MIRA INFORM REPORT

Report No. :	488063
Report Date :	24.01.2018

IDENTIFICATION DETAILS

Name :	DISNEY BROADCASTING (INDIA) LIMITED (w.e.f. 17.06.2015)
Formerly Known As :	UTV ENTERTAINMENT TELEVISION LIMITED (w.e.f. 05.11.2007) V AND S BROADCASTI NG LIMITED (w.e.f. 04.06.2007) V AND S BROADCASTI NG PRIVATE LIMITED
Registered Office :	1st Floor, Building No. 14, Solitaire Corporate, Park, Guru Hargovindji Marg, Chakala, Andheri (East) , Mumbai-400093, Maharashtra
Tel. No.:	91-22-61091000
Country :	India
Financials (as on) :	31.03.2016
Date of Incorporation :	28.04.2007
Com. Reg. No.:	11-170405
Capital Investment / Paid-up Capital :	INR 104.480 Million
CIN No.: [Company Identification No.]	U64200MH2007PLC170405
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
TIN No.:	27380679030
PAN No.: [Permanent Account No.]	AACCV4782D
GST No.:	27AACCV4782D1Z8
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Television Programing and Distribution Services to Television Channels. [Registered Activity]
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject was incorporated in the year 2007 and it is subsidiary of Disney Entertainment (India) Limited (formerly known as UTV Global Broadcasting Limited) and part of well-known Disney Group which is ranked at 52nd position at Fortune 500. It is engaged in the business of broadcasting at national and international standard and advertisement media through T.V. Network and other services. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. As per the FY 2016, the company has achieved decent revenue base which has improved as compared to previous year. Even though the company has reported continuous loss from its operations it has been remained successful in maintaining positive reserve position in the year under the review. The company possesses healthy financial profile marked by sound networth base, sufficient cash position along with favourable gap between trade payables and receivables. The rating reflect company’s strong parentage and brand equity associated with the Disney Group, experienced management team drawn from parent and strong financial flexibility enjoyed by company by virtue of being part of Disney Group. Trade relations are reported as trustworthy. Payment terms are reported to be regular and as per commitment. In view of strong brand image in the market and part of “Disney Group”, the company can be considered good 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.

EXTERNAL AGENCY RATING

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 24.01.2018

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

MANAGEMENT NON-COOPERATIVE [91-22-61091000]

LOCATIONS

Registered/ Corporate Office :	1st Floor, Building No. S 14, Solitaire Corporate, Park, Guru Hargovindji Marg, Chakala, Andheri (East) , Mumbai-400093, Maharashtra, India
Tel. No.:	91-22-61091000
Fax No.:	Not Available
E-Mail :	puneet.juneja@disney.com raviraj.parab@disney.com india.hr@disney.com
Website :	http://corporate.disney.in

DIRECTORS

AS ON: 31.03.2017

Name :	Mr. Prem Raj Mehta
Designation :	Director
Address :	S-3 Pemino, Altamount Road, Mumbai-400026, Maharashtra, India
Date of Birth/Age :	16.10.1944
Qualification :	Graduate
Date of Appointment :	01.10.2015
DIN No.:	00005622
Name :	Mr. Narendra Kumar Anand Ambwani
Designation :	Director
Address :	1201 , Sterling Sea Face Dr. Annie Besant Road , Worli Mumbai-400018, Maharashtra, India
Date of Birth/Age :	15.11.1948
Qualification :	Graduate
Date of Appointment :	01.10.2015
DIN No.:	00236658
Name :	Mr. Abhishek Maheshwari
Designation :	Wholetime Director
Address :	A/802, Lodha Belissimo, N M Joshi Marg, Apollo Compound, Jacob Circle, Mahalaxmi , Mumbai-400011, Maharashtra, India
Date of Appointment :	01.07.2017
DIN No.:	01928397
Name :	Mrs. Amrita Pradeepkumar Pandey
Designation :	Director
Address :	A/131, Nibbana Co-Op Hsg. Sco. Limited, Nargis Dutt Road, Pali Hill Road, Bandra [West], Mumbai-400050, Maharashtra, India
Date of Appointment :	12.04.2017
DIN No.:	06408180

