MIRA INFORM REPORT
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Report No. : |
322395 |
|
Report Date : |
15.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
TLG INDIA PRIVATE LIMITED (w.e.f.24.05.2001) |
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|
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Formerly Known
As : |
LEO BURNETT INDIA PRIVATE LIMITED (w.e.f.06.09.2000) CHAITRA LEO BURNETT PRIVATE LIMITED (w.e.f.06.07.1992) CHAITRA ADVERTISING PRIVATE LIMITED |
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Registered
Office : |
Big Apple, Dr. Shirodkar Road, Parel, Mumbai – 400012, Maharashtra |
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Tel. No.: |
91-22-56634444 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.05.1972 |
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Com. Reg. No.: |
11-015798 |
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Capital
Investment / Paid-up Capital : |
Rs. 61.876
Million |
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|
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CIN No.: [Company Identification
No.] |
U74300MH1972FTC015798 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC1756E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Advertising and Communication services which includes traditional advertising Services (also called Creative), Media Services and Specialised Marketing Services. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary for Publicis Groups Holding BV, Netherlands.
It is an established company having moderate track. The company has recorded huge accumulated losses which has eroded the
net worth of the company. Liquidity of the company is under pressure.
Further, borrowings of the company seem to be huge as well. Business is active. Payment terms are slow. In the view of aforesaid, subject can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
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) 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Anil |
|
Designation : |
Finance Department |
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Contact No.: |
91-22-66634444 |
|
Date : |
13.05.2015 |
LOCATIONS
|
Registered Office : |
Big Apple, Dr. Shirodkar Road, Parel, Mumbai – 400012, Maharashtra,
India |
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Tel. No.: |
91-22-56634444/ 66634444/ 66634343 |
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Fax No.: |
91-22-24173825 |
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E-Mail : |
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Correspondence Office : |
15th Floor, Urmi Estate, Tower A, 95, Ganpatrao Kadam Marg,
Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-30410200 |
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Fax No.: |
91-22-30410210 |
DIRECTORS
As on 21.11.2014
|
Name : |
Mr. Nitish Mukherjee |
|
Designation : |
Whole-time director |
|
Address : |
269, Tagore Park, New Delhi – 110009, India |
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Date of Birth/Age : |
09.05.1958 |
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Date of Appointment : |
01.11.2000 |
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PAN No.: |
AALPM7977R |
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Voter ID No.: |
DL/06/061/222912 |
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DIN No.: |
00561390 |
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Name : |
Mr. Jaroslaw Piotr Ziebinski |
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Designation : |
Director |
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Address : |
38, Mount Echo
Park, Singapore 248792 |
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Date of Birth/Age : |
08.06.1962 |
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Date of Appointment : |
16.07.2009 |
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DIN No.: |
02710385 |
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|
|
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Name : |
Mr. Thomas Lloyd Bernardin |
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Designation : |
Director |
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Address : |
614 Spruce Ave Lake Forest United States 60045 |
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Date of Birth/Age : |
23.09.1953 |
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Date of Appointment : |
23.07.2010 |
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DIN No.: |
03546513 |
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|
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Name : |
Mr. Manjit Singh Sandhu |
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Designation : |
Director |
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Address : |
630 Upper Thomson Road, #02-70, Singapore 787132 |
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Date of Birth/Age : |
23.09.1953 |
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Date of Appointment : |
27.06.2012 |
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DIN No.: |
05280786 |
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|
|
|
Name : |
Mr. Saurabh Subash Varma |
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Designation : |
Whole-time director |
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Address : |
C 3703, Vivarea Apartment, 37th Floor, Aanandrao Nair Marg,
Jacob Circle, Mumbai – 400011, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1974 |
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Date of Appointment : |
01.11.2013 |
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DIN No.: |
06839898 |
KEY EXECUTIVES
|
Name : |
Mr. Anil |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.11.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Publicis Groupe Holdings BV, Netherlands |
618756 |
99.98 |
|
