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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

494634

Report Date :

28.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

AXIS BANK LIMITED (w.e.f.30.07.2007)

 

 

Formerly Known As :

UTI BANK LIMITED

 

 

Registered Office :

Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad – 380006, Gujarat

Tel. No.:

91-79-26409322

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

03.12.1993

 

 

Com. Reg. No.:

04-020769

 

 

Capital Investment / Paid-up Capital :

INR 4790.072 Million

 

 

CIN No.:

[Company Identification No.]

L65110GJ1993PLC020769

 

 

IEC No.:

0801007704

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

TIN No.:

24073404294

 

 

PAN No.:

[Permanent Account No.]

AAACU2414K

 

 

GST No.:

24AAACU2414K1ZL

 

 

Legal Form :

A Public Limited Liability Bank. The Bank’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Business of the Bank is divided into four segments: Treasury, Retail Banking, Corporate/Wholesale Banking, and Other Banking Business.

 

Treasury:

Treasury operation includes investment in sovereign and corporate debt, equity and mutual funds, trading operations, derivation trading and foreign exchange operations on the proprietary account and for customers. The treasury segment also includes the central funding unit.

 

Retail Banking:

Constitutes Lending to individual/ small business through the branch network and other delivery channels subject to the orientation, nature of product, granularity of the exposure and the quantum thereof. Retail Banking activities also include liability produ8cts, card services, internet banking, mobile banking ATM Services, Depository, financial advisory services and NRI Services.

 

Corporate/ Wholesale Banking:

Include corporate relationships not included under retail banking, corporate advisory services, placements and syndication, project appraisals, capital market related services and cash management services.

 

Other Banking Business:

Include para banking activities like third party product distribution and other banking transaction not covered under any of the above there segments.

 

[Registered Activity]

 

 

No. of Employees :

56617 [Approximately]

 

 

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++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Axis Bank is well-known third - largest private sector Bank. As on March 31, 2017, the bank had a network of 3304 branches including extension counters, and 14163 automated teller machines (ATMs) across the country. It is an established Bank having excellent track record.

 

For the financials year ended March 2017, the bank has witnessed a growth in its income and has achieved profit margin at 8.26% (approx.)

 

Financial position of the Bank is strong. Fundaments are healthy.

The ratings reflect Axis Bank’s strong capitalization, healthy resource profile and comfortable earnings.

 

Promoters are reported to be well experienced and knowledgeable businessman.

 

Further, the Bank’s Balance Sheet grew 11% YOY and stood at INR 643938 crores as on 31st December 2017. The Bank’s Advances grew 21% YOY to INR 420923 crores as on 31st December 2017.

 

Profit during the quarter grew by 25.3% year-on-year to INR 726.4 crore

Trade relations are reported as trustworthy. Business is active. Payments are reported to be regular and as per commitments.

 

The Bank can be considered excellent 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

CRISIL

Rating

INR 50000.000 million Tier II Bonds (AAA)

Rating Explanation

Highest degree of safety and carry lowest credit risk.

Date

13.06.2017

 

Rating Agency Name

CRISIL

Rating

INR 50000.000 million Certificate of Deposits (A1)

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

13.06.2017

 

 

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 28.02.2018

 

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.

 

 

LOCATIONS

 

Registered Office :

Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad – 380006, Gujarat, India

Tel. No.:

91-79-66306161

Fax No.:

91-79-26409321

E-Mail :

shareholders@axisbank.com

girish.koliyote@axisbank.com 

Website :

www.axisbank.com

 

 

Corporate Office :

‘Axis House’, C-2, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400 025, Maharashtra, India

Tel. No.:

91-22-24252525

Fax No.:

91-22-24251800

 

 

Branch Offices :

Bank has 2904 Domestic Branches and 12743 ATMs Across the Country as on 31.03.2017.

 

 

DIRECTORS

 

AS ON: 31.03.2017

 

Name :

Mr. Prasad Raghava Menon

Designation :

Director

Address :

50-F, Lovedale Pedder Road, Mumbai -400026, Maharashtra, India

Date of Appointment :

09.10.2010

DIN No.:

00005078

 

 

Name :

Mr. Srinivasan Varadarajan

Designation :

Wholetime Director

Address :

1301-B, Chaitanya Towers, Appa Saheb Marathe Marg, Prabhadevi, Mumbai-400025, Maharashtra, India

Date of Appointment :

15.10.2012

DIN No.:

00033882

 

 

Name :

Mrs. Shikha Sanjaya Sharma

Designation :

Managing Director

Address :

Flat No. 4402, South Tower The Emperial, B. B. Nakashe Marg, Tardeo, Mumbai-400034, Maharashtra, India

Date of Appointment :

