MIRA INFORM REPORT
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Report No. : |
331271 |
|
Report Date : |
13.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
LIFE INSURANCE CORPORATION OF INDIA |
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Registered
Office : |
Yogakshema, Jeevan Bima Road, Mumbai – 400021, Maharashtra |
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Tel. No.: |
91-22-66598471/22028307/22839867 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
1956 |
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Capital Investment
/ Paid-up Capital : |
Rs.1000.000 Million |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Corporation |
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Line of Business
: |
Providing Insurance Services. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (77) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a one of oldest and reputed insurance company in India. It
is a well-established company having fine track record. The rating takes into consideration LIC’s well-established track
record of business operation and strong financial risk profile of the
company. Trade relations are reported to be trust worthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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 DECLINED
Management Non-Cooperative (91-22-66598471)
LOCATIONS
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Central Office /
Western Zonal Office : |
Yogakshema, Jeevan Bima Road, Mumbai – 400021, Maharashtra, India |
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Tel. No.: |
91-22-66598471/22028307/22839867/66598816 |
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Fax No.: |
91-22-22821048/22810699 |
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E-Mail : |
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Website : |
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Divisional Office: |
O.S Department, 3rd Floor, East Wing. “Yogakshema”, Jeevan Bima Marg, Mumbai – 400 021, Maharashtra,
India |
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Tel. No.: |
91-22-66598000/66599243 |
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Fax No.: |
91-22-22024608 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Sakrker Sushobhan |
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Designation : |
Managing director |
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Name : |
Mr. V.K.Sharma |
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Designation : |
Managing Director |
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Name : |
Mrs. Usha Sangwan |
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Designation : |
Managing Director |
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Name : |
Mr. S.B. Mainak |
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Designation : |
Managing Director |
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Name : |
Mr. Shinde R. G. |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Shri Ganesh K. |
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Designation : |
ED(CRM),CO, Mumbai |
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Name : |
Shri Kumar M.R. |
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Designation : |
ED(PERS),CO, Mumbai |
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Name : |
Shri Anand Vipin |
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Designation : |
ED(DMKT),CO, Mumbai |
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Name : |
Shri Sahoo A. K. |
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Designation : |
ZM(IIC),ZO, Hyderabad |
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Name : |
Shri BaIakrishnan M.R. |
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Designation : |
PrincipaI,ZTC, Chennai |
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Name : |
Shri Hariharan S. |
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Designation : |
Chief Exec.(LICPENF),CO , Mumbai |
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Name : |
Shri AgatwaI Niraj |
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Designation : |
ED(CCICPINPRJ),CO, Mumbai |
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Name : |
Shri Singh A. P. |
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Designation : |
ZM(IIC),ZO, New Delhi |
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Name : |
Shri ChawIa N. P. |
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Designation : |
ZM(IIC),ZO,Patna |
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Name : |
Shri KandwaI Rajesh |
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Designation : |
PrincipaI,ZTC, Gurgaon |
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Name : |
Shri Sathya Kumar V. |
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Designation : |
ED(MINS),CO, Mumbai |
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Name : |
