MIRA INFORM REPORT
|
Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAHARASHTRA STATE POWER GENERATION COMPANY LIMITED |
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|
Formerly Known As : |
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|
|
|
|
Registered Office : |
Prakashgad, Plot No. G - 9, Bandra (East), Mumbai - 400051,
Maharashtra. |
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Country : |
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|
|
Financials (as on) : |
31.03.2012 |
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|
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Date of Incorporation : |
31.05.2005 |
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|
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Com. Reg. No.: |
11-153648 |
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|
Capital
Investment / Paid-up Capital : |
Rs.51408.467
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U40100MH2005SGC153648 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NGPM03683B |
|
|
|
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PAN No.: [Permanent
Account No.] |
AAECM2935R |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Subject is a Government owned Organization, engaged in Power
Generation Business. |
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|
No. of Employees : |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 275640000 |
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exits |
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Comments : |
Subject is a state government company. It is a well established
company having a satisfactory track record. The financial strength of the company is good and performance capability
is high. The creditors and the lenders can be confident of their exposure in
the company since it is Government Company. The ratings also take into consideration the ongoing debt tunded
capital expenditure, delays in the project execution and fluctuation in the
prices and availability of fuel. However, trade relations are fair. Business is active. Payments are
reported to be regular. In view of strong government support, the company can be considered good
for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities BBB+ |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
February 27, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
February 27, 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 DENIED
MANAGEMENT NON - COOPERATIVE (91-22-26474211)
LOCATIONS
|
Registered Office : |
Prakashgad, Plot No. G-9, Bandra (East), Mumbai-400051, |
|
Tel. No.: |
91-22-26474524 / 2647 4211 |
|
Fax No.: |
91-22-26475749 / 2647 5454 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
AS ON 21.09.2012
|
Name : |
Mr. Prakash Vithal Page |
|
Designation : |
Director |
|
Address : |
131 Poornanand, Malabar Hills, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1953 |
|
Date of Appointment : |
01.12.2008 |
|
DIN No.: |
00096443 |
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|
|
|
Name : |
Mr. Manikrao Ganpatrao Waghmode |
|
Designation : |
Director |
|
Address : |
Saudamini Building, Haji Ali, Mahalaxmi, Mumbai, Maharashtra, India Mumbai |
|
Date of Birth/Age : |
05.05.1953 |
|
Date of Appointment : |
11.03.2011 |
|
DIN No.: |
03405474 |
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|
|
|
Name : |
Mr. Vidyadhar Krishnaji Kanade |
|
Designation : |
Director |
|
Address : |
Department of IE and L, Mantralaya, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1955 |
|
Date of Appointment : |
18.11.2011 |
|
DIN No.: |
00246871 |
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|
|
|
Name : |
Mr. Asheesh Prem Sharma |
|
Designation : |
Managing Director |
|
Address |
2-A, Saudamini Building, Haji Ali, Mahalaxmi, Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
25.12.1971 |
|
Date of Appointment : |
06.07.2012 |
|
DIN No.: |
02329278 |
|
|
|
|
Name : |
Mr. Arvind Gaurishankar Singh |
|
Designation : |
Nominee Director |
|
Address : |
Department of IE and L, Mantralaya, Mumbai, Maharashtra,
India |
|
Date of Birth/Age : |
14.05.1963 |
|
Date of Appointment : |
21.09.2012 |
|
DIN No.: |
02780573 |
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|
|
|
Name : |
Mr. Saiyadaiaz Mumtazali Naqvi |
|
Designation : |
Additional Director |
|
Address : |
Flat No B/18, Building No.12, Government Officers Colony, Haji Ali, Mumbai
– 400034, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1959 |
