Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
DAMODAR VALLEY
CORPORATION |
Principal Name 1 |
Mr. Amar Nath Mishra |
|
Status |
Good |
Principal Name 2 |
Mr. B P Singh |
|
|
|
Registration # |
-- |
|
Street Address |
DVC Towers, Vip Road,
Kolkata-700054, West Bengal, India |
||
|
Established Date |
07.07.1948 |
SIC Code |
-- |
|
Telephone# |
91-33-23559940 |
Business Style 1 |
Controller |
|
Fax # |
91-33-23550585 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
electrical energy |
|
|
# of employees |
Not Available |
Product Name 2 |
soil conservation |
|
Paid up capital |
Rs.
52,868,973,000/- |
Product Name 3 |
fisheries |
|
Shareholders |
-- |
Banking |
State Bank of India |
|
Public Limited Corp. |
-- |
Business Period |
65 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
A (68) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Joint
Venture Company |
India
|
Maithon Power Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
83,839,637,000 |
Current Liabilities |
48,638,738,000 |
|
Inventories |
7,283,636,000 |
Long-term Liabilities |
226,114,938,000 |
|
Fixed Assets |
281,744,475,000 |
Other Liabilities |
4,358,769,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
279,112,445,000 |
|
Invest& other Assets |
215,237,013,000 |
Retained Earnings |
256,123,343,000 |
|
|
|
Net Worth |
308,992,316,000 |
|
Total Assets |
588,104,761,000 |
Total Liab. & Equity |
588,104,761,000 |
|
Total Assets (Previous Year) |
|
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
74,359,184,000 |
Net Profit / (Loss) |
(89,131,000) |
|
Sales(Previous yr) |
56,355,948,000 |
Net Profit(Prev.yr) |
1,005,755,000 |
|
Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
DAMODAR VALLEY CORPORATION |
|
|
|
|
Registered
Office : |
DVC Towers, Vip Road,
Kolkata-700054, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.07.1948 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 52868.973 Millions |
|
|
|
|
Legal Form : |
Government Organization |
|
|
|
|
Line of Business
: |
Control of floods, provision of irrigation, generation, transmission and
distribution of electrical energy and also soil conservation, unified
tourism, fisheries, socio-economic and health development of villages |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1235960000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a multipurpose river project was set up as a statutory corporation
under a special act of parliament, Damodar Valley Corporation Act, 1948 (DVC
Act). The Government of India (GOI) the Government of West Bengal (GOWB) and
the Government of Bhiar (GOB) jointly contributed to the capital of the
subject. The ratings draw strength from the strategic importance of Damodar
Valley Corporation which is an old and established body having a fine track
record. The financials of the corporation portray huge amount of external
borrowings and deficit in the income after tax as compared to the
expenditure. However, financial position appears to be strong and healthy.
Trade relations are fair. Business is active. Payment terms are regular and
as per commitments. In view of government support, the subject can be considered good for
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
AA (Long Term Bank Facilities) |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
11.07.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1+ (Short Term bank Facilities) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
11.07.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 DECLINED BY
Management non co-operative (Tel No.:-91-3241-262287)
LOCATIONS
|
DVC Headquarters : |
DVC Towers, Vip Road,
Kolkata-700054, West Bengal, India |
|
Tel. No.: |
91-33-23559940 |
|
Fax No.: |
91-33-23550585 |
|
Website : |
|
|
|
|
|
Maithon |
P.O Maithon Dam, District Dhanbad, Jharkhand-828207,
India |
|
|
|
|
Mejia Thermal Power
Station |
Durlavpur, P.O. MTPS, District Bankura– 722183, West Bengal,
