MIRA INFORM REPORT
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Report No. : |
315506 |
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Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
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Name : |
UTV SOFTWARE COMMUNICATIONS LIMITED (w.e.f. 19.03.1998) |
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Formerly Known
As : |
UNITED SOFTWARE COMMUNICATIONS LIMITED |
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Registered
Office : |
1st Floor, Building No.14, Solitaire Corporate Park, Guru Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400093, Maharashtra |
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Country : |
India |
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Financials (as on)
: |
31.03.2014 |
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Date of
Incorporation : |
22.06.1990 |
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Com. Reg. No.: |
11-056987 |
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Capital
Investment / Paid-up Capital : |
Rs. 516.640 Million |
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CIN No.: [Company Identification
No.] |
U72200MH1990PLC056987 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACU4122G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in the business of Film Distribution, Film (including Animation) Production, Mobile Value Added Services and Content Development and Distribution. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an Indian media and entertainment company owned by the Walt
Disney Company. It is an established company having satisfactory track record. The company is continuously incurring losses however, net worth of the
company is satisfactory. The company also receives strong operation and
managerial support from its parent company. Trade relation are reported as fair. Business is active. Payments are
reported to be usually correct. In view of experienced promoters, the company can be considered normal
for business dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
Not Available |
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. 91-40-23420815/ 91-22-61091000)
LOCATIONS
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Registered Office/Corporate: |
1st Floor, Building No.14, Solitaire Corporate Park, Guru Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-61091000 |
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Mobile No.: |
91-22-67421930 |
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E-Mail : |
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Website : |
DIRECTORS
As on: 23.09.2014
|
Name : |
Mr. Sujit Vijay Vaidya |
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Designation : |
Director |
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Address : |
B909, Ganapati Tower, Thakur Village, Kandivali East, Mumbai - 400101, Maharashtra, India |
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Date of Birth/Age : |
19.04.1967 |
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Date of Appointment : |
11.12.2013 |
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DIN No.: |
03287161 |
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Name : |
Mr. Nimish Shah |
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Designation : |
Whole-Time Director |
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Address : |
102, Krishna Apartments, 79-A, Andrews Road, Santacruz (W), Mumbai - 400054, Maharashtra, India |
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Date of Birth/Age : |
21.11.1974 |
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Date of Appointment : |
05.04.2012 |
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DIN No.: |
05250183 |
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Name : |
Mr. Charles Joseph Jacob |
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Designation : |
Director |
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Address : |
53, Rajas, Prof. N.S. Phadke Marg, Andheri Flyover, Road, Andheri (E), Mumbai - 400069, Maharashtra, India |
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Date of Birth/Age : |
11.11.1970 |
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Date of Appointment : |
29.01.2013 |
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DIN No.: |
06489312 |
KEY EXECUTIVES
|
Name : |
Mr. Vishwas Gangadhar Joshi |
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Designation : |
Chief Finance Executive |
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Address : |
601, A, Parkside 1, Raheja Estate, Kulupwadi, Borivli (E), Mumbai - 400066, Maharashtra, India |
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Date of Birth/Age : |
06.07.1964 |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
ABKPJ3951C |
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Name : |
Mr. Puneet Juneja |
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Designation : |
Secretary |
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Address : |
303, Alka Building, I.C. Colony, Borivali (W), Mumbai - 400103, Maharashtra, India |
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Date of Appointment : |
16.10.2014 |
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PAN No.: |
AFRPJ9169H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 23.09.2014
NOTE: Shareholder file Attached.
