MIRA
INFORM REPORT
|
Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORANGE CITY
WATER PRIVATE LIMITED |
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Registered
Office : |
4th
Floor Madhu Madhav Tower, Laxmi Bhuvan Square, Dharampeth, Nagpur – 440 010,
Maharashtra |
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Country : |
India |
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Date of
Incorporation : |
07.03.2011 |
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Com. Reg. No.: |
11-214422 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000
millions |
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CIN No.: [Company Identification
No.] |
U41000MH2011PTC214422 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business
: |
Subject is engaged in supplying water in Nagpur. |
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No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Mr. Punit, Accounts Executive has provided some general information
and denied to disclose any financial detail. The management has not filed its financials with the Government
Department. The networth of the company appears good. Trade relations are reported as improving. Business is active. Payment
terms are unknown. The company can be considered for business dealings with some caution.
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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
|
Source
: CIA |
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 (PARTIAL DETAILS)
|
Name : |
Mr. Punit |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-9028080451 |
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Date : |
22.02.2013 |
LOCATIONS
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Registered Office : |
4th Floor
Madhu Madhav Tower, Laxmi Bhuvan Square, Dharampeth, Nagpur – 440 010,
Maharashtra, India |
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Tel. No.: |
91-712-6669899 |
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Mobile No.: |
91-9028080451 (Mr. Punit) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Head Office : |
Gayatri Nagar, Nagpur – 440 022, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Arun Hanumandasji Lakhani |
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Designation : |
Director |
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Address : |
Flat No.501, Omkar Tower, Tikekar Road, Dhantoli, Nagpur – 440 010,
Maharashtra, India |
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Date of Birth/Age : |
04.08.1961 |
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Date of Appointment : |
04.12.2012 |
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DIN No.: |
00294583 |
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E-Mail : |
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Name : |
Mr. Patrick Roger Louis Rousseau |
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Designation : |
Director |
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Address : |
52, Rue D' Anjou, 75008 Paris 08, Paris 75008 |
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Date of Birth/Age : |
15.09.1952 |
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Date of Appointment : |
07.03.2011 |
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DIN No.: |
01607122 |
KEY EXECUTIVES
|
Name : |
Mr. Punit |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.03.2011
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Names of Shareholders |
|
No. of Shares |
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Vishvaraj Environment Private Limited, India |
|
5000000 |
|
Veolia Water (India) Private Limited, India |
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5000000 |
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Total |
|
10000000 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in supplying water in Nagpur. |
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Terms : |
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Selling : |
Cash and Credit (30/ 60 days) |
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Purchasing : |
Cash and Credit (30/ 60 days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
IDBI Bank Limited, IDBI Tower, WTC
Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Batliboi and Purohit Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each
|
Rs.100.000
millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each
|
Rs.100.000
millions |
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|
|
|
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FINANCIAL DATA
[all figures are in
Rupees Millions]
NOT DIVULGED
The above information has been declined by Mr. Punit (Accounts
Executive).
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
No |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
No |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
Yes |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
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32)
PAN of Proprietor/Partner/Director, if available |
No |
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33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34)
External Agency Rating, if available |
No |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U41000MH2011PTC214422 |
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Name of the company |
ORANGE CITY
WATER PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
4th Floor
Madhu Madhav Tower, Laxmi Bhuvan Square, Dharampeth, Nagpur – 440 010,
Maharashtra, India E-Mail: roc@vilindia.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Uncalled share
capital Book debts Movable property
(not being pledge) Goodwill Others (Material
Project Documents, Clearances etc.) |
|
Particular of charge holder |
CIN No.: L65190MH2004GOI148838 IDBI Bank Limited, IDBI Tower, WTC Complex,
Cuffe Parade, Mumbai – 400 005, Maharashtra, India E-Mail: pawan.agrawal@idbi.co.in |
|
Nature of description of the instrument
creating or modifying the charge |
Unattested Memorandum of Hypothecation
dated 21.10.2011 |
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Date of instrument Creating the charge |
21.10.2011 |
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Amount secured by the charge |
Rs.620.000 millions |
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Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: On CC limit of Rs.220.000 millions, Base
Rate+2.50% i.e. presently 13.25% p.a. payable monthly On Bank Guarantee of Rs.400.000 millions,
Commission 1% per annum (plus applicable taxes, payable quarterly in advance) Terms of Repayment: For CC limit terms of repayment - on
Demand For Bank Guaranty term of repayment - on
Maturity Devolvement Margin: CC Limit - 25% on current assets including
book debt Bank Guarantee - 10% Cash margin (in form
of FD) Extent and Operation of the charge: The charge created in favour of IDBI Bank
shall be first pari passu charge with the term lenders who have grated RTL of
Rs.2210.000 millions. |
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Short particulars of the property charged |
All rights, title, interest and benefit in
all and singular, the whole of the Borrower's movable plant and machinery, as
also all tangible and intangible moveable assets. All rights, title, interest, benefit,
claims and demands Whatsoever of the Borrower, in, to, under and/or in
respect of the material Project Documents, clearances All rights, title, interest, benefit,
claims and demands whatsoever of the Borrower, to, under and/or in respect of
the Insurance Contracts and proceeds All rights, title, interest, benefit,
claims and demands whatsoever of the Borrower, to, under and/or in respect of
the Accounts together with Permitted Investments All amounts owing to, and received by, the
borrower and all rights, title, interest, benefits, claims and demands
whatsoever of the Borrower in, to or
in respect of uncalled capital, current assets All rights, title, interest, benefit,
claims and demands whatsoever of the Borrower, in any letter of credit,
guarantee performance bond provided by the counter party to the Borrower. |
WEBSITE DETAILS:
NEWS:
NAGPUR MUNICIPAL CORPORATION, ORANGE CITY WATER
PRIVATE LIMITED START WATER TAX COLLECTION CENTRE AT MHALGI NAGAR
Proshun Chakraborty, TNN November 6, 2012, 08.39PM IST
NAGPUR: The
consumers, especially elderly citizens from Mhalgi Nagar and neighbouring areas
will henceforth need not travel far to submit their water tax bills. Nagpur
Municipal Corporation water works department and Orange City Water Private
Limited have set up a cash collection counter at Mhalgi Nagar ESR for their
convenience.
The NMC-OCW cash
collection centre would be operational from 9 am to 4 pm for the peak payment
season for the quarterly consumers.
NMC-OCW has also
been operating one such seasonal cash collection center at Narendra Nagar area
which will become operational from November 20.
Mayor Anil Sole
inaugurated the cash collection centre at a ceremony at Mhalgi Nagar ESR area
on Saturday. Water Works Committee chairman Sudhakar Kohale and Hanuman Nagar
zone chairperson Swati Akhatkar presided over the function.
Corporators Neeta
Thakre, Rita Mule, Satish Hole, former corporator Deepak Dhurde and Ashok Mule
also participated in the programme. The NMC-OCW also operates two dedicated
cash collection centres one at Pande Lay Out ESR and another at Dhantoli Loha
Pul office.
Along with these
facilities consumers can also submit water tax at its regular cash collection
centres one each at every NMC zone office, one especially for Dharampeth Demo
zone and another at Water works dept headquarters.
This long term vision of the NMC is being delivered through Orange City Water
Private Limited, under JNNURM with a 25 years Public Private Partnership
scheme.
Since the
takeover, the OCW has been constantly addressing the challenging task of
managing and operating water supply and also customer related services.
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 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.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.