MIRA INFORM REPORT
|
Report No. : |
335300 |
|
Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ONGC PETRO ADDITIONS LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, |
|
Tel. No.: |
91-265-6192600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.11.2006 |
|
|
|
|
Com. Reg. No.: |
04-060282 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20219.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209GJ2006PLC060282 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO9200B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the development of a petrochemical plant. It deals with organic, inorganic, or synthetic chemicals and chemical compounds; petrochemicals, polymers, resins, solvents, and other allied chemicals; and derivatives, by-products, co-products, alkalis, acids, and gases, obtained from crude oil, natural gas, and petroleum products. The company undertakes manufacturing, production, processing, conversion, formulation, blending, storing, transportation, warehousing and distribution, sales, and other transactions of these items. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Yet to commence business operation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a multi-billion joint venture company incorporated in 2006,
as a public limited company under the Companies Act 1956. The company has
been promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by
GAIL and GSPC. The subject is yet to commence its commercial operations and incurred
huge development expenses in order to implement the projects. However, capital base of the company appears to be strong. The rating also take into consideration the fund raising capabilities of
the promoting companies. Payment terms are reported to be unknown. In view of strong support of government owned public sector
undertakings, the subject can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2013.
INFORMATION DENIED
Management non co-operative (91-265-6192600)
LOCATIONS
|
Registered / Corporate Office : |
1st Floor, |
|
Tel. No.: |
91-265-6192600 |
|
Fax No.: |
91-265-6192666 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
3rd Floor, |
|
Tel. No.: |
91-11-43199600 |
|
|
|
|
Factory : |
Plot No.Z-1, Z-83, C/o Dahej Sez Limited, P.O. Dahej – 392130, Taluka
Vagra, District Bharuch, Gujarat, India |
DIRECTORS
As on 12.09.2014
|
Name : |
Mr. Mukund Manohar Chitale |
|
Designation : |
Director |
|
Address : |
4/46, Vishnuprasad Society, Shahaji Raje Marg, Vile Parle
(East), Mumbai, 400057, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1949 |
|
Date of Appointment : |
20/03/2008 |
|
DIN No.: |
00101004 |
|
|
|
|
Name : |
Mr. Tapan Durgadas Ray |
|
Designation : |
Director |
|
Address : |
K-16, Government Bunglows, Sector-20, Gandhinagar – 382020, Gujarat,
India |
|
Date of Birth/Age : |
09.09.1957 |
|
Date of Appointment : |
15.01.2010 |
|
DIN No.: |
00728682 |
|
|
|
|
Name : |
Mr. Tapas Kumar Sengupta |
|
Designation : |
Director |
|
Address : |
B-504, Techno Park-Ii, Thakur Village, Kandivali(E), Mumbai, 400101, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1957 |
|
Date of Appointment : |
03/02/2014 |
|
DIN No.: |
06802877 |
|
|
|
|
Name : |
Mr. Bala Chandran Srinivasan |
|
Designation : |
Director |
|
Address : |
Plot No 198 Flat No 301 Kunda Residency Street No4, Op Indian Overseas Bank West Maredpally Nehrunagar, Hyderabad, 500026, Telangana, India |
|
Date of Birth/Age : |
27.08.1946 |
|
Date of Appointment : |
29/11/2010 |
|
DIN No.: |
01962996 |
|
|
|
|
Name : |
Mr. Dinesh Kumar Sarraf |
|
Designation : |
Director |
|
Address : |
B-45, Chhota Singh Block, Asiad Games Village, New Delhi,
110049, Delhi, India |
|
Date of Birth/Age : |
