MIRA
INFORM REPORT
|
Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VODAFONE ESSAR LIMITED |
|
|
|
|
Formerly Known As : |
HUTCHISON ESSAR
LIMITED |
|
|
|
|
Registered Office : |
Peninsula
Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013,
Maharashtra |
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|
Country : |
India |
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|
Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
21.02.1992 |
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Com. Reg. No.: |
119108 |
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CIN No.: [Company
Identification No.] |
U32200MH1992PLC119108 |
|
|
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH07197B |
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PAN No.: [Permanent
Account No.] |
AAACH5332B |
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|
Legal Form : |
A Closely Held
Public Limited Liability Company. |
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|
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|
Line of Business : |
Providing Telecom
Services. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 360000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is one of
the leading telecom service provider. General financial position is satisfactory.
Payments are usually correct and as per commitments. The company can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered / Corporate Office : |
Peninsula Corporate
Park, Ganpatrao Kadam Marg, Lower
Parel, Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66645000 /
56645000 |
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Fax No.: |
91-22-24963645 /
66661222 / 66661200 |
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E-Mail : |
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Website : |
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Delhi Office : |
C-48, Okhla Industrial Area, Phase II, Delhi - 110020 |
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Tel. No.: |
91-9811090001 |
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Mumbai Office : Tel. No.: Tel No : Fax No : Email : |
Ganpat Rao, Kadam
Marg, Peninsula Corporate Park, Lower Parel, Mumbai – 400013, Maharashtra,
India 91-22-66645000 N M Joshi Marg
Police Station, Opp. BDD Chawl I and 2, Lower Parel, Mumbai – 400 013,
Maharashtra, India 91-22-66645000 91-22-24963645 /
24971069 |
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|
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Karnataka Office: |
Maruti Infotech Centre, Ground Floor, B,11/1, 12/1, Koramangala,
Intermediate Ring Road, Amar Jyoti Layout, Bangalore - 560071 |
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Tel. No.: |
91-80-41193000 |
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Gujarat Office : |
6 Floor SAKAR II, ELLIS Bridge Ahmedabad - 380006 |
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Tel. No.: |
91-26577228/29 |
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Rajasthan Office : |
Gaurav tower, 5th Floor, Malviya Nagar, Jaipur |
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Tel. No.: |
91-9982212950/51/52 |
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Kolkata Office: |
Constantia Office Complex, 4 Floor, 11 UN Bramachari
Street, Kolkata - 700017 |
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Tel No.: |
91-9830098650 |
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|
|
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Uttar Pradesh (East) Office: |
5 Shahnajaf Road, Hazratganj, Lucknow - 226001 |
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Tel No.: |
91-522-6544301 |
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Punjab Office: |
C – 131, Phase – VIII Sas Nagar, Eltop, Industrial Area, Mohali ,
Punjab |
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Tel No.: |
91-172-5090300 |
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|
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Andhra Pradesh Office: |
6 Floor Varun Tower II, Begumput, Hyderabad, Andhra Pradesh-500016 |
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Tel No.: |
91-9885298852 |
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Uttar Pradesh (West) Office: |
135/1 and 137/1,Mangal Pandey Road, University Road Meerut City,
Meerut – Uttar Pradesh – 250004 |
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Tel No.: |