|
Date of Appointment : |
26.12.2012 |
|
DIN No.: |
06464638 |
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|
|
|
Name : |
Mr. V. P. Singh |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. V. S Patil |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Jai Kumar Srinivasan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Ajit Anantrao Pawar |
|
Designation : |
Energy Minister Chairman |
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|
|
|
Name : |
Mr. Vijay Namdeorao Wadettiwar |
|
Designation : |
Minister of State for Energy, Vice Chairman |
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|
|
Name : |
Mr. Ajoy Mehta |
|
Designation : |
Director(Finance) |
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|
|
Name : |
Mr. S. B. Waghmare |
|
Designation : |
Executive Director (HR) |
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|
Name : |
Mr. S. P. Rekhade |
|
Designation : |
Executive Director(Gen O & M-I ) |
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|
Name : |
Mr. V. S. Patil |
|
Designation : |
Executive Director (SPGD) |
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Name : |
Mr. Jaikumar Srinivasan |
|
Designation : |
Executive Director (Finance & Commercial) |
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Name : |
Mr. V. P. Singh |
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Designation : |
Executive Director (Project-I ) |
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|
Name : |
Ms. Varsha |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2012
|
Names of Shareholders |
No. of Shares |
|
V. K. Kanade Nominee Government of Maharashtra |
49940 |
|
Ajoy Mehta Nominee Government of Maharashtra |
10 |
|
Gulabsingh Girase (Nominee GOM) |
10 |
|
Avinash Subhedar (Nominee GOM) |
10 |
|
K A Retherekar (Nominee GOM) |
10 |
|
L N Sadafule (Nominee GOM) |
10 |
|
D K Kharat (Nominee GOM) |
10 |
|
MSEB Holding company
Limited, Fort, Mumbai, Maharashtra, India
|
5534594564 |
|
TOTAL
|
5534644564 |
AS ON 21.09.2012
|
Equity Share
Breakup |
Percentage of
Holding |
|
Category |
|
|
Government [Central and State] |
0.01 |
|
Government Companies |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a Government owned Organization, engaged in Power
Generation Business. |
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|
Terms : |
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Selling : |
Credit |
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|
|
Purchasing : |
Credit |
PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Installed
Capacity @ Installed (In MW) |
Production/
Generation (In Million KWH ) *
@ |
|
Hydro |
2335 |
4656 |
|
Thermal |
6730 |
36743 |
|
Gas |
672 |
5457 |
|
Solar |
1 |
1.23 |
NOTE:
@ As certified by
the Chief Engineer (Works) and being a technical matter accepted by the
Auditors as correct. The Installed Capacity for Thermal Units for FY 2010-11 is
derated by 70MW. The installed capacity for Hydro Units for FY 2010-11 has
decreased by 9 MW. The installed capacity for Gas Unit for FY 2010-11 has
decreased by 180MW. During the year MSPGCL has newly commissioned 1 MW Solar
Power Project at Chandrapur. Further, with effect from December 2010, MSPGCL
has closed following Units. Bhusawal – 1 (62.50 MW), Koradi-1 to 4 - (480 MW),
Paras -2 (62.50 MW) and Parli (1 and 2) – (60 MW)
*Including auxiliary consumption of 4,118 Million Units (PY 4,449
Million Units)
GENERAL INFORMATION
|
Customers : |
End Users
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No. of Employees : |
Information declined by the management |
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Bankers : |
Tel
No.: 91-22-26501149
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Financial Institute: |
Rural Electrification Corporation Limited, Core 4 Scope Complex, 7
Lodi Road, New Delhi 110003, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
Auditors : |
|
|
Name : |
CVK and Associates Chartered Accountants |
|
Address : |
2 Samarth Apartments, D S Babrekar Road, Dadar West, Mumbai 400028,
Maharashtra, India |
|
PAN No.: |
AAAFC3657K |
|
|
|
|
Statutory
Auditors 1 : |
|
|
Name : |
G M Kapadia Chartered Accountants |
|
Address : |
36 B Tamarind House, Tamarind Lane Fort, Mumbai 400001, Maharashtra,
India |
|
|
|
|
Statutory
Auditors 2 : |
|
|
Name : |
K. S. Aiyar and Company Chartered Accountants |
|
Address : |
Shakti Mills Lane, Off Dr. E .Moses Road, Mahalaxmi, Mumbai - 400 011, Maharashtra, India |
