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MIRA INFORM REPORT
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Report
Date : |
28.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
GO AIRLINES (INDIA) PRIVATE LIMITED |
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Registered
Office : |
Neville House J N Heredia Marg, Ballard Estate, Mumbai –
400001, Maharashtra |
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Country
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India |
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Financials
(as on) : |
31.10.2005 |
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Date
of Incorporation : |
29.04.2004 |
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Com.
Reg. No.: |
11-145991 |
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CIN
No.: [Company
Identification No.] |
U63013MH2004PTC145991 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
MUMG10184G |
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Legal
Form : |
Private limited liability company |
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Line
of Business : |
To offer quality
consistent, quality assured and time efficient product and service at
affordable fares |
RATING & COMMENTS
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MIRA’s
Rating : |
B |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum
Credit Limit : |
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Status
: |
New
Company |
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Payment
Behaviour : |
Usually
Correct |
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Litigation
: |
Clear |
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Comments
: |
Subject is a one more airline in highly competitive field.
It is promoted by Wadia Group, a well known industrial house having fine
track. They possess large means. Their trade relations are fair. Payments
records are not available. The company can be considered promising as a business
partner in medium to long-run. |
LOCATIONS
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Registered
Office : |
Neville
House J N Heredia Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
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Tel.
No. |
91-92232-22111 |
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E Mail
: |
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Website
: |
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Head
Office : |
Paper Box House,
Off Mahakali Caves Road, Andheri (E), Mumbai-400093, Maharashtra,
India |
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Tel.
No.: |
91-22-55410000 |
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Fax
No. : |
91-22-67410001 |
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E Mail
: |
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Airport
Office: |
Terminal
1 A, Domestic Airport, Sahar, Andheri, Mumbai-400099 |
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Tel.
No. : |
91-22-26156636 |
DIRECTORS
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Name : |
Mr. Jeh Nusli Wadia |
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Designation
: |
Managing Director |
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Address
: |
Beach House, P. Balumarg, Prabhadevi, Mumbai- 400025 |
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Date
of Birth : |
06.07.1973 |
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Date
of Appointment : |
29.04.2004 |
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Name : |
Mr. Ness Nusli Wadia |
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Designation
: |
Director |
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Address
: |
Beach House, P. Balumarg, Prabhadevi, Mumbai- 400025 |
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Date
of Appointment : |
29/04/2004 |
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Name : |
Mr. Nusli Nevile Wadia |
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Designation
: |
Director |
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Address
: |
Beach House, P. Balumarg, Prabhadevi, Mumbai- 400025 |
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Date
of Birth : |
15.02.1944 |
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Date
of Appointment : |
01/06/2004 |
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Other
Directorship : |
Bombay Dyring And Manufacturing Company Limited Chairman U99999MH9999PLC004037 Gherzi Eastern Limited Director U74220MH1960PTC011691 Bombay Burmah Trading Corporation Limited Chairman L99999MH1863PLC000002 Brigannia Industries Limited Chairman U15412WB1918PLC002964 Nowrosjee Wadia And Sons Limited Chairman And Managing Director U51900MH1944PLC004225 Tata Steel Limited Director L27100MH1907PLC000260 Tata Chemicals Limited Director L24239MH1939PLC002893 Atul Limited Director L99999GJ1975PLC002859 Wadia Bsn India Limited Chairman U74999MH2003PTC059856 Tata Motors Limited Director L28920MH1945PLC004520 Britannia New Zealand Foods Private Limited Chairman U15201MH2002PTC135164 |
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Name : |
Mr. Sukant Sadashiv Kelkar |
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Designation
: |
Director |
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Address
: |
1, Sindhula N. Gamadia Road, Mumbai – 400026, Maharashtra,
India |
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Date
of Birth : |
20.05.1939 |
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Date
of Appointment : |
01/06/2004 |
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Name : |
Mr. Vinita Bali |
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Designation
: |
Director |
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Address
: |
Flat No. 1104, Tulip Prestige Exotica, Cunningham Crescent
Road, Bangalore – 560052, Karnataka, India |
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Date
of Birth : |
11.11.1955 |
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Date
of Appointment : |
24.08.2006 |
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Other
Directorship : |
Britannia industries limited U15412wb1918plc002964 Managing director Britannia New Zealand Foods Private Limited Director U15201MH2002PTC135164 |
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Name : |
Mr. Ashok Panjwani |
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Designation
: |
Director |
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Address
: |
402, Diasylea Apartments, Mount Pleasant Road, Malabar
Hill, Mumbai – 400006 |
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Date
of Appointment : |
01/06/2004 |
KEY EXECUTIVES
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Name : |
Mr. Kiran Thacker |
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Designation
: |
Company Secretary |
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Address
: |
A-27, Anuja, Shimpoli Road, Borivali [West], Maharashtra,
India |
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Date
of Birth |
19.06.1958 |
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Date
of Appointment : |
07.12.2005 |
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Name : |
Mr. S. Rajesh |
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Designation
: |
Vice-President-Marketing & Sales |
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Name : |
Mr. Raju Srinivasan, |
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Designation
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Vice-President- Project Manajement |