03.09.1957 |
|
Date of Appointment : |
01/03/2014 |
|
DIN No.: |
00147870 |
|
|
|
|
Name : |
Mr. Alok Kumar Banerjee |
|
Designation : |
Director |
|
Address : |
87- Hemkunt colony, 2nd Floor, GK – I, New Delhi – 110048,
India |
|
Date of Birth/Age : |
13.04.1955 |
|
Date of Appointment : |
26.08.2014 |
|
DIN No.: |
5287459 |
|
|
|
|
Name : |
Mr. Mahesh Behari Lal |
|
Designation : |
Director |
|
Address : |
K-2009 Royale Garden Estate E-12 Sector-61, Behind Shopprix
Mall Noida Kwani Buzurj, Chhajarsi Gautam Buddha Nagar, 201307, Uttar
Pradesh, India |
|
Date of Birth/Age : |
12.03.1947 |
|
Date of Appointment : |
23/08/2013 |
|
DIN No.: |
00129965 |
|
|
|
|
Name : |
Mr. Venkatraman Srinivasan |
|
Designation : |
Director |
|
Address : |
E – 85, Bakhtawar Singh, |
|
Date of Birth/Age : |
28.09.1954 |
|
Date of Appointment : |
21.09.2011 |
|
DIN No.: |
03039646 |
|
|
|
|
Name : |
Mr. Ravindran Mathilakath |
|
Designation : |
Director |
|
Address : |
B-803, Nikkasingh Block, Khel Gaon Asian Games Village, New Delhi, 110049, Delhi, India |
|
Date of Birth/Age : |
28.01.1957 |
|
Date of Appointment : |
07/06/2013 |
|
DIN No.: |
02309551 |
KEY EXECUTIVES
|
Name : |
Mr. Subodh Prasad Pankaj |
|
Designation : |
Secretary |
|
Address : |
2B, 1st Floor, Siongle Storey, Ramesh Nagar, New
Delhi-110015, |
|
Date of Birth/Age : |
15.03.1964 |
|
Date of Appointment : |
11.01.2010 |
|
PAN No. : |
AEDPP9426Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Oil and Natural Gas Corporation Limited, New Delhi, India |
|
997955639 |
|
Gujarat State Petroleum Corporation Limited, India |
|
29004033 |
|
Gail (India) Limited, India |
|
994945000 |
|
Shyama Prasad Bandopadhyay |
|
1 |
|
Vijay N Iyah |
|
1 |
|
Vivek Tongaonkar Chandrakant |
|
1 |
|
Dr. PSV Rao |
|
1 |
|
Saket Gupta |
|
5000 |
|
Sunil Arora |
|
4997 |
|
Sunil Kumar Gupta |
|
5000 |
|
|
|
|
|
Total |
|
2021924673 |
Equity Share Break up (Percentage of Total Equity)
As on 12.09.2014
|
Category |
Percentage |
|
Government Companies |
99.99 |
|
Other Top Fifty |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the development of a petrochemical plant. It deals with organic, inorganic, or synthetic chemicals and chemical compounds; petrochemicals, polymers, resins, solvents, and other allied chemicals; and derivatives, by-products, co-products, alkalis, acids, and gases, obtained from crude oil, natural gas, and petroleum products. The company undertakes manufacturing, production, processing, conversion, formulation, blending, storing, transportation, warehousing and distribution, sales, and other transactions of these items. |
|
|
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|
Products : |
Not Available |
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|
|
|
Brand Names : |
Not Available |
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|
Agencies Held : |
Not Available |
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|
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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|
Facilities : |
(Rs.
In Million)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah Mehta and Bakshi Chartered Accountants |
|
Address : |
2nd Floor Prasanna House, Associated Society, Opposite Radha-Krishna Park, Akota, Vadodara – 390020, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFJ1738M |
|
|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
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Joint Venture : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 80000.000 Million |
|
|
|
|
|
Issued, :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33,813,920,910 |
Equity Shares |
Rs.10/- each |
Rs.