|
|
|
|
Cost
Auditors 1 : |
|
|
Name : |
N. I. Mehta Company Chartered Accountants |
|
|
|
|
Cost
Auditors 2 : |
|
|
Name : |
S. R. Bhargave and Company Chartered Accountants |
|
|
|
|
Holding Company : |
CIN
No.: U40100MH2005SGC153649 |
|
|
|
|
Subsidiaries : |
CIN
No.: U10102MH2006SGC165327
CIN
No.: U40108MH2007SGC168836
CIN
No.: U40105MH2007SGC173433 |
CAPITAL STRUCTURE
As on 21.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000000 |
Equity Shares |
Rs.10/- each |
Rs.250000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5534644564 |
Equity Shares |
Rs.10/- each |
Rs.55346.446
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500050000 |
Equity Shares |
Rs.10/- each |
Rs.25000.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5140846700 |
Equity Shares |
Rs.10/- each |
Rs.51408.467
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 |
|
51408.467 |
25000.500 |
|
(b) Reserves & Surplus |
|
11725.082 |
9721.919 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
5777.934 |
22965.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
68911.483 |
57687.419 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
123919.799 |
109213.653 |
|
(b) Deferred tax liabilities (Net) |
|
7779.084 |
8189.242 |
|
(c) Other long term
liabilities |
|
11259.750 |
13462.062 |
|
(d) long-term
provisions |
|
6317.196 |
6657.187 |
|
Total Non-current
Liabilities (3) |
|
149275.829 |
137522.144 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
61509.050 |
49251.957 |
|
(b) Trade
payables |
|
31035.636 |
32598.832 |
|
(c) Other
current liabilities |
|
48073.801 |
31144.594 |
|
(d) Short-term
provisions |
|
1986.914 |
2369.857 |
|
Total Current
Liabilities (4) |
|
142605.401 |
115365.240 |
|
|
|
|
|
|
TOTAL |
|
360792.713 |
310574.803 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
85445.540 |
86939.939 |
|
(ii)
Intangible Assets |
|
25.819 |
30.139 |
|
(iii)
Capital work-in-progress |
|
160569.084 |
107702.518 |
|
(iv)
Intangible assets under development |
|
254.459 |
28.536 |
|
(b) Non-current Investments |
|
26.600 |
1.600 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
15531.602 |
16342.359 |
|
(e) Other
Non-current assets |
|
5732.581 |
4337.434 |
|
Total Non-Current
Assets |
|
267585.685 |
215382.525 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
14244.219 |
12733.678 |
|
(c) Trade
receivables |
|
37226.439 |
22800.065 |
|
(d) Cash
and cash equivalents |
|
298.714 |
434.134 |
|
(e)
Short-term loans and advances |
|
31372.820 |
34623.426 |
|
(f) Other
current assets |
|
10064.836 |
24600.975 |
|
Total
Current Assets |
|
93207.028 |
95192.278 |
|
|
|
|
|
|
TOTAL |
|
360792.713 |
310574.803 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
25000.500 |
|
|
2] Share Capital Suspense A/C |
|
|
633.633 |
|
|
3] Share Application Money Pending Allotment |
|
|
16312.667 |
|
|
4] Reserves & Surplus |
|
|
6627.351 |
|
|
5] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
48574.151 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
93104.614 |
|
|
2] Unsecured Loans |
|
|
36775.303 |
|
|
TOTAL BORROWING |
|
|
129879.917 |
|
|
DEFERRED TAX LIABILITIES |
|
|
5008.079 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
183462.147 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
59589.339 |
|
|
Capital work-in-progress |
|
|
103532.073 |
|
|
Assets Retired Form Active Use and Held for Sale |
|
|
0.315 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.100 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
10878.902
|
|
|
Sundry Debtors |
|
|
32408.577
|
|
|
Cash & Bank Balances |
|
|
2162.111
|
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
64207.444
|
|
Total
Current Assets |
|
|
109657.034
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
59148.580
|
|
|
Other Current Liabilities |
|
|
23810.065
|
|
|
Provisions |
|
|
6359.069
|
|
Total
Current Liabilities |
|
|
89317.714
|
|
|
Net Current Assets |
|
|
20339.320
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
183462.147 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
127730.959 |
121418.304 |
110832.506 |
|
|
|
Other Income |
1502.887 |
894.202 |
1032.889 |
|
|
|
TOTAL (A) |
129233.846 |
122312.506 |
111865.395 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
95282.125 |
|
|
|
|
|
Employee benefit expense |
7932.733 |
8705.599 |
|
|
|
|
Other expenses |
11442.313 |
12034.258 |
|
|
|
|
TOTAL (B) |
114657.171 |
103557.173 |
100212.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14576.675 |
