|
|
|
MIRA INFORM REPORT
|
Report No. : |
493502 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BHARTI AIRTEL SERVICES LIMITED (w.e.f. 22.05.2011) |
|
|
|
|
Formerly Known
As : |
BHARTI COMTEL LIMITED |
|
|
|
|
Registered
Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase – II, New
Delhi-110070 |
|
Tel. No.: |
91-11-42666500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
05.12.1997 |
|
|
|
|
Com. Reg. No.: |
55-091001 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64201DL1997PLC091001 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTIN : [Goods & Service Tax
Registration No.] |
07AAACB8917G1ZP |
|
|
|
|
TIN No: |
07050256379 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB8917G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in hardware for Internet and Satellite business, telecommunication equipments, handsets and rendering of manpower services. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Bharti Airtel Services Limited offers telecommunications services. The
company was formerly known as Bharti Comtel Limited. Bharti Airtel Services
Limited was incorporated in 1997 and is based in New Delhi, India. The
company operates as a subsidiary of Bharti Airtel Limited. As per Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. Rating takes into consideration strong managerial and financial
support received to the company from its strong holding entity i.e., Bharti
Airtel Limited” which is the third – largest telecom service provider in the
world by number of subscribers. Rating strength is partially offset by erosion of its net worth during
FY 2016 and increased competition in the telecom sector with the entry of new
operator i.e. “Reliance Jio”. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
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
31-03-2016.
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 23.02.2018
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
|
Name : |
Not Divulged |
|
Designation : |
Office Executive |
|
Contact No.: |
91-11-42666500 |
|
Date : |
21.02.2018 |
LOCATIONS
|
Registered Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase – II, New Delhi-110070,
India |
|
Tel. No.: |
91-11-46666100 |
|
Fax No.: |
91-11-41666137 |
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E-Mail : |
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|
Website : |
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|
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Corporate Office : |
Interface Building No 7, 6th and 7th Floor, Interface No.7, Off New Link Road, Near Goregaon Sports Club, Malad (West), Mumbai-400064, Maharashtra, India |
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Branch Address: |
Located At:
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ajai Puri |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
BP1-105 A, Beverly Park-I Appartments, DLF City, Phase- II, MG Road, Gurugram – 122002, Haryana, India |
||||||||||||||||||||
|
Date of Appointment : |
21.03.2016 |
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DIN No: |
06527868 |
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Other Directorship:
|
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|
||||||||||||||||||||
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Name : |
Mr. Pankaj Tewari |
||||||||||||||||||||
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Designation : |
Additional Director |
||||||||||||||||||||
|
Address : |
H.No. P2A 106, Princeton Estate, Near Golf Course DLF Phase-5, Sikanderpur, Ghosi (68), DLF QE, Gurugram – 122002, Haryana, India |
||||||||||||||||||||
|
Date of Appointment : |
30.11.2017 |
||||||||||||||||||||
|
DIN No: |
08006533 |
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Other Directorship:
|
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|
|
||||||||||||||||||||
|
Name : |
Mr. Badal Bagri |
||||||||||||||||||||
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Designation : |
Additional Director |
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|
Address : |
MA - 1/2- Flat No, 4D Garden Estate, Phase III, Qutab Enclave, Gurugram – 122002, Haryana, India |
||||||||||||||||||||
|
Date of Appointment : |
11.09.2017 |
||||||||||||||||||||
|
DIN No: |
00367278 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Chandrasekharan and Associates |
|
Designation : |
Company Secretary |
|
Address : |
11-F, Pocket IV, Mayur Vihar Phase – I, New Delhi – 110091, India |
|
Tel. No: |
91-11-22710514/ 22713708 |
|
Email: |
|
|
PAN No: |
AADFC9226D |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Name
of Shareholders |
No.
