MIRA INFORM REPORT

 

 

Report Date :

29.04.2014

 

IDENTIFICATION DETAILS

 

Name :

JHARKHAND STATE ELECTRICITY BOARD

 

 

Registered Office :

Engineering Building, HEC, Dhurwa, Ranchi - 834004, Jharkhand

 

 

Country :

India

 

 

Date of Incorporation :

10.01.2001

 

 

Legal Form :

Government of Jharkhand enterprise

 

 

Line of Business :

Generation and distribution of electrical power in the state of Jharkhand.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a state Government of India having a satisfactory track record.

 

Mr. Alok Sharan (Finance Director) has informed that from 6th January, 2014 “Jharkhand State Electricity Board” has divided into 4 Parts:

 

Holding company: Jharkhand Urja Vikas Nigam Limited.

 

Subsidiary companies: Jharkhand Bijli Vitran Nigam Limited

                                     Jharkhand Urja Sancharan Nigam Limited

                                     Jharkhand Urja Utpadan Nigam Limited

 

Trade relations are fair. Business is active. Payments are reported to be usually correct and as per commitment.

 

The subject can be considered for normal business dealings 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.

 

ECGC Country Risk Classification List – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

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

 

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 PARTED BY

 

Name :

Mr. Alok Sharan

Designation :

Finance Director

Contact No.:

91-651-2400805

Date :

04.04.2014

 

 

LOCATIONS

 

Registered Office :

Engineering Building, HEC, Dhurwa, Ranchi - 834004, Jharkhand, India

Tel. No.:

91-651-2400805 / 807 / 908

Fax No.:

Not Available

E-Mail :

alok.sharan63@gmail.com

Website :

http://www.jseb.in

 

 

MANAGEMENT

 

 

Name :

Mr. S. N. Verma

Designation :

Chairman

 

 

Name :

Mr. Alok Sharan

Designation :

Member (Finance)

 

 

Name :

Mr. C. D. Kumar

Designation :

Member (D & T)

 

 

Name :

Mr. Anurag Gupta

Designation :

I.G. (Vig. & Sec.)

 

 

Name :

Mr. V. K. Sinha

Designation :

Secretary

 

 

Name :

Mr. G. N. S. Munda

Designation :

Engineer-in-Chief

 

 

Name :

Mr. Siyawar Singh

Designation :

Chief Engineer (Store &Purchase)

 

 

Name :

Mr. Ashok Kumar

Designation :

Chief Engineer (S&D)

 

 

Name :

Mr. Anjani kumar

Designation :

Chief Engineer (Project)

 

 

Name :

Mr. S. C. Mishra

Designation :

Chief Engineer (C&R)

 

 

Name :

Mr. A. P. Singh

Designation :

Chief Engineer (APDRP)

 

 

Name :

Mr. M. C. Karan

Designation :

GM (Co-ordination)

 

 

Name :

Mr. D. N. Ram

Designation :

Chief Engineer (Gen)

 

 

Name :

Mr. R. N. Tiwari

Designation :

Chief Engineer (Trans.)

 

 

Name :

Mr. R. A. Choudhary

Designation :

Chief Engineer Trans. (O&M)

 

 

Name :

Mr. Fagu Besra

Designation :

Chief Engineer (Planning)

 

 

Name :

Mr. Ramesh Thakur

Designation :

Chief Engineer (RE)

 

 

Name :

Mr. K. Prasad

Designation :

Chief Engineer (Training)

 

 

Name :

Mr. K. K. Singh

Designation :

Chief Engineer (Civil)

 

 

Name :

Mr. Amit Banerjee

Designation :

Financial Controller

 

 

Name :

Mr. V. P. Dubey

Designation :

Financial Controller-II, Finance/ Revenue

 

 

Name :

Mr. Pramod Kumar

Designation :

FC-II, Audit/ RE Plan

 

 

Name :

Mr. Madhup Kumar

Designation :

FC-II, Accounts/ Material Management

 

 

Name :

Mr. Theophil Kullu

Designation :

DA (RE/ Plan)

 

 

Name :

Mr. L. N. Jha

Designation :

Director Personnel

 

 

Name :

Mr. Sanjay Kumar

Designation :

DDP

 

 

Name :

Mr. Govind Yadav

Designation :

DDP (HR)

 

 

Name :

Mr. P. K. Mr.vastava

Designation :

Joint Secretary-I/ DPR

 

 

Name :

M. C. Jain

Designation :

Joint Secretary-II

 

 

Name :

Mr. Rakesh Roshan

Designation :

Joint Secretary-III

 

 

Name :

Mr. A. K. Mr.vastava

Designation :

DY. L.A.

