MIRA INFORM REPORT
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Report No. : |
321152 |
|
Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
FRANKLIN TEMPLETON ASSET MANAGEMENT ( |
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|
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Formerly Known
As : |
TEMPLETON ASSET MANAGEMENT INDIA PRIVATE LIMITED |
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Registered
Office : |
Indiabulls Finance Centre, Tower 2, 12th and 13th,
Floor, Senapati Bapat Marg, Elphinstone (West), Mumbai- 400013, Maharashtra |
|
Tel no. : |
91-22-67519100 |
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Country : |
India |
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Financials (as
on) : |
30.09.2014 |
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Date of
Incorporation : |
06.10.1995 |
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Com. Reg. No.: |
11-093356 |
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Capital
Investment / Paid-up Capital : |
Rs. 2393.333 Million |
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|
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CIN No.: [Company Identification
No.] |
U67190MH1995PTC093356 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT04711A |
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PAN No.: [Permanent Account No.] |
AAACT1609B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of providing
investment management and related services |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having good track. Fundamentals of the company is decent. Financial position of the company
is strong and healthy. Trade relations reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 |
ICRA |
|
Rating |
Templeton India Treasury Management Account:
“A1+mfs” |
|
Rating Explanation |
Strong degree of safety and regarding timely
receipt of payments they have made. |
|
Date |
13.04.2014 |
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 DECLINED
Management Non-cooperative. (Tel. No.: 91-22-67519100)
LOCATIONS
|
Registered Office : |
Indiabulls Finance Centre, Tower 2, 12th and 13th,
Floor, Senapati Bapat Marg, Elphinstone (West), Mumbai- 400013, Maharashtra,
India |
|
Tel. No.: |
91-22-67519100 |
|
Fax No.: |
91-22-66391282 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 23.01.2015
|
Name : |
Mr. Deepak Madhav Satwalekar |
|
Designation : |
Director |
|
Address : |
9, Nutan Alka Co-operative Housing Society Limited, Relief Road,
Santacurz (West), Mumbai-400054, |
|
Date of Birth/Age : |
14.11.1948 |
|
Date of Appointment : |
06.10.1995 |
|
DIN No.: |
00009627 |
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|
Name : |
Mr. Bhaskara Nageshwara Rao Mandavilli |
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Designation : |
Director |
|
Address : |
Flat No. A 906, Purva Heights, 14, Bannerghatta Road, Bilekahalli,
Bangalore –560076, Karnataka, India |
|
Date of Birth/Age : |
19.06.1948 |
|
Date of Appointment : |
19.05.2009 |
|
DIN No.: |
00287260 |
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|
|
|
Name : |
Mr. Mark Joseph Benhard Mobius |
|
Designation : |
Director |
|
Address : |
PTD 139504, Pavilion Villa Jln Merbok 4, Leisure Farm 81560, Gelang
Patah, Lohor, 81560, |
|
Date of Birth/Age : |
17.08.1936 |
|
Date of Appointment : |
06.10.1995 |
|
DIN No.: |
00649153 |
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|
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Name : |
Mr. Vijay Chandur Advani |
|
Designation : |
Director |
|
Address : |
484, |
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Date of Birth/Age : |
30.12.1960 |
|
Date of Appointment : |
08.07.2006 |
|
DIN No.: |
00018925 |
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|
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Name : |
Mr. Plafker Andrew Jed |
|
Designation : |
Director |
|
Address : |
105, Deer Ridge Place, Danville 94506, California, Danville, United States
of America |
|
Date of Birth/Age : |
11.01.1971 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No.: |
01234645 |
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Name : |
Mr. Navroz Hormasji Seervai |
|
Designation : |
Director |
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Address : |
8, Shiv Shanti Bhavan, M. Karve Marg, Mumbai – 400 020, |
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Date of Birth/Age : |
22.02.1957 |
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Date of Appointment : |
17.05.2003 |
|
DIN No.: |
00024144 |
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|
|
Name : |
Mr. Vivek Mohan Kudva |
|
Designation : |
Director |
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Address : |
Flat No.202, 2nd Floor, Vishnu Villa, |
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Date of Birth/Age : |
29.07.1959 |
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Qualification : |
PGDM |
|
Experience : |
27 Years |
|
Date of Appointment : |
26.03.2009 |
|
PAN No.: |
AENPK7096K |
|
DIN No.: |
00748582 |
KEY EXECUTIVES
|
Name : |
Mehta and Mehta |
|
Designation : |
Company Secretary |
|
Address : |
NAvjican Society Building, No. 3, 12th Floor, Office No. 9,
Lamington Road, Mumbai – 400008, Maharashtra, India |
|
Tel No. : |
91-22-66119644 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.01.2015
|
Names of Shareholders |
|
No. of Shares |
|
Franklin Templeton Holding Limited, |
|
239333296 |
|
Vivek Kudva * |
|
4 |
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|
|
|
|
Total |
|
239333300 |
Note: * Nominee holder, beneficial interest with Franklin Templeton Holding
Limited
As on 23.01.2015
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
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|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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|
|
|
|
Total
|
|
100.00 |
%20PRIVATE%20LIMITED%20-%20321152_MIRA%2007-May-2015_files/image013.gif)
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in the business of providing