KEY EXECUTIVES

Name :	Mrs. Sarika Pramod Joshi
Designation :	Company Secretary
Address :	'A' Wing, 501, Shree Ganasiddhi Vinayak, Dilip Gupte Road, Mahim (West), Mumbai-400016, Maharashtra, India
Date of Birth/Age :	20.06.1981
Qualification :	CS
Date of Appointment :	17.03.2015
PAN No.:	ADLPT3255C
Name :	Mr. Rajdeep Sunil Bordekar
Designation :	Chief Finance Officer
Address :	H-1801, Eternity Complex, Teen Hath Naka, Thane [West]-400604, Maharashtra, India
Date of Appointment :	17.11.2017
PAN No.:	AJKPB8036A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2016

Names of Shareholders	No. of Shares
Disney Entertainment (India) Limited, India	10447962
Nimish Shah (held as nominees of Disney Entertainment (India) Limited)	01
Anuraag Shroff (held as nominees of Disney Entertainment (India) Limited)	01
Sujit Vaidya (held as nominees of Disney Entertainment (India) Limited)	01
S Venkata Subramanian (held as nominees of Disney Entertainment (India) Limited)	01
Charles Jacob (held as nominees of Disney Entertainment (India) Limited)	01
Kunal Bharti (held as nominees of Disney Entertainment (India) Limited)	01
Total	10447968

AS ON: 29.09.2016

Equity Share Breakup	Percentage of Holding
Category
Promoters (Body corporate)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Television Programing and Distribution Services to Television Channels. [Registered Activity]

Products :

ITC Code No.	Product Descriptions
99846220	Television Channel Programs

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

Information declined by the management

Bankers :

• Axis Bank Limited

Credit Management Center, Unit No 6, Corporate Park, Chembur, Mumbai-400071, Maharashtra, India

• Yes Bank Limited

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India

• HDFC Bank Limited

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Financial Institutions:	SBICAP Trustee Company Limited 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India SICOM Limited Nirmal Building, 1st Floor, Nariman Point, Mumbai-400021, Maharashtra, India
Auditors :
Name :	Price Waterhouse and Co Bangalore LLP Chartered Accountants
Address :	5th Floor, Tower D, The Mellenia 1 & 2, Murphy Road, Ulsoor, Bangalore-560008, Karnataka, India
Income-tax PAN of auditor or auditor's firm :	AADFP9359C
Memberships :	Not Available
Collaborators :	Not Available
Ultimate Holding Company:	The Walt Disney Company, United States
Immediate Holding Company :	Disney Entertainment (India) Limited [U32300MH2007PLC171337]
Intermediate Holding Companies :	The Walt Disney Company (Southeast Asia) Pte. Limited, Singapore UTV Software Communications Limited [U72200MH1990PLC056987] Disney Enterprises Inc.
Fellow Subsidiary Companies :	Genx Entertainment Limited [U92142MH2007PLC167974] U T V Communications (USA) LLC Indiagames Limited The Walt Disney Company (India) Private Limited Buena Vista International Inc. United Home Entertainment Private Limited

CAPITAL STRUCTURE

AFTER: 29.09.2016

Authorised Capital: INR 271.347 Million

Issued, Subscribed & Paid-up Capital: INR 124.344 Million

AS ON: 31.03.2016

Authorised Capital:

No. of Shares	Type	Value	Amount
11050000	Equity Shares	INR 10/- each	INR 110.500 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
10447968	Equity Shares	INR 10/- each	INR 104.480 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	104.480	99.820	88.720
(b) Reserves & Surplus	464.560	356.680	(307.670)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds	569.040	456.500	(218.950)
(3) Non-Current Liabilities
(a) Long-term borrowings	880.000	980.000	1267.260
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	10.700	8.200	11.490
Total Non-current Liabilities	890.700	988.200	1278.750
(4) Current Liabilities
(a) Short term borrowings	976.480	395.040	1252.450
(b) Trade payables	2126.260	1879.610	436.330
(c) Other current liabilities	292.050	579.170	86.630
(d) Short-term provisions	37.810	1.310	5.800
Total Current Liabilities	3432.600	2855.130	1781.210
TOTAL	4892.340	4299.830	2841.010
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	22.160	8.620	27.850
(ii) Intangible Assets	10.810	7.380	9.020
(iii) Capital work-in-progress	0.750	9.600	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	398.710	227.020	258.310
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	432.430	252.620	295.180
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1944.720	2042.110	1842.360
(c) Trade receivables	2248.020	1671.890	423.490
(d) Cash and cash equivalents	63.490	62.410	9.710
(e) Short-term loans and advances	187.670	267.340	260.020
(f) Other current assets	16.010	3.460	10.250
Total Current Assets	4459.910	4047.210	2545.830
TOTAL	4892.340	4299.830	2841.010

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2016	31.03.2015	31.03.2014
	SALES
		Revenue from Operations	4622.150	3196.670	1385.500
		Other Income	25.690	3.410	8.920
		TOTAL	4647.840	3200.080	1394.420
Less	EXPENSES
		Cost of Materials Consumed	3896.710	2882.780	0.000
		Employees benefits expense	238.620	151.070	265.870
		Other expenses	601.630	409.470	271.670
		Expenditure on production, transportation and other expenditure pertaining to exploration and production activities	0.000	0.000	1333.570
		Prior Period Items	38.650	0.000	0.000
		TOTAL	4775.610	3443.320	1871.110
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(127.770)	(243.240)	(476.690)
Less	FINANCIAL EXPENSES		168.740	207.130	214.290
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(296.510)	(450.370)	(690.980)
Less/ Add	DEPRECIATION/ AMORTISATION		8.210	5.540	17.520
	PROFIT/ (LOSS) BEFORE TAX		(304.720)	(455.910)	(708.500)
Less	TAX		0.000	118.640	0.000
	PROFIT/ (LOSS) AFTER TAX		(304.720)	(574.550)	(708.500)
	EARNINGS IN FOREIGN CURRENCY
		Earnings on other income	143.230	147.170	16.351
	Earnings/ (Loss) Per Share (INR)		(30.46)	(60.82)	(79.85)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	0.000	417.260	0.000
Cash generated from operations	NA	NA	NA
Net Cash flow from (used in) Operations	(90.880)	(220.000)	(804.970)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income * 365 Days)	177.52	190.90	111.57
Account Receivables Turnover (Income / Sundry Debtors)	2.06	1.91	3.27
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	199.16	237.98	0.00
Inventory Turnover (Operating Income / Inventories)	(0.07)	(0.12)	(0.26)
Asset Turnover (Operating Income / Net Fixed Assets)	(3.79)	(9.50)	(12.93)

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.88	0.99	1.07
Debt Equity Ratio (Total Liability / Networth)	3.26	3.93	(11.51)
Current Liabilities to Networth (Current Liabilities / Net Worth)	6.03	6.25	(8.14)
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.06	0.06	(0.17)
Interest Coverage Ratio (PBIT / Financial Charges)	(0.76)	(1.17)	(2.22)

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin ((PAT / Sales) * 100)	%	(6.59)	(17.97)	(51.14)
Return on Total Assets ((PAT / Total Assets) * 100)	%	(6.23)	(13.36)	(24.94)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	(53.55)	(125.86)	323.59

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.30	1.42	1.43
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.73	0.70	0.39
G-Score Ratio Financial (Networth / Total Assets)	0.12	0.11	(0.08)
G-Score Ratio Debt (Debts / Equity Capital)	17.77	17.96	28.40
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.30	1.42	1.43

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	88.720	99.820	104.480
Reserves & Surplus	(307.670)	356.680	464.560
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(218.950)	456.500	569.040
Long-term borrowings	1267.260	980.000	880.000
Short term borrowings	1252.450	395.040	976.480
Current Maturities of Long Term Debt	0.000	417.260	0.000
Total borrowings	2519.710	1792.300	1856.480
Debt/Equity ratio	(11.508)	3.926	3.262