India |
|
|
|
|
|
P.O: Durgapur, District Burdwan – 713207, West Bengal,
India |
|
|
|
|
Bokaro Thermal Power
Station |
District-Bokaro, Jharkhand Pin-829107 |
|
|
|
|
Chandrapura Thermal Power
Station |
District-Bokaro Jharkhand Pin-825303 |
|
|
|
|
|
District-Burdwan, West Bengal |
|
|
|
|
Koderma Thermal Project |
District-Koderma, Jharkhand |
|
|
|
|
Raghunathpur Thermal Project |
District-Purulia, West Bengal, India |
|
|
|
|
Panchet |
P.O Panchet, District Dhanbad, Jharkhand-828206,
India |
|
|
|
|
Tilaiya |
District Hazaribagh, Jharkhand– 825413 |
|
|
|
|
Konar |
P.O Konar District. Hararibagh, Jharkhand,
India |
|
|
|
|
Bermo |
P.O. Bermo, District. Bokaro, Jharkhand, India |
|
|
|
|
Soil Conservation
Department |
District Hazaribagh, Jharkhand– 825301, India |
|
|
|
|
|
|
|
|
|
|
|
DVC BNS House, |
|
|
|
|
Tilaiya |
District Hazaribagh, Jharkhand, Pin – 825413 |
DIRECTOR
|
Name : |
Mr. Amar Nath Mishra |
|
Designation : |
Director (Opn. / Tech.) |
|
|
|
|
Name : |
Mr. B P Singh |
|
Designation : |
Director (Project) (Actg.) |
|
|
|
|
Name : |
Mr. A Mallik |
|
Designation : |
Director (System) (Actg.) |
|
|
|
|
Name : |
Mr. A Baksi |
|
Designation : |
Director (HRD) |
|
|
|
|
Name : |
Mr. T K Gupta |
|
Designation : |
Director (Accounts) |
KEY EXECUTIVES
|
CHIEF ENGINEER-ll(M/E/C/C and l/Comm) |
|
|
|
· Dr. Satya Narayan Sarkar -
CE-I (M), R and D. · Shri Dhrubesh Basu - CE-I(M), GPE, Kolkata · Shri Arun Kumar Das - CE-I(M), OS and U, Kolkata. · Shri Jitendra Kumar Singh - CE-I(M), RTPS · Shri Prabir Sen Roy - CE-I(M), DTPS · Shri Rameswar Basuri - CE-I(M), CTPS · Shri Ajit Prasad - CE-I(M), BTPS'A' · Shri Debashis Mitra - CE-I(M), MTPS · Shri Kashi Nath Singh - CE-I(M), Maithon · Shri SudhakarJha - CE-I(M), DTI, CTPS, Chandrapura · Shri Shyamal Kumar Bhattacharjee - CE-I(M), CSO, Maithon · Shri Girish Prasad Singh - CE-I(M), BTPS'B' · Shri Krishna Kumar Singh - CE-I(M), MHS, Maithon · Shri Chandreswar Choudhury - CE-I(M), Fuel, Kolkata · Shri Amitava Dasgupta - CE-I(E), Kolkata · Shri Ashok Kumar Jain - CE-I(E), Maithon · Shri Kaviraj Sahu - CE-I(E),Trans, Maithon · Shri Tapan Bandopadhyay - CE-I(E), TSC, Maithon · Shri Amitava Nayak - CE-I(E),CLD, Maithon · Shri Prasanta Kumar Das - CE-I(E),CMM, Kolkata · Shri Prabir Kumar Choudhury - CE-I(E), Commercial, Kolkata · Shri Narendra Singh Khamesra - CE-I(E), Maithon. · Md Mustaque Ahmed -
CE-I(E), CTC, Maithon · Shri Birendra Kr. Singh - CE-I(E), REP, Ranchi · Shri Siddheswar Prasad Verma - CE-I(C) Maithon · Shri Pallav Roy - CE-I(C) Additional Secretary, Kolkata · Shri Dipak Kumar Dutta - CE-I(Commercial), Kolkata · Shri Panna Lai Saha - CE-I (C and l), Kolkata. |
BUSINESS DETAILS
|
Line of Business : |
Control of floods, provision of irrigation, generation, transmission
and distribution of electrical energy and also soil conservation, unified
tourism, fisheries, socio-economic and health development of villages |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
State Bank of India ·
United Bank of India ·
Bank of India ·
Punjab National Bank ·
Canara Bank ·
Union Bank of India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Comptroller and Auditor General of India Chartered Accountant |
|
|
|
|
Joint Venture Company : |
·
Maithon Power Limited ·
Bokaro Power Supply Company (Private) Limited ·
DVC Emta Coal Mines Limited ·
Damodar Valley Tourism Development Company
Private Limited ·
National High Power Testing Laboratory Private
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
CAPITAL ACCOUNT
|
PARTICULARS |
POWER |
IRRIGATION |
FLOOD CONTROL |
TOTAL |
|
Central Government |
18136.667 |
0.000 |
70.000 |
18206.667 |
|
W B Government |
14866.895 |
1855.229 |
124.668 |
16846.792 |
|
Bihar Government |
17812.851 |
2.663 |
0.000 |
17815.514 |
|
TOTAL |
52868.973 |
|||
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
52868.973 |
50204.403 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
