MIRA INFORM REPORT

 

 

Report Date :

25.06.2007

 

IDENTIFICATION DETAILS

 

Name :

PASCHIMANCHAL VIDYUT VITRAN NIGAM  LIMITED

 

 

Registered Office :

Hydel Inspection House, Hydel Colony, Victoria Park, Meerut, Uttar Pradesh

 

 

Country :

India

 

 

Date of Incorporation :

01.05.2003

 

 

Com. Reg. No.:

27458

 

 

CIN No.:

[Company Identification No.]

U31200UP2003SGC027458

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MRTP00773D

 

 

Legal Form :

A Public Limited Liability Company. The company’s entire equity is held by Uttar Pradesh State Government.

 

 

Line of Business :

Distribution of power

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

 

 

Payment Behaviour :

Slow and Delayed

 

 

Litigation :

Exist

 

 

Comments :

Subject is Uttar Pradesh Government owned power distribution company. It is poor in corporate governance. It’s payment are bad. It would be prudent to deal with the company on safe and secured trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

Hydel Inspection House, Hydel Colony, Victoria Park, Meerut, Uttar Pradesh, India.

 

 

E mail id:

Pvvnlhq_mrt@yahoo.com

 

 

BUSINESS DETAILS

 

Line of Business :

Distribution of power

 

 

GENERAL INFORMATION

 

No. of Employees :

The company employees several thousand people

 

 

Bankers :

State Bank of India, Meerut

 

Banking Relations :

Unknown

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

600000000

Equity shares

Rs. 10/- each

Rs. 6000.000 millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

540050000

Equity shares

Rs. 10/- each

Rs. 5400.500 millions

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Note :

 

The company is poor in corporate governance and no financials are available from Registry.

Management remained non-corporative during current investigation. management poor in corporate Government and no financhials are available from Registry.

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

History:

 

Subject is the successor to Uttar Pradesh Power Corporation Limited for distribution of power in western U.P. It started functioning in the month of July, 2003 with Mr.Awanish Kumar Awasthi as the Managing Director. The geographical coverage of the newly formed company extends to the districts of Saharanpur , Muzaffarnagar, Bijnor, Meerut , Baghpat, Ghaziabad , Bulandshahar, Jyotiba Phule Nagar, Moradabad , Rampur, and Gautam Budh Nagar, with headquarters at Meerut. In terms of revenue collection, PVVNL is a Rupees 170 Billion plus (Financial Year 2002-03) company. After its inception in July, 2003 the company has improved its revenues by over 17% up to November, 2003 as compared to the corresponding period last year. Paschimanchal Vidyut Vitaran Nigam Limited is committed for better consumer service, more revenue realization and electricity supply of good quality.

 

 

As Per Website Details:

 

 

 

 

PVVNL Head Office, Meerut

-        - EUDC, Noida

-          -Stores Circle, Meerut

 

·                                       ·        Zonal Office, Meerut

-                                                      -          EUDC, Meerut

-                                                      -          EDC, Meerut

-                                                      -          EDC, Bulandshahar

-                                                      -          EUDC, Ghaziabad

-                                                      -          EDC, Ghaziabad

-                                                      -          Works Circle, Meerut

·                                       ·        Zonal Office, Saharanpur

-                                                      -          EUDC, Saharanpur

-                                                      -          EUDC, Muzaffarnagar

-                                                      -          EDC, Muzaffarnagar

 

·                                       ·        Zonal Office, Moradabad

-                                                      -          EUDC, Moradabad

-                                                      -          EDC, Moradabad

-                                                      -          EDC, Amroha

-                                                      -          EDC, Bijnor

-                                                      -          EDC, Rampur

 

 

PVVNL, Head Office, Meerut

Unit

Name

Designation

Office Phone

Head Office

Awanish Kumar Awasthi

Managing Director

2665734

Head Office

P.K.Johri

Dgm (Accounts)

2647443

Head Office

S.K.Sharma

Dgm (Headquarters)

2666161

Head Office

P.K.Singh

Dgm (Raids)

2666161

Head Office

Shree Krishna

Exec. Engg.(Comm.)

