MIRA
INFORM REPORT
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Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
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Name : |
GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION |
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Registered
Office : |
GIDC Gandhinagar, |
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Country : |
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Year of Establishment
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1962 |
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Legal Form : |
Government of |
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Line of Business
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Subject is engaged in developing industrial estate or parks. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a Government of Gujarat undertaking corporation engaged in
developing industrial estates or parks. Their trade relations are fair.
Payments are reported to be made as per commitments. It 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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
INFORMATION DECLINED BY
Management Non Co-Operative.
LOCATIONS
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Registered / Head Office : |
GIDC Gandhinagar, |
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Tel. No.: |
91-79-23250636/ 2350637 (Office) 91-79-23250557 (GIDC Officer ASSO) 91-79-23250567 (GIDC Employee 91-79-23250571 (Store Branch) |
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Regional Offices : |
Located at: ·
Ahmedabad ·
Gandhinagar ·
Sabarkantha ·
Mehsana Patan ·
Banaskantha ·
Kheda ·
Anand ·
Vadodara ·
Bharuch ·
Dahod ·
·
Panchmahal ·
Dahod ·
Valsad ·
·
Navsari ·
Tapi ·
Dangs ·
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Junagadh ·
Porbandar ·
Surendranagar ·
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Amreli ·
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Branches : |
Locate at: ·
Nehsana ·
Banaskantha ·
Patan ·
Kheda ·
Anand ·
Vadodara ·
Panchmahal ·
Dahod ·
Bharuch ·
·
·
Navsari ·
Valsad ·
Surendranagar ·
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Amereli ·
·
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Rorbandar ·
Junagadh ·
Bhuj |
MANAGEMENT
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Name : |
Mr. Maheswar Sahu, IAS |
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Designation : |
Chairman |
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E mail : |
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Name : |
Mr. Arvind Agarwal IAS |
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Designation : |
Vice Chairman and Managing Director |
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E mail : |
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Name : |
Mr. N K Patel |
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Designation : |
Chief Engineer |
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E mail : |
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Name : |
Mr. B B Gore |
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Designation : |
CAO |
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E mail : |
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Name : |
Mr. N J Raval |
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Designation : |
Advisor (Project/ Marketing) |
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E mail: |
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Name : |
Mr. N N Pathak |
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Designation : |
General Manager (Allotment/ Recover) |
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E mail : |
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Name : |
Mr. P R Bhatta |
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Designation : |
General Manager (Land and Palnning / Est/ Board) |
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E mail : |
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Name : |
Mr. J N Rao |
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Designation : |
Director (Notified Area) and General Manager (MIS/ Coordination/ AA/
PRO/ Store) |
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E mail : |
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Name : |
Mr. P N Shah |
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Designation : |
General Manager (Law/ LRC) |
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E mail : |
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Name : |
Mr. H V Bagtharia |
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Designation : |
Manager (S and A) |
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E mail : |
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Name : |
Mr. M R Shah |
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Designation : |
Deputy CAO |
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E mail : |
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Name : |
Mr. A C Doshi |
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Designation : |
Senior Account Officer |
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E mail : |
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Name : |
Mr. J P Mehta |
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Designation : |
Senior Account Officer |
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E mail : |
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Name : |
Mr. B P Jain |
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Designation : |
Deputy Chief Executive |
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E mail : |
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Name : |
Mr. K A Patel |
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Designation : |
Se (Mechanical/ Electrical) |
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E mail : |
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Name : |
Mr. V D Patel |
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Designation : |
SE (QC) |
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E mail : |
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Name : |
Mr. R P Shah |
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Designation : |
XEN (HQ) |
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E mail : |
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Name : |
Mrs. A G Badlani |
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Designation : |
Senior ATP |
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E mail : |
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Name : |
Mr. P D Patel |
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Designation : |
ATP |
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E mail : |
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Name : |
Mr. S.K. Parikh |
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Designation : |
Divisional Manager and Regional Manager – Ahmedabad |
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E mail : |
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Name : |
Mr. J N Kharadi |
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Designation : |
Regional Manager- Gandhinagar |
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E mail : |
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Name : |
Mr. G N Jogiyani |
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Designation : |
Divisional Manager and Regional Manager- Mehsana |
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E mail : |
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Name : |
Mr. D S Parmar |
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Designation : |
Divisional Manager- Ankleshwar, |
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Name : |
Mr. S B Bodat |
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Designation : |
Regional Manager- Ankaleswar |
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E mail : |
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Name : |
Mr. G K Madia |
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Designation : |
Regional Manager – |
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E mail : |
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Name : |
Mr. T.K. Pandor |
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Designation : |
Divisional Manager – Vapi |
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Name : |
Mr. T K Pandor |
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Designation : |
Regional Manager- Surat |
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E mail : |
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Name : |
Mr. A K Patel |
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Designation : |
Regional Manager- Vapi |
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E mail : |
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Name : |
Mr. O P Sharma |
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Designation : |
Divisional Manager and Regional Manager- Rajkot |
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E mail : |
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Name : |
Mr. O P Sharma |
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Designation : |
Regional Manager- Junagadh |
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E mail : |
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Name : |
Mr. O P Sharma |
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Designation : |
Regional Manager- Surendranager |
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E mail : |
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Name : |
Mr. P P Parmar |
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Designation : |
Regional Manager- Bhavnagar |
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E mail : |
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Name : |
Mr. D T Ninama |
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Designation : |
Divisional Manager and Regional Manager-Jamnagar |
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E mail : |
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Name : |
Mr. D T Ninama |
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Designation : |
Divisional Manager and Regional Manager – Bhuj |
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E mail : |
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Name : |
Mr. Atanu Chakraborty, IAS |
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Designation : |
Secretary (E.A) Finance Deparment |
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Date of Appointment : |
22.12.2009 |
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Name : |
Mr. B B Swain, IAS |
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Designation : |
Industries Commissioner |
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Date of Appointment : |
04.03.2010 |
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Name : |
Mr. L Chuango, IAS |
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Designation : |
Managing Director, Guajrat Urja Vikas Nigam Limited |
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Date of Appointment : |
05.10.2008 |
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Name : |
Mr. S S Rathore |
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Designation : |
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Date of Appointment : |
27.03.2009 |
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Name : |
Mr. M M Jivani |
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Designation : |
Housing Commissioner, |
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Date of Appointment : |
16.01.2009 |
LOCAL AGENCY FURTHER INFORMATION
History:
·
GIDC is the nodal agency of the Government of
Gujarat for building the industrial backbone of the state.
