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|
MIRA INFORM REPORT
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Report No. : |
500470 |
|
Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
TIMES GLOBAL BROADCASTING COMPANY LIMITED |
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Formerly Known
As : |
TIMES TELEVISION LIMITED |
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Registered Office
: |
Trade House, 1st Floor, Kamala Mill Compound, Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-66353535 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
13.06.1986 |
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Com. Reg. No.: |
11-168454 |
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Capital
Investment / Paid-up Capital : |
INR 2850.000 Million |
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CIN No.: [Company Identification
No.] |
U32109MH1986PLC168454 |
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IEC No.: [Import-Export Code No.] |
0505017253 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCT2259F |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of distribution of television channels in India for the television broadcasters. The Company also provides share services to various TV channels /entity in the area of finance, legal, HR, commercial, administration and technical and broadcasting etc. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘Bennett, Coleman and Company Limited and it is engaged in the English television news segment of the media business, operates a general news and current affairs channel by the name “Times Now”. As per Registrar of Companies, the date of fillings is shown is 31.03.2017 but documents related to the financials of 31.03.2017 are not available from any other sources. As per the available financials of March 2016, the company had registered a growth of 34% in its revenue as compared to previous year’s revenue and had reported decent profit of 6.03%. Rating takes into consideration the company’s established track record of business operations marked by sound capital base along with low solvency indicators and decent liquidity position. Rating also takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. However, ratings strength is partially offset by negative reserves of the company. Payments seems to be usually correct. In view of aforesaid, the company can be considered good 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.
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 28.03.2018
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 (91-22-24999944)
91-22-24810000 / 66353535 - Continuously Ringing
LOCATIONS
|
Registered / Corporate Office : |
Trade House, 1st Floor, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24999944 / 24810000 |
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Fax No.: |
91-22-24931341 / 24990346 |
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E-Mail : |
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Website : |
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Head Office : |
Times of India Building, Dr. D N Road, Mumbai – 400001, Maharashtra,
India |
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Tel. No.: |
91-22-66353535 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Anand Moorkoth Kandoth |
|
Designation : |
Managing Director |
|
Address : |
901,Kedarnath Towers, Fisheries College
Lane, Off Yari Road, Opposite Badrinath Towers, Versova, Andheri (West),
Mumbai – 400061, Maharashtra, India |
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Date of Birth/Age : |
01.01.1967 |
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Date of Appointment : |
22.07.2014 |
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DIN No.: |
02973420 |
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|
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Name : |
Mr. Vineet Jain |
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Designation : |
Director |
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Address : |
15, Moti Lal Nehru Marg, New Delhi – 110011, India |
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Date of Birth/Age : |
12.02.1966 |
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Date of Appointment : |
31.03.2005 |
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DIN No.: |
00003962 |
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Name : |
Richard Blaise Saldanha |
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Designation : |
Additional Director |
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Address : |
24, Senor Valley Road No. 13 Jubille Hills, Hyderabad – 500033, Telangana, India |
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Date of Birth/Age : |
03.02.1944 |
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Date of Appointment : |
17.03.2016 |
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DIN No.: |
00189029 |
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Name : |
Mr. Mitu Samar Nath |
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Designation : |
Director |
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Address : |
205, Panch Leela, Panch Srishti Complex,
Near S.M. Shetty School, Powai, Mumbai – 400072, Maharashtra, India |
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Date of Birth/Age : |
02.01.1979 |
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Date of Appointment : |
06.08.2015 |
