MIRA
INFORM REPORT
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Report Date : |
18.08.2011 |
IDENTIFICATION DETAILS
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Name : |
FARAKKA-RAIGANJ HIGHWAYS LIMITED |
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Registered Office
: |
Hincon House, Lal Bahadur Shastri Marg, Vikhroli (W), Mumbai – 400083,
Maharashtra |
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Country : |
India |
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Date of
Incorporation : |
11.03.2010 |
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Com. Reg. No.: |
11-200733 |
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Paid-up Capital
: |
Rs. 10.000 Millions |
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CIN No.: [Company Identification
No.] |
U45400MH2010PLC200733 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF05935G |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
Construction of Highways |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
New company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Hindustan Construction Company Limited,
India. It is a new company and yet to establish itself gradually. The project
of the company is still on its implementation stage. However, trade relations
are reported as fair. Payment terms are unknown. In view of strong holding, the company can be considered normal for
business dealings at usual trade terms and conditions. |
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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
Hincon House, Lal Bahadur Shastri Marg, Vikhroli (W), Mumbai – 400083,
Maharashtra, India |
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Tel. No.: |
91-22-25751000 |
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Fax No.: |
91-22-25794767 |
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E-Mail : |
DIRECTORS
As On 07.06.2011
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Name : |
Mr. Arjun Vijay Dhawan |
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Designation : |
Director |
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Address : |
30 IRIS, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
19.07.1976 |
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Date of Appointment : |
11.03.2010 |
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DIN No.: |
01778379 |
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Name : |
Mr. Dinesh Roopchand Jain |
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Designation : |
Director |
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Address : |
Raheja Tipco Heights, Tower No. 1, Flat No. 1303, Ranisati Marg, Malad
(East), Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
31.01.1971 |
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Date of Appointment : |
20.04.2010 |
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DIN No.: |
00059913 |
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Name : |
Mr. Perwez Mohammad Yusuf Alam |
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Designation : |
Director |
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Address : |
Solanki Dham, Flat No. 207/B, Louis Wadi, Thane West, Thane – 400604,
Maharashtra, India |
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Date of Birth/Age : |
15.06.1959 |
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Date of Appointment : |
11.03.2010 |
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DIN No.: |
02279240 |
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Name : |
Mr. Parthasarathy Thirumangalam Chakrapani |
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Designation : |
Director |
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Address : |
804, 8th Floor, B Wing, Savoy Raheja Gardens, LBS Marg,
Naupada, Thane West, Thane – 400602, Maharashtra, India |
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Date of Birth/Age : |
01.06.1960 |
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Date of Appointment : |
11.03.2010 |
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Date of Cessation : |
20.04.2010 |
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DIN No.: |
02151618 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 07.06.2011
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Names of Shareholders |
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No. of Shares |
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Hindustan Construction Company Limited – India |
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510000 |
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HCC Concessions Limited – India |
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489950 |
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Dhawan Vijay Arjun |
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10 |
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Alam Mohammad Yusuf Perwaz |
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10 |
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Kukkarni Pandurangrao Vithal |
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10 |
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Sood Balkishan Praveen |
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10 |
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Jain Roopchand Dinesh |
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10 |
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Total |
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1000000 |
BUSINESS DETAILS
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Line of Business : |
Construction of Highways |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Financial Institute : |
·
SBICAP Trustee Company Limited – 202, Maker
Tower, ‘E’, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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215000000 |
Equity Shares |
Rs. 10/- each |
2150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company
LOCAL AGENCY FURTHER INFORMATION
Note:
This section, awarded in FY10, is a 103 km stretch originating at
Farakka (Km 295.000) terminating at Raiganj (Km 398.000). The concession period
is of 30 years, including a construction period of 30 months. The project will
be implemented with an investment of Rs. 13780.000 millions. Construction is
underway and HCC Construction expects 15% completion by March 2011.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.45.37 |
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|
1 |
Rs.74.56 |
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Euro |
1 |
Rs.65.34 |
RATING EXPLANATIONS
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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 |
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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 |
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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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.