MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED |
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Formerly Known As : |
HYDERABAD INTERNATIONAL AIRPORT LIMITED |
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Registered Office : |
8-2-120/112/88 and 89, Aparna Crest, III Floor, Road No.2, Banjara
Hills, Hyderabad – 500034, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.12.2002 |
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Com. Reg. No.: |
040118 |
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CIN No.: [Company
Identification No.] |
U62100AP2002PLC040118 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDH00882A |
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PAN No.: [Permanent
Account No.] |
AABCH3448M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
To establish, promote, develop and/or finance, plan, design, develop,
construct, alter, repair, set up, commission, operate, market, manage and
maintain international airports and airport infrastructure. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12505984 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between GMR Group and the Hyderabad Sate Government.
Available information indicates high financial responsibility of the company.
Trade relations are fair. Fundamentals are strong and healthy. Payments are
reported as usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
8-2-120/112/88 and 89, Aparna Crest, III Floor, Road No.2, Banjara
Hills, Hyderabad – 500034, Andhra Pradesh, India |
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Tel. No.: |
91-40-66723333 |
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Fax No.: |
91-40-66624443 |
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E-Mail : |
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Website : |
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Factory : |
6-3-866/1/G3 Green Lands Begumpet, Hyderabad – 500016, Andhra Pradesh,
India |
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Tel. No.: |
91-40-23410191 |
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Fax No.: |
91-40-55624443 |
DIRECTORS
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Name : |
Mr. G M Rao |
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Designation : |
Chairman |
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Address : |
Varalakshmi Nilayam 486/76/38th Cross, 1st
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
01.07.1949 |
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Date of Appointment : |
29.10.2003 |
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Name : |
Mr. Kiran Kumar Grandhi |
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Designation : |
Managing Director |
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Address : |
Varalakshmi Nilayam 486/76/38th Cross, 1st Block,
Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
13.09.1975 |
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Date of Appointment : |
29.10.2003 |
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Name : |
Mr. Binoy Kumar |
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Designation : |
Director |
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Address : |
Principal Secretary TR and B Dept J Block, A P Secretary AT, Hyderabad
– 500022, Andhra Pradesh, India |
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Date of Birth/Age : |
29.10.1960 |
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Date of Appointment : |
27.03.2004 |
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Name : |
Mr. P Ramakanth Reddy |
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Designation : |
Director |
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Address : |
H No.8-2-/B/D Road, No.
, Banjara Hills, Hyderabad – 500022, Andhra Pradesh, India |
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Date of Birth/Age : |
08.09.1949 |
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Date of Appointment : |
29.01.2005 |
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Name : |
Mr. K Ramalingam |
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Designation : |
Director |
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Address : |
Airport Authority of India, Rajiv Gandhi Bhavan, Safdarjung, Airport,
New Delhi – 110003, India |
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Date of Birth/Age : |
29.10.2003 |
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Date of Appointment : |
29.10.2003 |
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Name : |
Mr. Sanjay Narayan |
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Designation : |
Additional Director |
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Name : |
Mr. Dato Bashir Ahmed Bin Abdul Majid |
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Designation : |
Director |
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Address : |
B2-4, Block 3 Hill Side Apartment, Jalan Melawati, Kualalumpur –
53100, Malaysia |
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Date of Birth/Age : |
26.06.1949 |
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Date of Appointment : |
29.10.2003 |
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Name: |
Mr. R S S L N Bhaskarudu |
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Designation : |
Additional Director |
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Name : |
Mr. B V Nageswara Rao |
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Designation : |
Director |
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Address : |
1230A 34th Cross, 4th Block, Jayanagar,
Bangalore – 560041, Karnataka, India |
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Date of Birth/Age : |
16.01.1954 |