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	1385.500	3196.670	4622.150
		130.723	44.593

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	1385.500	3196.670	4622.150
Profit/ (Loss)	(708.500)	(574.550)	(304.720)
	(51.14%)	(17.97%)	(6.59%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
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	No
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

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	B44356038	10168719	SBICAP TRUSTEE COMPANY LIMITED	06/07/2009	-	17/07/2012	500000000.0	202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN
2	B37468071	10273307	AXIS BANK LIMITED	28/02/2011	-	11/04/2012	250000000.0	Credit Management Center,Unit No 6,Corporate ParkChembur,MumbaiMumbaiMH400071IN
3	A72156607	10098459	YES BANK LIMITED	31/03/2008	-	22/10/2009	500000000.0	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN
4	A72166077	10168723	SICOM LIMITED	06/07/2009	-	21/10/2009	500000000.0	NIRMAL BLDG1ST FLOORNARIMAN POINTMUMBAIMH400021IN
5	A43519339	10085924	HDFC BANK LIMITED	12/01/2008	-	24/07/2008	200000000.0	HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

UNSECURED LOANS

PARTICULARS	31.03.2016 (INR In Million)	31.03.2015 (INR In Million)
LONG-TERM BORROWINGS
Intercorporate borrowings	880.000	980.000
SHORT TERM BORROWINGS
Rupee term loans from banks	976.480	395.040
Total	1856.480	1375.040

CONTINGENT LIABILITIES:

Particulars	31.03.2016 (INR In Million)	31.03.2015 (INR In Million)
Claims against company not acknowledged as debt	270.000	19.270

GENERAL INFORMATION

Subject ("DBIL / the Company") was incorporated in India as a Public Limited Company under the Companies Act, 1956 on April 28, 2007. The name of the Company was changed to Disney Broadcasting (India) Limited (DBIL) from UTV Entertainment Television Limited (UETL) on June 17, 2015. The Company is a 100% subsidiary of Disney Entertainment (India) Limited (“DEIL”) [formerly known as UTV Global Broadcasting Limited ("UGBL")] which in turn is the subsidiary of UTV Software Communications Limited (“USCL”). The Company owns and operates six channels namely ‘UTV Movies’, ‘UTV World Movies’, 'Bindass Play ’, ‘Disney Channel', ‘Disney XD' and 'Disney Junior'. The Company provides distribution services to television channels owned by the Company and its group companies.

BUSINESS OVERVIEW:

The Company is engaged in the business of broadcasting of entertainment (non-news) channels namely “UTV Movies”, “Bindass Play”, “Disney XD”, “Disney Junior”, “Disney Channel” and “UMP Movies” The broadcasting industry continues to evolve with the advent of digital, viewership shifts, developments in the distribution landscape, a new ratings measurement system and increased competition.

The Media Networks business of the Company had a strong performance in the year with revenue growth of 44%, driven by new channels and growth in advertising sales and distribution income.

The Disney Channel has maintained its leadership position as one of the top three kids channel .In the year 2015, the Company had planned to expand Disney Channel viewership by introducing family-targeted content. The content did not attract new audiences and was discontinued. The Company has now refocused the channel to become the No. 1 destination for Indian kids and is continuing to develop strong local animation properties. In addition, the Company plans to launch a new HD channel leveraging their global content pool and further strengthening their Kids offering.

The Movie Channel genre has seen intense and increasing competition over the past few years, driven by new channel launches by GEC backed networks, resulting in higher content costs and fragmented viewership. The Company proposes to optimize the return on its current library assets while continuing to evaluate other programming opportunities in parallel.

SCHEME OF ARRANGEMENT/ AMALGAMATION/ RESTRUCTURING:

The Board of Directors of the Company had at their meeting held on December 22, 2015 approved the draft Scheme of Arrangement and Amalgamation between the Company and United Home Entertainment Private Limited and filing of the same with the Hon’ble High Court of Judicature at Mumbai (“the Court”).

