MIRA INFORM REPORT

 

 

Report No. :

317595

Report Date :

17.04.2015

 

IDENTIFICATION DETAILS

 

Name :

WIND WORLD (INDIA) LIMITED (w.e.f. 01.01.2013)

 

 

Formerly Known As :

ENERCON (INDIA) LIMITED

 

 

Registered Office :

Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396210, Daman and Diu

 

 

Tel. No.:

91-260-2220624

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007 (Unaudited)

 

 

Date of Incorporation :

22.05.2003

 

 

Com. Reg. No.:

56-003236

 

 

Capital Investment / Paid-up Capital :

Rs. 72.000 Million

 

 

CIN No.:

[Company Identification No.]

U31200DD2003PLC003236

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTE00116E

 

 

PAN No.:

[Permanent Account No.]

AAACE0319D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Wind Mills.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Management has failed to file the financials with the government department since FY 07.

 

Mr. Jitin Bhatt, the finance manager parted that “Wind World India Limited” had entered into a licensing agreement with “Enercon India Limited” but later they indulged into a legal dispute, which led to separation during 2007, which is still sub judice with court.

 

No other details could be made available payment terms are unknown.

 

The company can be considered for business dealings with great caution.

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities: “BB+” (Suspended)

Rating Explanation

Moderate risk of default and high credit risk.

Date

19.07.2013

 

Reason: Not furnished the information required by CARE.

 

 

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 DECLINED

 

MANAGEMENT NON-COOPERATIVE (Tel. No.; 91-22-66924848/ 67607200)

 

 

LOCATIONS

 

Registered Office :

Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396210, Daman and Diu, India

Tel. No.:

91-260-2220624 / 2221219 / 2221220 / 2220321 / 2220628

Fax No.:

91-260-2221508 / 67020083

E-Mail :

enercon@bom3.vsnl.net.in

admin@mumbai.enercon-india.com

ketkimayekar@rediffmail.com

vijay.poddar@enercon.net 

ajay.mehra@enerconindia.net

karmakar.m@enerconindia.net

legal.compliance@enerconindia.net

jitin.bhatt@windworldindia.com

kaushik.khana@windworldindia.com 

pravin.mehta@windworldindia.com 

Website:

www.enerconindia.net 

Location : 

Leased

 

 

Corporate Office :

Tower Plot No. A - 9, CTS No. 700, Veera Industrial Estate, Veera Desai Road
Next to Bhagavati House, Andheri (West), Mumbai - 400053, Maharashtra, India

Tel No.:

91-22-66924848

Fax No.:

91-22-66990940

Email :

eil.marketing@enerconindia.net

 

 

Factory 2 :

Concrete Tower Factory

Plot No 610 / 611, Village Sadodar, Taluka : Jamjodapur, District Jamnagar – 360520, Gujarat, India

Tel. No.:

91-2898-262372 / 262545 / 262547

Fax No.:

91-2898-262374

 

 

Branch/ Marketing Offices:

Located at:

 

·         Pune

·         Chennai

·         Bangalore

·         Hyderabad

·         Coimbatore

·         Ahmedabad

·         Jaipur

·         New Delhi

·         Vadodara

 

 

DIRECTORS

 

As on 30.09.2007

 

Name :

Mr. Yogesh Jogindernath Mehra

Designation :

Managing Director

Address:

201, Hare Krishna, Presidency Society, North South Road No. 8, Vile Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

01.12.1959

Qualification

B.Com

Date of Appointment:

10.05.1993

 

 

Name :

Mr. Ajay Jogindernath Mehra

Designation :

Whole Time Director

Address:

301, Hare Krishna, Presidency Society, North South Road No. 8, Vile Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

06.12.1955

Qualification  

B.Sc

Date of Appointment:

10.05.1993

 

 

Name :

Mr. Kettwing Hans Dieter

Designation :

Director

Address:

Dreekamp-5, 26605, Aurich, Germany

Indian Address

Enercon Tower, Plot No. A-9, Veera Industrial Estate, Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

23.11.1957

Date of Appointment:

11.03.2002

 

 

Name :

Mr. Aloys Wobben

Designation :

Chairman

Address:

Dreekamp-5, 26605, Aurich, Germany

Indian Address

Enercon Tower, Plot No. A-9, Veera Industrial Estate, Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

22.01.1952

Date of Appointment:

24.02.1944

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2007

 

Names of Shareholders

No. of Shares

Percentage of Holding

Enercon GmbH, Germany

4032000

56.00

Mehra J Sudarshan

896000

12.44

Mehra J Ajay

680000

9.44

Mehra Ajay Meenakshi

432000

6.00

Mehra J Yogesh

832000

11.56

Mehra Yogesh Radhika

304000

4.22

Mehra Ajay Sitakshi

16000

0.22

Mehra Ajay Siddharth

8000

0.11

Total

7200000

100.00

 

 

 

As on 30.09.2007

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Foreign holdings (Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

56.00

Directors or relatives of Directors

44.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Wind Mills.

 

 

Products :

·         Wind Mills Accessories and Parts

·         Rotor Blade

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

--

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

·         Axis Bank Limited,  Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad – 380006, Gujarat, India

 

·         Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

 

·         IDFC Limited, KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India

 

·         The Royal Bank of Scotland N.V. Hansalaya Building, 15, Barakhamba Road, New Delhi - 110001, India

 

 

Facilities :

Secured Loans

31.03.2007

(Unaudited)

(Rs. in million)

31.03.2006

(Unaudited)

(Rs. in million)

a) From Banks

 

 

Cash Credit Accounts

1427.511

60.074

Working Capital Demand Loans

1823.861

1450.000

Interest Accrued and Due

0.000

2.130

Long Term Indian Currency Loans – IDBI Bank

(Repayable within one year Rs.100.000 million (Previous year Rs.50.000 million))

350.000

175.000

B) From Financial Institutions

 

 

Long Term Indian Currency Loans - Infrastructure Development Finance Company Limited

(Repayable within one year Rs.173.978 Million (Previous Year Rs.137.900 Million))

682.311

822.400

Long Term Foreign Currency Loans

(Repayable within one year Rs.178.724 Million (previous Year Rs.122.254 Million))

1119.064

745.729

C) Lease Obligation

 

 

Vehicle Loans

4.870

11.354

Plant and Machinery Loans

2.995

15.352

Office Equipment’s Loans

42.676

1.525

Total

5453.288

3283.564

 

Note

 

1.     Secured Loans from banks and financial institutions are secured against hypothecation of current assets, equitable mortgage of land and building at Daman, hypothecation of Movable Fixed Assets of Unit I, Unit II, Concrete Tower Facility, Pledged of Investments in Enercon Wind Farms (India) Limited and personal guarantee form the Indian Directors.

2.     Loan from Infrastructure Development Finance Company Limited is secured by:

  1. A First charge by way of hypothecation/ mortgage over all the moveable and immovable assets (including tangible and intangible present and future) of the erstwhile GIWFL (Amalgamated company), pertaining to Wind Farms.
  2. A First Chare by way of assignment of the right and interest of the erstwhile GIWFL (Amalgamated Company), as the case may be, to and under all project documents.
  3. A First charge by way of assignment of the right, title and interest of the erstwhile GIWFL (Amalgamated Company) to and under all the government permits, licenses, authorization, insurance contracts relating to project assets.
  4. An Exclusive chare on all the receivables of the erstwhile GIWFL (Amalgamated Company). 

The vehicle loans, Plant and Machinery Loans and Office Equipments Loans under lease obligations are secured against hypothecation of the respective assets.

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

12, Dr. Annie Besant Road, Opposite Shivsagar Estate, Worli, Mumbai – 400 018, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AACFD4815A 

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company :

Enercon GmbH, Germany

 

 

CAPITAL STRUCTURE

 

As on 31.03.2007

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9000000

Equity shares

Rs.10/- each

Rs.90.000 Millions

1500000

9% Non-Convertible Cumulative Redeemable Preference Shares

Rs.100/- each

Rs.150.000 Millions

 

Total

 

Rs.240.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7200000

Equity Shares

Rs.10/- each

Rs.72.000 Millions

 

 

 

 

 

(Out of the above, 403200 Equity Shares of Rs.10/- each full paid up are held by Enercon GmbH – Holding Company)