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Date of Appointment : |
29.10.2003 |
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Email : |
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Name : |
Mr. K Balasubramanian |
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Designation : |
Director |
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Address : |
708 Olympus III Prestige Aeropolis Hosur Road, Bangalore – 560029,
Karnataka, India |
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Date of Birth/Age : |
03.12.1942 |
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Date of Appointment : |
29.10.2003 |
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Email : |
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Name : |
Mr. Rigas Doganis |
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Designation : |
Director |
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Address : |
95 South Hill Park NW3 25P, London, England |
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Date of Birth/Age : |
01.01.1939 |
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Date of Appointment : |
27.03.2004 |
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Name : |
Mr. Sunil Tandon |
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Designation : |
Director |
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Address : |
Bhansali House, A-5 Veera Desai Raod, Andheri (West), Mumbai – 400053,
Maharashtra, India |
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Date of Birth/Age : |
26.09.1957 |
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Date of Appointment : |
29.10.2003 |
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Name : |
Mr. K Brahmananda Reddy |
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Designation : |
Alternate Director |
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Name : |
Mr. T S Appa Rao |
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Designation : |
Alternate Director |
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Address : |
Principal Secretary to Government Finance Department Government of
Andhra Pradesh, Hyderabad – 500022, Andhra Pradesh, India |
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Date of Birth/Age : |
10.05.1952 |
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Date of Appointment : |
29.01.2005 |
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Name : |
Mr. K V K Seshavataram |
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Designation : |
Alternate Director |
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Address : |
1st Floor, KK Mansion, 45-58-16/5/1, Narasimha Nagar,
Vishakhapatnam – 530024, Andhra Pradesh, India |
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Date of Birth/Age : |
20.07.1941 |
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Date of Appointment : |
27.03.2004 |
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Name : |
Mr. Dato Abd Hamid B Mohd Ali |
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Designation : |
Alternate Director |
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Address : |
28 Jalan Suasana, 5/3A, Bandra Tun Husseinoni Cheras 43200, Malaysia |
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Date of Birth/Age : |
25.05.1956 |
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Date of Appointment : |
27.03.2004 |
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Name : |
Mr. Dr. Nasim Zaidi |
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Designation : |
Director |
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Address : |
Joint Secretary Ministry of Civil Aviation Block – B, Bhavan
Safdarajung, Airport, New Delhi – 110003, India |
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Date of Birth/Age : |
07.07.1952 |
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Date of Appointment : |
29.10.2003 |
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Name : |
Mr. Pamidi R Prasad Rao |
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Designation : |
Director |
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Address : |
Plot No.3, R and D Defence Enclave, Sikh Village, Secunderabad –
500009, Andhra Pradesh, India |
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Date of Birth/Age : |
14.09.1941 |
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Date of Appointment : |
29.10.2003 |
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Name : |
Mr. V S Sampath |
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Designation : |
Director |
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Address : |
Principal Secretary, Finance, Government of India, Andhra Pradesh,
Secretarian. Hyderabad – 500022, Andhra Pradesh, India |
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Date of Birth/Age : |
16.01.1950 |
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Date of Appointment : |
29.10.2003 |
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Name : |
Mrs. Preeti Sudan |
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Designation : |
Director |
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Address : |
Secretary to Government Finance Department of Andhra Pradesh,
Hyderabad – 500022, Andhra Pradesh, India |
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Date of Birth/Age : |
30.04.1960 |
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Date of Appointment : |
01.12.2003 |
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Name : |
Mr. A K Misra |
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Designation : |
Additional Director |
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Address : |
Airport Authority of India, Rajiv Gandhi Bhavan, Safdarjung, Airport,
New Delhi – 110003, India |
