MIRA
INFORM REPORT
|
Report Date : |
08.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AJMER VIDYUT VITARAN NIGAM LIMITED |
|
|
|
|
Registered Office : |
Old Power House, Hathi Bhata, Ajmer, Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
19.06.2000 |
|
|
|
|
Com. Reg. No.: |
016482 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U40109RJ2000SGC016482 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JDHA01323A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Distribution and Supply of Electricity |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 39693708 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a power generation and distributing company owned by the
Rajasthan State Government. Trade relations are fair. Fundamentals are strong
and healthy. Payments are however reported as slow at times, perhaps due to
the slow working nature of the Government departments. The company however can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Old Power House, Hathi Bhata, Ajmer, Rajasthan, India |
|
Tel. No.: |
91-145-2627718 |
|
Fax No.: |
91-145-2630636 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Pashupati Nath Bhandari |
|
Designation : |
Director |
|
Address : |
B-1, Gandhi Nagar, Jaipur, Rajasthan, India |
|
Date of Birth/Age : |
07.03.1941 |
|
Date of Ceasing : |
17.11.2000 |
|
Date of Appointment : |
19.06.2000 |
|
|
|
|
Name : |
Mr. Chandra Shekhar Rajan |
|
Designation : |
Director |
|
Address : |
1/10, Somya Marg, Gandhi Nagar, Jaipur Rajasthan |
|
Date of Birth/Age : |
03.12.1955 |
|
Date of Ceasing : |
29.06.2004 |
|
Date of Appointment : |
19.06.2000 |
|
|
|
|
Name : |
Mr. Umesh Kumar |
|
Designation : |
Director |
|
Address : |
N-13, Bajaj Nagar, Jaipur, Rajasthan |
|
Date of Birth/Age : |
18.04.1958 |
|
Date of Ceasing : |
17.02.2001 |
|
Date of Appointment : |
19.06.2000 |
|
|
|
|
Name : |
Mr. Karni Singh Rathore |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
R1/1, Gokhle Lane, Ajmer – 305001, Rajasthan |
|
Date of Birth/Age : |
01.01.1949 |
|
Date of Ceasing : |
14.08.2002 |
|
Date of Appointment : |
19.07.2000 |
|
|
|
|
Name : |
Mr. Rajendra Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
5/1, Heera Bagh Flats Jaipur, Rajasthan |
|
Date of Birth/Age : |
07.01.1939 |
|
Date of Appointment : |
07.08.2000 |
|
|
|
|
Name : |
Mr. Dheer Chand Samat |
|
Designation : |
Director |
|
Address : |
R 1/3, Chmbal GSS Colony, Hawa Sarak Jaipur – 302019, Rajasthan |
|
Date of Birth/Age : |
01.07.1949 |
|
Date of Ceasing : |
09.12.2003 |
|
Date of Appointment : |
17.11.2000 |
|
|
|
|
Name : |
Mr. Ashok Singhvi |
|
Designation : |
Director |
|
Address : |
3 Raj Bhawan Road, Civil Lines Jaipur, Rajasthan |
|
Date of Birth/Age : |
11.09.1959 |
|
Date of Ceasing : |
23.08.2002 |
|
Date of Appointment : |
17.02.2001 |
|
|
|
|
Name : |
Mr. Bhanwari Lal Arya |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
R1/1, Gokhle Lane, Ajmer – 305001, Rajasthan |
|
Date of Birth/Age : |
19.04.1951 |
|
Date of Ceasing : |
24.06.2003 |
|
Date of Appointment : |
14.08.2002 |
|
|
|
|
Name : |
Mr. Badri Narayan Sharma |
|
Designation : |
Director |
|
Address : |
3 Raj Bhawan Road, Civil Lines Jaipur, Rajasthan |
|
Date of Birth/Age : |
31.07.1959 |
|
Date of Ceasing : |
18.01.2004 |
|
Date of Appointment : |
23.08.2002 |
|
|
|
|
Name : |
Mr. Hinglaj Dan Charan |
|
Designation : |
Director |
|
Address : |
1/8 Vidyut Colony, Jodhpur |
