|
|
|
MIRA INFORM REPORT
|
Report No. : |
500312 |
|
Report Date : |
27.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
JSW IP HOLDINGS PRIVATE LIMITED (w.e.f. 18.12.2014) |
|
|
|
|
Formerly Known
As : |
VIGILANT
CONSULTANCY SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra |
|
Tel. No.: |
91-22-42861000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
11.02.2014 |
|
|
|
|
Com. Reg. No.: |
11-253122 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 20.110 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2014PTC253122 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
27591131565 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECV7489H |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
27AAECV7489H1ZO |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into providing brand management and promotion services. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “JSW Investments Private Limited” which was
incorporated in February 2014, it is part of “JSW” group. The company engaged
into advertising and marketing research of JSW brand. Management of the company has not filed its financials of 2017 with
government department. As per available financials of 2016, the company has achieved decent
revenue from its 1st year of business operations and reported
profitability margin of 3.31%. However, rating takes into consideration moderate financial risk
profile of the company along with low reserves level. Further, rating is constrained on account of limited track records of
business operations and unavailability of latest financials. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some
caution. |
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
|
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 27.03.2018
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
Management non-cooperative (Tel No.:91-22-42861000)
LOCATIONS
|
Registered Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra, India |
|
Tel. No.: |
91-22-42861000 |
|
Fax No.: |
91-22-42863000 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 2018
|
Name : |
Mrs. Vijaya Raghavan Kannan |
|
Designation : |
Director |
|
Address : |
6-3-1099/1100, Plot 15B, Behind Babu Khan Millennium, Somajiguda,
Hyderabad-500082, Telangana, India |
|
Date of Appointment : |
06.10.2015 |
|
DIN No.: |
00544730 |
|
|
|
|
Name : |
Mr. Alok Mehrotra |
|
Designation : |
Director |
|
Address : |
A-9/503, Saket Complex, Majiwada, Thane (West), Mumbai-400601,
Maharashtra, India |
|
Date of Appointment : |
07.08.2015 |
|
DIN No.: |
01066025 |
|
|
|
|
Name : |
Mr. Sanjeev Tansukhlal Doshi |
|
Designation : |
Director |
|
Address : |
B/201, Mhatre Plaza, M. G. Road, Dahanukarwadi, Kandivali (West),
Mumbai- 400067, Maharashtra, India |
|
Date of Appointment : |
19.04.2015 |
|
DIN No.: |
06675966 |
|
|
|
|
Name : |
Ms. Sheila Sangwan |
|
Designation : |
Director |
|
Address : |
22, 6th Floor, Dakshineshwar, 10, Hailey Road, New Delhi-110001, India |
|
Date of Appointment : |
01.06.2016 |
|
DIN No.: |
01857875 |
|
|
|
|
Name : |
Ms. Sangita Jindal |
|
Designation : |
Director |
|
Address : |
32 Jindal House, Walkeshwar Road, Walkeshwar, Mumbai-400006, Maharashtra, India |
|
Date of Appointment : |
28.09.2016 |
|
DIN No.: |
00497315 |
|
|
|
|
Name : |
Mr. Romit Chaterji |
|
Designation : |
Director |
|
Address : |
1203, Raheja Empress, 392, Veer Savarkar Marg, Opposite Siddhivinayak Temple, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Appointment : |
28.09.2016 |
|
DIN No.: |
02395793 |
|
|
|
|
Name : |
Partha Sengupta |
|
Designation : |
Director |
|
Address : |
37, Circuit House Area, Jamshedpur-831001, India |
|
Date of Appointment : |
16.12.2017 |
|
DIN No.: |
01851810 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
JSW Investments Private Limited |
|
10900 |
|
Deepak Bhat (Nominee of JSW Investments Private Limited) |
|
100 |
|
Total |
|
11000 |
|
Names of Shareholders (7%
Non-Cumulative Redeemable Preference Shares) |
|
No. of Shares |
|
JSW Investments Private Limited |
|
2000000 |
|
Total |
|
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.08.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
0.90909091 |
|
Promoters (Bodies corporate) |
99.09090909 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into providing brand management and promotion 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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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 : |
Information declined by the management |
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||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Shah
Gupta and Company Chartered Accountants |
|
Address : |
38, Bombay Mutual
Building, 2nd Floor, Dr. D N Road, Mumbai-400001, Maharashtra,
India |
|
Tel. No.: |
91-22-22623000 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS7702F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company (As on 31.03.2016) : |
JSW Investments Private Limited, India CIN No.: U65993MH2005PTC152325 |
|
|
|
|
Fellow Subsidiaries (As on 31.03.2016) : |
·
JSW Infrastructure Limited ·
JSW Jalgrah Port Limited ·