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Name : |
Capt. V.K.Sharma |
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Designation
: |
Vice-President Flight Operations (Chief of Operations) |
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Name : |
Mr. Vivekanand Sadanand Heble |
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Designation
: |
Vice-President-IT |
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Name : |
Cheng-Lock Cheong Lucky |
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Designation
: |
Vice-President-Engineering |
BUSINESS DETAILS
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Line
of Business : |
To offer quality
consistent, quality assured and time efficient product and service at
affordable fares |
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Brand
Name : |
Goair |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr. Jeh Nusli Wadia |
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5000 |
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Mr. Ness Nusli Wadia |
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5000 |
GENERAL INFORMATION
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Bankers
: |
UTI Bank Limited Trishul 3rd Floor, Opposite Samartheshwar
Temple, Ahmedabad – 380006, Gujarat, India |
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Banking Relations : |
Satisfactory
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Auditors
: |
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Name : |
K. S.
Thar and Company Chartered
Accountants |
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Address : |
3, Golden
Palace, 191/192, Truner Road, Bandra, Mumbai – 400050, Maharashtra, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs. 10/-each |
Rs. 300.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs. 10/-each |
Rs. 300.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.10.2005 |
31.10.2004 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
|
300.000 |
30.000 |
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2] Share
Application Money |
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0.000 |
0.000 |
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3]
Reserves & Surplus |
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0.000 |
0.000 |
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4]
(Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
0.000 |
0.000 |
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LOAN
FUNDS |
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1]
Secured Loans |
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0.000 |
0.000 |
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2]
Unsecured Loans |
|
4.754 |
0.000 |
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TOTAL BORROWING |
|
4.754 |
0.000 |
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DEFERRED
TAX LIABILITIES |
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TOTAL |
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304.754 |
30.000 |
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APPLICATION
OF FUNDS |
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FIXED
ASSETS [Net Block] |
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172.460 |
2.392 |
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Capital
work-in-progress |
|
1.322 |
0.000 |
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INVESTMENT |
|
55.089 |
0.000 |
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DEFERREX
TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT
ASSETS, LOANS & ADVANCES |
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Inventories |
|
0.306 |
0.000 |
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Sundry
Debtors |
|
0.000 |
0.000 |
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Cash
& Bank Balances |
|
129.141 |
27.657 |
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Other
Current Assets |
|
0.902 |
0.027 |
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Loans
& Advances |
|
40.331 |
0.000 |
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Total Current Assets |
|
170.680 |
27.684 |
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Less : CURRENT LIABILITIES &
PROVISIONS |
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Current
Liabilities |
|
93.070 |
0.112 |
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|
Provisions |
|
1.762 |
0.000 |
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Total Current
Liabilities |
|
94.832 |
0.112 |
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Net Current Assets |
|
75.848 |
27.572 |
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MISCELLANEOUS
EXPENSES |
|
0.035 |
0.036 |
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TOTAL |
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304.754 |
30.000 |
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KEY RATIOS
|
PARTICULARS |
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|
31.10.2005 |
31.10.2004 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.00 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.80 |
247.18 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
About Us - Corporate information
The
Promoters
The Wadia Group has
been synonymous with leading Indian companies, through its brands Britannia and
Bombay Dyeing. The group has been forging value relationships with India's
people and has integrated their products into people's daily lives, for well
over a hundred years. Hence, the Company's recent foray into Aviation with
GoAir comes as no surprise.
The Company
GoAir - The People's
Airline - the brain child of Jeh Wadia, Managing Director, is looking at
'commoditizing air travel'. The airline is a low cost carrier and will endeavour
to offer airline seats at marginally higher train prices to all cities in
India, in a phased manner. With the captivating theme line - Experience The
Difference - the airline's main objective is to offers its passengers a quality
consistent, quality assured and time efficient product through affordable
fares. Our passengers will feel the difference on board our state-of-the-art
Airbus A320 aircraft fleet.
The Routes
GoAir's route network
spans prominent business and leisure destinations, across India. The route
network will provide a value for money option for both business and leisure
travellers, without compromising on either safety or service. Initially, the
airline will commence service from Mumbai, Ahmedabad, Goa and Coimbatore. These
routes were a rationale choice as they witness maximum amount of traffic during
the year. However, the airline will soon cover more routes like Bhavnagar,
Aurangabad, Kolhapur, Rajkot, Jammu, Bhopal, Madurai, Kozhikode among others,
at competitive prices in the coming months. Adding new destinations to
facilitate travel will be part of GoAir's aggressive strategy.
The Distribution Network
GoAir customers will
'Experience the Difference' right from the time of booking their tickets. Our
distribution network has been well-researched and after thorough evaluation of
the current mediums, we have introduced a gamut of options for our passengers
wherein our tickets are not just accessible but extremely convenient to one and
all. Our passengers who do not have the luxury of a credit or debit card or
even a Computer need not travel distances to book their GoAir tickets but can
access them from any of our distribution mediums that would include GoTravel
Agents, GoTata Indicom Outlets, GoInlott oulets, GoCyber café and GoPCOs. In
addition the customer can directly buy on our website, GoAirport Counters or at
the GoCustomer Care Center, contact nos: (from MTNL/BSNL : 1600-222-111) or
(from all phones : 09223-222-111).
