MIRA INFORM REPORT
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Report Date : |
11th May, 2006. |
IDENTIFICATION DETAILS
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Name : |
BG EXPLORATION AND
PRODUCTION INDIA LIMITED |
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Registered Office : |
1st Floor,
Midas, Sahar Plaza, Kondivita, MV Road Andheri (East), Mumbai – 400 059,
India |
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Country : |
India |
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Date of Incorporation : |
Around 2003 |
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TAN No.: (Tax Deduction &
Collection Account No.) |
MUMB12758E |
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PAN No.: (Permanent Account No.) |
AAACE4569K |
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Legal Form : |
A
Closely held Public Limited Liability Company |
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Line of Business : |
The
Company is lie in Exploration, Production, Development and Supply of existing
and emerging gas markets around the world. |
RATING & COMMENTS
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MIRA’s Rating : |
Undetermined |
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Maximum Credit Limit : |
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Status : |
Undetermined |
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Comments : |
As
the company is incorporated outside India (in Cayman Islands), it would be
difficult to assess it’s performance and financial status of the company. |
LOCATIONS
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Registered Office : |
1st Floor,
Midas, Sahar Plaza, Kondivita, MV Road Andheri (East), Mumbai – 400 059,
India |
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Tel. No.: |
91-22-56435000 |
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Fax No.: |
91-22-28395201 |
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E-Mail : |
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Head Office : |
BG Group plc, Thames Valley Park, Reading, Berkshire, RG6 1PT |
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Tel. No.: |
44-(0) 1189353222 |
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Fax No.: |
44-(0) 1189353484 |
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E-Mail : |
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Aberdeen Office : |
BG Group plc , 6 Albyn Grove, Aberdeen, SCOTLAND,
AB10 6SQ |
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Tel. No.: |
44
(0) 1224202020 |
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Fax No.: |
44
(0) 1224202099 |
DIRECTORS
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Name : |
Mr. Nigel Shaw |
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Designation : |
Chief
Executive Officers BG
India |
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Name : |
Mr.
Kapil Garg |
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Designation : |
Managing Director BG
Exploration & Production India Ltd. (BGEPIL) |
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Name : |
Mr.
B S Shanthraju |
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Designation : |
Managing
Director Gujarat
Gas Company Limited (GGCL) |
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Name : |
Mr. Gary Morgan |
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Designation : |
Technical Director BG
India |
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Name : |
Mr. Harbinder Singh Ahluwalia |
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Designation : |
Finance Director BG
India |
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Name : |
Mrs. Nicole Mcmahon |
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Designation : |
Director,
Policy and corporate Affairs BG
India |
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Name : |
Mr. Philip laing |
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Designation : |
Lrgal
Counsel BG
India |
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Name : |
Mr. Alasdair Mackenzie |
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Designation : |
Director,
Commercial BG
India |
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Name: |
Mr.
R. Suriyanarayana |
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Designation : |
Director,
HR BG
India |
BUSINESS DETAILS
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Line of Business : |
The
Company is lie in Exploration, Production, Development and Supply of existing
and emerging gas markets around the world. |
GENERAL INFORMATION
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Suppliers : |
v
Ankleshwar v
Bharuch v
Surat in south Gujarat |
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Customers : |
v
Domestic v
Commercial v
Industrial Customers |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
This
is a foreign company incorporated in Cayman Islands Around 2003.
GENERAL
OBSERVATIONS:
BG Exploration & Production India
Ltd. (BGEPIL)
With the purchase in 2002 of substantial
interests in offshore oil and gas fields in the Gulf of Cambay and north west
of Mumbai, BG India established itself as a major player in the exploration and
production sector in India.
The transaction gave BG India a 30 per
cent interest in the offshore Tapti gas field and the Panna/Mukta oil and gas
fields. The BG interest is vested in its subsidiary BG Exploration and
Production India Limited (BGEPIL). The other partners in the consortium are the
Indian Government’s Oil and Natural Gas Corporation Limited (ONGC) with a 40
per cent shareholding and Reliance Industries Limited, which holds the
remaining 30 per cent.
The new assets are proving a valuable
fit with the company’s growing onshore transmission and distribution businesses
and the company is keen to unlock their full potential.
