MIRA INFORM REPORT

 

 

Report No. :

333767

Report Date :

27.07.2015

 

IDENTIFICATION DETAILS

 

Name :

RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED (w. e. f. 07.03.2002)

 

 

Formerly Known As :

SUKHKARTA FINTRADE PRIVATE LIMITED

 

 

Registered Office :

H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra

Tel. No.:

91-22-30386286

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

17.07.1997

 

 

Com. Reg. No.:

11-166329

 

 

Capital Investment / Paid-up Capital :

Rs. 9380.200 Million

 

 

CIN No.:

[Company Identification No.]

U64203MH1997PLC166329

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELR10472A

MUMR16298C

 

 

PAN No.:

[Permanent Account No.]

AACCS2157H

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in providing wireless multimedia and internet access services.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

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 :

Exist

 

 

Comments :

Subject is a subsidiary of “RELIANCE COMMUNICATIONS LIMITED” and one of the India’s leading integrated telecommunications service provider. It is an established company having satisfactory track record.

 

The company has incurred losses from its operational activities. Further company has recorded some accumulated losses.

 

However, the rating takes into consideration financial and managerial support that company receives from its parent company and decent capital base of the company.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of strong holding support, the company can be considered 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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities: (A-)

Rating Explanation

Adequate degree of safety and low credit risk.

Date

13.02.2015

 

Rating Agency Name

CARE

Rating

Short Term Non Fund Based Facilities: (A2+)

Rating Explanation

Strong degree of safety and low credit risk.

Date

13.02.2015

 

 

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 31-03-2013.

 

 

INFORMATION DENIED

 

MANAGEMENT NON CO-OPERATIVE (91-22-30386286)

 

 

LOCATIONS

 

Registered Office :

H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra, India 

Tel. No.:

91-22-30386286/ 22847006/ 30385010

Fax No.:

91-22-30376622

E-Mail :

hitesh.marthak@relianceada.com

chawda@relianceada.com

tulsi.dadlani@relianceada.com

Website :

http://www.relianceda.com

 

 

Corporate Head Quarters :

A Block, Thane – Belapur Road, Koparkhairane, Navi Mumbai – 400 709, Maharashtra, India

Tel. No.:

91-22-30388000

Fax. No.:

91-22-30388005

 

Branch Office:

Located at:

 

  • Mumbai
  • Bangalore
  • Chennai

 

 

DIRECTORS

 

AS ON: 16.09.2014

 

Name :

Mr. Gautam Bhailal Doshi

Designation :

Director

Address :

402, Hamilton Court, Tagore Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

23.12.1952

Qualification :

FCA

Date of Appointment :

26.06.2005

DIN No.:

00004612

 

 

Name :

Mr. Hasit Navinchandra Shukla

Designation :

Director

Address :

403, Sabita Co-operative Housing Society Limited, Plot No. 596, CTS F/38, 16th Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

28.08.1962

Qualification :

B. Com, FCS, LLB

Date of Appointment :

13.08.2010

Voter ID No.:

ROL3044492

DIN No.:

00004549

 

 

Name :

Mr. Suresh Madihally Rangachar

Designation :

Director

Address :

Imperial Tower, Flat No. 3604, 36th Floor, South Wing, B B Nakashe Marg, Tardeo, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

14.05.1964

Qualification :

Master in Computer Science

Date of Appointment :

13.08.2010

DIN No.:

00020887

 

 

KEY EXECUTIVES

 

Name :

Dipak Rachchha

Designation :

Company Secretary

 

 

Name :

Mr. Hitesh Lalitbhai Marthak

Designation :

Deputy Company Secretary and Manager

Address :

Flat F 604, (DAISY), Jalvayu Vihar, Phase-I, Sector-20, Kharghar, Navi Mumbai-410210, Maharashtra, India

Date of Birth/Age :

25.10.1975

Date of Appointment :

01.08.2010

PAN No.:

ACDPM9248D

 

 

Name :

Hardev Singh

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 16.09.2014

 

Names of Equity Shareholders

 

No. of Shares

Prakash Shenoy Jointly with Reliance Communications Limited, India

 

1

Anil C Shah Jointly with Reliance Communications Limited, India

 

1

Gaurang Shah Jointly with Reliance Communications Limited, India

 

1

Hitesh Marthak Jointly with Reliance Communications Limited, India

 

1

Hasit Shukla Jointly with Reliance Communications Limited, India

 

1

Hitesh Chawda Jointly with Reliance Communications Limited, India

 

1

Reliance Communication Limited, India

 

9379999994

 

 

 

Total

 

9380000000

 

 

Names of Preference Shareholders

 

No. of Shares

 

 

 

Reliance Communication Limited, India

 

20000

 

 

 

Total

 

20000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 16.09.2014

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in providing wireless multimedia and internet access services.

 

 

Products/Services :

Products/Services Description

Item Code No.