·
GIDC develops Industrial Estates/ Parks with
quality infrastructure and utilities.
·
It is a 100% state Government owned statutory
undertaking, set up under the Gujarat Industrial Development Act,1962.
·
Its objective is to identify and develop locations
suited for industrial purpose- making it tailor- made for an entrepreneur’s
needs.
·
It has so far developed 182 estates on 30,500
hectares of land.
·
GIDC is now developing 11 Special Investment
Regions to build an eco-system for investment in the state.
On the west coast of
·
Area:196,024 sq.km. (5.96 % of
·
Capital: Gandhinagar
·
Climate: Tropical
·
Population :50.60 million as per 2001 census (4.93% of
·
Urbanization: 38 % (Compared to the national average of
28%)
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Population Density :258 persons per
sq.km. vis-ŕ-vis 324 of national average
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Official Language: Gujarati
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Share of secondary sector in SDP :38.5% in 2001-02
at current prices
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Per capita income (in 2009-2010) : Rs 21,276 (=US$
446)
NEW INDUSTRIAL POLICY - INCENTIVES TO INDUSTRIES
·
Any small scale unit set up with its own investment
can avail 10% limited to maximum Rs. 1.000 Million of the eligible fixed
capital investment under interest subsidy or investment subsidy scheme - 2000.
·
Any small scale unit set up with the loans from
financial institution or any existing small scale unit going for modernization
program can avail of 5% subsidy on the applicable interest over the loan
period, limited to Rs. 0.500 Million per annum totaling to Rs. 2.500 Millions.
This subsidy is limited to 3% in case of expansion or diversification of the
existing small scale unit limited to RS. 0.300 Million per annum totaling to
Rs. 1.500 Millions.
·
In case of declared backward areas by the
Government, the subsidy mentioned under (1) and (2) in increased by 25%.
·
Any medium or large scale unit having incurred cost
for creation of infrastructure can avail 25% subsidy limited to Rs. 10.000
Millions under medium and large scale units subsidy scheme - 2000. The upper
limit is extendable to Rs. 25.000 Millions for schemes under rural linkage
projects.
·
Under New Industrial Policy - Assistance for
Research and Development and Patent Registration scheme, assistance will be
provided by the State Government on specific proposals on merits for activities
related to research and development. Assistance will be provided at the rate of
50% limited to Rs. 0.500 Million for patent/ IPR.
·
Any unit with minimum investment of Rs. 200.000
Millions set up after 31st July 2001 till 31st July 2003 in Kutch district of
Gujarat can avail of excise exemption benefit of maximum 5 years from the date
of commencement of commercial production.
·
Under Incentive scheme 2001 for Economic
Development of Kutch District, any unit set up between 31-7-2001 and 31-10-2004
can avail of sales tax exemption or sales tax deferment or composite scheme for
units having capital investment exceeding Rs. 1000.000 Millions for a period of
5 years from the date of commencement of commercial production.
·
92 talukas of 21 districts are declared by the
State Government as backward areas which are eligible for enhanced benefits
under various schemes mentioned above
Advantages
GIDC functions for
all practical purposes like a core corporate house. GIDC's estates are marked
with a difference from the normal private estates/ areas in a way that over a
passage of time; the conglomeration becomes a full - fledged industrial
township. The advantage to be apart of GIDC are:
Why
GIDC
GIDC ESTATE - THE
LIFELINE OF INDUSTRIES:
·
GIDC land is for industrial purpose. So no need to
waste time on getting Non-Agricaltural./ N.O.C.
