|
|
|
MIRA INFORM REPORT
|
Report No. : |
502299 |
|
Report Date : |
09.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
THG PUBLISHING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kasturi Buildings, 859 and 860, Anna Salai, Chennai -600002, Tamilnadu |
|
Tel. No.: |
91-44-28576300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.03.2017 |
|
|
|
|
Com. Reg. No.: |
18-115593 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 19.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22300TN2017PTC115593 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCT1726K |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AAGCT1726K1ZC |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in printing of Newspaper and other publications (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 9180000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
THG Publishing Private Limited was incorporated on 21st March 2017. It
is a wholly owned subsidiary of Kasturi & Sons Limited. As per the financial of 2017 (21st March 2017-31st March 2017), the
company has achieved sales turnover of INR 11576.165 million and has earned
an average net profit margin of 4.73%. The company possesses sound financial position marked by strong net
worth base along with low debt balance sheet profile. Rating takes into consideration the strength that the company derives
from its holding company. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. NOTE: Subsequent to incorporation (on 21st March 2017), the shares of
the company was transferred to of Kasturi & Sons Limited (Demerged
Company) and the company became a wholly owned subsidiary of the Demerged
Company. The Board of Directors of the company, at the meeting held on 31st
March 2017, approved a Scheme of Arrangement (‘Scheme’) for the demerger of
the Publishing Business Undertaking of the Demerged Company, on a going
concern basis, in favor of the Company. The Publishing Business Undertaking
includes, but not limited to, the undertaking of the Demerged Company
relating to the business of printing and publishing of newspapers, journals,
magazines and periodicals, including the operations relating to News Portal
and Event Management. The shareholders of the Company provided their consent
to the Scheme vide their affidavits dated 31st March 2017 and the same was
filed with the National Company Law Tribunal, Chennai (‘NCLT’). The Scheme was sanctioned by the NCLT vide its Order dated 29th
August, 2017. The Scheme has become effective on 6th September, 2017, being
the date of filing of the aforementioned Order of Sanction with the Registrar
of Companies, Tamil Nadu, Chennai. The Appointed Date for transfer and
vesting of the Publishing Business Undertaking of the Demerged Company into
the Company was 1st April 2016. The Shareholders of the Demerged Company are entitled for issue and
allotment of one equity share for every one equity share held in Demerged
Company, of INR 100 each in the Resulting Company. Pursuant to the order of NCLT, the publishing business of the Demerged
Company shall be carried on by the Company. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 07.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Venkat Raman |
|
Designation : |
Procurement Department |
|
|
|
|
Name : |
Ms. Gayathri Bhat |
|
Designation : |
Account Department |
|
Contact No.: |
91-44-28576300/28576657 |
|
Date : |
05.04.2018 |
LOCATIONS
|
Registered Office : |
Kasturi Buildings, 859 and 860, Anna Salai, Chennai -600002,
Tamilnadu, India |
|
Tel. No.: |
91-44-28576300 |
|
Fax No.: |
91-44-28415325 |
|
E-Mail : |
DIRECTORS
As on 2018
|
Name : |
Mr. Rajiv Chellappa Lochan |
|
Designation : |
Managing Director |
|
Address : |
11-1, Panchajanya Plot 10-1, Valliammai Aachi Road, Kotturpuram,
Chennai -600085, Tamilnadu, India |
|
Date of Appointment : |
21.03.2017 |
|
DIN No.: |
05309534 |
|
|
|
|
Name : |
Nirmala Lakshman |
|
Designation : |
Whole Time Director |
|
Address : |
30-A, Kasturi Ranga Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Appointment : |
15.09.2017 |
|
DIN No.: |
00141632 |
|
|
|
|
Name : |
Mr. Mahalingam Seturaman |
|
Designation : |
Director |
|
Address : |
6, Subbaraya Iyer Avenue, Abhiramapuram, Chennai – 600018, Tamilnadu,
India |
