MIRA INFORM REPORT
|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIDYA PRASARINI SABHA |
|
|
|
|
Registered
Office : |
19/2, T P Scheme, Shivaji Nagar, Pune District, Pune – 411005,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.12.1923 |
|
|
|
|
Trust Fund : |
Rs.32.479 Millions |
|
|
|
|
Legal Form : |
Educational Trust |
|
|
|
|
Line of Business
: |
Providing Educational Services. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 an established non-profit organization devoted to the cause
of peace and provision of value based educational services. It is a formed trust which runs various colleges in Pune region of
Maharashtra with a view to provide affordable, educational and recreational
activities in a clean environment. Trade relations appear to be fair. Business is active. Payment terms
are reported as usually correct. In view of long standing experience, the subject can be considered for
normal 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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. Govadhan Shingre |
|
Designation : |
Chairman |
|
Contact No.: |
91-9850822916 |
|
Date : |
22.01.2014 |
|
Name : |
Mrs. Bharti |
|
Designation : |
Admin Department |
|
Contact No.: |
91-20-25536066 |
|
Date : |
22.01.2014 |
LOCATIONS
|
Registered Office : |
19/2, T P Scheme, Shivaji Nagar, Pune District, Pune – 411005, Maharashtra,
India |
|
Tel. No.: |
91-20-25536066 |
|
Mobile No.: |
91-9850822916 (Mr. G. V. Shingre) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branches : |
They offer the
degree courses for BCA (Bachelor of Computer Applications) and B.Sc./ BCS (Bachelor
of Computer Science). 1. Sheth Hirala
Saraf Prashala, Pune. 2. Bharat
English School and Jr. College, Pune. 3. Bharat
Marathiu High School, Pune. 4. Nutan Bharat
Marathi High School, Pune. 5. Prof. Nath
Hari Purandare Primary School, Pune. 6. Shishumandir,
Pune. 7. Balak
Mandir, Pune. 8. Shri Balak
Mandir, Pune. 9. V.P.S.
Computer and Management Institute, Pune. 10. V.P.S. High
School and D.P. Mehta Jr. College, Lonavala. 11. V.P.S.
English Teacher School, Lonavala. 12. V.P.S.
Primary School, Lonavala. 13. V.P.S.
Marathi Montessori, Lonavala. 14. V.P.S.
English Montessori, Lonavala. 15. V.P.S.
Shriman Seth Shantilal Hansraj, Lunawat Commerce Institute, Lonavala. 16. Mahila Kala
Vikas Kendra, Lonavala. 17. V.P.S.
Computer Institute, Lonavala. 18. V.P.S.
Computer Institute, Pune. 19. V.P.S.’s
Smt. Shantidevi Gopichand Gupta School, Malawali. 20. V.P.S.’s
Vidyavardhini English Medium School, Pune. |
TRUSTY
|
Name : |
Mrs. Bharti |
|
Designation : |
Admin Department |
|
|
|
|
Name : |
Mr. Govardhan Venkatesh Shingre |
|
Designation : |
Chairman |
|
Address : |
1047, Shukrawar Peth, Pune – 411002, Maharashtra, India |
|
Date of Birth/Age : |
17.04.1943 |
|
PAN No.: |
AKIPS4595C |
|
Mobile No.: |
91-9850822916 |
|
|
|
|
Name : |
Mr. Dilipkumar Hiralal Saraf |
|
Designation : |
Secretary |
|
Address : |
683, Tabut Street, New Hirabaug, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1946 |
|
Qualification : |
B.E. (Mech.) |
|
PAN No.: |
AELPA1854K |
|
Mobile No.: |
91-9881504118 |
|
|
|
|
Name : |
Mr. Satish Bhalchandra Gavali |
|
Designation : |
Joint Secretary |
|
Address : |
Suryadaya Park, Flat No.13, Behind Navmaharashtra Vidyalaya,
PimpriGaon, Pune – 411017, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1966 |
|
Qualification : |
Services |
|
PAN No.: |
AFRPG9474L |
|
Mobile No.: |
91-9922066738 |
|
|
|
|
Name : |
Mr. Arvind Vithal Sahastrabudhe |
|
Designation : |
Member |
|
Address : |
267,Budhwar Peth, Dhamdhere Wada, Near Shrikrishna Talkies, Pune –
411002, Maharashtra, India |
|
Date of Birth/Age : |
18.11.1936 |
|
Qualification : |
B. A. Bed. |
|
PAN No.: |
ADWPS8993F |
|
Mobile No.: |
91-9922744194 |
|
|
|
|
Name : |
Mr. Arvindbhai Shankarlal Mehta |
|
Designation : |
Member |
|
Address : |
18 F ward, New Bazar, Lonavala,
Tal - Maval, District Pune, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1939 |
|
Qualification : |
B.Com |
|
PAN No.: |
AAUPM2933Q |
|
Mobile No.: |
91-9422328866 |
|
|
|
|
Name : |
Mr. Navinbhai Kantilal Ptrawala |
|
Designation : |
Member |
