1. Summary Information
|
|
|
Country |
|
|
Company Name |
DELHI TRANSCO
LIMITED |
Principal Name 1 |
Mr. Ram Krishna Narayan |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Dharmendra Roopkishore |
|
|
|
Registration # |
55-111529 |
|
Street Address |
Shakti Sadan,
Kotla Marg, New Delhi-110002, |
||
|
Established Date |
04.07.2001 |
SIC Code |
-- |
|
Telephone# |
91-11-23235380 |
Business Style 1 |
Transmission of Powers. |
|
Fax # |
91-11-23238064 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
36,320,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Government (Central and State) - 95.04% Government Companies – 4.96% |
Banking |
State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
10 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
|
Delhi Power Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,744,582,000 |
Current Liabilities |
4,398,419,000 |
|
Inventories |
115,120,000 |
Long-term Liabilities |
10,761,581,000 |
|
Fixed Assets |
7,508,227,000 |
Other Liabilities |
1,717,161,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
16,877,161,000 |
|
Invest& other Assets |
5,009,728,000 |
Retained Earnings |
235,717,000 |
|
|
|
Net Worth |
1,500,496,000 |
|
Total Assets |
18,377,657,000 |
Total Liab. & Equity |
18,377,657,000 |
|
Total Assets (Previous Year) |
10,563,832,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
3,361,319,000 |
Net Profit |
772,734,000 |
|
Sales(Previous yr) |
3,260,563,000 |
Net Profit(Prev.yr) |
634,933,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
DELHI TRANSCO LIMITED (w.e.f. 30.09.2002) |
|
|
|
|
Formerly Known As : |
DELHI POWER SUPPLY COMPANY LIMITED |
|
|
|
|
Registered Office : |
Shakti Sadan, Kotla Marg, New Delhi-110002 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
04.07.2001 |
|
|
|
|
Com. Reg. No.: |
55-111529 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.36320.000 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U40103DL2001SGC111529 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELD05482B |
|
|
|
|
Legal Form : |
A Public Limited Company, owned by Delhi State Government. |
|
|
|
|
Line of Business : |
Transmission of Powers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a State Government Company. It is a well established and a
reputed company having satisfactory track. The creditors and the lenders can
be confident of their exposures in the company, since it is a government
company. Trade relations are fair. Business is active. Payments are reported
to be usually correct. The Company can be considered good for normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Head office : |
Shakti Sadan, Kotla Marg, New Delhi-110002, |
|
Tel. No.: |
91-11-23235380 |
|
Fax No.: |
91-11-23238064 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
I.T. Department : |
220 KV Substation, |
|
Email : |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Dharmendra Roopkishore |
|
Designation : |
Director |
|
Address : |
V – 9, Satya Sadan, Satya Marg, Chanakyapuri, |
|
Date of Birth/Age : |
17.09.1965 |
|
Date of Appointment : |
10.09.2008 |
|
DIN No.: |
01583889 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U10200DL1985SGC021040 |
Delhi State
Mineral Development Corporation Ltd |
Director |
25-02-08 |
25-02-08 |
- |
Active |
|
|
2 |
U40103DL2001SGC111528 |
Delhi Power
Company Limited |
Director |
10-09-08 |
10-09-08 |
- |
Active |
NO |
|
3 |
U40103DL2001SGC111529 |
Delhi Transco
Limited |
Director |
10-09-08 |
10-09-08 |
- |
Active |
NO |
|
4 |
U40103DL2001SGC111530 |
Indraprastha
Power Generation Company Limited |
Nominee director |
10-09-08 |
10-09-08 |
- |
Active |
NO |
|
5 |
U74899DL2001SGC109135 |
Pragati Power
Corporation Limited |
Nominee director |
10-09-08 |
10-09-08 |
- |
Active |
NO |
|
6 |
U74899DL2001PLC111525 |
Bses Yamuna
Power Limited |
Nominee director |
21-05-11 |
21-05-11 |
- |
Active |
NO |
|
7 |
U74899DL2001PLC111527 |
Bses Rajdhani
Power Limited |
Nominee director |
21-05-11 |
21-05-11 |
- |
Active |
NO |
|
