MIRA INFORM REPORT

Report Date :

03.10.2011

IDENTIFICATION DETAILS

Name :	GOA ELECTRICITY DEPARTMENT
Registered Office :	3^rd Floor, Vidhut Bhavan, Tiswadi, Goa – 403001
Country :	India
Year of Establishment :	January 1963
Capital Investment / Paid-up Capital :	Not Divulged
Legal Form :	Government Owned Department
Line of Business :	Transmission and distribution of electrical energy in the state of Goa
No. of Employees :	Not Divulged by Management

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an electricity department under control of government of Goa. The department is established for transmission and distribution of electrical energy in the state of Goa. Trade relations are fair. Payments are reported to be usually correct. The Department 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.

INFORMATION DECLINED BY

Name :	Mr. J. Rodriguez
Designation :	Join Directors of Account Department
Contact No.:	91-832-2426022 / 2426421 / 2221155
Date :	29.09.2011

LOCATIONS

Registered / Head Office :	3^rd Floor, Vidhut Bhavan, Tiswadi, Goa – 403001, India
Tel. No.:	91-832-2426022 / 2426421 / 2234155 / 2422353 / 2221155 / 2224680 / 2426986
Fax No.:	91-832-2222354
E-Mail :	Nbraganza04@yahoo.co.in Elec2008@bsnl.in Ceo_goa@eci.gov.in Jtceo_goa@eci.gov.in
Website :	http://www.electricity.goa.gov.in
Election Office :	Annexe Building of OD IPHB, Altinho Panaji
Tel. No.:	91-832-2435518 / 2225215

BUSINESS DETAILS

Line of Business :

Transmission and distribution of electrical energy in the state of Goa

GENERAL INFORMATION

No. of Employees :	Not Divulged by Management
Bankers :	Not Divulged
Facilities :	--
Banking Relations :	--

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	Not Divulged
Total :	Not Divulged

FINANCIAL DATA

[all figures are in Rupees Millions]

Not Divulged

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

LOCAL AGENCY FURTHER INFORMATION

Profile :

The Electricity Department of Goa was established in the year 1963 as a Government Department. It is considered as the only licensee in the state of Goa for transmission and distribution of electrical energy. The department purchases power of 16 Mw from Reliance Industries Limited. The Electricity Department pays the charges to Maharashtra State Electricity Board and KPTCC. The major objective of the department is to purchase power from Central Grid and other sources and then to transmit and distribute it to the consumers in the best possible way and with greater reliability.

Brief History and Present Status

The Electricity Department was created as a Government Department in the year 1963. The Electricity Department is the only licensee in the state of Goa for transmission and distribution of Electrical Energy.

The Department does not have its own generation and purchases power from the Central Sector Power Stations of the National Thermal Power Corporation as per the allocation made by the Central Government. The Total allocation of power from the NTPC is 332 Mw.

Besides this, the department also purchases power of 16 Mw from Reliance Industries Ltd., Sancoale.

There are no direct link lines between the generating station of NTPC and Goa and hence the NTPC power is availed through the Grids of the neighboring State of Maharashtra and Karnataka. The Electricity Department pays wheeling charges to Maharashtra State Electricity Board and KPTCC for using their line network for transmission of power from NTPC generating stations to Goa. The power from the Western region is wheeled from the MSEBS 400 KV Sub-Station at Kolhapur to the 400 KV Sub-Station at Colvale in Goa. From here the power is transmitted at 220kV level to Ponda and Tivim sub-stations of the Department. From the Southern region power is transmitted from Nagjhari to Ponda.

The Department has adopted Voltages of 220KV, 110KV and 33KV for sub transmission and 11KV and 440 volts for distribution purpose.

The Department has adopted overhead line system for transmission and distribution except for Panaji town where part of the area is covered by underground system. The remaining parts of Panaji and Margao town are now being provided with underground network.

All the towns and villages of Goa are electrified and any intending consumer can avail power supply by submitting requisition in the prescribed form to the appropriate office of the Department subject to fulfilling the required conditions and payment of charges as per conditions of supply of Electrical Energy and miscellaneous charges.