2645838

Head Office

J.K.Jain

Exec. Engg.(Technical)

2645838

Head Office

Siyanand Tyagi

Dgm (Energy)

2645838

Head Office

V.K.Singh

Exec. Engg.

2645838

Head Office

S.K.Goyal

Exec. Engg.

2645838

Head Office

Rajendra Kumar

Exec. Engg.(Technical)

2642114

Head Office

S.K.Gupta

Exec. Engg.(Technical)

2642114

Head Office

Anil Prakash

Exec. Engg.(Civil)

 

Head Office

F.A.Khan

Senior Personal Officer

2666161

Head Office

Computer Room

 

2649042

 

 

EUDC, Noida

Unit

Name

Designation

Office Phone

EUDC Noida

B.B.Singh

Dgm

2510738

EUDC Noida

A.K.Jain

Exec.Engg

2510738

EUDD I Noida

B.P.S.Chauhan

Exec.Engg

2513638

EUDD Ii Noida

S.N.Yadav

Exec.Engg

2513988

EUDD Iii Noida

 

Exec.Engg

2511558

Test Div Noida

M.M.Aggrawal

Exec.Engg

2512899

 

 

Stores Circle, Meerut    

Unit

Name

Designation

Office Phone

Stores Circle, Meerut

S.R.Singh

Dgm

2766390

Stores Circle, Meerut

Ramesh Chandra

Exec.Engg. Attached

2766390

Stores Division, Meerut

H.B.Arora

Exec.Engg

2766454

Stores Div. Ghaziabad

J.M.Lal

Exec.Engg

2767857

Stores Div. Moradabad

A.K.Bansal

Exec.Engg

2481153

Stores Div. Saharanpur

A.P.Singh

Exec.Engg

 

 

 

Zonal Office, Meerut      

Unit

Name

Designation

Office Phone

GM Office,Meerut

T.L.Jain

GM

2645727

GM Office,Meerut

Arjun Singh

Dgm

2657610

GM Office,Meerut

R.S.Kadiyan

Dgm

2644449

GM Office,Meerut

Rohitash Kumar

Exec. Engg.

2644449

GM Office,Meerut

A.K.Wadhera

Exec. Engg.

2644449

GM Office,Meerut

P.S.Gupta

Exec. Engg.

2644449

GM Office,Meerut

Satish Kumar

Exec. Engg.

2644449

GM Office,Meerut

Y.D.Sharma

Exec. Engg.

2644449

GM Office,Meerut

Rajendra Kr Garg

Exec. Engg.

 

GM Office,Meerut

S.K.Sharma

Exec. Engg.(Cbsc)

2644762

GM Office,Meerut

S.K.Sharma

Accounts

2646368

 

 

EUDC-Meerut   

Unit

Name

Designation

Office Phone

EUDC,Meerut

Rajeshwar Dayal

Dgm

2766065

EUDC,Meerut

Rakesh Kumar

Exec.Engg. Attached

2766065

EUDC,Meerut

S.K.Singh

Exec.Engg. Attached

2766065

EUDC,Meerut

V.K.Mittal

Exec.Engg. Attached

2766065

EUDD I Meerut

G.K.Pandey

Exec.Engg.

2530799

EUDD Ii Meerut

A.S.Tyagi

Exec.Engg.

2655354

EUDD Iii Meerut

S.C.Mathur

Exec.Engg.

2760418

Urban Test Div Meerut

D.K. Arora

Exec.Engg.

2527230

EUDC

R.K.Tyagi

Exec.Engg. Ncr

2766065

 

 

EDC-Meerut

Unit

Name

Designation

Office Phone

EDC Meerut

Shree Kant Prasad

Dgm

2643960

EDC Meerut

A.K.Sharma

Exec Engg. Attached

2643960

EDC Meerut

G.C.Jain

Exec Engg Attached

2643960

EDD I Meerut

K.P.Singh

Exec.Engg.

2645978

EDD Ii Meerut

Narendra Singh

Exec.Engg.

2645405

EDD Baraut

S.K.Maheshwari

Exec.Engg.

262245

EDD Bagpat

Naresh Kumar

Exec.Engg.

221050

EDD Mawana

A.K.Singh

Exec.Engg.