of Shares |
|
Bharti Airtel Limited, India |
99994 |
|
Rohit Krishan Puri |
1 |
|
Devendra Khanna |
1 |
|
Suman Singh |
1 |
|
Puneet Tandon |
1 |
|
Mukesh Bhavnani |
1 |
|
Shweat Girotra |
1 |
|
TOTAL |
100000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Trading in hardware for Internet and Satellite business, telecommunication equipments, handsets and rendering of manpower 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 Divulged |
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||||||
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Imports : |
Not Divulged |
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|
|
||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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|
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Bankers : |
|
|
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 : |
AALFS0506L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Bharti Airtel Limited (L74899DL1995PLC070609) |
|
|
|
|
Associates |
Seynse Technologies Private Limited (U74999GA2015PTC007655) |
|
|
|
|
Fellow Subsidiary
company |
|
|
|
|
|
Joint venture |
Forum I Aviation Private Limited (U62200DL2004PTC131655) |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives |
|
CAPITAL STRUCTURE
As on: 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.000 |
1.000 |
1.000 |
|
(b) Reserves and Surplus |
(1009.000) |
(944.000) |
(856.000) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(1008.000) |
(943.000) |
(855.000) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
215.000 |
0.000 |
634.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
1198.000 |
1016.000 |
970.000 |
|
(d) long-term
provisions |
173.000 |
181.000 |
204.000 |
|
Total Non-current
Liabilities (3) |
1586.000 |
1197.000 |
1808.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1696.000 |
1578.000 |
1379.000 |
|
(c) Other
current liabilities |
1038.000 |
984.000 |
1050.000 |
|
(d) Short-term
provisions |
147.000 |
178.000 |
177.000 |
|
Total Current
Liabilities (4) |
2881.000 |
2740.000 |
2606.000 |
|
|
|
|
|
|
TOTAL |
3459.000 |
2994.000 |
3559.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
189.000 |
80.000 |
457.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
97.000 |
59.000 |
24.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
48.000 |
48.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
8.000 |
35.000 |
61.000 |
|
(e) Other Non-current
assets |
1.000 |
1.000 |
1.000 |
|
Total Non-Current
Assets |
295.000 |
223.000 |
591.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
323.000 |
413.000 |
|
(b)
Inventories |
243.000 |
178.000 |
567.000 |
|
(c) Trade
receivables |
1173.000 |
737.000 |
325.000 |
|
(d) Cash and
bank balances |
87.000 |
83.000 |
96.000 |
|
(e)
Short-term loans and advances |
1065.000 |
921.000 |
674.000 |
|
(f) Other
current assets |
596.000 |
529.000 |
893.000 |
|
Total Current
Assets |
3164.000 |
2771.000 |
2968.000 |
|
|
|
|
|
|
TOTAL |
3459.000 |
2994.000 |
3559.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
5666.000 |
5217.000 |
5553.000 |
|
|
Other Income |
121.000 |
441.000 |
51.000 |
|
|
TOTAL |
5787.000 |
5658.000 |
5604.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1980.000 |
1717.000 |
956.000 |
|
|
Employee benefit expense |
2674.000 |
2571.000 |
2915.000 |
|
|
Other expenses |
1120.000 |
1417.000 |
1729.000 |
|
|
TOTAL |
5774.000 |
5705.000 |
5600.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
13.000 |
(47.000) |
4.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.000 |
1.000 |
1.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.000 |
(48.000) |
3.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
74.000 |
44.000 |
168.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(62.000) |
(92.000) |
(165.000) |
|
|
|
|
|
|
|
Less |
TAX |
3.000 |
(4.000) |
4.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(65.000) |
(88.000) |
(169.000) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
431.000 |
518.000 |
809.000 |
|
|
|
|
|
|
|
|
CIF value of Imports |
161.000 |
131.000 |
175.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(650.000) |
(880.000) |
(169.00) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
72.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(208.000) |
643.000 |
(141.000) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(326.000) |
457.000 |
(157.000) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
75.56 |
51.56 |
21.36 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
4.83 |
7.08 |
17.09 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.05 |
(0.26) |
0.01 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.05 |
(0.34) |
0.01 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.92 |
0.92 |
0.91 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
(0.28) |
0.00 |
(0.74) |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
(2.86) |
(2.91) |
(3.05) |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
(0.28) |
(0.15) |
(0.56) |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
13.00 |
(47.00) |
4.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
(1.15) |
(1.69) |
(3.04) |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
(1.88) |
(2.94) |
(4.75) |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
6.45 |
9.33 |
19.77 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.10 |
1.01 |
1.14 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.01 |
0.95 |
0.92 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
(0.29) |
(0.31) |
(0.24) |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
287.00 |
0.00 |
634.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.10 |
1.01 |
1.14 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
(856.000) |
(944.000) |
(1009.000) |
|
Net
worth |
(855.000) |
(943.000) |
(1008.000) |
|
|
|
|
|
|
Long-term borrowings |
634.000 |
0.000 |
215.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
72.000 |
|
Total
borrowings |
634.000 |
0.000 |
287.000 |
|
Debt/Equity
ratio |
(0.742) |
0.000 |
(0.285) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5553.000 |
5217.000 |
5666.000 |
|
|
|
(6.051) |
8.606 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5553.000 |
5217.000 |
5666.000 |
|
Profit/ (Loss) |
(169.000) |
(88.000) |
(65.000) |
|
|
(3.04
%) |
(1.69
%) |
(1.15
%) |
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 |
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 |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
NOTE: Registered office of the company has been
shifted from “Aravali Crescent, 1, Nelson Mandela Road, Vasant Kunj,
Phase – Ii, New Delhi – 110070, India” to the present
address w.e.f. 09.02.2010.
THE FINANCIAL
HIGHLIGHTS OF THE COMPANYS OPERATIONS
During the year, the Company achieved a growth of 2.28% in income over the previous year. The revenue from operations and EBITDA for the year ended March 31, 2016 was INR 5666.000 Million and INR 13.000 Million respectively as compared to revenue and EBITDA of INR 5217.000 Million and INR (47.000) Million respectively of last year (i.e. for the year ended March 31, 2015).
Net loss after tax of the Company has decreased from INR (88.000) Million to INR (65.000) Million during the year.