The Fare Structure
With the objective of
commoditising air travel, GoAir's fares would be the most competitive and
affordable, thereby making the common man's dreams come true. With our target
audience being the Railway: First, Second and Third A/C passengers and Volvo
Bus Passengers, our fares will be 40% lower than that of traditional airlines
and on an average marginally higher than the air-conditioned first and second
class railway fares. This is in line with the Company's aim of offering the
lowest-cost airline seats in the country, thereby reducing the disparity
between train and air travel fares, in India.
The Technology Edge
GoAir's business model
has been created on the 'punctuality, affordability and convenience' model.
With this in mind, the airline has strategically tied-up with the Bird Information
Systems Private limited (BIS), a leading technology provider of automated
aviation and travel related software solutions, for the use of its Airline
Inventory and Reservations System (AIRS). The adoption of technology solutions
like AIRS will enable GoAir - The People's Airline to achieve superior process
efficiency and thereby help transfer a greater portion of cost savings to our
passengers.
The Service
GoAir - The People's
Airline will provide our passengers experienced service with a smile. Our
management team has been selected from the best in the industry to ensure that
we provide our passengers with Quality Service. Being a low cost carrier, we
will never compromise on safety or security. This ensures our passengers that
they are in safe hands and can fly hassle free. The GoAir team is not just
professionally inclined but has been personally groomed to provide the best
service. Our Pilots, Cabin Crew, Technical and maintenance staff have been
carefully taken on keeping the industry standards in mind, thereby ensuring
superior quality in all our services.
About Us - The
Management Team
Jehangir
(Jeh) Wadia, MD, Go Air
Jehangir (Jeh) Wadia, MD, Go Air is a multi-faceted individual that dons varies
responsibilities. Reminiscing his career path briefly, Jeh Wadia initially went
through a rota of training in The Bombay Dyeing & Mfg Co Limited, Mumbai,
and moved various positionswhen he was initially appointed Spinning Manager and
Weaving Manager in the Textile Mills. From there he moved on to 1995 to 1997 he
was General Manager for Exports and was given an additional responsibility of
Production Planning & Control Systems where he introduced ERP, MRP and
single point of customer contact (SPOCC)
From 1998 to 2001, he founded The Incubation Corporation which was setup to
invest in startup companies both in India and the US, and had investors ranging
from Ratan Tata to Rupert Murdoch, to name a few. He also conceptualized and
helped in the implementation of Tatanova an internet service provider and
horizontal website, now fully owned by the Tata Group.
Also during this time he founded Integrated Clinical Research Sciences (ICRS)
which specializes in clinical research and clinical trials in India.
On the 24th of October 2002, he became the Deputy Managing Director of The
Bombay Burmah Trading Corporation based in Mumbai, India.
At this time he also authored and began restructuring the Wadia Group. Part of
the restructuring involved looking at new financial and strategic investments
for the group. One such financial investment was a JV with The Port Singapore
Authority (PSA), and another example is GoAir a low cost airline in India,
starting operations in October 2005. The strategic Investments have been in the
financial services, retail and real estate arena. He has co-founded a Real
Estate and Retail Fund along with other retail/real estate operating JV's and
has also initiated the Institutionalization of Financial Services in the Wadia
Group.
His tremendous drive and enthusiasm coupled with an innovative approach to
doing business has resulted in the creation of successful companies providing
considerable shareholder value.
In his free time, he works in a Volunteer organization called Deendayal
Research Institute (DRI), under the leadership of Nanaji Deshmukh. DRI's core
competence is to develop working models. Some of the models are of Health &
Hygiene, Education, Entrepreneur training, Agriculture development and many
more. DRI has adopted 2000 villages in Chitrakoot to make them totally self
reliant using the various models. His dream is then to distribute the knowledge
to 600,000 villages making them all self reliant in his life time.
Birender Ahluwalia, Chief Commercial Officer
Birender Ahluwalia, fondly called Vicky is a
Graduate in Statistics with a MBA in Marketing. He has over sixteen years of
leadership expertise in Service Management, Marketing, Sales and Supply Chain
Management. Driven by results and focus on Customer Delight, he leads his team
to achieve business results in a strategic and planned manner.
Young, energetic and fun loving, Vicky enthuses his team members to be vibrant,
focused and leads by example. He was instrumental in strategizing and
implementing marketing plans in Federal Express. He also developed the Direct
Sales and Branch Sales model for HDFC for Western region that was subsequently
adopted throughout the country. He was responsible for the Systems
development, Marketing strategy and entire value chain function at Tata Sky
Limited.
Vicky shares his knowledge and experiences by delivering seminars on subjects
like Service Management, Customer relationships and Supply Chain Management.
G.P. Gupta, Chief Financial Officer
G.P. Gupta, a young and energetic Fellow Member
of the Institute of Chartered Accounts of India, brings with him excellent
insights and proven track record in Finance function across various facets like
Accounting, Banking, Leasing, Treasury and Taxation with large international
companies. He has held responsible and challenging assignments in highly
competitive environments across various industrial sectors including Aviation,
Office Automation and Telecom with strong acumen in setting up new projects.