 

 

 

GM-CUM-CE WITH CONCERN ESE

 

 

Name :

Mr. K. K. Verma

Designation :

GM-cum-CE

 

 

Name :

Mr. Ram Janam Singh

Designation :

ESE

 

 

Name :

Mr. S. N. Prasad

Designation :

ESE

 

 

Name :

Mr. Vikrama Ram

Designation :

GM-cum-CE

 

 

Name :

Mr. Ramanand Raman

Designation :

ESE

 

 

Name :

Mr. Ram Udgaar Mahto

Designation :

ESE

 

 

Name :

Mr. P. R. Ranjan

Designation :

GM-cum-CE

 

 

Name :

Mr. R. V. Mishra

Designation :

ESE

 

 

Name :

Mr. Dhanesh Jha

Designation :

ESE

 

 

Name :

Mr. Dhirendra Trivedi

Designation :

ESE

 

 

Name :

Mr. Om Prakash Ambestha

Designation :

GM-cum-CE

 

 

Name :

Mr. Anirudh Prasad

Designation :

ESE

 

 

Name :

Mr. Naresh Prasad Sinha

Designation :

ESE

 

 

Name :

Mr. Ram Jatan Prasad Singh

Designation :

GM-cum-CE

 

 

Name :

Mr. S. C. Thakur

Designation :

ESE

 

 

Name :

Mr. A. N. Mishra

Designation :

ESE

 

 

Name :

Mr. Subhash Kumar Singh

Designation :

GM-cum-CE

 

 

Name :

Mr. Anil Kumar Singh

Designation :

ESE

 

 

Name :

Mr. K. B. Sinha

Designation :

ESE

 

 

Name :

Mr. R. A. Choudhary

Designation :

GM-cum-CE

 

 

Name :

Mr. U. S. Rai

Designation :

ESE

 

 

Name :

Mr. Jai Shankar Singh

Designation :

GM-cum-CE

 

 

Name :

Mr. Shekar Sinha

Designation :

ESE

 

 

Name :

Mr. Arun Kumar Jha 

Designation :

ESE

 

 

Name :

Mr. D. K. Chourasia 

Designation :

GM-cum-CE

 

 

Name :

Mr. D. K. Chourasia 

Designation :

ESE

 

 

Name :

Mr. Subhash Mishra 

Designation :

ESE

 

 

Name :

Mr. Sudhanshu Kumar 

Designation :

GM

 

 

Name :

Mr. B. K. Choudhary 

Designation :

Project Manager

 

 

 

ELECTRICAL SUPERITENDING ENGINEER

 

 

Name :

Mr. Ram Janam Singh

Designation :

ESE

 

 

Name :

Mr. S. N. Prasad 

Designation :

ESE

 

 

Name :

Mr. R. N. Raman 

Designation :

ESE

 

 

Name :

Mr. Ram Udgaar Mahto 

Designation :

ESE

 

 

Name :

Mr. Anil Kumar Singh 

Designation :

ESE

 

 

Name :

Mr. K. B. Sinha 

Designation :

ESE

 

 

Name :

Mr. S. C. Thakur 

Designation :

ESE

 

 

Name :

Mr. A. N. Mishra 

Designation :

ESE

 

 

Name :

Mr. R. V. Mishra

Designation :

ESE

 

 

Name :

Mr. Dhanesh Jha 

Designation :

ESE

 

 

Name :

Mr. Dhirendra Trivedi 

Designation :

ESE

 

 

Name :

Mr. Anirudh Prasad Singh 

Designation :

ESE

 

 

Name :

Mr. Naresh Prasad Sinha

Designation :

ESE

 

 

Name :

Mr. U. S. Rai

Designation :

ESE

 

