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Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE CHANAKYA EDUCATION SOCIETY |
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Registered
Office : |
85/5-A, Tapasya, Pune – 411033, |
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Country : |
India |
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Year of
Establishment : |
1994 |
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Capital
Investment : |
Not Divulged |
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Legal Form : |
Education Society |
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Line of Business
: |
Providing Education in Field of Business Management. |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established and reputed institute having satisfactory
track record. The institute provides top quality education in the field of business
management, International Business and Information Technology. Business is active. Payments are reported to be usually correct. Subject can be considered normal 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces
a 119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB” Withdrawn |
|
Date |
April, 201 |
Reason for Withdrawn: Care has withdrawn rating assigned to long term Bank Facilities of Shree Chanakya Education Society as the company has fully repaid the rated term loan.
There is no outstanding against the rated bank facility.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Vinaya |
|
Designation : |
Accountant |
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Contact No.: |
91-20-66739825 |
|
Date : |
17.12.2013 |
LOCATIONS
|
Registered Office : |
85/5-A, Tapasya, Pune – 411033, |
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Tel. No.: |
91-20-66739825/ 66739862/ 66759400/ 500 |
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Fax No.: |
91-20-66739852/ 22934126 |
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Email: |
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Website : |
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Location: |
Owned |
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Administrative Office: |
(Indira Group of Institute) Flat No.1, Runwal, Plot No.4, Sr. No.1,
Runwal, Plot No. 4, Sr. No.258/1/3, Balaji Park, Barve, Pune – 411007,
Maharashtra, India |
|
Tel. No.: |
91-20-66739851 |
MANAGEMENT
|
Name : |
Mr. Chetan S. Wakalkar |
|
Designation : |
Group Director |
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Name : |
Dr. Tarita Shankar |
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Designation : |
Chair Person |
KEY EXECUTIVES
|
Name : |
Ms. Vinaya |
|
Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Providing Education in Field of Business Management. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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No. of Employees : |
700 (Approximately) |
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|
|
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Bankers : |
· Bank of Maharashtra, Shivaji Nagar HDFC Bank Limited |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shashak and Assciates Chartered Accountants |
CAPITAL STRUCTURE
|
Capital Investment : |
|
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
The above information has been declined by Ms. Vinaya (Accountant).
Note: Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
No |
HISTORY:
Subject, Pune, was established in 1994, with the explicit vision to provide sustainable impetus to the corporate and entrepreneurial abilities in the youth.
The realization that a robust framework of education is indispensable for the
growth of global leaders, the visionary,
Dr. Tarita Shankar,
Chairperson, Indira Group, integrated her pursuit of excellence and articulated
educational institutions, known as Indira
Group of Institutes (IGI), which imbibe human excellence and
demonstrate strong social values, with a single minded pursuit of developing
the youth to become business leaders.
Unrelenting initiatives by the management team at Indira led to adding of
multi-disciplines such as Management, Information Technology, Pharmacy,
Commerce, Science, Engineering and Mass Communication to the group. And growth
has been as deep as it has been wide. With 14 institutions, IGI now offers
education right from Kindergarten to Doctorate level studies.
IGI believes in the economic independence of individuals. In this endeavor they
aim to inspire there post graduate students to create a niche for themselves in
the Indian Economic order first, and then compete globally. They owe their
gratitude to the Indian Industry for consistently collaborating with us in this
endeavor. Renowned industrialists have visited us and tremendously enhanced the
morale of their students by sharing their vast knowledge and experience about
entrepreneurial opportunities and foster a spirit of entrepreneurship amongst
students.
Having traversed the journey of thirteen years they have their selves made
certain significant achievements which they are aware, are but the building
blocks for achieving further heights.
They also have their audiovisual centers supported by Harvard Business School , Stanford, Pyramid Media and Tom Peters Company and they have vast collection of titles.
PROFILE:
Subject was established in February 1994, under the visionary leadership of Dr. Tarita Shankar, with the aim of providing top quality post-graduate education in the fields of Business Management, International Business and Information Technology. By consistently providing quality education over the past few decades, institutes at Indira Group is now considered as one of the best institutes in Pune. At a time when India was struggling to put its economy back on its feet, after the nation having pawned the “family jewels” just to keep afloat, Dr. Tarita Shankar sensed that education too would have to become more broad based and more vocational in nature if India was to stand up to the world competition in quality and price for its products, The then Finance Minister had prescribed for the economy and so, in 1994, began a saga of growth and quality in education; a story that is just reaching its zenith with 14 full fledged Institutes registering a strong presence on Pune’s educational horizon. Since inception, the Institutes managed by SCES, have maintained high academic standards and have successfully provided trained manpower to the industrial and services sector of the country. These institutes are now listed amongst the top colleges not just in Pune, but also in Maharashtra and India. With a modest strength of 60 students pursuing a single course, SCES has grown steadily and today boasts of 14 Institutes, having more than 8000 students from all over India pursuing multi-disciplinary, graduate and post-graduate programs. The objective of the institute is providing ‘Management education in a corporate environment’, has been possible due to the sincere and dedicated efforts of the members of SCES, who have invaluable experience in varied areas like academics, industry, service and social-world.
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.62.24 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Report Prepared
by : |
MRI |
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.