Mr. Gupta was the youngest Financial Controller for Xerox India where he has
extensively worked on Indian GAAP & US GAAP. Mr. Gupta was a member of the
core team that set up Spice Jet in India. He was instrumental in setting up the
Internet Based Reservation System, Revenue Management System, Internet payment
Gateway, Treasury Function. His leadership qualities and a humane approach to
Finance along with his enthusiasm and always wanting to the best have given him
success in his challenging assignments.
Ng Fook Meng, Chief Operating Officer
An aircraft engineer by training, Ng Fook Meng, COO, has vast experience in the
airline industry. As an Engineer, he has worked on the Fokker F27s and F50s,
B737s, A300s, DC-10s and B747-400s. He has also held management positions in
Aircraft Maintenance, Quality Assurance, Technical Training, Engine Overhaul,
Projects and Marketing & Sales.
Fook Meng had also been an aircraft Production Inspector and an Aircraft
Accident Investigator. His exciting assignments included the participation in
the turning around of an airline, the management of a major flight kitchen and
the revamping of ground services of a major international airline.
Fook Meng has also provided aviation consultancy and participated in cross
border aviation joint ventures.
An advocate of ‘detailed planning’ and ‘management by facts and
figures’, he brings on board a wealth of airline ‘hands on’ management
expertise to GoAir.
Captain Roland Thomas, Executive Vice-President
- Flight Operations
Captain Roland Thomas has a whopping 43 year
experience in the aviation industry and has flown with the original Malayan
Airways, Malaysian-Singapore Airlines, Malaysian Airlines, Jet Airways and
Magic Airlines.
Captain Roland Thomas has worked as a Fleet manager, Chief Pilot and Vice
President–Operations, and also has been an Examiner for 33 years on aircraft
like B 707-312/338, B 737-200, DC 10-30, A300 B4, B747 -200/300, , B 747 – 400,
B 737 NG and has also flown aircrafts like DC-3, F-27, Comet 4C. He has
attended various management courses during his career including Harvard
Business School Senior Management Course.
Capt. Thomas has been a core member responsible for start-up Malaysian Airlines
(MAS) and an active trainer during the initial stages of MAS in 1972. Having
participated in aircraft acceptances and delivery of the B737-200, DC-10, A300,
B747-200/300, B 747- 400 for MAS. He holds the distinction of being the first
Malaysian to fly and deliver all wide-bodied aircraft except the A330 and B777
aircraft. At MAS he has been in the Management Negotiation Committee for
evaluation and purchase of aircraft and engines. It was under his direction the
MAS Training Centre was established. He also introduced B 737, DC-10, A300,
F-50, B 737-400, B 747-400 and A330 stimulators for MAS.
Capt. Thomas has been with Jet Airways as VP-Operations for 5 ˝ years. The
induction of B737 NG’s and the ATR’s and introduction of B 737 NG stimulator
and B 737-400 FTD has been one of his achievements at Jet Airways. He has
successfully completed performance courses and has instructed pilots on
aircraft performance. Whist in India as the only Cat 3B rated pilot then, he
holds the credit of assisting DGCA in Formulation of CAR Section 7, Series X,
Part 1 in the ILS Cat 2 & 3 operations.
Equipped with his experience Capt. Roland Thomas aptly deals in the ever
changing world of Aviation.
Capt. V. K. Sharma, Vice-President - Flight
Operations (Chief of Operations)
He is one of the most experienced and known
personality in the aviation industry. With total flying experience of
approximately 15000 hours and instructional experience on aircraft and
simulator about 4000 hours, he has held various positions both in public sector
and the private airlines.
Fleet
Captain - Boeing 737 - Indian Airlines.
Fleet
Captain - Boeing 737 - Indian Airlines.
Chief
of Operations / Technical Advisor to CEO - Air Sahara.
Chief
of Operations / Technical Advisor to CEO - Air Sahara.
A few Career highlights:
First Examiner in India on Boeing 737 - 300/400. First Flight Inspection
Director from Alliance Air on deputation to DGCA. He also possesses Masters in
Business Administration degree specialising in HRD. He held the position of
Vice President Aero Club of India for 9 years and the position of Honorary
Secretary of Delhi Flying Club Limited
Member of Committees:
Licensing committee for Pilots, Flight
Engineers, Flight Navigators and Flight Despatchers. Control Tower committee of
Mumbai, Chennai and Delhi. Committee on Flight Operations/Standardisation and
Training norms.
His Organisational Capabilities:
Organised an international conference of FAI in
Delhi. Delegates from 73 countries attend this aviation conference including
Mr. Neil Armstrong. Organised an Air Race from Paris to Peking under aegis of
Aero Club of India. Total Aviation Management experience of 27 years.
Raju Srinivasan, Vice-President - Planning
Wing Commander Raju Srinivasan, VM, IAF (Retd.)
is the Vice President (Ground Operations) of GoAir.