 

Installation services of telecommunication wiring, including of fiber optic cables

99546194

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

UTI Bank Limited

Branch Address

Central Office; Maker; Towers-F; 13th  Floor, Cuffe Parade; Colaba, Mumbai - 400005, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

Finance Institutions :

 

Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India

 

 

Auditors :

 

Name :

Chaturvedi and Shah

Chartered Accountants

Address :

714-715, Tulsiani Chambers, 212, Free Press Journal Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India

PAN No.:

AAAFC0662N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Ultimate Holding Company :

Reliance Innoventures Private Limited

 

 

Holding Company :

·          Reliance Communications Limited

CIN No.: L45309MH2004PLC147531

 

 

Subsidiary Companies :

·          Reliance Infratel Limited

CIN No.: U72900MH2001PLC131598

·         Reliance IDC Limited (Formerly Known as Reliance Communications Investment and leasing Limited)

·         Reliance BPO Private Limited.(w.e.f. April 30, 2012)

 

 

Fellow Subsidiaries :

·         Reliance Wimax Limited 

·         Reliance Webstore Limited

·         Reliance Communications International Inc.

·         Reliance Communications Inc.

·         Reliance Communications Hongkong Limited

·         Reliance Globalcom Limited, Bermuda and its Subsidiaries

·         Reliance Communications Canada Inc.

·         Reliance Communications U.K. Limited

·         Reliance Communications Australia Pty Limited

·         Reliance Telecom Limited

·         Gateway Net Trading Pte. Limited. Singapore

·         Reliance Big TV Limited

·         Reliance Tech Services Private Limited

·         Reliance Globalcom Limited.(w.e.f. July 3,2012)

·         Reliance Infocomm Infrastructure Private Limited

·         Vanco Group Limited

·         M.P. Networks Private Limited (w.e.f. March 21,2013)

·         Kerala Communication Network Private Limited (w.e.f. March 21,2013)

·         Reliance Globalcom B.V. The Netherlands

 

 

Joint Venture :

·         Alcatel Lucent Managed Solutions India Private Limited

CIN No.: U64203MH2008PTC182748

 

 

CAPITAL STRUCTURE

 

AS ON: 16.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9400000000

Equity Shares

Rs.1/- each

Rs. 9400.000 Million

10000000

Preference Shares

Rs.10/- each

Rs. 100.000 Million

 

 

 

Rs. 9500.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9380000000

Equity Shares

Rs.1/- each

Rs. 9380.000 Million

20000

Preference Shares

Rs.10/- each

Rs. 0.200 Million

 

 

 

Rs. 9380.200 Million

 

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2400000000

Equity Shares

Rs.1/- each

Rs. 2400.000 Million

10000000

Preference Shares

Rs.10/- each

Rs. 100.000 Million

 

 

 

Rs. 2500.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2010000000

Equity Shares

Rs.1/- each

Rs. 2010.000 Million

20000

Preference Shares

Rs.10/- each

Rs. 0.200 Million

 

 

 

Rs. 2010.200 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

2010.200

2010.200

2010.200

(b) Reserves & Surplus

(915.900)

2775.800

20403.700

(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)

1094.300

4786.000

22413.900

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

35.300

40.700

0.000

Total Non-current Liabilities (3)

35.300

40.700

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

18666.200

26298.900

30268.200

(b) Trade payables

7673.700

20910.600

11286.400

(c) Other current liabilities

52275.000

40669.100

33427.400

(d) Short-term provisions

27.000

15.000

6.500

Total Current Liabilities (4)

78641.900

87893.600

74988.500

 

 

 

 

TOTAL

79771.500

92720.300

97402.400

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4377.000

5606.100

7894.600

(ii) Intangible Assets

9.600

11.600

3.100

(iii) Capital work-in-progress

1610.000

1418.600

2163.100

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

3211.600

3211.600

3261.600

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

25039.200

24158.100

23493.800

(e) Other Non-current assets

0.000

0.000

3880.000

Total Non-Current Assets

34247.400

34406.000

40696.200

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

259.200

420.400

578.100

(c) Trade receivables

13394.400

14578.900

8097.700

(d) Cash and cash equivalents

1409.100

1309.200

1523.100

(e) Short-term loans and advances

29535.500

36344.800

39916.700

(f) Other current assets

925.900

5661.000

6590.600

Total Current Assets

45524.100

58314.300

56706.200

 

 

 

 

TOTAL

79771.500

92720.300

97402.400

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Revenue from Operations

27214.800

37753.100

48075.700

 

Other Income

1681.500

4832.900

7199.200

 

TOTAL (A)

28896.300

42586.000

55274.900

 

 

 

 

 

Less:

EXPENSES

 

 

 

 

Employees benefits expense

755.000

1848.300

863.900

 

Other expenses

28977.200

49857.800

55752.500

 