The Company has filed an application for sanctioning the aforesaid Scheme with the Court on February 08, 2016. The Court vide its order dated July 01, 2016 has, inter alia, dispensed with the Court Convened Meeting of the shareholders of the company for seeking their consent to the scheme in view of their written consent, However, the court has directed that approval of the shareholders be taken for reduction of Securities Premium Account before the petition is filed by the Company at the extra ordinary General Meeting. Further, the reduction of Securities Premium Account for writing off the existing debit balance in the Profit & Loss Account of the Company forms an integral part of the Scheme and amounts to reduction in capital in terms of Section 52 of the Companies Act, 2013, Section 78 and Sections 100 to 103 of the Companies Act, 1956.

Thereafter, the company will proceed with the filing of necessary petition with the Court. Once sanctioned by the Court, United Home Entertainment Private Limited shall stand merged with the Company.

FIXED ASSETS:

• Plant and equipment
• Office equipment
• Computer equipments

PRESS RELEASE

MAHESH SAMAT RETURNS TO DISNEY INDIA AS MANAGING DIRECTOR AFTER FOUR YEARS 

26.10.2016

MUMBAI: Former Disney India head Mahesh Samat is set to return to the company after 4 years 

Walt Disney International, a division of The Walt Disney Company, today announced that Samat will return to his leadership role of The Walt Disney Company India as managing director starting November 28. Based in Mumbai, he will report directly to Andy Bird, chairman, Walt Disney International. 

Replacing current India head Siddharth Roy Kapur, Samat will resume management of all Disney businesses in India (except ESPN), with all local business segments reporting into him. 

“Mahesh guided Disney in India in its early days, and we are thrilled with his decision to return to the organisation he helped build,” said Bird. “They are encouraged by the opportunity we see to further grow our business in India and believe Mahesh’s entrepreneurial spirit, knowledge of our brands and franchises, and long-standing expertise in our broader operations will continue the momentum we are experiencing in this dynamic market.” 

ET had earlier reported that Kapur and Disney have mutually agreed not to renew the contract. “Sid is a pillar of the Indian entertainment industry and has demonstrated passion and commitment for the Disney business. He carved a strong position for Disney in the Indian media and entertainment space that positions us well for the future. We are immensely thankful for his service and wish him well in his next venture,” Bird added. 

As MD, Samat will have responsibility for setting and driving The Walt Disney Company’s strategy, coordinating all business efforts in India including overseeing Disney global franchises in the market, expanding existing businesses, and creating new business opportunities. 

Samat had left Disney India in early 2012 after the company took over Ronnie Screwvala's UTV Software BSE 0.09 %. He launched his own TV venture, Epic Television Networks in 2014, which runs a Hindi entertainment channel focused on history, folklore and mythology-based content. 

Recently, Aditya Pittie of Pittie Group joined the company as director to lead the day-to-day operations of the channel, paving the way for Samat to move back to Disney. 

“It’s exciting to return to the wonderful world of Disney,” Samat said. “Disney really is special entertainment with heart, and I am delighted to see that the unique stories and iconic characters of Disney, Pixar, Marvel and Star Wars--as well as our homegrown brands of Hungama, Bindass and UTV--continue to find a home among Indian audiences. Moving forward, we’ll accelerate the great work done by the team and create new, innovative ways for audiences to engage with our stories, brands and chara.

With over 25 years of experience in FMCG and Healthcare across India, Asia-Pacific and Europe, Samat originally joined Disney in 2007 from Johnson & Johnson, where he was the Managing Director, Southern Europe, J &J Vision Care, based out of London. Prior to Johnson & Johnson, he worked for Kellogg’s, Warner Lambert/Parke-Davis, and Boots India Limited.

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 63.77
UK Pound	1	INR 89.20
Euro	1	INR 78.22

INFORMATION DETAILS

Information Gathered by:	KAM
Analysis Done by:	NIY
Report Prepared by:	RUP

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)

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.