MIRA INFORM REPORT

 

 

Report Date :

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

HCC CONSTRUCTION LIMITED

 

 

Registered Office :

Hincon House, Lal Bahadur Shastri Marg, Vikhroli (W), Mumbai – 400083, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

05.03.2009

 

 

Com. Reg. No.:

11 -190725

 

 

Capital Investment / Paid-up Capital :

Rs 0.500 Million

 

 

CIN No.:

[Company Identification No.]

U45200MH2009PLC190725

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMH12274D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The company carries on the business to construct, execute, improve, work, develop, administer, manage or control in  India and in any part of the world, work includes railways, tramways, docks, harbors, piers, wharves, canals, irrigation, reclamation, and power supply works etc.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 100

 

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of Hindustan Construction Company Limited, India.

 

It is a new company and yet to established itself gradually. Business is active. Payments terms are unknown.

 

In view of strong holding, the company can be considered normal for business dealings at usual trade terms and condition.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

LOCATIONS

 

Registered Office :

Hincon House, Lal Bahadur Shastri Marg, Vikhroli (W), Mumbai – 400083, Maharashtra, India

Tel. No.:

91-22-25751000

Fax No.:

91-22-25775950

E-Mail :

secretarial@hccindia.com

vikas.dalvi@hccindia.com

 

 

SOLE PROPRIETOR/PARTNERS/DIRECTORS

As on 06.06.2011

 

Name :

Mr. Ajit Gulabchand

Designation :

Director

Address :

94, NCPA Appartment, 1, Dorab Tata Road, Nariman Point, Mumbai - 400021, Maharashtra, India

Date of Birth/Age :

28.06.1948

Date of Appointment :

05.03.2009

DIN No.:

00010827

 

 

Name :

Mr. Krishna Gajanan Tendulkar

Designation :

Director

Address :

6 Annapurna Farms, Panch KIutir, Boulevard Road, Hiranandani Gradens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

04.02.1954

Date of Appointment :

05.03.2009

DIN No.:

00017995

 

 

Name :

Mr. Ram Pravinchandra Gandhi

Designation :

Director

Address :

Amalfi 6th Floor, 15 L. D. Ruparel Marg, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

15.03.1952

Date of Appointment :

05.03.2009

DIN No.:

00050625

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.06.2011

 

Names of Shareholders

 

No. of Shares

Hindustan Construction Company Limited - India

 

49940

GulabChand Ajit 

 

10

Dhawan Arjun Shalaka

 

10

Tendulkar Gajanan Krishna

 

10

Nogja Rajgopal

 

10

Sood Balki Shanpraveen

 

10

Kulkarni P Vitthal

 

10

Total

 

50000

 

 

Equity Share Break up (Percentage of Total Equity)

As on 06.06.2011

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The company carries on the business to construct, execute, improve, work, develop, administer, manage or control in  India and in any part of the world, work includes railways, tramways, docks, harbors, piers, wharves, canals, irrigation, reclamation, and power supply works etc.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

Not Available

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

K. S. Aiyar and Company

Chartered Accountant

Address :

F-7, Laxmi Mills, Shakti Mill Lane, Mahalaxmi, Mumbai – 400011, Maharashtra, India

PAN.:

AAAFK6843P

 

 

Holding Company :

Hindustan Construction Company Limited - India

 

 

Fellow Subsidiary:
  • Western Securities Limited.
  • Hincon Technoconsult Limited.   
  • HCC Real Estate Limited.  
  • Highbar Technologies Limited
  • HCC Singapore Enterprises Private Limited. 
  • HCC Mauritius Enterprises Limited.  
  • Pune Paud Toll Road Company Limited  
  • Nirmal BOT Limited.  
  • Badarpur Faridabad Tollway Limited.
  • HCC Infrastructure Limited.
  • Panchkutir Developers Limited.

 

 

Subsidiary of Fellow Subsidiary:
  • Powai Real Estate Developers Limited.                            
  • Lavasa Corporation Limited.                                
  • HRL Township Developers Limited.                                   
  • HRL (Thane) Real Estate Limited.                       
  • Maan Township Developers Limited.                       
  • Nashik Township Developers Limited.                            
  • Charosa Wineries Limited.                                             
  • Lavasa Hotel Limited.                             
  • Lavasa Star Hotel Limited.                                   
  • Apollo Lavasa Health Corporation Limited.                         
  • Ecomotel Hotel Limited.                                         
  • Dasve Business Hotel Limited.                                 
  • Dasve Conventional Center Limited.               
  • Lakeshore Watersports Company. Limited.                           
  • Lakeview Clubs Limited.                 
  • Dasve Hospitality Institutes                        
  • Dasve Retail Limited.               
  • Spotless Laundry                        
  • SOL Hospitality Limited.                       
  • Lavasa Bamboocraft Limited.                        
  • Knowledge Vista Limited.                      
  • Green Hills Residencies Limited.             
  • Full Spectrum Adventures Limited.  

 

 

CAPITAL STRUCTURE

As on 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs 50.000 Millions

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs 0.500 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

 

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

0.500

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

0.000

4] (Accumulated Losses)

 

 

(0.476)

NETWORTH

 

 

0.024

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

0.000

2] Unsecured Loans

 

 

0.000

TOTAL BORROWING

 

 

0.000

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

0.024

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

0.000

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.000

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

0.000

 

Sundry Debtors
 

 

0.000

 

Cash & Bank Balances
 

 

0.499

 

Other Current Assets
 

 

0.000

 

Loans & Advances
 

 

0.000

Total Current Assets
 

 

0.499

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

 

0.460

 

Other Current Liabilities
 

 

0.015

 

Provisions
 

 

0.000

Total Current Liabilities
 

 
0.475

Net Current Assets
 

 
0.024

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

0.024

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2010

 

SALES

 

 

 

 

 

Income from operation

 

 

0.000

 

 

Other Income

 

 

0.000

 

 

TOTAL                                    

 

 

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Operating and Administrative Expenses

 

 

0.476

 

 

TOTAL                                    

 

 

0.476

 

 

 

 

 

 

LOSS BEFORE TAX                          

 

 

(0.476)

 

 

 

 

 

Less

TAX                                                                 

 

 

0.000

 

 

 

 

 

 

LOSS AFTER TAX

 

 

(0.476)

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

(9.52)

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2010

PAT / Total Income

(%)

 

 

00

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

 
 

 

(95.39)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

 

(19.83)

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

19.79

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

1.05

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Background:

HCC Construction Limited was incorporated under companies Act 1956, on 05.03.2009. The company carries on the business to construct, execute, improve, work, develop, administer, manage or control in  India and in any part of the world, work includes railways, tramways, docks, harbors, piers, wharves, canals, irrigation, reclamation, and power supply works etc.

 

Operation:

The company has been incorporated to construct, Execute, carry out, improve, work, develop, administer, manage or control in India and in any part of the world, works and convenience of all kinds, which includes railways, tramways, docks, harbors, piers, wharves, canals, reservoirs, embarkments, irrigation, reclamation, improvement, supply works. The company obtained certificate for Incorporation on 5.03.2009 and certificate of commencement of business on 29.10.2003. The business activities of the company are yet to commence.

 

This being 1st year of operation and as no business activities have been commenced, the company has reported a loss of Rs 0.476 Million for the period ended on 31.03.2010 

 

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.45.25

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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

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

-

NB

                                       New Business

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.