MIRA INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
METRO-LINK EXPRESS
FOR GANDHINAGAR AND AHMEDABAD (MEGA) COMPANY LIMITED |
|
|
|
|
Registered
Office : |
5th
Floor, Nirman Bhavan, Opposite New Sachivalaya, Gate No.4, ‘CH’ Road, Sector
10/A, Gandhinagar – 382 010, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.02.2010 |
|
|
|
|
Com. Reg. No.: |
04-059407 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3775.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60200GJ2010SGC059407 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM3807N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject's main object is to
undertake and carry on the business as nodal agency and / or Commissioning
Authority for Mass Rapid Transport System by establishing Metro-Link between
Gandhinagar and Ahmedabad and in and around and its expansion in the State of
Gujarat. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 21502000 |
|
|
|
|
Status : |
Project under implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during 4th February,
2010. The project of the company is still under implementation. The company has incurred huge pre-operative expenses during financial
year 2013, which resulting into accumulated losses recorded by the company. As per the status in the registrar of companies business appears to be
active. Payment terms are unknown. The company can be considering for business dealing with some caution.
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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-cooperative
(Tel. No.: 91-79-23248572)
LOCATIONS
|
Registered Office : |
5th
Floor, Nirman Bhavan, Opposite New Sachivalaya, Gate No.4, ‘CH’ Road, Sector
10/A, Gandhinagar – 382 010, Gujarat, India |
|
Tel. No.: |
91-79-23248572/ 26800000 |
|
Fax No.: |
91-79-23248573 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
802, 803, 8th Floor, GNFC Info Tower, Sarkhej-Gandhinagar Highway,
Bodakdev, Ahmedabad – 380 054, Gujarat, India |
|
Tel. No.: |
91-79-26859765/ 26800000 |
|
Fax No.: |
91-79-26859766 |
DIRECTORS
AS ON 21.01.2013
|
Name : |
Mr. Arvind Kumar Sharma, IAS |
|
Designation : |
Director |
|
Address : |
F-3, Samarpan Flat, Gulbai Tekra, Ahmedabad – 380 006,
Gujarat, India |
|
Date of Birth/Age : |
11.07.1962 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
04.02.2010 |
|
DIN No.: |
01312673 |
|
|
|
|
Name : |
Mr. Indrajeet Prasad Gautam, IAS |
|
Designation : |
Director |
|
Address : |
K-201, Sector - 19, Gandhinagar – 382 019, Gujarat, India |
|
Date of Birth/Age : |
02.04.1953 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00260908 |
|
|
|
|
Name : |
Aparna Subramani |
|
Designation : |
Director |
|
Address : |
Bunglow No.K-134, Sector 19, Gandhinagar – 382 019, Gujarat,
India |
|
Date of Birth/Age : |
14.10.1963 |
|
Date of Appointment : |
04.03.2014 |
|
DIN No.: |
03631971 |
|
|
|
|
Name : |
Mr. Anil Gopishankar Mukim |
|
Designation : |
Director |
|
Address : |
A 5/1, Sector 13, R.K. Puram, New Delhi – 110 022, India |
|
Date of Birth/Age : |
15.08.1960 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
02842064 |
|
|
|
|
Name : |
Mr. Vijay Ramchandra Nehra |
|
Designation : |
Director |
|
Address : |
Bunglow No.10, Collector Bunglow, Dafnala, Shahibaug, Ahmedabad – 380
004, Gujarat, India |
|
Date of Birth/Age : |
06.07.1975 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
05118716 |
|
|
|
|
Name : |
Dr. Manjula Subramaniam |
|
Designation : |
Director |
|
Address : |
K-504, Sector 20, Gandhinagar, Gandhinagar – 382 020, Gujarat,
India |
|
Date of Birth/Age : |
19.09.1948 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00085783 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.01.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hon. Governor of
Gujarat, represented by Indrajeet Prasad Bhikhi Gautam, IAS |
|
10 |
|
Hon. Governor of Gujarat,
represented by Kanubhai Dahyabhai Suthar |
|
10 |
|
Hon. Governor of
Gujarat, represented by Arvind Kumar Sharma, IAS |
|
10 |
|
Hon. Governor of
Gujarat, represented by Guruprasad Mohapatra, IAS |
|
10 |
|
Hon. Governor of Gujarat,
represented by Syed Jawaid Haider, IAS |
|
10 |
|
Hon. Governor of
Gujarat, represented by Mamta Verma, IAS |
|
10 |
|
Hon. Governor of
Gujarat, represented by Mukesh Rajnikant Shah |
|
10 |
|
Hon. Governor of
Gujarat, India |
|
89999930 |
|
Total |
|
90000000 |
AS ON 24.02.2014
|
Names of Allottee |
|
No. of Shares |
|
The Governor of
Gujarat, India |
|
150000000 |
|
Total |
|
150000000 |
AS ON 19.12.2013
|
Names of Allottee |
|
No. of Shares |
|
The Governor of
