MIRA INFORM REPORT

Report Date :

05.08.2014

IDENTIFICATION DETAILS

Name :	MINISTRY OF TOURISM
Registered Office :	124, Transport Bhawan, Sansad Marg, New Delhi - 110001
Country :	India
Year of Establishment :	1993
Capital Investment / Paid-up Capital :	Not Divulged
Legal Form :	Nodal Agency (Government Body)
Line of Business :	It’s a agency started to promote and develop tourism in India.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is nodal agency (Government Body) having good track record. It is engaged into development and promotion of tourism in the country. Ministry is headed by union minister of state for tourism. Trade relations are trustworthy. Business is active. Payment terms are reported to be regular as per commitment. In view of government agency, subject can be considered 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 31-03-2014.

INFORMATION DENIED

Management Non Co-Operative (91-11-23715717)

LOCATIONS

Registered Office :	124, Transport Bhawan, Sansad Marg, New Delhi – 110001, India
Tel. No.:	91-11-23715717
Fax No.:	91-11-23710518
Website :	http://www.tourism.nic.in
Branch Office :	They have 20 offices all over India

MANAGEMENT

Name :	Mr. S. K. Chakrabarty
Designation :	Director
Name :	Mr. Dilip Kumar
Designation :	Director
Name :	Mrs. Hena Usman
Designation :	Director
Name :	Dr. Mamta Kochar
Designation :	Director

KEY EXECUTIVES

Name :	Mr. Parvez Dewan (IAS)
Designation :	Secretary
Name :	Dr. T. Kumar (IAS)
Designation :	Additional Secretary and FA
Name :	Mr. Girish Shankar (IAS)
Designation :	Additional Secretary
Name :	Mrs. Usha Sharma (IAS)
Designation :	Addl. D.G
Name :	Dr. Ravi Kant Bhatnagar (ISS)
Designation :	Addl.D.G (MR)
Name :	Mr. Anand Kumar (IAS)
Designation :	Joint Secretary
Name :	Mr. Devender Singh (IES)
Designation :	Adviser
Name :	Mr. Raja Kar
Designation :	Under Secretary
Name :	Mr. A.S. Saxena
Designation :	Assistant Director (CCI)
Name :	Mr. O.P. Meena
Designation :	Assistant Director
REGIONAL AND SUB REGIONAL OFFICERS
Andaman and Nicobar (PORT BLAIR) :	Mr. P. Rangarajan, Manager Mr. P. Rangarajan, Asst. Director
Andhra Pradesh (Hyderabad) :	Mr. C.V. Shankar Reddy, Manager
Arunachal Pradesh (Naharlagun) :	Ms. Antara Dhar, Tourist Information Officer
Assam (Guwahati) :	Mr. Sanjay Shrivats, Regional Director Mr. Sanjay Kumar Das, Asst. Director
Bihar (Patna) :	Mr. Sagnik Chowdhury, Director
Delhi (Delhi) :	Mr. Arun Shrivastava, Regional Director Ms. Sushila Tigga, Asst. Director Ms. Monisha Satoeya, Asst. Director Ms. Kanchan Kalia Kukreja, Asst. Director Mr. S.R. Chowdhury, Asst. Director Mr. Harpal Singh, Asst. Director
Goa (Panaji) :	Mr. G. Omanakuttan, Manager Vacant, Asst. Director
Karnataka (BANGALORE) :	Mr. T.W. Sudhakar, Director
Kerala (KOCHI) :	Mr. Gobind C. Bhuyan, Manager Vacant, Asst. Director
Madhya Pradesh (Indore) :	Mr. R. K. Mishra, Asst. Director Vacant, Tourist Information Officer
Maharashtra (Aurangabad) :	Vacant, Manager Mr. Karan Singh, Asst. Director
Maharastra (Mumbai) :	Mr. Vikas Rustagi, Regional Director Mrs. Malti Dutta, Asst. Director Mr. Jagdish Thombare, Asst. Director Mrs. Bhavana Shinde, Asst. Director Mrs. Shobha Kumar, Asst. Director
Manipur (Imphal) :	Mr. Senthur Kumaran Velayutham, Asst. Director Ms. Lilavati, Tourist Information Officer
Meghalaya (Shillong) :	D. K. Mandal, Manager
Orissa (Bhubaneswar) :	Mr. B.B. Mukherjee, Asst. Director Vacant, Tourist Information Officer
Rajasthan (Jaipur) :	Mr. S.S. Devburman, Director
Tamilnadu (Chennai) :	Mr. Shoeb Samad, Regional Director Mr. S.Ramakrishnan, Asst. Director Mr. A.Seetharaman, Asst. Director
Telegana (Hyderabad) :	Mr. C.V. Shankar Reddy, Manager
Uttar Pradesh (Agra) :	Mr. S.R. Meena, Manager
Uttar Pradesh (Varanasi) :	Mritunjay Mishra, Manager
West Bengal (Kolkata)	Mr. J.P. Shaw, Regional Director Mr. J. Biswas, Asst. Director
Australia (Sydney) :	Ms. Deepa Laskar, Director (Additional Charge) Mr. Vibahava Tripathi, Assistant Director Vacant, Tourist Information Officer Mr. S.P. Nirbhavane, Tourist Information Officer
Canada (Toronto) :	Mr. Anil Oraw, Director Mr. Sushil Kumar Singh, Tourist Information Officer Mr. Siddharth Bodwai, Tourist Information Officer
China (Beijing) :	Mrs. Deepa Laskar, Director
France (Paris) :	Mrs.Padmaja Vashist, Director Mr. Pravir Chakravarty, Assistant Director Mr. S. Candamurthy, Tourist Information Officer Sandeep Shukla, Tourist Information Officer
Germany (Frankfurt) :	Mrs. Roma Singh, Regional Director Mr. U S Mishra, AD(Account) Ramkumar Vijayan, Assistant Director Mr. Jitendra Jadhav, Assistant Director
Italy (Milan) :	Mr. Gobind C. Bhuyan, Regional Director Mr. C. Gangadhar, Assistant Director
Japan (Tokyo) :	Ms. Deepa Laskar, Regional Director (Additional Charge) Mrs. Bidisha Sengupta, Assistant Director
Netherlands (Amsterdam) :	Ms. Roma Singh, Regional Director (Additional Charge) Smt. M. Sitalakshmi, Tourist Information Officer Mr. P.L. Pereira, Tourist Information Officer
Singapore :	Ms. Deepa Laskar, Director (Additional Charge) Mr. Y. Neelkantham, Assistant Director
South Africa (Johannesburg) :	Mr. M.R. Pattanaik, Director
United Arab Emirates (Dubai) :	Mr. Manas Ranjan Pattanaik, Director (Additional Charge) Mr. I.R.V. Rao, Assistant Director
United Kingdom (London) :	Mr. Padmaja Vashisth, Director (Additional Charge) Vacant, Regional Director Mr. Amit Kumar Gupta, Tourist Information Officer Mr. R.K. Sunani, Assistant Director
United States (Los Angeles) :	Mr. Anil Oraw, Director (Additional Charge) Smt. Sandhya Haridas, Regional Director
United States (New York) :	Mr. Anil Oraw, Director (Additional Charge Mrs. Meenakshi Vashishtha, Assistant Director vacant, Tourist Information Officer Mr. Ishrat Alam, Tourist Information Officer

