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|
|
MIRA INFORM REPORT
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Report No. : |
502538 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
AIRTEL PAYMENTS BANK LIMITED (w.e.f. 02.05.2016) |
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Formerly Known
As : |
AIRTEL M COMMERCE SERVICES LIMITED |
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Registered
Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase–II, New
Delhi - 110070 |
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Tel. No.: |
91-11-46666100 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
01.04.2010 |
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Com. Reg. No.: |
55-201058 |
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Capital
Investment / Paid-up Capital : |
INR 9943.820 Million |
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CIN No.: [Company Identification
No.] |
U65100DL2010PLC201058 |
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IEC No.: [Import-Export Code No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAICA4398J |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company engaged in business of providing Semi-Closed Prepaid Payment Instrument and domestic remittance services. (Registered Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Maximum Credit Limit : |
USD 14100000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Bharti Airtel Limited” incorporated in the year 2010 having good track record. The subject is engaged in the business of providing semi-closed prepaid payment instrument and domestic remittance services. For the financial year 2017, the company has achieved top line growth in its revenue as compared to its previous year but has incurred heavy losses during the year which has resulted into negative reserve level. Rating takes into consideration, the healthy financial risk profile marked by strong capital base and comfortable debt protection metrics. Rating continue to derive strength from its established track record of its business operation backed by its well-experienced management team along with strong financial support from its holding entity. However, these rating gets partially offset by its continuous operational losses and regulatory risk imposed by RBI. Payment seems to be usually correct. In view of aforesaid, the company can be considered 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.
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 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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 11.04.2018
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 DECLINED
Unable to contact
(Tel No.:
91-11-46666100 - Continuously Ringing)
LOCATIONS
|
Registered Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase–II, New
Delhi – 110070, India |
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Tel. No.: |
91-11-46666100 |
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Fax No.: |
91-11-41666137 |
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E-Mail : |
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Website : |
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Corporate Office/ Head Office : |
Airtel Center, Plot No.16, Udyog Vihar, Phase – IV, Gurugram – 122015,
Haryana, India |
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Tel. No.: |
91-124-4222222 |
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Fax No.: |
91-124-4243252 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rakesh Kapur |
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Designation : |
Director |
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Address : |
B - 9/12, G.F. Vasant Vihar, New Delhi-110057, India |
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Date of Appointment : |
26.04.2016 |
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DIN No.: |
00007230 |
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Other
Directorship:
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Name : |
Mr. Sunil Bharti Mittal |
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Designation : |
Director |
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Address : |
19, Amrita Shergil Marg, New Delhi-110003, India |
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Date of Birth/Age : |
23.10.1957 |
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Qualification : |
Graduate from Panjab University Honorary doctorate- of laws by the University of Leeds, UK; of civil law by Newcastle University, UK; of philosophy by the Punjab Technical University, Jalandhar and Amity University, Gurgaon; of science by IIT, Kharagpur and Govind Ballabh Pant University of Agriculture and Technology Honorary fellow of the Institution of Electronics and Telecommunication Engineers. An alumnus of Harvard Business School {HBS). |
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Date of Appointment : |
26.04.2006 |
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DIN No.: |
00042491 |
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Other
Directorship:
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Name : |
Mr. Arijit Ranjan Sarker |
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Designation : |
Director |
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Address : |
D-1/28, DLF Qutab Enclave, Phase-1, Gurugram-122002, Haryana, India |
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Date of Appointment : |
26.04.2016 |
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DIN No.: |
00249732 |