|
Date of Birth/Age : |
10.04.1945 |
|
Date of Ceasing : |
18.01.2004 |
|
Date of Appointment : |
21.02.2003 |
|
|
|
|
Name : |
Mr. Madho Lal Saini |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
R1/1, Gokhle Lane, Ajmer – 305001, Rajasthan |
|
Date of Birth/Age : |
14.05.1945 |
|
Date of Ceasing : |
19.01.2004 |
|
Date of Appointment : |
02.06.2003 |
|
|
|
|
Name : |
Mr. C. K. Mathew |
|
Designation : |
Director and Chairman |
|
Address : |
I-15, Government Quarter, Gandhi Nagar, Jaipur - 015 |
|
Date of Birth/Age : |
26.07.1954 |
|
Date of Ceasing : |
02.12.2004 |
|
Date of Appointment : |
19.01.2004 |
|
|
|
|
Name : |
Mr. Shikhar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
Opposite Maharashtra Mandal, Kuchery Road, Ajmer – Rajasthan |
|
Date of Birth/Age : |
09.07.1970 |
|
Date of Ceasing : |
27.06.2005 |
|
Date of Appointment : |
19.01.2004 |
|
|
|
|
Name : |
Mr. Shiv Krishna Bishnoi |
|
Designation : |
Director |
|
Address : |
R 1/8, Vidyut Colony, Shastri Circle, Jodhpur |
|
Date of Birth/Age : |
01.07.1944 |
|
Date of Appointment : |
24.02.2004 |
|
|
|
|
Name : |
Mr. Ram Gopal Gupta |
|
Designation : |
Director |
|
Address : |
A-430, Vaishali Nagar, Jaipur, Rajasthan |
|
Date of Birth/Age : |
01.07.1948 |
|
Date of Ceasing : |
06.07.2005 |
|
Date of Appointment : |
24.03.2006 |
|
|
|
|
Name : |
Mr. Govind Sharma |
|
Designation : |
Director |
|
Address : |
D-725, Gandhi Nagar, Jaipur, Rajasthan |
|
Date of Birth/Age : |
12.02.1956 |
|
Date of Ceasing : |
04.07.2005 |
|
Date of Appointment : |
03.03.2004 |
|
|
|
|
Name : |
Mr. Vijay Shankar Singh |
|
Designation : |
Director |
|
Address : |
20/A, Heera Bagh, Sawai Manisingh, Jaipur, Rajasthan |
|
Date of Birth/Age : |
25.07.1955 |
|
Date of Ceasing : |
15.12.2004 |
|
Date of Appointment : |
29.06.2004 |
|
|
|
|
Name : |
Mr. Salauddin Ahmad |
|
Designation : |
Director and Chairman |
|
Address : |
D-722, Somya Bagh, Gandhi Nagar, Jaipur, Rajasthan |
|
Date of Birth/Age : |
15.02.1952 |
|
Date of Ceasing : |
25.06.2005 |
|
Date of Appointment : |
04.12.2004 |
|
|
|
|
Name : |
Mr. Yaduvendra Mathur |
|
Designation : |
Director |
|
Address : |
E-66, Bhagat Singh Marg, C-Scheme, Jaipur, Rajasthan |
|
Date of Birth/Age : |
19.11.1959 |
|
Date of Appointment : |
15.12.2004 |
|
|
|
|
Name : |
Mr. Shreemat Pandey |
|
Designation : |
Director and Chairman |
|
Address : |
D-602, Gandhi Nagar, Jaipur, Rajasthan |
|
Date of Birth/Age : |
12.04.1956 |
|
Date of Appointment : |
25.06.2005 |
|
|
|
|
Name : |
Mr. Dinesh Kumar |
|
Designation : |
Managing Director |
|
Address : |
R-1/1, Gokhale Lane, Civil Lines, Ajmer, Rajasthan |
|
Date of Birth/Age : |
17.05.1972 |
|
Date of Appointment : |
27.06.2005 |
|
|
|
|
Name : |
Mr. Shyam S. Agarwal |
|
Designation : |
Director |
|
Address : |
1/1 Directors Residence, OTS, Jaipur Rajasthan |
|
Date of Birth/Age : |
27.12.1956 |
|
Date of Appointment : |
04.07.2005 |
|
|
|
|
Name : |
Mr. Raguveer Prasad Goyal |
|
Designation : |
Director |
|
Address : |
T-2, Park Sundram Scheme No.8, Gandhi Path, Vaishali Nagar, Jaipur
Rajasthan |
|
Date of Birth/Age : |
05.08.1947 |
|
Date of Appointment : |
18.07.2005 |
|
|
|
|
Name : |
Mr. Munna Lal Gupta |
|
Designation : |
Director |
|
Address : |
60-69, Rajat Path, Mansarovar Jaipur – 302020, Rajasthan |
|
Date of Birth/Age : |
23.07.1952 |
|
Date of Appointment : |
01.05.2007 |
|
|
|
|
Name : |
Mr. Shivji Ram Bansal |