|
Address : |
F/ 83, Old Bazar, Lonavala, Tal - Maval, District Pune, Maharashtra,
India |
|
Date of Birth/Age : |
12.08.1940 |
|
Qualification : |
B.A.L.L.B. |
|
PAN No.: |
AARPP2120P |
|
Mobile No.: |
91-9323774020 |
|
|
|
|
Name : |
Mr. Nirsinha Janardhan Londhe |
|
Designation : |
Member |
|
Address : |
22 Sneh Co-operative Housing Society, Rambaug Colony, Opposite
Chaitanya Club, Kothrud, Pune, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1935 |
|
Qualification : |
M. A. M. Ed. |
|
PAN No.: |
AAJPL7763N |
|
|
|
|
Name : |
Mr. Kanhaiya Sonraj Bhurat |
|
Designation : |
Member |
|
Address : |
New Bazar, Lonavala, Tal. Maval, District Pune, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1961 |
|
Qualification : |
B. Arch |
|
PAN No.: |
AAPPB5483K |
|
Mobile No.: |
91-9822004188 |
|
|
|
|
Name : |
Mr. Shriram Govind Joshi |
|
Designation : |
Member |
|
Address : |
Meghdoot, S. No. 669/1 C, Bibwewadi, Pune – 411037, Maharashtra, India
|
|
Date of Birth/Age : |
22.03.1953 |
|
PAN No.: |
AFNPJ5757K |
|
Mobile No.: |
91-9850644830 |
|
|
|
|
Name : |
Mr. Arun Shridhar Dixit |
|
Designation : |
Member |
|
Address : |
Laxi Vishnu Apartment, 896, Shivajinagar, Bhandarkar Road, Pune –
411004, Maharashtra, India |
|
Date of Birth/Age : |
18.03.1944 |
|
Qualification : |
B.Com, L.L.B., A.C.A |
|
PAN No.: |
ABUPD4498G |
|
Mobile No.: |
91-9422513945 |
|
|
|
|
Name : |
Mr. Hiren Balkrishna Nirgudkar |
|
Designation : |
Member |
|
Address : |
Kondan, Plot No. 4, Varad Housing Society, Vithalwadi, Pune – 411051,
Maharashtra, India |
|
Date of Birth/Age : |
15.06.1954 |
|
Qualification : |
B.A.M.S. (Bombay) |
|
PAN No.: |
AANPN9207B |
|
Mobile No.: |
91-9822873654 |
BUSINESS DETAILS
|
Line of Business : |
Providing Educational Services. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
No. of Employees : |
350 (Approximately) |
|
|
|
|
Bankers : |
· Bank of Baroda Pune, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Achyut Ekhe and Company Chartered Accountants |
|
Address : |
3, Seoul A Soc, S. No. 45/4B, Kothrud, Pune – 411030, Maharashtra,
India |
TRUST FUND
|
Trust Fund: |
Rs.32.479 Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
FUNDS AND
LIABILITIES |
|
|
|
|
Trust Funds |
|
32.479 |
32.474 |
|
Other Funds |
|
43.878 |
34.779 |
|
Other Liabilities |
|
40.297 |
1.397 |
|
Anamat Receipts |
|
27.471 |
3.678 |
|
Inter-Branch |
|
3.263 |
3.077 |
|
Net carried Forward |
|
18.705 |
21.107 |
|
Excess of Income O/ Exp |
|
25.071 |
13.757 |
|
|
|
|
|
|
TOTAL |
|
191.164 |
110.269 |
|
|
|
|
|
|
ASSETS AND
PROPERTIES |
|
|
|
|
Immovable Assets |
|
126.923 |
53.377 |
|
Movable Assets |
|
31.186 |
23.022 |
|
Investments |
|
8.185 |
3.703 |
|
Anamat Payments |
|
0.627 |
0.902 |
|
Inter-Branch |
|
18.705 |
21.107 |
|
Cash and Bank |
|
5.538 |
8.158 |
|
|
|
|
|
|
TOTAL |
|
191.164 |
110.269 |
INCOME AND
EXPENDITURE ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Building Rent |
|
3.119 |
4.514 |
|
|
|
Interest on Investment |
|
0.711 |
0.787 |
|
|
|
Dividends |
|
0.001 |
0.000 |
|
|
|
Donations |
|
8.306 |
1.980 |
|
|
|
Govt. Grants (Salary) |
|
114.768 |
103.522 |
|
|
|
Other Income |
|
26.178 |
24.919 |
|
|
|
TOTAL |
|
153.083 |
135.722 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Maintains of Assets |
|
0.191 |
0.887 |
|
|
|
Administrative expenses |
|
3.792 |
5.945 |
|
|
|
Interest on Loans |
|
0.000 |
0.000 |
|
|
|
Other Expenses |
|
0.001 |
0.000 |
|
|
|
Exps for Object of trust |
|
131.177 |
121.877 |
|
|
|
Depreciation |
|
6.609 |
2.724 |
|
|
|
TOTAL |
|
141.770 |
131.433 |
|
|
|
|
|
|
|
|
|
EXCESS OF INCOME
OVER EXPENSES |
|
11.313 |
4.289 |
|
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
No |
|
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 |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
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 |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
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.61.92 |
|
UK Pound |
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.83.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
NIT |
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.