18755.333 |
11652.595 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8536.804 |
6574.331 |
4698.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6039.871 |
12181.002 |
6953.782 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4038.865 |
4181.272 |
3009.423 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2001.006 |
7999.730 |
3944.359 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.157) |
4905.163 |
1910.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2003.163 |
3094.567 |
2033.984 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9721.918 |
6627.351 |
4588.992 |
|
|
|
|
|
|
|
|
|
Add/ Less |
TRANSFERRED
TO/FROM DEBENTURE REDEMPTION RESERVE |
-- |
-- |
4.375 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11725.081 |
9721.918 |
6627.351 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and spare parts |
4.412 |
5.266 |
13.032 |
|
|
|
Capital Good |
0.000 |
0.000 |
2160.802 |
|
|
TOTAL IMPORTS |
4.412 |
5.266 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.38 |
0.68 |
0.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.55
|
2.53
|
1.81
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.57
|
2.55
|
3.55
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.00
|
3.94
|
2.33
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.14
|
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.69
|
2.75
|
2.67
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.65
|
0.85
|
1.22
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturities of Long Term Debt |
9737.575 |
5264.051 |
0.000 |
|
|
|
|
|
|
Total |
9737.575 |
5264.051 |
0.000 |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
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:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Term Loan |
|
|
|
From Financial Institution |
|
|
|
Power Finance Corporation |
4017.469 |
5245.591 |
|
From government of Maharashtra |
949.251 |
1265.501 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Loan repayable on Demand |
|
|
|
From Banks |
|
|
|
Working Capital loan from Banks |
36390.209 |
29550.000 |
|
Temporary Loan from Banks |
644.341 |
0.000 |
|
Project Specific loans from banks |
16604.500 |
7370.000 |
|
|
|
|
|
From Others |
|
|
|
Term Deposit MMRDA |
0.000 |
1000.000 |
|
|
|
|
|
Total |
58605.770 |
44431.092 |
LITIGATION DETAILS
|
Case Details |
||||||||
|
Bench:- Bombay |
||||||||
|
Stamp No:- |
WPST/8038/2013 |
Failing Date:- |
13.03.2013 |
Reg. No.:- |
WP/3042/2013 |
Reg. Date:- |
22.03.2013 |
|
|
|
||||||||
|
Petitioner:- |
TRIMURTI INDUSTRIES, THROUGH PARTNER |
Respondent:- |
MAHARASHTRA STATE POWER GENERATION COMPANY LIMITED |
|||||
|
Petn. Adv.: |
JAYANKAR AND PARTNERS |
|
|
|||||
|
District:- |
NASHIK |
|||||||
|
|
||||||||
|
Bench:- |
DIVISION |
|
|
|
||||
|
Status:- |
Pre-Admission |
|
|
|||||
|
Next Date: |
18.11.2013 |
Stage:- |
FOR ADMISSION – FRESH [CIVIL SIDE MATTERS] |
|||||
|
Coram:- |
According to sitting list According to sitting list |
|||||||
|
Last Date : |
17.09.2013 |
Stage:- |
FOR ADMISSION – FRESH [CIVIL SIDE MATTERS] |
|||||
|
Last Coram : |
HON’BLE SHRI JUSTICE V.M. KANDE HON’BLE SHRI JUSTICE S.C. GUPTE |
|||||||
|
Act: |
Environment protection Act 1986 |
|||||||
FINANCIAL PERFORMANCE
During the year, the income from sale of power increased by 5% from Rs.121418.300 Millions to Rs.127730.900 Millions. Other income during this period increased by 69% to Rs.1502.800 Millions thereby making overall increase in total income 6%. The cost of material consumed increased 15% from Rs.82817.300 Millions to Rs.95282.100 Millions which mainly comprise increase in cost of raw material 22% and imported coal 49% . The Finance cost increased by 30% from Rs.6574.300 Millions to Rs.8536.800 Millions mainly on account of interest burden on new Parli 7 and Paras 4 units and increase in working capital loans. In the employee cost, depreciation and other expenses, there has been nominal decrease of 9%, 3% and 5% respectively. As a result, overall margin is reduced by 35 % to Rs.2003.100 Millions from Rs.3094.500 Millions previous year.
(A) Commissioned Thermal Power Projects – 500 MW:
Khaperkheda TPS Unit 5 (500 MW) :
Order for main plant equipment has been placed on M/s. BHEL on 23.01.07
(Zero date). Order for balance of plant has been placed on 03.07.07 on M/s BGR
Energy Systems Limited
The trial operation of the unit is completed on 04.04.2012 and the unit
has been commissioned on 16.04.2012 and is presently under operation.
