MIRA
INFORM REPORT
|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAHARASHTRA TOURISM DEVELOPMENT CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
CDO Hutments,
Madam Cama Road, Opposite Yogkshem Building, Mumbai – 400020, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2007 |
|
|
|
|
Date of
Incorporation : |
20.01.1975 |
|
|
|
|
Com. Reg. No.: |
11-018086 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 153.888 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1975SGC018086 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20604D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM0712G |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Subject is engaged into Tourism Activity in Maharashtra which is owned
by Government of Maharashtra and also engaged in development and maintenance of
various tourist place of Maharashtra. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 810000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
Litigation : |
Exist |
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|
Comments : |
Subject is a body of the Government of Maharashtra responsible for
development of tourism in the Indian State of Maharashtra. It has been established under the Companies Act of 1956 for systematic
development of tourism on commercial lines. The company has been shown as a “Dormant” Company in the Registrar of
Companies. Management has failed to file the financial after F.Y.2007with the
government department. Mr. Narendra Office Executive informed that business is active. Trade relations are reported as fair. Business is active. Payment
terms are reported as usually correct. In view of financial and managerial support from the state government,
the subject can be considered normal 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.
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra
topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn,
Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
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 BY
|
Name : |
Mr. Narendra |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-22044040 |
|
Date : |
11.03.2014 |
LOCATIONS
|
Registered/ Head Office : |
CDO Hutments,
Madam Cama Road, Opposite Yogkshem Building, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22044040/ 24143200/ 22836690 |
|
Fax No.: |
91-22-22024521/ 22852182 |
|
E-Mail : |
|
|
Website : |
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|
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|
|
Regional Offices : |
Located at: ·
Aurangabad Pune Nagpur Nashik Ratnagiri |
DIRECTORS
|
Name : |
Mr. Chhagan Chandrakant Bhujbal |
|
Designation : |
Director |
|
Address : |
Flat No.17/18, 5th Floor, Militiya Apartment , Mathar Pakhady Road,
Mumbai - 400010, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1947 |
|
Date of Appointment : |
07.01.2011 |
|
DIN No.: |
03346627 |
|
|
|
|
Name : |
Mr. Jagdish Patil Devidasrao |
|
Designation : |
Managing director |
|
Address : |
Shivdarshan, Collectors Residence, Siddheshwar Peth, Solapur - 413003,
Maharashtra, India |
|
Date of Birth/Age : |
02.05.1959 |
|
Date of Appointment : |
02.09.2011 |
|
DIN No.: |
03635966 |
|
|
|
|
Name : |
Mr. Ranjit Kamble |
|
Designation : |
Director |
|
Address : |
At- Rohani, Tq- Deoli, Wardha - 442101, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1964 |
|
Date of Appointment : |
07.01.2011 |
|
DIN No.: |
03372440 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra |
|
Designation : |
Office Executive |
|
|
|
|
Name : |
Ms. Sonali Sutar |
|
Designation : |
Secretary |
|
Address : |
312, 1st Floor, Building No.9, Kopari Colony, Thane –
400603, Maharashtra |
|
Date of Birth/Age : |
09.03.1984 |
|
Date of Appointment : |
12.08.2010 |
|
PAN No.: |
BVVPS5502A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Hon. Governor of Maharashtra |
|
1538880 |
|
Anand Kulkarni (Nominee Share Holder of Governor of
Maharashtra) |
|
1 |
|
|
|
|
|
Total |
|
1538881 |
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Government [Central and State] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Tourism Activity in Maharashtra which is owned
by Government of Maharashtra and also engaged in development and maintenance
of various tourist place of Maharashtra. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
· State Bank of Hyderabad State
Bank of India Syndicate
Bank Union
Bank of India HDFC
Bank Limited Corporation
Bank Central
Bank of India Bank
of Maharashtra Bank
of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kochar and Associates Chartered Accountants |
|
Address : |
302, Swapana Bhoomi ''A'', S K Bole Road, Near Portugese Church, Dadar - (West), Mumbai – 400028, Maharashtra, India |
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Email: |
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|
Website: |
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|
Income-tax
PAN of auditor or auditor's firm : |