|
Date of Appointment : |
15.09.2017 |
|
DIN No.: |
00121727 |
|
|
|
|
Name : |
Murali Narasimhan |
|
Designation : |
Director |
|
Address : |
260A, T.T.K. Road, Alwarpet, Chennai- 600018, Tamilnadu, India |
|
Date of Appointment : |
15.09.2017 |
|
DIN No.: |
00141517 |
|
|
|
|
Name : |
Mr. Ram Narasimhan |
|
Designation : |
Director |
|
Address : |
43-B, Kasturi Ranga Road Teynampet Chennai 600019, Tamilnadu, India |
|
Date of Appointment : |
15.09.2017 |
|
DIN No.: |
00141557 |
|
|
|
|
Name : |
Nalini Krishnan |
|
Designation : |
Director |
|
Address : |
7-A, Parthasarathy Gardens, Alwarpet Chennai- 600018, Tamilnadu, India |
|
Date of Appointment : |
15.09.2017 |
|
DIN No.: |
00141641 |
|
|
|
|
Name : |
Malini Parthasarathy |
|
Designation : |
Director |
|
Address : |
280, J.J.Road, Alwarpet, Chennai -600018, Tamilnadu, India |
|
Date of Appointment : |
15.09.2017 |
|
DIN No.: |
00141685 |
|
|
|
|
Name : |
Mr. Rohit Ramesh |
|
Designation : |
Director |
|
Address : |
New 15 Old 7, Parthasarathy Gardens, Alwarpet, Chennai- 600018,
Tamilnadu, India |
|
Date of Appointment : |
15.09.2017 |
|
DIN No.: |
07025579 |
|
|
|
|
Name : |
Aparna Ravi |
|
Designation : |
Director |
|
Address : |
No.27, 16th Cross, 12th Main, Malleswaram, Bangalore- 560055,
Karnataka, India |
|
Date of Appointment : |
13.12.2017 |
|
DIN No.: |
07935533 |
|
|
|
|
Name : |
Mr. Prithvi Arun |
|
Designation : |
Director |
|
Address : |
New No 189, Old No .122, Saint Marys Road , Alwarpet Chennai -600018,
Tamilnadu, India |
|
Date of Appointment : |
13.12.2017 |
|
DIN No.: |
07945825 |
|
|
|
|
Name : |
Mr. Vishal Vijay |
|
Designation : |
Director |
|
Address : |
65 Coronation Road Singapore 269464 Sg |
|
Date of Appointment : |
13.12.2017 |
|
DIN No.: |
07955623 |
|
|
|
|
Name : |
Malavika Nataraj |
|
Designation : |
Director |
|
Address : |
Old No. 60, New No. 38,1st Main Road, R.A. Puram, Chennai -600028, Tamilnadu,
India |
|
Date of Appointment : |
13.12.2017 |
|
DIN No.: |
07974992 |
|
|
|
|
Name : |
Divya Venugopal |
|
Designation : |
Director |
|
Address : |
No.30, Kasturi Ranga Road, Dr Agarwal Eye Hospital, Alwarpet, Chennai-
600018, Tamilnadu, India |
|
Date of Appointment : |
13.12.2017 |
|
DIN No.: |
07984123 |
KEY EXECUTIVES
|
Name : |
Nambirajan |
|
Designation : |
Chief Finance Officer |
|
Address : |
No.1 Sbi Officers Colony Police Manickam Street Ayanavram, Chennai
-600023, Tamilnadu, India |
|
Date of Appointment : |
13.12.2017 |
|
PAN No.: |
AABPN8032C |
|
|
|
|
Name : |
Mr. Venkat Raman |
|
Designation : |
Procurement Department |
|
|
|
|
Name : |
Ms. Gayathri Bhat |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Kasturi and Sons Limited and its nominee |
190999 |
|
N sathya Narayanan (nominee of
Kasturi and Sons Limited) |
1 |
|
Total |
191000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in printing of Newspaper and other publications (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
48, Masilamani Road, Balaji Nagar, Royapettah, Chennai -600014, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB2481J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Fellow
subsidiaries: |
|
CAPITAL STRUCTURE
After 26.09.2017
Authorised Capital : INR 40.000 Million
Issued, Subscribed & Paid-up Capital : INR 36.700 Million
As on 26.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
INR 100/- each |
INR 40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
191000 |
Equity Shares |
INR 100/- each |
INR 19.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
21.03.2017 to 31.03.2017 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
19.100 |
|
(b) Reserves & Surplus |
|
|
3194.558 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
3213.658 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1467.440 |
|
(b) Deferred tax liabilities (Net) |
|
|
10.371 |
|
(c) Other long term
liabilities |
|
|
0.222 |
|
(d) long-term
provisions |
|
|
691.668 |
|
Total Non-current
Liabilities (3) |
|
|
2169.701 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
74.584 |
|
(b) Trade
payables |
|
|
777.502 |
|
(c) Other
current liabilities |
|
|
1753.573 |
|
(d) Short-term
provisions |
|
|
27.928 |
|
Total Current
Liabilities (4) |
|
|
2633.587 |
|
|
|
|
|
|
TOTAL |
|
|
8016.946 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