91-9719018501 |
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Chennai and Tamilnadu Office: |
9th
Floor, TVH Beliciaa Towers I , Block No. 94 MRC Nagar, Santhome, Chennai |
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Tel No.: |
91-98841-98841 |
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Haryana Office: |
Yogesh Towers Kunjpura Road, Karnal, Haryana |
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Tel No.: |
91-184-2207410 |
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Kerala Office: |
Ashish Building Shanmugham Road, P.O. Kochin Kerala - 682031 |
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Tel No.: |
91-484-2382281/82/83 |
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Maharashtra and Goa Office: |
The Metropolitan F.P. No.27
Survey No. 21 Old Mumbai Pune Highway Wadekawadi , Shivaji Nagar, Pune – 411
005 |
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Tel No.: |
91-2030116000/01 |
DIRECTORS
|
Name : |
Mr. Analjit
Mohanbhai Singh |
|
Designation : |
Director |
|
Address : |
15, Aurangzeb
Road, New Delhi – 110011, New Delhi |
|
Date of Birth/Age : |
11.01.1954 |
|
Date of Appointment : |
24.04.2006 |
|
Directorship
in Other Companies : |
v
Max Ateev
Limited v
Max New York
Life insurance Company Limited v
Max
Healthcare Institute Limited v
Dynavest
India Private Limited v
IDBI Bank
Limited v
Hero Honda
Motors Limited v
Hero Corporate
Services Limited v
Indian
School of Business v
Grow Talent
Company Limited v
Max Heal
Thstaff International Limited v
Acqvire
Talent Services Limited v
Malsi
Holdings Limited v
Max Medical
Services Private Limited v
Liquid Investment
and Trading Company Limited v
Mohair
Investment and Trading Company Private Limited |
|
|
|
|
Name : |
Mr. Cannion Fok
Ning-Kin |
|
Designation : |
Director |
|
Address : |
1 King Tax
Street, 10th Floor, Kowloon, Hong Kong |
|
Date of Birth/Age : |
22.08.1951 |
|
Date of Appointment : |
31.03.1995 |
|
|
|
|
Name : |
Mr. Frank John
Sixt |
|
Designation : |
Director |
|
Address : |
Flat G / B,
Kinghts Bride, Court No. 28, Barker Road, The Peak, Hong Kong |
|
Date of Birth/Age : |
29.11.1951 |
|
Date of Appointment : |
22.05.1998 |
|
|
|
|
Name : |
Mr.Dennis Lui |
|
Designation : |
Director |
|
Address : |
Duplex 5 Dynasty
Villa, Dynasty Heights, Beacon Hill, Kowloon, Hong Kong |
|
Date of Birth/Age : |
02.03.1951 |
|
Date of Appointment : |
25.09.2001 |
|
|
|
|
Name : |
Mr. Asim Ghosh |
|
Designation : |
Managing Director
|
|
Address : |
64, NCPA
Apartments, ‘B’ Wing, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1947 |
|
Date of Appointment : |
25.09.1998 |
|
|
|
|
Name : |
Mr. Yu Ting Chan |
|
Designation : |
Director |
|
Address : |
6 B, Chenyu
Court, 22-24, Kennedy Road, Hong Kong |
|
Date of
Birth/Age : |
15.10.1950 |
|
Date of
Appointment : |
01.02.2005 |
|
Date of Ceasing
: |
01.02.2005 |
|
Directorship
in Other Companies : |
v
Usha Martin
Telematics limited v
UMT
Investments Limited v
Jaykay
Finholding India Private Limited v
Telecom
Investments India Private Limited |
|
|
|
|
Name : |
Mr. Geoffrey
Donald Carolan |
|
Designation : |
Whole Time
Director |
|
Address : |
12th
Floor Urmi, 65 Worli Sea Face, Mumbai – 400025, Maharashtra, India |
|
Date of
Birth/Age : |
13.03.1966 |
|
Date of
Appointment : |
25.09.2001 |
|
|
|
|
Name : |
Mr. Naryan
Subramaniam Ayyapankav |
|
Designation : |
Director |
|
Address : |
1, Smruthi Plot #
27, Pestom Sagar Road No. 4, Chembur, Mumbai – 400089, Maharashtra, India |
|
Date of
Birth/Age : |
09.11.1960 |
|
Date of
Appointment : |
28.03.2003 |
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Date of
Ceasing : |
20.05.2004 |
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|
|
|
Name : |
Mr. Shivendra
Hukumchand Gupta |
|
Designation : |
Director |
|
Address : |
A1-62, Mahindra
Gardens, S. V. Road, Goregaon – West, Mumbai – 400062, Maharashtra, India |
|
Date of
Birth/Age : |
12.08.1970 |
|
Date of
Appointment : |
28.03.2003 |
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|
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|
Name : |
Mr. Christopher
John Foll |
|
Designation : |
Whole Time
Director |
|
Address : |
9-10, Floor,
Suraj Apartment, Bhulabhai Desai Road, Mumbai – 400026 |
|
Date of
Birth/Age : |
16.08.1956 |
|
Date of
Appointment : |
23.06.2003 |
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|
|
|
Name : |
Mr. B.
