MIRA INFORM REPORT
|
Report No. : |
318143 |
|
Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ATRIA CONVERGENCE TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 1, Palace Road, Bangalore – 560001, Karnataka |
|
Tel. No.: |
91-80-23530751 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.06.2000 |
|
|
|
|
Com. Reg. No.: |
08-027290 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.364.588 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900KA2000PTC027290 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA02014F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA8907B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The
Company is engaged in the business of Distribution of Cable and Broadband
Services. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track. The company has seen a deterioration in its financial profile as reflected
by consecutive losses for previous years resulting in erosion of its net
worth during FY 14. Management has reported heavy external borrowings in the books along
with unfavorable gap between trade receivables and other liabilities to be
paid off during the year under review. However, the capital intensive nature of the industry coupled with
long gestation period should be borne in mind. The ratings also take into consideration robust operational
performance due to customer addition and a strong management backed by an
established private equity fund – India Value Fund (IVF) which holds 69.66%
equity stake in the subject. Moreover, the risks related to high competition and capital intensive nature
of the business along with exposure to technological risk may act as a
potential threat to the business profile in turn affecting the financials as
well. However, trade relations may improve. Business is active. Payment
terms are reported as slow but correct. In view of leading position in broadband internet business in key
markets, the subject can be considered for business dealings with caution,
but 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities=A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
09.04.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (91-80-67695555)
LOCATIONS
|
Registered Office : |
No. 1, Palace Road, Bangalore-560001, Karnataka, India |
|
Tel. No.: |
91-80-23530751 / 42840000 / 67695555 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office : |
Indian Express Building, No. 1, 2nd Floor, Queen’s Road,
Bangalore-560001, Karnataka, India |
DIRECTORS
AS ON 19.09.2014
|
Name : |
Mr. Raju Sunder Chinnaswamy |
|
Designation : |
Managing Director |
|
Address : |
No. 294, Upper Palace, Orchards, Bangalore-560080, Karnataka,
India |
|
Date of Birth/Age : |
24.08.1957 |
|
Date of Appointment : |
16.06.2000 |
|
Din No.: |
00592212 |
|
|
|
|
Name : |
Mr. Nagaraju Kupparaju |
|
Designation : |
Director |
|
Address : |
No. 160, RV Layout, Kumarapark (West), Bangalore-560020, Karnataka,
India |
|
Date of Birth/Age : |
23.09.1959 |
|
Date of Appointment : |
16.06.2000 |
|
Din No.: |
00592259 |
|
|
|
|
Name : |
Mr. Vishal Gangadhar Nevatta |
|
Designation : |
Director |
|
Address : |
202, Adibaba, 16th Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Date of Birth/Age : |
05.08.1969 |
|
Date of Appointment : |
21.06.2008 |
|
Din No.: |
01307857 |
|
|
|
|
Name : |
Mr. Vikram Nirula |
|
Designation : |
Director |
|
Address : |
704, Gypsy Rose, Shastri Nagar, Ajmera Compled, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1972 |
|
Date of Appointment : |
21.06.2008 |
|
Din No.: |
01655115 |
|
|
|
|
Name : |
Mr. Pramod Kabra |
|
Designation : |
Director |
|
Address : |
Building 5, Anmol Housing Society, Andheri Kurla Road, Mumbai-400069,
Maharashtra, India |
|
Date of Birth/Age : |
20.10.1959 |
|
Date of Appointment : |
21.06.2008 |
|
Din No.: |
02252403 |
MAJOR SHAREHOLDERS
AS ON 19.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Raju Sunder Chinnaswamy |
|
4010500 |
|
Nagaraju Kupparaju |
|
2500 |
|
Raju Sunder Chinnaswamy and Nagaraju Kupparaju |
|
6371446 |
|
Raju Thejavathi S |
|
102900 |
|
IVF Trustee Company Private Limited, India |
|
24263120 |
|
Raju Chandrashekhar A.C., India |
|
78800 |
|
Bala Subrahmanyam Malladi |
|
1078360 |
|
Saurabh Mukherjee |
|
209680 |
|
Shefali Mohapatra |
|
119820 |
|
Hosabettu Venkatesh Bhat |
|
125810 |
|
Prakash Harjivandas Thakrar |
|
47930 |
|
Anurag Gupta |
|
47930 |
|
|
|
|
|
Total |
|
36458796 |
Equity Share Break up (Percentage of Total Equity)
AS ON 19.09.2014
|
Category |
Percentage |
|
Bodies corporate |
66.55 |
|
Directors or relatives of Directors |
28.98 |
|
Other top fifty shareholders |
4.47 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
Company is engaged in the business of Distribution of Cable and Broadband
Services. |
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Products / Services : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management. |