Raju has over 25 years of experience in military and civil aviation. A former
military pilot and qualified flying instructor, he has nearly 5000 hours of
flying experience in varied terrain and operating conditions. He has served as
a pilot in the prestigious VVIP Squadron of the Indian Air Force. He is the
recipient of a Presidential gallantry award on 26th January 1996 for his role
in flying operations on the Siachen Glacier. Raju was a member of the core team
that set up Air Deccan in 2003. As its first Chief Business Coordinator, he
oversaw the start-up activities of the airline across all departments and
functions. A post-graduate in Business Administration, Raju is a M.Sc., M.Phil.
from Madras University and a Life Member of the Aeronautical Society of India
and the Rotary Wing Society of India.
Shubhashish Bhattacharya, Vice President -
Ground Operations
Shubhashish Bhattacharya has been in the
aviation industry for over a decade and has handled challenging assignments in
DNATA, United Airlines, Sahara Airlines Limited and Delta Airlines.
A Bachelor of Arts and a Diploma holder in
International Airlines Management, he was instrumental in setting up
International Stations, setting up Ground operation base in his previous
assignments.
Young and energetic Shubhashish has also won
medals in National Power Gliding Competitions and believes in team work and
transparency to achieve goals and sets the highest standards as bench marks.
Neeraj Kapoor, Vice President - Marketing
Neeraj Kapoor is a highly vibrant and
enthusiastic Marketing professional with a MBA in Marketing from a premiere
Indian Management institute. He also has done his Masters in Commerce.
He has over 15 years of Marketing and Sales
behind him in electronics and home appliances segments of leading brands. He
has been instrumental in developing brands for LG electronics, and Kinetic. He
was also instrumental in providing strategic direction to marketing in creating
niche markets for the products.
Ashish Kapadia, Vice-President - Business
Development
Ashish has been an entrepreneur for most part of
his career. He has set up and run a varied range of businesses (i.e. Paints,
Textiles, Polyester, Insurance etc.) mainly focussing on development business.
He has had the exposure to deal with varied organisation to put in place the
start ups that he was involved in.
Ashish has gained a great deal of international exposure in his earlier
business ventures as they involved Tie-ups, Partnerships and Trade. The
exposure and knowledge which he has gained from the diversified ventures, which
are spread across a wide spectrum of industries, will bring great value to
GoAir.
On the personal front he has always had a keen interest in monitoring financial
markets and has developed a good level of understanding on how the same
function.
Vivekanand Sadanand Heble, Vice-President -
Information Technology
Vivekanand S Heble has had extensive experience
across various functions and industries, spanning Finance, Materials and IT in
airlines, petrochemicals and pharmaceutical industries. Vivek now brings this
integrated expertise to GoAir as Vice-President - IT. His past assignments
included working in Indian Airlines, Mangalore Refinery and Petrochemicals
Limited (MRPL), and Hoechst Marion Roussel Limited (HMR)/Aventis Pharma. His
last assignment before joining GoAir was as Head - IT of Kingfisher Airlines
Limited.
Group
Captain AK Sachdev, General Manager Flight Safety
Group
Captain AK Sachdev has more than three decades of aviation and Flight Safety
experience with the IAF. He is an alumnus of the National Defence Academy, the
Air Force Academy, the College of Air Warfare and the Royal Air Force Staff
College (UK).
He
has flown fixed wing (including twin jets) and helicopters and has worked as
Chief Operations Officer in two busy nodal transport bases of the IAF. He has
also commanded an Air Force Station, a combat squadron, and an independent
helicopter detachment as part of the IPKF in Sri Lanka. He holds an MBA
in
HRM, an MPhil, an MSc and an MA.
He
has published two books and several articles in professional journals on
aviation related subjects.
His
last appointment in the Indian Air Force, before he sought a premature release
from service, was that of Command Flight Safety Officer in Training Command.
About Us - Destinations
MUMBAI
The Commercial Capital of India and land of the much-acclaimed Bollywood, is
known the world over for its city life. Apart from just housing some of the
renowned Business houses, the city plays host to one and all offering a
cosmopolitan culture with a vibrant nightlife. Mumbai is also fondly known as
the 'Land of Dreams' is for practically everyone looking to make a career in
life.
GOA
Goa - The land of Sun, Sea and Surf is every tourist's favoured destination,
has gradually carved a place for itself in the list of 'favourite tourist
destinations in the world'. Lying on the beautiful west coast of the Indian
Peninsula and offering sandy beaches, variety of water sport, incredible
natural beauty, carefully preserved heritage museums and multicultural
architecture, Goa continues to be an ideal tourist destination for one and all.
AHMEDABAD
Ahmedabad, primarily called the 'Textile City of India' is a top travel
destination for business travelers as well as holiday makers. Due to its
outstanding business potential and cultural heritage, the recent years have
seen a sharp increase in the number of visitors traveling to the city. Apart
from this, Ahmedabad also forms an ideal junction to begin on a tour to other
parts in Gujarat.
COIMBATORE
Coimbatore also known as the 'Textile and Engineering City of India' is
experiencing a boom in exports, number of BPOs, real estate and the retail
industry. Apart from having tremendous business potential, the city offers
holiday makers known tourist spots like Kodiakanal and Ooty. The city is fast
becoming a major hub for showcasing its medical tourism potential with major
surgical operations costing nearly 40% less than Chennai. The city also offers
convenient connections to neighbouring state of Kerala.