The Panna/Mukta fields lie approximately
95 kilometers (km) north west of Mumbai in water depths of 45 to 70 meters. The
two licence areas cover around 300,000 acres. The Panna Field is estimated to
have original oil in place of one billion barrels and original gas in place of
1.9 trillion cubic feet (tcf). The Tapti contract area is approximately 160 km
north west of Mumbai and amounts to some 363,500 acres, comprising the South
and Mid Tapti gas fields. Tapti has estimated gas in place of 3.75 tcf.
In 2004, total production from the
Panna/Mukta and Tapti fields was around 29 million barrels of oil equivalent
(mmboe).
In November 2004, the Indian Government
allowed the JV partners to directly sell gas to customers rather than to the
Government nominee. The move, which came into effect on 1 April 2005, was seen
as good news for the industry and a shift towards further liberalization in the
supply of gas in the country.
BGEPIL and its partners are using
advanced drilling techniques and innovative technology to realise the full
potential of the fields. A two-stage expansion programme is currently under way
which will enable output from the Tapti gas field to be doubled and will
enhance and extend production in the other areas.
The first stage of the expansion
programme involves infill drilling of up to 18 wells in Panna/Mukta and a four
well recompilation exercise in Tapti. In February 2004, the Ensco 50 jack up
drilling rig came on hire for the South Tapti workovers and the Panna infill
drilling campaign. The rig completed three workovers on the South Tapti B
platform before moving to Panna, where a total of six multi-branch horizontal
wells were drilled in 2004.
Government approval has been received
for the installation of two wellhead platforms in the Panna field and the
drilling of 11 firm wells. This is expected to result in gross incremental
reserves of approximately 17 million barrels of oil and 74 billion cubic feet
(bcf) of gas. First production is expected in mid 2006.The new platforms will
be designed to allow future infill drilling, which could further extend the
economic life of the Panna field.
Further expansion in South Tapti will
see five new wells drilled in 2006 while plans for Mid Tapti include eight
wells and a Mid Tapti wellhead platform to be installed in 2007. In the fourth
quarter of 2004, new compression facilities in the South Tapti field came on
line. This marked the end of five months of activity involving 15 different
contractors and up to 220 personnel during peak periods.
BGEPIL was involved in bidding for two
deepwater exploration blocks as part of the New Exploration and Licensing
Policy (NELP) IV bidding round in 2003 and one deepwater exploration block as
part of NELP V, and continues to evaluate exploration and production
opportunities, both onshore and offshore, with a view to further developing its
upstream portfolio in India.
About BG India:
Natural
gas is becoming the fuel of choice in a world increasingly concerned with the
environmental impact of its energy consumption – and India is no exception.
Demand
for natural gas in India is expected to more than double over the next two
decades, rising to 13,700 million standard cubic feet per day (mmscfd) by 2025.
With
its natural gas industry expertise, BG India is well placed to make a
significant contribution to the country’s future energy needs.
KEY
DATES
1995 Formation of
Mahanagar Gas Ltd – joint venture with the Gas Authority of India Ltd (GAIL)
1997 BG acquires majority
interest in Gujarat Gas Company Limited
2000 GGCL commissions 73
km Hazira-Ankleshwar transmission pipeline
2002 BG acquires 30%
interest in Panna, Mukta and Tapti fields
BG India’s exploration and production assets include a 30 per cent interest in the Tapti gas field and the Panna/Mukta oil and gas fields. Significant investment is planned for further development in the fields.
Partners (%) Panna/Mukta and Tapti
fields
30
BG
30 Reliance Industries Limited
40 ONGC
BG
India has a 65.12 per cent controlling stake in Gujarat Gas Company Limited,
which supplies natural gas to the cities of Ankleshwar, Bharuch and Surat in
south Gujarat.
BG
India also has a 49.75 per cent stake in Mahanagar Gas Limited, which is
developing a natural gas distribution system in Mumbai. Both companies deliver
piped natural gas to domestic, commercial and industrial customers as well as
compressed natural gas (CNG) for natural gas vehicles.
BG International Contacts
Select country:
Argentina
Carlos Pellegrini 1141
Piso 10
1009 - Buenos Aires
Argentina
Tel: 5411 6313-3100
Fax: 5411 6313-3149
Bolivia
BG Bolivia Corporation,
Sucursal Bolivia H Cuarto Anillo,
entre Av. Roca y Coronado y Av.
El Palmar
Santa Cruz de la Sierra,
Bolivia
Tel: 591 3 355 0000
Fax: 591 3 355 1000
Brazil
Rio de Janeiro
BG do Brasil Ltda.