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Date of Birth/Age : |
12.10.1946 |
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Date of Appointment : |
07.08.2006 |
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Name : |
Mr. Srinivas Bommidala |
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Designation : |
Director |
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Address : |
No.309, 3rd Cross, 2nd Block, 2nd
Stage, Devasandra Rajmahal Vilas Ext. Bangalore – 5600094, Karnataka, India |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
08.07.2006 |
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Email : |
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Name : |
Mrs. Neelam Sanghi |
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Designation : |
Director |
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Address : |
6 J Street, II T Campus, Hauz Khas, New Delhi – 110016, India |
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Date of Birth/Age : |
23.10.1962 |
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Date of Appointment : |
08.07.2006 |
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Email : |
KEY EXECUTIVES
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Name : |
Mr. Rajgopal Swami |
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Designation : |
Company Secretary |
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Address : |
Flat No.210, Jyothiraditya Plot No.2 Srinigar Colony, Hyderabad –
500073, Andhra Pradesh, India |
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Date of Birth/Age : |
29.12.1960 |
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Date of Appointment : |
25.02.2006 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 19.08.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Binoy Kumar |
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7634 |
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Mr. N P Ramkrishna Reddy |
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1 |
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GMR Infrastructure Limited |
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36995 |
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Airport Authority of India |
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7635 |
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Malaysia Airport Holding Berhad |
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6460 |
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GMR Holding Private Limited |
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2 |
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GVL Investments Private Limited |
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2 |
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GMR Operations Private Limited |
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1 |
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Total |
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58730 |
(As on 31.03.2007)
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Category |
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Percentage |
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Government (Central and State) |
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26.00 |
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Foreign Holdings (FIIs, FCs, FFIs, NRIs, or OCB and Other) |
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11.00 |
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Bodies Corporate (Not mentioned above) |
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63.00 |
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Total |
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100.00 |
BUSINESS DETAILS
|
Line of Business : |
To establish, promote, develop and/or finance, plan, design, develop,
construct, alter, repair, set up, commission, operate, market, manage and
maintain international airports and airport infrastructure. |
GENERAL
INFORMATION
|
Bankers : |
Not Available |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Price Where house Chartered Accountant |
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Address : |
6-3-550, II Floor, B Bhavan Somajiguda, Hyderabad – 500082, Andhra
Pradesh, India |
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Name : |
P Rama Krishna Chartered Accountant |
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Address : |
Price Water House, 6-3-550, II Floor, B Bhavan Somajiguda, Hyderabad –
500082, Andhra Pradesh, India |
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Holding Company : |
GMR Infrastructure Limited |
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Subsidiaries : |
Hyderabad Menzies Air Cargo Private Limited U62100AP2006PTC049243 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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400000000 |
Equity Shares |
Rs.10/- Each |
Rs.4000.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
58730 |
Equity Shares |
Rs.10/- Each |
Rs.0.587
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.587 |
0.587 |
0.587 |
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2] Share Application Money |
2055.909 |
1902.873 |
0.000 |
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3] Reserves & Surplus |
1070.000 |
1070.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3126.496 |
2973.460 |
0.587 |
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LOAN FUNDS |
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1] Secured Loans |
5366.817 |
2516.666 |
0.000 |
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2] Unsecured Loans |
3334.701 |
1575.000 |
0.000 |
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TOTAL BORROWING |
8701.518 |