The power supply to the new consumers is released on single phase, 230 Volts for connected load up to 3KW and on three phase, 400 volts for connected loads above 3KW but less than 70 KVA/HP connected for a single consumer. The power supply for connected loads / contract demands above 70 KVA but less than 100KVA is released at a voltage of 11KV and above 1000KVA the same is released at 33KV voltage. The Chief Electrical Engineer, has however discretionary powers to release power supply at other voltages irrespective of connected load.

ORGANIZATION CHART

CHIEF ELECTRICAL ENGINEER, VIDHUT BHAVAN HEAD QUARTER, PANJIM

1. Superintending Engineer (Commercial & E.H.V.), H.Q. Panjim

2. Superintending Engineer Circle I (South), Margao

3. Joint Director Of Accounts, H.Q. Panjim

4. Executive Engineer, (Training) , H.Q. Panjim

5. Assistant Engineer (Stores Verification Unit), H.Q. Panjim

6. Superintending Engineer (Planning), H.Q. Panjim

7. Superintending Engineer Circle Ii (North), H.Q. Panjim

8. Deputy Director Of Administration, H.Q. Panjim

9. Executive Engineer (Energy Monitoring & T/D Losses), H.Q. Panjim

10. Executive Engineer Division Ii (Stores & Workshop), Margao

• Asst. Engineer (Tech)
• Subdiv-I (Rcc & W/S) Margao
• Subdiv-Ii (Stores) Margao
• Subdiv-Iii (Stores) Tivim
• Subdiv-Iv (Stores) Ponda

11. Executive Engineer (Procurement). H.Q. Panjim - Asst. Engineer (Procurement)

12. Executive Engineer Division Xv (Civil), Patto, Panjim

• Subdiv-I (Civil) Ponda
• Subdiv-Ii (Civil) Tivim
• Subdiv-Iii (Civil) Xeldem

13. Executive Engineer (New Division), Margao

• Asst. Engineer
• Asst. Engineer
• Asst. Engineer

14. Executive Engineer (New Division), Mapusa

• Asst. Engineer
• Asst. Engineer
• Asst. Engineer

TARIFF PATTERN CATEGORY WISE

TARIFF CATEGORIES

1. Domestic
2. Commercial
3. Agriculture
4. P.W.W.
5. Public Lighting
6. Industrial

1. Domestic :

Limited –

• 1ST 60 UNITS—100PS/UNIT
• 61 TO 250 UNTS-150PS/UNIT
• 251 TO 500 UNITS 220PS/UNIT
• > 500 UNITS- 250PS/UNIT

Limited [Mixed]

• 1ST400 UNITS - 230 PS/UNIT
• > 400 UNITS- 300 PS/UNIT

2. Commercial

• 1ST 100 UNITS - 275 PS/UNIT
• 101 TO 1000 UNITS- 350PS/UNIT
• > 500 UNITS - 380 PS/UNIT

3. Agriculture

LTAG

• Minimum — Rs. 120/-
• Per Hp/Month
• All Units – 100 Ps/Unit

HTAG

• Minimum — Rs. 10/- Per Hp/Month
• All Units – 125 Ps/Unit

4. P.W.W.

• Demand – Rs.150 Per Month/Kva
• All Consumption – 300 Ps/Unit

5. Public Lighting
• All Consumption – 300 Ps/Unit

6. Industrial

• LTP
• LT [Hotel]
• HT [IT High Tech]
• HTM
• EHT / HTI
• HT [Ferro]