|
Designation : |
Director |
|
Address : |
R-1/1 Vidyut Colony, Near Shastri Circle, Jodhpur – 342003, Rajasthan,
India |
|
Date of Birth/Age : |
06.08.1947 |
|
Date of Appointment : |
04.05.2007 |
|
|
|
|
Name : |
Mr. Ashok Kumar Jain |
|
Designation : |
Whole Time Director |
|
Address : |
68-69, Kalyan Colony, Malviya Nagar, Jaipur – 302020, Rajasthan |
|
Date of Birth/Age : |
16.05.1950 |
|
Date of Appointment : |
11.06.2007 |
|
|
|
|
Name : |
Mr. Subhash Chandra Datta |
|
Designation : |
Managing Director |
|
Address : |
553/07, Udai Marg, Raja Park, Jaipur – 302004, Rajasthan, India |
|
Date of Birth/Age : |
08.01.1948 |
|
Date of Appointment : |
06.10.2006 |
|
|
|
|
Name : |
Mr. Sanjay Malhotra |
|
Designation : |
Director |
|
Address : |
R-1/1 Chamber Residential Colony, Jaipur – 302005, Rajasthan, India |
|
Date of Birth/Age : |
14.02.1968 |
|
Date of Appointment : |
22.11.2006 |
|
|
|
|
Other Directorship Company: |
Rajasthan Rajya Vidyut Prasaran Nigam Limited Director U40109RJ2000SGC016485 Rajasthan Rajya Vidyut Utpadan Nigam Limited Director U40102RJ2000SGC016484 Jaipur Vidyut Vitran Nigam Limited Director U40109RJ2000SGC016486 Jodhpur Vidyut Vitran Nigam Limited Director U40109RJ2000SGC016483 |
KEY EXECUTIVES
|
Name : |
Mr. Rashid Jeelani Malik |
|
Designation : |
Company Secretary |
|
Address : |
R-3/2, Gokhale Lane, Civil lines, Ajmer |
|
Date of Birth/Age : |
12.12.1971 |
|
Date of Appointment : |
16.04.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajasthan of Governor |
|
236999990 |
|
Mr. Rajendra Kumar Agarwal |
|
1 |
|
Mr. Shiv Krishna Bishnoi |
|
1 |
|
Mr. Ram Gopal Gupta |
|
1 |
|
Mr. Yaduvendra Mathur |
|
1 |
|
Mr. Shreemat Pandey |
|
1 |
|
Mr. Dinesh Kumar |
|
1 |
|
Mr. Shyam S. Agarwal |
|
1 |
|
Mr. Vinod Pandya |
|
1 |
|
Mr. B. L. Sharma |
|
1 |
|
Mr. Raguveer Prasad Goyal |
|
1 |
|
|
|
|
|
Total |
|
237000000 |
|
|
|
|
|
Category |
|
Percentage |
|
|
|
|
|
Government (Central and State) |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distribution and Supply of Electricity |
GENERAL
INFORMATION
|
Bankers : |
Collectorate Branch, Jaipur – 302001, Rajasthan, India
Chamber Bhawan, M I Road, Jaipur – 302001, Rajasthan, India
Opp. Chanakya
Restaurant, M I Road, Jaipur – 302001, Rajasthan, India |
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Rajasthan Rajya Vidyut Prasaran Nigam Limited U40109RJ2000SGC016485 Rajasthan Rajya Vidyut Utpadan Nigam Limited U40102RJ2000SGC016484 Jaipur Vidyut Vitran Nigam Limited U40109RJ2000SGC016486 Jodhpur Vidyut Vitran Nigam Limited U40109RJ2000SGC016483 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000000 |
Equity Share |
Rs.10/- each |
Rs.8000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
395500000 |
Equity Share |
Rs.10/- each |
Rs.3955.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3955.000 |
3125.000 |
2370.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5968.427 |
4143.780 |
3688.051 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9923.427 |
7268.780 |
6058.051 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22656.697 |
18566.698 |
15437.255 |
|
|
2] Unsecured Loans |
4561.982 |
4094.383 |
3419.992 |
|
|
TOTAL BORROWING |
27218.679 |
22661.081 |
18857.247 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
37142.106 |
29929.861 |
24915.298 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
18078.049 |
13985.894 |
10461.056 |
|
|
Capital work-in-progress |