4091.666 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11828.014 |
7065.126 |
0.587 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
105.446 |
82.826 |
18.753 |
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Capital work-in-progress |
9530.018 |
4776.925 |
678.929 |
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INVESTMENT |
431.426 |
652.726 |
213.312 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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|
Cash & Bank Balances |
505.265
|
285.430 |
280.271 |
|
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Other Current Assets |
0.878
|
717.099 |
0.546 |
|
|
Loans & Advances |
210.730
|
164.975 |
20.511 |
|
Total
Current Assets |
716.873
|
1167.504 |
301.328 |
|
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Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
|
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Current Liabilities |
741.397
|
442.209 |
1209.359 |
|
|
Provisions |
21.226
|
5.348 |
2.376 |
|
Total
Current Liabilities |
762.623
|
447.557 |
1211.735 |
|
|
Net Current Assets |
(45.750)
|
719.947 |
(910.407) |
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MISCELLANEOUS EXPENSES |
1806.874 |
832.702 |
0.000 |
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|
|
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|
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TOTAL |
11828.014 |
7065.126 |
0.587 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.03
|
1.53 |
2064.28 |
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|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
0.94
|
2.61 |
0.25 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U62100AP2002PLC040118 |
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Name of the
Company |
GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED |
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Address |
8-2-120/112/88 and 89, Aparna Crest, III Floor, Road No.2, Banjara
Hills, Hyderabad – 500034, Andhra Pradesh, India |
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This form is for |
Modification of
Charge |
||||||||||||
|
Type of Charge |
Any Interests in
Immovable Property Book Debts Movable Property
(Not being Pledge) Goodwill Refer Clause 3 of
attached Deed of Hypothecation |
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|
Particulars of
the charge holder |
IDBI Trusteeship
Services Limited Asian Building,
Ground Floor, 17, R Kamani Marg, Ballard Estate, Mumbai – 400001,
Maharashtra, India |
||||||||||||
|
Nature or
description of the instrument(s) creating or modifying the charge |
Deed of
Hypothecation in relation to charge of movable property No instrument
created for deposit of title for charge of interests in immovable property. |
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|
Date of the
instrument creating or modifying the charge |
27.07.2007 |
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Amount secured by
the charge |
Rs.5180.000
Millions |
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|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests:
Terms of
Repayment: The Foreign
Currency Loan (ECB) is repayable in 56 Unequal Installment, Commencing From
July 2010 and ending on April 2024 Margin: NA Extent and
operation of the charge: Please refer optical
attachment III to this from 8 |
||||||||||||
|
Short particulars
of the property charged (including location of the property) |
The particulars
of movable proerty hypothecation and immovable property mortgaged are
detailed in optical attachment II. |
||||||||||||
|
Particular of the
present modification |
Particulars of
resent modification are enclosed as optical attachment III. |
Director Profile :
Mr. G.
M. Rao –
Group
Chairman - GMR Group
G M Rao, 57, a mechanical engineer by profession, is the
founder Chairman of GMR Group, a leading infrastructure developer in the
country. The Group is well diversified and professionally managed with focus on
business verticals of Energy, Urban Infrastructure and Highways including SEZ,
Airports and Agri-business.
Born on July 14, 1950 in a small town of Rajam in the
Srikakulam district of Andhra Pradesh, G M Rao established the GMR business
empire starting from a single jute mill in Rajam in 1978.
A visionary businessman, G M Rao recognised the huge
business potential in entering the infrastructure space, with the opening up of
the power sector in the 90s in India. Within a span of a decade, he
successfully established three greenfield power plants in the country, one each
in the state of Tamil Nadu, Karnataka and Andhra Pradesh Pradesh. Under his
guidance, the Group is now developing several power projects in various parts
of the country.
G M Rao expanded the Group's presence in the infrastructure
sector by leading the Group's foray into Roads, The Group has already completed
two greenfield road projects and four more projects are under various stages of
implementation. Realising that Airports will drive the economy in the 21st
century, G M Rao spearheaded the Group's entry into the high profile airport
business. Under his leadership the Group is developing the new greenfield
International Airport at Hyderabad, and is modernising and restructuring the
Delhi International Airport. While the new Hyderabad Airport will commence
operations by March 2008, the first phase of Delhi Airport will be commissioned
by 2010 in time for the Commonwealth Games.
Under G M Rao's visionary leadership, the Group bagged its
first global project by winning the bid to modernise the Sabiha Gokcen
International (SGA) airport at Istanbul, Turkey and also ventured into the new
business sector of Urban Infrastructure. The Group will set up a 3300 acre
multi-product SEZ in Krishnagiri District of Tamil Nadu.