Name : |
Mr. Ram Krishna Narayan |
|
Designation : |
Director |
|
Address : |
A - 1/ 08 Silver Estate, F - 29 Sector – 50, Noida - 201305 Uttar Pradesh |
|
Date of Birth/Age : |
29.07.1937 |
|
Date of Appointment : |
09.08.2002 |
|
DIN No.: |
00008383 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U40103DL2001SGC111529 |
Delhi Transco
Limited |
Director |
09-08-02 |
09-08-02 |
- |
Active |
NO |
|
2 |
U40100GJ1991PLC064824 |
Essar Power
Limited |
Director |
31-03-03 |
31-03-03 |
- |
Active |
NO |
|
3 |
U31101GJ1995PLC065146 |
Bhander Power
Limited |
Director |
30-06-04 |
30-06-04 |
- |
Active |
NO |
|
4 |
U40100DL2005PLC201961 |
Essar Power M P
Limited |
Director |
29-09-07 |
08-09-06 |
- |
Active |
NO |
|
5 |
U40101DL2006PLC154627 |
Jaypee Powergrid
Limited |
Director |
02-03-07 |
02-03-07 |
- |
Active |
NO |
|
6 |
U74200DL2007PTC166940 |
Accurate Power
Utility Private Limited |
Director |
13-08-07 |
13-08-07 |
- |
Active |
NO |
|
7 |
U31200DL1995PLC169397 |
Skipper
Electricals ( |
Director |
29-09-08 |
21-12-07 |
- |
Active |
NO |
|
8 |
U65100DL2008PTC175845 |
Power Equity
Capital Advisors Private Limited |
Director |
25-03-08 |
25-03-08 |
- |
Active |
NO |
|
9 |
U93000DL2010NPL197674 |
Forum For
Advancement Of Solar Thermal |
Director |
06-01-10 |
06-01-10 |
- |
Active |
NO |
|
10 |
U13100WB2010PTC140900 |
Green Valley
Energy Ventures Private Limited |
Director |
18-01-11 |
18-01-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Prafulla Kumar Malik |
|
Designation : |
Secretary |
|
Address : |
YA-9, Sah Vikas CGHS, 68, Patparganj Extension, Delhi-110092, |
|
Date of Birth/Age : |
21.01.1963 |
|
Date of Appointment : |
31.12.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Delhi Power Company Limited, |
|
179999991 |
|
J. P. Singh |
|
1 |
|
Dharmendra |
|
1 |
|
Mr. Rakesh Mehta |
|
1 |
|
Mr. Rajendra Kumar |
|
1 |
|
Mr. G. S. Patnaik |
|
1 |
|
Mr. Ajay Kumar Singla |
|
1 |
|
Lieutenant Governor of |
|
3452000000 |
|
Rakesh Behari |
|
1 |
|
Arvind Ray |
|
1 |
|
Harish K. Ahuja |
|
1 |
|
Total |
|
3632000000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage |
|
Government (Central and State) |
|
95.04 |
|
Government Companies |
|
4.96 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Transmission of Powers. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj K. Aggarwal and Associates Chartered Accountants |
|
Address : |
3072/41, Gola Market, Near Golcha Cinema, Daryaganj, |
|
Tel No.: |
91-11-23276964 / 23267547 |
|
Fax No.: |
91-11-23276964 |
|
E-Mail : |
|
|
PAN : |
AABFR4843B |
|
|
|
|
Holding Company: |
Delhi Power Company Limited U40103DL2001PLC111528 |
CAPITAL STRUCTURE
After on 30.09.2010
Authorised Capital : Rs.45000.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.39510.000 Millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4500000000 |
Equity Shares |
Rs. 10/- each |
Rs. 45000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3632000000 |
Equity Shares |
Rs. 10/- each |
Rs. 36320.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
36320.000 |
36320.000 |
36320.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
235.717 |
107.189 |
79.216 |
|
|
4] (Accumulated Losses) |
(35055.221) |
(35572.327) |
(36073.056) |
|
|
NETWORTH |
1500.496 |
854.862 |
326.160 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6617.801 |
1768.309 |
1979.338 |
|
|
2] Unsecured Loans |
4143.780 |
4506.540 |
3869.300 |
|
|
TOTAL BORROWING |
10761.581 |
6274.849 |
5848.638 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12262.077 |
7129.711 |
6174.798 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7508.227 |
7220.403 |
6330.951 |
|
|
Capital work-in-progress |
4942.592 |
901.540 |
567.456 |
|
|
|
|
|
|
|
|
INVESTMENT |
67.136 |
116.963 |
146.642 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
115.120
|
118.170
|
184.174
|
|
|
Sundry Debtors |
2987.396
|
2160.182
|
1795.202
|
|
|
Cash & Bank Balances |
1695.011
|
1020.035
|
768.830
|
|
|
Other Current Assets |
23.874
|
45.629
|
0.000
|
|
|