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Other
Directorship:
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Name : |
Mr. Mohan Narayan Shenoi |
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Designation : |
Director |
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Address : |
Flat No. 53, 5th Floor, A Tower, Kalpataru Residency, Road No. 8, Sion
(East), Mumbai-400022, Maharashtra, India |
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Date of Appointment : |
26.04.2016 |
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DIN No.: |
01603606 |
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Name : |
Mr. Gopal Vittal |
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Designation : |
Director |
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Address : |
A2/1202, Sector 30, Gurugram-122001, Haryana, India |
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Date of Birth/Age : |
18.06.1966 |
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Date of Appointment : |
26.04.2016 |
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DIN No.: |
02291778 |
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Other
Directorship:
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Name : |
Mr. Vittaldas Leeladhar |
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Designation : |
Director |
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Address : |
Leelakala, House No. 5-84/2 Padavinangaday, Konchady Post, Mangalore D
K 575008 |
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Date of Appointment : |
26.04.2016 |
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DIN No.: |
02630276 |
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Other
Directorship:
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Name : |
Punita Lal |
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Designation : |
Director |
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Address : |
909B, The Aralias DLF, Golf Links, Gurugram – 122009, Haryana, India
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Date of Appointment : |
26.04.2016 |
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DIN No.: |
03412604 |
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Other
Directorship:
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Name : |
Mr. Ashish Das |
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Designation : |
Director |
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Address : |
B - 115, White House, IIT Bombay, Powai, Mumbai 400076, Maharashtra,
India |
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Date of Appointment : |
26.04.2016 |
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DIN No.: |
07290894 |
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KEY EXECUTIVES
|
Name : |
Mr. Amrut Gopal Palan |
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Designation : |
Chief Financial Officer |
|
Address : |
B/11, Yogakshema 34, Nath Pai Nagar, Ghatkopar, Mumbai 400077, Maharashtra, India |
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Date of Birth/Age : |
20.09.1969 |
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Date of Appointment : |
26.02.2016 |
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PAN No.: |
AHNPP0564C |
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Name : |
Ms. Suman Singh |
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Designation : |
Company Secretary |
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Address : |
C-39B, Rajat Vihar, Sector 62, Noida Gautam Buddha Nagar, Noida-201301, Uttar Pradesh, India |
|
Date of Appointment : |
08.05.2017 |
|
PAN No.: |
APWPS2533P |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Bharti Airtel Limited, India |
|
395999995 |
|
Bharti Airtel Limited, India |
|
400500000 |
|
Kotak Mahindra Bank Limited, India |
|
197882022 |
|
Suman Singh* |
|
1 |
|
Shweta Girotra* |
|
1 |
|
Rohit Krishan Puri* |
|
1 |
|
Devendra Khanna* |
|
1 |
|
Puneet Tandon* |
|
1 |
|
Total |
|
994382022 |
*Beneficial interest with Bharti Airtel Limited
Equity Share Break up (Percentage of Total Equity)
As on 20.07.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
80.10 |
|
Public/Other than promoters (Banks) |
19.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in business of providing Semi-Closed Prepaid Payment Instrument and domestic remittance services. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
Reserve Bank of India |
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
Golf View, Corporate Tower-B, Sector 42, Sector Road, Gurugram –
122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
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|
Memberships : |
Not Available |
|
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Collaborators : |
Not Available |
|
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Holding Company : |
Bharti Airtel Limited CIN No.: L74899DL1995PLC070609 |
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Fellow Subsidiaries
: |
· Bharti Telemedia Limited · Bharti Hexacom Limited · Nxtra Data Limited · Bharti Airtel Services Limited |
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|
Group Companies : |
· Ignite World Private Limited · Centum Learning Limited · Bharti Axa General Insurance Company Limited |
|
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|
Associate : |
Kotak Mahindra Bank Limited (w.e.f. April 26, 2016) |
CAPITAL STRUCTURE
After 20.07.2017
Authorised Capital : INR 19800.000 Million
Issued, Subscribed & Paid-up Capital : INR 10050.251
Million
As on 20.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000000 |
