|
Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
DANS ENERGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
207, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.02.2003 |
|
|
|
|
Com. Reg. No.: |
55-119047 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.655.172 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900DL2003PTC119047 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD08580F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD0224A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in Generation of Power |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3500000 |
|
|
|
|
Status : |
Project under Implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in 2003. The company is yet to
commenced its business activity. The company project is under implementation
stage. Payment terms are not known. The company can be considered for business dealings with some
cautions. |
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 : |
207, Chiranjeev Tower , 43, Nehru Place , New Delhi – 110019, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
5th Floor, DLF Building No-8, Tower – C,
DLF Cyber City Phase-II, Gurgaon – 122022, Haryana, India |
|
Tel. No.: |
91-124 4696300 |
|
Fax No.: |
91-124 4696311 |
|
E-Mail : |
|
|
|
|
|
Site Office : |
Housing Complex, Near Five Ways School, Jortethang – 737121, South
Sikkim, India |
|
Tel. No.: |
91-3595-276408 |
|
Fax No.: |
91-3595-276408 |
DIRECTORS
As on 07.09.2011
|
Name : |
Mr. Tadikamalla Nagendra Rao |
|
Designation : |
Managing director |
|
Address : |
S-318, 1st Floor, Panchsheel Park, New Delhi – 110017,
India |
|
Date of Birth/Age : |
13.02.1955 |
|
Date of Appointment : |
20.02.2003 |
|
DIN No.: |
00729696 |
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 |
U72900DL2003PTC119047 |
DANS
ENERGY PRIVATE LIMITED |
Managing
director |
01-04-10 |
20-02-03 |
- |
Active |
NO |
|
2 |
U74300AP1994PTC017808 |
CAPITAL
FORTUNES VENTURES PRIVATE LIMITED |
Director |
17-05-05 |
17-05-05 |
22-06-09 |
Active |
NO |
|
3 |
U40102DL2006PTC153501 |
DANS
ENERGY CONSULTING PRIVATE LIMITED |
Director |
11-09-06 |
11-09-06 |
18-03-08 |
Active |
NO |
|
4 |
U51909DL2005PTC143237 |
SHIGA
ENERGY PRIVATE LIMITED |
Managing
director |
14-10-10 |
04-10-06 |
- |
Active |
NO |
|
5 |
U40102DL2007PTC159477 |
RANGIT
VALLEY HYDRO PRIVATE LIMITED |
Director |
20-02-07 |
20-02-07 |
- |
Active |
NO |
|
6 |
U40102DL2006PTC150487 |
TT
ENERGY PRIVATE LIMITED |
Nominee
director |
01-05-10 |
22-09-08 |
- |
Active |
NO |
|
7 |
U72900AP2011PTC073836 |
EIGEN
COMPUTER SERVICES PRIVATE LIMITED |
Additional
director |
25-02-12 |
25-02-12 |
- |
Active |
NO |
|
Name : |
Ms. Sonal Somani Gupta |
|
Designation : |
Nominee director |
|
Address : |
D-12, First Floor, Ashok Vihar, Phase – I, New Delhi – 110052, India |
|
Date of Birth/Age : |
13.02.1979 |
|
Date of Appointment : |
16.06.2010 |
|
DIN No.: |
01823521 |
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 |
U74140DL2005PTC142778 |
KAIZAN
ADVISORY SERVICES PRIVATE LIMITED |
Director |
21-11-05 |
21-11-05 |
- |
Active |
NO |
|
2 |
U40102DL2006PTC153501 |
DANS
ENERGY CONSULTING PRIVATE LIMITED |
Director |
18-03-08 |
18-03-08 |
- |
Active |
NO |
|
3 |
U40102DL2006PTC150487 |
TT
ENERGY PRIVATE LIMITED |
Nominee
director |
01-05-10 |
22-09-08 |
- |
Active |
NO |
|
4 |
U72900DL2003PTC119047 |
DANS
ENERGY PRIVATE LIMITED |
Nominee
director |
16-06-10 |
16-06-10 |
- |
Active |
NO |
|
5 |
U51909DL2005PTC143237 |
SHIGA
ENERGY PRIVATE LIMITED |