Loans & Advances |
1038.301
|
266.976
|
514.964
|
|
Total
Current Assets |
5859.702
|
3610.992
|
3263.170
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
581.380
|
130.693
|
310.872 |
|
|
Other Current Liabilities |
3817.039
|
3303.428
|
2386.194
|
|
|
Provisions |
1717.161
|
1286.066
|
1436.355
|
|
Total
Current Liabilities |
6115.580
|
4720.187
|
4133.421
|
|
|
Net Current Assets |
(255.878)
|
(1109.195)
|
(870.251)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12262.077 |
7129.711 |
6174.798 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from operation |
3361.319 |
3260.563 |
2261.589 |
|
|
|
Other Income |
430.736 |
655.090 |
154.782 |
|
|
|
Rebate Received on Power Purchase (Revised Tariff) |
1.713 |
5.010 |
36.341 |
|
|
|
TOTAL |
3793.768 |
3920.663 |
2452.712 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenditure on revised tariff |
467.735 |
1357.861 |
0.000 |
|
|
|
Stores consumed |
35.519 |
24.712 |
19.935 |
|
|
|
Administration and other expenses |
1126.574 |
791.374 |
634.316 |
|
|
|
Rebate on wheeling charges |
0.000 |
0.000 |
18.114 |
|
|
|
Other expenditure |
0.000 |
0.000 |
0.000 |
|
|
|
Provision for assets under dismantling / Unserviceable Stores |
0.000 |
0.000 |
46.061 |
|
|
|
TOTAL |
1629.828 |
2173.947 |
718.426 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2163.940 |
1746.716 |
1734.286 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
FINANCIAL EXPENSES |
523.881 |
500.871 |
668.676 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1640.059 |
1245.845 |
1065.610 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
518.840 |
530.259 |
492.904 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE PRIOR
PERIOD ADJUSTMENT AND EXTRA ORDINARY ITEMS |
1121.219 |
715.586 |
572.706 |
|
|
|
|
|
|
|
|
|
Less / Add |
PRIOR PERIOD
ADJUSTMENT |
(190.270) |
7.268 |
15.157 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
930.949 |
722.854 |
587.863 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
158.215 |
87.921 |
70.962 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
772.734 |
634.933 |
516.901 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(35572.327) |
(36073.056) |
(36483.240) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Insurance Reserve |
(12.917) |
(12.100) |
(10.700) |
|
|
|
Redemption Reserve |
(200.000) |
0.000 |
0.000 |
|
|
|
Contingency Reserve Back |
55.593 |
0.000 |
|
|
|
|
General Reserve |
28.796 |
(15.873) |
(12.923) |
|
|
|
Proposed Dividend |
(109.000) |
(90.800) |
(71.024) |
|
|
|
Dividend Distribution Tax |
(18.100) |
(15.431) |
(12.070) |
|
|
|
Losses B/F from Last year |
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(35055.221) |
(35572.327) |
(36073.056) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.21 |
0.17 |
2.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
20.37
|
16.19
|
21.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
27.70
|
22.17
|
25.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.60
|
7.31
|
6.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.62
|
0.85
|
1.80 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.25
|
12.86
|
30.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
0.77
|
0.79 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Register red office of the company has been sifted from Shakti Bhavan,
FINANCIAL
HIGHLIGHTS
OPERATING
PROFITS
During the year 2009-10, the company has earned profit
before tax of Rs.931.000 Millions and the profit after tax is Rs.772.800
Millions. The profit after taxes has risen by 21.72% in the financial year
2009-10 in comparison to the financial year 2008-09. The company, as per the
decision of the Appellate Tribunal, has booked income to the tune of
Rs.1180.500 Millions as trued up income being the amount of revised power
purchase cost and ULDC / RLDC charges for the previous years. Further, the
company has received an amount of Rs.320.500 millions on the overdue payments
relating to UI sales made by the company till the financial year 2006-07.