Government of Maharashtra has approved the above project vide Government
Resolution no. vi ni k 2005 / Pra. Kra. 2044 / Oorja-4 dated 12.05.06.
(B) Ongoing Projects- 4230 MW:
1. Bhusawal TPS Unit 4 and 5 (2 x 500 MW) :
Order for main plant equipment has been placed on M/s. BHEL on 23.01.07
(Zero date). Order for balance of plant has been placed on 05.11.07 on M/s Tata
Projects Limited
Government of Maharashtra has approved the above projects vide
Government Resolution no. vi ni k 2005 / Pra. Kra. 2044 / Oorja-4 dated
12.05.06.
2. Chandrapur TPS Unit 8 and 9 (2 x 500 MW):
Order for main plant equipment has been placed on M/s. BHEL on 25.07.08.
Zero date: 09.02.09. Order for balance of plant has been placed on 12.06.09 on
M/s BGR Energy System Limited, Chennai.
The works on the project are in progress. The commissioning of Unit 8 is
expected by November 2013 and that of Unit 9 by February 2014.
Government of Maharashtra has approved the project vide Government
Resolution no. Project - 2007/ Pra. Kra. 1106/ Urja-4 dated 05.03.08.
Parli TPS Unit 8 (250 MW) :
Order for main plant equipment has been placed on M/s. BHEL on 20.01.09
(Zero date). Order for Balance of Plant excluding Natural Draft Cooling Tower
(NDCT) from it's scope, is placed on M/s Sunil Hi-Tech Engineers Limited On
01.01.2010. Order for NDCT with film fills is placed on M/s Gammon India
Limited on 05.01.2010
The works on the project are in progress. The commissioning of the unit
is expected by September 2013.
Government of Maharashtra has approved the above project vide Government
Resolution no. prakalpa- 2008/ pra.kra. 1491/ Urja - 4 dt. 26.05.09.
Koradi TPS Unit 8, 9 and 10 (3 x 660 MW) :
Order for Boiler and Turbo Generator package has been placed on M/s. L
and T on 23.09.09 (Zero date). Order for Balance of plant is placed on M/s.
Lanco Infratech Limited, Haryana on 27.07.10. Further works on the project are
in progress.
The commissioning (COD) of Unit 8 is scheduled by Dec.2013 followed by
Unit 9 by June 2014 and Unit 10 by Dec. 2014.
Government of Maharashtra has approved the project vide Govt. Resolution
No. Prakalp - 2008/ Pra. Kra. 1189/ Urja-4 dated 14.10.2008.
Future Projects
(13530 MW):
1. Uran Gas Based
Combined Cycle Power Plant (1220 MW): (Block-I : 406 MW, Block-II: 814 MW)
Land, Water and other statutory clearances are available.
GoM has accorded approval for implementation of 1220 MW Combined Cycle Power Project at Uran vide Government Resolution no. Project 08/ Pra.kra.1246/ Urja-4 dated 02.03.2010.
Tender for Lump sum turnkey contract for installation of 1220 MW advance class gas turbine based CCPP is cancelled in view of the Circular dtd. 19.03.2012 issued by CEA regarding guidelines stating that the developers not to plan any gas based power project till 2015-16 on domestic gas, as the production of domestic gas is declined.
2. Bhusawal TPS Unit
6 (1 x 660 MW ):
Land: Land for the project is acquired.
Water: 13 MM3/ year can be made available from Hatnur Dam and Sudhgaon Bandhara and the balance water requirement of 7 MM3/year from Ozerkheda Dam.
.
Fuel : MahaGuj collieries Limited has, vide letter dtd. 18th May, 2011, assured supply of coal to this project from Machhakata coal blocks.
Environment Clearance: Environmental Public hearing was held on 28/02/2012.Application for grant of Environmental Clearance submitted to MoE and F, New Delhi vide letter no.441 dated 18.05.2012. EAC has recommended EC for project. Compliance to six conditions put up by EAC has been submitted to MoEF on 16/8/2012. EIA report submitted to MoEF.
NIT issued on 05.11.2011 for Bhusawal Thermal Power Station (1 x 660 MW) on EPC basis. Tender sale upto 26.03.2012. Bid submission and Cover-I opening is scheduled on 20.11.2012
Government of Maharashtra has accorded approval for implementation of this project vide Government Resolution no. Prakalpa - 2010/ Pra. Kra. 3/ Urja-4 dated 05.10.2010.