Equity Share Break up (Percentage of Total Equity)
As on: 23.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companies(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.71 |
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Bodies corporate |
0.01 |
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Other top fifty shareholders |
0.05 |
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Others |
0.23 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is primarily engaged in the business of Film Distribution, Film (including Animation) Production, Mobile Value Added Services and Content Development and Distribution. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Financial
Institute: |
SICOM Limited, Nirmal Building, 1st Floor, Nariman Point, Mumbai - 400021, Maharashtra, India SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
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Auditors : |
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Name : |
Price Waterhouse and Company Chartered Accountants |
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Address : |
5th Floor, Tower D, The Mellenia, 1 and 2, Murphy Road, Ul Soor, Bangalore, Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
Company: |
The Walt Disney Company |
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Intermediate
Holding Company |
Disney Enterprises, Inc |
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Immediate Holding
Company: |
The Walt Disney Company (Southeast Asia) Private Limited (TWDC) |
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Fellow Subsidiary
Companies |
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Subsidiaries of the
Company: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
106,966,900 |
Equity Shares |
Rs.10/- each |
Rs. 1069.669 Million |
|
7,333,500 |
Preference shares |
Rs.1500/- each |
Rs. 11000.250 Million |
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|
Total |
|
Rs. 12069.919
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51,663,659 |
Equity Shares |
Rs.10/- each |
Rs. 516.637 Million |
|
1,666,000 |
Preference shares |
Rs.1500/- each |
Rs. 2499.000 Million |
|
|
Total |
|
Rs. 3015.637
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
516.640 |
500.430 |
413.050 |
|
(b) Reserves & Surplus |
4865.840 |
5338.020 |
1963.690 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
5382.480 |
5838.450 |
2376.740 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
8250.000 |
8250.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
1.220 |
1.520 |
3.840 |
|
(c) Other long term
liabilities |
18.210 |
33.900 |
5.030 |
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(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
8269.430 |
8285.420 |
8.870 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
5532.430 |
3864.970 |
11376.000 |
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(b) Trade
payables |
990.290 |
888.970 |
665.130 |
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(c) Other
current liabilities |
358.050 |
613.400 |
928.480 |
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(d) Short-term
provisions |
16.870 |
11.650 |
1.090 |
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Total Current
Liabilities (4) |
6897.640 |
5378.990 |
12970.700 |
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TOTAL |
20549.550 |
19502.860 |
15356.310 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
2.400 |
18.430 |
39.170 |
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(ii)
Intangible Assets |
24.810 |
0.450 |
7.300 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
9635.190 |
7930.010 |
3886.060 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
250.000 |
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(d) Long-term Loan and Advances |
1664.190 |
2283.140 |
4449.330 |
|
(e) Other
Non-current assets |
0.000 |
1.400 |
1.400 |
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Total Non-Current
Assets |
11326.590 |
10233.430 |
8633.260 |
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(2)
Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
5953.820 |
4590.010 |
4022.380 |
|
(c) Trade
receivables |
889.020 |
1391.120 |
1076.170 |
|
(d) Cash
and cash equivalents |
82.320 |
405.120 |
314.300 |
|
(e)
Short-term loans and advances |
2212.620 |
2572.650 |
1288.730 |
|
(f) Other
current assets |
85.180 |
310.530 |
21.470 |
|
Total
Current Assets |
9222.960 |
9269.430 |
6723.050 |
|
|
|
|
|
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TOTAL |
20549.550 |
19502.860 |
15356.310 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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SALES |
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Revenue from operations |
6171.500 |
6519.200 |
4297.500 |
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Other Income |
190.910 |
237.380 |
400.770 |
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TOTAL |
6362.410 |
6756.580 |
4698.270 |
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Less |
EXPENSES |
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Cost of Materials Consumed |
6254.110 |
5959.790 |
7308.080 |
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Employees benefits expense |
278.920 |
338.750 |
416.710 |
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Other expenses |
881.870 |
449.310 |
639.910 |
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Exceptional Item |
0.000 |
3323.880 |
4630.540 |
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TOTAL |
7414.900 |
10071.730 |
12995.240 |
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Less |
PROFIT
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(1052.490) |
(3315.150) |
(8296.970) |
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Less |
FINANCIAL
EXPENSES |
1186.170 |
1284.710 |
888.380 |
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PROFIT