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DIN No.: |
07244627 |
KEY EXECUTIVES
|
Name : |
Mr. Jagdish Mulchandani |
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Designation : |
Chief Financial Officer |
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Address : |
704, 7th Floor, June Blossom Co-operative Housing Society, Opposite St. Joseph Convent Manual Gonsalves Road, Bandra, Mumbai – 400050, Maharashtra, India |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
AFEPM3986J |
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|
|
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Name : |
Riddhi Kishore Thakkar |
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Designation : |
Company Secretary |
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Address : |
Flat No. 3-5, 4th Floor, 140/L,
Cavel Cross Lane Chira Bazaar, Mumbai – 400002, Maharashtra, India |
|
Date of Appointment : |
09.12.2016 |
|
PAN No.: |
AJJPT0237G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Bennett Coleman and Company Limited, India |
40833848 |
|
Zoom Entertainment Network Limited |
1000000 |
|
S. Sivakumar Jointly with Bennett Coleman and Company Limited, India |
11 |
|
A. P. Parigi Jointly with Bennett Coleman and Company Limited, India |
11 |
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Shweta Chaturvedi Jointly with Bennett Coleman and Company Limited,
India |
11 |
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Kausik Nath Jointly with Bennett Coleman and Company Limited, India |
11 |
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Sukamal Dutta Jointly with Bennett Coleman and Company Limited, India |
11 |
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Vidyadharan Nair Jointly with Bennett Coleman and Company Limited,
India |
11 |
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Bijal Parmar Jointly with Bennett Coleman and Company Limited, India |
11 |
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|
|
|
Total |
41833925 |
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Names of Shareholders (Preference Shares) |
No. of Shares |
|
Bennett Coleman and Company Limited, India |
7600000 |
|
|
|
|
Total |
7600000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
97.61 |
|
Public/Other than promoters [Body corporate] |
2.39 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of distribution of television channels in India for the television broadcasters. The Company also provides share services to various TV channels /entity in the area of finance, legal, HR, commercial, administration and technical and broadcasting etc. [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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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
6, Karim Chambers, 40A Doshi Marg (Hamam Street), Mumbai, Maharashtra, India |
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PAN No.: |
AABFL1894Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company
[As on 2017] : |
· Bennett Coleman and Company Limited [U22120MH1913PLC000391] |
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Subsidiary company
[As on 2017] : |
· Springtide Infotainment Media Private Limited [U74999MH2016PTC285266] · Juventud Digital Media Private Limited [U74999MH2016PTC286167] |
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Fellow Subsidiaries
[As on 2016] : |
· BCCL International Events Private Limited · Times Internet Limited · Bennett Broadcasting and Distribution Services Limited · Zoom Entertainment Network Limited |
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Enterprises owned or
having significant influence by Key Managerial Personnel [As on 2016] : |
· Bennett Property Holding Company Limited · Banhem Estate and IT Park Limited |
CAPITAL STRUCTURE
AFTER 28.09.2017
Authorised Capital : INR
2850.000 Million
Issued, Subscribed & Paid-up Capital : INR 644.339 Million
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85789606 |
Equity Shares |
INR 10/- each |
INR 857.896 Million |
|
199210394 |
Preference Shares |
INR 10/- each |
INR 1992.104 Million |
|
|
|
|
|
|
|
Total |
|
INR 2850.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41833925 |
Equity Shares |
INR 10/- each |
INR 418.339 Million |
|
7600000 |
Preference Shares |
INR 10/- each |
INR 76.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 494.339
Million |
AS ON 21.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85789606 |
Equity Shares |
INR 10/- each |
INR 857.896 Million |
|
199210394 |
Preference Shares |
INR 10/- each |
INR 1992.104 Million |
|
|
|
|
|
|
|
Total |
|
INR 2850.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85789606 |
Equity Shares |
INR 10/- each |
INR 857.896 Million |
|
199210394 |
Preference Shares |
INR 10/- each |
INR 1992.104 Million |
|
|
|
|
|
|
|
Total |
|
INR 2850.000
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2850.000 |
2850.000 |
2850.000 |
|
(b) Reserves and Surplus |
(2370.888) |
(2467.037) |
(2441.749) |
|
(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) |
479.112 |
382.963 |
408.251 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
170.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
170.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
50.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
373.976 |
532.465 |
356.116 |
|
(c) Other
current liabilities |
50.694 |
121.652 |
173.382 |
|
(d) Short-term
provisions |
52.634 |
41.301 |
72.741 |
|
Total Current
Liabilities (4) |
