MIRA
INFORM REPORT
|
Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VODAFONE ESSAR LIMITED |
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Formerly Known As : |
HUTCHISON ESSAR
LIMITED |
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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) : |
31.03.2008 |
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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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Line of Business : |
Providing Telecom
Services. |
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 460000000 |
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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
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Registered / Corporate Office : |
Peninsula
Corporate Park, Ganpatrao Kadam Marg,
Lower Parel, Mumbai - 400013, Maharashtra, India |
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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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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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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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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 |
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Designation : |
Director |
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Address : |
15, Aurangzeb
Road, New Delhi – 110011, New Delhi |
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Date of Birth/Age : |
11.01.1954 |
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Date of Appointment : |
24.04.2006 |
|
Directorship in
Other Companies : |
·
Max Ateev
Limited ·
Max New York
Life insurance Company Limited ·
Max
Healthcare Institute Limited ·
Dynavest
India Private Limited ·
IDBI Bank
Limited ·
Hero Honda
Motors Limited ·
Hero
Corporate Services Limited ·
Indian
School of Business ·
Grow Talent
Company Limited ·
Max Heal
Thstaff International Limited ·
Acqvire
Talent Services Limited ·
Malsi
Holdings Limited ·
Max Medical
Services Private Limited ·
Liquid
Investment and Trading Company Limited ·
Mohair
Investment and Trading Company Private Limited |
|
|
|
|
Name : |
Mr. Cannion Fok
Ning-Kin |
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Designation : |
Director |
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Address : |
1 King Tax
Street, 10th Floor, Kowloon, Hong Kong |
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Date of Birth/Age : |
22.08.1951 |
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Date of Appointment : |
31.03.1995 |
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Name : |
Mr. Frank John
Sixt |
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Designation : |
Director |
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Address : |
Flat G / B,
Kinghts Bride, Court No. 28, Barker Road, The Peak, Hong Kong |
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Date of Birth/Age : |
29.11.1951 |
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Date of Appointment : |
22.05.1998 |
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|
Name : |
Mr.Dennis Lui |
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Designation : |
Director |
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Address : |
Duplex 5 Dynasty
Villa, Dynasty Heights, Beacon Hill, Kowloon, Hong Kong |
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Date of Birth/Age : |
02.03.1951 |
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Date of Appointment : |
25.09.2001 |
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Name : |
Mr. Asim Ghosh |
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Designation : |
Managing Director
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Address : |
64, NCPA
Apartments, ‘B’ Wing, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Date of Birth/Age : |
07.12.1947 |
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Date of Appointment : |
25.09.1998 |
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Name : |
Mr. Yu Ting Chan |
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Designation : |
Director |
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Address : |
6 B, Chenyu Court,
22-24, Kennedy Road, Hong Kong |
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Date of
Birth/Age : |
15.10.1950 |
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Date of
Appointment : |
01.02.2005 |
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Date of
Ceasing : |
01.02.2005 |
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Directorship
in Other Companies : |
·
Usha Martin
Telematics limited ·
UMT
Investments Limited ·
Jaykay Finholding
India Private Limited ·
Telecom
Investments India Private Limited |
|
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Name : |
Mr. Geoffrey
Donald Carolan |
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Designation : |
Whole Time
Director |
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Address : |
12th
Floor Urmi, 65 Worli Sea Face, Mumbai – 400025, Maharashtra, India |
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Date of
Birth/Age : |
13.03.1966 |
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Date of
Appointment : |
25.09.2001 |
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Name : |
Mr. Naryan
Subramaniam Ayyapankav |
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Designation : |
Director |
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Address : |
1, Smruthi Plot #
27, Pestom Sagar Road No. 4, Chembur, Mumbai – 400089, Maharashtra, India |
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Date of
Birth/Age : |
09.11.1960 |
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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 |
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Designation : |
Director |
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Address : |
A1-62, Mahindra
Gardens, S. V. Road, Goregaon – West, Mumbai – 400062, Maharashtra, India |
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Date of
Birth/Age : |
12.08.1970 |
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Date of
Appointment : |
28.03.2003 |
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Name : |
Mr. Christopher
John Foll |
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Designation : |
Whole Time
Director |
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Address : |
9-10, Floor,
Suraj Apartment, Bhulabhai Desai Road, Mumbai – 400026 |
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Date of
Birth/Age : |
16.08.1956 |
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Date of
Appointment : |
23.06.2003 |
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Name : |
Mr. B.