271110

Test Div Meerut

N.C.Mittal

Exec.Engg.

2657686

 

 

EDC-Bulandshahar

Unit

Name

Designation

Office Phone

EDC Bulandshahar

Ramesh Chandra

Dgm

225581

EDC Bulandshahar

D.K.Gupta

Exec.Engg Attached

225581

EDC Bulandshahar

R.N.Bansal

Account

225581

EDD I Bulandshahar

R.K.Gupta

Exec.Engg.

235527

EDD I Bulandshahar

J.P.Verma

Exec.Engg. Revenue

235527

EDD Ii Bulandshahar

Harender Singh

Exec.Engg.

225507

EDD Iii Bulandshahar

A.K.Goyal

Exec.Engg.

235597

EDD Khurja

B.Singh

Exec.Engg.

242288

Test Div Bulandshahar

Yogeshwar Goyal

Exec.Engg.

254449

 

 

EUDC-Ghaziabad

Unit

Name

Designation

Office Phone

EUDC Ghaziabad

P.K.Goyal

Dgm

2713729

EUDC Ghaziabad

Pradeep Kumar

Exec.Engg. Attached

2713729

EUDC Ghaziabad

R.K.Tayal

Exec.Engg. Attached

2713729

Eudd I Ghaziabad

O.P.Tomar

Exec.Engg.

2711427

Eudd Ii Ghaziabad

S.C.Goyal

Exec.Engg.

2882356

Eudd Iii Ghaziabad

Vijay Kumar

Exec.Engg.

2721200

Test Div I Ghaziabad

A.K.Agarwal

Exec.Engg.

2766817

Test Div Ii Ghaziabad

O.P.Sharma

Exec.Engg.

2766817

Eucd Ghaziabad

Om Prakash

Exec.Engg.

 

 

EDC - Ghaziabad

Unit

Name

Designation

Office Phone

EDC Ghaziabad

G.R.Sethiya

Dgm

2700159

EDC Ghaziabad

R.K.Garg

Exec.Engg. Attached

2700159

EDD Ii Ghaziabad

P.K.Saxena

Exec.Engg.

2702691

EDD Ii Ghaziabad

Har Prasad

Exec.Engg. Revenue

2702691

EDD Modinagar

A.K.Kansal

Exec.Engg.

242238

EDD Modinagar

B.K.Sharma

Exec.Engg. Revenue

242238

EDD Hapur

V.K.Jain

Exec.Engg.

2316906

EDD Hapur

R.K.Singh

Exec.Engg.

2316906

Test Div Ghaziabad

A.K.Srivastava

Exec.Engg.

2871376

 

 

Works Circle, Meerut    

Unit

Name

Designation

Office Phone

Works Circle, Meerut

B.K.Agarwal

Dgm

2763715

Works Div., Meerut

Jagmal Singh

Exec Engg

2760524

Workshop Div., Meerut

G.M.Gupta

Exec.Engg

2763593

 

 

Zonal Office, Saharanpur

Unit

Name

Designation

Office Phone

GM Office Saharanpur

Nand Lal

GM

2765933

GM Office Saharanpur

R.S.Aggrawal

Dgm

2763601

GM Office Saharanpur

S.C.Arora

Exec.Engg. Attached

2765601

GM Office Saharanpur

Jitendra Kaushik

Exec.Engg. Attached

2765601

GM Office Saharanpur

L.K.Gupta

Accounts

2765232

 

 

EUDC-Saharanpur

Unit

Name

Designation

Office Phone

EUDC Saharanpur

Hari Mohan

Dgm

2726881

EUDC Saharanpur

R.D.Singhal

Exec.Engg. Attached

2726881

Eudd I Saharanpur

V.P.Gupta

Exec.Engg.

2726843

Eudd Ii Saharanpur

Ratan Pal

Exec.Engg.

2726664

EDD I Saharanpur

Darshan Lal

Exec.Engg.

2727098

EDD I Saharanpur

Darshan Lal

Exec.Engg. Revenue

2727098

EDD Ii Saharanpur

A.K.Gupta

Exec.Engg.