During the year 2009-10, the company has incurred a net liability towards
revised power purchase cost amounting to Rs.467.700 Millions. This year, the
company has disbursed the pay revision arrears amounting to Rs.394.800 Millions
in pursuance of the decision of the GNCTD based on the recommendations of Wage
Revision Committee. To recover the said cost in the ARR, the company has filed
a truing up petition before DERC, which is pending for decision by the
Honorable commission.
As per
the order passed by Appellate Tribunal for Electricity in the month of January
2009 on the appeal filed by DTL, the company is also entitled to claim, a sum
of Rs.6399.400 millions relating to the past DVB arrears which were treated by
the Honorable commission (DERC) as income of the company though not actually
received by it. The company has filed a petition before DERC for claiming the
said amounts along with carrying costs, which works out to Rs.9764.400
millions. The income against the same shall be taken in the accounts of the
company on the final disposal of the matter pending before the Honorable
Supreme Court.
The Department of Service Tax had issued show cause notices
against the Company for claiming the Service Tax on the transmission charges
for the period April 2007 to September, 2008 and for the period October, 2008
to September, 2009 amounting to Rs315.872 millions and Rs.205.466 millions
respectively. The matter has been taken by DTL along with other transmission
companies with the ministry of Finance, Government of India through Ministry of
Power. Vide notification No 45/2010 dated 20.07.2010, the Ministry of Finance,
Government of India has withdrawn the levy of service tax on transmission
charges up to 26.02.2010 (thereafter the service tax has been abolished by the
amendment of Finance Act). In view of the same the aforesaid show cause cum
demand notices issued against the company are deemed to have been withdrawn by
the department
CONTINGENT
LIABILITY
a. The contingent liability on account of arbitration I Court cases is
Rs.574.153 Millions plus interest (Previous year Rs.643.209 Millions plus
interest) against the counter claim of the Company amounting to Rs.9213.873
Millions (Previous Year Rs.9213.873 Millions).
b. The Department of Income Tax has raised demands of Rs.31.987 Millions
and Rs.29.300 Millions for the FY 2004-05 and 2005-06 in connection with the
matter of TDS u/s 201 A. The Company has disputed and appealed against the same
on the basis of legal advice and merits and the appeal is pending for disposal.
c. Liability of the Company given to banks against LC’s/Foreign LC
issued by the banks on behalf of the Company is as follow.
(Rs.In
Millions)
|
Sr No. |
Currency |
31.03.2010 |
|
1 |
In US Dollar |
1.272 |
|
2 |
In INR |
118.308 |
|
3. |
In CHF |
0.839 |
d. Estimated value of contracts remaining to be executed on Capital Account
(net of advance) and not provided for as at 31st March 2010 amounts to
Rs.12462.000 Millions (previous Year Rs.2122.600 Millions).
e. A sum of Rs.1.051 Millions claimed by THDC on account of LPSC has
been disputed by the company based on Statutory and contractual merits. The
LPSC on the revised power purchase cost claimable by the generation utilities
on provisional basis works out to Rs60.694 Millions, against which the company
is also entitled to recover the said purchase cost along with the LPSC from the
Discoms as per the regulations.
FORM 8
|
Corporate identity number of the company |
U40103DL2001SGC111529 |
|
Name of the company |
DELHI TRANSCO LIMITED |
|
Address of the registered office or of the principal place of business in |
Shakti Sadan, Kotla Marg, E-Mail : cs@delhitransco.gov.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
Allahabad Bank, H-12, E-Mail : seeman_sn@yahoo.co.in
|
|
Nature of instrument creating charge |
1. Sanction Letter Dated 18.02.2011 2. Term Loan Agreement Dated 31.03.2011 |
|
Date of instrument Creating the charge |
31.03.2011 |
|
Amount secured by the charge |
Rs.1500.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest 10.50% P.A. (Fixed) Terms of repayment Terms loan of Rs.1500.000 Millions shall be repayable in 12 equal
annual installments starting from 37th month from date of 1st disbursement.
