MIRA
INFORM REPORT
|
Report Date : |
07.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
NHAVA SHEVA INTERNATIONAL CONTAINER TERMINAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Darabshaw House, Level 1, Narottam Morarji Road, Ballard Estate, Mumbai
– 400038, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.03.1997 |
|
|
|
|
Com. Reg. No.: |
11-106790 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1639.109
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203MH1997PTC106790 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN05939D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN0185H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of developing, operating, marketing
and managing container handling and unit loading/ unloading facilities at
Jawaharlal Nehru Port. |
|
|
|
|
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 15000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a well established company having good track record. Overall financial of the company appears to be strong and healthy. Trade relations are fair. Business is active. Payment terms are
regular and as per commitment. The company can be considered for business dealing at usual trade
terms and condition. |
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 |
ICRA |
|
Rating |
Long Term : Term Loan = A (SO) |
|
Rating Explanation |
Adequate credit quality and average credit risk |
|
Date |
15.05.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term : Non Fund Based Limits = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
15.05.2012 |
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
|
Name : |
Mr. Murtuza |
|
Designation : |
Accountant Department |
|
Contact No.: |
91-22-22610570 |
|
Date : |
06.09.2013 |
LOCATIONS
|
Registered Office : |
Darabshaw House, Level 1, Narottam Morarji Road, Ballard Estate,
Mumbai – 400038, Maharashtra, India |
|
Tel. No.: |
91-22-22610570/ 22610566 / 22610590 |
|
Fax No.: |
91-22-22621405 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Operations Center, Shev, Navi Mumbai – 400707, Maharashtra, India |
|
Tel. No.: |
91-22-27243500 |
|
Fax No.: |
91-22-27243527 |
DIRECTORS
As on 02.07.2012
|
Name : |
Mr. Anil Satdev Singh |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Flat No.6, 5th Floor, Hill Park AG Bell Road, Malabar Hill,
Mumbai – 400006, Maharashtra India |
|
Date of Birth/Age : |
12.12.1954 |
|
Date of Appointment : |
15.12.2009 |
|
DIN No.: |
02728638 |
|
|
|
|
Name : |
Mr. Kevin James D Souza |
|
Designation : |
Director |
|
Address : |
1/3, Chokshi Mansion, Dr. B. Ambedkar Road, Parel, Mumbai – 400012,
Maharashtra, India |
|
Date of Birth/Age : |
21.08.1960 |
|
Date of Appointment : |
30.04.2008 |
|
DIN No.: |
00175176 |
|
|
|
|
Name : |
Mr. Devang Bhupendra Mankodi |
|
Designation : |
Director |
|
Address : |
7 Darpan Bhagat Singh Road, Juhu Vileparle, Juhu Vileparle (West),
Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1968 |
|
Date of Appointment : |
30.04.2008 |
|
DIN No.: |
00139006 |
|
PAN No.: |
AACPM7403M |
|
Voter ID No.: |
MT/08/038/0405730 |
|
|
|
|
Name : |
Mr. Anil Rajan Wats |
|
Designation : |
Director |
|
Address : |
Villa # 76 Street # 25C UMM Suqeim 1, United Arab Emirates, Dubai 1 |
|
Date of Birth/Age : |
13.04.1957 |
|
Date of Appointment : |
30.04.2008 |
|
DIN No.: |
00888308 |
|
|
|
|
Name : |
Mr. Ennarasu Karunesan |
|
Designation : |
Director |
|
Address : |
Block 1, 88 Rani Meyyammai Towers, MRC Nagar RA Puram, Chennai –
600028, Tamilnadu, India |
|
Date of Birth/Age : |
27.07.1966 |
|
Date of Appointment : |
22.07.2009 |
|
DIN No.: |
0020432 |
|
|
|
|
Name : |
Mr. Alpesh Abhay Sharma |
|
Designation : |
Director |
|
Address : |
401, Kohinoor-1, Opposite Millat Nagar, Oshiwara, Andheri (West),
Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1969 |
|
Date of Appointment : |
20.09.2011 |
|
DIN No.: |
03573036 |
|
PAN No.: |
BBRPS5992Q |
KEY EXECUTIVES
|
Name : |
Mr. Aparna Nakul Chablani |
|
Designation : |
Company Secretary |
|
Address : |
Plot No.10, 18-A, Khar – Danda, Khar (West), Mumbai – 400052,
Maharashtra, India |
|
Date of Birth/Age : |
31.03.1968 |
|
Date of Appointment : |
14.10.1999 |
|
PAN No.: |
AADPJ2412J |
|
|
|
|
Name : |
Mr. Murtuza |
|
Designation : |
Accountant Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
South Asia Ports Limited, Mauritius |
|
163910916 |
|
Anil Satdev Singh |
|
8 |
|
Total |
|
163910924 |
As on 02.07.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of developing, operating, marketing
and managing container handling and unit loading/ unloading facilities at
Jawaharlal Nehru Port. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institution : |
· Infrastructure Development Finance Company Limited, KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India ·
Infrastructure Development Finance Company
Limited, ITC
Centre, 3rd Floor, 760, Anna Salai, Chennai – 600002, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M. Joshi Marg,
Mahalaxmi, Mumbai - 400 011,
Maharashtra, India |
|
PAN No.: |
AAIFB0630K |
|
|
|
|
Holding Company : |
DP World, Limited |
|
|
|
|
Associate : |
· South Asia Ports Limited · Peninsular and Oriental Steam Naigation Company |
CAPITAL STRUCTURE
As on 02.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
163910924 |
Equity Shares |
Rs.10/- each |
Rs.1639.109
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 |
|
1639.109 |
1781.559 |
|
(b) Reserves & Surplus |
|
2175.673 |
2586.503 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
3814.782 |
4368.062 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
850.000 |
1375.000 |
|
(b) Deferred tax liabilities (Net) |
|
566.690 |
718.049 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
6.189 |
5.731 |
|
Total Non-current Liabilities (3) |
|
1422.879 |
2098.780 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
12.344 |
|
(b) Trade payables |
|
483.487 |
313.490 |
|
(c) Other current liabilities |
|
1323.472 |
1195.544 |
|
(d) Short-term provisions |
|
14.268 |
160.413 |
|
Total Current Liabilities (4) |
|
1821.227 |
1681.791 |
|
|
|
|
|
|
TOTAL |
|
7058.888 |
8148.633 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
3428.876 |
4105.863 |
|
(ii) Intangible Assets |
|
36.600 |
45.517 |
|
(iii) Capital
work-in-progress |
|
1.248 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.470 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
30.457 |
11.434 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
405.464 |
627.149 |
|
Total Non-Current Assets |
|
3903.115 |
4789.963 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
59.323 |
77.392 |
|
(c) Trade receivables |
|
134.537 |
102.229 |
|
(d) Cash and cash
equivalents |
|
2460.705 |
2968.780 |
|
(e) Short-term loans and
advances |
|
298.738 |
106.515 |
|
(f) Other current assets |
|
202.470 |
103.754 |
|
Total Current Assets |
|
3155.773 |
3358.670 |
|
|
|
|
|
|
TOTAL |
|
7058.888 |
8148.633 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2094.249 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3137.160 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5231.409 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
975.000 |
|
|
2] Unsecured Loans |
|
|
589.303 |
|
|
TOTAL BORROWING |
|
|
1564.303 |
|
|
DEFERRED TAX LIABILITIES |
|
|
741.044 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7536.756 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4808.811 |
|
|
Capital work-in-progress |
|
|
20.922 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1530.200 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
69.739 |
|
|
Sundry Debtors |
|
|
123.485 |
|
|
Cash & Bank Balances |
|
|
22.324 |
|
|
Other Current Assets |
|
|
59.221 |
|
|
Loans & Advances |
|
|
2123.347 |
|
Total
Current Assets |
|
|
2398.116 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
322.858 |
|
|
Other Current Liabilities |
|
|
745.672 |
|
|
Provisions |
|
|
152.763 |
|
Total
Current Liabilities |
|
|
1221.293 |
|
|
Net Current Assets |
|
|
1176.823 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7536.756 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5638.759 |
5676.627 |
5279.067 |
|
|
|
Other Income |
NA |
NA |
327.239 |
|
|
|
TOTAL |
NA |
NA |
5606.306 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
4882.530 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
4882.530 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
723.776 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
(171.027) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
402.559 |
384.289 |
894.803 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4957.095 |
4999.140 |
4736.934 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spares and Consumed |
NA |
27.111 |
17.879 |
|
|
|
Capital Goods |
NA |
31.332 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
58.443 |
17.879 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.46 |
1.94 |
5.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
15.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
13.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
10.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.22
|
0.32
|
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
2.00
|
1.96 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Current maturities of long-term debt |
525.000 |
425.000 |
NA |
|
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 |
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 |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
|
LITIGATION DETAILS |
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Bench:- Bombay |
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Stamp No:- |
FAST/15483/2009 |
Failing Date:- |
03/07/2009 |
Reg. No.:- |
FA/1687/2010 |
Reg. Date:- |
12/11/2010 |
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Petitioner:- |
THE NEW INDIA ASSURANCE COMPANY LIMITED |
Respondent:- |
NHAVA SHEVA INTERNATIONAL CONTAINER TERMINAL PRIVATE LIMITED |
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Petn.Adv:- |
MR. D.R. MAHADIK |
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District:- |
THANE |
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Bench:- |
Single |
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Status:- |
Admitted (Unready) |
Stage:- |
For Admission-Fresh |
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Last Date:- |
24/11/2010 |
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Last Coram:- |
Non’ble Shri Justice A.S. OKA |
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Act:- |
Workmen’s Compensation Act |
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BACKGROUND
Subject was incorporated on 21 March 1997 under the Companies Act, 1956.
Effective 3 July 1997, the Company entered into a 30 year license agreement with Jawaharlal Nehru Port Trust (JNPT) to engage in the business of developing, operating, marketing and managing container handling and unit loading/unloading facilities at Jawaharlal Nehru Port.
PERFORMANCE
Company has recorded revenue from operations of Rs.5638.759 Millions and a profit after tax of Rs.402.559 Millions for 12 months period ended 31st, March, 2012 as against revenue of Rs.5676.627 Millions and profit after tax of Rs.384.285 Millions for the previous period ended 31st, March 2011. The Balance in the Profit and Loss account of Rs.1287.908 Millions is being carried forward to the next year.
FUTURE PERSPECTIVE
Company expects that the EXIM Trade will further improve and this will boost the business prospects. Company is gearing up to meet new challenges and is continuously striving to improve efficiencies. Company is confident that it shall meet the targets it has set for itself.
FINANCE
During the period Company has not raised any long term loan for working capital purpose and neither Company has created a mortgage on its movable and non movable assets. Company parked short term surpluses with liquid mutual funds to maximize the return on inflows from operations. Company continued with the arrangement of pooling of funds to give loan to group companies and effectively earn interest on the entire funds lying in its account.
The Company’s tariff is governed by the tariff orders passed by Tariff Authority for Major Ports (TAMP). TAMP passed an order on February 14, 2012 reducing the Company’s tariff by 27.85% effective March 16, 2012, resulting in Company incurring cash loss on certain operational activities and Company incurring business losses. Company has taken up this matter with the various government authorities and also initiated various legal proceedings challenging the tariff order. Presently the matter is pending before the High Court(s) and Company has been advised by its lawyers that whilst the outcome of the legal proceedings is uncertain, Company has a reasonable chance of the Bombay High Court evaluating the issues raised at the pre-admission stage and if the said Court feels that the issues raised in the Writ Petition need to be examined and therefore admits the Writ Petition, balance of convenience would necessitate that the said Court either stays the operation of the Order or alternatively establishes a mechanism where NSICT is required to secure the difference in tariff calculated between the earlier tariff order and the Order. The Company’s auditors have relied on the Management’s contentions and the legal opinion and accordingly these financial statements do not include an impact of any adjustments regarding the impairment of the carrying amount of fixed assets and consequential potential impact on the MAT credit recognized.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
12.344 |
|
Total |
0.000 |
12.344 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10259363 |
08/12/2010 |
1,000,000,000.00 |
INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED |
KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI - 600031, TAMILNADU, INDIA |
B02379915 |
|
2 |
10207416 |
26/02/2010 |
987,500,000.00 |
INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED |
ITC CENTRE, 3RD FLOOR, 760, ANNA SALAI, CHENNAI – 600002, TAMILNADU, INDIA |
A81115529 |
* Date of charge modification
FIXED ASSETS:
· Building
· Plant and Machinery
· Furniture and Fittings
· Office Equipment
· Computers
· Vehicles
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.65.96 |
|
|
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.