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

72.000

117.000

162.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

4519.135

3750.109

2586.611

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

 4591.135

3867.109

2748.611

LOAN FUNDS

 

 

 

1] Secured Loans

5453.288

3283.564

2015.284

2] Unsecured Loans

2851.413

569.024

1315.492

TOTAL BORROWING

8304.701

3852.588

3330.776

DEFERRED TAX LIABILITIES

500.014

385.014

208.280

 

 

 

 

TOTAL

13395.850

8104.711

6287.667

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

5105.044

2887.111

1200.538

Capital work-in-progress

845.537

698.843

89.163

 

 

 

 

Pending Allocation 

0.000

0.000

1.105

 

 

 

 

INVESTMENT

2340.748

1178.294

1071.608

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
5469.493
3438.058

3951.785

 

Sundry Debtors
4116.311
3967.497

4085.839

 

Cash & Bank Balances
2391.528
2097.460

261.249

 

Other Current Assets
42.362
26.835

7.301

 

Loans & Advances
4007.577
2183.166

1350.682

Total Current Assets
16027.271
11713.016

9656.856

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

Sundry Creditors

2414.126

1300.108

5373.948

 

Other Current Liabilities
7897.847
6911.184

 

 

Provisions
610.777
161.261

357.655

Total Current Liabilities
10922.750
8372.553

5731.603

Net Current Assets
5104.521
3340.463

3925.253

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

13395.850

8104.711

6287.667

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

 

SALES

 

 

 

 

 

Sales and Services

21457.490

16726.763

8831.890

 

 

Other Income

1084.541

150.946

72.098

 

 

TOTAL                                     (A)

22542.031

16877.709

8903.988

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

16834.365

12801.055

0.000

 

 

Manufacturing and Other Expenses

3611.004

2067.835

1461.222

 

 

Consumption of Raw material and Bought out components

0.000

0.000

7933.113

 

 

Increase / Decrease in Finished Goods

0.000

0.000

(1590.162)

 

 

TOTAL                                     (B)

20445.369

14868.890

7804.173

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

2096.662

2008.819

1099.815

 

 

 

 

 

Less

INTEREST                                                         (D)

801.827

439.600

269.860

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

1294.835

1569.219

829.955

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

333.013

150.891

80.731

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

961.822

1418.328

749.224

 

 

 

 

 

Less

TAX                                                                  (H)

189.239

233.739

174.200

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

772.583

1184.589

575.024

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

2353.147

1149.524

587.397

 

 

 

 

 

Add

ADJUSTMENT OF PROFIT/LOSS OF AMALGAMATING COMPANIES (NET)

0.000

27.116

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Preference Dividend 

3.040

7.088

11.138

 

 

Corporate Dividend Tax on Proposed Preference Dividend

0.517

0.994

1.759

 

BALANCE CARRIED TO THE B/S

3122.173

2353.147

1149.524

 

 

 

 

 

 

Earnings Per Share (Rs.)

63.50

163.40

78.07

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

Net Profit Margin

(PAT/Sales)

(%)

3.60

7.08

6.51

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

9.77

12.01

12.45

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
0.34

9.71

6.90

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
021

0.37

0.27

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
1.81

1.00

1.21

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.47

1.40

1.68

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

 

31.03.2005

 

31.03.2006 (Unaudited)

31.03.2007 (Unaudited)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

162.000

117.000

72.000

Reserves and Surplus

2586.611

3750.109

4519.135

Net worth

2748.611

3867.109

4591.135

 

 

 

 

Secured Loans

2015.284

3283.564

5453.288

Unsecured Loans

1315.492

569.024

2851.413

Total borrowings

3330.776

3852.588

8304.701

Debt/Equity ratio

1.212

0.996

1.809

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

 

31.03.2005

 

31.03.2006 (Unaudited)

31.03.2007 (Unaudited)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

8831.890

16726.763

21457.490

 

 

89.391

28.282

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 

31.03.2005

 

31.03.2006 (Unaudited)

31.03.2007 (Unaudited)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

8831.890

16726.763

21457.490

Profit

575.024

1184.589

772.583

 

6.51%

7.08%

3.60%

 

 