Director |
22-02-11 |
22-02-11 |
- |
Active |
NO |
|
6 |
U72900AP2011PTC073836 |
EIGEN
COMPUTER SERVICES PRIVATE LIMITED |
Additional
director |
25-02-12 |
25-02-12 |
- |
Active |
NO |
|
Name : |
Mr. Chilappagari Rajam Laxmi |
|
Designation : |
Nominee director |
|
Address : |
1267-A, Road No.63A, Jubilee Hills, Hyderabad, India |
|
Date of Birth/Age : |
04.03.1951 |
|
Date of Appointment : |
23.11.2009 |
|
DIN No.: |
00029156 |
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 |
U45200AP2003PLC040845 |
INTERCONTINENTAL
INFRASTRUCTURE LIMITED |
Director |
01-10-11 |
17-04-03 |
- |
Active |
NO |
|
2 |
U70100MH2004PTC147452 |
VIDARBH
HOMES PRIVATE LIMITED |
Director |
13-07-04 |
13-07-04 |
- |
Active |
NO |
|
3 |
U45200AP2006PTC049709 |
SRIVENKATA
SAI LAKSHMI BUILDERS PRIVATE LIMITED |
Director |
04-04-06 |
04-04-06 |
- |
Active |
NO |
|
4 |
U45309WB2006PLC108996 |
WEST
BENGAL SEW PRASAD INFRASTRUCTURE LIMITED |
Managing
director |
31-12-11 |
19-04-06 |
- |
Active |
NO |
|
5 |
U45201MH2006PTC165540 |
VIDARBH
INFRASTRUCTURE PRIVATE LIMITED |
Director |
14-11-06 |
14-11-06 |
- |
Active |
NO |
|
6 |
U45200AP1983PLC003796 |
SEW
INFRASTRUCTURE LIMITED |
Director |
29-03-07 |
29-03-07 |
30-01-09 |
Active |
NO |
|
7 |
U45400AP2007PTC055443 |
INTERCONTINENTAL
REALTY PRIVATE LIMITED |
Director |
07-09-07 |
07-09-07 |
05-03-10 |
Active |
NO |
|
8 |
U45200AP2007PTC056842 |
INTERCONTINENTAL
PROPERTIES PRIVATE LIMITED |
Director |
26-12-07 |
26-12-07 |
08-03-10 |
Active |
NO |
|
9 |
U45200AP2007PTC056841 |
INTERCONTINENTAL
HOMES PRIVATE LIMITED |
Director |
26-12-07 |
26-12-07 |
08-03-10 |
Active |
NO |
|
10 |
U45400MH2008PTC177391 |
DARMSTADTIUM
REALTY PRIVATE LIMITED |
Director |
05-01-08 |
05-01-08 |
- |
Strike
off |
NO |
|
11 |
U45400MH2008PTC177390 |
DARMSTADTIUM
HOMES PRIVATE LIMITED |
Director |
05-01-08 |
05-01-08 |
- |
Strike
off |
NO |
|
12 |
U41000AP2008PTC058577 |
BUSHNAK
PALLAVA WATER SERVICES (VIZAG) PRIVATE LIMITED |
Director |
08-04-08 |
08-04-08 |
- |
Active |
NO |
|
13 |
U22200AP2008PTC061579 |
INTERCONTINENTAL
PUBLICATIONS PRIVATE LIMITED |
Director |
27-10-08 |
27-10-08 |
- |
Active |
NO |
|
14 |
U40102DL2006PTC150487 |
TT
ENERGY PRIVATE LIMITED |
Nominee
director |
27-11-08 |
27-11-08 |
- |
Active |
NO |
|
15 |
U45201AP1997PLC028680 |
GVPR
ENGINEERS LIMITED |
Director |
30-09-09 |
18-02-09 |
12-11-11 |
Active |
NO |
|
16 |
U66010AP2003PLC041084 |
NEW
ERA INSURANCE BROKING SERVICES LIMITED |
Director |
29-09-09 |
03-03-09 |
30-04-11 |
Active |
NO |
|
17 |
U72900DL2003PTC119047 |
DANS
ENERGY PRIVATE LIMITED |
Nominee
director |
23-11-09 |
23-11-09 |
- |
Active |
NO |
|
18 |
U92130AP2010PTC068487 |
INTERCONTINENTAL
MEDIA NETWORK PRIVATE LIMITED |
Director |
19-05-10 |
19-05-10 |
- |
Active |
NO |
|
19 |
U22219AP2010PTC070457 |
TELANGANA
PUBLICATIONS PRIVATE LIMITED |
Managing
director |
06-10-11 |
16-09-10 |
- |
Active |
NO |
|
20 |
U23203AP2010PLC070842 |
SEW
CARBONS LIMITED |
Director |
28-09-11 |
18-10-10 |
01-11-11 |
Active |
NO |
|
21 |
U13203AP2011PLC075319 |
SEW
MINERALS LIMITED |
Director |
01-07-11 |
01-07-11 |
01-11-11 |
Active |
NO |
|
Name : |
Mr. Tadikmalla Ananth Vybhav |
|
Designation : |
Nominee director |
|
Address : |
S-318, 1st Floor, Panchsheel Park, New Delhi – 110017,
India |
|
Date of Birth/Age : |
23.04.1983 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02201272 |
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 |
U72900DL2003PTC119047 |
DANS
ENERGY PRIVATE LIMITED |
Nominee
director |
