MIRA
INFORM REPORT
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Report Date : |
03.09.2011 |
IDENTIFICATION DETAILS
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Name : |
MAA FOUNDATION |
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Registered
Office : |
Bilakhia House, Muktanand Marg, Chala, Vapi – 396191, Gujarat |
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Country : |
India |
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Year of
Establishment : |
2005 |
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Capital
Investment : |
Not Divulged |
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Legal Form : |
Trust |
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Line of Business
: |
They provide education to the people |
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No. of Employees
: |
500 (Office + Regional Office) [approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a charitable organization established for bringing about educational
reforms in the society. The organization has develop a web portal which would
provide valuable information to the entire education community. The foundation has completely funded by the Bilakhia Family. Trade
relations are reported as fair. Payment terms are unknown. Subject can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Virat Jain |
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Designation : |
Executive Officer |
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Contact No.: |
91-278-2568891 |
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Date : |
30.08.2011 |
LOCATIONS
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Registered Office : |
Bilakhia House, Muktanand Marg, Chala, Vapi – 396191, Gujarat, India |
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Tel. No.: |
91-260-6545172/73 |
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Fax No.: |
91-260-3000091 |
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E-Mail : |
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Website : |
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Regional Office : |
Jeet Plot No. 2130/A, Atabhai Road, Krishnanagar, Bhavnagar – 364001,
Gujarat, India |
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Tel. No.: |
91-278-2568891 |
MANAGEMENT
Bilakhia Group of Company
KEY EXECUTIVES
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Name : |
Mr. Virat Jain |
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Designation : |
Executive Officer |
BUSINESS DETAILS
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Line of Business : |
They provide education to the people |
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GENERAL INFORMATION
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No. of Employees : |
500 (Office + Regional Office) [approximately] |
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Bankers : |
·
Not Available |
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Banking
Relations : |
-- |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE DETAILS
Why Subject?
·
Today India is progressing at a fast pace, but the benefits of the
economic growth are limited to the people of the urban area
·
The benefits and effects of economic growth is not percolating
to the rural areas.
·
Due to the growth in the service sectors in India there is a
tremendous demand for skilled and educated workforce. This demand is
continuously increasing.
·
Only if this requirement of skilled and educated workforce is
met will India be able to emerge as a true economic superpower.
·
The benefits of the growth will percolate to the rural areas
only if quality education reaches the most rural areas of the country.
·
The Indian education system today is facing a lot of issues like
lack of infrastructure in schools, rote learning, lack of efficient and
dedicated teachers, high dropout ratio, limited use of technology in teaching,
high student- teacher ratio etc.
·
Looking at the gravity of these problems, efforts made by the
government alone will not be sufficient. It is important that educated citizens
of the country dedicate their time and money for improving the quality of
education in the rural areas.
Subject
is an endeavor made by the Bilakhia group in bringing to work hand in hand with
the government to bring about educational reforms in the society.
Profile:
Maa
means mother - Subject is a Charitable (not-for-profit) organization completely
funded by the Bilakhia family for bringing about educational reforms in the
society.
·
The seeds of Subject were sowed back in 1907, through
Noorbaimaa, a gold medalist and grandmother of the Bilakhia brothers, who
taught them the importance of education.
·
Noorbaimaa who understood the importance of education even
shifted her village so that her children could get the privilege of higher
education.
·
She passed on the importance of education to her future generations,
which has played a very important role in the growth and success of the
Bilakhia family.
·
Subject is founded on the same ideals of ‘growth and prosperity
through education’.
·
Subject is aims at making the Valsad district a role modle in
the field of education.
·
In order to make the benefits of its effort available to all the
states and districts of India it is making projects that are scalable,
replicable and sustainable so that other committed individuals/ corporate can
replicate them in areas of their interest/ vicinity.
The Events
Edutainment Fair 2010
This
fair was organized on the 1st and 2nd of May, 2010 in order to felicitate the
children who had achieved excellent credentials and also give them as well as
their parents a chance to showcase their talent. The aim was to felicitate both
academic as well extracurricular talent which leads to holistic development of
an individual.
The fair
also had stalls which were meant to attract the parents and students towards
various aspects of education like Math, Science and career counseling as well
as display various innovative and funfilled method of teaching for the teachers
and principals of various schools who attended the function.
Annual Felicitation Function 2011
The
function was organized on the 7th and 8th of May, 2011 in order to felicitate
the academic results of students who had achieved excellent credentials and
also give them a chance to showcase their talents thereby promoting all round
development of an individual. The function also had activities like Creativity
corner, Kids Zone and one minute games in order to attract and entrain
everyone.
Ken Annual Function
This
function was organized in order to recognize the efforts made for converting
the government schools covered under project Ken into ‘Role Model Schools’.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.90 |
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|
1 |
Rs.74.31 |
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Euro |
1 |
Rs.65.41 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.