Arebu Holdings B V, Netherlands |
100 |
0.02 |
|
Total |
618856 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 21.11.2014
|
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 : |
Providing Advertising and Communication services which includes traditional advertising Services (also called Creative), Media Services and Specialised Marketing Services. |
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|
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Products : |
· LeoBurnett · Starcom · ZenithOptimedia · Digitas · Vivaki Exchange · Liquid Thread |
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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 : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
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Address : |
The Ruby, 12th Floor, Zone A, 29 Senapati Bapat
Marg, Dadar [West], Mumbai - 400028, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
· Publicis Groupe Holdings BV, Netherlands |
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Subsidiary company: |
· Orchard Advertising Private Limited · Solutions Integrated Marketing (S) Pte Limited |
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Fellow Subsidiary
company: |
· B Randmap Communications Private Limited · BBH Communications India Private Limited, India [U74990MH2009PTC191502] · Convonix Systems Private Limited, India [U64202MH2005PTC150752] · Flip Media Private Limited, India [U74300MH2006PTC163761] · Hanmer Msl Communications Private Limited, India [U74130MH1999PTC121551] · Indigo Systems and Technology Consulting (India) Private Limited, India [U72200MH2000PTC128824] · I-Strat Software Private Limited, India [U72900DL2003PTC120323] · LBi Technologies India Private Limited, India [U51900MH1996PTC098352] · MARKETGATE CONSULTING PRIVATE LIMITED, India [U71140MH2005PTC152226] · MarketGate Dimensions Research India Private Limited, India [U74999MH2011PTC220262] · Neev Information Technologies Private Limited, India [U72200KA2006PTC038514] · Publicis Communications Private Limited, India [U74300MH1997PTC112086] · Resultrix Media Private Limited, India [U22130MH2008PTC183168] · Saatchi and Saatchi Private Limited, India [U84200MH1994PTC078410] · Solutions Integrated Marketing Services Private Limited, India [U74899MH1994PTC235016] · Twenty Twenty Media Private Limited, India [U74899MH1989PTC254154] · Twenty Twenty Webtech Private Limited, India [U72200MH1999PTC255241] · Watermelon Healthcare Communications Private Limited, India [U22220MH2010PTC206045] · Capital MSL, London · Denuo Limited - Zenith Optimedia,Hongkong · Digitas Hongkong · Digitas Inc. USA · LB Shangai Advertising Company Limited, Beijing · Leo Burnett Company Inc, Chicago · Leo Burnett Company Limited, Canada · Leo Burnett FZ LLC, UAE · Leo Burnett Global Centre,USA · Leo Burnett Groupe, Indonesia · Leo Burnett Limited, Argentina · Leo Burnett Limited, Hong Kong · Leo Burnett Limited, London · Leo Burnett Limited, Malaysia · Leo Burnett Limited, Philippines · Leo Burnett Limited, Russia · Leo Burnett Limited, Singapore · Leo Burnett MandT Vietnam · Leo Burnett Sydney Pty Limited. · Manning Selvage and Lee Public Relations · M M S Communications Singapore Pte. Limited · MSL Stockholm, Sweden · MSL, Atlanta · MSL, Canada · MSL, Germany · MSL, Hongkong · MSL, London · MSL, San Francisco · MSL, Singapore · MSL, Taiwan · MSL, Washington DC,USA · MSL,Netherlands · Ninah Consulting Limited,USA · Performics, Singapore · PG Lion Re:Sources Australia Pty Limited, · Phone Valley, Singapore · Publicis Consultants, France · Publicis Communication Espana S.L. · Publicis Consultants PR Inc. · Publicis Worldwide Hk Limited., Hong Kong · Razorfish UK Limited., UK · Resources, France · Resources, USA · Saatchi and Saatchi North America Inc, USA · Schwartz MSL LLC, USA · Star Reacher Advertising Sdn Bhd, Malaysia · Star Reacher Group Comapny Limited. Thailand · Starcom Dubai, United Arab Emirates · Starcom Guangzhou, China · Starcom Mediavest Group FZ LLC, UAE · Starcom Mediavest Group Philippines · Starcom Mediawest Group Inc, USA · Starcom Of Denuo Limited, Taiwan · Starcom, Asia Pacific · Starcom, Chicago · Starcom, Malasiya · Starcom, Singapore · VivaKi (Malaysia) Sdn. Bhd · Vivaki Inc, USA · Vivaki performance zentih optimedia · Vivaki Nerve Center · Vivaki USA · Zenith Optimedia International Limited, United Kingdom · Zenith Optimedia, Australia · Zenith Optimedia, Belgium · Zenith Optimedia, France · Zenith Optimedia, Singapore · Zenith Optimedia, Hong Kong · Zenith Optimedia, USA |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
860000 |
Equity Shares |
Rs.100/- each |
Rs. 86.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
618759 |
Equity Shares |
Rs.100/- each |
Rs. 61.876
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 |
61.876 |
30.065 |
30.065 |
|
(b) Reserves & Surplus |
(774.032) |
(200.458) |
(219.961) |
|
(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) |
(712.156) |
(170.393) |
(189.896) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
4.042 |
|
(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 |
0.979 |
24.790 |
32.382 |
|
Total
Non-current Liabilities (3) |
0.979 |
24.790 |
36.424 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1146.308 |
471.544 |
1170.807 |
|
(b) Trade payables |
2683.157 |
4190.455 |
3954.614 |
|
(c) Other current liabilities |
1608.209 |
2492.448 |
1398.281 |
|
(d) Short-term provisions |
116.555 |
81.799 |
61.314 |
|
Total
Current Liabilities (4) |
5554.229 |
7236.246 |
6585.016 |
|
|
|
|
|
|
TOTAL |
4843.052 |
7090.643 |
6431.544 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
129.082 |
118.439 |
53.645 |
|
(ii) Intangible Assets |
42.646 |
55.401 |
10.170 |
|
(iii) Capital work-in-progress |
6.617 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
17.867 |
|
(b) Non-current Investments |
1.012 |
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