1.LTP

• Upto 50hp – 255 Ps/Unit
• > 50 Hp - 295 Ps/Unit

2. LT [Hotel]

• Connected Load > 3kw
• All Units – 350 Ps/Unit

3. HT [IT High Tech]

• Demand – Rs.150 Per Month/Kva
• All Consumption – 225 Ps/Unit

4. HTM

• Demand – Rs.150 Per Month/Kva
• All Consumption – 325 Ps/Unit

5. EHT / HTI

• Demand – Rs.150 Per Month/Kva
• All Consumption – 300 Ps/Unit

6. HT [Ferro]

• Demand – Rs.700 Per Month/Kva
• 1st 300 Units/Kva – 100 Ps/Unit
• Next 200 Units/Kva– 200 Ps/Unit
• Above 500 Units/Kva – 250 Ps/Unit

TARIFF CATEGORIES

• Domestic

% of Consumption – 26

% of Revenue – 14

Average tariff [n paise] – 168

• Commercial

% of Consumption – 7

% of Revenue – 8.5

Average tariff [n paise] – 373

• Agriculture

% of Consumption – 0.70

% of Revenue – 0.38

Average tariff [n paise] – 159

• P.W.W.

% of Consumption – 0.77

% of Revenue – 5.0

Average tariff [n paise] – 300

• Public Lighting

% of Consumption – 1.60

% of Revenue –0.99

Average tariff [n paise] – 200

• Industrial

% of Consumption – 61

% of Revenue – 69

Average tariff [n paise] – 334 [LT-294 / HT-331 / HTM-396]