South West Port Limited ·
JSW Dharamtar Port Private Limited ·
JSW Bengaluru Football Club Private Limited |
|
|
|
|
Other related parties
with whom the Company has entered into transactions during the year (As on 31.03.2016) : |
· JSW Steel Limited · JSW Energy Limited · Jindal South West Sports Private Limited · JSW Recharge Sports Private Limited · Art India Publishing Company Private Limited |
CAPITAL STRUCTURE
As on 31.08.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000 |
Equity Shares |
INR 10/- each |
INR 0.110 Million |
|
2000000 |
7% Non-Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 20.000 Million |
|
|
Total |
|
INR 20.110
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000 |
Equity Shares |
INR 10/- each |
INR 0.110 Million |
|
2000000 |
7% Non-Cumulative Redeemable Preference Shares |
INR 10/- each |
INR 20.000 Million |
|
|
Total |
|
INR 20.110
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 |
20.110 |
0.110 |
0.110 |
|
(b) Reserves & Surplus |
15.704 |
(0.072) |
(0.020) |
|
(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 (1) + (2) |
35.814 |
0.038 |
0.090 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.191 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.149 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.340 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
26.284 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
109.424 |
0.011 |
0.011 |
|
(d) Short-term
provisions |
0.007 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
135.715 |
0.011 |
0.011 |
|
|
|
|
|
|
TOTAL |
171.869 |
0.049 |
0.101 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5.289 |
0.000 |
0.000 |
|
(ii)
Intangible Assets |
0.559 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
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 |
52.931 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
58.779 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
40.470 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
5.750 |
0.049 |
0.101 |
|
(e) Short-term
loans and advances |
66.870 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
113.090 |
0.049 |
0.101 |
|
|
|
|
|
|
TOTAL |
171.869 |
0.049 |
0.101 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
476.240 |
0.000 |
0.000 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
|
476.240 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Brand Development and
Promotion expenses |
442.686 |
0.000 |
0.000 |
|
|
Employees benefits expense |
6.671 |
0.000 |
0.000 |
|
|
Other expenses |
2.820 |
0.052 |
0.020 |
|
|
TOTAL
|
452.177 |
0.052 |
0.020 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
24.063 |
(0.052) |
(0.020) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.347 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
23.716 |
(0.052) |
(0.020) |
|
|
|
|
|
|
|
Less |
TAX |
7.940 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
15.776 |
(0.052) |
(0.020) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(0.072) |
(0.020) |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
15.704 |
(0.072) |
(0.020) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
1434.20 |
(4.69) |
(1.86) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
(0.009) |
|
Net cash used in operating activities |
(10.483) |
(0.051) |
(0.009) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
31.02 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
11.77 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
4.11 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.79 |
0.22 |
0.11 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.79 |
0.29 |
0.12 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.16 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
69.35 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.65 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
4.56 |
(106.12) |
(19.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
21.88 |
(136.84) |
(22.22) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.83 |
4.45 |
9.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.83 |
4.45 |
9.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.21 |
0.78 |
0.89 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.83 |
4.45 |
9.18 |
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 |
0.110 |
0.110 |
20.110 |
|
Reserves & Surplus |
(0.020) |
(0.072) |
15.704 |
|
Net
worth |
0.090 |
0.038 |
35.814 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
21] |
Banking facility details |
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 |
Yes |
|
26] |
Turnover of firm for last about two years
2 months |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last about two years 2
months |
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 |
OPERATIONAL REVIEW
(AS on 31.03.2016)
The Company has recorded a very good performance during the year. The Company has earned profit of INR 15.776 Million as against loss of INR 0.052 Million ln the previous year. The Profit before tax is INR 23.716 Million After providing for tax of INR 7.940 Million the Net Profit for the year is INR 15.776 Million as against loss of INR 0.052 in the previous year.