1897.097 |
1278.418 |
944.280 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2605.586
|
1813.757 |
682.308 |
|
|
Sundry Debtors |
5931.091
|
5414.535 |
4644.727 |
|
|
Cash & Bank Balances |
816.526
|
443.635 |
306.107 |
|
|
Other Current Assets |
30142.037
|
23624.240 |
20321.720 |
|
|
Loans & Advances |
373.101
|
72.507 |
99.046 |
|
Total
Current Assets |
39868.341
|
31368.674 |
26053.908 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
22739.132
|
16810.922 |
12691.886 |
|
|
Provisions |
62.690
|
31.345 |
31.237 |
|
Total
Current Liabilities |
22801.822
|
16842.267 |
12723.123 |
|
|
Net Current Assets |
17066.519
|
14526.407 |
13330.785 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
100.441 |
139.142 |
179.177 |
|
|
|
|
|
|
|
|
TOTAL |
37142.106 |
29929.861 |
24915.298 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
21118.929 |
20076.256 |
17227.175 |
|
|
Other Income |
8136.832 |
6839.880 |
7644.612 |
|
|
Total Income |
29255.761 |
26916.136 |
24871.787 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
NA |
NA |
NA |
|
|
Provision for Taxation |
NA |
NA |
NA |
|
|
Profit/(Loss) After Tax |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Purchases made for re-sale |
23154.875 |
22082.416 |
20698.468 |
|
|
Salaries, Wages, Bonus, etc. |
1304.837 |
1245.698 |
1088.338 |
|
|
Managerial Remuneration |
0.389 |
0.315 |
0.302 |
|
|
Payment to Auditors |
0.159 |
0.137 |
0.253 |
|
|
Interest |
2620.433 |
1979.463 |
1783.651 |
|
|
Insurance Expenses |
0.000 |
0.000 |
0.000 |
|
|
Power & Fuel |
0.000 |
0.000 |
0.000 |
|
|
Depreciation & Amortization |
1224.231 |
965.340 |
793.987 |
|
|
Other Expenditure |
950.837 |
642.767 |
506.788 |
|
Total Expenditure |
29255.761 |
26916.136 |
24871.787 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.04
|
5.43 |
5.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.86 |
2.05 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U40109RJ2000SGC016482 |
|
Name of the
Company |
AJMER VIDYUT VITARAN NIGAM LIMITED |
|
Address |
Old Power House, Hathi Bhata, Ajmer, Rajasthan, India |
|
This form is for |
Creation of
Charge |
|
Type of Charge |
Transformers and
Metering Equip etc worth Rs. 502.400 Millions |
|
Particulars of the
charge holder |
The Bank of
Rajasthan Limited Opp. Chanakya
Restaurant, M I Road, Jaipur – 302001, Rajasthan, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Term Loan
agreement executed on 13.07.2007 securing STL of Rs.500.000 Millions by
hypothecation of transformers, metering equipment and circuit breakers of
Chittorgarh circle as detailed in the schedule to the agreement. |
|
Date of the
instrument creating or modifying the charge |
13.07.2007 |
|
Amount secured by
the charge |
Rs.500.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: 3.25% below BPLR
of the Bank, Payable with monthly rests. Terms of
repayment: Repayable in 3
half yearly installments: At the end of 24th
month Rs.166.666 Millions At the end of 30th
month Rs.166.666 Millions At the end of 36th
month Rs.166.666 Millions Margin: Nil Extent and
operation of the charge: This charge will operate
as first charge in favour of the Bank |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of
transformers, equipment of chittorgarh circle i.e. power transformers,
Distribution Transformer, single phase metering equipment and circle breakers
with Rs.502.400 Millions |
|
Particular of the
present modification |