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
(2238.660) |
(4599.860) |
(9185.350) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
11.190 |
27.590 |
47.950 |
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PROFIT
(LOSS) BEFORE TAX |
(2249.850) |
(4627.450) |
(9233.300) |
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Less |
TAX |
1.310 |
751.430 |
0.000 |
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PROFIT (LOSS)
AFTER TAX |
(2251.160) |
(5378.880) |
(9233.300) |
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EARNINGS IN
FOREIGN CURRENCY |
752.790 |
520.470 |
262.270 |
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Earnings Per
Share (Rs.) |
(44.08) |
(117.15) |
(226.73) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(36.48) |
(82.51) |
(214.85) |
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Operating Profit Margin (PBIDT/Sales) |
(%) |
(17.05) |
(50.85) |
(193.07) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(20.61) |
(39.99) |
(82.29) |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.42) |
(0.79) |
(3.88) |
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Debt Equity Ratio (Total Debt /Networth) |
|
2.56 |
2.08 |
4.79 |
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Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.72 |
0.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
413.050 |
500.430 |
516.640 |
|
Reserves & Surplus |
1963.690 |
5338.020 |
4865.840 |
|
Net worth |
2376.740 |
5838.450 |
5382.480 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
8250.000 |
8250.000 |
|
Short term borrowings |
11376.000 |
3864.970 |
5532.430 |
|
Total borrowings |
11376.000 |
12114.970 |
13782.430 |
|
Debt/Equity ratio |
4.786 |
2.075 |
2.561 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
4297.500 |
6519.200 |
6171.500 |
|
|
|
51.697 |
(5.333) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
4297.500 |
6519.200 |
6171.500 |
|
Profit/Loss |
(9233.300) |
(5378.880) |
(2251.160) |
|
|
(214.85%) |
(82.51%) |
(36.48%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
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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 |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
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 |
LITIGATION
DETAILS:
|
LITIGATION DETAILS |
||
|
BOMBAY HIGH COURT |
||
|
LODGING NO.: SL/1118/2013
FILLING DATE: 18.12.2013
REG. NO.: S/92/2014 REG. DATE:
31.01.2014 |
||
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PETITIONER |
UNIVERSAL MUSIC INDIA PRIVATE LIMITED RESPONDENT: UTV SOFTWARE COMMUNICATION LIMITED |
|
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PETN.: ADV. |
BILAWALA AND COMPANY RESP. ADV.: DSK LEGAL (DEF. NO. 6) (0) |
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DISTRICT |
MUMBAI |
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BENCH |
SINGLE |
CATEGORY: COPY RIGHT (SUIT) |
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STATUS |
PRE-ADMISSION |
STAGE: FOR
DIRECTION |
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LAST DATE: |
24.07.2014 |
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LAST CORAM |
REGISTRAR (OS) PROTHONOTARY AND SR. MASTER |
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ACT. |
COPY RIGHT ACT. |
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PROFIT / (LOSS) OF
THE YEAR:
During the year the Company has incurred a loss of Rs. 2,251.160 Million on account of the operating losses primarily due to reduced margins from its movie releases as some co-produced movies were with limited rights and included profit sharing arrangements. Further, the company provided for some talent advances as per its accounting policy in view of postponement in commencing these projects.
BUSINESS OVERVIEW:
The year was a very eventful one for the Media and Entertainment industry as it continued to witness changes in the regulatory and competitive environment. For the Company it’s been a year that has witnessed an exceptional run at the Movies, a consolidation of their lead in the Youth space in Television with bindass and a continuing endeavor to build their pipeline of Digital Games.
Studios:
2013 was a rewarding and exciting year for us at the Indian box office. It was the biggest year for their movies in theaters as compared to any other Indian studio on the back of commercial blockbusters such as Chennai Express, Yeh Jawaani Hai Deewani and Race 2; and high concept films such as Kai Po Che, ABCD, Ship of Theseus, The Lunchbox and Shahid. Most of Their movies set benchmarks showing evolving audience trends.
The studio team worked with some of the best names in the industry and also launched and backed new talent in this past year. We produced India first 3D dance movie Any Body Can Dance which received a phenomenal response and now we're developing the sequel; Kai Po Che also received an incredible response at the Berlin film festival and in cinemas worldwide; Chennai Express, Their co-production with Red Chilies, set new box office benchmarks and Yeh Jawaani Hai Deewani which they released in India was also a box office sensation. Their Tamil production Settai, which was a remake of Their Hindi comedy Delhi Belly, further strengthened their presence in the South market with its great performance.
The success of their specialty releases The Lunchbox, Ship of Theseus and Shahid reflect the strength of their marketing and distribution strategies. The slate this year was reflective of the philosophy UTV as a studio has adopted over the years, which is that they want to back all kinds of movies, so long as they entertain, and to preempt audience trends. Their films continued to explore new markets. The critically acclaimed blockbuster Barfi! Had a successful mainstream release in Turkey and then also traveled to Taiwan, Mainland China and Hong Kong.