DIV-I, PANAJI

Area wise Section offices

Sr No	Name of Sub-Div	Name of Section Office	Section Off. Tel. No.	Areas Covered
1	Sub-Div-I(R ) Panaji	Section Office Chorao.	2239552	Chorao V.P. area
		Section Office Divar.	2280200	St. Matdas & Goltim Navelim Panchayat Area
		Section Office Old Goa	2284797	Old Goa V.P. area
		Section Office Corlim, Carambolim.	2285021	Corlim & Carambolim
		33,11 kV Corlim S/S	2285310
		Section Office St. Estevam	2285021	St. Estevam V.P. area
		Section Office Kumbharjua	2285310	Kumbharjua V.P. area
	Sub-div II(U) Panaji	Altinho S/S NIO S/S	2225836 2453920	HT lines under Panaji Municipal area
		EDC S/S Vidyut Bhavan	2431275 2225853	Panaji Municipal area
	Sub-div-III( R ) Bambolim	Section Office Agacaim	2218954	Agacaim, Pilar
		Section office Neura	2208500	Neura, Agassim, Mandier, Goa Velha, Batim, Telulim,Curca,Santan, Surla
		Section office St.Cruz	2458304	St. Cruz
		Section office Merces Bambolim S/S	2458304	Merces, Chimbel Bambolim area
2.	Elect. Div-IV, Margao
	Sub-div I, Margao	Section Office Curtorim	2786529	Curtorim & Macazana V.P.
		Section office Camurlim	2777456	Loutolim & Camurlim
		Section office Nessai	2860621	S.Jose de areal & part of Paroda
		Section office Guirdolim	2784914	Chandor V.P. & Guirdolim V.P.
		Section office Raia	2776831	Rai V.P. & Ilha de
		Nessai S/s	2860311
		Raia Sub-Station	2776155
	Sub-Div-II, Margao	Section Office Benaulim	2771951	Benaulim, Pulwado, Majilwado, Ascona
		Section office Davorlim	2756900	Davorlim, Aquem Baixo, Mandop, Zoriwado, Dicarpale Ravanfond
		Section office Navelim	2700509	Navelim, Sinquetim,Nagmodem Ratwado, Betim, Dialgona, Pedralem, Coldem, Telaulim
		Section office Varca	2745898	Cavelossim, Orlim, Varca, Mobar, Carmona, Fatorda
		Section office Colva	2788109	Colva, Betalbatim, Serbatim,Per-Seraulim
		Benaulim Sub-Station	2771950
	Sub-Div-III, Canacona	Section office Agonda	2647555	Agonda, Colva V.P.
		Section office Chaudi	2643331	Canacona Municipal,Canacona
		Section office Poinguinim	2641360	Poiguinim & Loliem V.P. Shristhal, Gaodongri, Cotigao V.P.
		Canacona Sub-Station	2643333
		Poinguinim Sub-Station	2639099
	Sub-Div-IV, Margao	Section office Cuncolim	2763622	Cuncolim Municipal Council & parts of Sarzora Panchayat area
		Section office Chinchinim	2863031	V. P. Chinchinim, Dramapur-Sirlim
		Section office Bali	2670070	V. P. Balli, Fatorpa, Morpirla, Narcem
		Section office Assolna	2775032	V. P. Assolna, Ambelim, Velim, Betul & Nuvem - Khola
		Cuncolim Sub-Station	2763214	Aquem
		Velim Sub-Station	2774444	Aquem
	Sub-Div-V, Margao	Section office Aquem	2735135 2725100	Aquem Aquem
		Complaint Centre Aquem	2735135 2725100	Aquem
		Aquem Sub-Station	2724341
		Monte Hill Sub-Station	2702160
		KRC Navelim Sub-Station	2757516
	Sub-Div-VI, Margao	Section Office Fatorda	2741344	Margao & Fatorda
		Fatorda Sub-Station	2741344
		Complaint Centre Fatorda	2735135 2725100
3.	Elect. Div-V, Bicholim
	Sub-Div (U), Bicholim	Section Office Kasarpal	2380180	Sal, Latambarsem, Imbrampur
		Section office Assnoda	2215734	Assonda, Adalpal, Mencure, Sirgao, Mulgao
		Section office Indl.Est. Bicholim	2361447	Ind. Est.Van, Maulinguem Mayem, Narve, Paira, Pilgao
	Sub-Div-II (R), Sankhali	Section office Market Yard	2364534	Sankhali, Honda, Virdi, Karapur, Sarvan Vathadev
		Section Office Parye		Keri, Morle, Parye
		Section Office Pale	2372236	Pale, Kothambi, Surla, Velguem
		Section office Kudne	2364953	Kudne, Amona, Navelim
		Section office Honda Ind.Est.	2370419	Honda Panchayat, Pisurle Panchayat
	Sub-div III Valpoi	Section office Municipal Council	2374244	Valpoi Municipal Council area
		Section office Thane		Thane Panchayat, Mauxi Panchayat
		Section office Khotoda		Khotoda, Guleli, Bhironda
		Section office Nagargao		Nagargao Panchayat area Savordem Panchayat area
4.	Elect. Div-VI, Mapusa
	Div VI Mapusa Sub-div I	Section I	2262218	Khorlim Mapusa Market, Housing Board, Ansabhat
		Section II	2262218	Angod, Gaunswado, Altino, Pedem