TOTAL (B)

29732.200

51706.100

56616.400

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)    (C)

(835.900)

(9120.100)

(1341.500)

 

 

 

 

 

Less:

FINANCIAL EXPENSES (D)

312.700

298.300

210.200

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

(1148.600)

(9418.400)

(1551.700)

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION (F)

1614.600

2720.200

4261.700

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)

(2763.200)

(12138.600)

(5813.400)

 

 

 

 

 

Less

TAX (H)

 0.000

0.000 

(1090.300)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)                  (I)

(2763.200)

(12138.600)

(4723.100)

 

 

 

 

 

Add:

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (J)

(12119.900)

18.700

4741.800

 

 

 

 

 

 

Balance Carried to the B/S (I+J)                       (K)

(14883.100)

(12119.900)

18.700

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

221.000

208.800

83.600

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(1.37)

(6.04)

(2.35)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net Cash flows from (used in) Operations

6459.900

6204.000

(9233.600)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(10.15)

(32.15)

(9.82)

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

(3.07)

(24.16)

(2.79)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(3.69)

(13.78)

(6.32)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(2.53)

(2.54)

(0.26)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

17.06

5.49

1.35

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.58

0.66

0.76

 

 

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

2010.200

2010.200

2010.200

Reserves & Surplus

20403.700

2775.800

(915.900)

Net worth

22413.900

4786.000

1094.300

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

30268.200

26298.900

18666.200

Total borrowings

30268.200

26298.900

18666.200

Debt/Equity ratio

1.350

5.495

17.058

 

 

 

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

48075.700

37753.100

27214.800

 

 

(21.472)

(27.914)

 

 

 

 

 

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

48075.700

37753.100

27214.800

Profit

(4723.100)

(12138.600)

(2763.200)

 

(9.82%)

(32.15%)

(10.15%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

Yes

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from Reliance House Near Maradia Plaza, Off. C G Road, Ahmedabad – 380006, Gujarat to the present address w. e. f. 04.12.2006

 

 

 

LITIGATION DETAILS:

 

 

Case Details

 

                                                                       Bench:- Bombay

Presentation Date: 15.06.2015

Lodging No: CUAPPL/83/2015

Filing Date: 15.06.2015

Reg. No: CUAPP/83/2015

Reg. Date: 21.07.2015

Petitioner:- THE COMMISSIONER OF CUSTOMS NHAV SHEVA-V

Respondent: RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED AND ANR – SHRI NARENDRA PATIL

Petn. Adv.:- PRADEEP SHIVNARAIN JETLY (13289)

Resp. Adv:- ECONOMIC LAWS PRACTICE (12575) RES NO 1 (0)

District: RAIGAD

Bench: DIVISION

Status: PRE-ADMISSION                                                                       Category: CUSTOM APPEAL

Act:- Customs Act, 1962                                                                       Under Section: 130

 

 

 

 

 

OPERATIONS:

 

The Company is a leading provider of Direct Internet Access (DIA) services on a pan India basis. This business is supported by passive infrastructure connected to nationwide fully integrated network operation system. The Company is at the forefront of creating the Internet backbone for India with its innovations.

 

The Company earned total revenues of Rs. 28896.300 Million during the year as compared to Rs. 42586.000 Million for the previous year. The Company incurred total operating expenses of Rs. 29732.200 Million as compared to Rs. 51706.100 Million in the previous year.

 

The net loss after tax recorded by the company was Rs. 2763.200 Million as compared to loss of Rs.12138.600 Million in the previous year.

 

 

UNSECURED LOAN:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

SHORT TERM BORROWINGS

 

 

Foreign Currency Term Loan from Banks

2772.700

5427.200

Intercorporate Borrowings

2730.000

0.000

Loans and Advances from Others

13163.500

20871.700

 

 

 

Total

18666.200

26298.900

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10573533

12/06/2015

19,122,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C55777726

2

10568806

18/05/2015

13,500,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C53345765

3

10566809

07/05/2015

4,687,500,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C52331162

4

10566186

08/04/2015

1,000,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C52062460

5

10559908

30/03/2015

22,000,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C49247547

6

10549756

20/02/2015

67,500,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C43903814

7

10496882

28/03/2014

2,000,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C04884763

8

10478486

21/02/2014

3,000,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

B96765490

9

10475361

05/02/2014

1,500,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

B95402582

10

10475331

05/02/2014

2,500,000,000.00

Axis Trustee Services Limited

AXIS HOUSE, 2ND  FLOOR, BOMBAY DYEING MILLS COMPOUND, 
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

B95391488

 

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

 

 

 

Guarantees

27959.900

41799.500

 

 

 

FIXED ASSETS:

 

Tangible

 

 

Intangible

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 63.89

UK Pound

1

Rs. 99.10

Euro

1

Rs. 70.12

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

THR

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--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

 

43

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.