Fact Sheet on Airbus
A320
Country
of origin
European consortium
Type
Short to medium range airliner
Performance
Maximum speed: 0.82 Mach (approx 870 km/h, 541 mph or 470 kts).
Dimensions
Wing span - 34.09m (111ft 10in)
Length - 37.57m (123ft 3in)
Height - 11.76m (38ft 7in)
Wing area - 122.6m2 (1319.7sq ft)
Capacity
- Flight
crew of two.
- Main
cabin can accommodate a maximum of 180 passengers in a high density
layout.
- Seven
LD3 derived LD3-46 containers or palletised cargo can be stored in the
underbelly forward (four) and rear (three) freight holds.
General
characteristics
- Crew:
2 pilots, 4 flight attendants
- Capacity:
180 passengers
- Freight
: 16 300 kg (35 900 lb)
- Length:
37.57 m (123 ft 3 in)
- Wingspan:
34.09 m (111 ft 10 in)
- Height:
11.76 m (38 ft 7 in)
- Wing
area: 122.6 m˛
- Maximum
takeoff: 73 500 kg (162 000 lb) / 77 000 kg (169 800 lb)
- Powerplant:
2 x CFM56-5 111 kN
- Powerplant:
IAE V2500 120 kN
- Maximum
landing: 64 500 kg (142 200 lb) / 66 000 kg (145 500 lb)
- Maximum
cabin width: 3.70 m (12 ft 1 in)
- Wing
sweep (25% chord): 25°
- Wheel
track: 7.59 m
- Maximum
ramp weight: 73 900 kg / 77 400 kg
- Maximum
zero fuel weight: 61 000 kg / 62 500 kg
- Maximum
fuel capacity: 23 860 L / 29 660 L
- Typical
operating weight, empty: 42 400 kg
- Typical
volumetric payload: 16 300 kg
- Bulk
hold volume: 37.43 mł
Brief History
The
A320 program was launched in March 1982, first flight occurred on February 22
1987, while certification was awarded on February 26 1988. Launch customer Air
France took delivery of its first A320 in March that year. The first V2500
engined A320 was delivered to Adria Airways in May 1989.
PROFILE
The Wadia Group today
With 116
years at the forefront of industry in India, the Wadia Group is today broadly
diversified in several growth industries that cover textiles, chemicals,
petrochemicals, plantations, foods, electronics, light engineering, health,
laminates, real estate and consultancy. Consistently, the Group companies have
emerged as market leaders in fields they have entered. And over the years the
Group has developed an enviable record of successfully managing diverse
technologies.
Financial strengths
The
Group has come to be known for its sound and prudent financial track record.
Building strong fundamentals forms the basis of growth in each company, making
them the pick of Indian bourses. Two of the Group's six publicly listed
companies - Bombay Dyeing and Bombay Burmah - have declared uninterrupted
dividends for over a hundred years, despite several recessions in the industry.
National Peroxide, Britannia Industries and Citurgia Biochemicals are some of
the more sought-after scrips on the Stock Exchanges.
Professionalism
Every
company in the Wadia Group believes that if you want to build a sustainable
reputation, you must begin with people, With building relationship that are
strong, and which endure. Strengths are built through a sincere commitment to
high standards. Key personnel are widely experienced in international and
domestic contexts and are prominent in their fields. Making the Wadia Group one
of the most professional among the business houses of India. Today, the Group
employs 35,000 people, a great many of whom have been associated with the
company for more than 25 years.
Manufacturing facilities
To provide products of the finest quality, the Wadia Group continues to invest
heavily in machines and technologies in its manufacturing facilities.
All of the Group's 19 manufacturing facilities today provide high quality
products to discerning markets.
This philosophy involves closely examining and adapting to the changing needs
of the market. Setting up efficient facilities to do this is a Group commitment,
borne out by the fact that in the last 5 years alone, six manufacturing
facilities have been added, modernised and upgraded.
News
GoAir Launches Its Maiden Flight With
Great Aplomb
First Commercial Flight
To Take-Off On November 4, 2005
Mumbai, October 31, 2005:
GoAir - The People's Airline,
a low cost carrier promoted by The Wadia Group took its first maiden flight to
Goa and back on October 30, 2005. The first commercial flight of the airline
will take-off on November 4, 2005. The airline was inaugurated by Sharad Pawar,
agriculture minister, government of India alongside Praful Patel, civil
aviation minister, Government of India. The take-off to the entire event began
in a traditional way on the auspicious occasion of Dhanteras with a ceremonial
puja along with the entire Wadia Family, ministers and the GoAir team. This was
followed by brief speeches by Nusli Wadia, chairman, The Wadia Group, Praful
Patel and finally, the man behind GoAir - The People's Airline, Jeh Wadia, the
managing director.
Talking
on the launch of GoAir and positive growth of the airline industry in general, Praful Patel, civil aviation
minister said, "There has been a spurt of low cost carriers
in the last year but it only portrays an optimistic outlook for the aviation
industry. The launch of GoAir will see another low cost carrier take to the
skies but promising scenario is the fact that, this new venture is backed by a
strong and renowned name such as The Wadia Group."