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Bankers : |
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Facilities : |
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|
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|
Financial Institution : |
IL and FS Trust Company Limited, IL and FS Financial Centre, Plot No. C22,
G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra,
India |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Maruthi Info-Tech
Centre,11-12/1, Inner Ring Road, Koramangala, Bangalore - 560 071, Karnataka,
India |
|
PAN No: |
AAIFB7355D |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Membership : |
Not Divulged |
|
|
|
|
Holding Company : |
·
IVF Trustee Company Private Limited [U74140KA2006PTC040274] |
|
|
|
|
Subsidiary company
: |
· A.C.N. Cable Private Limited · Atria Broadband Services Private Limited · Act Digital Home Entertainment Private Limited · Sr Cable Tv Private Limited · Beam Telecom Private Limited · Kable First India Private Limited · Chitradurga Entertainment Private Limited |
|
|
|
|
Step down
Subsidiary : |
· Kable First Davangere Private Limited · Sree Digital Home Entertainment Private Limited · Raja Rajeshwari Entertainment Private Limited · HCV Digital Entertainment Private Limited · Sri Venkateshwara Digital Home Entertainment Private Limited · Mandapeta Digital Entertainment Private Limited · IB Communications Network Private Limited |
|
|
|
|
Firm in which director is a partner : |
· ATS Broadcom Services |
|
|
|
|
Company
having common directors : |
· Clover Program Management Private Limited · OBRM Service Management Private Limited · CTV Content Management Private Limited · IVF Advisors Private Limited |
|
|
|
|
Entities
having common control : |
· India Value Fund Managers LLP |
CAPITAL STRUCTURE
AS ON 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36458796 |
Equity Shares |
Rs.10/- each |
Rs.364.588 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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
364.588 |
348.293 |
348.293 |
|
(b) Reserves & Surplus |
(1134.397) |
(648.914) |
(13.621) |
|
(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) |
(769.809) |
(300.621) |
334.672 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2020.753 |
618.935 |
12.375 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
51.919 |
27.839 |
20.635 |
|
(d) long-term
provisions |
10.570 |
11.187 |
7.908 |
|
Total Non-current
Liabilities (3) |
2083.242 |
657.961 |
40.918 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
382.000 |
412.000 |
0.000 |
|
(b) Trade
payables |
16.760 |
18.969 |
14.379 |
|
(c) Other
current liabilities |
2884.626 |
2404.543 |
1989.375 |
|
(d) Short-term
provisions |
6.524 |
1.349 |
2.835 |
|
Total Current
Liabilities (4) |
3289.910 |
2836.861 |
2006.589 |
|
|
|
|
|
|
TOTAL |
4603.343 |
3194.201 |
2382.179 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1080.506 |
659.745 |
427.488 |
|
(ii)
Intangible Assets |
78.912 |
113.264 |
134.238 |
|
(iii)
Capital work-in-progress |
297.475 |
273.071 |
68.011 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1688.654 |
925.110 |
670.823 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
180.726 |
188.773 |
94.339 |
|
(e) Other
Non-current assets |
159.893 |
21.000 |
21.000 |
|
Total Non-Current
Assets |
3486.166 |
2180.963 |
1415.899 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.780 |
9.164 |
24.939 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
33.504 |
43.737 |
22.402 |
|
(d) Cash
and cash equivalents |
181.817 |
309.624 |
30.669 |
|
(e)
Short-term loans and advances |
887.913 |
643.562 |
885.195 |
|
(f) Other
current assets |
13.163 |
7.151 |
3.075 |
|
Total
Current Assets |
1117.177 |
1013.238 |
966.280 |
|
|
|
|
|
|
TOTAL |
4603.343 |
3194.201 |
2382.179 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
883.658 |
432.679 |
190.143 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1412.304 |
1067.972 |
568.161 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(528.646) |
(635.293) |
(378.018) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(528.646) |
(635.293) |
(378.018) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(14.50) |
(18.24) |
(10.85) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(20.20) |
(31.83) |
(23.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.69 |
2.11 |
(1.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(3.12) |
(3.43) |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.34 |
0.36 |
0.48 |
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 |
348.293 |
348.293 |
364.588 |
|
Reserves & Surplus |
(13.621) |
(648.914) |
(1134.397) |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
334.672 |
(300.621) |
(769.809) |
|
|
|
|
|
|
long-term borrowings |