896.805 |
473.915 |
536.229 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
1.603 |
|
Total
Non-Current Assets |
1076.162 |
647.955 |
619.714 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
48.196 |
50.929 |
0.000 |
|
(c) Trade receivables |
2512.528 |
3759.597 |
4140.828 |
|
(d) Cash and cash equivalents |
0.697 |
36.440 |
65.267 |
|
(e) Short-term loans and
advances |
276.700 |
425.516 |
331.039 |
|
(f) Other current assets |
928.769 |
2170.206 |
1274.696 |
|
Total
Current Assets |
3766.890 |
6442.688 |
5811.830 |
|
|
|
|
|
|
TOTAL |
4843.052 |
7090.643 |
6431.544 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2526.893 |
2118.287 |
1625.255 |
|
|
Other Income |
130.507 |
143.623 |
212.662 |
|
|
TOTAL
|
2657.400 |
2261.910 |
1837.917 |
|
|
|
|
|
|
|
Less |
EXPENSES |
3216.736 |
2242.167 |
1971.536 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(559.336) |
19.743 |
(133.619) |
|
|
|
|
|
|
|
Less |
TAX |
641.978 |
(19.264) |
59.729 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1201.314) |
39.007 |
(193.348) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Gross billings (including
commission) for advertising |
NA |
399.094 |
121.728 |
|
|
TOTAL
EARNINGS |
NA |
399.094 |
121.728 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(1.94) |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(47.54) |
1.84 |
(11.90) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.57) |
0.28 |
(2.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.79 |
(0.12) |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(1.61) |
(2.77) |
(6.19) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68 |
0.89 |
0.88 |
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 |
30.065 |
30.065 |
61.876 |
|
Reserves & Surplus |
(219.961) |
(200.458) |
(774.032) |
|
Net
worth |
(189.896) |
(170.393) |
(712.156) |
|
|
|
|
|
|
long-term borrowings |
4.042 |
0.000 |
0.000 |
|
Short term borrowings |
1170.807 |
471.544 |
1146.308 |
|
Total
borrowings |
1174.849 |
471.544 |
1146.308 |
|
Debt/Equity
ratio |
(6.187) |
(2.767) |
(1.610) |
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) |
|
Sales |
1625.255 |
2118.287 |
2526.893 |
|
|
|
30.336 |
19.289 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1625.255 |
2118.287 |
2526.893 |
|
Profit |
(193.348) |
39.007 |
(1201.314) |
|
|
(11.90%) |
1.84% |
(47.54%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: 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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
BUSINESS OVERVIEW:
The Company is principally engaged in providing a range of Advertising and Communication services which includes traditional advertising Services (also called Creative), Media Services and Digital Marketing Services by acting as full service agency. They operate under the brands primarily known as Leo Burnett, Starcom, Zenith Optimedia, Digitas, Vivaki Exchange and Liquid Thread.
During the year the Company has received mixed response from Clients in terms of their desire to Invest in Indian Market and thereby increase their spending in Media. However, they remain cautious in the midst of a volatile Global Market.
Companys continued effort in generating value to their Clients with most powerful creative advertisements and focusing on driving Return on Investment, managing best deals, generating powerful Research, effective usage of Media funds etc ensured that the company continues to maximise client satisfaction.
Leo Burnett has been well placed in the advertising fraternity by gathering 50 prominent awards for distinctive work done by the agency at the Goa Fest 2013 by leading the Award Tally.
The Company continues to remain focused in targeting growth industries and focusing on digital media, and thus reap the benefits in the coming years, while remained focused n developing and retaining quality talent.
During the year, the company added substantial new business to its existing client portfolio by winning the accounts of Honda Siel Cars, India Bulls, GlaxosmithKline, Jaiprakash Associates and so on.
AMALGAMATION OF
HANMER MSL COMMUNICATIONS PRIVATE LIMITED WITH THE COMPANY
a) applicable provisions of the Companies Act, 1956, the company has taken over business of Hanmer MSL Communications Private Limited (Hanmer) with effect from April 1, 2012, being the Appointed Date. All the assets and liabilities of Hanmer as at April 1, 2012 are transferred to the company at their respective book values.
b) The Scheme is effective from the Appointed Date (April 1, 2012) but is operative from the date on which the certified copies of the Orders of the Honbl'e High Court of Mumbai are filed.
c) General business of the amalgamating companies is providing a range of advertising services, which includes media, creative, print production, artwork, public relations etc.
d) accruing or arising to Hanmer are treated as profits or losses of the company.
e) As per the Scheme, the company issued and alloted 100,000 fully paid up equity shares of Rs. 100/- each for Rs. 565/- per share to the shareholders of transferor company as consideration
f) Accordingly, all the assets and liabilities of Hanmer as at April 1, 2012 were taken over by the company and management estimated the book value of these assets and liabilities to approximate their fair values as on April 1, 2012. The difference between the net assets of Hanmer transferred to the company and the purchase consideration given by the company is adjusted against the profit / loss account balance.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances, others |
1146.308 |
471.544 |
|
Total |
1146.308 |
471.544 |
FIXED ASSETS
Tangible assets
· Furniture and fixtures
· Vehicles
· Office equipment
· Leasehold improvements
Intangible assets
· 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.63.84 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.