Rua Lauro Muller, 116, group 1702
22290-160 - Rio de Janeiro - RJ
Brasil
Tel: 55 21 3820-8000
Fax: 55 21 3820-8092
São Paulo
BG do Brasil Ltda.
Av. das Nações Unidas, 12551, 14th Floor, Brooklin Novo
04578-903 - São Paulo - SP
Brasil
Tel: 55 11 5509-3600
Fax: 55 11 5509-3601
Canada
BG Canada
7th Floor, 150 - 6th Avenue S.W.
Calgary, Alberta
T2P 3Y7
Canada
Tel: 1 403 538 7400
Fax: 1 403 538 7500
Egypt
Building 23,
Road 216,
Digla,
Maadi,
Cairo,
Egypt
Tel: 202 519 7227
Fax: 202 519 7577
India
British Gas India Pvt. Ltd.,
3rd Floor, Tower B, First India Place,
Sushant Lok - I,
Mehrauli - Gurgaon Road,
Gurgaon,
Delhi,
India
E-Mail: bgindiainfo@bg-group.com
Tel: 91 124 256 0235
Fax: 91 124 236 4069
Israel
Gev
Yam Building
3 Maskit Street
P.O. Box 12813
Herzlia Pituach 46733
Israel
Tel: 972-9-958 5770
Fax: 972-9-951 8820
Italy
Piazza Cavour 2,
20121
Milano,
Italy
Tel: 39 02 777 94 1
Fax: 39 02 777 94 440
Kazakhstan
15th floor,
Astana Towers Business center
Samal microdistrict
Astana, 473000
Kazakhstan
Tel: 7 (3172) 59 11 11
Fax: 7 (3172) 59 18 35
Malaysia
Lot 11.01, 11th Floor,
Menara Promet,
Jalan Sultan Ismail,
50250
Kuala Lumpur,
Malaysia
Tel: 6 03 2144 0868
Fax: 6 03 2144 9668
Middle East
No. 6 Kish Street
Jahan-e Koodak Junction
Africa Expressway
Tehran 15188
Iran
Tel: 9821 8888 1876-7
Fax: 9821 8877 2356
E-Mail: soheila.kowsar@bg-group.com
Netherlands
Wilhelminatoren,
Wilhelminaplein 14,
3072 DE Rotterdam,
Netherlands
Tel: 31 10 290 6580
Fax: 31 10 290 6581
Norway
BG Norge Limited,
Løkkeveien 103b,
4007 Stavanger
Norway
Tel: (47) 51 20
59 00
Fax: (47) 51 20 59 90
Email: bgnorge@bg-group.com
Area
of Palestine Authority
BG
Great Britain Ltd,
Ramallah,
Sun Rise Building,
Al Irsal Street
Tel: 972 2 296 5333/4
Fax: 972 2 296 5337
Philippines
29A/B 29th Floor Wynsum Corporate Plaza,
#22 Emerald Avenue,
Ortigas Center,
Pasig City,
1605 Philippines.
Tel: 63 2 631 1424
Fax: 63 2 631 1361
Scotland
BG Group plc
6 Albyn Grove
Aberdeen
SCOTLAND
AB10 6SQ
Tel: 44 (0)1224 202020
Fax: 44 (0)1224 202099
Singapore
83 Clemenceau Avenue,
#14-08 UE Square,
Shell House,
Singapore
Tel: 65 6738 7077
Fax: 65 6738 6811
Thailand
321B, 21st Floor, SCB Park
Plaza,
Tower III East,
19 Ratchadapisek Road,
Ladyao,
Chatuchak
Bangkok 10900,
Thailand
Tel: 66 2 937 9280
Fax: 66 2 937 9291/2
Trinidad & Tobago
BG House
5 St Clair Avenue
Port of Spain
Trinidad & Tobago
Tel: 1 868 628 0888
Tunisia
Les Burges du Lac,
Immeuble Ben Abdallah,
Lotissement El Khalij,
2045 Tunis,
Tunisia,
BP 153,
BL 1002
Tel: 216 71 108 300
Fax: 216 71 961 589
United Kindom
Head office:
BG Group plc
Thames Valley Park
Reading,
Berkshire,
RG6 1PT
United Kingdom
E-Mail: Box.info@bg-group.com
Tel: 44 (0) 118 935 3222
Fax: 44 (0) 118 935 3484
Aberdeen office:
BG Group plc
6 Albyn Grove
Aberdeen
SCOTLAND
AB10 6SQ
Tel: 44 (0)1224 202020
Fax: 44 (0)1224 202099
USA
BG LNG Services Inc,
Suite 1775
5444 Westheimer,
Houston,
Texas, 77056
Tel: 1 713 403 3741
Fax: 1 713 403 3781
ONGC and BG India Strengthen Relationship
December 02, 2005
Oil and Natural Gas Corporation Ltd. (ONGC) and BG
Exploration and Production India Limited (BGEPIL) announced today that they
have reached agreement to jointly operate three offshore deepwater exploration
blocks on the east coast of India.