01.06.2009

DIN No.:

00043265

 

 

Name :

Mr. Som Mittal

Designation :

Director

Address :

D-330, Sector-47, Noida, Gautam Budh Nagar, Noida-201303, Uttar Pradesh, India

Date of Appointment :

22.10.2011

DIN No.:

00074842

 

 

Name :

Mr. Rakesh Radhakishen Makhija

Designation :

Director

Address :

A-702, Empress Tower, Sopan Bagh, Ghorpadi, Pune-411001, Maharashtra, India

Date of Appointment :

27.10.2015

DIN No.:

00117692

 

 

Name :

Mr. Samirkumar Barua

Designation :

Director

Address :

B-203, Samay Apartment, B/H Azad SocietyTelephone Exchange, Near Bima Nagar, Near.II M, Amba wadi, Ahmedabad-380015, Gujarat, India

Date of Appointment :

22.07.2011

DIN No.:

00211077

 

 

Name :

Mr. Babu Rao Busi

Designation :

Director

Address :

16/63, Mhb Colony, Reclamation Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Appointment :

19.01.2016

DIN No.:

00425793

 

 

Name :

Mr. Srinivasan Vishvanathan

Designation :

Director

Address :

560, Mandakini Enclave, Alaknanda, New Delhi – 110019, India

Date of Appointment :

11.02.2015

DIN No.:

02255828

 

 

Name :

Mr. Rajiv Anand

Designation :

Wholetime Director

Address :

D-1204/5/6, 12th Floor, Ashok Tower, 63-64 Dr. S.S. Rao Marg, Parel, Mumbai – 400012, Maharashtra, India

Date of Appointment :

12.05.2016

DIN No.:

02541753

 

 

Name :

Mrs. Usha Sangwan

Designation :

Director

Address :

A-5, Jeevan Jyot Napeansea Road, Mumbai-400036, Maharashtra, India

Date of Appointment :

17.10.2013

DIN No.:

02609263

 

 

Name :

Mr. Rohit Bhagat

Designation :

Director

Address :

67/F, High Cliff, 41-D, Stubbs Road, Hongkong 00 Hongkong

Date of Appointment :

16.01.2013

DIN No.:

02968574

 

 

Name :

Mr. Sanjiv Misra

Designation :

Director

Address :

Flat No. 1541, ATS Village, Sector 93-A, Noida – 201304, Uttar Pradesh, India

Date of Appointment :

08.03.2013

DIN No.:

03075797

 

 

Name :

Mrs. Ketaki Sanat Bhagwati

Designation :

Director

Address :

51, Floor - 5, Plot - 1289, Palm Spring, Eknath Buwa, Hatiskar Marg, Bengal Chemical, Prabhadevi, Mumbai-400025, Maharashtra, India

Date of Appointment :

19.01.2016

DIN No.:

07367868

 

 

Name :

Mr. Rajesh Kumar Dahiya

Designation :

Wholetime Director

Address :

5-B, 5th Floor, Vaibhav Apartment 80, Next To Amarsons Garden, B. Desai Road, Warden Road, Mumbai-400026, Maharashtra, India

Date of Appointment :

12.05.2016

DIN No.:

07508488

Name :

Stephen Gerard Pagliuca

Designation :

Nominee Director

Address :

29 Webster Road, Weston, Massachusetts 02493 US

Date of Appointment :

19.12.2017

DIN No.:

07995547

 

 

KEY EXECUTIVES

 

Name :

Mr. Jairam Ramamurthy Sridharan

Designation :

Chief Finance Officer

Address :

Flat No 1801, Ashok Tower-B, Dr. Babasaheb Ambedkar Marg, Parel Mumbai-400012, Maharashtra, India

Date of Appointment :

28.10.2015

PAN No.:

BETPS4707N

 

 

Name :

Mr. Girish Vasudevan Koliyote

Designation :

Company Secretary

Address :

A/3, Tarang Chs, 3rd Floor Mogul Lane, Mahim (West), Mumbai – 400016, Maharashtra, India

Date of Appointment :

01.05.2015

PAN No.:

ABZPK8118P

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 31.12.2017

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2)

(A) Promoter & Promoter Group

682765201

28.04

(B) Public

1752474011

71.96

(C) Non Promoter-Non Public

128885130

0.00

Grand Total

2564124342

100.00

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2)

