|
Report Date : |
25.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CLP POWER INDIA PRIVATE LIMITED |
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Registered
Office : |
6th Floor, Chanakya, Off |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.09.1995 |
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Com. Reg. No.: |
04-042939 |
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Capital
Investment/ Paid-up Capital: |
Rs. 1394.231
Millions |
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CIN No.: [Company Identification
No.] |
U40100GJ1995PTC042939 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC01485B |
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PAN No.: [Permanent Account No.] |
AAACP6900B |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Operation and Maintenance of Power Projects. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 970000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. Profitability of the company
is under pressure. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow. The company 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.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Ajay |
|
Designation : |
Account Assistant |
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Contact No.: |
91-22-67588888 |
|
Date : |
24.07.2012 |
LOCATIONS
|
Registered Office : |
6th Floor, Chanakya, Off Ashram Road, Ahmedabad-380009,
Gujarat, India |
|
Tel. No.: |
91-79-26585969 |
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Fax No.: |
91-79-26583254 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
15th Floor, Oberoi Commerz International Business Park,
Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-67588800 |
|
Fax No.: |
91-22-67588811 / 8833 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rajiv Ranjan Mishra |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 301, EVITA, Hiranandani Gardens, Powai, Mumbai - 400076,
Maharashtra, India |
|
Date of Birth/Age : |
01.01.1966 |
|
Date of Appointment : |
22.03.2005 |
|
DIN No.: |
00131207 |
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|
Name : |
Mr. Naveen Munjal |
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Designation : |
Director |
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Address : |
1313-15, B-Wing, Samartha Aangan, Phase-III, Off New Link Road,
Oshiwara, Andheri (West), Mumbai - 400053, Maharashtra, India |
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Date of Birth/Age : |
05.12.1965 |
|
Date of Appointment : |
18.09.2003 |
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DIN No.: |
00230313 |
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|
Name : |
Mr. Samir Ashta |
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Designation : |
Additional Director |
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Address : |
85, Siddhartha Enclave, Jangpura, New Delhi-110014, India |
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Date of Birth/Age : |
26.06.1964 |
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Date of Appointment : |
07.12.2007 |
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DIN No.: |
01957618 |
KEY EXECUTIVES
|
Name : |
Mr. Jayant Manohar Patil |
|
Designation : |
Secretary |
|
Address : |
B-15, GPEC Township, Village Paguthan, Bharuch Palej Road, Paguthan, Bharuch-392015,
Gujarat, India |
|
Date of Birth/Age : |
30.01.1971 |
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Date of Appointment : |
08.04.2008 |
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|
|
|
Name : |
Mr. Ajay |
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Designation : |
Account Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
CLP Power (GPEC) Limited, Mauritius |
|
139423038 |
|
CLP Power International Projects Limited, British Virgin Islands |
|
20 |
|
Total |
|
139423058 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Operation and Maintenance of Power Projects. |
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Terms : |
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Selling : |
Depends |
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Purchasing : |
Depends |
GENERAL INFORMATION
|
Customers : |
Corporate |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
HSBC Bank ·
HDFC Bank, Mumbai, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V Nijhwan Price Waterhouse Chartered Accountants |
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Address : |
Building 8, 7th and 8th Floor, Tower-B, Cyber
City, Gurgaon-122002, Haryana, India |
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PAN No.: |
AACPN5592L |
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Ultimate Holding Company: |
CLP Holdings Limited, Hong Kong |
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Fellow Subsidiaries: |
·
CLP Power (GPEC) Limited, Mauritius (w.e.f.