The blocks, KG-OS-DW III (“GD”), KG-OS-DW (“KD”)
and KG-OS-DW (“KD Extn”), are located in the Krishna Godavari Basin, and in the
vicinity of several blocks in which there have been recent discoveries. These
three blocks cover a total area of 3,090 square kilometres. Subject to agreeing
farm-in arrangements and Government approval, BGEPIL and ONGC will each own a
50 per cent interest in these blocks.
The deepwater exploration blocks were assigned to
ONGC by the Government of India on a nomination basis and on New Exploration
Licencing Policy (NELP) terms for exploration and development in partnership
with a global major oil and gas company. ONGC had marketed these blocks during
NELP-V with the Ministry of Petroleum & Natural Gas.
BGEPIL has agreed to pay a US$5 million up front
payment for each block upon receipt of Government approval of the farm-in, and
additional consideration will be paid towards exploration costs as well as a
payment made upon discovery.
ONGC and BG India have also agreed to explore
other mutually beneficial opportunities in India and overseas.
Announcing the agreement at the World Oil &
Gas Assembly in Jaipur, Mr Subir Raha, Chairman and Managing Director, Oil and
Natural Gas Corporation Ltd, said: “ONGC is happy to welcome BG, after Cairn
and Eni, as joint operator in these exploration blocks. We are happy that the
joint operatorship framework promoted by ONGC in the Panna, Mukta and Tapti
producing fields has generated the confidence for such a partnership in India
and abroad.”
Frank Chapman, Chief Executive, BG Group plc,
said: “This arrangement marks the beginning of BG India’s diversification of
its upstream portfolio from current interests in producing fields on the west
coast of India to a new growing hydrocarbon region on the east coast. The
Krishna Godavari Basin looks set to become an important gas province for India
and we are committed to playing a part in its development. We also look forward
to working in closer partnership with ONGC and strengthening our existing
relationship with them.”
BGEPIL and ONGC are partners with Reliance
Industries in the offshore Panna/Mukta and Tapti joint venture on the west
coast of Mumbai.
BG Group
BG Group is a rapidly growing company in the global energy market
with operations in more than 20 countries on
five continents. The Group’s principal activities lie in
exploration and production and the development and supply of existing and
emerging gas markets around the world.
BG Group combines a deep understanding of gas markets with
industry leading skills in finding and commercialising gas and in project
delivery. This enables the company to access competitively priced resources and
bring them to market quickly and cost effectively.
Gas discoveries often require complex chains of physical
infrastructure to deliver the gas to markets. BG Group has proven skills and
experience in creating value from these chains. The company operates in four
main business segments: exploration and production (E&P); Liquefied Natural
Gas (LNG); transmission and distribution (T&D); and
power generation.
The benefits of natural gas over other fossil fuels are well
known. Natural gas is a relatively clean fossil fuel and can
replace less environmentally friendly energy sources. It is
competitively priced, plentiful and offers geographical diversity of supply.
BG Group has identified four key drivers which will underpin its
future long-term growth. These are:
• strong asset base with built-in growth;
• incremental investments around existing asset base;
• connecting assets to enhance value; and
• new opportunities that give extra impetus to the existing asset
base.
As a leader in the gas supply industry, BG Group seeks to maintain
a deep understanding of current gas demand and market trends. The company also
aims to balance its activities between major developed markets and selected
developing markets, and is building a portfolio of assets which are
increasingly connected and complementary to one another. This integrated
approach enables it to move swiftly to take advantage of new opportunities as
they
arise. Among developing economies, the Group has focused on India
and Brazil, in particular, as markets with significant potential for growth in
gas usage.