3. Nasik TPS Unit 6
(1 x 660 MW) :
Land: Land for setting of this project is being made available by suitable readjustment of land in possession of Mahagenco.
Water: WRD has, vide letter dtd. 12th Jan.2011, approved reservation of 6.5 mm3 /year of additional water.
Fuel : MahaGuj has, vide letter dtd. 18th May, 2011 assured supply of coal to this project from Mahanadi coal blocks.
Environment Clearance: The Terms of Reference (TOR) is received from Ministry of Environment and Forests, Govt. of India on 09.06.2011. Environment Impact Assessment study is prepared. Application for consent to establish submitted to MPCB.
Government of Maharashtra has accorded approval for implementation of this project vide Government Resolution no. Prakalpa - 2011/ Pra. Kra. 313/ Urja-4 dated 29.12.2011.
4. Paras Thermal
Power Project Unit 5 (1 x 250 MW):
It is planned to install one coal based super critical unit of 250 MW capacity at Paras.
Land: Land for above project is acquired.
Water: Water for this project is available from lower Mun barrage.
Fuel : MahaGuj has, vide letter dtd. 18th May, 2011 assured supply of coal to this project from Mahanadi coal blocks.
Environment Clearance: The Terms of Reference (TOR) from Ministry of Environment and Forests, Govt. of India are displayed on website on 07.09.2012.
Draft cabinet note for approval of the project submitted to Secy. GOM on 02.07.2012.
5. Latur Coal Based
Unit 1 and 2 (2 x 660 MW) or Gas based CCPP Block-I and II (2 x 750 MW):
MSPGCL has signed Memorandum of Understanding with M/s. BHEL on 12.08.09 for formation of Joint Venture Company to set up 2 x 660 MW super critical Power Plant or 1500 MW gas based combined cycle power plant at Latur. The Joint Venture Agreement with M/s. BHEL is signed on 11.11.2010. Certificate of incorporation of Latur Power Company Limited is issued by Registrar of Companies, Mumbai under the Companies Act on 06.04.2011. The Chief Operating Officer has been appointed.
The activities for land acquisition for 1500 MW gas based project are in progress. Divisional Commissioner has accorded approval for rates of the land required to be acquired.
Action for fuel linkage is in progress with MoC/ MoPNG.
GoM, has, vide letter no. Prakpla-0610/Pra.Kra.194/Urja-4 dated 25.10.2010, accorded in-principle approval for setting up of 2 x 660 MW Coal based or 1500 MW Gas based Power Project at Latur or any suitable place in Maharashtra.
6. Dhopawe TPS
Project Unit – 1 to 3 (3 x 660 MW):
This project is proposed for implementation by way of Joint Venture structuring.
Land : The proposal for acquisition of @ 600 Ha land is submitted to Collector, Ratnagiri. Land acquisition activities are in progress.
Water : Total 80 MM3 water required for the project is available from Koyna tailrace.
Fuel : Ramp-up quantity coal from Machakkata coal block shall be available for the project.
MoE and F clearance: The Terms of Reference (TOR) is issued by Ministry of Environment and Forests, Govt. of India in their meeting dated 06.09.2010 for carrying out Environment Impact Assessment (EIA) studies. Terrestrial EIA completed. Two sections of Marine EIA report received from NIO, Mumbai on 07.09.2012.
For consultancy services in assisting the selection of JV partner and its structuring work order is placed on M/s. aXYKno Capital Services, Nagpur. vide letter dtd. 30.11.11 combined for Dondiacha and Dhopawe.
Proposal has been submitted to GoM vide letter dated 13.10.2010 for in principle approval for JV structure, ownership and equity participation. Correspondence is in progress.
7. Dondaicha TPS Unit
– 1, 2, 3, 4 and 5 (5 x 660 MW) :
Land: Total land for 5 x 660 MW Project: : 942.16 H. Land acquisition activities are in progress.
Water:WRD has accorded approval (in general) for reservation of 40 MM3 water from Nimna Tapi project on Tapi river for 2x660 MW (Stage-I). TIDC has informed that additional 45 MM3 of water for 3 x 660 MW (Stage-II) could be made available from Nimna Tapi project on Tapi river.