Anantharaman |
|
Designation : |
Director |
|
Address : |
EC / 301-302, 3rd
Floor, Emerald Court – I, Essel Towers, Mehrauli, Gurgaon- 122002 |
|
Date of
Birth/Age : |
08.01.1955 |
|
Date of
Appointment : |
23.03.2004 |
|
Directorship in
Other Companies : |
v
Max India
Limited v
Max New York
Life Insurance Company Limited v
Max
Healthcare Institute Limited v
Max
Healthstaff International Limited v
Pharmax
Corporation Limited v
Trophy
Holdings Private Limited v
Alps
Hospital Private Limited v
Neeman Medical
International Asia Limited |
|
|
|
|
Name : |
Mr. Chetan Nanji
Savla |
|
Designation : |
Director |
|
Address : |
402, Amartaru, 3
New, Nagardas Road, Andheri [East], Mumbai – 400069, Maharashtra |
|
Date of
Birth/Age : |
15.07.1968 |
|
Date of Appointment
: |
20.05.2004 |
|
|
|
|
Name : |
Mr. Ravikant
Nandkishori Ruia |
|
Designation : |
Director |
|
Address : |
Bin Hamoodah
Villa, Plot 992, 332/14, Villa 17, Jumeirah, Dubai, U.sA.E |
|
Date of
Birth/Age : |
22.04.1949 |
|
Date of
Appointment : |
01.02.2005 |
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|
|
|
Name : |
Mr. Anshuman
Shashi Ruia |
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Designation : |
Director |
|
Address : |
67 A, Walkeshwar
Road, Opp. Birla School, Walkeshwar, Mumbai – 400006, Maharashtra |
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Date of
Birth/Age : |
11.03.1971 |
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Date of
Appointment : |
01.02.2005 |
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|
|
|
Name : |
Mr. Vikash Hari
Prasad Saraf |
|
Designation : |
Director |
|
Date of
Birth/Age : |
18.12.1968 |
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Date of
Appointment : |
01.02.2005 |
|
|
|
|
Name : |
Mr. Yashodhan
Madhusudan |
|
Designation : |
Director |
|
Address : |
2, Sumit, 31 Carmichael
Road, Mumbai – 400026, Maharashtra |
|
Date of
Birth/Age : |
04.11.1947 |
|
Date of
Appointment : |
01.02.2005 |
|
|
|
|
Name : |
Mr. Sandip S. R.