Shri Rathi S. C. |
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Designation : |
ED(AUDIT),CO, Mumbai |
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Name : |
Shri SuseeI Kurnar T. C. |
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Designation : |
ED(MBAC),CO, Mumbai |
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Name : |
Shri Bhargava H. |
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Designation : |
ZM(lIC),ZO, Kolkata |
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Name : |
Shri Sathe N. B. |
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Designation : |
CE (LICNMFAMC),CO, Mumbai |
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Name : |
Shri Gupta Mukesh Kumar |
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Designation : |
Director,MDC, Mumbai |
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Name : |
Shri Amit Yadav |
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Designation : |
ED(ENGG.),CO, Mumbai |
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Name : |
Shri Raj Kumar |
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Designation : |
ED(E&OSISBUE),CO, Mumbai |
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Name : |
Shrl VenugopaI B. |
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Designation : |
ED(lTIBPR),CO, Mumbai |
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Name : |
Shrl Kutumbe P. H. |
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Designation : |
ED(INVO),CO, Mumbai |
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Name : |
Shri Sah V. |
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Designation : |
ZM(lIC),ZO, Mumbai |
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Name : |
Shri Bandopadhyay S. |
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Designation : |
ED(INVM),CO, Mumbai |
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Name : |
Shri Srivastava S. |
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Designation : |
Secy.GenI.(Ill),CO, Mumbai |
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Name : |
Shri Bhattacharya S. N. |
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Designation : |
ED(MKTGIPDEV),CO, Mumbai |
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Name : |
Shri Rath P. K. |
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Designation : |
Director(lII).CO. Mumbai (Ins. Academy) |
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Name : |
Shri Shashikumar H. S. |
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Designation : |
ED(HINS),CO, Hyderabad |
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Name : |
Kum. Dikhale S.S. |
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Designation : |
ED(RTIICPIO),CO, Mumbai |
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Name : |
Shri Ravichandran R. |
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Designation : |
PrincipaI, nC, Hyderabad |
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Name : |
Smt. Sharma Sunita |
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Designation : |
MD & Chief Exec.(L1CHFL),CO1Mumbai |
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Name : |
Shri Thamodharan R. |
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Designation : |
MD & CEO(FGN),Bahrain |
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Name : |
Smt. Bhattacharya R. |
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Designation : |
ED(HRDIOD),CO, Mumbai |
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Name : |
Shri Chandrasekaran V. |
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Designation : |
ED(F&A),CO, Murnbai |
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Name : |
Shri Kabui TT |
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Designation : |
ZM(I/C),ZO, Kanpur |
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Name : |
Shri Prasad Ravishankar |
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Designation : |
ED(CLIA),CO, Murnbai |
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Name : |
Shri Kunnel Prem |
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Designation : |
Principal, ZTC, Agra |
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Name : |
Kum. Sahdev Kiran |
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Designation : |
ED(BDSIGJF),CO, Mumbai |
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Name : |
Shri Chawla G.S. |
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Designation : |
Chief (ITSD),CO, Mumbai |
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Name : |
Shri Chaudhary Ravi |
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Designation : |
C.V.O,CO, Mumbai |
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Name : |
Shri Kumar Rakesh |
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Designation : |
RM(P&IR),ZO, New Delhi |
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Name : |