·
GIDC establishes its estates after verifying the
viability and availability of water, power, linkages, communication, disposal
of waste water etc. So the entrepreneur gets a really developed and planned
area
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GIDC estates are provided with required amenities
like school, bank, post office, dispensary, police chowky, community garden,
garden etc.
·
The chemical estates of GIDC are approved centres
for chemical industries by Gujarat Pollution Control Board (GPCB)
·
All titles related to land/ building within GIDC
estates are clear and free from any encumbrances and are easily marketable
·
An entrepreneur can start the industry by paying
only 30 % of the total cost as down payment and can pay remaining amount in a
period of 10 years.
·
GIDC provides ready to occupy sheds for immediately
starting an industry and also provides godown for storage of its material
·
GIDC, being a Government organization, is
transparent and fair in fixation of the prices of land/ building. The prices so
fixed are approved by all financial institutions for quick approval of loans
·
GIDC also provides sites/ land for solid waste
disposal and CETPs and effluent disposal pipeline for disposal of liquid
effluent which can be collectively used by the entrepreneur
·
GIDC estates, one declared as Notified Area, are
free from payment of local taxes and octroi. The Notified Area Tax payable in
such area is only for maintenance and repairs purpose and is very reasonable
·
GIDC estate provides a unique opportunity to an
entrepreneur to avail cluster benefits related to raw material, market,
technology, common services, linkages etc.
·
Any upgradation program undertaken in GIDC estate
provides direct advantage to all industries located therein.
·
GIDC provides special services in acquiring and allotting
land on agency basis to large enterprises.
·
GIDC allots land on out of turn priority to
existing units, land loosers, SC/ST/SEBC applicants, Ex- army personnel, NRIs,
100% EoU, lady entrepreneur and joint sector projects. 25% and 15% concession
in land price is given to land loosers and remaining categories respectively.
Subsidy in scrutiny fee and reduced down payment are the additional concessions
offered to this category.
·
GIDC provides 3% rebate on the balance loan amount
if the unit makes full payment of the allotted property.
GIDC at a glance (Key Indicators)
GIDC operates and maintains industrial estates in various districts of
For Chemical and Water intensive industries, estates are under development at
Vilayat, Jhagadia and Dahej near Bharuch. A similar mega estate for Engineering
and non-water intensive industries is under way at Savli near
STP - Gandhinagar is established by the Department of Electronics, Government
of India in GIDC Gandhinagar Electronic Estate which is a pollution-free city
with peaceful work culture unique to the state of
A GIDC estate can be notified as a "Notified Area", to function as an
independent body, thereby avoiding multiple taxation problems. Notified Areas
do not come under the jurisdiction of local self-governing bodies. Some
industrial estates converted into Notifies Areas include Vapi, Ankleshwar, Petrochemical
Complex in
Moreover, GIDC has planned setting up of chemical estates at Moti Khavdi,
Bachau and Mundra in Kutch, Pipavav in Amreli, Vansi Borsi in Navsari, Khambhat
in Anand, Dholera in
FAQ Allotment
Branch:
|
Questions |
Answer |
|
Availability of Plots / Sheds / Properties in various Estates |
Details of inventory is available on web-site. Also can be obtained
from concerned R.M of the Estate. |
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What Infrastructure / Facilities provided by GIDC |
Basic-Infrastructure Facilities like Road/ SWD/ Drainage/ Streetlight
are provided. Most of the estate have W/S facilities. |
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About transfer of plot |
Recently, vide Policy Circular dated. 31.5.08 the transfer of
un-utilised plot has been restricted. Utilised plot can be transfers by
charging transfer fee considering time of utilisation. |
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Extension of time limit for utilisation plot |
Time for utilisation of plot can be extended on merit of case and by
charging penalty. There is policy for this. (upto 6 years max) |
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Allotment of adjoining plot in saturated estate. |
Normally in saturated estate properties are allotted only through
auction. But for expansion of industry, application will be considered for
allotment of adjoining plot on fulfilling condition mentioned in policy
circular dated. 31.1.06. |
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Sub-letting of portion of land for installation of |
For this purpose, policy is framed vide circular dated. 10.9.2007,
which is available on web-site. |
