MIRA INFORM REPORT
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Report Date : |
12.01.2012 |
IDENTIFICATION DETAILS
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Name : |
BHIRA INVESTMENTS LTD. |
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Formerly Known As : |
TATA POWER
(MAURITIUS) LIMITED |
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Registered Office : |
C/O International
Financial Services Ltd Ifrs Court, 28, Cybercity, Ebene |
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Country : |
Mauritius |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
27.04.2007 |
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Com. Reg. No.: |
C070733 |
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Legal Form : |
Global Business Category 1 |
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Line of Business : |
Consultancy Firm |
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No. of Employees
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10 |
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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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Mauritius |
a2 |
a2 |
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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 |
SUBJECT'S NAME
Registered Name: BHIRA INVESTMENTS LTD.
Requested Name: BHIRA
INVESTMENTS LTD.
Former Names: TATA
POWER (MAURITIUS) LIMITED
ADDRESS AND TELECOMMUNICATION
Physical Address: C/O
INTERNATIONAL FINANCIAL SERVICES LTD IFRS Court, 28
Cybercity,
Ebene
Postal Address: IFRS
Court, 28 Cybercity,
Ebene
Country: Mauritius
Phone: 230-4673000
Fax: 230-4674000/4545390
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2011 shows subject firm with a medium
risk of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: GLOBAL BUSINESS CATEGORY 1
Date Incorporated: 27-April-2007
Reg. Number: C070733
Nominal Capital MUR. 1,000,000
Subscribed Capital MUR. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Dev Joory MD
Couldip Basant
Lala Director
Rubina Toorawa Director
Prasad Raghava
Menon Director
Sanjay Dube Director
Anil Sardana Director
Ramakrishnan
Sowmyan Director
Tata Power Co. Ltd. Holding Company 100%
RELATED COMPANIES
Tata Power Co. Ltd. Parent company.
None Subsidiary company.
Listed Below Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as a consultancy firm
Imports: None
Exports: None
Trademarks: None
Terms of sale: Undisclosed
Main
Customers: firms and
organizations
Employees: 10
employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Mauritius
Location: Undisclosed
AUDITORS AND INSURANCE
Auditors: Kemp
Chatteris Deloitte
Insurance
Brokers: Information not available.
Secretary: International Financial Services Limited
FINANCE
Currency Reported: Mauritius Rupee (MUR.)
Approx. Ex. Rate: 1 US Dollar = 29.28 Mauritius Rupee
Fiscal
Year End: December 31, 2011
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2011 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in USD.)
2010 2011
Sales 50,262,411 11,027,765
BANK
Bank Name: HSBC BANK (Mauritius) Limited
Branch: 6th Floor, NSBC centre, 18 Cybercity Ebene, Mauritius
Comments:
Other Bank BARCLAYS
BANK PLC
TRADE
REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject.
A Global Business Category
1 (GBL 1) is a company engaged in qualified
global business and which is carried on from within Mauritius with persons all
of whom are resident outside Mauritius and where business is conducted in a
currency other than the Mauritian rupee.
It is the recommended structure
for individuals, body corporate, trust or partnership including limited
liability partnership or a société for investment and other high profile
business. A GBL1 may be locally incorporated or may be registered as a branch
of a foreign company. Public companies, those engaged in banking, insurance and
fund management, and companies wishing to benefit from the provisions of Double
Taxation Agreements (DTAs), can only be incorporated as GBL1 companies.
Confidentiality is strictly
observed in terms of the FSD Act. No person or body is authorized to disclose
information or present documentation to any court, tribunal, committee of
inquiry or other authority in Mauritius unless ordered to do so by a Court of
Law on application by the Director of Public Prosecution for inquiry into the
trafficking of narcotics and dangerous drugs, arms trafficking or money
laundering as defined under existing legislation. Upon application to the FSC,
full disclosure is required on the beneficial owners of the company. However,
such information is not available for public inspection.
AFFILIATED
COMPANIES
· Tatanet Services Ltd.
· Maithon Power Ltd.
·
Industrial Energy Ltd.
·
Industrial Power
Utility Ltd.
·
Industrial Power
Infrastructure Ltd.
·
Coastal Gujarat Power
Ltd.
·
Veltina Holdings Ltd.
·
Bhivpuri Investments
Ltd.
·
Khopoli Investments
Ltd.
·
Energy Eastern Pte
Ltd.
·
Trust Energy Resources
Pte Ltd.
·
North Delhi Power Ltd.
·
Vantech Investments
Ltd.
·
Pt Itamaraya Tbk.
·
Tata Power Green
Energy Ltd.
· Chemical Terminal Trombay Ltd.
· Af-Taab Investment Co. Ltd.
· Powerlinks Transmission Ltd.
· Tata Power Trading Co. Ltd.
· Nelco Ltd.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.75 |
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UK Pound |
1 |
Rs.80.01 |
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Euro |
1 |
Rs.65.99 |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.