 

Name :

Mr. Shekar Sinha 

Designation :

ESE

 

 

Name :

Mr. Arun Kumar Jha 

Designation :

ESE

 

 

Name :

Mr. D. K. Chourasia 

Designation :

ESE

 

 

Name :

Mr. Subhash Mishra 

Designation :

ESE

 

 

Name :

Shakeel Ahmed

 

 

ELECTRICAL EXECUTIVE ENGINEER

Mr. S. K. Kashyap

Mr. Gopal Manjhi

Mr. Rishi Nandan

Mr. Baban Prasad Sharma

Mr. Ajit Kumar

Mr. Sanjay Kumar

Mr. Anil Kumar Singh

Mr. Niranjan Toppo

Mr. Thakur Choudhary

Mr. Hari Kant Jha

Mr. Samir Munda

Mr. Dharamdeo Ram

Mr. Hawaldar Ram

Mr. Indradeo Choudhary

Mr. Patosh Kumar

Mr. Sunil Kumar

Mr. Ashok Kumar No. 3

Mr. Rakesh Kumar

Mr. Harendra Kr. Singh

Mr. R Mehra

Mr. Soma Aind

Mr. Mukul Kumar Gorwar

Mr. Dinesh Kumar Singh

Mr. Gopal Chandra Shit

Mr. P. K. Choudhary

Mr. Sudhir Kumar Singh

Mr. B. C. Paul

Mr. Sudhanshu

Mr. Ram Krishna Prasad

Mr. K. K. Paswan

Mr. Satyendra Prasad

Mr. Krishana Prasad

Mr. R. S. Ram

Mr. Ashok Kumar Sinha

Mr. Manoj Kumar Jha

Mr. Rajesh Kumar

Mr. Umesh Das

Mr. Mantosh Mani Singh

Mr. Vijay Kumar

Mr. U. S. Rai

           

 

BUSINESS DETAILS

 

Line of Business :

Generation and distribution of electrical power in the state of Jharkhand.

 

 

GENERAL INFORMATION

 

Holding company:

·         Jharkhand Urja Vikas Nigam Limited

 

 

Subsidiary companies:

·         Jharkhand Bijli Vitran Nigam Limited

·         Jharkhand Urja Sancharan Nigam Limited

·         Jharkhand Urja Utpadan Nigam Limited

 

 

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

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

No

12]

Profitability for last three years

No

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

No

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

No

21]

Market information

--

22]

Litigations that the firm / promoter involved in

--

23]

Banking Details

No

24]

Banking facility details

No

25]

Conduct of the banking account

--

26]

Buyer visit details

--

27]

Financials, if provided

No

28]

Incorporation details, if applicable

No

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

No

 

WEBSITE DERAILS

 

Subject with the optimum utilization of available resources, is poised to bring turn-around in near future. It is going ahead with all corners equally energized and activated. Flagship Schemes like RGGVY and RAPDRP are running on fast track. Hopefully the schemes will be completed on scheduled time. Around 67% of villages have been electrified so far and the work in the balance villages have been taken up on war footing. The board is equipped with Telemetering centralized at HQ, monitoring around 1700 HT and LTIS consumers round the clock and a dedicated Anti-Power Theft team is ready round the clock to book the consumers indulged in theft/pilferage of energy. It has resulted into a sharp decline of T and D losses. In turn revenue realization of the Board has shown a rising trend from Rs. 1470.000 millions to Rs. 2000.000 millions per month. The Board is also inducting rural and urban franchisee in its area of operation. Spot billing has been introduced in two major cities i.e. Ranchi and Jamshedpur of the state where the consumers are availing monthly bills at door. As a pilot project, 10 nos. of ATP (Any Time Payment) machines have been installed in these two major cities to facilitate the consumers to deposit their billed amount. The maintenance of lines, distribution transformers and power transformers have been taken up in routine way, thereby putting a check over rate of burning of transformers.


The Board is preparing its store inventory and intends to keep all maintenance material like fuse wire, conductors, distribution transformers etc. in its divisional stores as spare stock so that the burnt transformers can be replaced within 24 hrs. Conclusively the JSEB is heading towards efficient board, ready to accept any challenges and stand up to the expectations of its consumers.