Anantharaman |
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Designation : |
Director |
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Address : |
EC / 301-302, 3rd
Floor, Emerald Court – I, Essel Towers, Mehrauli, Gurgaon- 122002, India |
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Date of
Birth/Age : |
08.01.1955 |
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Date of
Appointment : |
16.06.2007 |
|
Directorship
in Other Companies : |
·
Max India
Limited ·
Max New York
Life Insurance Company Limited ·
Max
Healthcare Institute Limited ·
Max
Healthstaff International Limited ·
Pharmax
Corporation Limited ·
Trophy
Holdings Private Limited ·
Alps
Hospital Private Limited ·
Neeman
Medical International Asia Limited |
|
|
|
|
Name : |
Mr. Chetan Nanji
Savla |
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Designation : |
Director |
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Address : |
402, Amartaru, 3
New, Nagardas Road, Andheri [East], Mumbai – 400069, Maharashtra |
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Date of
Birth/Age : |
15.07.1968 |
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Date of
Appointment : |
20.05.2004 |
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|
Name : |
Mr. Ravikant Nandkishori
Ruia |
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Designation : |
Director |
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Address : |
Bin Hamoodah
Villa, Plot 992, 332/14, Villa 17, Jumeirah, Dubai, U.sA.E |
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Date of
Birth/Age : |
22.04.1949 |
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Date of
Appointment : |
01.02.2005 |
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|
Name : |
Mr. Anshuman
Shashi Ruia |
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Designation : |
Director |
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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 |
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Designation : |
Director |
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Address : |
2B Saker
Apartments, 71 Pochkanwala Road, Mumbai – 400 025, Maharashtra, India |
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Date of
Birth/Age : |
18.12.1968 |
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Date of
Appointment : |
01.02.2005 |
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|
Name : |
Mr. Yashodhan
Madhusudan |
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Designation : |
Director |
|
Address : |
2, Sumit, 31
Carmichael Road, Mumbai – 400026, Maharashtra |
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Date of
Birth/Age : |
04.11.1947 |
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Date of
Appointment : |
01.02.2005 |
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|
Name : |
Mr. Sandip S. R.