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 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	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	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

AS PER WEBSITE DETAILS

The Organisation

The Ministry of Tourism, is the nodal agency for the formulation of national policies and programmes and for the co-ordination of activities of various Central Government Agencies, State Governments/UTs and the Private Sector for the development and promotion of tourism in the country. This Ministry is headed by the Union Minister of State for Tourism (Independent Charge).

The administrative head of the Ministry is the Secretary (Tourism). The Secretary also acts as the Director General (DG) Tourism. The office of the Director General of Tourism {now merged with the office of Secretary (Tourism)} provides executive directions for the implementation of various policies and programmes. Directorate General of Tourism has a field formation of 20 offices within the country and 14 offices abroad and one sub-ordinate office/project i.e. Indian Institute of Skiing and Mountaineering (IISM)/ Gulmarg Winter Sports Project. The overseas offices are primarily responsible for tourism promotion and marketing in their respective areas and the field offices in India are responsible for providing information service to tourists and to monitor the progress of field projects. The activities of IISM/GWSP have now been revived and various Ski and other courses are being conducted in the J and K valley.

· The Ministry of Tourism has under its charge a public sector undertaking, the India Tourism Development Corporation and the following autonomous institutions:

· Indian Institute of Tourism and Travel Management (IITTM) and National Institute of Water Sports (NIWS)

· National Council for Hotel Management and Catering Technology (NCHMCT) and the Institutes of Hotel Management.

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.61.02
UK Pound	1	Rs.102.69
Euro	1	Rs.81.91

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUM
Report Prepared by :	VRN

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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