Shri Nallakuttalam S. |
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Designation : |
ED(INSP),CO, Mumbai |
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Name : |
Smt. Nalini M. Ratnam |
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Designation : |
Chief (LIASION),CO, New Delhi |
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Name : |
Smt. Kurup H.L. |
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Designation : |
Principal, ZTC, Akurdi |
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Name : |
Shri Pangtey Dinesh K. |
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Designation : |
RM(MKTG),ZO, Mumbai |
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Name : |
Shri Venugopal P. |
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Designation : |
Principal, ZTC, Bhopal |
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Name : |
Shri Mohanty D. P. |
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Designation : |
RM(P&IR),ZO, Kolkata |
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Name : |
Shri Nagnyal K.S. |
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Designation : |
ZM(IIC),ZO, Bhopal |
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Name : |
Shri Chaturvedi R. |
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Designation : |
Genl. Manager(LICHFL),CO, Mumbai |
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Name : |
Shri Vikas Rao C. |
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Designation : |
ED(P&GS),CO, Mumbai |
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Name : |
Shri Singh S.C. |
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Designation : |
RM(P&GS),ZO, Kolkata |
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Name : |
Shri Sitharthan T. |
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Designation : |
ZM(IIC),ZO. Chennai |
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Name : |
Shri Rajivan Nair K. |
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Designation : |
RM(E&OS),ZO, Chennai |
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Name : |
Shri Datta R.C. |
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Designation : |
Chief(SBA), CO, Mumbai |
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Name : |
Shri Anil Kumar J. |
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Designation : |
RM(E&OS), ZO, Patna |
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Name : |
Shrl Das D. |
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Designation : |
RM(EST.), ZO, Kolkata |
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Name : |
Shrl Jaln P. K. |
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Designation : |
RM(EST.), ZO, New Delhi |
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Name : |
Shri Daa S.K. |
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Designation : |
RM(CRM), ZO, Kolkata |
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Name : |
Shri Molri P.K. |
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Designation : |
Chief (F&A), CO, Mumbai |
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Name : |
Shri Ramanarao S.V. |
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Name : |
Kum. Padmaja Bhaskaran |
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Designation : |
Chief Exec.(LICCSL), CO, New Delhi |
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Name : |
Smt. Hindoyar Tarni Shilla |
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Designation : |
RM(P&IR), ZO, Mumbai |
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Name : |
Shri Sood R. K. |
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Designation : |
RM(P&GS), ZO, New Delhi |
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Name : |
Smt. Sarkhel M. |
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Designation : |
Jt. Director, MDC, Murnbai |
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Name : |
Shri Rakesh Kumar |
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Designation : |
C.V.O(OICL), CO, New Delhi |
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Name : |
Smt. Jain Renu |
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Designation : |
Vice Principal, ZTC, Gurgaon |
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Name : |
Shri Vijayaraghavan V. |
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Designation : |
RM(CRM), ZO. Chennai |
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Name : |
Smt. Jayshree A.S. |
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Designation : |
RM(OS), ZO, New Delhi |
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Name : |
Shri Sanjeev Kumar |
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Designation : |
RM(CRM), ZO. New Delhi |
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Name : |
Shri Ravichandran M. |
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Designation : |