Fuel : Coal required for Unit 1 and 2 (Stage-I) will be made available from Chendipada Coal block, Orissa. The U.C.M (Uttarpradesh-Chattisghad-Maharashtra) Joint venture company who have been allotted the coal block have appointed M.D.O to develop the said mine. The coal for Unit 3, 4 and 5 (Stage-II) is proposed to be made available from Machhakata coal block in Orissa. However, if Dhopawe 3x660 MW project is approved by GoM, the coal available from this coal block will be diverted to Dhopawe project and the coal required for Dondaicha Stage-II project will be made available from Mahanadi coal block in Orissa. In case of delay in availability of coal from Mahanadi coal block, coal will be made available from tapered linkage.
MoE and F clearance: The Terms of Reference (TOR) is received from Ministry of Environment and Forests, Govt. of India on 05.05.2011. Environment Impact Assessment study is in progress.
Matter taken up with Government of Maharashtra for approval of the project. Correspondence is in progress
8. Coal based Thermal
Power Project near Kanpa (Tal.Nagbhid, Dist. Chandrapur)
(2x660 MW):
This project is proposed for implementation by way of Joint Venture structuring. Preliminary activities for land acquisition is in progress. Matter taken up with WRD for requirement of 40 MM3 water for this project. For grant of long term coal linkages, follow up is going on with Ministry of Coal/ CEA.
9. Coal based Thermal
Power Project in Mendki (Tal. Brahmapuri, Dist.Chandrapur)
(2x660 MW):
This project is proposed for implementation by way of Joint Venture structuring. Preliminary activities for land acquisition is in progress. Matter taken up with WRD for the requirement of 40 MM3 water for this project. For grant of long term coal linkages, follow up is going on with Ministry of Coal/ CEA.
10. Coal based
Thermal Power Project near Manora (Tal.Tiroda, Dist. Gondia (2 x 660 MW):
This project is proposed for implementation by Mahagenco near Manora in Gondia District.. Preliminary activities for land acquisition is in progress. Matter taken up with WRD for requirement of 40 MM3 water for this project. For grant of long term coal linkages, follow up is going on with Ministry of Coal/ CEA.
CONTINGENT LIABILITY:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Claims against company not acknowledged as Debts |
5587.748 |
3377.035 |
|
Disputed Duties / Tax |
1114.291 |
1226.788 |
|
Demands Bank Guarantee given by Company on behalf of JV (Mahaguj Collieries Limited) |
138.975 |
138.975 |
|
Note – An
amount of Rs.1114.291 Millions shown against “Disputed Duties and Tax
Demands” include an amount of Rs.1073.215 Millions towards penalty levied by
Income Tax Department vide order dated 31-03-2011, issued u/s 271(1)(c ) of
Income Tax Act in respect of assessment for AY 2007-08. the company has
preferred an appeal with Commissioner (Income Tax Appeals) against the said
penalty order. |
||
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10441513 |
19/07/2013 |
5,000,000,000.00 |
CANARA BANK |
SPECIALIZED PRIME CORPORATE BRANCH ,FORT,
2ND FLOOR VERMA CHAMBERS, 11 HOMJI STREET FORT, MUMBAI, Maharashtra - 400001,
INDIA |
B81248833 |
|
2 |
10416169 |
28/03/2013 |
10,000,000,000.00 |
CENTRAL BANK OF INDIA |
KHERNAGAR, BANDRA EAST, MUMBAI,
Maharashtra - 400051, INDIA |
B71922926 |
|
3 |
10423934 |
26/03/2013 |
393,900,000.00 |
INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY
LIMITED |
INDIA HABITAT CENTRE1ST FLOOR EAST COURT CORE,
4A LODHI ROAD, NEW DELHI, Delhi - 110003, INDIA |
B74496266 |
|
4 |
10416172 |
26/03/2013 |
2,000,000,000.00 |
VIJAYA BANK |
PLOT NO5 TPS III LAND MARKS BESANT ROAD,
VILEPARLE WEST, MUMBAI, Maharashtra - 400056, INDIA |
B71923452 |
|
5 |
10414585 |
16/03/2013 |
34,350,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
B71739882 |
|
6 |
10415545 |
15/03/2013 |
284,000,000.00 |