G M Rao has today successfully established GMR Group, as one
of the leading infrastructure organisations in the country. His commitment to
the core infrastructure sector has resulted in the Group exiting some of the
highly lucrative businesses of banking, insurance, breweries and jute. Rao was
the largest shareholder in the country's leading 75-year-old private sector
Vysya Bank, which has been successfully transformed into a modern technology
driven and hugely successful financial enterprise. For his visionary approach
and outstanding contribution to ING Vysya Bank for a period of two decades as
its Director and Chairman, the Bank in September 2006 conferred on him the
status and title of 'Chairman Emeritus'.
He was chosen as the 'Entrepreneur of the year' at the
Economic Times Awards for Corporate Excellence 2006 - 07 this year. The award
has been given to him in recognition of his exemplary entrepreneurial spirit
and potential in breaking into the big league of top infrastructure
organizations in India.
Besides infrastructure, the other focus area for the GMR
Group is Agri-business. The Group already has a sugar plant in Andhra Pradesh
Pradesh and is coming up with another in the state of Karnataka. The existing
plant provides livelihood for over 25000 farmers from 500 villages of the
region in one form or the other.
With a strong desire to serve the needs of the marginalized
sections and the rural society, Rao set up the GMR Varalakshmi Foundation, to
raise their living standards. The Foundation is active in the areas of
education, health and hygiene, community development and empowerment of rural
youth.
To face the challenges of tomorrow and meet the future needs
of a fast developing country like India, G M Rao has laid a strong emphasis in
building a transparent and system driven organization. While a set of seven
core values define the GMR Group's distinct organization culture, Rao has also
spearheaded a "Family Constitution" model for the group. The aim of
this is to ensure a smooth transition of business from generation to
generation, and enable professionals to discharge their rightful roles in the
growth and development of the Group. In line with this, over a period of time,
the members of the family would provide only the strategic inputs and
investment needs and counseling for all the businesses and activities of the
Group.
G M Rao's thrust is on combining the best of entrepreneurial
spirit with a dynamic team of professional managers who work in an enabling and
vibrant organisational culture, to sustain and consistently meet his vision for
the Group of 'Building Entrepreneurial organisations that make a difference to
society through Creation of Value'.
Mr. Kiran Kumar Grandhi –
Chairman
Airports
Mr. Kiran Kumar Grandhi entered the family business in 1996
at the age of 21 and formally joined the Group as its Director in 1998. He has
since worked on key, strategic assignments which were crucial in transforming
GMR Group into a leading infrastructure power-house of the country. These
include driving the strategic tie-ups with PSEG Global Inc. for Tanir Bavi
Power Project, life insurance joint venture with ING and Vysya Bank (that the
company has exited), joint venture with Malaysia Airports Holdings Berhad for
GMR Hyderabad International Airport (GHIAL) project and with United Engineers
of Malaysia for bidding the Golden Quadrilateral projects.
He also played a significant role in helping the Group bag
two of the annuity road projects at competitive rates benchmarked by the
industry. His next major contribution came by way of enabling the Group to
emerge as the preferred bidder and subsequently the developer of the Greenfield
GMR Hyderabad International Airport.
As MD GHIAL, Kiran has played a crucial role in ensuring
that the airport is being constructed to world class standards and within time
for the launch in 2008. Now as Chairman - Airports, he will also be responsible
for Delhi International Airport (DIAL), Subject Aviation SEZs and the Group's
Airport Business Development division.
Mr. Srinivas Bommidala - Chairman –
Urban
Infrastructure and Highways
With over 22 years of wide ranging experience, Srinivas
Bommidala hails from a business family with interests in Agriculture, FMCG and
Services Sector. During this period, Bommidala played a monumental role in
establishing new projects in the above mentioned business sectors fastidiously.
At GMR he led the Group's foray into the infrastructure
sector and played an instrumental role in setting up the Group's first power
project - the GMR Power Corporation Private Limited (GPCL) in 1998.
Under his leadership, the Group's third Greenfield power
project, a 388.5 MW combined cycle gas turbine power project at Vemagiri was
successfully completed.