A1) Indian

0.00

Financial Institutions/ Banks

682765201

28.04

ADMINISTRATOR OF THE SPECIFIED UNDERTAKING OFTHE UNIT TRUST OF INDIA - SUUTI

253270690

10.40

LIFE INSURANCE CORPORATION OF INDIA

352934326

14.49

GENERAL INSURANCE CORPORATION OF INDIA

38850000

1.60

THE NEW INDIA ASSURANCE COMPANY LIMITED

25403585

1.04

NATIONAL INSURANCE COMPANY LTD

2867797

0.12

THE ORIENTAL INSURANCE COMPANY LIMITED

6330020

0.26

UNITED INDIA INSURANCE COMPANY LIMITED

3108783

0.13

Sub Total A1

682765201

28.04

A=A1+A2

682765201

28.04

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a % of (A+B+C2)

B1) Institutions

0.00

Mutual Funds/

233315434

9.58

ICICI PRUDENTIAL EQUITY INCOME FUND

51414993

2.11

HDFC TRUSTEE COMPANY LIMITED-HDFC EQUITY FUND

48189388

1.98

FRANKLIN INDIA MONTHLY INCOME PLAN

37443460

1.54

Alternate Investment Funds

21500

0.00

Foreign Portfolio Investors

1170371372

48.06

EUROPACIFIC GROWTH FUND

64266857

2.64

LAZARD EMERGING MARKETS EQUITY PORTFOLIO

26982778

1.11

ABU DHABI INVESTMENT AUTHORITY - BEHAVE

30540162

1.25

GOVERNMENT OF SINGAPORE - E

28438123

1.17

OAKMARK INTERNATIONAL FUND

76419179

3.14

VANGUARD EMERGING MARKETS STOCK INDEX FUND, ASERIES OF VANGUARD INTERNATIONAL EQUITY INDE X FUND

28420111

1.17

DODGE AND COX INTERNATIONAL STOCK FUND

35788600

1.47

Financial Institutions/ Banks

2992825

0.12

Insurance Companies

25081397

1.03

Any Other (specify)

87500000

3.59

INTEGRAL INVESTMENTS SOUTH ASIA IV - FDI

31900000

1.31

BC ASIA INVESTMENTS VII LIMITED - FDI

55600000

2.28

Sub Total B1

1519282528

62.39

B2) Central Government/ State Government(s)/ President of India

0.00

B3) Non-Institutions

0.00

Individual share capital up to INR 0.200 Million

98190323

4.03

Individual share capital in excess of INR 0.200 Million

40787388

1.67

NBFCs registered with RBI

1949125

0.08

Any Other (specify)

92264647

3.79

Clearing Members

4990763

0.20

Foreign Individuals

500

0.00

FOREIGN BODIES-DR

667544

0.03

Bodies Corporate

66406787

2.73

ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED

30360968

1.25

NRI

4518692

0.19

Trusts

15144915

0.62

I E P F

535446

0.02

Sub Total B3

233191483

9.58

B=B1+B2+B3

1752474011

71.96

 

 

BUSINESS DETAILS

 

Line of Business :

Business of the Bank is divided into four segments: Treasury, Retail Banking, Corporate/Wholesale Banking, and Other Banking Business.

 

Treasury:

Treasury operation includes investment in sovereign and corporate debt, equity and mutual funds, trading operations, derivation trading and foreign exchange operations on the proprietary account and for customers. The treasury segment also includes the central funding unit.

 

Retail Banking:

Constitutes Lending to individual/ small business through the branch network and other delivery channels subject to the orientation, nature of product, granularity of the exposure and the quantum thereof. Retail Banking activities also include liability produ8cts, card services, internet banking, mobile banking ATM Services, Depository, financial advisory services and NRI Services.

 

Corporate/ Wholesale Banking:

Include corporate relationships not included under retail banking, corporate advisory services, placements and syndication, project appraisals, capital market related services and cash management services.

 

Other Banking Business:

Include para banking activities like third party product distribution and other banking transaction not covered under any of the above there segments.

 

[Registered Activity]

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Not Available

 

 

Purchasing :

Not Available

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Available

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

Customers :

 

Reference:

Not Available

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

56617 [Approximately]

 

 

Bankers :

Reserve Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

LONG-TERM BORROWINGS

 

 

Reserve Bank of India

0.000

93540.000

Other banks#

22265.000

14078.000

Other institutions & agencies**

488557.527

365006.111

Borrowings outside India$

539486.167

613179.678

 

 

 

Total

 

1050308.694

1085803.789

 

# Borrowings from other banks include Subordinated Debt of INR 350.000 million (previous year INR 901.000 million) in the nature of Non-Convertible Debentures, Perpetual Debt of Nil (previous year INR 250.000 million) and Upper Tier II instruments of Nil (previous year INR 491.000 million)

 

** Borrowings from other institutions & agencies include Subordinated Debt of INR 16,1700.000 crores (previous year INR 12,2407.000 million) in the nature of Non-Convertible Debentures, Perpetual Debt of INR 3,5000.000 million (previous year INR 1890.000 million) and Upper Tier II instruments of Nil (previous year INR 2584.000 million)