31.03.2011) ·
CLP Wind Farms (Khandke) Private Limited ·
CLP Wind Farms (India) Private Limited ·
CLP Wind Farms (Theni-Project II) Private Limited ·
CLP Wind Farms (Theni- Project III) Private
Limited ·
CLP Wind Farms (Theni- IV) Private Limited ·
CLP Power Projects, II Mauritius |
|
|
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|
Holding Company : |
Gujarat Paguthan Energy Corporation Private Limited U40100GJ1992PTC018284 |
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Subsidiaries : |
Jhajjar Power Limited CIN NO. - U40104HR2008SGC037809 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000000 |
Equity Shares |
Rs. 10/- each |
Rs. 12000.000 Millions |
|
700000000 |
Redeemable Preference Shares |
Rs. 10/- each |
Rs. 7000.000 Millions |
|
|
Total |
|
Rs. 19000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
139423058 |
Equity Shares |
Rs. 10/-
each |
Rs. 1394.231
Millions |
|
|
|
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Notes:
Of the above 139423038 (Previous year
139423038) Equity share are held by Gujarat Paguthan Energy Corporation Private
Limited, the Holding Company (Previous year 139423038 Equity shares held by CLP
Power (GPEC) Limited, the holding company Limited) and 20 (Previous year 20)
Equity Shares are held by Mr. Rajiv Mishra, Nominee of Gujarat Paguthan Energy
Corporation Private Limited, which is subsidiary of CLP Holdings Limited, Hong
Kong, the Ultimate Holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1394.231 |
1394.231 |
1200.887 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1152.841) |
(1051.147) |
(928.795) |
|
|
NETWORTH |
241.390 |
343.084 |
272.092 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
241.390 |
343.084 |
272.092 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
44.704 |
53.361 |
27.435 |
|
|
Capital work-in-progress |
1.667 |
0.000 |
0.138 |
|
|
|
|
|
|
|
|
INVESTMENT |
200.000 |
200.000 |
91.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
10.507 |
10.123 |
|
|
Cash & Bank Balances |
17.588
|
51.009 |
132.347 |
|
|
Other Current Assets |
0.000
|
0.017 |
0.063 |
|
|
Loans & Advances |
79.946
|
69.123 |
34.990 |
|
Total
Current Assets |
97.534
|
130.656 |
177.523 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
82.353
|
28.186 |
16.765 |
|
|
Other Current Liabilities |
8.592
|
5.479 |
3.564 |
|
|
Provisions |
11.570
|
7.268 |
3.675 |
|
Total
Current Liabilities |
102.515
|
40.933 |
24.004 |
|
|
Net Current Assets |
(4.981)
|
89.723 |
153.519 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
241.390 |
343.084 |
272.092 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operations and Maintenance Fees |
136.377 |
122.959 |
118.980 |
|
|
|
Other Income |
0.070 |
1.667 |
12.795 |
|
|
|
TOTAL |
136.447 |
124.626 |
131.775 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personnel Expenses |
144.705 |
124.913 |
73.205 |
|
|
|
Administrative and other Expenses |
81.336 |
112.375 |
68.376 |
|
|
|
TOTAL |
226.041 |
237.288 |
141.581 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(89.594) |
(112.662) |
(9.806) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.100 |
9.690 |
7.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(101.694) |
(122.352) |
(16.818) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(1.827) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(101.694) |
(122.352) |
(14.991) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1051.147) |
(928.795) |
(913.804) |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS)
CARRIED TO THE B/S |
(1152.841) |
(1051.147) |
(928.795) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(0.73) |
(0.98) |
(0.12) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(74.53)
|
(98.18) |
(11.38) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(74.57)
|
(99.51) |
(14.14) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(71.50)
|
(66.49) |
(8.21) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.42)
|
(0.36) |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.42
|
0.12 |
7.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
3.19 |
7.40 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS
OF SUNDRY CREDITORS
Rs.
In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Total outstanding dues of creditors other than micro and small
enterprises |
82.353
|
28.186 |
16.765 |
|
Total |
82.353
|
28.186 |
46.765 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
(Yes) |
|
2] |
Locality of the firm |
(Yes) |
|
3] |
Constitutions of the firm |
(Yes) |
|
4] |
Premises details |
(No) |
|
5] |
Type of Business |
(Yes) |
|
6] |
Line of Business |
(Yes) |
|
7] |
Promoter's background |
(Yes) |
|
8] |
No. of employees |
(Yes) |
|
9] |
Name of person contacted |
(Yes) |
|
10] |
Designation of contact person |
(Yes) |
|
11] |
Turnover of firm for last three years |
(Yes) |
|
12] |
Profitability for last three years |
(Yes) |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
(No) |
|
15] |
Capital in the business |
(Yes) |
|
16] |
Details of sister concerns |
(Yes) |
|
17] |
Major suppliers |
(No) |
|
18] |
Major customers |
(No) |
|
19] |
Payments terms |
(Yes) |
|
20] |
Export / Import details (if applicable) |
(No) |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
(Yes) |
|
24] |
Banking facility details |
(No) |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
(Yes) |
|
28] |
Incorporation details, if applicable |
(Yes) |
|
29] |
Last accounts filed at ROC |
(Yes) |
|
30] |
Major Shareholders, if available |
(Yes) |
|
31] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
OPERATIONS:
The total revenue during the year ended on March
31, 2011 was Rs. 136.447 Millions. The profits earned during the year stand at
Rs. (101.694 Millions) (after provision of tax)
CONTINGENT LIABILITIES (As on 31.03.2011)
a) Bank guarantee aggregating Rs. 495.750 Millions (Previous year Rs.