B Srinivas as MD DIAL has led the development of the project
through its various stages and ensuring it is well on track for the timely
launch. Importantly, he has succeeded in creating a strong team of proven
professionals. As Chairman - Urban Infrastructure and Highways he is
responsible for the Highways sector, Property, Construction and SEZ businesses
(excluding Aviation SEZs).
Mr. B. V. Nageswara Rao –
Chairman
Energy and Agri-business
An engineering graduate, B.V.N Rao has 13 years of
experience in the banking sector with specific experience in Industrial Finance
and Rehabilitation of sick industries. He is an expert in foreign exchange and
international trade.
B V N Rao is presently Group Director of GMR Group. He has
also assumed his new role as Chairman Energy and Agri - Business (the sugar and
manufacturing business) of the Group.
Dato Seri Ahmad Bin Abdul Majid
Dato' Seri Ahmad Bin Abdul Majid is currently the Managing
Director of Malaysia Airports Holdings Berhad (MAHB). He holds a Bachelor of
Arts Degree (Honors) in International Relations from Malaysia. He has over 30
years of experience in the airline industry, having worked for companies such as
the Malaysian Airline System Berhad (MAS) from June 1972 to November 2001. He
retired as the Executive Vice-President, Airline from MAS.
Prior to joining MAHB, he was Aviation Advisor to the
Ministry of Transport, Malaysia.
Mr. K. Balasubramanian –
Member
Group Holding Board
K. Balasubramanian has close to 40 years of experience in
International Banking. During his 25 years with American Express, he held
senior positions in Marketing, Credit and General Management in several Asian
and European countries. He served as Country Head for Korea, India and Nepal
and the Chief Credit Officer for the Asia - Pacific region and Indian
subcontinent. He was subsequently with ING Vysya Bank as the Managing Director
and CEO.
Now, at GMR Group, Mr. K. Balasubramanian is Member GMR
Holding Board. He supports the Chairman in driving initiatives on strategic
reviews, Foundation projects and other institution building measures. His
responsibilities also include overseeing the GMR Varalakshmi Foundation,
leadership development and mentoring senior leadership team in achieving their
business targets.
Mr. P. Ramakanth Reddy, IAS
Mr. P. Ramakanth Reddy IAS is the Special Chief Secretary to
the Government, Finance Dept., and Government of Andhra Pradesh. He represents
the Govt. of Andhra Pradesh on the Board.
Mr. T Chatterjee, IAS
Mr. T Chatterjee, IAS, Principal Secretary, Government of
Andhra Pradesh (GoAP), Transport, Roads and Buildings (Ports) Department (T R
and B), is a Director on the Board of the company, representing the GoAP.
Prior to his association with the T R and B, Mr. T
Chatterjee served the Department of Environment, Forest Science and Technology
and with the A P Pollution Control Board. He also served as Collector for the
Chitoor and Hyderabad Districts.
Ms. Anna Roy
Ms. Anna Roy, has been nominated as Director on the Board of
the company by the Airports Authority of India. She presently is the Director,
Ministry of Civil Aviation (MoCA), handling all PPP Projects in Airport
development. Ms. Anna Roy is an
economist and is from the Indian Economic Service. She is a post graduate in
economics from the Delhi School of Economics.
Prior to her association with the MoCA, she was working with
the Ministry of Finance dealing with policy and other sectoral issues relating
to power, pharmaceutical, telecom, highway and civil aviation. She has also
worked on mega infrastructure projects in these sectors and also policy issues
in context liberalising these sectors.
Mr. V P Agrawal
Mr. V P Agrawal has been nominated by the Airports Authority
of India on the Board of Directors of the company. Mr. V P Agrawal is currently
the Member (Planning) at Airports Authority of India.
Mr. V P Agrawal, belong to the Indian Engineering Services
and has his Masters in Engineering (Power Electronics and Electric Drivers)
from IIT Roorkee.