Adding
further on the launch, Jeh
Wadia, Managing Director, GoAir - The People's Airline said,
"My objective as an airline is simple - commodotise air travel, thereby
enabling all Indians to fly. This however is just the first step to a long and
successful journey ahead. With GoAir - The People's Airline, we promises to
deliver to our passengers a quality consistent, quality assured and time
efficient product. "
BREAKING RECORD!!!
www.GoAir.in
witnesses Over A Million Hits In Less Than An Hour
GoAir sees tremendous response on sales commencement
Mumbai, October 21, 2005:
GoAir – The People’s Airline,
a low-cost carrier and the newest venture of The Wadia Group, witnessed over a million
hits at one go on their website within less than an hour from the commencement
of ticket sales.
With a teaser being put up on the website stating launch at 3:30 pm, the
airline officially opened bookings at 4:30 pm to a tremendous and overwhelming
response. To that effect, between 4:30 and 5:00 pm on October 21, 2005, which
was the first half hour of ticket bookings, the airline’s website was
overloaded with the response it received for bookings. This overload has
further increased our customers chances to win their GoAir FreeFare.
The
10,000 (only taxes Rs 221 applicable) GoAir FreeFares will be offered over a period
of 6 months with a limited stock availability on a per day basis. This provides
all our customers a chance to win a GoAir FreeFare any time during the month.
Commenting
on this, Mr. Jeh Wadia, Managing Director, GoAir, said “We have received an
overwhelming response in the first hour of sales of tickets. We are The
People’s Airline, and will continue to try and give our customers the best
value for money and make air travel affordable by all”. The airline will take
off on October 30, 2005, with scheduled services to four initial destinations –
Mumbai, Ahmedabad, Coimbatore and Goa.
Get
Ready To GoAir For Free
GoAir FreeFares -
10,000 Free Tickets Per Month - Now Or Never Offer
Ticket
Sales Commence From October 21, 2005
Mumbai, October 20, 2005: GoAir
- The People's Airline, a low-cost carrier and newest venture of
The Wadia Group, owners of Bombay Dyeing and Britannia Industries Limited in
Mumbai, has announced the commencement of the sale of its tickets from October
21, 2005. The initial routes to be operated are Mumbai, Goa, Ahmedabad and
Coimbatore. As part of a never before launch offer, GoAir is offering its
passengers 10,000 free tickets per month per destination as per its GoAir FreeFares
scheme. Passengers can now avail the GoAir FreeFares, a never before deal,
that will be available on a 'first come first serve' basis. This offer is valid
for the next six months starting October 2005 to March 2006, wherein passengers
who book early would get a zero fare but would only have to pay the taxes
amounting to Rs 221.
The
initial sectors for which sales of tickets will begin are:
Sectors
Mumbai-Ahmedabad
Mumbai-Goa
Mumbai-Coimbatore
Frequency
2 flights / day
2
flights / day
1
flight / day
A detailed schedule will be displayed on the website - www.GoAir.in
The fare structure is aimed at rewarding clients who book early. However, fares
would vary based on per seat availability and price policy of the airline for
customers who book closer to the departure time. The USP to the entire fare
structure would be the mode of distribution that is far more elaborate in
comparison to existing mediums.
Commenting on the development, Jeh Wadia, Managing Director, GoAir says,
"We take great pleasure in announcing the commencement of our sale of
tickets to the four destinations. In the coming months, we would aggressively
look at our route expansion but in a progressive manner. It is our endeavour to
commoditize air travel in India by delivering low-cost fares coupled with
quality in terms of price, efficiency and service with a smile. Our
distribution network has been well-researched and after evaluating current
mediums, we have introduced an innovative strategy that is not just accessible
but extremely convenient to everyone." He further added, "It is our
dream to increase air connectivity in India, and this is our first step in this
direction."
Now, passengers who don't have the luxury of a credit card, debit card or even
a Computer need not travel distances to book their GoAirtickets but can access
them from any of our distribution mediums that would include travel agents, the
Customer Care Center (MTNL - 1600-222-111) or (Mobile 09223-222-111), Internet
- www.GoAir.in, TATA Indicom centres, Inlott centres and other channel
partners.
GoAir-The People's Airline
- main objective is to focus on delivering a quality consistent, quality
assured and time efficient product and service at affordable fares.
The fares will be 40% lower than that of traditional airlines and on an average
10% higher than air-conditioned first and second class railway fares. This is
in keeping with the airline's aim of being the lowest-cost carrier in the country
and reducing the disparity between train and air travel in India.
The four initial routes have been chosen keeping in mind the high amount of
traffic to these destinations. The airline is considering more routes like
Bhavnagar, Aurangabad, Kholapur, Rajkot, Jammu, Bhopal, Madurai, and Kozhikode
among others at competitive prices. With an expanded route network and
significantly reduced prices GoAir aims at establishing itself as India's truly
low-cost airline.
Note to Editors
About
GoAir
GoAir is a low-cost carrier promoted by The Wadia Group. Principals that have
been incorporated for years in the Wadia Group - of trust and integrity – will
also be inculcated into the airline business. GoAir will take off on October
30, 2005 with scheduled services to Goa, Ahmedabad, and Coimbatore from Mumbai.