01-04-08 |
01-04-08 |
- |
Active |
NO |
|
2 |
U51909DL2005PTC143237 |
SHIGA
ENERGY PRIVATE LIMITED |
Nominee
director |
22-02-11 |
06-10-08 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Bimal Agarwal |
|
Designation : |
Secretary |
|
Address : |
Flat No.515, Owners Apartment Residential, Welfare Society of
Government Employees, Sector-31-32A, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
29.01.1978 |
|
Date of Appointment : |
28.01.2010 |
|
PAN No.: |
AEFPA7558E |
|
|
|
|
Name : |
Mr. Nicolae Cornel Russu |
|
Designation : |
Project Manager |
|
Date of Birth/Age : |
63 years |
|
Qualification : |
Civil Engineer |
|
Date of Appointment : |
17-01-2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 07.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Tadikamalla Nagendra Rao |
|
141411 |
|
Tadikamalla Shobha Rao |
|
354000 |
|
Energy Innovations Limited, UAE |
|
30416116 |
|
Dans Energy Consulting Private Limited, India |
|
13504272 |
|
SEW Infrastructure Limited, India |
|
17495212 |
|
Intercontinental Infrastructure Limited, India |
|
3772002 |
|
Rangit Valley Hydro Power Private Limited, India |
|
880000 |
|
Total |
|
66563013 |
As on 14.03.2012
List of Allottes
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
SEW Infrastructure Limited, India |
|
1570663 |
|
Dans Energy Consulting Private Limited, India |
|
4470346 |
|
Total |
|
6041009 |
As on 07.09.2011
Equity Share Break up (Percentage of Total Equity)
|
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 |
45.70 |
|
Bodies corporate |
53.56 |
|
Directors or relatives of Directors |
0.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in Generation of Power |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Punjab National Bank, 7, Bhikaji Cama Place, New Delhi - 110066, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B Luthra Associates Chartered Accountants |
|
Address : |
207, Chiranjeev Tower, Nehru Place, New Delhi – 110019, India |
|
PAN.: |
AABPL3817B |
|
|
|
|
Related Parties (Investing Parties) : |
·
SEW Infrastructure Limited ·
DANS Energy Consulting Private Limited |
CAPITAL STRUCTURE
After 07.09.2011
Authorised Capital : Rs.860.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.786.482 Millions
As on 07.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
86000000 |
Equity Shares |
Rs.10/- each |
Rs.860.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66563013 |
Equity Shares |
Rs.10/- each |
Rs.665.630
Millions |
|
|
|
|
|
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 |
655.172 |
625.000 |
220.379 |
|
|
2] Share Application Money |
16.027 |
0.025 |
121.566 |
|
|
3] Reserves & Surplus |
212.815 |
137.475 |
0.347 |
|
|
4] (Accumulated Losses) |
(2.151) |
(4.418) |
0.000 |
|
|
NETWORTH |
881.863 |
758.082 |
342.292 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2605.987 |
646.604 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2605.987 |
646.604 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3487.850 |
1404.686 |
342.292 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
91.437 |
84.204 |
55.508 |
|
|
Capital work-in-progress |
3138.558 |
1169.722 |
280.399 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
242.942
|
402.601 |
6.937 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
64.736
|
6.288 |
1.699 |
|
Total
Current Assets |
307.678
|
408.889 |
8.636 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.106
|
235.157 |
2.074 |
|
|
Other Current Liabilities |
32.521
|
22.986 |
1.852 |