In 2004, BG Group
reported another year of strong performance across its operating segments, with
total operating,
BG Group Financial Results:
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Group Turnover |
Total Operating
Profit/(Loss) (a) |
|||
|
|
2004 |
2003 |
2004 |
2003 |
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Exploration And Production |
2153 |
1794 |
1204 |
959 |
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Liquefied Natural Gas |
1098 |
945 |
94 |
77 |
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Transmission and
Distribution |
644 |
678 |
134 |
116 |
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Power Generation |
201 |
184 |
121 |
129 |
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Other Activities |
8 |
3 |
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Less: intra-group Sales |
(22) |
(17) |
(31) |
(30) |
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TOTAL: |
4082 |
3587 |
1522 |
1251 |
|
(a) Total operating profit
/(loss) includes the group’s share of operating profits less losses in joint
ventures and associated undertakings.
BG India
India’s sustained economic growth continues to drive an appetite
for energy which BG India is well positioned to help
meet through its expanding upstream and downstream assets.
Since 1995, when it helped form Mahanagar Gas Limited (MGL) in
Mumbai, BG India has become a key private sector player in the natural gas
industry in India. The company is committed to playing an expanding role in the
market by consolidating and further developing its businesses both on and
offshore.
This commitment is underwritten by BG India’s parent company, BG
Group, which has identified India as a principal target market due to its
anticipated energy needs – demand for natural gas in India is expected to more
than double
over the next two decades to approximately 13,700 million standard
cubic feet per day (mmscfd) in 2025.
In a major review of its business strategy in February 2004, BG
Group made clear its commitment to substantial further investment to grow BG
India’s exploration and production (E&P) and transmission and distribution
(T&D) businesses.
BG India’s upstream assets lie in a 30 per cent interest in the
Panna/Mukta oil and gas fields and the Tapti gas field (PMT) which were
acquired in 2002. Since acquisition of these assets, committed investment by
the joint venture – BG,
Operating Environment
The natural gas industry in India is in a state of structural
transition and on the threshold of at least two decades of rapid growth.
Current estimates anticipate that natural gas will grow from eight per cent to
20 per cent of the country’s fuel mix by 2025.
These dynamics make it imperative that a level playing field be
created for both public and private sectors and that issues of regulation and
governance be successfully resolved. This will ensure continued investment in
the industry so that the benefits of natural gas can reach more and more
consumers.
In 2004, BG India became a founder member of the Gas Industry
Group (GIG), an informal grouping of investors and stakeholders as well as
consumers in the natural gas industry in India. Many of the members have
considerable natural gas experience and expertise and can draw upon
international knowledge of regulatory best practice.
The GIG seeks to work with the Government of India to secure an
optimal natural gas operating regime to promote industry growth. This is of
particular relevance in the wake of the Supreme Court judgment of 2004, which
stated that the Centre has exclusive jurisdiction over natural gas in the
country.
In order to attract investment to the sector and benefit
consumers, the operating regime should, in the GIG’s view, be consistent with
global standards and practices. This applies particularly to maintaining the
independence of the regulatory regime, adopting clear and transparent operating
rules, and promoting competition.
The GIG has already commented on the Petroleum and Natural Gas
Regulatory Board Bill, and the Draft Pipeline Policy. On the Bill, the GIG
raised concerns on issues of investment risk, the independence of the
Regulator, the potential for conflict between Central and state government
interests, tariff regulation and conditions of access to pipelines. The GIG has
called for separation of natural gas and petroleum products regulation as each
is at a different stage of development in India.
BG India endorses the GIG’s view that light-handed gas regulation
will promote demand growth and infrastructure investment. A level playing field
approach will also provide a stable fiscal and legal framework and encourage
new market entrants.
Transparent and principled tariff regulation is also an essential
requirement for a successful pipeline policy. In regard to the Draft Pipeline
Policy, the GIG is of the view that the proposed mandatory 25 per cent excess
capacity is inefficient, will increase tariff rates and has the potential to
strand unused assets. To attract investment, the GIG supports contract carriage
for gas transmission, which allows capacity to be built according to demand.
The GIG believes that the right of government to take profit gas
in kind is erroneous as it will restrict the marketing rights of contractors
and result in them being unable to commit definite volumes to customers.
Among positive developments, BG India welcomed comments by Dr
Manmohan Singh, Prime Minister of the Congress-led
BG
Exploration and Production India Limited (BGEPIL)
Since BG’s acquisition of 30 per cent interests in the Tapti gas
field and the Panna/Mukta oil and gas fields in February 2002, committed
investment by the joint venture – BG, ONGC and Reliance, amounts to more than
US$900 million.