495.750 Millions) issued by the bank on behalf of the company in favour of
Uttar Haryana Bijli Vitran Nigam Limited and Rs. 495.750 Millions) issued by
the bank on behalf of the company in favour of Dakshin Haryana Bijli Vitran
Nigam Limited for setting up the power station of capacity of 1320 MW at
Matenhall, District Jhajjar, Haryana for supply of power there from on the long
term basis.
b) Disputed income tax demands Rs. 28.661 Millions (Previous year Rs. 23.142
Millions) against which the company has preferred appeals.
FIXED ASSETS:
·
Leasehold Improvements
·
Tools and Equipments
·
Office Equipments
·
Computers
·
Vehicles
As per Website
Press Release
CLP Encourages ‘Low‐carbon Leaders’ with its
Young Power Programme 2011
Ahmedabad, May 23, 2011: CLP launched its Young Power Programme 2011 (YPP) in a power‐ packed and educational ceremony at the Gujarat Science City today, once again demonstrating its ability to successfully engage with students to embrace sustainability. The programme is CLP's on‐ going commitment to groom the next generation to build a greener and more energy efficient world. Launched in 1999 in Hong Kong and later expanded to India and the Chinese Mainland, YPP is one of CLP's signature youth leadership programmes to promote environmental awareness and social responsibility among the younger generation. This year will be the third consecutive year for this programme to take place in India.
The theme for this year is “KISS the world”, where “KISS” stands for Keep It Sustainable and Strong. The programme presents a unique opportunity for students, encouraging them to come up with sustainable solutions to keep the world strong by leading the community to a low‐carbon life. At the ceremony today, 8 shortlisted teams, which were chosen from 20 participating teams from 8 schools in Gujarat based on their proposals, were invited to attend the activity‐based learning programme under the guidance of CLP mentors.
The selected teams in India, Hong Kong and Chinese Mainland, will enter a four‐week activity‐based learning programme with an array of activities such as workshops, visitations and job shadowing. The activities are designed such that the students are prepared to become future leaders of India. With a focus on team work, leadership skills and social and environmental responsibilities, the key of YPP is to also pave the way for the students’ future success. During the four weeks of the activity‐ based learning programme on the power industry, environmental issues and social responsibility, the students will develop novel sustainable ideas to combat climate change at societal, organisational and governmental level. Towards the end of the four weeks, the shortlisted teams will have to translate their learning into real work by designing creative projects and showcasing them for the ‘Young Power Award’ competition. The champions from the three locations will then participate in a 10‐day cultural exchange programme in Hong Kong and the Chinese Mainland. The exchange programme has now gone beyond traditional classroom learning and also includes visits to CLP's renewable energy facilities, engagements in voluntary service, participation in business simulation games etc.
Mr Rajiv Mishra, Managing Director, CLP India, said, “The ‘Low‐carbon Leaders’ realize their full potential through the YPP programme and provide valuable contribution to their local communities. The students lead by example in developing sustainable solutions to combat climate change and, have already begun creating a wave and making a positive impact in their communities and beyond.”
“It is heartening to see this young talent ready to get empowered and engage with larger communities. The commitment and enthusiasm they are blessed with is indeed very encouraging, not only for us but also for the future generations. This is where the change begins – the youth of today will take the efforts towards the issue of climate change several notches higher. We, at CLP, Since it’s launch in 1999, over 1,200 students from 138 schools have participated in this programme and over 90,000 fellow schoolmates were reached through in‐school project presentations and web‐ based activities. In 2009, YPP reached out across the Asia Pacific region to Gujarat in India and Guangxi in the Chinese Mainland to nurture more local youth leaders and enable them to influence the society, the economy and the environment they live in.
About CLP Young Power
Programme (YPP)
CLP has been organising the YPP every summer since 1999. In 2009, the programme was extended from its Hong Kong base to India and the Chinese Mainland to nurture local young leaders. The leadership development programme provides a unique exposure for high school students to gain hands‐on experience in the power industry and to understand the importance of sustainable development.
About CLP India
CLP India is a wholly owned subsidiary of the CLP Group, a Hong Kong‐listed company and one of the largest investor‐owned power businesses in Asia. CLP India is one of the largest foreign investors in the Indian power sector and is responsible for developing CLP's presence in the Indian market. It has a diversified and climate friendly generation portfolio that covers renewable energy, supercritical coal fired, and gas fired generation, amounting to approximately 2,614 MW.
