MIRA
INFORM REPORT
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Report Date : |
30.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAHARASHTRA INSTITUTE OF TECHNOLOGY |
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Registered Office : |
Survey No. 124, Paud Road, Kothrud, Pune – 411 038, Maharashtra |
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Country : |
India |
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Year of Establishment : |
1983 |
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Legal Form : |
Educational Institute |
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Line of Business : |
Educational Institute |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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 an educational institute having fine track. Trade relations
are fair. The institute can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Suryakant Mahadik |
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Designation : |
Accounts Assistant |
LOCATIONS
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Registered Office : |
Survey No. 124, Paud Road, Kothrud, Pune – 411 038, Maharashtra, India |
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Tel. No.: |
91-20-30273400 / 30273459 |
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Fax No.: |
91-20-5442770 |
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E-Mail : |
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Website : |
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Location : |
Owned |
MANAGEMENT
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Name : |
Dr. L K Kshirsagar |
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Designation : |
Principal |
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Name : |
Mr. Sharad Chandra Darade |
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Designation : |
Director |
KEY EXECUTIVES
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Board of Trustees : |
v Dr Vishwanath D
Karad, Founder & Managing Trustee v Adv Bhaskarrao E
Avhad v Dr Suresh G
Ghaisas v Prof H M Ganesh
Rao v Prof Prakash B
Joshi, Joint Managing Trustee v Dr Chandrakant S
Pandev v Mr. Tulshiram D
Karad v
Mrs. Kamal B Avhad |
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Managing Committee : |
v Adv Bhaskarrao E
Avhad, President v Prof Vishwanath
D Karad, Executive President & Managing
Trustee v Prof H M Ganesh
Rao, Vice-President v Prof Prakash B
Joshi, Joint Managing Trustee v Dr Chandrakant S
Pandav, Member v Dr. Smt Medha S
Ghaisas, Member v Padmashree Dr
Vijay P Bhatkar, Member v Prof Mangesh T
Karad, Member v Dr. Sunil K Karad, Member |
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Scientific and Technical Advisory Council : |
v Dr R A Mashelkar,
Member, Director General CSIR New Delhi v Dr Vijay
Bhatkar, Chairman ETH Research Lab v Dr V L Kelkar,
Secretary to Govt. of India v Prof S V
Patankar, Professor University of Minnesota, USA v Prof S K Basu,
Professor Emeritus, College of Engineering, Pune and Ex Dy Director, MERADO,
Pune v Dr Sanjay Basu,
Member, General Manager, Research Wing, Sanvik Asia Ltd. Pune v Mr Arvind
Kirloskar, Member, Industrialist v Prof H M Ganesh
Rao, Member, Ex. Principal, Govt. College of Engineering, Pune v Prof J N Wartikar,
Member Former Professor of Mathematics v Prof. Vishwanath
D Karad, Executive President and Director General, MAEER's MIT Pune |
BUSINESS DETAILS
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Line of Business : |
Educational Institute |
GENERAL
INFORMATION
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Bankers : |
Bank of India, Pune |
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Auditors : |
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Name : |
A H Joshi and Company, Chartered Accountants |
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Address : |
Pune |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Principal’s
Profile:
Dr. L .K. Kshirsagar, Professor and Head of the Department of Petroleum and Petrochemical Engineering, has recently assumed responsibility as Principal of Maharashtra Institute of Technology (MIT).
Dr. Kshirsagar has a long and distinguished teaching and research career with MIT and has been in service since 1985.
He is a recipient of the Distinguished Service Award (Middle East Region) of the Society of Petroleum Engineers, International; (2006).
Dr. Kshirsagar proposes to focus his attention on improving results in the examinations, strengthening interdepartmental collaborative research and increasing liaison with the industry and alumni in the interest of the students.
Dr. Kshirsagar would also continue to teach in the Petroleum Engineering Department.
As per Website
Details:
Subject was founded with the collective efforts of many devoted experts
having long and outstanding academic experience in the field of professional education.
The social and political figures, who are all committed to one cause, that is
to create and develop professional education facilities, in order to train
deserving young men and women, who have an ambition to pursue higher studies in
engineering and are desirous of acquiring skills and to make available the much
needed expert personnel and skilled manpower to the fast growing industries and
institutions in the fields of various branches of engineering.
Nestled amidst the verdant and green hills of Pune, MIT during the last
25 years has been a beacon of knowledge.
Breadth of knowledge, quality and flexibility are the hallmarks of all
the under-graduate and postgraduate degree programs conducted at MIT. These
programs arm our students with the skills necessary to meet the demands of a
changing and challenging global environment.
MIT is among the first engineering colleges in the private
sector in Maharashtra and since then remain the flagship
institution of Maharashtra
Academy of Engineering and Educational Research (MAEER).
Today, MIT offers under graduate engineering studies in nine disciplines:
Civil, Mechanical, Mechanical (Sandwich), Electronics & Telecommunication,
Computer, Information Technology, Petroleum, Petro-Chemical, Polymer and
post-graduate studies in three areas: Civil structures, Polymers and Petroleum,
along with industry specific, technology-oriented courses.
MIT has excelled in the field of education and is known today as one of
the foremost centres of education and learning not only in India but the world
over. For its students, it has been a gateway to a professional life. To meet
the demands of changing and challenging global environment, MIT offers academic
programs in Engineering, Medicine, Pharmacy, Management and Insurance in
classroom as well as distance-learning mode.
Students of this college invariably find themselves placed in well-
known industries from India and abroad.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.59 |
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UK Pound |
1 |
Rs. 84.16 |
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Euro |
1 |
Rs. 65.99 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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