MIRA
INFORM REPORT
|
Report Date : |
10.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOURISM CORPORATION OF GUJARAT LIMITED |
|
|
|
|
Registered
Office : |
Block No.-17, 4th Floor, Udyog Bhavan, Sector-11, Gandhinagar –
382011, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.06.1975 |
|
|
|
|
Com. Reg. No.: |
04-002722 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.199.991 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63040GJ1975SGC002722 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT7252J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Tourism Development Service Industries. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 11980000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a Government of Gujarat undertaking corporation established
for promotion and development of tourism sector. It is a well established company having a fine track record. The company has shown a consistent improvement in the operating
performance marked by an increase in the operating income as well as
profitability during 2012. Financial and liquidity position of the company
appears to be strong and healthy. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of strong support from the government, 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.
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.
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
LOCATIONS
|
Registered Office/ Head Office : |
Block No.-17, 4th Floor, Udyog Bhavan, Sector-11, Gandhinagar –
382011, Gujarat, India |
|
Tel. No.: |
91-79-23220002/ 23222523 |
|
Fax No.: |
91-79-23238908 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at: · Ahmedabad · Chennai · Mumbai · New Delhi · Jaipur · Kolkatta · Vadodara · Surat · Rajkot · Bhuj · Porbandar · Gandhinagar ·
Nadiyad |
DIRECTORS
AS ON 31.12.2011
|
Name : |
Mr. Kamleshkumar Govindlal Patel |
|
Designation : |
Nominee Director |
|
Address : |
6, Prankunj Society, Kankaria Road, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
29.10.1954 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
27.04.2006 |
|
DIN No.: |
02737232 |
|
|
|
|
Name : |
Mr. Subhash Ishvarbhai Patel |
|
Designation : |
Nominee Director |
|
Address : |
Ashray, Plot No.86, Sector- 19, Gandhinagar, Gujarat, India |
|
Date of Appointment : |
15.12.2006 |
|
DIN No.: |
01675629 |
|
|
|
|
Name : |
Mr. Mayankkumar Jashubhai Patel |
|
Designation : |
Director |
|
Address : |
C/3, Jalalram Plaza, Jawahar Chowk, Maninagar, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
26.05.1958 |
|
Qualification : |
M.A. (History) |
|
Date of Appointment : |
02.03.2009 |
|
DIN No.: |
03560876 |
|
|
|
|
Name : |
Mr. Mandhatasinhji Manoharsinhji Jadeja |
|
Designation : |
Nominee Director |
|
Address : |
Ranjeet Villa Palace, Palace Road, Rajkot – 360001, Gujarat, India |
|
Date of Appointment : |
24.02.2011 |
|
DIN No.: |
00739460 |
|
|
|
|
Name : |
Mr. Sanjay Mool Chand Kaul |
|
Designation : |
Managing Director |
|
Address : |
5C, Royal Palm Apartment, Vazhuthacaud Junction, Thiruvananthapuram -695014, Kerala, India |
|
Date of Birth/Age : |
15.08.1969 |
|
Qualification : |
IAS |
|
Date of Appointment : |
08.02.2011 |
|
DIN No.: |
01260911 |
|
|
|
|
Name : |
Mr. Keshavlal Shivdas Patel |
|
Designation : |
Nominee Director |
|
Address : |
At-Amargadh, Po- Nirona, Taluka-Nakhatrana, District-Kutch, Nakhatrana – 370615, Gujarat, India |
|
Date of Appointment : |
24.02.2011 |
|
DIN No.: |
03560864 |
|
|
|
|
Name : |
Mr. Dinesh Devasibhai Dasa |
|
Designation : |
Nominee Director |
|
Address : |
A/27, Vrundavan, Society, Gandevi Road, Jamalpor, Navasari – 396445, Gujarat, India |
|
Date of Appointment : |
24.02.2011 |
|
DIN No.: |
03560890 |
|
|
|
|
Name : |
Mr. Sanjeev Kumar |
|
Designation : |
Nominee Director |
|
Address : |
Collector’s bunglow, KH253, Sector 19, Gandhinagar – 382019, Gujarat, India |
|
Date of Appointment : |
03.10.2011 |
|
DIN No.: |
03600655 |
KEY EXECUTIVES
|
Name : |
Mr. Mukund S. Joshi |
|
Designation : |
Secretary |
|
Date of Appointment : |
06.12.1995 |
|
PAN No.: |
AARPJ9862G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Names of Shareholders |
No. of Shares |
|
H.E. The Governor of Gujarat, India |
1999901 |
|
M.A. Bhatt |
1 |
|
M.J. Patel |
1 |
|
B.L. Baria |
1 |
|
D.K. Rathod |
1 |
|
H.S. Patel |
1 |
|
D.K. Patel |
1 |
|
B.V. Dantani |
1 |
|
TOTAL
|
1999908 |
AS ON 31.12.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Government [Central and State] |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Tourism Development Service Industries. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
·
Syndicate Bank ·
State Bank of India ·
Dena Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Saremal and Company Chartered Accountants |
|
Address : |
4, 1st Floor, Prarthana Flat, Opposite Sardar Patel Seva Samaj Hall, Off. C. G. Road, Navrangpura, Ahmedahad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26440056 |
|
Fax No.: |
91-79-26464413 |