|
|
Provisions |
0.210
|
0.000 |
0.021 |
|
Total
Current Liabilities |
49.837
|
258.143 |
3.947 |
|
|
Net Current Assets |
257.841
|
150.746 |
4.689 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.014 |
0.014 |
1.696 |
|
|
|
|
|
|
|
|
TOTAL |
3487.850 |
1404.686 |
342.292 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Filling Fees |
|
0.011 |
0.000 |
|
|
|
Audit fees |
|
0.011 |
0.000 |
|
|
|
Loss on sale of Fixed Assets |
|
0.064 |
0.000 |
|
|
|
Expenses for increase in Authorized Share Capital |
|
4.543 |
0.000 |
|
|
|
TOTAL |
|
4.629 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(4.629) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.136 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(4.765) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.347 |
0.347 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(4.418) |
0.347 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(0.94) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.01
|
1.19 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.17
|
1.58 |
2.19 |
LOCAL AGENCY FURTHER INFORMATION
Review of Operations and
Financial Performance:
The Company is setting up a 96MW Jorethang loop Hydroelectric Project in
the south/ west district of Sikkim. The construction of the project is in full
swing.
Contingent
Liabilities (As on 31.03.2011):
i) Claims against
the Company not acknowledged as debt – *Rs.0.246 (Prev. Year – Rs.0.246)
ii) Outstanding
amount of Bank Guarantee is Rs.63.000 Millions (previous year NIL), and margin
money paid Rs.6.300 Millions (Previous year NIL) against the same.
iii) Outstanding
amount of Letter of Credit (Part of term loan) Rs. 865.315 Millions (previous
year NIL).
Note: *The Company has filed an appeal before the
Commissioner of Income Tax for A.Y: 2007-08 against the order of the Income Tax
Officer passed under Section 143(3) of the I.T. Act, 1961.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U72900DL2003PTC119047 |
|
Name of the company |
DANS ENERGY PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
207, Chiranjeev Tower , 43, Nehru Place , New Delhi – 110019, India E-mail : rolimishra@dansenergy.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10216554 |
|
Type of charge |
·
Uncalled share capital ·
Immovable property ·
Any interest in immovable property ·
Book debts ·
Movable property (not being pledge) ·
Others (Project documents and Consent and
Approval) |
|
Particular of charge holder |
Punjab National Bank, 7, Bhikaji Cama Place, New Delhi – 110066, India E-mail : bo4615@pnb.co.in |
|
Nature of instrument creating charge |
First pari passu charge by way of mortgage of all company's Immovable
properties (excluding forest land) both Present and future as conveyed by the
Indenture of Mortgage for further charge executed on 10.01.2012 for Project
Guarantees/ Letter of Credit facilities in favour of Customs and Equipment
Supplier upto a maximum extent of 5% of the project cost. |
|
Date of instrument Creating the charge |
10.01.2012 |
|
Amount secured by the charge |
Rs.120.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As per Deed of hypothecation filed in earlier to which this is a
modification thereof Terms of Repayment As per Deed of hypothecation filed in earlier to which this is a
modification thereof Margin Margin 10% in respect of Bank Guarantee issued for the project Extent and Operation of the charge First pari passu charge by way of mortgage of all company's immovable properties.