 

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 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

Yes

25]

Conduct of the banking account

--

26]

Buyer visit details

--

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

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

PRESENTATION DATE: 19/12/2014

STAMP NO:- CPL/974/2014

FILING DATE:-

19/12/2014

REG. NO.: CP/300/2015

REG. DATE: 27/03/2015

PETITIONER:-

ALLCARGO LOGISTICS LIMITED

RESPONDENT:-

WIND WORLD (INDIA) LIMITED

PETN.ADV:-

D. H. LAW ASSOCIATES (680)

RESP. ADV.:

0

DISTRICT:-

MUMBAI

BENCH:-

SINGLE

 

 

STATUS:-

PRE-ADMISSION

CATEGORY:-

COMPANY PETITION U/SEC 433, 434, 439 COMPANIES ACT

NEXT DATE:-

20/04/2015

STAGE:-

FOR ADMISSION – FRESH [ORIGINAL SIDE MATTERS]

CORAM:-

HON’BLE SHRI JUSTICE S.J. KATHAWALLA

LAST DATE:-

30/03/2015

STAGE:-

FOR ACCEPTANCE

LAST CORAM:-

HON’BLE SHRI JUSTICE S.J. KATHAWALLS

 

 

ACT:-

COMPANIES ACT AND RULES 1956

UNDER SECTION:-

433, 434 AND 39

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10548381

15/01/2015

3,564,500,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, N.G.N. VAIDYA MARG, HORNIMAN 
CIRCLE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

C43155050

2

10538176

19/12/2014

275,000,000.00

AXIS BANK LIMITED

CORPORATE BANKING BRANCH, GROUND FLOOR, AXIS HOUSE, BOMBAY DYEING MILL COMPOUND, P.B MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C37803285

3

10511169

24/06/2014

150,000,000.00

AXIS BANK LIMITED

CORPORATE BANKING BRANCH, GROUND FLOOR, AXIS HOUSE, BOMBAY DYEING MILL COMPOUND, P.B MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA

C13699285

4

10375827

23/07/2012

160,000,000.00

THE ROYAL BANK OF SCOTLAND N.V.

HANSALAYA BUILDING, 15, BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA

B57840720

5

10372764

03/07/2012

1,750,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. 
ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 
400018, INDIA

B56456361

6

10367034

19/07/2012 *

400,000,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, 
MAHARASHTRA - 400001, INDIA

B55799522

7

10349565

31/03/2012

1,000,000,000.00

CENTRAL BANK OF INDIA LIMITED

CHANDER MUKHI, NARIMAN POINT, MUMBAI, MAHARASHTRA 
- 400021, INDIA

B37542917

8

10349570

28/03/2012

500,000,000.00

AXIS BANK LIMITED

CORPORATE BANKING BRANCH, AXIS HOUSE, GROUND FLR, 
WADIA INTL CENTRE, P.B. MARG, WORLI, MUMBAI, MA 
HARASHTRA - 400025, INDIA

B37544194

9

10322723

22/11/2011

140,270,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA

B27706993

10

10307860

20/09/2011

98,362,500.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA

B21297353

11

10307923

28/08/2011

12,329,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA

B21324314

12

10301200

07/08/2012 *

650,000,000.00

IDFC LIMITED

KRM TOWER, 8TH FLOOR,, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI, TAMILNADU - 600031, INDIA

