MIRA INFORM REPORT

Report No. :	327044
Report Date :	15.06.2015

IDENTIFICATION DETAILS

Name :	FCBULKA ADVERTISING PRIVATE LIMITED (w.e.f.19.05.2014)
Formerly Known As :	DRAFTFCB-ULKA ADVERTISING PRIVATE LIMITED
Registered Office :	4^th Floor, Nirmal, Nariman Point, Mumbai – 400021, Maharashtra
Tel. No.:	91-22-33099571
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	23.04.1970
Com. Reg. No.:	11-014617
Capital Investment / Paid-up Capital :	Rs. 0.383 Million
CIN No.: [Company Identification No.]	U74300MH1970PTC014617
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in providing advertising services.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

A (66)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 3400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of “Advertisement and Communication Services (Mauritius) Limited It is an old and established company incorporated as on 23-4-1970 having good track record. Financial position of the company is sound. Fundamentals are strong and healthy. Balance sheet of the company is totally debt free. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitment. In view of strong financial risk profile, the company can be considered good 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.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	Not Available
Rating	Not Available
Rating Explanation	Not Available
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) DEFAILTERS’ 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 (Tel. No.: 91-22-33099571)

LOCATIONS

Registered Office :	4^th Floor, Nirmal, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-33099525/526 91-22-61777200/ 33099571
Fax No.:	Not Available
E-Mail :	nagesh.alai@fcbulka.com

DIRECTORS

AS ON 30.09.2014

Name :

Alai Ganesh Nagesh

Designation :

Director

Address :

15, Deepali, St. Cyril Road, Bandra West, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

13.06.1958

Date of Appointment :

27.06.2008

PAN No.:

01290616

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120MH2000PTC129891	SPAANNS GLOBAL VENTURES PRIVATE LIMITED	Director	06/12/2000	06/12/2000	-	Active	NO
2	U74300HR1985PTC043225	INTERFACE COMMUNICATIONS PRIVATE LIMITED	Director	26/06/2008	06/07/2007	-	Active	NO
3	U74300MH1970PTC014617	FCBUlka Advertising Private Limited	Director	27/06/2008	06/07/2007	-	Active	NO
4	U65990MH1993FTC074460	MORGAN STANLEY INVESTMENT MANAGEMENT PRIVATE LIMITED	Director	03/08/2009	14/11/2008	12/09/2014	Active	NO

Name :

Shashidhar Narain Sinha

Designation :

Director

Address :

13, 905-906, Indradarshan Phase II, Oshiwara, Andheri (West), Mumbai 400053, Maharashtra, India

Date of Birth/Age :

11.03.1958

Date of Appointment :

29.09.2011

DIN No.:

00953796

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	14/07/2006	14/07/2006	-	Active	NO
2	L22219UP1975PLC004147	JAGRAN PRAKASHAN LIMITED	Director	30/09/2014	04/09/2008	-	Active	NO
3	U22120MH2010FTC209134	Mediabrands India Private Limited	Director	18/10/2010	18/10/2010	-	Active	NO
4	U74300HR1985PTC043225	INTERFACE COMMUNICATIONS PRIVATE LIMITED	Director	28/09/2011	18/11/2010	-	Active	NO
5	U74300MH1970PTC014617	FCBUlka Advertising Private Limited	Director	29/09/2011	18/11/2010	-	Active	NO
6	U74300MH2009PTC190111	REPRISE MEDIA INDIA PRIVATE LIMITED	Nominee director	28/03/2011	28/03/2011	-	Active	NO
7	L67190MH2005PLC158288	SHEMAROO ENTERTAINMENT LIMITED	Director	26/05/2014	29/08/2011	-	Active	NO
8	U91200MH1985GAP037820	THE ADVERTISING STANDARDS COUNCIL OF INDIA	Director	01/02/2013	01/02/2013	-	Active	NO
9	U74990MH2009PTC191657	Interactive Avenues Private Limited	Nominee director	26/03/2013	26/03/2013	-	Active	NO
10	U74300MH2006PTC159169	INTERACTIVE AVENUES MARKETING SOLUTIONS PRIVATE LIMITED	Nominee director	26/03/2013	26/03/2013	-	Amalgamated	NO
11	U99999MH1994NPL076530	MEDIA RESEARCH USERS COUNCIL	Director	18/09/2014	24/09/2013	-	Active	NO
12	U74900MH2013FTC248762	CADREON INDIA PRIVATE LIMITED	Nominee director	04/10/2013	04/10/2013	-	Active	NO
13	U22130MH2008PLC177808	Midday Infomedia Limited	Additional director	28/01/2015	28/01/2015	-	Active	NO
14	U74300MH1987PTC045201	INITIATIVE MEDIA (INDIA) PRIVATE LIMITED	Director	02/02/2015	02/02/2015	-	Active	NO

Name :

Miller Stuart Neil

Designation :

Director

Address :

594, West Saddle River Road, Upper Saddle River Nj 07458

Date of Birth/Age :

30.07.1958

Date of Appointment :