Interest to be serviced as and when due. Extent and operation of the charge As per Term Loan Agreement and Sanction letter |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Entire assets of the borrower along with the tangible, movable machinery
and plant, spares, tools and accessories, both present and future, whether
lying loose or in cases which are now lying or stored in or about or shall be
brought into or be stored or be in or upon or about the borrower's premises
and godowns or wherever else the same may be or be held by an party to the
order or disposition of the borrower. |
FIXED ASSETS:
- Land and Land Rights
- Buildings (Substation)
- Buildings (Office)
- Building (Residential Colonies)
- Meters
- Four Bays of 400KV
- Other Civil Works
- Plant and Machinery
- SCADA and PLCC(Owned)
- SCADA and PLCC(Leased)
- Lines, Cables Network, etc
- Furniture and Fixtures
- Computers
- Small Value Assets
WEBSITE DETAILS:
BRIEF HISTORY OF
POWER SECTOR IN
Introduction: - Electricity
plays a vital role in their day-to-day life. It powers their houses,
industries, hospitals and in fact their entire economy. Historically
speaking the modern electricity industry utility system was first introduced to
the world on the opening of Thomas Edison’s Pearl Street Electricity Generating
Station on September 4th , 1882 at
Promulgation of Electricity (Supply)Act 1948:- In the year 1948, electricity (Supply) Act 1948 came into force, which inter-alia provided for the constitution of an electricity Board in the States that was to function as a vertically integrated electricity utility in the entire State, undertaking all the functions of activities related to electricity, which included electricity generation, transmission, distribution, supply, planning coordination and also was to act as regulatory authority for carrying out other functions incidental and ancillary thereto. In other words, the Electricity (Supply) Act 1948 was entitled to become a monopolistic undertaking in the field of electricity control by an instrument of the state and not by private sector. The principal objective behind the above policy decision of the Government of India in providing for the constitution of State electricity to all, particularly in semi-urban and rural areas because till then the availability of electricity was confined to urban areas and was mainly served by private electricity distribution licenses issued under the Indian electricity Act 1910.
Formation of
Notification of Industrial Policy Resolution:- In the year 1952 the Government of India notified the Industrial Policy Resolution under the Industries Development and Regulation Act 1951 where under the electricity industry, which included all aspects of generation, transmission, distribution, and supply of electricity, came to be reserved for State sector. In other words, the private sector was not entitled to commence any business of generation, transmission, distribution, and (or) supply of electricity.
Formation of
Constitution of
Practical difficulties in the working of Delhi Vidyut Board:- The activities of Delhi Vidyut Board from its inception, and as a matter of fact even prior thereto when the activities were being undertaken by DESU, were not financially viable on account of several factors affecting the electricity industry including the high level of losses in the system and the revenues being not able to meet the cost with result that like other State electricity Boards, Delhi vidyut Board suffered operating deficit in aggregate to the tune of Rs.23867.200 Millions during the period from 1995-96 to 2000-01. In addition the Delhi Vidyut Board was required to make adequate provision for bad and doubtful debts. The cumulative effect of all these factors was that the Delhi Vidyut Board was not in a position to meet its financial obligations and commitments including the payment for power purchased from generation companies and suppliers, such NTPC Limited, Nuclear Power Corporation Limited, national Hydroelectric Corporation Limited, etc., etc.
Unbundling of
Growth in demand of electricity:- Thus, starting
the humble origin, i.e., Private Limited Company having a few employees with
primitive generation process, the generation, transmission, and distribution of
power to the citizens of Delhi has now come in the hands of above mentioned six
Companies with an employee strength which has grown over the years from a
meager figure of few hundred to about 20,000. Prior to 1951, the demand
of power in
Present Scenario: - The role of Delhi
Transco Limited is confined to arrange and provide transmission network of 400
KV and 220 KV source from Northern Grig. The present infrastructure for
this purpose under 400 KV systems is 4,725 MVA (2520 MVA with DTL and 2205 with
Power Grid Corporation). As against this, 220 KV sub Stations have the
capacity of 6,300 MVA is available for
Future Plans :- In the 11th
Plan ending 2011-12 the transmission capacity is proposed to be augmented to
meet the future requirements. Under 400 KV system, it is proposed to
establish new Sub Stations at Mundka,
To sum up, by 2011-12 transformation
capacity of 8460 MVA will be added and a total capacity of 19485 MVA will be
available to
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 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.48.89 |
|
|
1 |
Rs.77.31 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
45 |
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.