INDEX
OF CHARGES NO CHARGES EXISTS FOR COMPANY
WEBSITE DETAILS
NEWS / PRESS RELEASES
JSPL DEFAULTS ON
INTEREST PAYMENT ON NCDS
October 6, 2016
Naveen Jindal-led Jindal Steel and Power (JSPL) today said it has defaulted on payment of interest on non-convertible debentures (NCDs), due on September 30, 2016 on account of cash flow mismatches.
“The company has not made payment towards the interest due on ... NCDs, the due date for payment of which was September 30, 2016,” the debt-laden firm said in a regulatory filing.
The NCDs carried a coupon rate of 9.8 per cent and Axis Trustee Services was the trustee, it added.
When contacted, a JSPL spokesperson said: “The non-payment of interest on NCDs has been disclosed as per regulatory norms. The said non-payment is due to short-term cash flow mismatches and will be paid in due course.”
Reacting to the development, JSPL shares today fell 5.27 per cent to INR 79.05 a piece in the afternoon trade on BSE, while they dropped by 5.33 per cent to INR 79.05 per share on the NSE.
In the last few months, the company had divested some of its assets to pare debt. JSPL has a net debt of around INR 460000.000 Million.
Earlier this week, JSPL had said it will sell its 24-MW wind power plant in Satara, Maharashtra to a subsidiary of India infrastructure Fund II for an undisclosed amount.
In May this year, the firm had inked an agreement with JSW Energy, a firm led by Naveen’s brother Sajjan Jindal, to sell its 1,000-MW power plant, situated at Raigarh, Chhattisgarh.
According to the deal, JSW will pay at least INR 40000.000 Million, excluding net current assets, and an additional INR 25000.000 Million if JSPL’s power plant secures a long-term power purchase agreement.
Similarly, in March, JSPL had announced that its subsidiary Jindal Power had entered into a definitive agreement to divest 4.12 per cent stake in Indian Energy Exchange for an undisclosed amount by month-end.
JSPL AGAIN DEFAULTS
ON INTEREST PAYMENT
November 3, 2016
Jindal Steel and Power
Limited says that they fails to pay INR 154.300 million interest on non
convertible debentures
Jindal Steel and Power Limited on Thursday said it has failed to pay INR 154.300 Million interest on non convertible debentures (NCDs), which was due on October 31.
"The company has not made payment of INR 154.300 Million towards the
interests due on NCDs, the due date for payment of which was October 31,
2016," JSPL said in a regulatory filing.
Last month, the firm had said it has defaulted on payment of interest on NCDs, due on September 30, 2016 on account of cash flow mismatches.
In the last few months, the Naveen Jindal led company has divested some of its
assets to pare debt. JSPL has a net debt of around INR 460000.000
million.
In October, the company said it will sell its 24 MW wind power plant in
Satara, Maharashtra to a subsidiary of India infrastructure Fund II
for an undisclosed amount.
Similarly, in May this year, the firm inked an agreement with JSW Energy, a
firm led by Naveen's brother Sajjan Jindal, to sell its 1,000 MW power plant,
at Raigarh, Chhattisgarh.
According to the deal, JSW will pay at least INR 40000.000 Million, excluding
net current assets, and an additional INR 25000.000 Million if JSPL's power
plant secures a long term power purchase agreement.
Likewise, in March, JSPL announced that its subsidiary Jindal Power
has entered into a definitive agreement to divest 4.12% stake in Indian Energy
Exchange for an undisclosed amount by month-end.
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 64.91 |
|
UK Pound |
1 |
INR 91.86 |
|
Euro |
1 |
INR 80.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYTK |
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.