Initially, the airline will commence service with one A320 aircraft with a
single class, 180 seat configuration, and plans to expand its fleet to 36
aircraft in 3 years. The airline aims to be the lowest-cost airline in India
and will provide passengers a comfortable and affordable option to popular
holiday and business destinations in India.
BUSINESS ACTIVITIES:
GoAir Airline has previously
offered the 10,000 GoAir Free Fares for its intial four destinations Mumbai,
Ahmedabad, Coimbatore and Goa. With the delivery of its second A320 aircraft,
the airline will be launching services to its four new sectors – Hyderabad,
Bangalore, Chennai & Jaipur with effect from December 12, 2005. The four
new sector now increase GoAir’s destination strength to 8 cities in India,
RELATED COMPANIES:
Ř The Bombay Dyeing Mfg. Co. Limited
Ř The Bombay Dyeing – DMT
Ř National Peroxide Limited
Ř The Bombay Burmah Trading Corp.
Limited
Ř Britannia Industries Limited
Ř Wadia BSN India Limited
Ř Formica India Division
Ř B.R.T. India LIMITED
Ř BCL Springs Division
Ř Afcoset Balances Division
Ř Afco Industrial & Chemicals
Limited
Ř Dental Products of India Limited
Ř Medical Microtechnology Limited
Ř Instruments Orthopaedics
Ř Gherzi Eastern Limited
Ř Neville Wadia Institute of Mangement
Studies & Research, Pune
Ř Nowrosjee Wadia College of Arts
& Science, Pune
Ř Cusrow Wadia Institute Of
Technology, Pune
Ř Ness Wadia College of Commerce, Pune
Ř D. G. Ruparel College. Mumbai
Ř New Law College, Mumbai
Ř Modern Education Society’s College
of Engineering, Pune
Ř Nowrosjee Wadia Meternity Hospital
Ř Bai Jerbai Wadia Hospital for
Childern
Ř Integrated Clinical Research
Sciences Pvt. Limited
Ř Britannia New Zealand food Pvt.
Limited
GoCustomer Care Center:
(MTNL/BSNL) 1800 222 111
(All
Phones) 09223 222 111
Bankers Charges Report as per
Registry
|
Name
of the company |
GO AIRLINES (INDIA) PRIVATE
LIMITED |
|
Presented By |
Mr. K. T. Thacker, Company Secretary
|
|
1) Date
and description of instrument creating the change |
Deed of
hypothecation dated 20.01.2006 |
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Credit facilities
in the aggregate not exceeding Rs. 250.000 Millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
The
company has hypothecated the following assets by way of first charge The whole
of the company’s stocks of raw materials, semi finished and finished gods,
consumable stores and spares an such other movable including book debts,
bills whether documentary or clean, both present and future, whether now
lying loose or in cases or which are bow lying or stored in or about or shall
hereafter from time to time during the continuance of these presents be
brought into or upon or be in or about all the Company’s factories, premises
and godowns whether situated may be or be held by any party to the order or
disposition of the company or in the course of transit or on high seas or on
order or delivery. All
amount owing to, and received and receivable by, the company and any person
on its behalf, all book debts, all cash flows and receivables and proceeds
and all rights, title, interest, benefits, claims and demands whatsoever of
the company in to or in respect of all the aforesaid assets, including but
not limited to the company’s cash in hand, both present and future. |
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
Margin : Inventory
25 % Book
debts 25 % Interest
and other terms as agreed from time to time. |
|
5) Name and
Address and description of the person entitled to the charge. |
ICICI
Bank Limited ICICI
Bank Towers, Corporate office Bandra
Kurla Complex, Bandra
[East], Mumbai – 400051 |
|
6)
Date and brief description of
instrument modifying the charge |
-- |
|
7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
-- |
|
Corporate
identity number of the company |
U63013MH2004PTC145991 |
|
Name of
the company |
GO
AIRLINES (INDIA) PRIVATE LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
Neville
House J N Heredia Marg, Ballard Estate, Mumbai – 400001, Maharashtra |
|
This form
is for |
Creation
of Charge |
|
Type of
charge |
Hypothecation
|
|
Particular
of charge holder |
UTI Bank
Limited Trishul 3rd
Floor, Opposite Samartheshwar Temple, Ahmedabad – 380006, Gujarat, India |
|
Nature of
instrument creating charge |
Deed of
hypothecation of current assets dated 21.06.2006 |
|
Date of
instrument Creating the charge |
21.06.2006 |
|
Amount
secured by the charge |
Rs.
300.000 Millions |
|
Brief of
the principal terms an conditions and extent and operation of the charge |
Rate of
Interest – PLR mins 4 % i.e. 9 % p.a. at present Terms and
repayment – on demand Extent
and operations of charge – the charge is on a pari passu basis with other
bonks. |
|
Description
of the property charged indicating whether it is a charged on |
Stock in
trade Book
debts Others |
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.44.28 |
|
UK Pound |
1 |
Rs.86.62 |
|
Euro |
1 |
Rs.58.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
-- |
|
OPERATING
SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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
and their relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
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 |
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