Equity Shares |
INR 10/- each |
INR 12500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
994382022 |
Equity Shares |
INR 10/- each |
INR 9943.820 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Capital |
|
9943.820 |
4943.820 |
|
Reserves & Surplus |
|
(5017.990) |
(2574.736) |
|
Deposits |
|
683.361 |
0.000 |
|
Other current liabilities and
provisions |
|
3201.491 |
1755.145 |
|
TOTAL |
|
8810.682 |
4124.229 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and balance with Reserve
Bank of India |
|
191.810 |
0.000 |
|
Balance with Banks and Money at Call and Short Notice |
|
6150.281 |
3702.455 |
|
Investments |
|
1926.267 |
0.000 |
|
Advances |
|
0.000 |
0.000 |
|
Fixed Assets |
|
31.522 |
62.208 |
|
Other Assets |
|
511.802 |
359.566 |
|
TOTAL |
|
8811.682 |
4124.229 |
|
SOURCES
OF FUNDS |
|
|
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
2900.000 |
|
(b) Reserves & Surplus |
|
|
(2228.806) |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
671.194 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
377.059 |
|
(d) long-term provisions |
|
|
0.684 |
|
(e) Deposits |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
377.743 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
369.584 |
|
(c) Other current liabilities |
|
|
639.507 |
|
(d) Short-term provisions |
|
|
0.552 |
|
Total
Current Liabilities (4) |
|
|
1009.643 |
|
|
|
|
|
|
TOTAL |
|
|
2058.580 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
0.025 |
|
(ii) Intangible Assets |
|
|
103.115 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
103.140 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
1112.416 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
59.670 |
|
(d) Cash and cash equivalents |
|
|
548.152 |
|
(e) Short-term loans and
advances |
|
|
229.924 |
|
(f) Other current assets |
|
|
5.278 |
|
Total
Current Assets |
|
|
1955.440 |
|
|
|
|
|
|
TOTAL |
|
|
2058.580 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Interest Earned |
|
263.893 |
144.722 |
|
|
Other Income |
|
686.197 |
766.253 |
|
|
TOTAL
|
|
950.090 |
910.975 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Interest Expended |
|
6.506 |
0.000 |
|
|
Operating Expenses |
|
3382.766 |
1268.812 |
|
|
Provisions and Contingencies |
|
4.072 |
-11.907 |
|
|
TOTAL |
|
3393.344 |
1256.905 |
|
|
|
|
|
|
|
|
NET
PROFIT/ (LOSS) FOR THE YEAR |
|
(2443.254) |
(345.930) |
|
|
|
|
|
|
|
Add |
NET
PROFIT/ (LOSS) BROUGHT FORWARD |
|
(2574.736) |
(2228.806) |
|
|
|
|
|
|
|
|
Balance
Carried Over to the Balance Sheet |
|
(5017.990) |
(2574.736) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
(4.33) |
(1.02) |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue from operation |
|
|
394.352 |
|
|
Other Income |
|
|
819.283 |
|
|
TOTAL
|
|
|
1213.635 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
|
|
84.631 |
|
|
Other Expenses |
|
|
1048.279 |
|
|
TOTAL |
|
|
1132.910 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
80.725 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.184 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
80.541 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
|
35.895 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
44.646 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
44.646 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
(2273.452) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
|
|
(2228.806) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
|
0.16 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(2358.087) |
1316.181 |
|
|
Net cash flows from (used in) operations |
NA |
NA |
(216.948) |
|
Net cash flows from (used in) operating activities |
(2341.502) |
1274.186 |
(278.946) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
0.00 |
0.00 |
55.23 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.00 |
0.00 |
6.61 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(77.30) |
(5.56) |
0.78 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.36 |
0.43 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.65 |
0.74 |
1.50 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.01 |
0.03 |
0.15 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
NA |
NA |
438.72 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(925.85) |
(239.03) |
11.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(27.73) |
(8.39) |
2.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(49.60) |
(14.60) |
6.65 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.74 |
2.31 |
1.94 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.74 |
2.31 |
1.94 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.56 |
0.57 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.74 |
2.31 |
1.94 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are in
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2900.000 |
4943.820 |
9943.820 |
|
Reserves & Surplus |
(2228.806) |
(2574.736) |
(5017.990) |
|
Net
worth |
671.194 |
2369.084 |
4925.830 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Interest Earned |
394.352 |
144.722 |
263.893 |
|
|
|
(63.301) |
82.345 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Interest Earned |
394.352 |
144.722 |
263.893 |
|
Profit/ (Loss) |
44.646 |
(345.930) |
(2443.254) |
|
|
11.32% |
(239.03%) |
(925.85%) |
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 |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
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 |
BACKGROUND
The company was incorporated under Companies Act, 1956. The company had been in business of providing Semi-Closed Prepaid Payment Instrument and domestic remittance services.