B57106940

13

10294126

02/07/2011

200,000,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA

B15789266

14

10294127

27/06/2011 *

2,000,000,000.00

ORIENTAL BANK OF COMMERCE

SHREEJI CHAMBERS, TATA ROAD NO. 2, OPERA HOUSE, 
MUMBAI, MAHARASHTRA - 400004, INDIA

B16319741

15

10293533

08/06/2011

630,000,000.00

ORIENTAL BANK OF COMMERCE

SHREEJI CHAMBERS, TATA ROAD NO. 2, OPERA HOUSE, 
MUMBAI, MAHARASHTRA - 400004, INDIA

B15466279

16

10298051

05/05/2012 *

24,770,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

B40380693

17

10127687

07/10/2008

320,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

A48977441

18

10126503

07/10/2008

978,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

A49193709

19

10121989

04/09/2008

535,000,000.00

INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED

ITC CENTRE, 3RD FLOOR760, ANNA SALAI,, CHENNAI - 
600 002, CHENNAI - 600 002, TAMIL NADU - 600002, INDIA

A45631686

20

10098862

17/03/2008

500,000,000.00

INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A35274612

21

10098940

20/11/2007

750,000,000.00

ING VYSYA BANK LTD

MITTAL TOWERS A -WING, , GROUND FLOOR 210 NARIMAN POINT , MUMBAI, MAHARASHTRA - 400021, INDIA

A35273366

22

10102158

20/11/2007

970,000,000.00

AXIS BANK LTD.

ROYAL ACCORD IV, LOKHANDWALA COMPLEX, ANDHERI (WEST), MUMBAI, MAHARASHTRA - 400053, INDIA

A37321932

23

10085339

20/11/2007

1,100,000,000.00

ABN AMRO

31-32, SAKHAR BHAVAN, NARIMAN POINT, MUMBAI, MA 
HARASHTRA - 400002, INDIA

A29207826

24

10098616

20/11/2007

1,450,000,000.00

STATE BANK OF HYDERABAD

11-C, FIRST FLOOR,, 210, NARIMAN POINT,, MUMBAI, 
MAHARASHTRA - 400002, INDIA

A34859454

25

10117027

20/11/2007

1,450,000,000.00

CANARA BANK

CORPORATE SERVICE BRANCH, DALAMAL TOWERS, B WING, I FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

A33934472

26

10117026

20/11/2007

1,930,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, N.G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA

A33644220

27

10102157

20/11/2007

1,950,000,000.00

STATE BANK OF PATIALA

ATLANTA BUILDING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

A37321262

28

10102636

20/11/2007

2,500,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A38475570

29

10148247

20/11/2007

3,165,600,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

A45073889

30

10062650

20/07/2007

500,000,000.00

INDUSTRIAL DEVELOPMENT BANK OF INDIA

INDIAN RED CROSS SOCIETY BUILDING 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA

A19479070

31

10055740

25/06/2007

1,060,000,000.00

RABO INDIA FINANCE LIMITED

1A JANPATH, NEW DELHI - 110001, INDIA

A16908246

32

90077733

15/07/2005

2,861,460.00

SREI INTERNATIONAL BANK LTD.

VISHWAKARMA, TOPASIA ROAD (SOUTH), KOLKATTA, WEST BENGAL - 700046, INDIA

-

33

90076519

30/03/2005

500,000,000.00

INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED

IDBI TOWER; WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

34

90076917

15/03/2005

1,680,000.00

SREI INFRASTRUCTURE FINANCE LIMITED

VISHWAKARMA 86C, TOPSIA ROAD; SOUTH, KOLKATTA, WEST BENGAL - 700046, INDIA

-

35

90076905

01/01/2005

4,500,000.00

SREI INTERNATIONAL FINANCE LIMITED

VISHWAKARMA 86C, TOPSIA ROAD; SOUTH, KOLKATTA, WEST BENGAL - 700046, INDIA

-

36

90076900

14/12/2004

3,598,940.00

SREI INTERNATIONAL FINANCE LIMITED

VISHWAKARMA 86C, TOPSIA ROAD; SOUTH, KOLKATTA, WEST BENGAL - 700046, INDIA

-

37

90076894

01/11/2004

2,003,144.00

SREI INTERNATIONAL FINANCE LIMITED

VISHWAKARMA 86C, TOPSIA ROAD; SOUTH, KOLKATTA, WEST BENGAL - 700046, INDIA

-

38

90076887

06/09/2004

521,600.00

SREI INTERNATIONAL FINANCE LIMITED

VISHWAKARAMA 86C, TOPSA ROAD; SOUTH, KOLKATTA, WEST BENGAL - 700046, INDIA

-

39

90076471

07/07/2006 *

430,000,000.00

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK BA

77 ROBINSON ROAD #09-00, SIA BUILDING,, SINGAPORE, 
- 068896, SINGAPORE

-

40

90076469

18/08/2004

8,858,000.00

KOEDITAOSTALT FUR WIEDERAUTBAU

PALAMENGARTENSTRASSE, 5-9; FRANKUFURLLAM MAIN, GERMANY

-

41

90076882

22/07/2004

1,043,200.00

SREI INTERNATIONAL FINANCE LIMITED

VISHWAKARMA 86C, TOPSIA ROAD; SOUTH, KOLKATTA, WEST BENGAL - 700046, INDIA

-

42

90077617

17/07/2004

2,675,250.00

ICICI BANK LTD.