AADFK9098F |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,538,881 |
Equity Shares |
Rs. 100/- each |
Rs. 153.888
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
153.888 |
153.888 |
150.888 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
32.597 |
32.597 |
32.598 |
|
|
4] (Accumulated Losses) |
16.078 |
(34.117) |
(65.033) |
|
|
NETWORTH |
202.563 |
152.368 |
118.453 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
84.394 |
82.794 |
81.194 |
|
|
TOTAL BORROWING |
84.394 |
82.794 |
81.194 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
286.957 |
235.162 |
199.647 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
188.212 |
189.585 |
192.506 |
|
|
Capital work-in-progress |
0.656 |
0.242 |
0.306 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.107 |
0.107 |
0.158 |
|
|
DEFERRED TAX ASSETS |
0.665 |
1.409 |
2.528 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.360 |
4.615 |
5.028 |
|
|
Sundry Debtors |
113.617 |
82.332 |
82.043 |
|
|
Cash & Bank Balances |
3243.559 |
1312.252 |
508.484 |
|
|
Other Current Assets |
128.277 |
33.402 |
32.992 |
|
|
Loans & Advances |
24.116 |
21.595 |
15.943 |
|
Total
Current Assets |
3513.929 |
1454.196 |
644.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
181.551 |
|
70.721 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
3235.061 |
1285.561 |
569.620 |
|
Total
Current Liabilities |
3416.612 |
1410.377 |
640.341 |
|
|
Net Current Assets |
97.317 |
43.819 |
4.149 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
286.957 |
235.162 |
199.647 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
277.870 |
141.603 |
112.099 |
|
|
|
Other Income |
0.348 |
106.139 |
70.636 |
|
|
|
Grant-In-Aid (For Publicity) |
0.000 |
32.400 |
23.048 |
|
|
|
TOTAL (A) |
278.218 |
280.142 |
205.783
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
135.715 |
112.329 |
|
|
|
Administrative Expenses and Other Expenses |
|
62.973 |
39.683 |
|
|
|
Grant-In-Aid (For Publicity to the extent spent during the year including Fairs and Festival) |
|
39.616 |
27.100 |
|
|
|
Stores and Spares Written Off |
|
0.974 |
1.000 |
|
|
|
TOTAL (B) |
217.040 |
239.278 |
180.112 |
|
|
|
(Including
Financial and Depreciation Expenses) |
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
40.864 |
25.671 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.600 |
1.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
39.264 |
24.071 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
8.901 |
8.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
61.178 |
30.363 |
15.311 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.311 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
58.867 |
30.363 |
15.311 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(34.117) |
(73.761) |
(87.362) |
|
|
|
|
|
|
|
|
|
Less/ Add |
Prior Period adjustments (Net) |
0.000 |
9.281 |
(1.710) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
16.078 |
(34.117) |
(73.761) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
14.716 |
16.231 |
8.465 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
38.25 |
19.73 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
21.16
|
10.84 |
7.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.02
|
21.44 |
13.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.65
|
1.85 |
1.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.20 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.42
|
0.54 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.03 |
1.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2005 |
31.03.2006 |
31.03.2007 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Share Capital |
150.888 |
153.888 |
153.888 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Reserves & Surplus |
32.598 |
32.597 |
32.597 |
|
(Accumulated Losses) |
(65.033) |
(34.117) |
16.078 |
|
Net
worth |
118.453 |
152.368 |
202.563 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
81.194 |
82.794 |
84.394 |
|
Total
borrowings |
81.194 |
82.794 |
84.394 |
|
Debt/Equity
ratio |
0.685 |
0.543 |
0.417 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2005 |
31.03.2006 |
31.03.2007 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Sales |
112.099 |
141.603 |
277.870 |
|
|
|
26.320 |
96.232 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2005 |
31.03.2006 |
31.03.2007 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Sales |
112.099 |
141.603 |
277.870 |
|
Profit |
15.311 |
30.363 |
58.867 |
|
|
13.66% |
21.44% |
21.19% |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No: ARBPL/498/2012 Filing Date: 31.03.2012 Reg. No.: ARBP/632/2012 Reg. Date: 11.06.2012 |
|
Petitioner: KRISHNALI RESORTS PRIVATE LIMITED Respondent: MAHARASHTRA TOURISM
DEVELOPMENT CORPORATION LIMITED Petn. Adv : GENSSH AND CO (0)
Resp. Adv.: L.M. ACHARRYA (0) District: MUMBAI |
|
Bench: SINGLE Status: Pre-Admission
Category:
ARBITRATION ACT Last Date: 06.03.2014
Stage: ARBAP FOR HEARING AND FINAL DISPOSAL U/S 11 OF ARB.