Das |
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Designation : |
Whole Time - Director |
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Address : |
Flat 1001, 10th
Floor, Citadel L. D. Ruparel Marg, Mumbai – 400006, Maharashtra, India |
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Date of
Birth/Age : |
11.01.1958 |
|
Date of
Appointment : |
24.04.2006 |
|
Directorship
in Other Companies : |
·
Aircel
Digilink India Limited ·
Hutchison Esar
Cellular Limited ·
Hutchison
Essar Telecom limited ·
Hutchison
Essar South Limited ·
Hutchison
Telecom East Limited ·
Hutchison
Paging Services Private Limited |
|
|
|
|
Name : |
Mr. Tim Keith
Lincoln Pennington |
|
Designation : |
Director |
|
Address : |
Harbour Plaza
Hotel, Hunghom Kowloon, Hong Kong |
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Date of
Birth/Age : |
24.11.1960 |
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Date of
Appointment : |
01.02.2005 |
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|
Name : |
Mr. Krishnan
Seshan Iyer |
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Designation : |
Secretary |
|
Address : |
79 Tejal Road No.
2, Hindu Colony, Dadar, Mumbai – 400014, Maharashtra, India |
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Date of
Birth/Age : |
09.08.1968 |
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Date of
Appointment : |
10.12.2003 |
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|
Name : |
Mr. Rajesh Begur |
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Designation : |
Alternative
Director |
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Address : |
Surya Apartments,
A – 501, Bhulbhai Desai Road, Mumbai – 400016, Maharashtra |
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Date of
Birth/Age : |
01.10.1964 |
|
Date of
Appointment : |
14.06.2006 |
|
Directorship
in Other Companies : |
·
R. A.
Corporate Consultants Private Limited ·
Aeneas
Advisors India Private limited ·
Pride
Technologies Consulting India Private Limited ·
Savvis
Communications Private limited ·
Sendo
Cellular Telecom India Private Limited
|
|
|
|
|
Name : |
Mr. Arun Sarin |
|
Designation : |
Director |
|
Address : |
Toad Hall, Old Avenue,
Weybridge, Surrey, KT13 AQE United Kingdom |
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Date of
Birth/Age : |
21.10.1954 |
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Date of
Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mr. Canning
Ning-Kin |
|
Designation : |
Director |
|
Address : |
1 King Tak
Street, 10th Floor, Kowloon, Hong Kong |
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Date of
Birth/Age : |
22.08.1951 |
|
Date of
Appointment : |
31.03.1995 |
|
|
|
|
Name : |
Mr. Paul Michael
Donovan |
|
Designation : |
Director |
|
Address : |
26, William Lucky
Way, Oxford OX 26EQ, United Kingdom |
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Date of Birth/Age
: |
28.06.1958 |
|
Date of
Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mr. Gavin John
Darby |
|
Designation : |
Director |
|
Address : |
Rodona House,
Rodona Weybridge, Surrey Weybridge KT13ONP, United Kingdom |
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Date of
Birth/Age : |
15.02.1956 |
|
Date of
Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mr. Robert
William Barr |
|
Designation : |
Director |
|
Address : |
LindField,
Faringdon Road, Abingdon, Oxfordshire
OX14 1 BD, United Kingdom |
|
Date of
Birth/Age : |
06.06.1958 |
|
Date of Appointment
: |
15.06.2007 |
|
|
|
|
Name : |
Mr. Timothy James
Harrabin |
|
Designation : |
Alternate
Director |
|
Address : |
Jasmine House,
The FIRS, Post Office Road, InkPen, Hunger Ford, Berkshire, RG17 9PU,
HungerFord - 0000000 |
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Date of
Birth/Age : |
10.02.1962 |
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Date of
Appointment : |
22.09.2007 |
|
|
|
|
Name : |
Mr. Mathew John
Lushington Kirk |
|
Designation : |
Alternate
Director |
|
Address : |
Scotts Farm, Bury
Lane, Bratton Westbury, Wilt Shire, BA13 4RD, United Kingdom |
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Date of
Birth/Age : |
10.10.1960 |
|
Date of
Appointment : |
22.09.2007 |
|
|
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|
Name : |
Mr. Ian Locke |
|
Designation : |
Alternate
Director |
|
Address : |
38 ST Margarets
road, Swindon SN31RX, United Kingdom |
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Date of
Birth/Age : |
18.02.1970 |
|
Date of
Appointment : |
28.02.2008 |
|
|
|
|
Name : |
Mr. Thomas Eric
Hargreaves |
|
Designation : |
Alternate
Director |
|
Address : |
Desmonds Barn,
Howe Farm, Howe Road, Watlington, Oxfordshire, OX49 5EY, United Kingdom |
|
Date of
Birth/Age : |
13.02.1970 |
|
Date of Appointment
: |
22.09.2007 |
|
|
|
|
Name : |
Mr. Vittorio Ezio
Colao |
|
Designation : |
Director |
|
Address : |
22, Brahmam
Gardens, London SW50JE, United Kingdom |
|
Date of
Birth/Age : |
03.10.1961 |
|
Date of
Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mr. Prashant
Shashi Ruia |
|
Designation : |
Director |
|
Address : |
Bin Hamoodah
Villa, Plot 992, 332/14 Villa, 17 Jumeirah Dubai, UAE |
|
Date of
Birth/Age : |
04.06.1969 |
|
Date of
Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mr. Chittranjan
Dua |
|
Designation : |
Director |
|
Address : |
88 Sunder Nagar,
New Delhi – 110 003, India |
|
Date of
Birth/Age : |
03.11.1951 |
|
Date of
Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mrs. Jennifer
John Bryant |
|
Designation : |
Director |
|
Address : |
7B, Prembridge
Villas, London W113EN, United Kingdom |
|
Date of
Birth/Age : |
06.03.1957 |
|
Date of
Appointment : |
22.09.2007 |
|
|
|
|
Name : |
Mr. Andrew Nigel
Halford |
|
Designation : |
Whole Time
Director |
|
Address : |