CORPORATE INFORMATION
The Company incorporated in India on December 5, 1997 is a Company promoted by Bharti Airtel Limited (Bharti), a Company incorporated under laws of India. The object of the Company is to sell hardware for Internet and Satellite business, telecommunication equipments, handsets and rendering of manpower services.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
215.000 |
0.000 |
|
Total |
215.000 |
0.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B09031329 |
90037979 |
IDBI Bank Limited |
25/03/2003 |
20/09/2005 |
14/03/2011 |
200000000.0 |
11 FLOOR, SURYA KIRAN BUILDING 19 ; KASTURBA GANDHI MARG, NEW DELHI-110001, India |
|
2 |
Y10117791 |
90037696 |
Lord Krishna Bank Limited |
07/12/2002 |
- |
19/02/2005 |
100000000.0 |
K – 2, CHAUDHARY BUILDING, CONNAUGHT PLACE, NEW DELHI-110001, India |
|
3 |
Y10116903 |
90036808 |
IDBI Bank Limited |
08/10/2001 |
- |
08/09/2003 |
102000000.0 |
11 FLOOR, SURYA KIRAN BUILDING 19 ; KASTURBA GANDHI MARG, NEW DELHI-110001, India |
Tangible Asset:
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Plant and Equipment
- Office Equipment
- Electrical Installation and Fittings
- Computer
- Vehicles
Intangible Asset:
- Computer Software
PRESS RELEASE:
AIRTEL OPPOSES CCI CHALLENGE TO BOMBAY HC ORDER SETTING ASIDE PROBE
AGAINST TELCOS
Airtel, in its reply to a challenge by CCI to setting aside a probe,
says a dispute between two telecom service providers would fall within the
exclusive jurisdiction of the two telecom bodies—Trai and TDSAT
Wed, Feb 21 2018: New Delhi: Bharti Airtel Limited opposed a challenge by the Competition Commission of India (CCI) to setting aside of a probe against telcos on allegations of cartelisation and termed it as being “misconceived and frivolous”.
The telecom major, in its reply said that a dispute between two telecom service providers would fall within the exclusive jurisdiction of the two telecom bodies—Telecom Regulatory Authority of India (Trai) and Telecom Disputes Settlement Appellate Tribunal (TDSAT), not the CCI.
It further claimed that Reliance Jio had made unreasonable demands from other telecom companies regarding points of interconnection (PoI) and wrongly utilized the test phase by offering free services by which it was able to obtain a large number of customers even before its commercial launch, an issue that should be dealt with by the expert sectoral regulator, Trai and its appellate body.
Airtel was responding to a challenge by CCI to setting aside a probe on allegations of cartelisation. The Supreme Court has not granted an interim stay on the probe order and is hearing the case on merits.
CCI had moved the apex court on 24 January in appeal against an order of the Bombay HC setting aside a probe against the three telecom companies on complaints of cartelisation by Reliance Jio Infocomm Limited
On 21 September, the Bombay HC had ruled that the CCI had no jurisdiction to interpret contract conditions or policies of the telecom sector, which was governed by the Telecom Regulatory Authority of India (Trai) Act, 1997.
The order was passed on a plea by Idea, Bharti Airtel, Vodafone India and the Cellular Operators Association of India (COAI) seeking quashing of the CCI order directing an investigation into allegations of cartelisation made by Reliance Jio.
Reliance Jio had questioned the jurisdiction of the Bombay HC and said the case must be heard by the Delhi HC since the CCI order was passed in Delhi. This was rejected by the court.
SINGTEL TO INVEST INR 26490.000 MILLION IN BHARTI TELECOM
Singapore firm’s stake in Bharti Telecom rises to 48.9%
NEW DELHI, FEBRUARY 5: Singapore Telecommunications Limited (Singtel) will invest INR 26490.000 million in Bharti Telecom Limited
Bharti Airtel said in a statement, with this investment Singtel’s total stake (along with its affiliates) in Bharti Telecom will increase to 48.90 per cent. Singtel currently holds 47.17 per cent stake in Bharti Telecom. Bharti Enterprises continues to hold over 50 per cent stake in Bharti Telecom.
The investment comes within 23 months of Singtel’s participation in Bharti Telecom’s rights issue of INR 25000.000 million, which was completed in February 2016.
Singtel is Asia’s leading communications and ICT solutions group and a long-term partner of Airtel, and Bharti Telecom is the promoter company of Airtel through preferential allotment of shares.
“The transaction is subject to the shareholders’ approval of Bharti Telecom. The funds raised will be used towards debt reduction,” Airtel said in a statement.
“Airtel shares a nearly two decade-long relationship with Singtel, which has only become stronger over the years. The fresh round of investment highlights the confidence of Singtel in Airtel, and the increased attractiveness of the Indian telecom sector following the recent consolidation,” said Deven Khanna, Managing Director, Bharti Telecom.
The fresh round of investment highlights the confidence of Singtel in Airtel, and the increased attractiveness of the Indian telecom sector following the recent consolidation, the company said.
Singtel has invested in the Indian telecom sector through Bharti Airtel since 2000.
Shares of Airtel closed at INR 439.50 on the BSE on Monday, up 4.20 per cent from Friday’s close.
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 65.05 |
|
UK Pound |
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.