33813.921 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,021,929,671 |
Equity Shares |
Rs.10/- each |
Rs. 20219.297 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
20219.300 |
13009.200 |
0.500 |
|
(b) Reserves & Surplus |
(5.730) |
(2.100) |
0.000 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
6709.240 |
3328.690 |
13351.790 |
|
Total
Shareholders’ Funds (1) + (2) |
26922.810 |
16335.790 |
13352.290 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
140046.030 |
16740.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2638.530 |
1769.480 |
325.760 |
|
(d) long-term provisions |
5.560 |
1.420 |
1.160 |
|
Total
Non-current Liabilities (3) |
142690.120 |
18510.900 |
326.920 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
104003.950 |
69949.150 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current liabilities |
25598.110 |
13782.260 |
10302.120 |
|
(d) Short-term provisions |
0.920 |
0.100 |
0.030 |
|
Total
Current Liabilities (4) |
25599.030 |
117786.310 |
80251.300 |
|
|
|
|
|
|
TOTAL |
195211.960 |
152633.000 |
93930.510 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10146.950 |
10529.000 |
10781.560 |
|
(ii) Intangible Assets |
4.270 |
1.330 |
1.410 |
|
(iii) Capital work-in-progress |
141087.290 |
101596.500 |
49457.940 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
36927.440 |
40318.560 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
42.990 |
0.000 |
33653.610 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
188208.940 |
152445.390 |
93894.520 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
6838.940 |
0.180 |
2.930 |
|
(e) Short-term loans and
advances |
140.030 |
162.580 |
22.160 |
|
(f) Other current assets |
24.050 |
24.850 |
10.900 |
|
Total
Current Assets |
7003.020 |
187.610 |
35.990 |
|
|
|
|
|
|
TOTAL |
195211.960 |
152633.000 |
93930.510 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Expenditure on production, transportation and other
expenditure pertaining to E&P activities |
3.630 |
2.100 |
0.000 |
|
|
Amortization Expenses |
0.650 |
0.000 |
0.000 |
|
|
Depletion Expenses |
(411.470) |
0.000 |
0.000 |
|
|
TOTAL
|
(407.190) |
2.100 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
407.190 |
(2.100) |
0.000 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
410.820 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(3.630) |
(2.100) |
0.000 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(3.630) |
(2.100) |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.01) |
(0.01) |
0.000 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
21399.740 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(23053.970) |
(53783.150) |
(35846.520) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.02) |
(0.02) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.00 |
7.39 |
5.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.27 |
0.00 |
0.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.500 |
13009.200 |
20219.300 |
|
Reserves & Surplus |
0.000 |
(2.100) |
(5.730) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
13351.790 |
3328.690 |
6709.240 |
|
Net
worth |
13352.290 |
16335.790 |
26922.810 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
16740.000 |
140046.030 |
|
Short term borrowings |
69949.150 |
104003.950 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
21399.740 |
|
Total
borrowings |
69949.150 |
120743.950 |
161445.770 |
|
Debt/Equity
ratio |
5.239 |
7.391 |
5.997 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from banks |
0.000 |
104003.950 |
|
|
|
|
|
Total |
0.000 |
104003.950 |
CORPORATE INFORMATION
Subject is a joint venture company, was incorporated in 2006, as a Public Limited Company under the Companies
Act, 1956, promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC. The company is developing a Greenfield Petrochemical complex at Dahej SEZ - Gujarat.
FINANCIAL RESULTS
The Company is yet to commence commercial operations. On cash basis, cumulative expenses of Rs.181,535.37 million (Previous Year Rs.153,409.3 million) have been incurred upto 31st March, 2014.
ECONOMIC SCENARIO
GLOBAL AND INDIAN
GLOBAL ECONOMY
After a subdued activity in Financial Year (FY) 2012-2013, the global economy showed signs of modest recovery last fiscal. US showed positive advancement on multiple indicators including demand growth, reduction in fiscal drag and employment creation with major economic indicators demonstrating positive sentiments. While the growth trend is expected to accelerate, one expects potential consequences of tapering' of some of the quantitative easing policies of US Federal Reserve.