 

CORPORATE INFORMATION

 

Jharkhand State Electricity Board On 15th Nov, 2000 the Land of Lord Birsa Munda emerged as a new State which named as Jharkhand, which filed up the inhabitants of the state with great Joy. Since independence, the people of Jharkhand who are residing in remote places had not seen the light of civilization which actually comes through the new Carrier "Electricity". Immediately after the new state was constituted on 10th Jan, 2001 the state of Jharkhand announced constitution, of Jharkhand State Electricity Board to take up all activities for electrification of the whole state. On 16th Mar, 2001 the Government of Jharkhand appointed the Chairman and member of Jharkhand State Electricity Board and the first Board took up its work with great enthusiasm.

 

On 22.03.2001 the Ministry of Power, Government of India permitted the new Board to be functional w.e.f. 01.04.2001. Since this new Board was carved out from existing Bihar State Electricity Board on the Ministry of Power Government of India allowed its officers and employees who were working in the territorial jurisdiction of Jharkhand to be the employees and officers of Jharkhand State Electricity Board as is where basis. Since that day all officers and employees are giving themselves for every cause of the new state which is required for development of the state in the area of Electricity. The new Board inherited the age old thermal generation Power Station at Patratu which had already outlived its life and another generating station at Sikidiri known as Swarnrekha Hydel Project. So far Distribution infrastructure is concerned, though there was distribution infrastructure in few industrial areas, but those were not capable to bear the ever growing demand of electricity. Mentionable that after creation of new state, demand of electricity in every town and specially in capital city Ranchi increased many folds, and to meet the supply the new Board took it positively as a challenged; which can be gathered from the fact that the demand in the Ranchi town in the year 2000 was 80 MW which has now grown up to 200 MW in the year 2008 and so is the status of demand in the whole state which is 800 MW today as compared to 200 MW in the year 2000.

 

Jharkhand, which filed up the inhabitants of the state with great Joy. Since independence, the people of Jharkhand who are residing in remote places had not seen the light of civilization which actually comes through the new Carrier "Electricity", Immediately after the new state was constituted on 10.01.2001, the state of Jharkhand announced constitution of Jharkhand State Electricity Board to take up all activities for electrification of the whole state. On 16.03.2001 the Government of Jharkhand appointed the Chairman and member of Jharkhand State Electricity Board and the first Board took up its work with great enthusiasm.

 

COMPETITIVE TARIFF STRUCTURE

 

·         At --- KV, Demand charge of Rs. --- per KVA per month

·         At --- KV, Energy charge of Rs. --- per kwh

·         At --- KV, Fuel cost surcharge calculated on actual over a six monthly period ending in March and September.

·         At --- KV or --- KV, a rebate of --% allowed both on Demand charge and Energy charge.

·         In the event of average monthly factor of the consumer exceeding 0.--, a rebate of 0.--- paisa per KWH for every rise of power factor by 0.01 allowed up to power factor of 0.-----.

·         Surcharge levied for fall of average power below 0.----

·         An optional TOD incentive scheme

·         TOD incentive scheme in the form of concessional tariff for drawl of power during off-peak hours on fulfilling specified consumption performance.

·         Stable, reliable and quality power.

 

Three sources of power (Hydel, Thermal and Gas turbine), a vast network of transmission lines interconnecting tie lines with adjoining system and power grid coupled with dedicated feeder for power supply ensure stable, reliable and quality power

 

PROMPT AND EFFICIENT SYSTEM

 

Single window system at the office of the Chief Engineer (Commercial),JSEB, Ranchi ensuring simple procedure for getting service connection for power supply. JSEB’s Operation and Maintenance wing offering prompt and efficient services in the event of breakdown in power supply and transmission lines.

 

JHARKHAND STATE ELECTRICITY BOARD OVERVIEW

 

On 15.11.2000 the Land of lord Birsa emerged as a new state as State of Jharkhand, which filed up the inhabitants of the state with great Joy. Since independence, the people of Jharkhand who are residing in remote places had not seen the light of civilization which actually comes through the new Carrier "Electricity". Immediately after the new state was constituted on 10th Jan, 2001 the state of Jharkhand announced constitution, of Jharkhand State Electricity Board to take up all activities for electrification of the whole state. On 16.03.2001 the Government of Jharkhand appointed the Chairman and member of Jharkhand State Electricity Board and the first Board took up its work with great enthusiasm.