 

$ Borrowings outside India include Perpetual Debt of Nil (previous year INR 3047.700 million) and Upper Tier II instruments of INR 3890.600 million (previous year INR 13911.200 million)

 

 

 

Auditors :

 

Name :

S. R. Batliboi and Company LLP

Chartered Accountants

Address :

14th Floor, The Ruby 29, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, India

Tel. No.:

91-22-61920000

Fax No.:

91-22-61921000

 

 

Secretarial Auditors :

 

Name :

BNP and Associates

Company Secretaries

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Promoters:

The Bank has identified the following entities as its Promoters

 

·         Administrator of the Specific Undertaking of the Unit Trust of India [SUUTI]

·         Life Insurance Corporation of India [LIC]

·         General Insurance Corporation and Four Government Owned General Insurance Companies –New India Assurance Co. Limited, National Insurance Co. Limited, united India Issuance Co. Limited and The Oriental Insurance Co. Limited

 

 

Subsidiary Companies :

·         Axis Trustee Services Limited

·         Axis Finance Limited

·         Axis Capital Limited

·         Axis Private Equity Limited

·         Axis Bank UK Limited

·         Axis Asset Management Company Limited

·         Axis Mutual Fund Trustee Limited

·         Axis Securities Limited

·         A. Trends Limited with effect from 23 may, 2016

·         Axis Securities Europe Limited [Under Voluntary Winding up as on 31 March, 2017]

 

 

CAPITAL STRUCTURE

 

AFTER: 26.07.2017

 

Authorised Capital: INR 8500.000 Million

 

Issued, Subscribed & Paid-up Capital: INR 5128.931 Million

 

 

AS ON: 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4250000000

Equity Shares

INR 2/- each

INR 8500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2395036109

Equity Shares

INR 2/- each

INR 4790.072 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

CAPITAL AND LIABILITIES

 

 

 

Capital

4790.072

4765.664

4741.044

Reserves and Surplus

552835.346

526883.409

442024.106

Deposits

4143787.878

3579675.603

3224419.369

Borrowings

1050308.694

1085803.789

797582.689

Other Liabilities and Provisions

262954.713

201081.731

150556.734

 

 

 

 

TOTAL

6014676.703

5398210.196

4619323.942

 

 

 

 

ASSETS

 

 

 

Cash and Balances with Reserve Bank of India

308579.390

223611.495

198188.397

Balances with Banks and Money at Call and Short Notice

193982.441

109642.909

162801.921

Investments

1287933.704

1315240.609

1175502.121

Advances

3730693.495

3387737.229

2810830.297

Fixed Assets

37468.925

35231.719

25143.105

Other Assets

456018.748

326746.235

246858.101

 

 

 

 

TOTAL

6014676.703

5398210.196

4619323.942

 

 

 

 

Contingent Liabilities

6696258.442

6174463.565

5911749.072

Bills for Collection

810553.648

512794.653

490086.861

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Interest Earned

445421.579

409880.364

354785.977

 

Other Income

116913.107

93714.644

83650.458

 

TOTAL                                    

562334.686

503595.008

438436.435

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Interest Expended

264490.420

241550.675

212544.595

 

Operating Expenses

121999.053

101008.186

92037.456

 

Provisions and contingencies

139052.421

78799.519

60276.161

 

TOTAL                                    

525541.894

421358.380

364858.212

 

 

 

 

 

 

NET PROFIT FOR THE YEAR

36792.792

82236.628

73578.223

 

 

 

 

 

 

Balance in Profit and Loss Account Brought Forward from Previous year

237664.559

176234.914

135014.461

 

 

 

 

 

Add

Amount Available For Appropriation

274457.351

258471.542

208592.684

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to Statutory Reserve

9198.198

20559.157

18394.555

 

Transfer to/ (From) Investment Reserve

(871.671)

(418.074)

254.885

 

Transfer to Capital Reserve

7555.740

620.406

631.421

 

Transfer to/ (From) Reserve Fund

17.522

17.409

-12.664

 

Dividend Paid [Including tax on dividend]

14074.287

28.085

13089.573

 

Balance in Profit and Loss Account Carried Forward

244483.275

237664.559

176234.914

 

 

 

 

 

 

TOTAL

274457.351

258471.542

208592.684

 

 

 

 

 

 

Earnings/[Loss] Per Share (INR)

 

 

 

 

Basic

15.40

34.59

31.18

 

Diluted

15.34

34.40

30.85

 

 

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

NA

NA

NA

 

 

 

 

Net cash flow from operating activities

341922.837

(191833.798)

(167076.680)

 

 

STOCK PRICES

 

Face Value

INR 2.00/-

 

 

Market Value

INR 540.00/-

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

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

354785.977

409880.364

445421.579

 

 

15.529

8.671

 

 

 

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

354785.977

409880.364

445421.579

Profit

73578.223

82236.628

36792.792

 

20.74%

20.06%

8.26%

 

 

LEGAL CASES

 

HIGH COURT OF GUJARAT

 

SPECIAL CIVIL APPLICATION No. 5683 of 2017

 

Status : PENDING

( Converted from : C/ST/3675/2017 )

CCIN No : 001021201705683

 

 

Last Listing Date:

25/01/2018

Coram

·         HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

 

S.NO.