Das |
|
Designation : |
Whole Time - Director |
|
Address : |
Flat 1001, 10th
Floor, Citadel L. D. Ruparel Marg, Mumbai – 400006, Maharashtra, India |
|
Date of
Birth/Age : |
11.01.1958 |
|
Date of
Appointment : |
24.04.2006 |
|
Directorship
in Other Companies : |
v
Aircel
Digilink India Limited v
Hutchison
Esar Cellular Limited v
Hutchison
Essar Telecom limited v
Hutchison
Essar South Limited v
Hutchison
Telecom East Limited v
Hutchison
Paging Services Private Limited |
|
|
|
|
Name : |
Mr. Tim Keith
Lincoln Pennington |
|
Designation : |
Director |
|
Address : |
Harbour Plaza Hotel,
Hunghom Kowloon, Hong Kong |
|
Date of
Birth/Age : |
24.11.1960 |
|
Date of
Appointment : |
01.02.2005 |
|
|
|
|
Name : |
Mr. Krishnan
Seshan Iyer |
|
Designation : |
Secretary |
|
Address : |
79 Tejal Road No.
2, Hindu Colony, Dadar, Mumbai – 400014, Maharashtra, India |
|
Date of
Birth/Age : |
09.08.1968 |
|
Date of
Appointment : |
10.12.2003 |
|
|
|
|
Name : |
Mr. Rajesh Begur |
|
Designation : |
Alternative
Director |
|
Address : |
Surya Apartments,
A – 501, Bhulbhai Desai Road, Mumbai – 400016, Maharashtra |
|
Date of
Birth/Age : |
01.10.1964 |
|
Date of
Appointment : |
14.06.2006 |
|
Directorship
in Other Companies : |
v
A. R. A.
Corporate Consultants Private Limited v
Aeneas Advisors
India Private limited v
Pride
Technologies Consulting India Private Limited v
Savvis
Communications Private limited v
Sendo
Cellular Telecom India Private Limited
|
|
|
|
|
Name : |
Mr. Arun Sarin |
|
Designation : |
Director |
|
Address : |
Toad Hall, Old
Avenue, Weybridge, Surrey, KT13 OQE, England, Weybridge – 000
000 |
|
Date of
Birth/Age : |
21.10.1954 |
|
Date of
Appointment : |
08.05.2007 |
|
|
|
|
Name : |
Mr. Canning
Ning-Kin |
|
Designation : |
Director |
|
Address : |
1 King Tak Street,
10th Floor, Kowloon, Hong Kong |
|
Date of
Birth/Age : |
22.08.1951 |
|
Date of
Appointment : |
31.03.1995 |
|
|
|
|
Name : |
Mr. Paul Michael
Donovan |
|
Designation : |
Director |
|
Address : |
37 Park Town,
Oxford ox26SL, United Kingdom |
|
Date of
Birth/Age : |
28.06.1958 |
|
Date of
Appointment : |
08.05.2007 |
|
|
|
|
Name : |
Mr. Gavin John
Darby |
|
Designation : |
Director |
|
Address : |
Rodona House,
Rodona Weybridge, Surrey Weybridge KT13ONP, United Kingdom |
|
Date of
Birth/Age : |
15.02.1956 |
|
Date of
Appointment : |
08.05.2007 |
|
|
|
|
Name : |
Mr. Robert
Nicolas Barr |
|
Designation : |
Director |
|
Address : |
LindField,
Faringdon Road, Abingdon, Oxfordshire
OX14 1 BD, Abingdon – 000000 |
|
Date of
Birth/Age : |
06.06.1958 |
|
Date of Appointment
: |
08.05.2007 |
|
|
|
|
Name : |
Mr. Timothy James
Harrabin |
|
Designation : |
Alternate
Director |
|
Address : |
Jasmine House,
The FIRS, Post Office Road, InkPen, Hunger Ford, Berkshire, RG17 9PU,
HungerFord - 0000000 |
|
Date of
Birth/Age : |
10.02.1962 |
|
Date of
Appointment : |
08.05.2007 |
|
|
|
|
Name : |
Mr. Mathew John
Lushington Kirk |
|
Designation : |
Alternate
Director |
|
Address : |
Scotts Farm, Bury
Lane, Bratton Westbury, Wilt Shire, BA13 4RD, Westbury – 000
000 |
|
Date of
Birth/Age : |
10.10.1960 |
|
Date of
Appointment : |
08.05.2007 |
|
|
|
|
Name : |
Mr. Ian Locke |
|
Designation : |
Alternate
Director |
|
Address : |
38 ST Margarets
road, Swindon SN31RX, United Kingdom |
|
Date of
Birth/Age : |
18.02.1970 |
|
Date of
Appointment : |
08.05.2007 |
|
|
|
|
Name : |
Mr. Thomas Eric
Hargreaves |
|
Designation : |
Alternate
Director |
|
Address : |
Desmonds Barn,
Howe Farm, Howe Road, Watlington, Oxfordshire, OX49 5EY, Watlington - 000000 |
|
Date of
Birth/Age : |
13.02.1970 |
|
Date of
Appointment : |
08.05.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Central
Depository Services India Limited |
|
324265481 |
|
Hutchison
Telecommunications India Limited |
|
18835021 |
|
Gupta Hukumchand
Shivendra |
|
10 |
|
Sunil Ratanlal
Ranka |
|
10 |
|
Krishnan Seshan
Iyer |
|
10 |
|
Al-Amin
Investments Limited, Mauritius |
|
15940496 |
|
Asian
Telecommunication Investments Mauritius Limited |
|
19238254 |
|
CCII Mauritius
Inc. Mauritius |
|
8756637 |
|
Essar Telecom India
Holdings Limited, Mauritius |
|
21254008 |
|
Vilsat
Investments Private Limited Joint Essar Teleholdings Limited |
|
49612857 |
|
Essar
Teleholdings Limited |
|
19796234 |
|
Euro Pacific
Securities Limited, Mauritius |
|
2629091 |
|
Hutchison Telecommunication
India Limited Mauritius, |
|
13045992 |
|
Indusind Telecom
Network Private Limited |
|
17535271 |
|
Jaykay Finholding
India Private Limited |
|
2033170 |
|