 

SALE OF POWER

 

JSEB supplies bulk power at 25 KV, 33 KV, 132 KV and 220 KV at different locations to industries and distributing licensees. Among these industries figure some core sector industries like Railway, Steel. Coal etc, which form integral parts of our national economy.

 

SALE OF WATER

 

JSEB supplies raw water for industrial and domestic purposes. At present water tariff charged by JSEB is Rs. ------------- per 1000 gallon.


DEPARTMENT IN CHARGE 

 

JSEB's Commercial Engineering Department handles technical, financial, commercial and legal aspects pertaining to sale of power and non-agricultural water.

 

ABOUT JHARKHAND

 

The 28th State of the Indian Union was brought into existence by the Bihar reorganization Act on November 15, 2000 the birth anniversary of the legendary Bhagwan Birsa Munda. Jharkhand is famous for its rich mineral resources like Uranium, Mica, Bauxite, Granite, Gold, Silver, Graphite, Magnetite, Dolomite, Fireclay, Quartz, Fields, Coal (32% of India), Iron, Copper(25% of India) etc. Forests and woodlands occupy more than 29% of the state which is amongst the highest in the India.

 

JHARKHAND - Birth of the State The region enshrouded in the hills and forests inaccessible to a large segment people. The tribes of this state are living here from thousands of years and not much changed in their life and culture over the ages bearing last few decades. Many scholars now believe that the language used by tribes in the state of Jharkhand is identical to the one used by Harappa people. This has led to a great interest in the deciphering of Harappa inscriptions using rock paintings and language used by these tribes. For a greater part of Vedic age, Jharkhand remained obscured. During the age of Mahajanpad as around 500 B.C, India saw the emergence of 16 large states who controlled the entire Indian subcontinent. The supremacy of the janpads was often decided by the power of swords bows and axe and other weapons. The region around Jharkhand was extremely rich in its mineral resources including iron and janpad that controlled this region, Magadha, eventually controlled most of the country. The power of Magadha continued to occupy central state in Indian subcontinent for a long time and saw the emergence of mighty empires such as Mauryas and Guptas. After the end of last big Hindu empire of Guptas, India saw emergence of a number of numerous regional powers who tried to control this region. Same was the case with Muslim Sultans of Delhi and their feudatories in Bengal, who tried to control this mineral-rich area. British identified this region as a great source of raw material for their booming industries back home and to exploit the region to its full potential, established a vast network of railway line. Calcutta was developed as a major port to export raw materials from this region to England.

 

RAJEEV GHANDHI GRAMEEN VIDYUTIKARAN YOJNA

 

Rajiv Gandhi Grameen Vidyutiakaran Yojna an ambitious project by Govt of India under which all un- electrified Villages are to be electrified by 2009 and all households are to be electrified by 2012. 90% of project cost will be funded by central Govt. rest 10% will be funded as soft loan by REC. The detailed project reports of all 22 districts under RGGVY have been submitted to REC out of which 13 projects have been sanctioned in 10th plan and remaining 9 projects sanctioned under 11th plan. Total sanctioned project cost is Rs. 28589.000 millions.

 

It has become possible only due to the fact that Jharkhand State Electricity Board has gone madly for system improvement and capacity addition by commissioning new Power substations, Grid stations and commissioning of transmission line and distribution network. So far improvement in generation is concerned, the Jharkhand State Electricity Board has not compromised with destiny as it would be evident from the fact that against too many odds and two major accident of fire in power plant at Patratu, it has not seized to attempt for revival of old power station. As on today it has been made capable to generate 200 MW. The state Government has executed agreements with the CPSU’s namely NTPC’s subsidiary NESCL and DVC for under taking the implementation of the schemes in eight districts for each. JSEB the state power utility has been entrusted for implementation in 6 district.

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 60.51

UK Pound

1

Rs.101. 69

Euro

1

Rs. 83.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

HNA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

DPH

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

47

 

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

 

--

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.