Name of the Petitioner

Advocate On Record

1

JEEVAN DIESELS AND ELECTRICALS LIMITED

MR SHAKTI S JADEJA for: Petitioner(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1
MR. MRUGESH A BAROT for: Petitioner(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

S.NO.

Name of the Respondant

Advocate On Record

1
2

AXIS BANK LIMITED
DEBTS RECOVERY TRIBUNAL - II

RULE SERVED BY DS for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1 - 2
DS AFF.NOT FILED (R) for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 2
MR ANIP A GANDHI for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

 

Presented On

: 07/03/2017

Registered On

: 16/03/2017

Bench Category

: SINGLE BENCH

District

: SILVASA

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 10 times

Stage Name

: FOR FINAL HEARING

 

Classification

·         SJ-NON-SERVICE-BANKING MATTERS-SECURITISATION AND RECONSTRCTION FINANCIAL ASSES AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002-UNDER SECTION 13 (2)

Act

·         CONSTITUTION OF INDIA

 

 

OFFICE DETAILS

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

07/03/2017

VAKALATNAMA

MR. MRUGESH A BAROT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR. MRUGESH A BAROT(6709) for P:1

2

07/03/2017

VAKALATNAMA

MR SHAKTI S JADEJA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR SHAKTI S JADEJA(5491) for P:1

3

07/03/2017

MEMO OF PETITION/APPEAL/SUIT

MR SHAKTI S JADEJA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

50

MR SHAKTI S JADEJA(5491), MR. MRUGESH A BAROT(6709), for P:1

4

10/04/2017

VAKALATNAMA

MR ANIP A GANDHI ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR ANIP A GANDHI(2268) for R:1

5

08/06/2017

AFFIDAVIT OF DS

MR SHAKTI S JADEJA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR SHAKTI S JADEJA(5491),MR. MRUGESH A BAROT(6709) for P:1

6

15/06/2017

AFFIDAVIT IN REPLY

MR ANIP A GANDHI ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR ANIP A GANDHI(2268) for R:1

 

COURT PROCEEDINGS

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

21/03/2017

21

14

FOR REGULAR ADMISSION

NEXT DATE

·         HONOURABLE MR.JUSTICE S.G. SHAH

2

14/06/2017

18

81

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA 

·         HONOURABLE MR.JUSTICE S.G. SHAH

3

28/06/2017

18

115

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

4

02/08/2017

19

107

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

5

12/09/2017

19

82

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

6

08/11/2017

19

-

FOR FINAL HEARING

·         HONOURABLE MR.JUSTICE RAJESH H.SHUKLA 

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

7

09/11/2017

11

34

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

8

23/11/2017

11

39

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

9

07/12/2017

11

46

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

10

11/01/2018

11

41

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

11

25/01/2018

11

60

FOR FINAL HEARING

·         HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

 

AVAILABLE ORDERS

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

Download

1

SPECIAL CIVIL APPLICATION/5683/2017

·         HONOURABLE MR.JUSTICE S.G. SHAH

21/03/2017

N

ORDER

-

Y

Downloa

 

 

HIGH COURT OF GUJARAT

 

SPECIAL CIVIL APPLICATION No. 13926 of 2016

 

Status : PENDING

( Converted from : C/ST/12749/2016 )

CCIN No : 001021201613926

 

Last Listing Date:

16/08/2016

Coram

HONOURABLE MR.JUSTICE S.H.VORA

 

S.NO.

Name of the Petitioner

Advocate On Record

1

CORRTECH INTERNATIONAL PRIVATE LIMITED

MR RAVISH D BHATT for: Petitioner(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

S.NO.