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Allotment of properties through auction in saturated estate |
The Corporation has declared 67 estates as fully developed, in non -
saturated Estates, allotment is done as per policy, generally on
first-come-first-serve basis. where the allotment is through public auction
only. Rest is as per priority. |
|
Fixing of rent for lying cable line and gas pipeline in GIDC estate. |
Permission can be given on payment of 10% fee of land price and other
conditions as per circular dated. 7.01.04. |
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Change of purpose from industrial use to commercial use. |
Permission for change of use from industrial to commercial can be
granted on payment of commercial price of plot and other conditions. |
Department
of Commerce
Monitoring
System for Projects under ASIDE Scheme
QPR-II
|
Quarter |
Q-III |
|
Year |
2008-2009 |
|
1. Amount balance at the end of last year |
|
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2. Allocation for the year |
Rs. 291.750 Millions |
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3. Amount received during the year for the quarter |
Rs. 587.250 Millions |
|
3a.(i )Amount released (1st Installment) vide order dt,25/03/0S |
Rs. 295.500 Millions |
|
ii) Date of release by GOT |
31.03.2008 |
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3b.(i ) Amount released (2M installment) on 17.07.2008 |
Rs. 291.750 Millions |
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(ii) Date of release by GOT |
17.07.2008 |
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3c. (I )Amount released (3rd installment) |
0.000 |
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(ii) Date of release by 001 |
-- |
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4. Reasons for not release |
-- |
|
1. Total amount available under ASIDE upto the quarter 31.12.2008 |
Rs. 2447.600 Millions |
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7. Amount spent under ASIDE in the upto the quarter 31/12/08 |
Rs. 1820.844 Millions |
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8. Amount surrendered if any |
0.000 |
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9. Date of surrender |
-- |
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10. UC Status (a ) Year: |
-- |
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(b) Installment |
0.000 |
|
(c ) Date |
-- |
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11. Report verified by (a) Name: |
R J. Shah |
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(b) Designation |
PCIA |
|
(c ) Entry date |
-- |
GLIJARAT
INDUSTRIAL DEVELOPMENT CORPORATION GANDIHNAGAR
Subsidy
received from Stare Government
Financial
year 2007-2008
31.12.2008
|
Particulars |
Amount Received (Rs. in Millions) |
|
1. DAHEJ and VILLAYAT EFFLUENT DISPOSAL PIPELINE PROJECT (BY L and T) |
15.500 |
|
2. 25.03.2003 |
18.329 |
|
3. 31.03.2003 |
14.196 |
|
4. 31.03.2003 |
0.293 |
|
5. 25..07.2003 |
20.000 |
|
6. 23.12.2003 |
133.578 |
|
7. 31.03.2004 |
38.661 |
|
8. 28.10.2004 |
9.631 |
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9. 19.11.2004 |
97.765 |
|
10. 31.03.2006 |
49.600 |
|
Total |
397.554 |
|
|
|
|
III (i) Subsidy for Convention and Exhibition Centre in |
70.000 |
|
(ii) No, IC/INFRAI2005-06! 436663 Dated_27.03.2006 |
29.000 |
|
(iii) No. 1C/2007-08/Conv/ Centre/ 878/221 Dated 06.12.2007 Subsidy
for Convention and Exhibition Centre in |
20.400 |
|
iv) No. 1C/2007-08/Conv/ Centre/ 878/266--- Dated 29.01.2008 |
55.500 |
|
Total |
174.900 |
|
|
|
|
Grad Total |
572.454 Millions |
|
Less: Expenditure |
|
|
1 (i) Dahej Villayat Effluent Pipeline Project |
397.554 |
|
Total Expenditure |
397.554 |
|
Closing Balance |
174.900 |
GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION
GANDHINAGAR
Statement showing the detail% of Subsidy received and utilized by
Corporation under ASIDE Scheme Projects for financial year 2007-08, Upto
31.12.20087
Subsidy received from Central Government
|
Date of Receipt
of Subsidy form Central Government |
Amount Received (Rs. in Millions) |
|
1. 19.08.2002 |
70.000 |
|
2. 14.02.2003 |
63..000 |
|
3. 31.03.2003 |
7.000 |
|
4. 27.10.2003 |
70.000 |
|
5. 19.03.2004 |
80.000 |
|
6. 02.08.2004 |
117.000 |
|
7. 10.01.2005 |
240.800 |
|
8. 08.07.2005 |
216.900 |
|
9. 08.10.2005 |
216.900 |
|
10. 23.08.2006 |
238.500 |
|
11. 19.01.2004 |
238.500 |
|
12. 04.10.2007 |
301.750 |
|
13. 11.04.2008 |
295.500 |
|
14. 01.09.2008 |
291.750 |
|
Total |
2447.600 |
|
Less: |
|
|
(i) Disbursed by GII)C in favour 01’ Sardar Vallabhbhai Centre of
Jewellery Design Manufacture Project Surat |
6.000 |
|
(ii) Adjusted / Utilized by Corporation towards Dahej ViIIayat
Pipeline Project of L and T. |
440.000 |
|
(iii) Fisheries Commissioner (GM1), Veraval Fisheries Harbor Project |
1.640 |
|
(iv) Gujarat State Road Development Corporation SL EPC-28-3-05
Bharuch-Dahej Additional 2 lane ( |
200.000 |
|
Payment rn3dC to XEN (RandI3) Dept A bad for sabarmati Jail Road Proj.