|
E-Mail : |
|
|
PAN No.: |
AAKFS8981N |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1999909 |
Equity Shares |
Rs.100/-
each |
Rs. 199.991
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
199.991 |
199.991 |
|
(b) Reserves & Surplus |
|
2671.493 |
1815.757 |
|
(c) Deferred
Government Grants |
|
124.807 |
125.974 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2996.291 |
2141.722 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
75.026 |
75.026 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
8.276 |
16.552 |
|
(d) long-term provisions |
|
90.880 |
84.112 |
|
Total Non-current Liabilities (3) |
|
174.182 |
175.690 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current
liabilities |
|
144.596 |
87.408 |
|
(d) Short-term provisions |
|
85.464 |
31.240 |
|
Total Current Liabilities (4) |
|
230.060 |
118.648 |
|
|
|
|
|
|
TOTAL |
|
3400.533 |
2436.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
167.458 |
165.037 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.500 |
5.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.171 |
2.217 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
170.129 |
172.754 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
1888.900 |
866.490 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
3.428 |
5.046 |
|
(d) Cash and cash
equivalents |
|
1239.666 |
1314.268 |
|
(e) Short-term loans and
advances |
|
35.617 |
25.632 |
|
(f) Other current assets |
|
62.793 |
51.870 |
|
Total Current Assets |
|
3230.404 |
2263.306 |
|
|
|
|
|
|
TOTAL |
|
3400.533 |
2436.060 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
199.991 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1317.701 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1517.692 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
75.026 |
|
|
TOTAL BORROWING |
|
|
75.026 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1592.718 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
164.859 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
920.141 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
11.514 |
|
|
Cash & Bank Balances |
|
|
575.883 |
|
|
Other Current Assets |
|
|
15.000 |
|
|
Loans & Advances |
|
|
88.150 |
|
Total
Current Assets |
|
|
690.547 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
38.822 |
|
|
Other Current Liabilities |
|
|
37.754 |
|
|
Provisions |
|
|
106.253 |
|
Total
Current Liabilities |
|
|
182.829 |
|
|
Net Current Assets |
|
|
507.718 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1592.718 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
359.989 |
227.639 |
54.922 |
|
|
|
Other Income |
176.275 |
127.195 |
217.503 |
|
|
|
TOTAL |
536.264 |
354.834 |
272.425 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
135.674 |
118.623 |
120.328 |
|
|
|
Other expenses |
43.994 |
51.602 |
92.160 |
|
|
|
Prior period items |
0.000 |
0.000 |
0.312 |
|
|
|
TOTAL |
179.668 |
170.225 |
212.800 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
356.596 |
184.609 |
59.625 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.488 |
9.142 |
8.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
347.108 |
175.467 |
50.743 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
125.709 |
45.046 |
25.028 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
221.399 |
130.421 |
25.715 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
110.70 |
65.21 |
11.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
41.29
|
36.76 |
9.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
96.42
|
77.08 |
92.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.21
|
7.22 |
5.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.08 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
0.04 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.04
|
19.08 |
3.78 |
LOCAL AGENCY FURTHER INFORMATION
|
CASE DETAILS HIGH COURT OF
GUJARAT SPECIAL CIVIL
APPLICATION No. 23298 of 2007
OFFICE DETAILS
LINKED MATTERS
COURT PROCEEDINGS
AVAILABLE ORDERS
|
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|
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 |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Term Loans from Banks |
75.026 |
75.026 |
|
|
|
|
|
TOTAL |
75.026 |
75.026 |
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current
maturities of long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
NOTE
Registered Office of the company has been shifted from Nagar-16, Gujarat - 382016, India to the present
address w.e.f. 29.06.2006
FINANCIAL RESULTS
The Gross income
during the year 2011-12 was Rs. 536.300 Millions against Rs. 354.800 Millions
in the Previous year. The Gross income during the year has consist of the
following in addition to operational income
FIXED ASSETS
· Land
· Building
· Furniture and Fixtures
· Vehicles
WEBSITE DETAILS
NEWS
PATA ANNOUNCES GRAND AND GOLD AWARD WINNERS
July
27, 2013
The
Pacific Asia Travel Association (PATA) is pleased to announce the winners of
the 2013 PATA Gold Awards.