4137.507 |
|
(ii)
Intangible Assets |
|
|
104.020 |
|
(iii)
Capital work-in-progress |
|
|
240.151 |
|
(iv)
Intangible assets under development |
|
|
63.014 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
18.772 |
|
(e) Other
Non-current assets |
|
|
181.968 |
|
Total Non-Current
Assets |
|
|
4745.432 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
860.861 |
|
(c) Trade
receivables |
|
|
1793.209 |
|
(d) Cash
and cash equivalents |
|
|
492.532 |
|
(e)
Short-term loans and advances |
|
|
0.000 |
|
(f) Other
current assets |
|
|
124.912 |
|
Total
Current Assets |
|
|
3271.514 |
|
|
|
|
|
|
TOTAL |
|
|
8016.946 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
21.03.2017 to 31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
11576.165 |
|
|
Other Income |
|
|
142.095 |
|
|
TOTAL |
|
|
11718.260 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
2910.756 |
|
|
Employees benefits
expense |
|
|
4157.006 |
|
|
Other expenses |
|
|
2919.846 |
|
|
TOTAL |
|
|
9987.608 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
1730.652 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
277.351 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
1453.301 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
775.340 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
677.961 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
130.692 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
547.269 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
124.961 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
1491.20 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
21.03.2017 to 31.03.2017 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
NA |
|
Net cash flows from (used in) operations |
|
|
1971.305 |
|
Net cash flows from (used in) operating activity |
|
|
2088.093 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
21.03.2017 to 31.03.2017 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
56.54 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
6.46 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
97.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
2.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
21.03.2017 to 31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
0.48 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
0.82 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
1.41 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
6.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
21.03.2017 to 31.03.2017 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
|
4.73 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
6.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
17.03 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
21.03.2017 to 31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
0.92 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
80.73 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.24 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 |
Yes |
|
8] |
Designation of contact person |
Yes |
|
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 |
No |
|
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 about 10 days |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last about 10 days |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
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 |
SCHEME OF ARRANGEMENT
(DEMERGER)
The Company was incorporated (CIN: U22300TN2017PTC115593) on 21st March 2017 under the Companies Act, 2013. Subsequent to incorporation, the shares of the Company was transferred to Kasturi & Sons Limited (“Demerged Company”) and the Company became a wholly-owned subsidiary of the Demerged Company.
The Board of Directors of the Company, at the meeting held on 31 st March, 2017, approved a Scheme of Arrangement (‘Scheme’) for the demerger of the Publishing Business Undertaking of the Demerged Company, on a going concern basis, in favour of the Company. The Publishing Business Undertaking includes, but not limited to, the undertaking of the Demerged Company relating to the business of printing and publishing of newspapers, journals, magazines and periodicals, including the operations relating to News Portal and Event management.