No. 25.07.2005 |
1.074 |
|
(v) Payment made to ECPL Vadora for up gradation of Inspection road
for the channel on 05.12.2005 |
30.000 |
|
Payment made on ECPL Vadodra for upgradation of inspection road for
channel on 18.02.2006 |
35.000 |
|
Payment made to ECPL Vadodara for upgradation of inspection road for
channel on 31.03.2006 |
5.000 |
|
Payment made to EPIL Vadodara for upgradation of infrastructure
facilities like tire bridge and its related construction Project at Padra an
31-03-06 |
1.000 |
|
Payment made to ECPL Vadodara for upgradation of inspection mad on 3
0-5-06 |
16.600 |
|
Payment made to Kutch Small Scale Salt |
0.500 |
|
Payment made to ECPI. Vadodara on 11-9-06. |
4.391 |
|
Payment made to Agency — Dahcj Pipeline on 24-1-2005 (Earlier not taken in the statement) |
0.304 |
|
Gujarat State Road Development Corporation Limited For upgradation of l3haruch-Dahej
four lane road on 10-10-06. |
100.000 |
|
Payment made to Kutch Small Scale Salt Manufacturing Association on
20-12-06. Construction of road to expand KSEZ |
0.452 |
|
Payment made to R and B Department for upgradation of road from
Central Jail to Chharodi on 12-3-2007. |
12.500 |
|
Payment made to M/s. EICL for upgradation of infrastructure facility
at Padra an 17-3-01 |
1.750 |
|
Payment made to Mahuva Industries Association on 17-3-07 |
1.800 |
|
Payment made to GSRDC for the lane Projects from Bharuch to Dahej on
30-3-07 |
300.000 |
|
Payment made to Agency on 22-3-07 (Earlier not taken in the statement) |
0.101 |
|
Payment made to Agency on 22-3-07 (Earlier not taken in the statement) |
0.101 |
|
Payment made to Mahuva industries Association on24— 10- 2007 |
2.537 |
|
Payment made to Indian Diamond Institute for Sit center project on 1
$/02/2008 |
40.000 |
|
Payment made to Ex. Eng.(R.B.) Raroda for Rod from Savli to N.H.No.8
on 18/02/2008 |
30.000 |
|
Payment made to G.I.D.C. for Sarigam by pass project on 24/03/2008 |
25.000 |
|
Payment made to Gujarat State Road Development Corporation Limited for
Bharuch four lane |
280.000 |
|
Payment made to Gujarat Maritime Board for fisheries harbour project at
Jafarabad on 24/03/2008 |
166.700 |
|
Payment made to Exim Club, Vadodarn, for Export promotion center on
31/03/2008 |
0.500 |
|
Payment made to Ex. Engineer, Road and Buildingm, Ahmedbad for road
from Sabarmati Jail to Chahrodi Via Kaligam on 31.03.2008 |
2.275 |
|
Payment made to ECPL for upgradation of Lagoon ands pumping station at
ECPL Vadodara on 21.08.2008 |
15.317 |
|
Payment made to ECPL for upgradation of lagoon and pumping station at
ECPL Vadoadar on 01.09.2008 |
10.301 |
|
Payment made to Ex. Eng. Patnagar Yojana 1, Gandhinagar, for ( |
40.000 |
|
Payment to Ex. Eng. Patnagar Yojana 3, Gandhin agar, for ( |
50.000 |
|
Total
Expenditure |
1820.844 Millions |
|
Balance |
626.756 Millions |
|
Remaining balance to be adjusted against ASIDE (in 07-08 Financial
year) |
-- |
GIDC Act 1962 - Preliminary
Short title, extent and commencement:
1.
1. This Act may be called the Gujarat Industrial Development Act, 1962.
2. It extends to the whole of the State of
3. It shall come into force at once.
Definitions:
2. In this Act, unless the context otherwise requires
(a) "amenity" includes road, supply of water or electricity,
street lighting, drainage, sewerage, conservancy and such other convenience as
the State Government may, by notification in the Official Gazette, specify to
be an amenity for the purposes of this Act;
(b) "building" means any structure or erection, or part of a
structure or erection, which is intended to be used for residential,
industrial, commercial or other purposes, whether in actual use or not;
(c) "Collector" means the Collector of a district, and includes
any officer specially appointed by the State Government to perform the
functions of a Collector under this Act;
3.[(ca) "commercial centre" in relation to any
industrial area or industrial estate means any site selected by the State
Government where the Corporation builds shop and other building and makes them
available for any commercial activity,]
(d) "Corporation" means the Gujarat Industrial Development
Corporation established under Section 3;
(e) "Development" with its grammatical variations, means the carrying
out of building, engineering, quarrying or other operations in, on over or
under land, or the making of any material change in any building land, and
includes re-development, but does not include mining operations; and "to
develop" shall be constructed accordingly;
(f) "engineering operations" include the formation of laying out
of means of access to a road or the laying out of means of access to a road or
the laying out of means of water supply;
(g) "Industrial area" means any area declared to be an industrial
area by the State Government by notification in the Official Gazette, which is
to be developed and where industries are to be accommodated;
(h) "Industrial Estate" means any site selected by the State
Government, where the Corporation builds factories and other buildings and
makes them available for industries or class of industries;
(i) "means of access" includes a road for any means of access,
whether private or public, for vehicles or for pedestrians;
(j) "premises" means any land o building or part of a building
and includes-
(i) the garden, grounds and out-houses, if any, appertaining to such building
or part of a building; and
(ii) any fittings affixed to such building or part of a building for the more
beneficial enjoyment thereof;
(k) "prescribed" means prescribed by the rules made under this
Act;
(l) "regulation" means regulation made under section 54;
(m) "relevant land acquisition law" means-
(i) in the Bombay area of the Kutch area of the State of Gujarat, the
Land Acquisition Act 1894 as in those areas;
(ii) in the Saurashtra area of the State of Gujarat, the Land Acquisition Act,
1894 as applied to that area; and
(iii) the Gujarat Land Acquisition (Industrial Areas) Act 1961;
(n) the expression "land" and the expression "person
interested" shall have the meanings respectively assigned to them in the
relevant land acquisition law.