HOUSING AND URBAN DEVELOPMENT CORPORATION
LIMITED |
HUDCO BHAWAN, INDIA, HABITAT CENTER, LODHI
ROAD, NEW DELHI, Delhi - 110003, INDIA |
B71955868 |
|
7 |
10413498 |
07/03/2013 |
95,600,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW
DELHI, Delhi - 110003, INDIA |
B71353833 |
|
8 |
10411810 |
07/03/2013 |
669,100,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW
DELHI, Delhi - 110003, INDIA |
B70771274 |
|
9 |
10413599 |
07/03/2013 |
1,089,700,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW
DELHI, Delhi - 110003, INDIA |
B71355192 |
|
10 |
10381072 |
22/08/2013 * |
95,040,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
B83750190 |
|
11 |
10304606 |
10/08/2011 |
1,500,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
289, EMCA HOUSE, GROUND FLOOR, S B SINGH
ROAD, FORT, MUMBAI, Maharashtra - 400038, INDIA |
B19783463 |
|
12 |
10247605 |
18/10/2010 |
106,300,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
A97035406 |
|
13 |
10221234 |
19/04/2010 |
2,000,000,000.00 |
SYNDICATE BANK |
4 BAHADURSHAH JAFARMARG, INDRAPRASTH
ESTATE, NEW DELHI, Delhi - 110002, INDIA |
A85171858 |
|
14 |
10185589 |
28/07/2010 * |
11,000,000,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW
DELHI, Delhi - 110003, INDIA |
A92457910 |
|
15 |
10146571 |
30/07/2011 * |
44,000,000,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW
DELHI, Delhi - 110003, INDIA |
B19788504 |
|
16 |
10106246 |
20/09/2012 * |
32,500,000,000.00 |
BANK OF INDIA |
Large Corporate Branch, Oriental Building,
364, D. N. Road Fort, MUMBAI, Maharashtra - |
B58478132 |
|
17 |
10098545 |
19/06/2013 * |
2,172,100,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
B78480654 |
|
18 |
10089177 |
31/01/2008 |
5,000,000,000.00 |
CANARA BANK |
8/10 CALCOT HOUSE TAMARIND LANE, MUMBAI,
MUMBAI, |
A32859803 |
|
19 |
10067112 |
02/08/2007 |
1,500,000,000.00 |
INDIAN BANK |
NARIMAN POINT BRANCH, MUMBAI, Maharashtra
- 400021 |
A22581086 |
|
20 |
10047121 |
03/01/2011 * |
25,760,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
B02957884 |
|
21 |
10048209 |
10/06/2011 * |
51,719,000,000.00 |
RURAL ELECTRIFICATION CORPORATION LIMITED |
CORE 4SCOPE COMPLEX, 7 LODI ROAD, NEW
DELHI, Delhi - 110003, INDIA |
B17426693 |
|
22 |
10037081 |
25/01/2007 |
1,220,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
A10475549 |
|
23 |
10022847 |
29/11/2010 * |
11,269,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT PLACE,
NEW DELHI, Delhi - 110001, INDIA |
B01457092 |
|
24 |
10022864 |
06/11/2010 * |
13,720,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
A99584328 |
|
25 |
10004978 |
14/08/2013 * |
6,001,866,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
B83419515 |
|
26 |
10035020 |
22/02/2007 * |
11,740,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT
PLACE, NEW DELHI, Delhi - 110001, INDIA |
A00983163 |
|
27 |
10005076 |
05/05/2006 |
545,500,000.00 |
POWER FINANCE CORPORATION LIMITED |
36, CHANDRALOK BUILDING, JANPATH, NEW
DELHI, Delhi - 110001, INDIA |
A00983437 |
|
28 |
10014564 |
05/05/2006 |
1,000,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
36, CHANDRALOK BUILDING, JANPATH, NEW
DELHI, Delhi - 110001, INDIA |
A01111475 |
|
29 |
10005075 |
05/05/2006 |
8,200,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
36, CHANDRALOK BUILDING, JANPATH, NEW
DELHI, Delhi - 110001, INDIA |
A00983312 |
* Date of charge modification
FIXED ASSETS:
- Land (Including development)
- Freehold
- Leasehold
- Building
- Factory Buildings
- Hydraulic Works
- Other Civil Works
- Railway Sidings
- Road and Others
- Plant, Machinery and Equipments
- Lines and Cable Networks
- Vehicles
- Furniture and Fixtures
- Other Equipments (Including Computers)
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.61.40 |
|
|
1 |
Rs.99.28 |
|
Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
54 |
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.