The Oxdrove House,
Burghclere, Newbury, Berkshire UKRG209HJ |
|
Date of
Birth/Age : |
18.03.1959 |
|
Date of
Appointment : |
29.07.2008 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 10.09.2008)
|
Names of Shareholders |
No. of Shares |
|
Central
Depository Services India Limited |
395251799 |
|
Vodafone Telecommunications
(India) Limited |
18835021 |
|
Telecom
Investments India Private Limited |
30 |
|
|
|
|
Total |
414086850 |
(As on 15.06.2007)
|
Names of Shareholders |
No. of Shares |
|
Al-Amin
Investments Limited, Mauritius |
19238530 |
|
Asian
Telecommunication Investments Mauritius Limited, Mauritius |
23218582 |
|
CCII Mauritius
Inc. Mauritius |
10568355 |
|
Essar Com
Limited, Mauritius |
25651389 |
|
Essar
Communications Limited, Mauritius |
65634887 |
|
Essar
Communications Holdings Private Limited |
45425328 |
|
Euro Pacific
Securities Limited, Mauritius |
3173041 |
|
Vodafone
Telecommunications (India) Limited, Mauritius |
19642064 |
|
Omega Telecom
Holdings Private Limited |
21163258 |
|
Jaykay Finholding
(India) Private Limited |
2122557 |
|
Mobilvest,
Mauritius |
39684917 |
|
Prime Metals
Limited, Mauritius |
6346082 |
|
Telecom
Investments India Private Limited |
53658489 |
|
Trans Crystal
Limited, Mauritius |
34600965 |
|
Usha Martin
Telematics Limited |
25123355 |
|
|
|
|
Total |
395251799 |
Equity Share Break up: (As on 14.09.2008)
|
Category
|
Percentage |
|
Foreign holdings
(Foreign institutional investor(s), Foreign companie(s) Foreign financial
institution(S), Non-resident Indian(s) or Overseas corporate bodies or Others |
64.38 |
|
Bodies corporate |
35.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Telecom
Services. |
|
|
|
|
Products : |
Telecom Services |
GENERAL
INFORMATION
|
No. of Employees : |
2000 |
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Bankers : |
Not Available |
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Facilities : |
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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 |
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Auditors : |
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Name : |
·
Natraj
Ramkrishna Chartered Accountant ·
Neeraj Gupta Chartered Accountant Address : 252, Veer Savarkar Marg, Shivaji Park,
Dadar, Mumbai – 400 028, Maharashtra, India ·
Deloitte
Haskins and Sells Chartered Accountants Address : 12, Dr. Annie Besant Road, Opp. Shiv
Sagar Estate, Worli, Mumbai – 400 018, Maharashtra, India |
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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
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Fellow Subsidiary : |
·
BFKT
(Thailand) Limited, Thailand (upto May 7, 2007) * ·
Hutchison 3G
HK Limited, Hong Kong (upto May 7, 2007) * ·
Hutchison
Telephone Company Limited, Hong Kong (upto May 7, 2007) * ·
Hutchison
Telecommunication Lanka (Private) Limited, Sri Lanka (upto May 7, 2007) * ·
Hutchison
Telephone (Macau) Company Limited, Macau (upto May 7, 2007) * ·
Kasapa
Telecom Limited, Ghana (upto May 7, 2007) * ·
Partner
Communication Company Limited Israel (upto May 7, 2007) * ·
Vodafone
Limited* ·
Vodafone
Malta Limited* ·
Vodafone New
Zealand Limited* ·
Vodafone
Egypt Telecommunications S.A.E. ·
Vodafone
Libertel B.V.* ·
Vodafone
Network Pty Limited* ·
Vodafone D2
GmbH.* ·
Vodafone
Omnitel N.A.* ·
Vodafone
Ireland Limited* ·
Vodafone-Panafon
Hellenic Telecommunication Company S.A.* ·
Safaricom
Limited* ·
Vodafone
Group (Pty) Limited* ·
Vodafone
Fiji Limited* ·
Vodafone
Czech Republic a.s.* ·
Vodafone
Romania S.A.* ·
Vodafone
Portugal-Comunicacoes Pessoals, S.A.* ·
Vodafone
Espana S.A.* ·
Vodafone
Telekomunikasyon A.S.* ·
Vodafone
Group Services Limited* ·
Polkomtel
S.A.* ·
Societe
Francaise du Rediotelephone S.A.* * under section
4(6) of the Companies Act, 1956 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Joint Venture : |
Indus Towers
Limited |
CAPITAL STRUCTURE
(As on 14.09.2008)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000000 |
Equity Shares |
Rs. 10/-each |
Rs 5000.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
414086850 |
Equity Shares |
Rs. 10/-each |
Rs. 4140.869 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.12.2006 |
31.12.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4140.869 |
4140.869 |
3431.005 |
|
|
2] Share Application Money |
0.000 |
0.000 |
15613.686 |
|
|
3] Reserves & Surplus |
88342.136 |
84721.344 |
64265.172 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
92483.005 |
88862.213 |
83309.863 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8737.494 |
10454.870 |
9553.929 |
|
|
2] Unsecured Loans |
21400.000 |
7500.000 |
2200.000 |
|
|
TOTAL BORROWING |
30137.494 |
17954.870 |
11753.929 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
16.754 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
122620.499 |
106833.837 |
95063.792 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7402.922 |
6352.064 |
5123.140 |
|
|
Capital work-in-progress |
2762.963 |
330.376 |
211.169 |
|
|
|
|
|
|
|
|
INVESTMENT |
69724.564 |
69978.065 |
58193.760 |
|
|
DEFERREX TAX ASSETS |
101.366 |
0.000 |
3.603 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.068
|
14.359
|
9.827 |
|
|
Sundry Debtors |
1450.903
|
1427.244
|
1322.515 |
|
|
Cash & Bank Balances |
2360.954
|
1859.146
|
1393.715 |
|
|
Other Current Assets |
923.328
|
1788.523
|
788.914 |
|
|
Loans & Advances |
46644.173
|
30954.666
|
32632.251 |
|
Total Current Assets |
51391.426
|
36043.938
|
36147.222 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
8302.193
|
5758.185
|
4541.834 |
|
|
Provisions |
460.549
|
112.421
|
73.268 |
|
Total Current Liabilities |
8762.742
|
5870.606
|
4615.102 |
|
|
Net Current Assets |
42628.684
|
30173.332
|