Max Telecom
Ventures Limited |
|
10843882 |
|
Mobilvest,
Mauritius |
|
32881788 |
|
Prime Metals
Limited, Mauritius |
|
5258182 |
|
Telecom
Investments India Private Limited |
|
44459886 |
|
Trans Crystal
Limited, Mauritius |
|
28669371 |
|
Usha Martin
Telematics Limited |
|
32310362 |
Equity Share Break up:
|
S.No. |
Category
|
Percentage |
|
1 |
Directors or
Relatives of Directors |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Telecom
Services. |
|
|
|
|
Products : |
Telecom Services |
GENERAL
INFORMATION
|
No. of Employees : |
2000 |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Financial Institution: |
IL and FS Trust Company Limited IL and FS Financial Centre, Plot No. C-22, G Block, BA, Kurla Complex Bandra
E, Mumbai – 400 051, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Chartered Accountant
Chartered Accountant |
|
Address : |
|
|
|
|
|
Associates/Subsidiaries : |
CIN No. :
U64201DL1997PLC088088
CIN No. : U32100GJ1995PLC035282
CIN No. :
L64202DL1997PLC088087
CIN No. :
U74899DL1995PLC074451
CIN No. : U32204WB1992PLC079998
CIN No.
U64202DL1992PLC088087
CIN No.
U74899DL1995PLC074451
CIN No. U64201DL1997PLC088088
CIN No. U32100GJ1995PLC035282
CIN No.
U64202TZ1995PLC00764
CIN No.
U72200DL1997PLC085764
41, Sector 5, Chandigarh
- 160009 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000000 |
Equity Shares |
Rs. 10/-each |
Rs 5000.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs 5000.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
414086850 |
Equity Shares |
Rs. 10/-each |
Rs. 4140.868 millions |
|
|
|
|
|
|
|
Total |
|
Rs. 4140.868 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4140.869 |
3431.005 |
1084.388 |
|
|
2] Share Application Money |
0.000 |
15613.686 |
0.000 |
|
|
3] Reserves & Surplus |
84721.344 |
64265.167 |
4697.572 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
88862.213 |
83309.858 |
5781.96 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10454.870 |
9553.929 |
0.000 |
|
|
2] Unsecured Loans |
7500.000 |
2200.000 |
0.000 |
|
|
TOTAL BORROWING |
17954.87 |
11753.929 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
16.754 |
0.000 |
175.717 |
|
|
|
|
|
|
|
|
TOTAL |
106833.837 |
95063.787 |
5957.677 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6352.064 |
5123.138 |
4878.785 |
|
|
Capital work-in-progress |
330.376 |
211.167 |
560.490 |
|
|
|
|
|
|
|
|
INVESTMENT |
69978.065 |
58193.756 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
3.603 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.359
|
9.827 |
10.444 |
|
|
Sundry Debtors |
1427.244
|
1322.516 |
1115.571 |
|
|
Cash & Bank Balances |
1859.146
|
1393.715 |
2452.541 |
|
|
Other Current Assets |
1788.523
|
786.219 |
706.143 |
|
|
Loans & Advances |
30954.666
|
32634.949 |
343.223 |
|
Total Current Assets |
36043.938
|
36147.226 |
4627.922 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
5758.185
|
4541.834 |
4086.742 |
|
|
Provisions |
112.421
|
73.269 |
22.778 |
|
Total Current Liabilities |
5870.606
|
4615.103 |
4109.520 |
|
|
Net Current Assets |
30173.332
|
31532.123 |
518.402 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
106833.837 |
95063.787 |
5957.677 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
Sales Turnover |
16710.005 |
14149.884 |
12004.675 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Total Income |
16710.005 |
14149.884 |
12004.675 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
3357.509 |
3924.928 |
3099.713 |
|
Provision for Taxation |
0.000 |
204.474 |
558.952 |
|
Profit/(Loss) After Tax |
3357.509 |
3720.454 |
2540.761 |
|
|
|
|
|
|
Export Value |
0.000 |
825.460 |
0.000 |
|
|
|
|
|
|
Expenditure: |
|
|
|
|
Interest |
1060.327 |
254.316 |
0.000 |
|
Depreciation |
1214.410 |
1165.860 |
0.000 |
|
|
|
|
|
|
Total Expenditure |
13352.496 |
10224.956 |
8904.962 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
PAT / Total Income |
(%) |
20.09
|
26.29 |
21.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.09
|
27.74 |
25.82 |
|
|
|
|
|
|
|
Return on Total
Assets (PBT/Total Assets} |
(%) |
2.97
|
9.51 |
32.61 |
|
|
|
|
|
|
|
Return on
Investment (ROI) (PBT/Networth) |
|
0.03
|
0.05 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total
Liability/Networth) |
|
0.26
|
0.20 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
6.13
|
7.83 |
1.13 |
LOCAL AGENCY
FURTHER INFORMATION
History
Subject was incorporated
on 21.02.1992 as Hutchison Max Telecom Limited. The name was changed to Hutchison Essar w.e.f. 25.03.1999.