investment management and related services |
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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 |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar MargShivaji Park, Dadar, Mumbai, Maharashtra, India |
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PAN No.: |
AAEFP3641G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate holding company : |
Franklin Resources Inc., USA |
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Holding company : |
Franklin Templeton Holding Limited, Mauritius |
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Subsidiary
company: |
ITI Capital Markets Limited , India |
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Fellow subsidiary companies : |
CIN No.: U74999MH2002PTC134412
CIN No.: U67190MH2008FTC179996
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Mutual Fund managed by the Company : |
Franklin Templeton Mutual Fund |
CAPITAL STRUCTURE
As on 23.01.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
245000000 |
Equity Shares |
Rs.10/- each |
Rs. 2450.000 Million |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
239333300 |
Equity Shares |
Rs.10/- each |
Rs. 2393.333
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
2393.333 |
2393.333 |
2393.333 |
|
(b) Reserves & Surplus |
4678.569 |
4766.439 |
3413.333 |
|
(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 |
|
Total
Shareholders’ Funds (1) + (2) |
7071.902 |
7159.772 |
5806.666 |
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12.249 |
10.804 |
14.681 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
45.515 |
42.175 |
0.000 |
|
(d) long-term provisions |
65.030 |
69.086 |
63.297 |
|
Total
Non-current Liabilities (3) |
122.794 |
122.065 |
77.978 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
97.363 |
115.892 |
190.446 |
|
(c) Other current liabilities |
911.402 |
811.022 |
831.669 |
|
(d) Short-term provisions |
9.177 |
3.836 |
3.480 |
|
Total
Current Liabilities (4) |
1017.942 |
930.750 |
1025.595 |
|
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|
|
|
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TOTAL |
8212.638 |
8212.587 |
6910.239 |
|
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II.
ASSETS |
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|
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|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
238.839 |
259.613 |
301.265 |
|
(ii) Intangible Assets |
3.908 |
1.137 |
2.157 |
|
(iii) Capital work-in-progress |
0.000 |
1.362 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
16.733 |
11.659 |
11.659 |
|
(c) Deferred tax assets (net) |
279.109 |
239.723 |
209.236 |
|
(d) Long-term Loan and Advances |
204.566 |
198.125 |
200.394 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
27.679 |
|
Total
Non-Current Assets |
743.155 |
711.619 |
752.390 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
6709.564 |
6748.978 |
5630.636 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
608.978 |
673.069 |
389.949 |
|
(d) Cash and cash equivalents |
131.724 |
51.866 |
92.804 |
|
(e) Short-term loans and
advances |
18.930 |
26.403 |
23.385 |
|
(f) Other current assets |
0.287 |
0.652 |
21.075 |
|
Total
Current Assets |
7469.483 |
7500.968 |
6157.849 |
|
|
|
|
|
|
TOTAL |
8212.638 |
8212.587 |
6910.239 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
|
|
|
|
|
|
|
TOTAL
REVENUE |
5820.060 |
4685.230 |
3546.640 |
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
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TOTAL
|
2453.240 |
2868.62 |
2414.150 |
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX |
3366.820 |
1816.610 |
1132.490 |
|
|
|
|
|
|
|
Less |
TAX |
738.610 |
463.510 |
235.340 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2628.210 |
1353.100 |
897.150 |
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4693.440 |
3340.34 |
2443.190 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
263.000 |
0.000 |
0.000 |
|
|
Dividend |
2716.080 |
0.000 |
0.000 |
|
|
Total
(M) |
2979.080 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
4342.570 |
4693.440 |
3340.340 |
|
|
|
|
|
|
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|
EARNINGS
IN FOREIGN CURRENCY |
93.940 |
412.39 |
430.550 |
|
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|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
10.98 |
5.65 |
3.75 |
KEY RATIOS
|
PARTICULARS |
|
30.09.2014 |
30.09.2013 |
30.09.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
45.16 |
28.88 |
25.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
42.53 |
22.82 |
16.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
0.25 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.34 |
8.06 |
6.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.09.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2393.333 |
2393.333 |
2393.333 |
|
Reserves & Surplus |
3413.333 |
4766.439 |
4678.569 |
|
Net
worth |
5806.666 |
7159.772 |
7071.902 |
|
|
|
|
|
|
long-term borrowings |
14.681 |
10.804 |
12.249 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
14.681 |
10.804 |
12.249 |
|
Debt/Equity
ratio |
0.003 |
0.002 |
0.002 |
%20PRIVATE%20LIMITED%20-%20321152_MIRA%2007-May-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.09.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3546.640 |
4685.230 |
5820.060 |
|
|
|
32.103 |
24.221 |
%20PRIVATE%20LIMITED%20-%20321152_MIRA%2007-May-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
30.09.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3546.640 |
4685.230 |
5820.060 |
|
Profit |
897.150 |
1353.100 |
2628.210 |
|
|
25.30% |
28.88% |
45.16% |
%20PRIVATE%20LIMITED%20-%20321152_MIRA%2007-May-2015_files/image019.gif)
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 |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note: The Registered
Office of the company has been shifted from Level 4, Wockhardt Towers, Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India to the
present address w.e.f. 17.01.2012.