527.304 |
695.418 |
602.239 |
|
|
|
|
|
|
TOTAL |
1006.416 |
1078.381 |
1180.490 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
18.966 |
19.347 |
103.408 |
|
(ii)
Intangible Assets |
0.348 |
0.000 |
9.552 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.511 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.266 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.000 |
|
(c) Deferred tax assets (net) |
15.311 |
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
444.034 |
353.145 |
376.747 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
478.669 |
373.013 |
490.973 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
5.000 |
0.000 |
84.646 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
348.289 |
604.920 |
494.896 |
|
(d) Cash and bank
balances |
113.848 |
58.832 |
15.549 |
|
(e)
Short-term loans and advances |
32.245 |
38.864 |
55.883 |
|
(f) Other
current assets |
28.365 |
2.752 |
38.543 |
|
Total
Current Assets |
527.747 |
705.368 |
689.517 |
|
|
|
|
|
|
TOTAL |
1006.416 |
1078.381 |
1180.490 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1594.684 |
1186.420 |
2417.346 |
|
|
Other Income |
35.114 |
9.366 |
198.193 |
|
|
TOTAL |
1629.798 |
1195.786 |
2615.539 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
531.662 |
|
|
Employee benefit expense |
742.870 |
609.676 |
924.157 |
|
|
Other expenses |
748.967 |
536.769 |
865.283 |
|
|
TOTAL |
1491.837 |
1146.445 |
2321.102 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
137.961 |
49.341 |
294.437 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.007 |
0.002 |
1.934 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
136.954 |
49.339 |
292.503 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
3.356 |
1.382 |
54.586 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
133.598 |
47.957 |
237.917 |
|
|
|
|
|
|
|
Less |
TAX |
37.448 |
25.303 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
96.150 |
22.654 |
237.917 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
0.000 |
0.000 |
2.677 |
|
|
Capital Goods |
0.000 |
0.000 |
20.100 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
22.777 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.26) |
(1.71) |
1.45 |
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 |
|
Net cash flows from (used in) operations |
127.612 |
(9.439) |
545.726 |
|
Net cash flows from (used in) operating activities |
(21.161) |
(5.188) |
515.280 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
79.72 |
186.10 |
74.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.58 |
1.96 |
4.88 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
244.48 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
7.14 |
2.48 |
2.58 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.52 |
0.64 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.10 |
0.00 |
0.42 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.10 |
1.82 |
1.48 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.04 |
0.05 |
0.28 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
137.00 |
24670.50 |
152.24 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
6.03 |
1.91 |
9.84 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.55 |
2.10 |
20.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
20.07 |
5.92 |
58.28 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.00 |
1.01 |
1.14 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.00 |
1.01 |
1.14 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.48 |
0.36 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.02 |
0.00 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.00 |
1.01 |
1.14 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
2850.000 |
2850.000 |
2850.000 |
|
Reserves & Surplus |
(2441.749) |
(2467.037) |
(2370.888) |
|
Net
worth |
408.251 |
382.963 |
479.112 |
|
|
|
|
|
|
Long-term borrowings |
170.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
50.000 |
|
Total
borrowings |
170.000 |
0.000 |
50.000 |
|
Debt/Equity
ratio |
0.416 |
0.000 |
0.104 |
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 |
2417.346 |
1186.420 |
1594.684 |
|
|
|
(50.921) |
34.411 |
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 |
2417.346 |
1186.420 |
1594.684 |
|
Profit/ (Loss) |
237.917 |
22.654 |
96.150 |
|
|
9.84
% |
1.91
% |
6.03
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
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 |
NOTE: The registered address has been shifted from
the Times House, 4th Floor, 7 Bahadurshah Zafar Marg, New Delhi –
110002, India to the present address w.e.f. 25.01.2007
COMPANY OVERVIEW
The Company is engaged in the business of distribution of television channels in India for the television broadcasters. The Company also provides share services to various TV channels /entity in the area of finance, legal, HR, commercial, administration and technical and broadcasting etc.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and
advances |
50.000 |
0.000 |
|
|
|
|
|
Total |
50.000 |
0.000 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C10263119 |
10131776 |
The Hongkong and Shanghai Banking Corporation Limited |
31/10/2008 |
- |
27/06/2014 |
250000000.0 |
Hongkong Bank Building, 52/60, Mahatma Gandhi Road, Fort, Mumbai Maharashtra 400001, India |
FIXED ASSETS:
· Plant and Equipment
· Furniture and Fixtures
· Office Equipment
· Leasehold Improvements
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 64.80 |
|
|
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.