ACT
Last Coram: HON’BLE SHRI JUSTICE G.S. PATEL |
|
Act: Arbitration and Conciliation Act 1996 Under Section: 9 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
CURRENT MATURITIES OF
LONG TERM DEBTS: NOT AVAILABLE
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2007 (Rs.
In Millions) |
31.03.2006 (Rs.
In Millions) |
|
Loan from Govt. of
Mah. Social welfare, Cultural Affairs, Sport and Tourism Deptt. |
|
|
|
Loan Amount |
43.270 |
43.270 |
|
Interest accrued and due on above |
40.364 |
38.764 |
|
Loan from Govt. of
Mah.Social Welfare, Cultural Affairs, Sport and Tourism Deptt. for
Construction of Kolhapur Type Bandhara (K.T.weir) at Karla |
|
|
|
Loan Amount |
0.760 |
0.760 |
|
Interest accrued and due on above |
0.000 |
0.000 |
|
|
|
|
|
Total |
84.394 |
82.794 |
CHANGE OF ADDRESS:
The Registered office of the company has been
shifted from Express Towers, Nariman Point, Mumbai – 400021, Maharashtra, India
to the present address w.e.f.31.01.2011.
CONTINGENT LIABILITIY (AS ON 31.03.2007):
No provision is made for the following liabilities being contingent:
Claims toward the additional compensation for the land at Mochemad as awarded by the District Court, Sawantwadi being disputed in the appeal before the High Court Mumbai, Rs. 1.223 Millions (P.Y.1.223 Millions).
Estimated liability towards the claims for additional compensation from other holders of the plots of land acquisitioned at Shiroda based on the decision of the District Court Rs. 28.540 Millions (P.Y. 28.540 Millions).
a) Penalty levied u/s. 271B under Income Tax Act, 1961, for Assessment year 1997-98 Rs. 0.100 Million being disputed.
b) Petitions made for A.Y. 1985-86 to A.Y. 1995-96 is pending before CBDT New Delhi.
c) Appeal before CIT is filed for A.Y. 2002 –2003 to 2005-2006. Scrutiny proceedings are underway for A.Y. 2006-2007 and 2007-2008.
Claims of Rs. 1.060 Millions made by irrigation department in respect of lease rent for Jaikwadi Rest House (Lake View Resort) as the matter is pending with the High Power Committee formed by state government.
Claim raised by Collector of Mumbai estimated at Rs.7.023 Millions (P.Y. Rs. 7.023 Millions) being interest on defaulted lease rent on leased property at Marine Lines. Corporation has made representation to the Government of Maharashtra to reduce the said Lease rent. Although the full amount of lease rent is recorded in the books of account, the same is not paid pending the decision of the Government of Maharashtra and execution of agreement of lease.
Claim towards increase of office rent of Express Towers of Indian Express for Rs 52.372 Millions (P.Y.Rs.43.549 Millions) as the same is disputed by the Corporation.
Other claims against the Corporation not acknowledged as debts Rs. 0.471 Million (P.Y. Rs. 0.471 Million).
FIXED ASSETS
· Land (Free Hold/Lease Hold)
Building
Electrification
Office
Vehicle
Office
Equipment
Furniture
and Fixture
Water
Pump and Transformer
Kitchen
Equipment
Aircondition
and Gen setHealth Club Equipments
Playing
Appreatus Equipment
Foundation
for Tenting Camp
Electrification
for Tenting Camp
F.R.P.