31532.120 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
122620.499 |
106833.837 |
95063.792 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.12.2006 |
31.12.2005 |
|
|
Sales Turnover |
27337.561 |
16378.809 |
14149.884 |
|
|
Other Income |
1156.804 |
331.196 |
0.000 |
|
|
Total Income |
28494.365 |
16710.005 |
14149.884 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
3576.294 |
3357.501 |
3924.928 |
|
|
Provision for Taxation |
(76.894) |
(204.640) |
204.474 |
|
|
Profit/(Loss) After Tax |
3653.188 |
3562.141 |
3720.454 |
|
|
|
|
|
|
|
|
Export Value |
1653.800 |
0.000 |
825.460 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Salaries, Wages, Bonus, etc. |
3034.124 |
1332.276 |
0.000 |
|
|
Managerial Remuneration |
344.600 |
33.200 |
0.000 |
|
|
Payment to Auditors |
16.459 |
9.060 |
0.000 |
|
|
Interest |
2487.362 |
1147.688 |
254.316 |
|
|
Insurance Expenses |
25.146 |
18.060 |
0.000 |
|
|
Power & Fuel |
676.226 |
237.625 |
0.000 |
|
|
Depreciation & Amortization |
2357.928 |
1214.411 |
1165.860 |
|
|
Other Expenditure |
15976.226 |
9360.184 |
8805.000 |
|
Total Expenditure |
24918.071 |
13352.504 |
10224.956 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.12.2006 |
31.12.2005 |
|
PAT / Total Income |
(%) |
12.82
|
21.32 |
26.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.08
|
20.50 |
27.74 |
|
|
|
|
|
|
|
Return on Total
Assets (PBT/Total Assets} |
(%) |
6.08
|
7.92 |
9.51 |
|
|
|
|
|
|
|
Return on
Investment (ROI) (PBT/Networth) |
|
0.04
|
0.04 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total
Liability/Networth) |
|
0.42
|
0.27 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
5.86
|
6.14 |
7.83 |
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.
|
Corporate
identity number of the company |
U32200MH1992PTC119108 |
|
Name of the
company |
VODAFONE ESSAR LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Peninsula
Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013,
Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
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, India |
|
Nature of
instrument creating charge |
Deed of
hypothecation – Amendment dated 5th December, 2007 |
|
Date of instrument
Creating the charge |
05.12.2007 |
|
Amount secured by
the charge |
Rs.97100.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest Rate of interest to be fixed under the terms of the individual
facility agreements in respect to debt secured under this charge. ·
Terms of
repayment Terms of repayment are to be defined in the individual facility
agreements in respect to debt secured by this charge ·
Margin Margin is to be defined in the individual facility agreements in
respect to debt secured by this charge. ·
Extent and
operation of the charge A floating charge on all the properties given under point 14 below as
continuing security for the payment / repayment and discharge of the amounts
outstanding in respect to all present and future debt, hypothecated, under
the deed of hypothecation as and by way of first charge to the security
trustee acting for and on behalf of the lenders for the monies advanced or to
be advanced by the lenders from time to time upto an aggregate amount of
Rs.97100 millions |
|
Particulars of
the property charged |
All present and
future tangible and intangible movable assets of the Company including all
movable plant, machinery and other Equipment, installed or lying loose or in
cases in the company’s premises, warehouses, stockyards, work sites or
godowns or those of it’s agents, affiliates, associated or representatives or
at any other place wherever situated as well as all rights, title, interest,
benefits, claims and demands whatsoever of the Company under the present and
future insurance policies. |
|
Particulars of
the present modification |
The total amount secured
under the original Deed of Hypothecation dated 23rd February 2006
was Rs.67100 millions comprising funded facilities upto Rs.55000 millions and
non fund based facilities of up to Rs.12100 millions. The amount is enhanced
to Rs.97100 millions comprising funded facilities upto Rs.85000 millions and
non fund based facilities of up to Rs.12100 millions to be provided by the
lenders. The security created in favour of the Security Trustee shall rank
pari passu inter se all the Lenders
|
|
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.
Year Under
Review – Corporate
The period 2007-08 has been further corporate changes with respect to the
Company and its subsidiaries (VE Group) and the following major events occurred
during the year:
·
Change of Company name and transition from the “Hutch” Brand to the
“Vodafone” Brand
·
Status of acquisition of BPL Mobile Communications Limited (BMCL)
·
Grant of licenses and spectrum to Vodafone Essar Spacetel Limited for
seven circles (VESPL) and transfer of equity shares of VESPL to Vodafone Essar
Gujarat Limited
·
Formation of a Joint Venture – Indus Towers Limited
·
Acquisition of Vodafone Essar Infrastructure Limited (VEIL) and the
setting up of Vodafone Essar Towers Limited (VETL)
Change of
Company name and Brand Transition from “Hutch” to “Vodafone”
The name of the Company was changed from Hutchison Essar Limited to
Vodafone Essar Limited effect from 12 July 2007.
In September 2007, the VE Group successfully achieved a smooth transition
from the erstwhile “Hutch” brand to the present “Vodafone” brand thereby giving
a boost to its market presence in the circles in which it operates. It also
launched “Vodafone Live”, as part of its VAS service during this transition and
the service was well received with tremendous response from the day of its
launch. With this transition, the Company is the only one currently to operate
with an international brand in the Indian telecom Market.