GIDC Act 1962 - Establishment And Constitution Of The Corporation
Establishment and incorporation:
3.
(1) For the purpose of securing and assisting in the rapid and orderly
establishment, and organisation of industries in industrial areas and
industrial estates in the State of Gujarat 1[and for the purpose of
establishing commercial centers in connection with the establishment and
organisation of such industries], there shall be established by the State
Government by notification in the Official Gazette, a Corporation by the name
of the Gujarat Industrial Development Corporation.
(2) The Corporation shall be a body corporate with perpetual succession and
a common seal, and may sue and be sued in its corporate name, and shall be
competent to acquire, hold and dispose of property, both movable and immovable,
and to contract, and do all things necessary, for the purpose of this Act.
Constitution:
4.
(1) The Corporation shall consist of the following 2[twelve] 3[Directiors],
that is to say
(a) 4[Three] official 3[Directors], nominated by the State Government, of whom
one shall be the Financial Adviser to the Corporation;
(b) one 5[Director] nominated by the State Electricity Board Constituted under
the Electricity (Supply) Act, 1948;
(c) one 5[Director] nominated by the Gujarat Housing Board constituted under
the Gujarat Housing Board Act, 1961;
(d) 6[six] 3[Directors] nominated by the State Government, from amongst persons
appearing to it either to be qualified by reason experience of, and capability
in, industry or trade or finance or to be suitable to represent the interest of
persons engaged or employed therein ; and
(e) the 1[Managing Director] of the Corporation , ex-officio, who shall also be
the secretary of the Corporation.
(2) The State Government shall appoint one of the 2[Directors] of the
Corporation to be Chairman of the Corporation and may appoint one of the other
2[Directors] as Vice-Chairman.
Disqualification for Directorship:
5.
A person shall be disqualified for being nominated as a 3 [Direcrtor] of
the Corporation if he:-
(a)
is an employee of the Corporation, not being the
4[Managing Director] thereof, or
b) is of unsound mind and stands so declared,
by a competent court, or
(c) is an undischarged insolvent.
Term of Office and Conditions of Services of Directors:
6.
(1) The Chairman, Vice-Chairman (if any) and 6[Directors] of the Corporation
nominated under clauses (a) to (d) of sub-section (1) of the section 4, shall
hold office for a period upto the end of two years from the date of the their
nomination as 6[Directors].
(2) The 6[Directors] of the Corporation nominated under clause (a) or (e)
of sub-section (1) of section 4 shall be entitled to draw such salary and
allowances as may be prescribed. Such reasonable additional remuneration, as
may be fixed by the State Government, may be paid to any 7[Directors] for extra
or special services required to be rendered by him.
(3) The 6[Directors] of
the Corporation nominated under clause (b), (c) or (d) of sub-section (1) of
the section 4 shall be entitled to draw such honorarium of compensatory
allowances for the purpose of meeting the personal expenditure in attending the
meetings of the Corporation or 8[of any Committee thereof or in doing or for
performing any work connected with the functions of the Corporation which may
be specially entrusted to them by the Corporation or by any Committee thereof]
as may be prescribed.
(4) Any person
nominated as a 7[Director] shall, unless disqualified, be eligible for
renomination.
Meetings of Corporation:
7.
(1) The Corporation shall meet at such times and places, and shall subject
to the provisions of sub-section (2) observe such rules of procedure in regard
to the transactions of its business as may be provided by regulations.
(2) A 10[Directors] who
is directly or the indirectly concerned or interested in any contract, loan,
arrangement or proposal, entered into, by or on behalf of the Corporation,
shall at the earliest possible opportunity disclose the nature of his interest
to the Corporation when the contract, loan, arrangement, or purpose of
eliciting information, and shall not vote thereon:
Provided that, a 10[Directors] shall not be deemed to be concerned or
interested as aforesaid by reason only of his being a share-holder of a company
concerned in any such contract, loan arrangement or proposal.
Cessation of directorship:
8.
(1) If a 12[Directors]
(a) becomes subject to any of the disqualifications mentioned in section 5, or
(b) tenders his resignation in writing to, and such resignation is accepted by,
the State Government, or
(c) is absent without the Corporation's permission from three consecutive
meetings of the Corporation, or from all meetings of the Corporation, or from
all meetings o the Corporation for three consecutive months or,
(d) is otherwise unfit to continue as a 1[Director].
(2) The State Government
may by order suspend from office for such period as it thinks fit, or remove
from office any 1[Directors] of the Corporation, who in its opinion –
(a) has refused to act, or
(b) has become incapable of acting, or
(c) has to abused his position as 1[Directors] as to render his
continuance on the corporation detrimental to the interest thereof or of the
general public, or
(d) is otherwise unfit to continue as a 1[Directors].