29.09.2011

PAN No.:

03307814

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74300HR1985PTC043225	INTERFACE COMMUNICATIONS PRIVATE LIMITED	Director	28/09/2011	18/11/2010	-	Active	NO
2	U74300MH1970PTC014617	FCBUlka Advertising Private Limited	Director	29/09/2011	18/11/2010	-	Active	NO

Name :

Niteen Prabhakar Bhagwat

Designation :

Director

Address :

Mayqueen, Ground Floor, 62-A, Nargis Dutt, Road, Pali Hill Bandra, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

16.01.1957

Date of Appointment :

29.09.2011

PAN No.:

03311445

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74300HR1985PTC043225	INTERFACE COMMUNICATIONS PRIVATE LIMITED	Director	28/09/2011	18/11/2010	02/03/2015	Active	NO
2	U74300MH1970PTC014617	FCBUlka Advertising Private Limited	Director	29/09/2011	18/11/2010	02/03/2015	Active	NO
3	U74999MH2014PTC258835	Karira Consulting Private Limited	Director	22/10/2014	22/10/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Advertisement and Communication Services (Mauritius) Limited, Mauritius	4210
Interpublic Mauritius Limited, Mauritius	1
Total	4211

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in providing advertising services.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

• The Sharmrao Vithal Co-operative Bank, Cuffe Parade Branch, Mumbai – 400005, Maharashtra,  India
• UCO Bank, M. B. Zone Ii; 239, Backbay Reclamation, Nariman 
  Point, Mumbai – 400021, Maharashtra, India

Auditors :
Name :	Price Waterhouse and Company Chartered Accountant
Address :	Lovelock and Lewes, 252 Veer Savarkar Marg, Shivaji Park, Dadar West, Mumbai, Maharashtra, India
PAN No.:	AAEFP3641G
Memberships :	--
Collaborators :	--
Ultimate Holding Company :	The Interpublic Group of Companies Inc.
Holding Company :	Advertisement and Communication Services (Mauritius) Limited
Subsidiary Company :	Interface Communications Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4211	Equity Shares	Rs.100/- each	Rs. 0.421 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs. 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3838	Equity Shares	Rs.100/- each	Rs. 0.383 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	0.383	0.421	0.421
(b) Reserves & Surplus	1202.723	1172.893	917.923
(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)	1203.106	1173.314	918.344
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	30.852	35.580	30.915
(c) Other long term liabilities	126.553	109.693	125.791
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	157.405	145.273	156.706
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2151.822	2167.672	2428.422
(c) Other current liabilities	210.159	212.350	236.433
(d) Short-term provisions	2.117	37.919	1.883
Total Current Liabilities (4)	2364.098	2417.941	2666.738
TOTAL	3724.609	3736.528	3741.788
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	39.612	32.472	33.272
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.400	1.400	1.400
(c) Deferred tax assets (net)	110.512	143.217	134.820
(d) Long-term Loan and Advances	745.111	634.503	562.243
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	896.635	811.592	731.735
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	1438.961	1254.219	1688.975
(d) Cash and cash equivalents	590.866	927.970	773.663
(e) Short-term loans and advances	38.558	29.906	18.569
(f) Other current assets	759.589	712.841	528.846
Total Current Assets	2827.974	2924.936	3010.053
TOTAL	3724.609	3736.528	3741.788

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		448.000	375.000	401.000
Less	TAX		189.000	121.000	131.400
	PROFIT AFTER TAX		259.000	254.000	269.600
	Earnings Per Share (Rs.)		61505.58	60318.21	64022.79

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	12.40	10.44	11.12
Return on Investment (ROI) (PBT/Networth)		0.37	0.32	0.44
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.20	1.21	1.13

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	0.421	0.421	0.383
Reserves & Surplus	917.923	1172.893	1202.723
Share Application money pending allotment	0.000	0.000	0.000
Net worth	918.344	1173.314	1203.106
long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.000	0.000	0.000
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

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	No
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	No
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	No
27	Reasons for variation <> 20%	------
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	------
33	Market information	------
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90226913	29/03/1995	10,780,000.00	THE SHARMRAO VITHAL CO-OP BANNK	CUFFE PARADE BRANCH, BOMBAY, Maharashtra - 400005,  INDIA	-
2	90227829	15/03/2001 *	2,500,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD	52/60; M. G. ROAD; FORT, MUMBAI, Maharashtra - 400001, INDIA	-
3	90227739	18/10/1984	1,500,000.00	UCO BANK	M. B. ZONE II; 239, BACKBAY RECLAMATION; NARIMAN  POINT, BOMBAY, Maharashtra - 400021, INDIA	-
4	90227708	03/02/1984	1,500,000.00	BANK OF INDIA	SION BRANCH; 29, MABA BHAVAN; SION CIRCLE, BOMBAY, Maharashtra - 400022, INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Furniture and Fixture
• Vehicles
• Office Equipments
• Computer Equipments

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. 64.03
UK Pound	1	Rs. 99.27
Euro	1	Rs. 71.90

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	9
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		66

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.