Acquisition of
BMCL - Status
The acquisition of BMCL is still under dispute with the vendors and the
matter has been referred to arbitration. The Hon’ble High Court of Mumbai has
granted a stay against the disposal of the shares of BMCL to any other party,
which has been continued by the Arbitral Tribunal. The Company is confident
that the above will not adversely affect the Company.
Licenses and
Spectrum allocation in VESPL and transfer to Vodafone Essar Gujarat Limited
(“VEGL”)
VESPL, a wholly owned subsidiary of the Company which received licenses
for operating in seven circles – Bihar, Himachal Pradesh, Jammu and Kashmir,
Orissa, Assam, North East and Madhya Pradesh last year has subsequent to the
current accounting period been granted spectrum to commence its operations. The
launch of operations in these seven circles will give VE Group an all-India
presence and takes its operations from the existing 16 circles to 23 circles.
On 1 August, 2007 the Company has sold its 100% holding in Vodafone Essar
Spacetel Limited to its wholly owned subsidiary, VEGL, at par value for a
consideration of Rs. 255 million. Consequently, there has been no gain/loss.
Formation of a
Joint Venture – Indus Towers Limited (“Indus”)
A three way joint venture Tower company named Indus Towers Limited was set
up between the Vodafone Essar Group, the Bharti Group and the Idea Group for
carrying on the business of a Tower Company. The business of the JV Tower
Company would include the setting up and / or acquiring a company to jointly
carry on the activities of setting up and managing the passive infrastructure
in the communication sector like setting up of communication towers, etc. The
Company owns 42% stake in Indus. Going forward, Indus would be one of the main
value creators for the Company and the Group.
Acquisition of
VEIL and setting up of VETL
During the year, the Company has acquired the entire share capital of
Perfect Tribute Impex Private Limited for carrying on the business of providing
passive infrastructure in the communication sector. Subsequent to the
acquisition, the company was renamed as Vodafone Essar Infrastructure Limited.
It is now proposed that this Company will be used as the company to hold the
passive infrastructure of the Vodafone Essar Group in the 16 circles relating
to Indus.
VETL was also added to the corporate family of the Vodafone Group in
India. This company was set up with the objective of setting up towers and is
proposed to be used for carrying on the business of providing passive
infrastructure in the seven circles of VESPL.
Operations
The period of 15 months till March 2008 has been a challenging but
profitable period for the Company.
During the period, the Company has widened its subscriber base by launch
of segmented product for period and reduced rate for prepaid and roaming. It
achieved a landmark of reaching 3.5 million subscribers and continues to be the
market leader, having a market share of 26% as at 31 March 2008 in a very
competitive 6 player market. The subscriber base of the Company increased by
45% from subscribers to 3451567.
The Company has further expanded its network to increase its coverage.
During the period the Company added 818 cell sites to enhance its network
coverage, closing with 2170 cell sites as at 31 March 2008.
The subscriber of VE Group as a whole increased by 71.47% on an
annualized basis from 23.3 million subscribers as at 31 December 2006 to 44.13
as at 31 March 2008. This constitutes a 16.90% of the total market share in the
telecom industry (GSM + CDMA_with the VE Group operating in 16 circles, against
23 circles in which the major competitors operate.
Outlook for
2008-09
The year 2008-09 is expected to be challenging for the Company and the VE
Group due to further consolidation, expected launch of Idea Cellular (by August
2008) and future price drops. Also the full impact of roaming price reduction /
products like talk time thereby reducing the processing fee will be felt in
2008-09 albeit compensated by increased usage by roamers / home subscribers.
Many VAS businesses in line with latest global technology are expected to be
launched during the year further improving the revenue growth. Increase in site
sharing through Indus is expected to being down cost thereby improving margins.
Aggressive network rollout for capacity / coverage is further expected to
improve customer satisfaction level. The rollout of operations in the VESPL
circles is expected to contribute to the all India presence of the VE Group,
whilst the primary growth will continue to be in the existing operations.
The proposed launch of 3G and the introduction of MVNO and number
portability along with the addition of new players are expected to create
further challenges on price and market position for the existing players in the
industry, which will also affect the VE Group.
Fixed Assets
·
Computer Software
·
Leasehold Improvement
·
Plant and Machinery
·
Computer Hardware
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
WEBSITE DETAILS:
Profile
Subject 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. Subject now has operations in 20 circles with over 54.63
million customers*.
Over the years, Subject, 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’.
Subject is the world’s international mobile communications company. It
now has operations in 25 countries across 5 continents and 40 partner networks
with over 269 million customers worldwide. Subject has partnered with the Essar
Group as its principal joint venture partner for the Indian market.