The company applied for the Payments Bank License to Reserve Bank of India and obtained the banking license on April11, 2016. It was the first company to receive the Payments bank license and commenced its operation on November 23'd. 2016. As per the Reserve Bank of India (RBI) guidelines, Payments Bank cannot directly undertake lending activities but they can distribute non risk sharing financial products such as insurance, mutual fund, loans etc.
The Bank currently provides Savings Account, Semi-Closed Prepaid Payment Instrument and Domestic Remittance service to the customers.
BUSINESS REVIEW
On April 11, 2016, Reserve Bank of India granted payments bank license to the Company and thereafter, the name of the Company was changed from Airtel M Commerce Services Limited to Airtel Payments Bank Limited w.e.f. May 2, 2016. Airtel Payments Bank Limited is the first of its kind of entities in the country to receive license to carry on the business of payments bank and it commenced its operation from November 23, 2016
Reserve Bank of India had given approval to selective entities categorized as "Payments Bank" primarily to support the Government's initiative of financial inclusion. Its objectives include providing of innovative digital solutions to customers to fulfil their banking requirements by keeping the process simple, fast and reliable
Payments banks, in accordance with RBI guidelines is using secured technology driven environment to penetrate deep into the rural areas which are primarily unbanked I under banked and is targeting people in the low income group such as farmers, migrant labour workforce, small business and other unorganized sector entities.
During the financial year 2016-17, the Bank launched its operations and aims at providing an enhanced customers' experience in a secure platform to make digital payments. The Bank expanded its merchant network to more than 2 Million pan India, giving a big boost to digital payments ecosystem
The Bank currently provides Savings Account, Semi-Closed Prepaid Payment Instrument and Domestic Remittance service to the customers
Savings Account - The Bank acquired 3.610 Million savings account customer until the year end. Customers can open an account using e-KYC through Aadhar card. Customers were offered free talk time, free personal accident insurance cover and attractive interest rate. Savings account customers can withdraw and deposit cash, funds can be transferred in and out from I to other bank accounts, merchant payments and usage of debit card for online payments etc.
Domestic Remittance Services - During the current financial year, domestic remittance service throughout increased to INR 39718.000 Million in comparison to INR 5344.000 Million in FY 2015-16. Semi Closed Prepaid Payment Instrument - The bank is offering limited KYC and full KYC wallet to the customers.
During the current financial year, the through put has increased to INR 14174.000 Million compared to: INR 14098.000 Million in FY 2015-16.
Change in nature of
business
The Company has obtained payment bank license w.e.f.
April11, 2016. Airtel Payments Bank Limited is the first of its kind of
entities in the country to receive license to carry on the business of payments
bank and it commenced its operation from November
23, 2016.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Satisfaction |
Amount |
Address |
|
1 |
G45924065 |
10290467 |
KOTAK MAHINDRA BANK LIMITED |
20/04/2011 |
19/05/2017 |
376968.09 |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI MAHARASHTRA 400021 INDIA |
FIXED ASSETS
- Computers
- Office Equipment
- Furniture and Fixtures
- Leasehold Improvements
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 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 64.94 |
|
UK Pound |
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·