2761460

Test Div.  Saharanpur

Atul  Tayal

Exec.Engg

2726535

 

 

EUDC-Muzaffarnagar

Unit

Name

Designation

Office Phone

EUDC Muzaffarnagar

Lokesh Chandra

Dgm

2621135

EUDC Muzaffarnagar

K.K.Jain

Exec.Engg. Attached

2621135

Eudd I Muzaffarnagar

O.P.Jain

Exec.Engg

2407944

Eudd Ii Muzaffarnagar

O.P.S.Tomar

Exec.Engg

2408531

Test Div Muzaffarnagar

J.L.Jain

Exec.Engg

2468023

 

 

EDC-Muzaffarnagar

Unit

Name

Designation

Office Phone

EDC Muzaffarnagar       

A.K.Gupta

Dgm

2620022

EDD Muzaffarnagar

B.K.Aggarwal

Exec.Engg

2408018

EDD I Shamli

D.K.Tyagi

Exec.Engg

250244

EDD Ii Shamli

S.K.Jain

Exec.Engg

250168

Test Div Muzaffarnagar

Mayank Singhal

Exec.Engg

2408175

 

 

Zonal Office, Moradabad

Unit

Name

Designation

Office Phone

GM Office Moradabad

M.P.Singh

GM

2480682

GM Office Moradabad

R.C.Jain

Exec.Engg

2480332

GM Office Moradabad

Karan Singh

Exec.Engg

2481798

GM Office Moradabad

D.K.Chaturvedi

Personal Officer

2480332

GM Office Moradabad

P.K.Gupta

Dcao

2484537

Cbsc Moradabad

T.S.Solanki

Exec.Engg

2480332

 

 

EUDC-Moradabad

Unit

Name

Designation

Office Phone

EUDC Moradabad

D.S.Dagur

Dgm

2435192

Eudd I Moradabad

Pradeep Tondon

Exec.Engg

2412018

Eudd Ii Moradabad

S.P.Goyal

Exec.Engg

2412862

Test Div Moradabad

S.P.Singh

Exec.Engg

2435534

 

 

EDC-Moradabad

Unit

Name

Designation

Office Phone

EDC I Moradabad

R.P.Gupta

Dgm

2435207

EDC I Moradabad

V.P.Singh

Exec.Engg

2435207

EDD Moradabad

R.C.Sharma

Exec.Engg

2411308

EDD Chandaushi

A.K.Mittal

Exec.Engg

250248

Test Div Moradabad

H.C.Gupta

Exec.Engg

2418473

 

 

EDC-Amroha

Unit

Name

Designation

Office Phone

EDC Amroha

R.P.Singh

Dgm

2410712

EDD Gajraula

A.K.Gupta

Exec.Engg

252657

EDD Amroha

A.N.Shukla

Exec.Engg

250075

Test Div Amroha

S.U.Khan

Exec.Engg

2419082

 

 

 

EDC-Bijnor

Unit

Name

Designation

Office Phone

EDC Bijnor

R.K.Kashyap

Dgm

250332

EDC Bijnor

Gyan Prakash

Exec.Engg Attached

250332

EDCbijnor

R.C.Sagar

Exec.Engg Attached

250332

EDD Bijnor

Ramesh  Chandra

Exec.Engg

262615

EDD Nazibabad

K.L.Sharma

Exec.Engg

221656

EDD Chandpur

Kishan Singh

Exec.Engg

220549

EDD Dhampur

V.K.Gupta

Exec.Engg

230477

Test Div Bijnor

Harbaksh Singh

Exec.Engg

260490

 

 

EDC-Rampur

Unit

Name

Designation

Office Phone

EDC Rampur

S.N.Tayagi

Dgm

2351689

EDC Rampur

S.K.Aggrawal

Exec.Engg Attached

2351689

EDD I Rampur

B.P.Singh

Exec.Engg

2325536

EDD Ii Rampur

S.R.Arya

Exec.Engg

2351608

Test Div Rampur

Surendra Singh

Exec.Engg

2352924

 

 

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

Indian Rupees

US Dollar

1

Rs.40.71

UK Pound

1

Rs.81.24

Euro

1

Rs.54.63

 

 

 

 

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