CLP India owns and operates a 655MW gas‐fired IPP in Gujarat. It is the largest wind power developer in the country with approximately 640MW of committed wind projects at different stages of implementation. The total committed investment by CLP India is in excess of INR97 billion including the 1320MW coal‐fired Jhajjar Power Plant in Haryana.
In line with the CLP Group's commitment to develop 30% of generating capacity from non‐ carbon emitting energy sources such as renewable energy and nuclear power by 2020, CLP is investing in renewable energy projects in Asia Pacific, focusing on wind, small hydro and biomass, with an emphasis on India, China and Australia.
CLP India expands its wind portfolio by 152.8MW with two new wind farms
· CLP reinforces its leadership position as the largest wind energy developer in India with a total wind power portfolio of 638.8MW
· Significant step towards fulfilling CLP India’s commitment to growing its Renewables portfolio
· Endorses and boosts the CLP Group’s commitment to developing 30% of its generation capacity from non-emitting sources by 2020, of which 20% is from renewable energy sources
CLP India, one of the largest foreign private power players in India, today announced that it will develop two new wind farms – one in Rajasthan and the other in Andhra Pradesh. The 102.4MW Sipla Wind Farm will be located at Jaisalmer District in the state of Rajasthan, and the 50.4MW Narmada Wind Farm will be located at Nallakonda, Anantapura District in Andhra Pradesh. CLP India has entered into agreements with major wind turbine manufacturer, Enercon India Limited to develop these greenfield projects.
The Sipla and Narmada Wind Farms will use 128 and 63 Enercon Gearless E53 800kW wind turbines respectively. Both projects will be developed and constructed under a comprehensive EPC arrangement and will be commercially operational by March 2012.
With these two projects, CLP’s wind portfolio has grown to 638.8MW – reinforcing its position as the largest wind energy developer in India. These projects have also grown CLP’s geographical presence in India to two new states – Rajasthan and Andhra Pradesh – in addition to Gujarat, Maharashtra, Tamil Nadu and Karnataka.
CLP is committed to growing its Renewables portfolio in India and adding a substantial 152.8MW to its existing wind portfolio of 486MW is a significant stride in this direction.
Commenting on this occasion, Mr Rajiv Mishra, Managing Director, CLP India, said, “CLP is proud to be a contributor to the Indian power sector, with one of the most well balanced portfolios of conventional and renewables sources. Amongst the renewables sources, wind will continue to dominate, as it has over the past few years, with around 70 per cent of the country’s total grid connected renewable power capacity from wind projects. We are committed to growing our presence in the renewables space, especially with wind power projects. The Sipla and Narmada projects reinforce this commitment”.
“We are pleased with the Government’s growing attention to the renewable energy industry. 2010 was a defining year in this direction with the finalization of Generation Based Incentive mechanism and implementation of Renewable Energy Certificates scheme across various states in India. These pragmatic measures reinforce CLP’s commitment to strengthen its Indian presence and contribute meaningfully to adding more green power to the Indian grid,” said Mr Mahesh Makhija, Director – Business Development (Renewables), CLP India.
“The Sipla and Narmada deals have set a milestone in our relationship with Enercon by taking it to 500MW, which in itself is a benchmark in the Indian market”, Mr Makhija added.
“We are delighted that CLP India has selected Enercon as their wind energy solution provider for the Sipla and Narmada Wind Farm Projects. We have worked on five projects for CLP India and this new partnership further strengthens our successful, long standing relationship,” said Mr Yogesh Mehra, Managing Director - Enercon India Limited.
In addition to its renewable energy portfolio, CLP India owns and operates a modern 655MW combined cycle gas power plant in Village Paguthan near Bharuch in Gujarat and is also building a 1,320MW supercritical coal-fired power project at Jhajjar in the northern state of Haryana – a project CLP India won through international competitive bidding in July 2008.
CLP's Manifesto on Climate Change has set an ambitious target of reducing the carbon intensity by 75% by 2050 across the Group's power generation portfolio in the region. To achieve this, renewable energy will play a key role in meeting the intermediate goal of having 30% of its generation capacity from non-emitting sources by 2020, which include nuclear, wind, hydro, biomass and other renewable sources.
CMT REPORT (Corruption, Money Laundering & T9errorism]
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.56.02 |
|
|
1 |
Rs.86.89 |
|
Euro |
1 |
Rs.67.84 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.