Mr. V P Agrawal's association with the Airports Authority of
India (AAI) started in the year 1990, when he took charge as its Superintending
Engineer. He held various positions during his 16 long years of association
with the AAI, including that of:
- Addl. General Manager-Central Head Quarters,
- Airport Director-Srinagar Airport,
- General Manager-Northern Region,
- Regional Executive Director-North Eastern Region
- Regional Executive Director-Northern Region
Prior to his association with the AAI, Mr. V P Agrawal
worked with the Central Public Works Department, for 12 years, at various
positions.
Professor Rigas Doganis
Prof. Rigas Doganis is a renowned aviation consultant and
strategy adviser to airlines, airports, banks and governments. He is Chairman
of the prestigious European Aviation Club in Brussels. In September 2003, he
was appointed to the Board of South African Airways as a non-executive
Director.
He graduated from the London School of Economics (LSE). He
carried out postgraduate studies in air transport at the Sorbonne in Paris and
at the LSE. This was followed by a Doctorate in Air Transport also at the LSE.
He is a Fellow of the Royal Aeronautical Society.
He is also Visiting Professor at the College of Aeronautics,
Cranfield University and former Chairman/CEO of Olympic Airline in Athens.
Mr. R.S.S.L.N Bhaskaradu
Mr. R.S.S.L.N Bhaskaradu, is a Director on the Board of the
company. Mr.Bhaskaradu holds engineering degree in Electrical and has a history
of remarkable accomplishments and effective management and leadeship skills
spanning 43 years in the industry.
He has served over 21 years at Bharat Heavy Electricals
Limited. During his tenure in BHEL he was involved in the development and
implementation of large power projects all over the country.
He has served for 16 years at Maruti Udyog Limited (MUL). He
held the post of Managing director of Maruti Udyog Limited. His involvement
with MUL had been since its inception and he had played a keyrole in the
organisation's good performance and achievement results since 1983.He has also
served as a Member/Chairman of the Public Enterprises Selection Board of the
Government of India.
Mr. T S Appa Rao, IAS
Mr. T S Appa Rao, IAS is an alternate Director to Mr. P
Ramakanth Reddy, IAS, representing the Government of Andhra Pradesh.
Mr. K Brahmananda Reddy, IRAS
Mr. K Brahmananda Reddy, IRAS, Special Secretary to
Government of Andhra Pradesh (GoAP), Transport, Roads and Buildings (Ports)
Department (T R & B), is an Alternate Director to Mr. T Chatterjee, IAS, on
the Board of the company, representing the GoAP.
Dato Abd. Hamid bin Mohd Ali
Dato Abd. Hamid bin Mohd Ali is an Alternate Director to
Dato' Seri Ahmad Bin Abdul Majid. He currently is the Senior General Manager of
Malaysia Airports Holdings Berhad.
Mr. G B S Raju –
Chairman
Corporate and International Business
Raju entered the family business, GMR Group, in 1996 at the
age of 22. Through these years, he has held key portfolios in various GMR Group
companies.
Initially he played a crucial role in shaping the overall
strategy and positioning of the organisation. He then took on the development
and implementation of various projects of the Group. He was instrumental in
installing India's first and the world's largest floating barge mounted power
plant - GMR Energy Ltd., Mangalore.
He successfully steered the Group's foray into the Roads
Business and the Group is now one of the leading road developers of the
country.
Raju as Group CFO also led the Group, through GMR
Infrastructure's maiden IPO in 2006.
As Chairman - Corporate and International Business he is
responsible for Human Resources, Strategic Finance, Corporate and Strategic
Planning (CSPD), Central Procurement and Corporate Communications functions of
the Group. He is also responsible for the International Business Division,
Sabiha Gocken airport and other Corporate functions such as Corporate IT and
Corporate Integration to name a few.
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.39.97 |
|
UK Pound |
1 |
Rs.79.53 |
|
Euro |
1 |
Rs.63.09 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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
EXPLANATIONS
|
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|