Gujarat, India |
|
100000000 |
|
Total |
|
100000000 |
AS ON 27.09.2013
|
Names of Allottee |
|
No. of Shares |
|
The Governor of
Gujarat, India |
|
172500000 |
|
Total |
|
172500000 |
AS ON 21.01.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Government [Central and State(s)] |
|
100.00 |
%20COMPANY%20LIMITED%20-%20264896_MIRA%2028-Apr-2014_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject's main object is
to undertake and carry on the business as nodal agency and / or Commissioning
Authority for Mass Rapid Transport System by establishing Metro-Link between
Gandhinagar and Ahmedabad and in and around and its expansion in the State of
Gujarat. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kantilal Patel and Company Chartered Accountants |
|
Address : |
202,
"Paritosh", Usmanpura (River Front), Ahmedabad – 380 013, Gujarat,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK3532D |
CAPITAL STRUCTURE
AFTER 21.01.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800000000 |
Equity Shares |
Rs.10/- each |
Rs.8000.000
millions |
|
|
|
|
|
AS ON 21.01.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs.900.000
millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
377500000 |
Equity Shares |
Rs.10/- each |
Rs.3775.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3775.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
(124.476) |
(28.197) |
(11.460) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
1725.000 |
400.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5375.524 |
471.803 |
88.540 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2501.670 |
0.487 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
2501.670 |
0.487 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
10.325 |
0.068 |
0.000 |
|
(b) Trade payables |
13.482 |
14.944 |
11.460 |
|
(c) Other current liabilities |
187.106 |
13.008 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
210.913 |
28.020 |
11.460 |
|
|
|
|
|
|
TOTAL |
8088.107 |
500.310 |
100.000 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
120.110 |
24.562 |
0.000 |
|
(ii) Intangible Assets |
13.114 |
8.135 |
0.000 |
|
(iii) Capital work-in-progress |
2119.480 |
86.830 |
0.000 |
|
(iv) Intangible assets under development or work-in-progress |
26.275 |
1.821 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
135.152 |
8.407 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2414.131 |
129.755 |
0.000 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
5666.758 |
368.366 |
0.000 |
|
(e) Short-term loans and advances |
2.110 |
1.123 |
0.000 |
|
(f) Other current assets |
5.108 |
1.066 |
100.000 |
|
Total
Current Assets |
5673.976 |
370.555 |
100.000 |
|
|
|
|
|
|
TOTAL |
8088.107 |
500.310 |
100.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from operations |
52.660 |
10.711 |
0.000 |
|
|
|
Other Income |
0.012 |
0.001 |
0.000 |
|
|
|
TOTAL (A) |
52.672 |
10.712 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
13.790 |
5.487 |
0.351 |
|
|
|
Other Expenses |
97.653 |
16.587 |
11.109 |
|
|
|
Prior
Period Items |
0.183 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
111.626 |
22.074 |
11.460 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(58.954) |
(11.362) |
(11.460) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
5.285 |
0.079 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(64.239) |
(11.441) |
(11.460) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.954 |
1.820 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(79.193) |
(13.261) |
(11.460) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.086 |
3.476 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(96.279) |
(16.737) |
(11.460) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.08) |
(1.67) |
(1.15) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(182.79)
|
(156.25) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(150.39)
|
(123.81) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.33)
|
(3.22) |
(11.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
(0.03) |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
26.90
|
13.22 |
8.73 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
100.000 |
100.000 |
3775.000 |
|
Reserves & Surplus |
(11.460) |
(28.197) |
(124.476) |
|
Share
Application money pending allotment |
0.000 |
400.000 |
1725.000 |
|
Net worth |
88.540 |
471.803 |
5375.524 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.487 |
2501.670 |
|
Short term borrowings |
0.000 |
0.068 |
10.325 |
|
Total borrowings |
0.000 |
0.555 |
2,511.995 |
|
Debt/Equity ratio |
0.000 |