Essar Global Limited (EGL) is a diversified business group spanning the
manufacturing and services sectors of Steel, Energy, Power, Communications,
Shipping ands Logistics, and Projects. EGL has an enterprise value of
approximately USD 50 billion (INR 200,000 crore) and employs 30,000 people
worldwide. The Company has operations and investments in India, Canada, USA,
Africa, the Middle East, the Caribbean and South East Asia.
*Figures from Cellular Operators Association of India, September 30,
2008
PRESS RELEASE
·
Vodafone introduces two new Lifelong Prepaid card options at Rs.199 and
Rs.399
Vodafone Essar, one of India's leading cellular service
providers, has introduced two prepaid card options for new customers in Kolkata
and West Bengal. Customers can choose from either the Rs.199 or the Rs.399
lifelong prepaid packs. In the Rs.199 Lifelong Prepaid card, all local calls
cost Re. 1 per minute. The Rs.399 pack offers customers two consecutive
Vodafone numbers each with lifelong validity. The subscribers for the two consecutive
Vodafone numbers can also enjoy calls at 15 paisa per minute between the two
numbers for 90 days. Existing Vodafone customers can also enjoy calls to any
one Vodafone number at 15 paisa per minute for 30 days with a recharge of
Rs.29.
All lifelong prepaid cards have a talktime of Rs.10 and all
Vodafone bonus cards can be used with these Lifelong Prepaid cards. Customers
need to recharge every six months with Rs.200 to remain connected.
Sridhar Rao, Chief Executive
Officer, Vodafone Essar East Limited, said "With the introduction
of the Lifelong Prepaid plans, we aim to offer our potential customers an
affordable product which will have a strong appeal among the masses. With
the add on Bonus Cards, prepaid customers can get the flexibility to opt for
specific or need-based recharge benefits in tune with their usage patterns.
These plans will enable customers to stay connected at economical rates."
·
Vodafone launches its store in the heart of Kolkata at Park Street
Vodafone Essar, one of India’s leading cellular service
providers, today launched its new Vodafone Store in the heart of Kolkata, at
Park Street. Located at 57, Park Street, Kolkata – 700016, this new store aims
to deliver a complete Vodafone experience to customers. The store was
inaugurated by Sridhar Rao, Chief Executive Officer, Vodafone Essar East
Limited and noted Bengali actress Koyel Mullick. This now takes the number of
Vodafone Stores in Kolkata to 20. To add to the celebration, the new Blackberry
Bold was also unveiled at the store.
Along with the availability of new connections, the Vodafone
handsets and various value added services, the store offers a dedicated area
for customer queries and bill payments. Customers can now look forward to even
faster service as all Vodafone Stores are connected with high speed broadband
connectivity.
Sridhar Rao, Chief Executive
Officer, Vodafone Essar East Limited said, “Park Street is the heart of
Kolkata. This place is abuzz with people from different parts of the city and
we wanted to provide them with an access point. We hope to augment our customer
experience through this store”.
·
Vodafone Lifelong Prepaid now available at Rs.199 only
Vodafone Essar, one of India’s leading cellular service
providers, today announced that its Lifelong Prepaid connection plan will now
be available to customers in Kerala at just Rs.199. With this new and
affordable plan from Vodafone, customers can stay connected for a lifetime and
enjoy a talktime of Rs.10/-. All Vodafone bonus cards can be used along with
the Lifelong Prepaid connection plan.
Suresh Kumar R, Senior Vice
President, Vodafone Essar Kerala, said, “Vodafone has always endeavoured to bring innovative
yet affordable service offerings to its customers. With our new Lifelong
Prepaid plan, we aim to deliver a greater value for money plan for our
customers in Kerala.”
·
Vodafone
Introduces the New BlackBerry Bold Smartphone in India
Vodafone Essar, one of India’s leading cellular
service providers today announced the launch of the BlackBerry Bold smartphone
from Research In Motion (RIM). The BlackBerry Bold delivers outstanding
performance, powerful communications and multimedia applications giving
Vodafone customers an exceptional mobile experience. The BlackBerry Bold is
also the first BlackBerry smartphone to support high-speed HSDPA networks
around the world, making it a “must have” for business professionals and power
users who aspire to strike the work life balance with style.
Crafted from premium materials inside and out,
the BlackBerry Bold smartphone features a stunning HVGA LCD colour display and
precision QWERTY keyboard, surrounded by a lustrous black exterior with satin
chrome finished frame and stylish leatherette backplate, making it one of the
most distinctive smartphones available in the world.
In addition, the BlackBerry Bold smartphone
comes with integrated Wi-Fi and built-in GPS, and it is supported by a wide
range of business and lifestyle applications that can enhance corporate
productivity as well as personal entertainment. Together with its
next-generation mobile processor and fast network access, the BlackBerry Bold
also offers users a high speed web browsing experience with desktop-style
depiction.