ZENTH HOUSE; KESHAVRAO KHYADE MARG, MAHALAXMI, MUMBAI, MAHARASHTRA - 400034, INDIA

-

43

90077613

08/07/2004

1,730,750.00

ORIX AUTO AND BUSINESS SOLUTIONS LIMITED

PLOT. NO. 94; MAROL CO-OPERATIVE INDUSTRIAL ESTATE, ANDHERI KURLA ROAD; ANDHERI (EAST), MUMBAI, MAHARA 
SHTRA - 400059, INDIA

-

44

90077602

01/06/2004

2,088,000.00

ICICI BANK LTD.

ZENTH HOUSE; KESHAVRAO KHYADE MARG, MAHALAXMI, MUMBAI, MAHARASHTRA - 400034, INDIA

-

45

90077599

15/05/2004

1,640,000.00

ICICI BANK LTD.

ZENTH HOUSE; KESHAVRAO KHYADE MARG, MAHALAXMI, MU 
MBAI, MAHARASHTRA - 400034, INDIA

-

46

90077590

29/03/2004

1,059,950.00

ICICI BANK LTD.

ZENTH HOUSE; KESHAVRAO KHYADE MARG, MAHALAXMI, MUMBAI, MAHARASHTRA - 400034, INDIA

-

47

90077579

03/03/2004

965,637.00

ORIX AUTO AND BUSINESS SOLUTIONS LIMITED

PLOT NO. 94; MAROL CO-OPERATIVE INDUSTRIAL ESTATE, 
ANDHERI KURLA ROAD; ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400059, INDIA

-

48

90077570

02/01/2004

720,000.00

ICICI BANK LTD.

ICICI TOWES; BANDRA, KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA

-

49

90076395

23/12/2002

50,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE, WORLD TRADE CENTRE; CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

50

90077435

07/05/2001

225,000,000.00

UTI BANK LIMITED

ANDHERI (EAST), MUMBAI, MAHARASHTRA, INDIA

-

 

* Date of charge modification

 

 

change of address

 

The address of the Registered Office of company has been shifted from Kolsite House, Plot No. 31, Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai - 400053, Maharashtra, India to the Present address w.e.f. 22.05.2003

 

 

UNSECURED LOANS

 

Particular

As on 31.03.2007

(Unaudited)

Rs. in millions

As on 31.03.2006

(Unaudited)

Rs. in millions

From Banks

 

 

Short Term Loans

(Repayable within one year Rs. Nil (previous year Rs.100.000 millions)

0.000

100.000

Long Term Loan

(Repayable within one year Rs.100.000 Millions (Previous Year Rs.NIL)

300.000

300.000

 

 

 

Long Term Indian Currency Loans – SBI Bank

(Repayable within one year Rs.30.000 Millions  Previous year Rs. Nil)

302.739

0.000

Long Term Foreign Currency Loans – ICICI Bank

(Repayable within one year Rs. Nil  Previous year Rs. Nil)

869.587

0.000

 

 

 

From Financial Institutions

 

 

Short Term India Currency Loans – Infrastructure Development Finance Company Limited

(Repayable within one year Rs.336.800 Millions Previous year Rs. Nil)

336.800

0.000

b) From Foreign Financial Institutions

 

 

Short Term Foreign Currency Loan

(Repayable within one year Rs.927.559 Millions (Previous year Rs. Nil))

927.559

0.000

Long Term Foreign Currency Loan

(Repayable within one year Rs.38.243 Millions (Previous year Rs.51.342 Millions)

114.728

169.024

Total

2851.413

569.024

 

Note

 

i.        Unsecured Loans from Foreign Financial Institutions are guaranteed by corporate guarantee of Holding Company and the personal guarantee form the Indian Directors. Unsecured Loans from Local Banks are guaranteed by the personal guarantee from the Indian directors.