Vacancies how to be filled:
9.
Any vacancy of a 2[Director] of the Corporation shall be filled as early
as practicable, and in like manner as if the nomination were being made
initially:
Provided that, during any such vacancy the continuing 3[Director] may act as if
no vacancy had occurred.
Temporary Absence of Directors:
10.
(1) If the Chairman or any other 4[Director] of the Corporation is by reason
of illness or otherwise rendered temporarily incapable of carrying out his
duties, or is granted leave of absence by the State Government may appoint
another person to act in his place and carry out duties and functions entrusted
to him by or under this Act until such Chairman or 4[Director] as the case may
be, resumes his duties.
(2) If a Vice-Chairman
has been appointed in the case of absence of the Chairman, the Vice-Chairman
shall be competent to carry out duties and functions of the Chairman.
Proceedings Presumed to be good and Valid:
11.
No Disqualification of, or defect in the appointment of any person
acting as the Chairman or Vice-Chairman or a 7[Director] of the Corporation
shall vitiate any act or proceeding of the Corporation , if such act or
proceeding is otherwise in accordance with the provisions of this Act.
Officers and Servants of Corporation:
12.
(1) The State Government shall appointment a 8{Managing Director], and a
Chief Accounts Officer of the Corporation.
(2) The Corporation may
appoint such other officers and servants, subordinate to the officers mentioned
in sub-section (1), as it considers necessary for the efficient o fits duties
and functions.
(3) The conditions of
appointment and service of the officers and servants and their scales of pay
shall-
(a) as regard the 1[Managing Director] and the Chief Accounts Officer, be such
as may be prescribed, and
(b) as regard the other officers, and servants, be such as may be determined by
regulations.
GIDC Act 1962 - Finance, Accounts And Audit
Application of Corporation's Assets:
18.
All property funds and other assets vesting in the Corporation shall be
held and applied by it, subject to the provisions of the purposes of and for
the purposes of this Act.
Corporation's Fund:
19.
(1) The Corporation shall have and maintain its own funds, to which
shall be certified-
(a) all moneys received by the Corporation from the State Government by way of
grants, subventions, loans, advances or otherwise;
(b) all fees, costs and charges received by the Corporation under this
Act;
(c) all moneys received by the Corporation from the disposal of lands,
buildings and other properties, movable and immovable and other transactions ;
(d) all moneys received by the Corporation by way of rents and profits
or in any other manner or from any other source.
(2) The Corporation may keep in current or deposit account with the State Bank
of India or any other Bank approved by the State Government in this behalf such
sum of money out of its fund as may be prescribed and any money in excess of
the said sum shall be invested in such manner as may be approved by the State Government.
(3) Such accounts shall be operated upon by such officers of the Corporation as
may be authorised by regulations.
Grants, Subventions, Loans And Advances to Corporation:
20.
The State Government may make such grants, subventions, loans and advances
to the Corporation as it may deem necessary for the performance of the
functions of the Corporation under this Act and all grants, subventions, loans
and advances made shall be on such terms and conditions as the State Government
may after consulting the Corporation determine.
Power of Corporation to Borrow:
21.
(1) The Corporation may, subject, to such conditions as may be
prescribed in this behalf, borrow money in the open market or otherwise with a
view to providing itself with adequate resources.
(2) All moneys borrowed under sub-section (1) may be guaranteed by the State
Government as to the repayment of principal and payment of interest at such
rates and such conditions as the State Government may determine at the time the
moneys are borrowed.
1[Explanation.- The expression "to borrow money" with all its
grammatical variations and cognate expressions includes, acceptance of deposits
(not being deposits accepted under section 22) from the public for a specified
period and on payment of interest thereon to the depositors at specified
rates].
Deposits:
22.
The Corporation may accept deposits on such conditions as it deems fit
from persons authorities or institutions to whom allotment or sale of land
buildings or sheds is made or is likely to be made in furtherance of the
objects of this Act.
Reserve Aand Other Funds:
23.
(1) The Corporation shall make provision for such reserve and other
specially denominated funds and in such manner and to such extent as the State
Government may, from time to time, direct.
(2) The management of the funds referred to in-sub-section (1),the sums to
transferred from time to time to the credit thereof and the application of
money comprised therein, shall be determined by the Corporation.
(3) None of the funds referred to in sub-section (1) shall be utilised
for any purpose other than that for which it was constituted, without the
previous approval of the State Government.
Expenditure From Funds:
24.
(1) The Corporation shall have the authority to spend such sums as it
thinks fit for the purposes authorised under this Act from out of the general
fund of the Corporation referred to in section 19 or from the reserve and other
funds referred to in section 23, as the case may be.
(2) Without prejudice to the generality of the power conferred by sub-section
(1), the Corporation may contribute such sums as it thinks fit towards
expenditure incurred or to be incurred by any local authority or statuory
public undertaking in the performance, in relation to any of its industrial
estates or industrial areas, of any of the statuory functions of such authority
or undertaking, including expenditure incurred in the acquisition of land.