12.375 |
618.935 |
2020.753 |
|
Short term borrowings |
0.000 |
412.000 |
382.000 |
|
Total
borrowings |
12.375 |
1030.935 |
2402.753 |
|
Debt/Equity
ratio |
0.037 |
(3.429) |
(3.121) |
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 |
|
Gross Income |
190.143 |
432.679 |
883.658 |
|
|
|
127.555 |
104.229 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Gross Income |
190.143 |
432.679 |
883.658 |
|
Profit |
(378.018) |
(635.293) |
(528.646) |
|
|
(198.81%) |
(146.83%) |
(59.82%) |
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loans from others |
0.000 |
500.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Intercorporate borrowings |
382.000 |
412.000 |
|
|
|
|
|
Total |
382.000 |
912.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10554643 |
06/02/2015 |
300,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
GROUND FLOOR, VIDEOCON TOWER, E-1, RANI JHANSI ROAD, JHANDEWALAN EXTENSION, NEW DELHI, DELHI - 110055, INDIA |
C46438008 |
|
2 |
10496144 |
13/02/2014 |
500,000,000.00 |
INDUSIND BANK LTD. |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
C04891685 |
|
3 |
10474088 |
27/12/2013 |
350,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B94901337 |
|
4 |
10487296 |
29/04/2014 * |
1,800,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL
& FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA
EAST, MUMBAI, MAHARASHTRA |
C08972473 |
|
5 |
10468568 |
11/11/2013 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B92882893 |
|
6 |
10367840 |
19/06/2012 |
350,000,000.00 |
INDUSIND BANK LIMITED |
NO.28, CENTENARY BUILDING,, GROUND FLOOR, M.G. ROAD,, BANGALORE, KARNATAKA - 560001, INDIA |
B44621688 |
|
7 |
10343774 |
24/03/2012 * |
50,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B37200235 |
|
8 |
10252831 |
12/10/2010 |
30,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B00174862 |
|
9 |
10142717 |
05/02/2009 |
260,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A56739204 |
|
10 |
10122525 |
28/08/2008 |
7,500,000.00 |
TATA CAPITAL LIMITED |
ONE
FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHA |
A46107843 |
|
11 |
10085181 |
29/05/2012 * |
365,032,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B40828147 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
PRESS RELEASE:
ATRIA CONVERGENCE TECHNOLOGIES TARGETS ONE MILLION CUSTOMER BASE
Atria Convergence Technologies Private Limited (ACT), Bengaluru-based optical fiber-based Internet services provider, is aiming at reaching the milestone of one-million subscriber base at national level in the next one year, according to chief executive officer Bala Malladi.
"While players like BSNL, MTNL and Airtel are growing at 3% per year, we are
growing at 43% annually. We are hopeful of achieving our targets in the next
one year or so," he told mediapersons here on Monday.
ACT, which has a customer base of close to 700,000 across Hyderabad, Benguluru,
Chennai, and several locations in Andhra Pradesh and Telangana, claims to be
the fourth largest wired-broadband provider in Hyderabad with 450,000
connections, and the largest independent Internet services provider (ISP) in
the country after telcos.
With over 140,000 connections in Bengaluru, commanding a market share of 25%,
and cornering about 6% share of the Chennai market, ACT currently is doing a
net addition of around 20,000 connections a month.
Announcing the name change of Beam Fiber, a broadband brand in Hyderabad which
ACT had acquired in 2009, to ACT Fibernet, Malladi said the company would
eventually go for a national play out by entering into at least one new city
every year with an investment commitment of Rs 100 crore for each location.
Private equity investment fund, India Value Fund Advisors (IVFA), partnered ACT
group to grow the business six-and-a-half years ago. Thus far, ACT has seen an
investment of over Rs 1,000 crore, with a majority being flown in from IVFA.
ACT reported a turnover of Rs 500 crore in 2013 and currently has a run rate of
Rs 800 crore.
ACT Fibernet today launched 'Incredible 100 Mbps', a product with 200 GB of
download limit which it claims to be the country's first for the retail
subscribers, and a 250 mbps plan with a one Terabyte data limit for enterprises
and businesses.
According to Malladi, ACT will be embarking on a go-to-market plan till May
2015 for which it has earmarked Rs 10 crore. The company has already piloted a
WiFI hotspot at a mall in Hyderabad and is in the process of evaluating
opportunities to create more such zones across the city in due course, he
added.
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 records 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.62.82 |
|
|
1 |
Rs.93.85 |
|
Euro |
1 |
Rs.67.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
42 |
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.