		Section III	2262218	Guirim, Parra Verla-Canca
		Section IV	2262200	Sodiem, Marna, Siolim, Oxel
		Section V	2262218	Dangui Colony, Duler, Kuchelim
		H.T. Maitenance	2265385	Acoi, Karaswado
		Section Office Porvorim	2262451	Verla/Canca (Mapusa S/S)
	Sub-Div-II	Section office Britona	2417711	Socorro, Salvador de mundo, part of Sangolda
		Section Office Saligao	2417711	Penha- de France, part of Verem, Reis Magos part of Pilerne Pilerne Inds.,Saligao, Arpora, Nagoa, Sangolda
		Section Office Candolim	2409190	Candolim
		Section Office Calangute	2276075	Calangute
		Section Office Verem	2276075	Reis Magos, Pilerne, Nerul, part of Pecnha-de-France
		Section Office Tivim-Volvenem	2402816	V.P. Tivim, Sirsaim
	Sub-Div-III	Section Office Aldona	2293717	V.P. Aldona, Pomborpa
		Section Office Karaswada	2293904	V.P. Camurli Ind.Est.Karaswada
		Section Office Moira	2257453	V.P. Moira, Nachinola, Ucassaim, Bastora
		Section Office Anjuna	2470717	V.P. Anjuna, Assagao
		Section Office Colvale	2274380	V.P. Revora, Pirna, Colvale, Nadora
		Section Office Mandrem	2299396	Morji, Mandrem, Harambol
5.	Elect. Div-VII, Curchorem
	Sub-div I Curchorem	Section Office Dabal	2618022	Bandol, Markonem, Kirpal, Codli, Vagon, Kalsai Sadgar, Karnaco & Tatodi, Ambedulai, Devikond Perimol Vaidev
		Curchorem Sub-Station	2650623
		Shigao Sub-Station	2600055
	Sub-Div-II, Quepem	Section office Tilamol	2662230	Tilamol, Xeldem, Assolda
		Section Office Rivona	2602401	Pimplamoi, Kumbarwada, Sirvoi, Zambaulim, Molkarnem, Rivona, Cotomba
		Section office Paroda	2869511	Paroda, Gudi, Avadem, Cottombi
		Section Office Cavrem-Pirla		Cavrem, Pirla, Maina, Ambaulim, V.P. area Copelabhat Deao
		Revona Sub-Station	2602603
	Sub-Div-III, Sanguem	Section Office Netravali	2608230	Salgini, Verla, Tudav, Chaudi, Numem, Vichudrem, Jakem, Villigan, Potrem, Bhati, Naiquini, Valsem, Bomdemol, Barazan Kumao
		Sanguem Sub-Station	2991023
		Vaddem Sub-Station	2608473
6.	Elect. Div-X, Ponda
	Sub-div I, Ponda	Section office Ponda	2312113	Ponda Municipal area, Curti Village, Farmagudi, Dhavali, Chirpute-Priol
		Section OfficeSavoi-Verem	2340213	Savoi-Verem, Volvoi, Kerim, Arlawada
		Section Office Marcela	2287331	Marcela, Tonca, Betqui, Khondola, Adcona, Banastari, Tivrem-Orgao.
		Section OfficeKundaim Ind. Estate	2396106	Kundai Ind. Est.,33/11kV, S/S Kundaim
		Section Office Mardol	2343878	Mardol, Mangeshi, Priol, Madkai, Kundaim
		Section Office Kavale	2315916	Kapaleshwari, Kavale, Bandora, Undir, Khorade,Talalium, Durbhat, Gaune
		Section Office Usgao	2344417	Khandepar, Usgao, Ganjem, Guleli, Tiral, Kasaili
		Section office Dharbandora	2614006	Tambadisurla, Sancordem, Pollyem, Dharbandora
		Section office Shiroda	2306300	Bori, Shiroda, Karai, Paz, Torla, Panchwadi
		Section office Bethoda	2330150	Nirankal, Bethoda, Kodar
7.	Elect. Div-XI, Vasco
	Sub-Div-I, Vasco	Section office Vasco city	2512606	Vasco city
		Section office Vaddem	2519210	Vadem, New Vadem, Chicalim
		Section office Mangor Hill	2519210	Mangor Hill, Shantinagar
		Harbour Sub-Station	2513698
		Kadamba Vasco Sub-Station	2516882
	Sub-div II, Vasco	Section office Chicalim	2540951	V. P. Chicalim, Matvem, Dabolim, St. Jacinto Island
		Section office Cortalim	2550238	Cortalim, Kesarwal, Callosim, Consua
		Section office Sancoale	2555829	Sancolae, Zuarinagar, Bogmalo, Alto Dabolim
		Sancoale Sub-Station	2555729
		Section office Verna	2888478	Verna Industrial Estate
	Sub-div III, Verna	Section office Nuvem	2790740	V. P. Nuvem
		Section office Verna	2782330	V. P. Verna
		Section office Cansaulim	2754969	V. P. Cansaulim
		Section office Velsao	2755223	V. P. Velsao
		Section office Majorda	2881447	V. P. Majorda, V. P. Utorda
		Utorda Sub-Station	2757558
	Sub-Div-IV	Section office Sada/Jetty	2521381	Harbour, Headland Sada
		Section office Baina	2515604	Jetty, Vasco

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.92
UK Pound	1	Rs.75.51
Euro	1	Rs.66.64

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.