 

ii.        Long Term Loan From State Bank of India and ICICI Bank are secured term loans as per the agreements entered into with the respective banks. However, pending creation of charge on the security and registration of the same with ROC, same has been classified as unsecured loan.

 

 

 Fixed Assets

 

Owned Assets

 

·         Free Hold Land

·         Building

·         Plant and Machinery

·         Wind Energy Converter

·         Sub Station

·         Furniture, Fixture and Office Equipments

·         Vehicles

 

Leased Assets

·         Plant and Machinery

·         Vehicles

·         Office Equipments

 

 

PRESS RELEASE

 

WIND WORLD TAKES NUMBER 1 SLOT IN INDIA

 

Wind World took first place from Suzlon after installing 454MW in 2012. Suzlon installed 415MW, while Powertech followed in third place on 273MW.

 

Further down, Vestas installed 34MW, an 87% fall on 2011. However, last year Vestas announced it was substantially reducing its sales efforts in India and was largely confining its activities to operations and maintenance.

 

The success of Wind World follows its rebrand at the end of last year. The company primarily supplies sub-1MW turbines using Enercon designs. But it has been involved in a legal dispute with Enercon since German manufacturer and former partner Enercon cancelled a licensing agreement between the two companies in 2007.

 

This dispute has included the use of the Enercon name and the German company's efforts to enforce a change. Speaking about the changes, Wind World India managing director Yogesh Mehra said that the domain name was acquired on 20 November 2012 and the change took place as of 1 January 2013.

 

"The company structure and share ownership structure remain the same as before," Mehra said.

 

Overall, wind installations in India fell 47% to 1.7GW due to issues over the country's incentive programme.

 

Although the country's colossal growth in energy demand means that long-term prospects for wind remain good, there is considerable uncertainty in the short-term as the industry waits for the government to reinstate financial support.

 

 

SUZLON REGIONS TOP POSITION IN INDIA WIND-TURBINE MARKET

 

Suzlon Energy Limited (SUEL) regained its position as India’s top wind-turbine supplier from Wind World (India) Limited as agreements to reschedule its debt allowed it to complete orders in a resurgent market.

 

The Pune-based company installed 403 megawatts of turbines out of an industry total of 2,055 megawatts in the year ended March 31, according to data compiled by the Indian Wind Turbine Manufacturers’ Association and obtained by Bloomberg News. IWTMA Secretary-General D.V. Giri verified the figures.

 

Spain’s Gamesa Corp Tecnologica SA (GAM) climbed four spots to No. 2 with 396 megawatts of installations, almost quadruple the previous year, according to the figures. Mumbai-based Wind World, formerly known as Enercon (India) Ltd., dropped to third place with 354 megawatts.

 

Turbine makers are benefiting from India’s decision in August to revive a subsidy that is helping Asia’s second-biggest wind market recover from a record 42 percent drop in installations in the fiscal year ended March 2013. Installations in 2014 are set to rise 35 percent to 2.3 gigawatts, according to Shantanu Jaiswal, a New Delhi-based wind analyst for Bloomberg New Energy Finance.

 

LOST SPOT

 

Suzlon lost the top spot last year for the first time in at least a decade as it struggled to carry out orders after committing India’s biggest convertible-bond default. The company’s shares have almost tripled since January, leading gains in global wind-energy stocks, on expectation that a five-year extension on bond repayments and a new, pro clean-energy government in India will help it recover. Suzlon fell 2.1 percent to 29.85 rupees in Mumbai today.

 

Suzlon’s share of the market has steadily decreased since 2010 from 50 percent to 20 percent as newer entrants including Gamesa and General Electric Co. (GE) expanded their foothold. Gamesa tripled its share to 19 percent from the previous year.

 

Denmark’s Vestas Wind Systems A/S (VWS), the world’s biggest wind-turbine maker and one of the first to enter the Indian market, installed 80 megawatts to retain the seventh position.

 

 

 

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.62.37

UK Pound

1

Rs.92.44

Euro

1

Rs.66.56

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

2

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

26

 

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

 

--

 

 

 

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.