First pars passu charge by way hypothecation and on all moveable properties, including
moveable plant and machineries, tools and accessories furniture fixtures and
all other moveable properties present and future relating to project First Charge on all Letter of Credit, TRA, DSRAs, Reserves and other
account of the Company for project. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First pari passu charge by way Mortgage of all the company's immovable
properties (excluding forest land) present and future First pari passu charge on all company Moveable’s including Moveable
plant and Machineries, Spares, furniture and fixture vehicles as per
indenture of mortgage for further Charge dated 10.01.2012 First pari passu charge on all letter of credit, trust retention
account, DSRA, and other reserve and any other bank account, wherever
maintained for the project purpose as per indenture of mortgage First Pari passu charge on all intangible assets including but not
limited to goodwill trademark patent uncalled capital etc as per indenture of
mortgage for further Charge dated 10.01.2012 First pari passu charge on all right title interest, benefits, claims
and demands whatsoever of the company in project documents, letter of credit,
guarantee, performance bond, clearances |
|
Date of instrument modifying the charge |
07.02.2011 |
|
Particulars of the present modification |
As per Indenture of Mortgage for further Charge dated 10th Jan-2012
securing Bank Guarantee upto 5% of the project Cost. |
Fixed Assets:
·
Lands
·
Roads
·
Furniture and Fixtures
·
Office Equipments
·
Computers and Peripherals
Website Details:
Project Details:
Subject, an independent power producer signed
an MOU with the Sikkim Government on 5th Dec 05 for the implementation of the
96 MW Jorethang Loop Hydro-Electric Project (JLHEP) on a Build, Own, Operate
and Transfer (BOOT) basis. The operational period extends for 35 years from
commercial operation date of the project. Subject is promoted by the DANS Group
and is a special purpose vehicle for the implementation of JLHEP. Seeing the vast potential present in the
hydro power generation sector, the group ventured into private power generation
on BOOT basis in 2005.
Jorethang Loop HEP received registration under
Kyoto Protocol’s ‘Clean Development Mechanism’ of the United Nations Framework
Convention on Climate Change on 28th Feb 2008 (http://cdm.unfccc.int/Projects/DB/DNV-CUK1188881385.79/view).
In doing so, JLHEP received registration for 465,961 carbon credits, the second
largest hydro power project in India and the fourth largest hydro power project
in the world registered under the CDM.
The Jorethang Loop Hydroelectric Power
Project, a Run-of-River hydro-electric project is the terminal project in the
cascade development of five projects (the upstream four projects conceived by
CWC are the Rangit Stages I to IV) planned on the Rangit River in Sikkim, which
is a tributary of the Teesta River (the main river of the State of Sikkim). It
is located in South / West District of Sikkim about 5 km upstream of Jorethang
town. The closest airport is at Bagdogra which is 96 km from Jorethang and the
nearest railhead is at Jalpaiguri, at a distance of 94km from Jorethang. The
project sites are well connected by all weather SPWD road from Melli and Melli
is connected by NH - 31 A with Siliguri/ New Jalpaiguri/ Bagdogra.
The Project envisages a Barrage with Silt
Excluder arrangement on the main Rangit river near the village Pipley, a Power
Intake on the left bank to divert the flows into a 6.8 km long Head Race Tunnel
along the chord of the Jorethang Loop to create a gross head of about 86 m,
Surge Shaft of 25 m diameter, Pressure Shaft, a surface Powerhouse at the
confluence of the Rangit river with Bhari Khola with installation of 96 MW (two
units of 48 MW capacity each), about 30 m length of Tailrace, an outdoor 220 KV
Switchyard just above the Powerhouse, and 220 KV Single Circuit Transmission
line of 14 km length to evacuate the power to the grid station at Melli. The
Net head of the scheme is 74 m and the design discharge is 140 cumec. However,
during the monsoon months when the discharge is substantially higher than the
design discharge, the turbines will be run under 15% overload capacity drawing
a discharge of 165 cumecs. Based on
these parameters the plant will have an installed capacity of 96 MW and a total
average annual energy generation (50 % dependable Year) of around 535 GWh
(Million Units).
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.50.59 |
|
|
1 |
Rs.80.34 |
|
Euro |
1 |
Rs.67.14 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.