Broadcasting:
Bindass, the homegrown youth entertainment channel, has established itself as a cult among its audiences through shows that mirror society and its realities. The channel emerged as the leading youth channel and continued to build on its content pipeline with an all new show Yeh Hai Aashiqui. Through this show bindass showcased unique love stories which prove the age-old adage that love is the strongest emotion and can indeed triumph despite facing the most daunting of odds. Yeh Hai Aashiqui underlines the reality that today’s youth does not look at age, societal standing, the possible obstacles or even gender before falling in love. The show went on to become the leading show in the youth space. In the past year the channel also saw successful brand associations with new Advertiser Funded Programming such as Nokia Lumia 520 Speed, Nivea Kiss and Make Up, Rooftop Break ITC Bingo.
UTV Stars, dedicated solely to Bollywood and its most sought after celebrities, went a step further in the past year to fulfil its brand promise of touch, feel, believe by taking some sought-after celebrities to key markets such as Chandigarh, Ahmedabad, Amritsar, Pune and more. Fans from these markets got a chance to interact with the celebrities while they indulged in shopping, visiting places of historical significance and more. There was an addition of more statues and tiles at the coveted Walk of the Stars property with superstar Rajesh Khanna, Shashi Kapoor, Jeetendra and Asha Parekh now gracing the property.
UTV Action is a genre-specific movie channel showcasing fast-paced action films dubbed in Hindi. UTV Movies is the new age Hindi movie channel offering both viewers and advertisers a direct experience of the spirit of Bollywood through its programming and promotional engagements. UTV World Movies continued to showcase handpicked titles from across 40 countries.
Games and
Interactive:
The digital arm of UTV was formed in May 2008 to carry forward the ideology of content creation for platforms such as games, original content for the mobile and web and more. The team continued to build on its pipeline of games including IPL Cricket Fever 2013, the official IPL game across iOS, Android, Java and MRE platforms; Chhota Bheem and the throne of Bali on DTH; a game based on the blockbuster movie Yeh Jawani Hai Deewani and the biggest hit of last year Chennai Express.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
8250.000 |
8250.000 |
|
Short term Borrowings |
|
|
|
Rupee term loans from banks |
2162.430 |
1514.970 |
|
Rupee term loans from others |
450.000 |
450.000 |
|
Loans repayable on demand from banks |
2920.000 |
1900.000 |
|
Total |
13782.430 |
12114.970 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90186791 |
22/09/2000 |
1,000,000.00 |
CENTUION BANK LIMITED |
MAKER CHAMBERS, NARIMNA POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
2 |
90186411 |
30/12/1996 |
133,642,000.00 |
DENA BANK |
BOMBAY MAIN OFFICE, FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
3 |
90186278 |
21/11/1995 |
7,500,000.00 |
DENA BANK |
FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
4 |
90188497 |
10/09/1993 |
5,000,000.00 |
DENA BANK |
ADVANCES DEPT, LEGAL SECTION, 17 HORNIMAN CIRCLE FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
5 |
90185930 |
15/07/1995 * |
64,460,000.00 |
DENA BANK |
ADVANCES DEPARTMENT, 17 HORNIMAN CIRCLE, FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
6 |
90185924 |
30/04/1996 * |
8,700,000.00 |
DENA BANK |
BOAMBAY MAIN OFFICE, 17 H. CIRCLE FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
7 |
90185751 |
01/08/1994 * |
43,720,000.00 |
DENA BANK |
BOMBAY MAIN OFFICCE, LEGAL SECTION; 17 HORNIMAN CIRCLE; FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
8 |
90187542 |
30/08/1991 |
4,040,000.00 |
DENA BANK |
SOMBAY MAIN OFFICE; ADVANCES DEPARTMENT, LEGAL SECTION; 17 HORNIMAN CIRCLE FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
9 |
90187535 |
03/05/1991 |
2,000,000.00 |
DENA BANK |
SOMBAY MAIN OFFICE; ADVANCES DEPARTMENT, LEGAL SECTION; 17 HORNIMAN CIRCLE FORT, BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
- Leasehold improvements
- Computer software
- Copyrights, patents and other operating rights
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report: No press reports / filings exists on the
subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
47 |
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.