The EU zone, which witnessed a recession in 2012; turned the corner from recession to recovery in FY 2013-2014. The pickup is expected to be more modest in economies under stress, despite some upward revisions including Spain. Elsewhere in Europe, activity in the UK has been buoyed by easier credit conditions and increased consumer confidence. Emerging economies like China showed investment led rebounded growth in the second half of the fiscal but is expected to have a softer landing. Policy measures disfavouring shadow banking and higher cost of capital coupled with slower credit growth is expected to have moderated growth for China going forward. Amidst this context, global growth is likely to increase from 3% in 2013 to 3.7% in 2014 and 3.9% in 2015.
INDIAN ECONOMY
A sub-5% growth that we managed to achieve last fiscal, came along with partial unclogging of domestic policy logjam, fiscal drag, plaguing inflation, plunging rupee as well as subdued global growth prospects. With exports competitiveness becoming better while some export oriented sectors started faring better, we witnessed slower manufacturing growth on the back of very slow project implementations.
Gross Fixed Capital Formation which was pegged at Rs. 32.2 trillion at current prices against Rs. 30.7 trillion in 2012-13, shows just a marginal improvement while growth rate in per capita income is estimated at 2.8% against previous year's 2.1%, as per CSO.
Easing inflation coupled with likely global recovery scenario is expected to keep up the consumption led demand generation. The pick-up will be aided by implementation of stalled projects, debottlenecking/revamping of mining sector, power and infrastructure projects and a recovery in industry on higher external demand. A rebound in manufacturing and services growth backed by a recently elected politically stable government is likely to revitalise macro-economic frontiers pushing GDP growth in the coming fiscal.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge
amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10559920 |
27/12/2014 |
6,100,000,000.00 |
Indian Bank |
United India Building ,, Sir P.M Road ,Fort, Mumbai, Maharashtra - 400001, INDIA |
C49413933 |
|
2 |
10558286 |
24/12/2014 |
1,000,000,000.00 |
State Bank of Bikaner And Jaipur |
27,Barakhamba Road, New Delhi, Delhi, Delhi - 110 |
C48488514 |
|
3 |
10558293 |
24/12/2014 |
1,800,000,000.00 |
State Bank of Hyderabad |
Commercial Branch, 74, Janpath, New Delhi, Delhi |
C48494033 |
|
4 |
10558260 |
24/12/2014 |
2,000,000,000.00 |
Oriental Bank of Commerce |
Harsha Bhawan, E Block, Connaught Place, New Delhi, Delhi - 110001, INDIA |
C48469878 |
|
5 |
10558234 |
24/12/2014 |
3,000,000,000.00 |
Corporation Bank |
10th Floor , Hindustan Times House, Kasturba Gandhi Marg, New Delhi, Delhi - 110001, INDIA |
C48452551 |
|
6 |
10558246 |
24/12/2014 |
3,000,000,000.00 |
Bank of Maharashtra |
A-13 , South Extension,, Part-1 , Ring Road,,
New |
C48461487 |
|
7 |
10558266 |
24/12/2014 |
3,000,000,000.00 |
ANDHRA BANK |
16-B, Earnest house, NCPA Marg,, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
C48474688 |
|
8 |
10477178 |
20/12/2013 |
1,000,000,000.00 |
Oriental Bank of Commerce |
Plot 5, Sector 32,, Institutional Area.,
Gurgaon, |
B96177100 |
|
9 |
10504132 |
12/12/2013 |
2,000,000,000.00 |
State Bank Of Travancore |
Poojappura, trivandrum, trivandrum, Kerala - 69501 |
C07282767 |
|
10 |
10504136 |
12/12/2013 |
2,000,000,000.00 |
The Jammu and Kashmir Bank Limited |
Maulana Azad Road, Srinagar, Jammu and Kashmir -
1 |
C07284714 |
*Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Factory building
· Other building
· Plant and equipment
· Factory equipments
· Other plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
· Bridges roads ports culverts
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.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.