(3) No expenditure other than capital expenditure shall be incurred by the
Corporation out of moneys borrowed or received by way of deposits.
Budget And Programme of Work:
25.
(1) The Corporation shall, by such date in each year as may be
prescribed, prepare and submit to State Government for approval an annual
financial statement and the programme of work for the succeeding financial
year.
(2) The annual financial statement shall show the estimated receipts and
expenditure during the succeeding financial year in such form and details as
may be prescribed.
(3) With the approval of the State Government the Corporation shall be
competent to make variations in the programme of work in the course of the
year:
Provided that all such variations and reappropriations out of the sanctioned budget
are brought to the notice of the State Government by a supplementary financial
statement.
(4) A copy each of the annual financial statement and the programme of work and
the supplementary financial statement and the programme of work and the supplementary
financial statement, if any, on submission to the State Government as soon as
may be, shall be placed before the State Legislature.
Accounts And Audit:
26.
(1) The Corporation shall maintain books of account and other books in
relation to its business and transactions in such manner, as may be prescribed.
(2) The accounts of the Corporation shall be audited by an auditor appointed by
the State Government , in consultation with the Comptroller and Auditor General
of
(3) As soon as the accounts of the Corporation are audited, the Corporation
shall send a copy thereof together with the copy of the report of the auditor
thereon to the State Government.
(4) The State Government shall cause the accounts of the Corporation together
with the audit report thereon forwarded to it under sub-section (3) to be laid
annually before the State Legislature.
Concurrent And Special Audit of Accounts:
27.
(1) Notwithstanding anything contained in section 26, the State
Government may order that there shall be concurrent audit of the accounts of
the Corporation by such person as it thinks fit. The State Government may also
direct a special audit to be made by such person as it thinks fit of the
accounts of the Corporation relating to any particular transaction or class or
series of transactions or to a particular period.
(2) The State Government may pass such orders on the reports of the special
audit and the Corporation shall be bound to comply with such order.
(3) The report on the special audit shall be laid before the State Legislature.
(4) When an order is made under sub-section (1), the Corporation shall present
or cause to be presented for audit such accounts and shall furnish to the
person appointed under sub-section (1) such information as the said person may
require for the purpose of audit
Profile
GIDC - THE CUSTOMER ORIENTED CORPORATION
GIDC the most customer oriented corporation, came into existence in 1962,
under the Gujarat Industrial Development Act, 1962, with a vision of accelerate
the pace of industrialization in the State of
Having the Corporate and registered office at Udyog Bhavan, Gandhinagar,
it has extended operations all over the State of
An entrepreneur, wishing to start an industry, would always look for
availability of ready infrastructure, not only for speedy implementation but
also to reduce pre - project implementation cost / time. To enable an
entrepreneur to set up the project envisaged within available resources, GIDC
identifies locations suitable for industrial development and arranges for
infrastructure facilities that one would normally look for. GIDC industrial
estates are equipped with essential infrastructure facilities like roads,
drainage, power, water supply and street lights. Then there are the supportive
amenities and commercial facilities like banking, tele-communication, shopping
complex, canteens, schools, dispensaries, police chowky, community hall etc. In
many estates there are housing facilities for workers and executives. These low
cost ready to occupy houses prove to be a major boon, doing away with the need
for commuting from great distances. This helps the entrepreneurs in attracting
better talent and also results in enhanced productivity.
HELPING YOU SAVE A
Normally an entrepreneur establishing an industry would require a lot of
time to construct factory building, which would require substantial investment.
As against this, GIDC, in its industrial estates, provides the entrepreneurs,
ready to occupy factory sheds, ranging from built-up area of 60.80 sq.mtrs. to
678.96 sq.mtrs. Depending on the location, these ready to occupy factory sheds/
plots can be industry specific.
GIDC has remained abreast with the requirements of the time and has brought
into existence industry specific estates like the electronics estate at
Gandhinagar, ceramics estates near Bhavnagar, chemical estates at Vapi,
Ankleshwar, Panoli, Jhagadia, Nandesari, Vatwa, Naroda, Odhav etc and a host of
engineering estates spread all over Gujarat where the entrepreneur can have the
advantage of being along with his fellow trade people and can be easily
approachable by the visiting clients.
Streamlined procedures and customer-friendly approach has enabled GIDC to reach
out to the smallest entrepreneur. GIDC has currently manpower of 1905 which
includes professionals such as architects, civil engineers, town planners,
Divisonal accountants etc, Over the years, GIDC executives and professionals
have developed expertise in the development of industrial estates/parks and
provision of infrastructure such as designing and implementation of
water/effluent lines, construction of roads, sheds and quarters etc
Gujarat Industrial Development Corporation (GIDC) truly believes in a
win win business philosophy. With this in mind, GIDC has created 171 functional
industrial estates spread all over
CMT REPORT (Corruption, Money Laundering and Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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] 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.45.20 |
|
|
1 |
Rs.73.07 |
|
Euro |
1 |
Rs.61.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.