The BlackBerry Bold lets customers edit Microsoft Word, Excel and PowerPoint
documents directly on the handset using the preloaded DataViz Documents to Go
software suite, making it easier than ever to stay connected and productive
while on the go.
“India is a thriving and important market for
Research In Motion and we are very excited to be building on our strong
relationship with Vodafone to introduce this best-in-class smartphone to our
mutual customers. The BlackBerry Bold smartphone enhances communications and
empowers business professionals to make the most of their time wherever they
go, and it does so with elegance and style,” said Mr. Jim Balsillie, co-CEO,
Research In Motion.
“The launch of the new BlackBerry Bold smartphone in India
reiterates our commitment towards the customer experience. The BlackBerry Bold
will enable our customers to stay connected efficiently with their professional
and personal lives,” said Mr. Harit Nagpal, Director - Marketing and New
Business, Vodafone Essar.
Priced at Rs. 34,990/-, the BlackBerry Bold smartphone is expected to be
available by the end of September, 2008 at select Vodafone Stores across the
country.
Key features of the BlackBerry Bold smartphone
from Vodafone India include:
·
An elegant design measuring 114mm x 66mm x 15mm and weighing
approximately 136 grams
·
Tri-band HSDPA and quad-band EDGE support for global roaming*
·
Stunning HVGA (480x320 resolution at 217 ppi) color display with
integrated lens that provides eye-popping definition and clarity
·
Enhanced, HTML browser that delivers high performance web browsing
with desktop-style depiction
·
Enterprise-grade Wi-Fi (802.11 a/b/g)
·
Built-in GPS with support for location based applications and
services including geotagging; comes with BlackBerry Maps preinstalled
·
1 GB on-board storage memory, as well as a convenient externally
accessible microSD/SDHC memory card slot** for up to 16GB of additional storage
·
A removable/rechargeable 1500 mAhr battery
·
DataViz Documents To Go preinstalled, enabling customers to edit Microsoft
Word, Excel and PowerPoint files on the smartphone
·
2 megapixel camera with digital zoom, built-in flash and video
recording
·
Advanced media player for viewing pictures, listening to music and
watching videos; support for High Speed USB 2.0 enables quick file transfers
between a PC and the smartphone
·
BlackBerry Desktop Manager software, which includes Roxio Media
Manager for BlackBerry, a powerful media manager application that allows users
to easily manage media files on their computer and transfer them to the
smartphone; the BlackBerry Bold also comes with the new BlackBerry Media Sync
application for customers that want a simple way to sync their iTunes digital
music collections with the smartphone***
·
Instant messaging with BlackBerry Messenger, Google Talk, Windows
Live Messenger and Yahoo! Messenger
·
Support for the Facebook for BlackBerry Smartphones application,
which enables fast, streamlined and optimized mobile access to the popular Facebook
social utility
·
Premium phone features including voice activated dialing, enhanced
noise cancellation to offset background noise, a low-distortion speakerphone,
and Bluetooth (2.0) support for hands-free use with headsets, car kits, stereo
headsets and other Bluetooth peripherals
·
BlackBerry Internet Service support that allows access to up to 10
supported personal and corporate email accounts, including most popular ISP
email accounts
·
BlackBerry Enterprise Server support for enterprise deployments, enabling
advanced security and IT administration within IBM Lotus Domino, Microsoft
Exchange and Novell GroupWise environments
* Check with service provider for roaming
services
** MicroSD/SDHC memory cards are available today in configurations of up to 8GB
and the BlackBerry Bold is expected to support upcoming 16GB mircoSD/SDHC cards
** *Certain music files may not be supported,
including files that contain digital rights management technologies
·
New
Vodafone Store launched in Kottayam
Vodafone Essar, one of India’s leading cellular service
providers, today announced the launch of its 1st international format Store in
Kottayam. This Vodafone store will sport a new look that aims to deliver a
complete Vodafone experience to customers. This takes the strength of Vodafone
Stores in Kerala to 25 and that of self-service kiosks to 11. The new Vodafone
Store is located at Vettor Building, Shastri Road, Kottayam.
Along with availability of new connections, Vodafone
handsets, and various value added services, the store offers a dedicated area
for customer queries and bill payments. There is a 24 X 7 Self Service Kiosk
where customers can pay bills at their convenience. Customers can now look
forward to even faster service as all the Vodafone Stores are connected with
high speed broadband connectivity.
Suresh Kumar R, Senior Vice
President, Vodafone Essar Kerala, said, “In our endeavor to strengthen our relationship
with our customers, we are delighted to open the international format store in
Kottayam. This new Vodafone Store will offer a one-stop solution for all mobile
related information and service needs of our customers.”
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.48.96 |
|
UK Pound |
1 |
Rs.80.26 |
|
Euro |
1 |
Rs.63.08 |
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 |
|