The shareholders of the Company provided their consent to the Scheme vide their affidavits dated 31 st March 2017 and the same was filed with the National Company Law Tribunal, Chennai (‘NCLT’). The Scheme was sanctioned by the NCLT vide its Order dated 29th August, 2017. The Scheme has become effective on 6 th September, 2017, being the date of filing of the aforementioned Order of Sanction with the Registrar of Companies, Tamil Nadu, Chennai. The Appointed Date for transfer and vesting of the Publishing Business Undertaking of the Demerged Company into the Company was 1st April, 2016.
The shareholders of the Demerged Company are entitled for issue and allotment of one equity share for every one equity share held in Demerged Company, of Rs.100 each in the Resulting Company. Pursuant to the order of NCLT, the publishing business of the Demerged Company shall be carried on by your Company.
GENERAL INFORMATION
OF THE COMPANY CORPORATE INFORMATION
The Company is engaged in printing of Newspaper and other publications. The Company publishes “The Hindu” Daily “The Hindu Business Line” Daily “Sportstar” Weekly “Frontline” Fortnightly in English and “The Hindu” Daily in Tamil. The Company is private limited company incorporated in India and have its registered office at Chennai, Tamil Nadu The financial statements were approved by the Board of Directors and authorised for issue on 15th September, 2017
The Company is a Private Limited Company.
The Registered Office of the Company is located at 859 and 860, Kasturi Buildings, Anna Salai, Chennai, Tamilnadu. The Company was incorporated (CIN: U22300TN2017PTC115593) on 21st March 2017 under the Companies Act, 2013. Subsequent to incorporation, the shares of the Company was transferred to Kasturi and Sons Limited (“Demerged Company”) and the Company became a wholly-owned subsidiary of the Demerged Company.
The results for the period from 21 March 2017 to 31 March 2017 are after giving effect to the Scheme of Arrangement (Demerger) with Kasturi and Sons Limited the whereby Publishing Business Undertaking of Kasturi &Sons Limited was demerged into the Company with appointed date of April 1, 2016.
Pursuant to the Scheme of Arrangement (“the Scheme”) the details relating to which are more elaborately provided under Note 2 below, the Publishing Business Undertaking of the Demerged Company was vested in/transferred to the Company vide the Order of the National Company Law Tribunal, Chennai (“NCLT”) dated 29th August 2017 sanctioning the Scheme (“Order of NCLT”). The Scheme was given effect by filing of a certified copy of the Order of NCLT on 6 September 2017 by the Company and the Demerged Company with the Registrar of Companies, Tamil Nadu, Chennai. The Scheme is effective from the Appointed Date i.e. 1” April 2016.
The Company has printing and publishing facilities across the Country and is the publisher of reputed newspapers, journals, magazines and periodicals i.e. The Hindu, The Hindu Business Line, The Hindu Tamil, Sportstar, Frontline and their internet editions.
Scheme of Arrangement
The Scheme of Arrangement (“the Scheme”) between Kasturi & Sons Limited (Demerged Company) and the Company (“Resulting Company”) and their Shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 was approved by the Board of Directors of the Demerged Company on 24th March 2017 and Resulting Company on 31st March 2017.
The Demerged Company, interalia, was engaged in the business of printing and publishing of newspapers, journals, magazines and periodicals, including the operations relating to News Portal and Event management (“Publishing Business Undertaking”).
The Scheme provided for the demerger of the Publishing Business Undertaking of the Demerged Company into this Company, on a going concern basis, with effect from the appointed date of 1St April 2016.
The salient features of the Demerger are as under:
The Demerged Company and the Company has made applications and/or petitions under Section 230 read with Section 232 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013 to the National Company Law Tribunal, Chennai (“Tribunal” or “NCLT”) for sanction of this Scheme and all matters ancillary or incidental thereto.