RM(MKTG), ZO, Chennai |
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Name : |
Shri Singhal K. K. |
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Designation : |
Chief (INVR),CO, Murnbai |
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Name : |
Shri Rajasekhar S. |
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Designation : |
RM(CRM), ZO, Hyderabad |
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CENTRAL ZONE |
Shri S.K. Roy, Chairman Shri B.S.Yadav Dr.(Srnt)Satyabharna Awasthi Shri Shivendra S. Dhakare Dr. Anil Kutumbale Shri Mahendra Aaher Dr. Anil Kumar Dhagat Shri Praveen Bhowray Shri Yogesh Tamrakar Shri Sushil Kurnar Singhal Shri K. S. Nagnyal, Zonal Manager, Ex-Officio Member |
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EASTERN ZONE |
Shri S.K. Roy, Chairman Shri Dibyendu Baruah Smt. Chaitali Maitra Kurn. Antara Naskar Shri lmpa Longkumer Dr. Pradeep Kr. Basu Dr. Kandarpa Kr. Barman Shri Narayan Bhai(Bhattacharya) Shri Jyotibrata Chatterjee Dr. Pranab Kr. Dhar Dr. Ashok Kr. Patra Shri H. Bhargava, Zonal Manager, Ex-OtTcio Member |
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EAST CENTRAL
ZONE |
Shri S.K. Roy, Chairman Dr. Suman Lal Dr. Bimal Kin kar Mohanty Shri Ravi Prakash Sah Shri Subir Shaw Shri Jaya Prakash Patra Shri Sunil Mehrotra Dr. Dilip Kumar Panda Shri Raj Kumar Jain Shri Banamali Sethy Dr. Ashwini Kumar Suman Shri N P Chawla , Zonal Manager, Ex-Officio Member |
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NORTH CENTRAL
ZONE |
Shri S.K. Roy, Chairman Dr. Mohd. Naved Khan Prof A.K.Mukherjee Shri Manoj Mangal Dr. K.R.Jain Shri Rushiram Mahananda Dr. Veerendra Singh Ms. Sneha Prabha Singh Dr. Bhavana Trivedi Shri T.T.Kabui. Zonal Manager. Ex-Officio Member |
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NORTHERN ZONE |
Shri S.K. Roy, Chairman Ms. Mini Kahlon Shri N. K. Bedhotya Dr. Rafi Ahmed Bhat Shri Baljit Balli Shri Ganesh Meena Dr. Alok Sharma Shri Sanjay Singh Chauhan Shri Sunil Kumar Saggar Shri Ravi Taneja Shri Yashpal Singh Dahiya Shri A. P. Singh , Zonal Manager, Ex-Oficio Member |
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SOUTH CENTRAL
ZONE |
Shri S.K. Roy, Chairman Ms. M. Shanthi Shri R. Anandha Theerthi Dr. Seethalaksmi Ammal Shri P. Muraleedharan Shri G. Murugan Dr. V. K. Vijayakumar Shri V. Ganapathy Ms. C. Anitha Shankar Aravindam Shri R. Vijayamurugan Shri S. Vaidhya Subramanian Shri T. Sitharthan , Zonal Manager, Ex-Off~cioM ember |
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WESTERN ZONE |
Shri S.K. Roy, Chairman Shri Hitesh M. Vyas Dr. Dilip K. Chellani Smt. Padmaja S. Patil Adv. (Ms.) S. S. Noorkar Shri Sanjay J Hukkeri Dr. Ravindra Mundre Dr. Chandrakanf A Hirani Shri Rajan J. Kamat Dr. Bhushan Punani Shri Kiritbhai Gandhi Shri Vinay Sah,Zonal Manager, Ex-Oficio Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Providing Insurance Services. |
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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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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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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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Banking
Relations : |
-- |
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Auditors : |
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Name : |
G. D. Apte and Company Chartered Accountants |
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Address : |
GDA, House, Plot No. 85, Bhusari Colony (Right) Paud Road, Pune –
411038, Maharashtra, India |
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Name : |
Borkar and Muzumdar Chartered Accountants |
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Address : |
21/168, Anand Nagar, OM Ch, Anand Nagar Lane, Vakola, Santacruz
(East), Mumbai – 400055, Maharashtra, India |
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Name : |
Dass Gupta and Associates Chartered Accountants |
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Address : |
B – 4 Gulmohar Park New Delhi - 110049 |
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Name : |
Sarda and Pareek Chartered
Accountants |
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Address : |
Mahavir
Apartment, 3rd Floor, 598, M G Road, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
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Name : |
B.C. Jain and Company Chartered Accountants |
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Address : |
16/77A, Civil Lines, Kanpur – 208001, Uttar Pradesh, India |
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Name : |
Chaturvedi and Company Chartered Accountants |
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Address : |
60, Bentinck Street, Kolkata – 700069, West Bengal, India |
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Name : |