Production activity during 2004 focused on increasing output from
the South Tapti gas field and initiating the first steps in the programme to
fully develop the substantial extra resources the joint venture partners
believe are present in the Panna/Mukta and Tapti (PMT) fields.
A two-stage expansion programme got under way in 2004 with the aim
of doubling output from the Tapti gas field and enhancing production in other
fields.
The first stage of the expansion programme involves infill-drilling
of up to 18 wells in Panna/Mukta and a four well recompletion exercise in
Tapti. In February 2004, the Ensco 50 jack up drilling rig came on hire for the
South Tapti workovers and the Panna infill drilling campaign. The rig completed
three workovers on the South Tapti B platform before moving to Panna, where a
total of six multi-branch horizontal wells were drilled in 2004.
Government approval has been received for the installation of two
wellhead platforms in the Panna field and the drilling of 11 firm wells. This
is expected to result in gross incremental reserves of approximately 17 million
barrels of oil and 74 billion cubic feet (bcf) of gas.
First production is expected in mid 2006. Contracts have been
awarded to Clough Projects International of Australia for construction of the
two Panna platforms and a wellhead platform for South Tapti.
Further expansion in South Tapti will see five new wells drilled
in 2006 while plans for Mid Tapti include eight wells and a Mid Tapti wellhead
platform to be installed in 2007.
In the fourth quarter of 2004, new compression facilities in the
South Tapti field came on line. This marked the end of five months of activity
involving 15 different contractors and up to 220 personnel during peak periods.
In addition to installation of a new cantilevered deck extension, control room
and other equipment associated with the compressors, the project also replaced
internal components in a number of vessels to enable processing of the
increased volume of gas at lower pressures. In total, some 350 tonnes of steel
were added to the existing platforms.
The US$16 million project has debottlenecked the facilities,
allowing maximum use of the existing platform equipment and the 18-inch export
line to transport gas and condensate onshore. As a result, gas production has
increased as planned from 180 million standard cubic feet per day (mmscfd) to
250 mmscfd.
In November 2004, the joint venture partners welcomed the decision
by the Indian Government to allow PMT gas to be sold for the first time
directly tocustomers rather than to the Government nominee. The move, which
came into effect on 1 April 2005, was seen as good news for the industry and a
shift towards further liberalisation in the supply of gas in the country.
In addition to developing the full potential of its current
resources, BG is actively seeking further opportunities to find new gas
reserves. The company remains willing to consider participating as a
development partner in suitable projects and to assess the acreage offered
under the New Exploration Licensing Policy. A key factor in the BGEPIL approach
to safe working has
BRITISH GAS INDIA PRIVATE LIMITED
3rd Floor, Tower B, First India Place, Sushant Lok – I,
Mehrauli -Gurgaon Road,
Gurgaon – 122 002
TEL NO.: 91-124-2356991-95
FAX NO.:
91-1242364069/ 2560241
EMAIL: bgindiainfo@bg-group.com
GUJARAT GAS
COMPANY LIMITED
Ahmedabad
Corporate Office, 2 Shanti Sadan
Society, Near Parimal Garden, Ellisbridge
Ahmedabad – 380
006
TEL NO.: 91-79-26462980/ 26460095/ 26467876
FAX NO.:
91-79-26466249
EMAIL: contactggcl@gujaratgas.com
MAHANAGAR GAS LIMITED
MGL House, Block G-33, Opp. ICICI Tower, Bandra –
Kurla Complex, Bandra (East)
TEL NO.: 91-2256785000
FAX NO.: 91-2226540092
BG EXPLORATION AND PRODUCTION INDIA LIMITED (BGEPIL)
1st Floor, Midas, Sahar Plaza, Kondivita,
M. V. Road, Andheri (East), Mumbai – 400 059
TEL NO.: 91-2256435000
FAX
NO.: 91-2228395201
IQARA TELECOMS INDIA PRIVATE LIMITED
Ground
Floor, Building No. 1-C, Nirlon Complex, Off Western Express Highway, Goregaon
(East), Mumbai – 400 063
TEL NO.: 91-2226850999/56477100
FAX NO.:
91-2226850998
EMAIL: feedback@in.iqara.net
BG INDIA ENERGY SERVICES PRIVATE LIMITED
102, Empire State Building, Ring Road, Surat – 395
002
TEL/ FAX No,: 91-261-2343239-40
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.05 |
|
UK
Pound |
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.57.98 |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |