MIRA INFORM REPORT
|
Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAMODAR VALLEY CORPORATION |
|
|
|
|
Registered
Office : |
DVC
Towers, Vip Road, Kolkata-700054, West Bengal |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.07.1948 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 52868.973 Millions |
|
|
|
|
Legal Form : |
Government Organization |
|
|
|
|
Line of Business
: |
Control of floods, provision of irrigation, generation, transmission
and distribution of electrical energy and also soil conservation, unified
tourism, fisheries, socio-economic and health development of villages |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 1235960000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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|
Comments : |
Subject is a multipurpose river project was set up as a statutory
corporation under a special act of parliament, Damodar Valley Corporation
Act, 1948 (DVC Act). The Government of India (GOI), the Government of West
Bengal (GOWB) and the Government of Bihar (GOB) jointly contributed to the
capital of the subject. The ratings draw strength from the strategic importance of Damodar
Valley Corporation which is an old and established body having a fine track
record. The financials of the corporation portray increase in external
borrowings and deficit in the income after tax. However, financial position
appears to be strong and healthy. Trade relations are fair. Business is
active. Payment terms are regular and as per commitments. In view of government support, the subject can be considered good for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
AA (Long Term Bond Issue) |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
20.01.2014 |
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
Management non co-operative (Tel No.:-91-3241-262287)
LOCATIONS
|
DVC
Headquarters : |
DVC
Towers, Vip Road, Kolkata-700054, West Bengal, India |
|
Tel. No.: |
91-33-23559940 |
|
Fax No.: |
91-33-23550585 |
|
Website : |
|
|
|
|
|
Maithon |
P.O Maithon Dam, District Dhanbad-828207, Jharkhand, India |
|
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|
Mejia
Thermal Power Station |
Durlavpur, P.O. MTPS, District Bankura– 722183, West Bengal, India |
|
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|
P.O: Durgapur, District Burdwan – 713207, West Bengal, India |
|
|
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|
Bokaro
Thermal Power Station |
District-Bokaro-829107, Jharkhand, India |
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Chandrapura
Thermal Power Station |
District-Bokaro-825303, Jharkhand, India |
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District-Burdwan, West Bengal, India |
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Koderma
Thermal Project |
District-Koderma, Jharkhand, India |
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Raghunathpur
Thermal Project |
District-Purulia, West Bengal, India |
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Panchet |
P.O Panchet, District Dhanbad, Jharkhand-828206, India |
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Tilaiya |
District Hazaribagh, Jharkhand– 825413 |
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Konar |
P.O Konar District. Hararibagh, Jharkhand, India |
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Bermo |
P.O. Bermo, District. Bokaro, Jharkhand,
India |
|
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|
Soil
Conservation Department |
District Hazaribagh, Jharkhand– 825301,
India |
|
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|
DVC NBCC
Towers, Hall No.03, Bikaji Kama Place, New Delhi-110066, India |
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DVC BNS
House,Main Road, PO-Hinoo, Ranchi – 834002, India |
|
|
|
|
Tilaiya |
District Hazaribagh, Jharkhand, Pin – 825413, India |
DIRECTOR
|
Name : |
Mr. Amar Nath Mishra |
|
Designation : |
Director (Opn. / Tech.) |
|
|
|
|
Name : |
Mr. B P Singh |
|
Designation : |
Director (Project) (Actg.) |
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|
|
|
Name : |
Mr. A Mallik |
|
Designation : |
Director (System) (Actg.) |
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|
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|
Name : |
Mr. A Baksi |
|
Designation : |
Director (HRD) |
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|
|
|
Name : |
Mr. T K Gupta |
|
Designation : |
Director (Accounts) |
KEY EXECUTIVES
|
CHIEF ENGINEER-ll(M/E/C/C and l/Comm) |
|
|
|
· Dr. Satya Narayan Sarkar -
CE-I (M), R and D. · Shri Dhrubesh Basu - CE-I(M), GPE, Kolkata · Shri Arun Kumar Das - CE-I(M), OS and U, Kolkata. · Shri Jitendra Kumar Singh - CE-I(M), RTPS · Shri Prabir Sen Roy - CE-I(M), DTPS · Shri Rameswar Basuri - CE-I(M), CTPS · Shri Ajit Prasad - CE-I(M), BTPS'A' · Shri Debashis Mitra - CE-I(M), MTPS · Shri Kashi Nath Singh - CE-I(M), Maithon · Shri SudhakarJha - CE-I(M), DTI, CTPS, Chandrapura · Shri Shyamal Kumar Bhattacharjee - CE-I(M), CSO, Maithon · Shri Girish Prasad Singh - CE-I(M), BTPS'B' · Shri Krishna Kumar Singh - CE-I(M), MHS, Maithon · Shri Chandreswar Choudhury - CE-I(M), Fuel, Kolkata · Shri Amitava Dasgupta - CE-I(E), Kolkata · Shri Ashok Kumar Jain - CE-I(E), Maithon · Shri Kaviraj Sahu - CE-I(E),Trans, Maithon · Shri Tapan Bandopadhyay - CE-I(E), TSC, Maithon · Shri Amitava Nayak - CE-I(E),CLD, Maithon · Shri Prasanta Kumar Das - CE-I(E),CMM, Kolkata · Shri Prabir Kumar Choudhury - CE-I(E), Commercial, Kolkata · Shri Narendra Singh Khamesra - CE-I(E), Maithon. · Md Mustaque Ahmed -
CE-I(E), CTC, Maithon · Shri Birendra Kr. Singh - CE-I(E), REP, Ranchi · Shri Siddheswar Prasad Verma - CE-I(C) Maithon · Shri Pallav Roy - CE-I(C) Additional Secretary, Kolkata · Shri Dipak Kumar Dutta - CE-I(Commercial), Kolkata · Shri Panna Lai Saha - CE-I (C and l), Kolkata. |
BUSINESS DETAILS
|
Line of Business : |
Control of floods, provision of irrigation, generation, transmission
and distribution of electrical energy and also soil conservation, unified
tourism, fisheries, socio-economic and health development of villages |
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Comptroller and Auditor General of India Chartered Accountant |
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|
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|
Joint Venture Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
CAPITAL ACCOUNT
|
PARTICULARS |
POWER |
IRRIGATION |
FLOOD CONTROL |
TOTAL |
|
Central Government |
18136.667 |
0.000 |
70.000 |
18206.667 |
|
W B Government |
14866.895 |
1855.229 |
124.668 |
16846.792 |
|
Bihar Government |
17812.851 |
2.663 |
0.000 |
17815.514 |
|
TOTAL |
52868.973 |
|||
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
52868.973 |
50204.403 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
256123.343 |
249812.171 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
308992.316 |
300016.574 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
188958.636 |
167403.791 |
|
|
2] Unsecured Loans |
|
37156.302 |
22017.816 |
|
|
TOTAL BORROWING |
|
226114.938 |
189421.607 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
535107.254 |
489438.181 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
281744.475 |
231450.441 |
|
|
Capital work-in-progress |
|
203042.882 |
213613.227 |
|
|
Intangible Assets |
|
77.915 |
76.860 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
11742.887 |
12490.868 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
7283.636 |
7096.202 |
|
|
Sundry Debtors |
|
60775.694 |
42612.860 |
|
|
Cash & Bank Balances |
|
540.138 |
5523.815 |
|
|
Other Current Assets |
|
17516.263 |
11939.446 |
|
|
Loans & Advances |
|
5007.542 |
5127.779 |
|
Total
Current Assets |
|
91123.273 |
72300.102 |
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
12581.586 |
7187.958 |
|
|
Other Current Liabilities |
|
36057.152 |
30896.944 |
|
|
Provisions |
|
4358.769 |
3391.915 |
|
Total
Current Liabilities |
|
52997.507 |
41476.817 |
|
|
Net Current Assets |
|
38125.766 |
30823.285 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
326.697 |
876.762 |
|
|
Provident Fund |
|
46.632 |
106.738 |
|
|
|
|
|
|
|
|
TOTAL |
|
535107.254 |
489438.181 |
|
PROFIT & LOSS
ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
74359.184 |
56355.948 |
|
|
|
Rental and Wheeling |
|
48.820 |
50.238 |
|
|
|
Misc Direct Schemes |
|
915.712 |
467.609 |
|
|
|
Misc Shares of Dams and Subs. Activities |
|
5.650 |
10.931 |
|
|
|
Dividend Income from PTC and BPSCL |
|
28.528 |
25.528 |
|
|
|
Interest Income from STD |
|
2.029 |
13.685 |
|
|
|
Interest on State Bonds |
|
653.484 |
791.060 |
|
|
|
TOTAL (A) |
|
76013.407 |
57714.999 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operation and Maintenance |
|
49083.658 |
38942.856 |
|
|
|
Purchase of Power |
|
8273.972 |
6373.254 |
|
|
|
Transmission and Distribution Charges |
|
890.405 |
852.307 |
|
|
|
Direction and Central Services |
|
254.647 |
234.503 |
|
|
|
Share of Subsidiary activities |
|
180.575 |
300.794 |
|
|
|
General Overhead Charges |
|
1588.613 |
395.868 |
|
|
|
TOTAL (B) |
|
60271.870 |
47099.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
15741.537 |
10615.417 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
8712.374 |
5976.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
7029.163 |
4638.952 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6134.128 |
3452.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
895.035 |
1186.807 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
984.166 |
181.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(89.131) |
1005.755 |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
50,204.403 |
52,868.973 |
|
Reserves & Surplus |
249,812.171 |
256,123.343 |
|
Net
worth |
300,016.574 |
308,992.316 |
|
|
|
|
|
Secured Loans |
167,403.791 |
188,958.636 |
|
Unsecured Loans |
22,017.816 |
37,156.302 |
|
Total
borrowings |
189,421.607 |
226,114.938 |
|
Debt/Equity
ratio |
0.631 |
0.732 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
56,355.948 |
74,359.184 |
|
|
|
31.946 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
56,355.948 |
74,359.184 |
|
Profit |
1,005.755 |
(89.131) |
|
|
1.78% |
(0.12)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CASE DETAILS
Case
Status : Pending
|
Status of APPEAL FROM ORDER (APO) 91 of 2014 REGAL INGOT PVT LTD Vs. DAMODAR VALLEY CORPORATION Pet's Adv. : M/S. K . L . YADAV AND CO Res's Adv. : Court No. : 12 Last Listed On : Tuesday, March 18, 2014 Category : NO CATEGORY MENTIONED |
|
|
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Bonds |
|
|
|
Guaranteed By Government of India
|
0.000 |
500.000 |
|
Public Sector |
6880.000 |
7240.000 |
|
Other Loan |
|
|
|
Short Term Bridge Loan |
8000.000 |
5000.000 |
|
Short Term Bank Borrowings |
22000.000 |
9000.000 |
|
Loan From GOI for RVP Scheme |
43.750 |
45.000 |
|
Exim Bank Loan |
232.552 |
232.816 |
|
|
|
|
|
TOTAL |
37156.302 |
22017.816 |
FIXED ASSETS
- Land
- Building
- Roads Bridge
and Railway Siding
- Dams and
Spill Way
- Barrage and
Barrage Gates
- Canals and
Service Road
- Machinery and
Equipment
- Switch Gear
- Tower, Poles
and Fixtures
- Construction
Equipment
- Other Assets
- Power House
Plant and Machinery
WEBSITE DETAILS
FORMATION
DVC, a legacy to the people of India, emerged as a culmination of attempts made
over a whole century to control the wild and erratic Damodar river. The river
spans over an area of 25,000 sq. kms covering the states of Bihar (now
Jharkhand) and West Bengal.
The Damodar Valley has been ravaged frequently by floods of varying intensities
and the first of the major recorded flood dates back to 1730. Thereafter
serious floods occurred at regular intervals, but it was the flood of 1943 that
left the worst devastation in its wake. As a result, the Governor of Bengal
appointed a Board of Inquiry headed by the Maharaja of Burdwan and the noted
physicist Dr. Meghnad Saha as member. In their report, the Board suggested
creation of an authority similar to the Tennessee Valley Authority (TVA) of
United States of America. The Government of India then appointed Mr. W.L.
Voorduin, a senior engineer of the TVA to make recommendations for
comprehensive development of the valley. Accordingly, in August, 1944, Mr.
Voorduin submitted his "Preliminary Memorandum on the Unified Development
of the Damodar River".
Mr. Voorduin’s "Preliminary Memorandum" suggested a multipurpose
development plan designed for achieving flood control, irrigation, power
generation and navigation in the Damodar Valley. Four consultants appointed by
the Government of India examined it. They also approved the main technical
features of Voorduin’s scheme and recommended early initiation of construction
beginning with Tilaiya to be followed by Maithon.
By April 1947, full agreement was practically reached between the three
Governments of Central, Bengal and Bihar on the implementation of the scheme
and in March 1948, the Damodar Valley Corporation Act (Act No. XIV of 1948) was
passed by the Central Legislature, requiring the three governments – the Central
Government and the State Governments of West Bengal and Bihar (now Jharkhand)
to participate jointly for the purpose of building the Damodar Valley
Corporation.
The Corporation came into existence on 7th July, 1948 as the first multipurpose
river valley project of independent India.
NEWS
DAMODAR VALLEY CORPORATION 'S HYDEL UNIT LIKELY IN HAZARIBAG
HAZARIBAG: Damodar Valley
Corporation (DVC) is weighing the option of setting up of a hydel power station
at Bishungarh on the lines of Telaiya and Maithon units.
R N Sen, the chairman of DVC,
visited visited the site of Konar dam, which was built by DVC in 1958, and
explored the possibility of setting up of the power unit.
Villagers of Bishungarh had
approached the chairman with the request to set up the hydel power unit. They
are even willing to give their land to DVC.
However, Sen on Tuesday informed the
group of villagers that once funds are made available to the company, the
proposal to set up the power station on Konar dam would be taken up.
DVC has already taken up the
proposal with the World Bank, which is expected to release funds for the same.
The memorandum that the villagers
handed over to Sen demanded that the Konar dam and its surrounding areas be
developed as a tourist complex so that local people can get an opportunity for
self-employment.
The villagers had also demanded
increase in SIP fund and water from Konar dam for irrigation and household
purposes.
They had also demanded registration
of DVC High School in Konar under the Jharkhand Academic Council for the
benefit of the teachers and students.
Due to non-recognition of the DVC
High School, it suffered funds problem and lacked infrastructure. The
villagers' delegation was led by the president of the Visthapit Sanghars
Samittee president Dineshwar Mandal. It may be mentioned here that prior to the
visit of the present Chairman of DVC at Konar no other Chairman visited the
place during last 16 years.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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. 60.32 |
|
|
1 |
Rs. 100.03 |
|
Euro |
1 |
Rs. 82.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
68 |
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.