P B Vijayaraghavan and Company Chartered Accountants |
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Address : |
14, (Old No. 27), Cathedral Garden Road, Nungambakkam, Chennai –
600034, Tamil Nadu, India |
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Name : |
O.P. Totla and Company Chartered Accountants |
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Address : |
302, Alankar Point, Geeta Bhavan Square, A.B. road, Indore – 452001,
Madhya Pradesh, India |
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Name : |
Todi Tulsyan and company Chartered Accountants |
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Address : |
602, Luv Kush Tower, Exhibition Road, Patna – 800001, bihar, India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint Ventures: |
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Associate Companies |
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Subsidiary Companies : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Rs.1000.000 Million
Issued, Subscribed & Paid-up Capital : Rs.1000.000
Million
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
Share Capital |
1000.000 |
1000.000 |
1000.000 |
|
Reserves & Surplus |
4300.037 |
4075.719 |
4272.260 |
|
Credit (Debit) Fair Value Change Account |
85.916 |
78.987 |
33.419 |
|
SUB TOTAL |
5385.953 |
5154.706 |
5305.679 |
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BORROWING |
0.000 |
0.000 |
0.000 |
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POLICYHOLDERS FUNDS |
|
|
|
|
Credit (Debit) Fair Value Change Account |
1081911.400 |
832893.244 |
893072.850 |
|
Policy Liabilities |
15292115.597 |
13294392.728 |
11461642.894 |
|
FUNDS FOR DISCONTINUED POLICIES |
|
|
|
|
Discontinued on Account of Non Payment of Premium |
352.917 |
314.703 |
53.757 |
|
Others |
562.134 |
12.781 |
2.798 |
|
Insurance Reserve |
86113.354 |
61305.022 |
62823.871 |
|
Provision for Linked Liabilities |
778121.111 |
1036527.986 |
1378069.211 |
|
SUB TOTAL |
17239176.513 |
15225446.464 |
13795665.381 |
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FUND FOR FUTURE APPROPRIATIONS |
13.125 |
110.664 |
195.167 |
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TOTAL |
17244575.591 |
15230711.834 |
13801166.227 |
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APPLICATION OF FUNDS |
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INVESTMENT |
|
|
|
|
Shareholders |
5080.812 |
4565.933 |
3300.470 |
|
Policyholders |
13898723.872 |
11877752.390 |
10701808.123 |
|
Assets Held To Cover Linked Liabilities |
989881.254 |
1217706.848 |
1529592.153 |
|
Loans |
962750.118 |
909914.056 |
866641.840 |
|
Fixed Assets |
27828.116 |
29721.656 |
28639.090 |
|
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CURRENT ASSETS |
|
|
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Cash and Bank Balance |
880824.139 |
863907.463 |
460331.558 |
|
Advanced and Other Assets |
701341.249 |
572293.609 |
532435.977 |
|
Inter office Balance |
0.000 |
0.000 |
0.000 |
|
SUB TOTAL (A) |
1582165.388
|
1436201.072
|
992767.535
|
|
|
|
|
|
|
CURRENT LIABILITIES |
56080.757 |
81355.743 |
131197.501 |
|
SUNDRY CREDITORS |
0.000 |
0.000 |
28142.633 |
|
PROVISIONS |
165773.212 |
163794.378 |
162242.850 |
|
SUB TOTAL (B) |
221853.969 |
245150.121 |
321582.984 |
|
|
|
|
|
|
NET CURRENT
ASSETS (C) (A-B) |
1360311.419 |
1191050.951 |
671184.551 |
|
MISCELLANEOUS
EXPENDITURE |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
DEBIT BALANCE IN
PROFIT AND LOSS ACCOUNT |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
17244575.591 |
15230711.834 |
13801166.227 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Balance brought
forward from the Policyholders’ Account |
16342.652 |
14363.818 |
12812.290 |
|
|
|
|
|
|
Income from Investments |
|
|
|
|
(a) Interest, Dividends & Rent - Gross |
340.509 |
330.927 |
320.683 |
|
(b) Profit on sale/redemption of investments |
0.000 |
0.000 |
0.000 |
|
(c) (Loss on sale/redemption of investments) |
(0.923) |
(3.532) |
(0.898) |
|
Other Income (To be specified) |
0.000 |
208.038 |
0.000 |
|
|
|
|
|
|
TOTAL (A) |
16682.238 |
14899.251 |
13133.429 |
|
|
|
|
|
|
Expenses other
than those directly related to the insurance business |
0.002 |
0.002 |
0.000 |
|
|
|
|
|
|
Provisions (Other than taxation) |
|
|
|
|
(a) For diminution in the value of investments (Net) |
0.000 |
0.000 |
0.000 |
|
(b) Others (To be specified) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL (B) |
0.000 |
0.002 |
0.000 |
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
16682.238 |
14899.249 |
13133.429 |
|
|
|
|
|
|
PROVISION FOR TAXATION |
115.425 |
523.324 |
0.000 |
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX |
16566.813 |
14375.925 |
13133.429 |
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
(a) Brought
forward Reserve/Surplus from the Balance Sheet |
0.000 |
0.000 |
0.000 |
|
(b) Dividends paid during the year (5% Valuation surplus paid to Central Government) |