Name of the Respondant

Advocate On Record

1
2

AXIS BANK LIMITED
FERNAS CONSTRUCTION INDIA PRIVATE LIMITED

 

 

Presented On

: 01/08/2016

Registered On

: 12/08/2016

Bench Category

: SINGLE BENCH

District

: AHMEDABAD

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 1 times

StageName

: ADMISSION (FRESH MATTERS)

 

Classification

·         SJ - NON-SERVICE - LOWER COURT - CODE OF CIVIL PROCEDURE, 1908 - MISCELLANEOUS MATTERS

Act

·         CIVIL PROCEDURE CODE, 1908

 

 

LOWER COURT DETAILS

 

S. No.

Lower Court Case Detail

Lower Court Name

Judge Name

Judgmentdate

1

CMA/15/2016

CITY CIVIL COURT COURT, AHMEDABAD

-

21/06/2016

 

OFFICE DETAILS

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

01/08/2016

VAKALATNAMA

MR RAVISH D BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR RAVISH D BHATT(5867) for P:1

2

01/08/2016

CERTIFIED COPY

MR RAVISH D BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

2

MR RAVISH D BHATT(5867), for P:1

3

01/08/2016

MEMO OF PETITION/APPEAL/SUIT

MR RAVISH D BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

50

MR RAVISH D BHATT(5867), for P:1

4

12/08/2016

ADDITIONAL FEE ON VAKALATNAMA / JOINT VAKALATNAMA

MR RAVISH D BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR RAVISH D BHATT(5867) for P:1

5

12/08/2016

ADDITIONAL FEE ON MEMO OF APPEAL/PETITION/SUIT

MR RAVISH D BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

50

MR RAVISH D BHATT(5867) for P:1

 

COURT PROCEEDINGS

 

S. No.

Notified Date

Court Code

Board Sr. No.

Stage

Action

Coram

1

16/08/2016

24

19

URGENT ADMISSION (FRESH MATTERS)

·         HONOURABLE MR.JUSTICE S.H.VORA

 

 

 

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

No

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)

Yes

16

No. of employees

Yes

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

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 31.12.2017

 

(INR IN MILLION)

 

Particulars

Quarter

Ended

31.12.2017            

Quarter

Ended

30.09.2017             

For Nine Months 31.12.2017

 

(Unaudited)

(Unaudited)

(Unaudited)

 

 

 

 

Interest Earned

1172.155

1123.508

3400.912

Interest discount on advances/ bills

876.757

840.631

2538.446

Income on Investment

25..896

243.203

740.886

Interest on balances with Reserve Bank of India and other interbank funds

8.089

8.638

27.996

Others

31.413

31.036

93.584

Other Income

259.308

258.554

817.843

Total Income

1431.463

1382.062

4218.755

Interest expended

699.003

669.546

2012.184

Operating Expenses

347.080

334.784

1014.343

Employees cost

106.294

108.284

323.403

Other operating expenses

240.786

226.500

690.940

Total Expenditure

1046.083

100.4.330

3026.527

Operating Profit [Profit before provisions and contingencies]

385.380

377.732

1192.228

Provisions [Other than Tax]

281.104

314.041

829.338

Exceptional Items

0.000

0.000

0.000

Profit from ordinary activities before tax

104.276

63.691

362.890

Tax expense

31.632

20.453

116.448

Net profit from ordinary activities after tax

72.644

43.238

246.442

Extraordinary Items

0.000

0.000

0.000

Net profit/ loss for the year

72.644

43.238

246.442

Paid - up Equity Share Capital

(Face value of INR 10/- per share)

51.282

47.953

51.282

Reserves excluding revaluation reserves

 

 

 

Analytical Ration

 

 

 

Percentage of Shares held by Government of India

--

--

--

Capital Adequacy Ratio

17.50

15.97

17.50

Earnings Per Share (EPS)

 

 

 

a) Basic

3.00

1.80

10.24

b) Diluted

2.99

1.80

10.21

NPA Ratios

 

 

 

Amount of Gross Non-Performing Assets

2500.051

2740.232

2500.051

Amount of Net Non-performing Assets

1176.949

1405.234

1176.949

% of Gross NPAs

5.28

5.90

5.28

% of Net NPAs

2.56

3.12

2.56

Return of Assets [annualized %]

0.44

0.27

0.53

 

 

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

 

Particulars

Quarter

Ended

31.12.2017            

 

(Unaudited)

Capital

51.282

Reserves and Surplus

6503.483

Deposits

40896.669

Borrowings

14087.402

Other Liabilities and Provisions

2854.948

TOTAL

64393.784

ASSETS

 

Cash and Balances with Reserve Bank of India

2140.735

Balances with Banks and Money at Call and Short Notice

699.090

Investments

14238.912

Advances

42092.274

Fixed Assets

393.972

Other Assets

4828.801

TOTAL

64393.784

 

Notes:

1.     'Other income’ includes gains from securities’ transactions, commission earned from guarantees/letters of credit, fees earned from providing services to customers, selling of third party products, ATM sharing fees. 

 

2.     During the quarter ended 31st December, 2017 the Bank allotted 1,130,676 equity shares pursuant to the exercise of options under its Employee Stock Option Scheme. 