256123.343 |
249812.171 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
308992.316 |
300016.574 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
188958.636 |
167403.791 |
|
|
2] Unsecured Loans |
|
37156.302 |
22017.816 |
|
|
TOTAL BORROWING |
|
226114.938 |
189421.607 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
535107.254 |
489438.181 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
281744.475 |
231450.441 |
|
|
Capital work-in-progress |
|
203042.882 |
213613.227 |
|
|
Intangible Assets |
|
77.915 |
76.860 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
11742.887 |
12490.868 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
7283.636 |
7096.202 |
|
|
Sundry Debtors |
|
60775.694 |
42612.860 |
|
|
Cash & Bank Balances |
|
540.138 |
5523.815 |
|
|
Other Current Assets |
|
17516.263 |
11939.446 |
|
|
Loans & Advances |
|
5007.542 |
5127.779 |
|
Total
Current Assets |
|
91123.273 |
72300.102 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
12581.586 |
7187.958 |
|
|
Other Current Liabilities |
|
36057.152 |
30896.944 |
|
|
Provisions |
|
4358.769 |
3391.915 |
|
Total
Current Liabilities |
|
52997.507 |
41476.817 |
|
|
Net Current Assets |
|
38125.766 |
30823.285 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
326.697 |
876.762 |
|
|
Provident Fund |
|
46.632 |
106.738 |
|
|
|
|
|
|
|
|
TOTAL |
|
535107.254 |
489438.181 |
|
PROFIT & LOSS
ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
74359.184 |
56355.948 |
|
|
|
Rental and Wheeling |
|
48.820 |
50.238 |
|
|
|
Misc Direct Schemes |
|
915.712 |
467.609 |
|
|
|
Misc Shares of Dams and Subs. Activities |
|
5.650 |
10.931 |
|
|
|
Dividend Income from PTC and BPSCL |
|
28.528 |
25.528 |
|
|
|
Interest Income from STD |
|
2.029 |
13.685 |
|
|
|
Interest on State Bonds |
|
653.484 |
791.060 |
|
|
|
TOTAL (A) |
|
76013.407 |
57714.999 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operation and Maintenance |
|
49083.658 |
38942.856 |
|
|
|
Purchase of Power |
|
8273.972 |
6373.254 |
|
|
|
Transmission and Distribution Charges |
|
890.405 |
852.307 |
|
|
|
Direction and Central Services |
|
254.647 |
234.503 |
|
|
|
Share of Subsidiary activities |
|
180.575 |
300.794 |
|
|
|
General Overhead Charges |
|
1588.613 |
395.868 |
|
|
|
TOTAL (B) |
|
60271.870 |
47099.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
15741.537 |
10615.417 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
8712.374 |
5976.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
7029.163 |
4638.952 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6134.128 |
3452.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
895.035 |
1186.807 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
984.166 |
181.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(89.131) |
1005.755 |
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 |
Yes |
|
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 |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Bonds |
|
|
|
Guaranteed By Government of India
|
0.000 |
500.000 |
|
Public Sector |
6880.000 |
7240.000 |
|
Other Loan |
|
|
|
Short Term Bridge Loan |
8000.000 |
5000.000 |
|
Short Term Bank Borrowings |
22000.000 |
9000.000 |
|
Loan From GOI for RVP Scheme |
43.750 |
45.000 |
|
Exim Bank Loan |
232.552 |
232.816 |
|
|
|
|
|
TOTAL |
37156.302 |
22017.816 |
FIXED ASSETS
·
Land
·
Building
·
Roads Bridge and Railway
Siding
·
Dams and Spill Way
·
Barrage and Barrage Gates
·
Canals and Service Road
·
Machinery and Equipment
·
Switch Gear
·
Tower, Poles and Fixtures
·
Construction Equipment
·
Other Assets
·
Power House Plant and
Machinery
WEBSITE DETAILS
FORMATION
DVC, a legacy to the people of India, emerged as a culmination of attempts made
over a whole century to control the wild and erratic Damodar river. The river spans
over an area of 25,000 sq. kms covering the states of Bihar (now Jharkhand) and
West Bengal.