Toilet Block
Computer
Equipments
PRESS RELEASES:
MAHARASHTRA TOURISM
DEVELOPMENT CORPORATION HIGHLIGHTS MARBAT TO ATTRACT TOURISTS TO VIDARBHA
Sep 5, 2013
NAGPUR: The Marbat processions taken out in the city are all set to come into the limelight, with the Maharashtra Tourism Development Corporation (MTDC) deciding to promote tourism in the region using this unique festivity of the city.
MTDC seems to be going on the right track to develop tourism in the region by promoting it through festivals. It has decided to celebrate Marbat Festival based on the Kali and Pivli Marbat processions taken out on Tanha Pola in Itwari. "We want to popularize our culture and traditions to boost tourism in the region. The Marbat procession, which is unique to our city, is perfect for it," said Hanumant Hede, senior regional manager, MTDC.
MTDC has collaborated with Pivli Marbat Nagoba Devsthan and Devi Sevsthan Panch Committee for organizing the festival. It will include a photography exhibition and some cultural events. While the photo exhibition showcasing early photographs of Marbats will be held at the MTDC office in Civil Lines from September 5 to 8, the cultural programmes will be held at Nehru Hall, Nehru Putla square, Itwari. The cultural programmes will start at 8am on September 6 and will include tumid gayan, khadi gammat and nritya natika.
"We have put up posters in other parts of the state to publicize the Marbat Festival. There will be 20 students of NSS Tourism Club to assist and guide tourists so that they are able to enjoy the festival and procession," Hede said.
"It is a very good idea to link something unique to our city with tourism. Such steps will help popularize the region and its culture and draw more tourists," said Jagmohan Sethi, former vice president and tourism in-charge, VED.
"The Marbat processions were started around 1885 on the lines of the Ganesh Festival celebrated in Western Maharashtra to get the community together against the British. Before that, each home used to have its own small idols," said Prakash Gaurkar of Pivli Marbat Nagoba Devsthan.
Similarly, Madhukar Vaidya, representing the kali marbat, said, "The festival got its inspiration from the lore of female demon Putana, who tried to kill Lord Krishna. It probably started after Bhonsla queen Bakabai's revolt against the British."
The huge Marbat idols are made by the Shende family. Its fourth generation is now involved in the making. "My grandfather first began making it when this procession started. Now, my son has also joined me. This cultural legacy has remained in our family and my son has ensured that it remains with us," said Gajananrao Shende.
MAHARASHTRA,
RAJASTHAN TOURISM BODIES TO RENEW PACT
Sep 9, 2013
PUNE: The tourism development corporations of Rajasthan and Maharashtra will renew the memorandum of understanding (MoU) signed in 1998 to promote tourism in both states.
Vinod Ajmera, managing director of the Rajasthan Tourism Development Corporation (RTDC), who is in the city to attend a travel and tourism fair, said, "We had signed the MoU with the Maharashtra Tourism Development Corporation (MTDC) 15 years back, which expired five years ago. We will meet the MTDC officials soon. The MoU is aimed at not just promoting both the states but also to popularize the properties in Maharashtra and Rajasthan among tourists. It will facilitate tourists coming from Rajasthan to stay in Maharashtra's properties and vice versa."
Ajmera said that Rajasthan will focus on tourists from Pune, an economic hub, who travel for leisure. "They must also enjoy the colourful state of Rajasthan through its luxury train Palace on Wheels. The train was recently recognized as the fourth best luxury train in the world," he said.
The Palace on Wheels was recently re-launched in Delhi. The refurbishing cost Rs 10.000 Millions.
"We have come here to participate in this fair. We received the 'Most Innovative Product' award for Palace on Wheels," said Ajmera, who also looks after 48 tourist hotels in Rajasthan, apart from fairs, festivals and package tours.
MAHARASHTRA TOURISM
DEVELOPMENT CORPORATION OPENS TOURIST INFORMATION CENTRE AT NAGPUR AIRPORT
Oct 13, 2013
NAGPUR: In a late, though welcome move, the Maharashtra Tourism Development Corporation (MTDC) has opened a tourist information counter at Nagpur's Dr. Babasaheb Ambedkar International Airport. The counter is shaped like an orange because of the obvious connection of the fruit with the city.