The whole of the undertaking and assets and properties of the Publishing Business Undertaking of the Demerged Company, stand transferred to and vested in the Company with all the rights, title and interest pertaining to the Publishing Business Undertaking.’
The Scheme of Arrangement would become effective from the Appointed Date i.e. 1” April 2016 but shall be operative from the Effective Date i.e. 6 September 2017 being the date of filing of a certified copy of the Order of NCLT by the Company and the Demerged Company with the Registrar of Companies, Tamilnadu, Chennai.
INDEX
OF CHARGES: NO CHARGES EXISTS FOR COMPANY
FIXED ASSETS
- Plant and equipment
- Other plant and equipment
- Furniture and
- Fixtures
- Vehicles
- Motor vehicles
- Office equipment
Website details
News/ press releases
AWARD FOR THE HINDU
CFO
Date: 17.03.2018
The eighth edition of the CFO100 awards, recognising a total of 100 senior finance professionals to lead the way with their acumen, leadership and financial sense was held in Mumbai on Friday night. Among senior finance professionals to make it to the roll of honour this year was THG Publishing Pvt Ltd, chief financial officer and company secretary, Nambi Rajan N. He was nominated under the mergers and acquisitions category with eight more finance professionals.
On the occasion, Mr. Nambi Rajan was felicitated by the former chairman of Securities and Exchange Board of India (SEBI), M. Damodaran. A total of 16 areas such as risk management, cash maṅagement and capital raising were looked at by the jury comprising peers and experts on the subject. “I have been in this organisation for the last three years now. Getting external recognition is really motivating and energising. The team gets due credit as well. As a chief financial officer, we need to look at the business strategies, ensure compliance, internal audit, budgeting and taxation, it is a wide process,” Mr. Nambi Rajan said.
Mr. Nambi Rajan has a work experience of 25 years and is also fellow member of Institute of Chartered Accountants of India,associate member of Institute of Cost and Maṅagement Accountants and Institute of Company Secretaries of India.
SEPARATE ENTITY FOR
PUBLISHING BUSINESS OF THE HINDU'S KASTURI & SONS LIMITED
DATE: 26.09.2017
NEW DELHI: The publishing business of Kasturi & Sons Limited(KSL) that brings out The Hindu group of publications has been demerged from the holding company into a separate entity, the company announced today.
This and other changes as part of restructuring of The Hindu group came into effect on September 16, according to a press release issued by Kasturi & Sons Limited, the holding company of The Hindu group of publications with its headquarters in Chennai. N. Murali has been appointed Chairman and Nalini Krishnan Co-Chairperson of Kasturi & Sons Limited, the release said, adding the existing directors of the company before demerger constitutes the board of directors of this company.
As part of the restructuring, the newspapers, magazines and digital news media publications of The Hindu group has become a part of the publishing company, THG Publishing Private Limited, the release said. N. Ram has been appointed Chairman and Malini Parthasarathy the Co-Chairperson of the publishing company whose board has been constituted with the existing directors of KSL, the release said.
Ram, a former Editor-in-Chief of The Hindu, has until now been the Chairman of Kasturi & Sons Ltd. N. Ravi, former Editor and a member of the KSL board, has been appointed Publisher of The Hindu and the other publications, the release said.
The Group's publications include the 140-year-old English daily, The Hindu, the four-year-old daily The Hindu Tamil, the business newspaper The Hindu BusinessLine, the fortnightly Frontline, and the weekly Sportstar. The company has an active presence in the online sphere, the newspaper having started the first website for any Indian newspaper as early as in 1996.
The process of demerger of the publishing business into a separate entity is now complete under the Companies Act, with the sanctioning of a scheme of arrangement by the Chennai branch of the National Company Law Tribunal under its order dated August 29, 2017, the release said. The process of holding the requisite board meetings and shareholder meetings has been completed in phases during September, it added.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records 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
|
INR |
|
US Dollar |
1 |
INR 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.