|
Corporation
identity number or foreign company registrations number of the company |
U32200MH1992PTC119108 |
|
Name of the company
|
HUTCHISON ESSAR
LIMITED |
|
Address |
Hutch Houde,
Ganpat Rao Kadam Marg, Peninsula Corporate Park, Lower Parel, Mumbai –
400013, Maharashtra |
|
This Form is for |
Creation of
charge |
|
Type of Charges |
Hypothecation |
|
Particular of the
charge holder |
CIN :
U66020MH1995PTC095507 IL AND FS TRUST
COMPANY LIMITED IL AND FS
FINANCIAL CENTRE, Plot No. C – 22, G Block - BA, Kurla Complex Bandra E,
Mumbai – 400051, Maharashtra |
|
Nature or
description of the instrument creating charge |
Deed of
hypothecation dated 16.02.2006 executed by the company in favour of IL and FS
Trust Company Limited as Security Trustee – Details in Annexure I |
|
Date of the
instrument creating charge |
16.02.2006 |
|
Amount Secure by
the charge |
Rs. 67100.000 Millions
|
|
Description of
the property charge whether it is a charge on |
Stock in Trade |
|
Particulars of
the Property charged |
Companies all
stocks and receivable and all plant and machinery as described in the deed of
hypothecation dated 30.05.2006 |
Hutch
is the brand name of Hutchison Essar. It established its presence in India in
1994 and was one of the first cellular providers in the city of Mumbai. Over time
it has expanded operations across the country and is one of the most respected
cellular service providers known for providing world class and innovative
services.
WEBSITE DETAILS:
About Vodafone Essar Limited
Vodafone Essar in India is a subsidiary of Vodafone Group
Plc and commenced operations in 1994 when its predecessor Hutchison Telecom
acquired the cellular licence for Mumbai. Vodafone Essar now has operations in
16 circles covering 86% of India's mobile customer base, with over 38.5 million
customers*.
Over the years, Vodafone Essar, under the Hutch brand, has
been named the 'Most Respected Telecom Company', the 'Best Mobile Service in
the country' and the 'Most Creative and Most Effective Advertiser of the Year'.
Vodafone is the world's leading international mobile
communications company. It now has operations in 25 countries across 5
continents and 40 partner networks with over 200 million customers worldwide.
Vodafone has partnered with the Essar Group as its principal joint venture partner
for the Indian market.
The Essar Group is a diversified business corporation with
interests spanning the manufacturing and service sectors like Steel, Energy,
Power, Communications, Shipping & Logistics and Construction. The Group has
an asset base of over Rs.400 billion (US$ 10 billion) and employs over 20000
people.
*Figures from Cellular Operators Association of India,
November 30, 2007.
PRESS RELEASE:
12/3/2007
Vodafone launches Sambhav Card
for special customers on World Disability Day
Offers a prepaid card for customers with hearing and speech
disability
Kolkata, December 03, 2007:Vodafone
Essar, one of India’s leading cellular service providers, today on the occasion
of World Disability Day, announced a unique prepaid Sambhav Card at Rs. 151 for
customers with hearing and speech disability. This card enables them to use the
phone purely for SMS purposes.
This card offers 500 local SMS for just Rs. 151 per month. The
card has a validity of one month and is available in Vodafone Stores across
Kolkata. In addition to the card, a Vodafone team will hold SMS workshops at
institutes partnering with The International Deaf Children´s Society, India to
educate the disabled on how to write and access SMS on their mobile phones.