0.001 |
0.467 |
%20COMPANY%20LIMITED%20-%20264896_MIRA%2028-Apr-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
0.000 |
10.711 |
52.660 |
|
|
|
391.644 |
%20COMPANY%20LIMITED%20-%20264896_MIRA%2028-Apr-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
0.000 |
10.711 |
52.660 |
|
Profit |
(11.460) |
(16.737) |
(96.279) |
|
|
|
(156.26%) |
(182.83%) |
%20COMPANY%20LIMITED%20-%20264896_MIRA%2028-Apr-2014_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 |
No |
|
10) Designation of contact person |
No |
|
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 |
No |
|
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 |
-- |
|
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 |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10438308 |
29/06/2013 |
10,000,000,000.00 |
PUNJAB NATIONAL BANK |
SHASTRY PARK, AHMEDABAD,
GUJARAT - 380015, INDIA |
B80234206 |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Other loans and advances |
1.670 |
0.487 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Other loans and advances |
10.325 |
0.068 |
|
Total
|
11.995 |
0.555 |
Note:
The registered office of the company has been shifted from B-Wing, 2nd
Floor, GSCSCL Building, "CH" Road, Sector 10/A, Gandhinagar – 382
010, Gujarat to the present w.e.f. 27.09.2011.
CORPORATE INFORMATION:
Subject domiciled in India
and incorporated under the provisions of the Companies Act 1956. The Company's
main object is to undertake and carry on the business as nodal agency and / or
Commissioning Authority for Mass Rapid Transport System by establishing
Metro-Link between Gandhinagar and Ahmedabad and in and around and its
expansion in the State of Gujarat.
FINANCIAL RESULTS:
The Company was
incorporated on 04th February, 2010. The Company has completed its
third Financial Year ended on 31.03.2013 with the aim to provide Mass Transit service
to the public for connecting important points between Ahmedabad and Gandhingar.
The project is at planning and execution stage. Therefore, there is no revenue
generation during the period ended on 31.03.2013. The Company has made
substantial progress towards the effective implementation of the Project.
BUSINESS OPERATION / ACTIVITIES:
The Company, being in the
business of a long term infrastructure project, during the period is yet to
start its business operation. The Company has a loss of Rs.96.300 millions on
account of administrative and project related expenses. The Company has also
incurred Rs.2119.500 millions towards Capital Work-in-Progress and Rs.159.500
millions towards Other Fixed Assets for speedy and effective Implementation of
the Project. The Directors are also continuously looking for avenues for future
growth of the Company in Metro Rail industry.
PROJECT PARAMETERS:
Metro rail connectivity
between Ahmedabad and Gandhinagar is an ambitious project envisaged by
Government of Gujarat. On the whole the Gandhinagar - Ahmedabad Metro Rail
Project is of 76 Km, Alignment connecting Ahmedabad - Gandhinagar city.
Government of Gujarat, vide
its GR dated 02.01.2012 has constituted a Monitoring Committee under the
Chairmanship of Chief Secretary, for effective implementation of the Project
and also a High Powered Committee under the Chairmanship of Hon. Minister,
Revenue Department, Gujarat for necessary guidance and for taking important
policy decisions. This GR for constitution of High Powered Committee was
further revised in March 2013, Hon'ble Minister, Finance as Chairman of the
Committee. The High Powered Committee has approved alignment of 76 Kms in its
meeting held on 07.06.2012 and notified on 22.09.2012. As per approval of
alignment, the company has carried out planning, survey, support infrastructure
activities such as designing of Casting Yard and Depot, Land Development
activity at the bank of the Sabarmati River, work related to Warehousing
Complex etc. to start construction as fast as possible.
Draft DPR was prepared by
the Company and submitted to the Government for approval which is under
consideration. The High Level Committee held on 17th July 2013 has
decided to implement the project in Phases and also decided to take routes
within Ahmedabad city in Phase -1. It is also decided to prepare DPR
accordingly which is being implemented by the Company.
FIXED ASSETS:
Tangible Assets
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Leasehold Improvements
·
Books Periodicals
Intangible Assets
·
Computer Software
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.61.12 |
|
UK Pound |
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.