Proudly
supported and sponsored by the Macau Government Tourist Office (MGTO), for the
last 18 years, this year’s awards recognise the achievements of 22 separate
organisations and individuals.
PATA
will present 26 Grand and Gold Awards, with awards going to Papua New Guinea
Tourism Promotion Authority, Rottnest Island Authority, Korea Tourism
Organization and Travel+Leisure magazine to name
a few. The awards ceremony will take place at the Jinjiang Hotel,
on Sunday, September 15 during the PATA Board and Committee meetings,
just prior to the PATA Travel Mart on September 16-17.
Ms
Maria Helena de Senna Fernandes, Director, MGTO said, “Our hearty
congratulations go out to all PATA Gold Awards 2013 winners. The list of PATA
Gold Awards 2013 winners fully reveals the great dynamism of the Asia Pacific
travel and tourism industry. The innovation and excellence brought by the
winners will inspire the rest of the region to do more and better through this
meaningful PATA awards programme.”
“The
award winners have demonstrated a high degree of creativity and excellence,”
said Mr. Martin J. Craigs, CEO PATA. “We would like to extend our warmest congratulations
and we are delighted to recognise these achievements at the PATA Gold Awards
Luncheon in Chengdu. All winners will be invited to be our guest at the PATA
Travel Mart.”
The
PATA Grand Awards are presented to outstanding entries in four principal
categories: Marketing; Education and Training; Environment; and Heritage and
Culture.
The
Central Plaza Hotel will receive the 2013 PATA Grand Award for Education
and Training for its “4 Cs: Centara Career Creation
for Children” campaign. The programme has provided career development
opportunities to underprivileged students through a five-month training
programme intended to enhance their knowledge and skills in hospitality
services. The initiative aims to expand the workforce base, targeting Thai juveniles
who have the potential to become new workers within the hospitality industry.
The Environmental award
will be presented to Jetwing Hotels, Sri Lanka for its “A Heartfelt Commitment”
project. Highlights of the project include a central chilling system powered
sustainably by a biomass boiler for running the entire air conditioning system
of the hotel. Other initiatives include 100% illumination through energy saving
LED lighting, solar panels powering room lighting, hot water generated through
biomass boilers, and all waste water being treated via a waste water treatment
plant and being re-used within the hotel gardens.
The Heritage
and Culture award will be awarded to Sampran Riverside in
Thailand for its “Sampran Riverside – an eco-cultural destination.” After 50
years of showcasing traditional aspects of Thai life for tourists, Sampram
Riverside has embarked on a new venture: organic agriculture. Sampran Riveside
has enhanced the use of traditional Thai farming culture throughout its
property and the local community. It now promotes the use of Thai food, herbs,
and traditional medicine without chemicals. Organic agriculture products
produced at the property and by local farmers are available for tourists at the
project’s Sookjai Market and Sookjai Organic Development Centre.
The Marketing award
is presented to the Tourism Authority of Thailand for its “Discover the Other
You” digital marketing campaign. This campaign aimed to inspire travellers to
discover their inner desires and develop new perspectives on their own lives,
while creating an unforgettable experience.
Open
to both PATA and non-PATA members, this year’s Awards attracted a total of 165
entries from 60 travel and tourism organizations.
'STATE TRAINING SPECIAL
FORCE FOR TOURISTS'
The Gujarat
government has created a special police force under the home department to
enforce safety and security measures for tourists, state's Tourism Minister
Saurabh Patel said at the national conference of tourism ministers held in New
Delhi on Thursday.
"A
batch of 60 police personnel is undergoing training at present to ensure safety
of tourists and also perform as information providers about tourist
destinations in the state. A 24-hour call centre has been set up by the Tourism
Corporation of Gujarat Limited (TCGL) to help a tourist complainant access the
nearest police station to lodge a complaint... Tourism in the state has
registered a remarkable growth rate of 13.62 per cent in 2012-13, which is much
higher than the national average growth in the sector. Tourism management
kiosks have been developed in all temple towns in Gujarat to maintain
cleanliness standards. Public conveniences have been set up at petrol pumps on
highways in Gujarat to facilitate travellers," Patel was quoted as saying in
a press release issued by the office of Gujarat's Resident Commissioner in
Delhi.
Alleging
discrimination against Gujarat, Patel said the state was not included in the
Incredible India campaign of the Union Ministry of Tourism and none of the
tourist destinations in Gujarat had been projected at the conference, the
release stated.
In
spite of assurances from Prime Minister Manmohan Singh to develop the
world-famous Dandi route, no nod was being given to the government of Gujarat,
Patel was quoted as saying.
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. 61.11 |
|
|
1 |
Rs. 94.77 |
|
Euro |
1 |
Rs. 81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
69 |
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.