 

3.     During the quarter ended 31st December 2017, the Bank raised additional equity capital through a preferential allotment of 165,328,892 shares at a price of INR 525.00 per share. As a consequence, the paid-up share capital of the Bank has increased by INR 330.700 million and the reserves of the Bank have increased by INR 8,6209.500 million after charging of issue related expenses. Further, the Bank also allotted 45,357,385 convertible warrants carrying a right to the convertible warrant holder to apply for, get issued and allotted one (1) equity share of the Bank of face value INR 2 each, for cash, at a price of INR 565.00 per share. The convertible warrants are exercisable upto 18 months from the date of allotment. 

 

4.     During the current quarter, the Bank infused equity capital of INR 1000.000 million each in Accelyst Solutions Pvt. Ltd. and Freecharge Payment Technologies Pvt. Ltd., wholly owned subsidiaries of the Bank 

 

5.     In accordance with RBI circular DBR.No.BP.BC.1/21.06.201/2015-16 dated 1stJuly, 2015 on ‘Basel III Capital Regulations’ and RBI circular DBR.No.BP.BC.80/21.06.201/2014-15 dated 31st March, 2015 on ‘Prudential Guidelines on Capital Adequacy and Liquidity Standards Amendments’, banks are required to make Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III framework. The Bank has made these disclosures which are available on its website at the following link: http://www.axisbank.com/investor-corner/baselIII-disclosures.aspx. The disclosures have not been subjected to audit or limited review by the statutory auditors of the Bank. 

 

6.     The above results have been approved by the Board of Directors of the Bank at its meeting held at Mumbai today. 

 

7.     These results for the quarter and nine months ended 31st December, 2017 have been subjected to a "Limited Review" by the statutory auditors of the Bank. 

 

8.     Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.

 

 

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

 

Particulars

Quarter

Ended

31.12.2017            

Quarter

Ended

30.09.2017            

For Nine Months 31.12.2017

 

(Unaudited)

(Unaudited)

(Unaudited)

 

 

 

 

1] Segment Revenue

 

 

 

Treasury

1631.683

1554.299

4773.496

Power Corporate/ Wholesale Banking

574.678

558.599

1692.768

Retail Banking

1038.591

1008.379

3017.602

Others Banking Business

26.231

26.987

76.195

Total

3271.183

3148.264

9560.061

Less: Inter Segment Revenue

1839.720

1766.202

5341.306

Net Sales/Income from Operations

1431.463

1382.062

4218.755

 

 

 

 

2] Segment Results After Provision and Before Tax

 

 

 

Treasury

62.750

99.067

288.411

Power Corporate/ Wholesale Banking

(41.442)

(133.835)

160.266

Retail Banking

59.160

74.312

166.836

Others Banking Business

23.808

24.147

67.909

Total Profit Before Tax

104.276

63.691

362.890

 

 

 

 

3] Segment Assets 

 

 

 

Treasury

20216.551

20339.038

20216.551

Power Corporate/ Wholesale Banking

21956.096

21791.478

21956.096

Retail Banking

21444.617

20671.067

21444.617

Others Banking Business

82.156

78.792

82.156

Unallocated

964.364

651.243

694.364

Total

64663.784

63531.618

64393.784

 

 

 

 

Segment Liabilities  

 

 

 

Treasury

22021.417

21957.063

22021.417

Power Corporate/ Wholesale Banking

9964.447

11072.244

9964.447

Retail Banking

25759.289

24856.434

25759.289

Others Banking Business

9.122

6.025

9.122

Unallocated

84.744

22.696

84.744

Capital and Others Reserves t

6554.765

5617.156

6554.765

Total

64393.784

63531.618

64393.784

 

 

BACKGROUND

 

Subject was incorporated in 1993 and provides a complete suite of corporate and retail banking products. The Bank is primarily governed by the Banking Regulation Act, 1949. The Bank has overseas branches at Singapore, Hong Kong, DIFC - Dubai, Shanghai and Colombo.

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

Claims against the Bank not acknowledged as debts

4702.440

2634.701

Liability for partly paid investments

0.000

0.000

Liability on account of outstanding forward exchange and derivative contracts:

 

 

Forward Contracts

2681952.183

2556675.471

Interest Rate Swaps, Currency Swaps, Forward Rate Agreement & Interest Rate Futures

2011141.718

1796648.784

Foreign Currency Options

493833.247

429005.192

Guarantees given on behalf of constituents

 

 

In India

763736.463

558340.064

Outside India

47579.859

128192.798

Acceptances, endorsements and other obligations

335366.639

294853.158

Other items for which the Bank is contingently liable

357945.893

408113.397

Total

6696258.442

6174463.565

 


PRESS RELEASES:

 

AXIS BANK UPS LOAN RATES BY 5 BPS TO COUNTER MARGIN PRESSURE

 

18.01.2018

 

The move to increase the marginal cost of funds based lending rate (MCLR) comes days after the nation's largest lender SBI had lowered its rates under the older base rate system by a steep 30 bps.