"Earlier we only had a table counter which was not very useful for the prospective tourists who landed in the city. Now, this counter, with a booking kiosk will be of much more assistance to tourists. We have shaped it like an orange as part of our branding efforts which will also make the counter attractive," said Hanumant Hede, senior regional manager, MTDC.
However, this was not an exclusive move to promote tourism in Vidarbha. Hede told TOI that such counters were also placed in some other airports of the state. Critics have often slammed MTDC for its step-motherly treatment to Vidarbha which finds very less space in its tourism propaganda. "It is a late move, but at least it is made. We are constantly trying to bring Vidarbha on the map of Maharashtra tourism," said MLA Ashish Jaiswal.
"Generally, tourism brochures start from Elephanta caves and end at Ajanta-Ellora. So this step is certainly welcome," said Devendra Parekh. The counter is positioned inside the main terminal building near the 'Arrivals' section and will be immediately visible to passengers from the point where they collect their luggage, said an airport official. But some stake holders TOI spoke to were a bit guarded in expressing their happiness.
"I am not sure about the immediate result of this. Most of the tourists who land here have a pre-planned itinerary when they come here and don't go exploring at the spur of the moment. But it can have recall value and create an impression on the people landing in the city because of the way it is designed," said Amol Khante, director, CAC Allrounder.
Both Khante and Parekh were also worried about the management of the counter. They feared that the representatives of MTDC will have a lackadaisical attitude which might not encourage tourists to interact with them.
But Hede said that they are taking care of that. For now, the corporation's front desk staff had been designated at the counter. "We are in the process of screening employees who fit in this job profile and have knowledge of tourism industry," he added.
But the fear remains that in spite of the seemingly good move, Vidarbha will continue to be overlooked by MTDC. "Such kiosks, which have more mention of Vidarbha, should catch the tourists at their origin. One of my colleagues who visited this counter told me that again, the tourist spots of western Maharashtra hogged most of the limelight even in Nagpur. When tourists are coming here, they should see what is there in Vidarbha," Khante said.
KONKAN BELT WITNESSES
MARKED INCREASE IN TOURISM THIS DIWALI
Mumbai, Fri Nov 08
2013
The Maharashtra Tourism Development Corporation (MTDC) has
seen a substantial increase in tourism during this festive season of Diwali.
This year, the Konkan belt has enjoyed the highest number of tourist inflow in
Maharashtra followed by the Vidarbha region. Beaches and the forests of
Maharashtra were the most preferred attractions apart from the World Heritage
sites like Ajanta and Ellora.
Speaking exclusively to Financial Express Online, Dr. Jagdish Patil, managing director, MTDC, said, "This year, tourism in Maharashtra got an excellent response. The Konkan region has seen a 100 per cent occupancy, even the Vidarbha region did well."
Speaking about the outcome of the MTDC show in Times Square, New York, which was hosted to increase the international tourist footfall in Maharashtra during Diwali, Patil said, "The MTDC show in Times Square was hosted just to create awareness about Diwali, internationally. Many foreign tourists may not have visited Maharashtra during this festival season, but we cannot judge the success of that show as it was hosted only a month back. "
This Diwali also saw an increase in the enquiries for the luxury train ' Deccan Odyssey', both from international as well as domestic tourists. Satish Soni, joint managing director and director of tourism, government of Maharashtra, said, "A lot of enquiries came in for the Deccan Odyssey. As usual, Ajanta and Ellora was one of the most visited place after Konkan."
MTDC is also coming up with an unique Tourism Centre in Panhala, Kolhapur. This centre is designed and structured like an ancient fortress of Maharashtra. Patil stated, "This new structure would be a place where the tourists can get local information and they can purchase things which are unique to Maharashtra. There would also be space for performing arts, where local artists can promote our culture. A space would be created where the travellers can rest for a while." This new centre is scheduled to start by the end of December 2013.
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. 60.70 |
|
|
1 |
Rs. 100.97 |
|
Euro |
1 |
Rs. 84.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.