The Damodar Valley has been ravaged frequently by floods of varying intensities
and the first of the major recorded flood dates back to 1730. Thereafter serious
floods occurred at regular intervals, but it was the flood of 1943 that left
the worst devastation in its wake. As a result, the Governor of Bengal
appointed a Board of Inquiry headed by the Maharaja of Burdwan and the noted
physicist Dr. Meghnad Saha as member. In their report, the Board suggested
creation of an authority similar to the Tennessee Valley Authority (TVA) of
United States of America. The Government of India then appointed Mr. W.L.
Voorduin, a senior engineer of the TVA to make recommendations for
comprehensive development of the valley. Accordingly, in August, 1944, Mr.
Voorduin submitted his "Preliminary Memorandum on the Unified Development
of the Damodar River".
Mr. Voorduin’s "Preliminary Memorandum" suggested a multipurpose
development plan designed for achieving flood control, irrigation, power
generation and navigation in the Damodar Valley. Four consultants appointed by
the Government of India examined it. They also approved the main technical
features of Voorduin’s scheme and recommended early initiation of construction
beginning with Tilaiya to be followed by Maithon.
By April 1947, full agreement was practically reached between the three
Governments of Central, Bengal and Bihar on the implementation of the scheme
and in March 1948, the Damodar Valley Corporation Act (Act No. XIV of 1948) was
passed by the Central Legislature, requiring the three governments – the
Central Government and the State Governments of West Bengal and Bihar (now
Jharkhand) to participate jointly for the purpose of building the Damodar
Valley Corporation.
The Corporation came into existence on 7th July, 1948 as the first multipurpose
river valley project of independent India.
NEWS
DAMODAR
VALLEY CORPORATION 'S HYDEL UNIT LIKELY IN HAZARIBAG
HAZARIBAG: Damodar Valley Corporation (DVC) is
weighing the option of setting up of a hydel power station at Bishungarh on the
lines of Telaiya and Maithon units.
R N Sen, the chairman of DVC, visited visited the
site of Konar dam, which was built by DVC in 1958, and explored the possibility
of setting up of the power unit.
Villagers of Bishungarh had approached the chairman
with the request to set up the hydel power unit. They are even willing to give
their land to DVC.
However, Sen on Tuesday informed the group of
villagers that once funds are made available to the company, the proposal to
set up the power station on Konar dam would be taken up.
DVC has already taken up the proposal with the
World Bank, which is expected to release funds for the same.
The memorandum that the villagers handed over to
Sen demanded that the Konar dam and its surrounding areas be developed as a
tourist complex so that local people can get an opportunity for
self-employment.
The villagers had also demanded increase in SIP fund
and water from Konar dam for irrigation and household purposes.
They had also demanded registration of DVC High
School in Konar under the Jharkhand Academic Council for the benefit of the
teachers and students.
Due to non-recognition of the DVC High School, it
suffered funds problem and lacked infrastructure. The villagers' delegation was
led by the president of the Visthapit Sanghars Samittee president Dineshwar
Mandal. It may be mentioned here that prior to the visit of the present
Chairman of DVC at Konar no other Chairman visited the place during last 16
years.
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 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. 61.39 |
|
|
1 |
Rs. 94.17 |
|
Euro |
1 |
Rs. 81.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
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.