Sambhav Card
• Prepaid card at Rs. 151
• Offers 500 local SMS
• One month validity
• Vodafone team to organise SMS workshops at institute
Sridhar Rao, Chief Executive Officer, Vodafone Essar East Limited, said
“We at Vodafone are very happy to offer this special service to our special
customers on the occasion of World Disability Day. This product is specially
designed keeping in mind the requirement of speech and hearing disabled
individuals. It is our constant effort to make communication accessible to one
and all and the Sambhav card is an endeavour towards this end.”
“Deafness is a tragic disability which leaves individuals isolated and alone.
They are often excluded from communication between friends and family because
of their inability to hear. I thank Vodafone for joining hands with us in our
mission to empower deaf people by giving them a chance too to make the most of
their moments”, said Brinda Crishna, Director, IDCS – India.
About Vodafone Essar Limited
Vodafone Essar in India is a subsidiary of Vodafone Group Plc and commenced
operations in 1994 when its predecessor Hutchison Telecom acquired the cellular
license for Mumbai. Vodafone Essar now has operations in 16 circles covering
86% of India’s mobile customer base, with over 35.6 million customers*.
Over the years, Vodafone Essar, under the earlier Hutch
brand, has been named the ´Most Respected Telecom Company´, the ´Best Mobile
Service in the country’ and the ‘Most Creative and Most Effective Advertiser of
the Year´.
Vodafone is the world’s leading international mobile communications company. It
now has operations in 25 countries across 5 continents and 40 partner networks
with over 200 million customers worldwide. Vodafone has partnered with the
Essar Group as its principal joint venture partner for the Indian market.
The Essar Group is a diversified business corporation with interests spanning
the manufacturing and service sectors like Steel, Energy, Power,
Communications, Shipping & Logistics and Construction. The Group has an
asset base of over Rs.400 billion (US$ 10 billion) and employs over 20,000
people.
*Figures from Cellular Operators Association of India, October 31, 2007
HUTCHISON ESSAR
IS NOW VODAFONE ESSAR
Hutchison Essar is
now Vodafone Essar. Eventually, the business will market products and services
under the Vodafone brand.
Under the terms of the partnership signed between Vodafone and the Essar Group,
announced in a release issued to the London Stock Exchange earlier today,
Vodafone will have operational control of Vodafone Essar, and Essar will have
rights consistent with its shareholding including proportionate board
representation. Ravi Ruia will be appointed by Vodafone as chairman of Vodafone
Essar, and Arun Sarin will be appointed by Essar as vice-chairman.
Essar will have certain liquidity rights including, between the third and
fourth anniversaries of completion, and subject to regulatory requirements, an
option to sell its 33% shareholding in Vodafone Essar to Vodafone for $5
billion or an option to sell between $1-5 billion worth of Vodafone Essar
shares to Vodafone at an independently appraised fair market trading value.
This follows Vodafone's announcement on 11 February 2007 that it had agreed to
acquire Hutchison Telecommunications International Limited's (HTIL) controlling
interest in Hutchison Essar in which Essar is and will continue to be 33%
shareholder.
Commenting on the new partnership, Arun Sarin, chief executive, Vodafone, said:
"I am delighted that Essar and Vodafone have agreed the terms of an
on-going partnership. Essar has played a key role in transforming this business
into a leading Indian mobile operator. They
look forward to leveraging this experience and working with their
partner as the company enters its next phase of growth in the attractive Indian
telecommunications market. They will be bringing the relevant range of Vodafone
products and services to the Indian consumer."
Ravi Ruia, vice chairman, Essar, added: "It is terrific that they are
joining with the world's leading international mobile company. I welcome them
as our partner into this successful business, which they will now take forward to the next level.
Essar was a founding partner in Hutchison Essar and played an active role in
building the company, including extending network coverage into several
profitable regional markets. By partnering with Vodafone they expect to create further value in the
business."
Rajiv Sarkar / Anindita Sarkar
Genesis Burson-Marsteller
Vodafone: +91 9830703778 / +91 9830060673
email: rajiv.sarkar@bm.com /
anindita.sarkar@bm.com
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.42.86 |
|
UK Pound |
1 |
Rs.83.58 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
54 |
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 |
|