 

Axis Bank, country's third private sector lender, has become the first commercial bank to hike lending rates by 5 basis points to 8.30 percent.

 

The hike comes for the first time in three years signalling an upward turn in interest rate cycle.

 

Axis Bank has raised lending rates by 5 basis points across all tenures with effect from January 18, the bank said in a filing on the stock exchanges.

 

With this, Axis Bank would charge 8.30 percent on loans having one year tenure for new borrowers.

Other banks could likely follow suit marking the end of easing rate cycle.

 

Country's largest bank, State bank of India (SBI) is yet to announce any such hike in rates.

 

The hike in the lending rates comes at a time when the yields on the government securities and corporates bonds have risen sharply.

 

In December quarter alone the 10-year yield had risen by 67 bps which is likely to result into mark-to-market losses between INR 150000.000 - 250000.000 million for banks.

 

The hike in lending rates by Axis bank will impact new borrowers while the existing borrowers will continue to have the benefit of lower rates till the end of lock-in period they have fixed with the bank.

 

Most home loans have a lock-in period of one year from the time the loan is taken and the new rates will be effective at the end of each year.

 

 

AXIS BANK POSTS ONE OF ITS STRONGEST QUARTERS AS RECOVERIES SPIKE AND SLIPPAGES HALVE

 

22.01.2018

 

The country's third largest private lender posted a 25% growth in net profit, helped by fee income, higher recoveries and a steep decline in provisions.

 

 

The country’s third largest private lender, Axis Bank, reported a 25 percent growth in net profit for the December quarter, helped by higher recoveries, a rise in fee income and a steep decline in provisions, as there weren't as many new bad loans as earlier.

 

The bank, which struggled with controversies throughout last year, reported net profit of INR 7264.400 million for the quarter under review, up from INR 5800.000 million a year ago. Sequentially, the bank's bottomline jumped 68 percent from the INR 4320.000 million reported for the September quarter.

 

The 25 percent fall in provisions was primarily on account of fresh slippages halving from their previous quarter levels. Slippages for the quarter ended December came in at INR 4,4280.000 million, as against nearly INR 9,0000.000 million in the September quarter.

 

The quarter ended September was a bad one for the private lender, which witnessed one of its highest-ever level of slippages on a quarterly basis. The bank was then required by the Reserve Bank of India to disclose an additional INR 5,6330.000 million as divergence in classification of NPAs.

 

Jairam Sridharan, Chief financial Officer at Axis Bank, said that the bank's watchlist of doubtful accounts now account for exposure of just INR 53000.000 crore, as against INR 226000.000 million seven quarters ago. A majority of the new slippages came from accounts rated BB or lower, not chunky accounts.

 

“The worst in terms of fresh stress being created is certainly behind us, (we are) not seeing any material increase in the stress pools or any new sectors particularly worrying and (but) you will continue to see recognition of identified stress pools such as BB and below rated accounts or the power sector will continue to see some of it,” Sridharan said.

 

According to the CFO, the bank has “largely starting to see the shift of the next phase, now that the recognition process is over and more resolution will take place. In the coming quarter, looking forward to see more conversation and commentary on the resolution of assets.”

 

Highest recoveries in 5 years

 

Axis Bank also boosted its recoveries in the quarter gone by to its highest in almost five years, having recovered INR 40080.000 million worth of assets.

 

This was a jump of over 280 percent from INR 10480.000 million recovered in the previous quarter and over 1,000 percent higher than the INR 3500.000 million recovered in the same quarter a year ago, thereby reducing the bank's provisioning requirement.

 

While fee income grew by 24 percent, a massive drop in treasury profits to INR 2000.000 million from INR 1,5000.000 million on hardening yields dented the lender's other income to INR 25930.000 million during the quarter as against INR 34000.000 million reported in the corresponding quarter last year.

 

During the quarter, Axis Bank infused over INR 80000.000 million of capital, lifting its overall capital ratio to 18 percent, with core tier-I capital at 14.13 percent.

 

Speaking about the ongoing SEBI probe into the leakage of its Q2 results on some WhatsApp groups hours before the official announcement, Sridharan said the bank has taken very strong measures to combat the issue and that “appropriate investigations are going on”.

 

The bank will interact with the markets regulator on the findings of the probe, Sridharan added.

 

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 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 64.85

UK Pound

1

INR 90.58

Euro

1

INR 79.97

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

RUP

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.