LITIGATION DETAILS
|
LITIGATION DETAILS |
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|
Bench:- Bombay |
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Lodging No. : |
CHSL/1534/2014 |
Failing Date:- |
19/09/201424/12/2012 |
Reg. No. : |
CHS/1015/2014 |
Reg. Date : |
14/10/2014 |
|||
|
Lodging No. : |
SL/2790/2009 |
Reg. no. : |
S/2443/2009 |
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Petitioner:- |
STANDARD CHARTERED BANK PLC |
Respondent:- |
FRANKLIN TEMPLETON ASSETS MANAGEMENT |
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Petn.Adv:- |
A R Malhotra (I3164) |
Resp. Adv.: |
MANIAR SRIVASTAVA AQSSOCIATES |
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District:- |
MUMBAI |
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Bench:- |
SINGLE |
Category:- |
CHAMBER SUMMONSTAX APPEALS |
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Status:- |
Pre-Admission |
Stage:- |
CHAMBER SUMMONS FOR HEARING ]ORIGINAL SIDE MATTERS] |
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Last Date:- |
19/06/2015 |
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Last Coram:- |
HON’BLE SMT. JUSTICE R. S. DALVI |
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Act. : |
Code of Civil Procedure 1908 |
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GENERAL INFORMATION
The Company has been incorporated in India under the Companies Act, 1956 as a private company limited by shares. The Company is engaged in the business of providing investment management and related services. The Company is the investment manager to the schemes of Franklin Templeton Mutual Fund ('the Fund') and also provides transfer agency services to the schemes of the Fund.
REVIEW OF FINANCIAL
PERFORMANCE
The Company earned gross revenue of Rs. 5,820.060 million as against Rs. 4,685.230 million in the previous year, an increase of 24.22%. The Company incurred total expenses of Rs. 2,453.240 million as against Rs. 2,868.620 million in the previous year.
The Company posted a net profit after tax of Rs. 2,628.210 million as against Rs. 1,353.100 million in the previous year, an increase of 94.24%.
REVIEW OF OPERATIONS:
The Company manages assets of FTMF and FTPES:
FTMF
· The Assets under Management (AuM) of Franklin Templeton Mutual Fund is Rs.581,212.000 million as at September 30, 2014 as against Rs.424,967.000 million as at September 30, 2013, an increase of 36.77%
· During the year, the total number of investor accounts reduced from 1.54 mn as at September 30, 2013 to 1.49 mn as at September 30, 2014
The Company presently manages 41 Schemes of FTMF. During the year, FTMF launched Franklin India Feeder - Franklin European Growth Fund & Franklin India Banking and PSU Debt Fund and merged/closed schemes as below
· Schemes closed:
- Franklin Templeton Fixed Tenure Fund (FTFTF)- Series XIV (Plan B)
- Franklin Templeton Fixed Tenure Fund (FTFTF)- Series XV
· Schemes Merged:
- Templeton India Children’s Asset Plan Education Plan merged into FT India Monthly Income Plan
- Templeton India Children’s Asset Plan Gift Plan merged into FT India Balanced Fund
- Franklin India Index Fund ? BSE Sensex Plan (FIIF-Sensex) merged into Franklin India Index Fund ? NSE Nifty Plan (FIIF-Nifty)
FTPES
· The AuM of the Franklin Templeton Private Equity Strategy (FTPES) as at September 30, 2014 was Rs. 3, 727.000 million as against Rs. 4, 984.000 million as at September 30, 2013.
AWARDS
The Company has received the following fund awards during the year 2013-14:
1) Best Wealth Creator Award Outlook Money Awards 2013
Best Equity Fund House (This award recognizes the fund house that has facilitated wealth creation with least volatility in the equity segment) Siva was adjudged as the Best Equity Fund Manager Best Fund House: Runner up
2) Fund Manager for the year 2013 (Debt) for Sachin Desai along with Umesh Sharma - Business Standard Awards
3) Asia Asset Management: 2013 Best of the Best Awards - Most Innovative Award for Investor Education: Franklin Templeton Investments
4) Morningstar India Fund Awards 2014
5)
Best Short Term Bond Fund - Templeton India Short Term Income Plan Best Intermediate Bond Fund - Templeton India Income Builder
Account
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Leasehold Improvements
- Buildings
- Furniture and Fixtures
- Computers
- Office Equipment
- Vehicles
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.63.52 |
|
|
1 |
Rs.95.96 |
|
Euro |
1 |
Rs.76.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
67 |
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.