NA |
|
Name of the company |
AJMER VIDYUT VITARAN NIGAM LIMITED |
|
Presented By |
Mr. R J Malik Company Secretary |
|
1) Date and description of instrument creating the change |
Agreement dated
28.02.2001 for hypothecation of entire current assets to secure a ailment of
C. C. Limit |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.50.000 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 |
Hypothecation of
entire current assets viz, Raw Material, Consumable Stores such as
transformers, Condustors, Meters Steel, Poles, Spares and Other Electrical
Equipments, Book Debts and Other Current Assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interests: PLR + 1.75%
(which presently works out to 14.25% p.a. with quarterly rests subject to
charge from time to time. Margin: 30% |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
Bikaner and Jaipur Collectorate
Branch, Jaipur, Rajasthan, India |
|
6) Date and brief description of instrument modifying the charge |
Renewal of cash
credit limit of Rs.50.000 Millions as per agreement dated 27.03.2004 Supplemental
Agreement dated 27.03.2004 for hypothecation
of movable assets to secure an
inland (Revolving) Letter of Credit DP of Rs.160.000 Millions In
additional to CC limit of Rs.50.000 Millions and STL of Rs.200.000 Millions |
|
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. |
Enhancement of
overall credit limit from Rs.250.000 Millions to Rs.410.000 Millions by
adding LC of Rs.160.000 Millions as detailed below: i) Cash Credit
Limit Rs. 50.000 Millions Margin: Nil Interests: PTLR minus 3.10% with monthly rests Repayment: Repayable in 36 months in three equal
installments at the end of 24th months, 30th month and
36th months Collateral Security: State Government Guarantee Irrevocable
Letter of Authority ii) Inland Letter
of credit –DP: Rs.160.000 Millions Margin: 5% by way of cash or earmaking of DP in Cash Credit (hypothecation)
account. Usuance: Nil Period of Sanction: 12 months Collateral Security: Application cum indemnity letter Already charged
current assets will now cover overall credit facility of Rs.410.000 Millions
in place of Rs.250.000 Millions earlier |
PROFILE:
Subject has been established under the Companies
Act, 1956 by Government of Rajasthan. The subject has
been created with the principal object of engaging in the
business of distribution and supply of electricity in 10 districts of
Rajasthan, namely Ajmer, Bhilwara, Nagaur, Sikar, Jhunjhunu,
Udaipur, Banswara, Chittorgarh, Rajsamand, and Doongarpur. The area
of operation of subject is 87256 sq. Km. and the population in this
area is Rs.18.600 Millions as per 1991 census. The power supply in
the subject is managed by 8 distribution circles i.e.
Ajmer, Bhilwara, Nagaur, Udaipur, Chittorgarh, Banswara, Sikar and
Jhunjhunu.
ADMINISTRATIVE STRUCTURE.
Subject is managed by the Board of Directors,
Chairman and Managing Director is the Chief Executive. He
is assisted by various departmental heads at the
corporate level. The field organisation is divided into 8
operation and maintenance circle under three zones. Each circle is further
divided into divisions and sub divisions which are the lowest operational
unit.
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.40.53 |
|
UK Pound |
1 |
Rs.81.54 |
|
Euro |
1 |
Rs.62.40 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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 |
|