0.000 |
0.000 |
0.000 |
|
(c) Proposed final dividend |
16342.652 |
14363.818 |
12812.290 |
|
(d) Dividend Distribution on Tax |
0.000 |
0.000 |
0.000 |
|
(e) Transfer to General Reserve |
224.161 |
12.107 |
321.139 |
|
|
|
|
|
|
PROFIT CARRIED FORWARD TO THE BALANCE SHEET |
0.000 |
0.000 |
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 |
NA |
NA |
NA |
|
Cash generated from operations |
440190.524 |
411628.620 |
597153.973 |
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 |
1000.000 |
1000.000 |
1000.000 |
|
Reserves & Surplus |
4272.260 |
4075.719 |
4300.037 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5272.260 |
5075.719 |
5300.037 |
|
|
|
|
|
|
Borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
13133.429 |
14899.251 |
16682.238 |
|
|
|
13.445 |
11.967 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
13133.429 |
14899.251 |
16682.238 |
|
Profit |
13133.429 |
14375.925 |
16566.813 |
|
|
100.00% |
96.49% |
99.31% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
|
LITIGATION DETAILS |
||||||||||
|
Bench:- Bombay |
||||||||||
|
Presentation Date :- 24/07/2014 |
||||||||||
|
Lodging No. : |
WPL/1963/2014 |
Failing Date:- |
24/07/2014 |
Reg. no.:- |
WP/1941/2014 |
Reg. Date:- |
16/08/2014 |
|||
|
Petitioner:- |
INFRASTRUCTURE LEASING AND FINANCIAL |
Respondent:- |
LIFE INSURANCE CORPORATION OF INDIA |
|||||||
|
Petn.Adv:- |
M/S RMG LAW ASSOCIATES (0) |
Resp. Adv.: |
MS BODHANWALLA AND CO (I2949) |
|||||||
|
District:- |
MUMBAI |
|||||||||
|
Bench:- |
DIVISION |
Category:- |
WRIT PETITION (OTHERS) |
|||||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR CIRCULATION (ORIGINAL SIDE MATTERS) |
|||||||
|
Last Date:- |
08/07/2015 |
|||||||||
|
Coram:- |
HON’BLE SHRI JUSTICE VM. KANADE HON’BLE SHRI JUSTICE B.P. COLABAWALLA |
|
||||||||
|
Last Date:- |
06/01/2015 |
Stage : |
FOR ADMISSION – FRESH [ORIGINAL SIDE MATTERS] |
|||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE V.M. KANADE HON’BLE SMT. JUSTICE R.P. MOHITE-DERE |
|||||||||
|
|
|
|||||||||
|
Act. : |
Debt Tribunal Recovery Act |
|||||||||
ECONOMIC SCENARIO
On the macroeconomic front Indian economy faced major challenges in the year 2013-74 which included unsupportive global environment, domestic structural constraint, growth slowdown and inflationary pressure.
Domestic consumption demand and investment activity remained sluggish, suggesting that economic growth would remain sub-5% for the second consecutive year. The growth slowdown in India is broadly in sync with trends in similar emerging economies. However, the Government was able to keep the fiscal deficit close to the target envisaged for the year.
Despite easing of Wholesaled Price index (WPI), the level of inflation was high, specific in terms of consumer price indices. Inflation is still above the comfort levels of RBI. This is likely for preclude monetary easing in the near term.
There has been significant improvement in the external situation. Current Account Deficit (CAD) narrowed sharply as a percentage of GDP as a result of sharp decline in gold imports, acceleration in growth of exports and decline in imports. Robust inflows by way of Foreign Direct Investment and External Commercial Borrowings kept external financing conditions comfortable and helped add to reserves.
GROSS DOMESTIC
PRODUCTS
GDP (at 2004-2005 prices) in the year 2013-14 is estimated at 57,41,7910.000 Million showing a growth rate of 4.7% as against the growth rate of 4.5% of the previous financial year on account of a heathy agricultural performance.
Growth in Agriculture, Forestry and Fishing stood at 4.7% as compared to 1.4% in the previous fiscal. The Industry showed a growth of 0.4% compared fa growth of 1.0% in 2012-13. Growth in Services though moderated only sighted to 6.8% from T.O%. There was negative growth in general Index of Industria1 Production (IIP) of 0.1 % compared to moderate gmwth of 1 .I % in 2012-13.
On the expenditure side, both Private and Government Consumption came down over last years as percentage of GDP from 60.1% to 60.0% while Gross Fixed Capita[ Formation also declined to 32.3% of GDP from 33.9% in the previous financial year at current prices.
GLOBAL SCENARIO
Global growth has slowed down during the year 2013. But by the end, global economic activities showed some strength and are expected to improve further in coming year.
Among Advanced Economies (AEs), growth in Japan and other Advance Economies improved while that in the US Area contracted. In the euro area, recovery is struggling to gather momentum. Growth in most Emerging Markets and Developing Economies (EMDEs) has declined during the period. Growth in world output declined to 3.0% in 2013 compared to 3.2% in 2012. The overall growth of advanced economies declined to 1.3% from 1.4% while growth in emerging and developing economies also declined to 4.7% in 2013 against 5.0% in 2012. World merchandise trade grew 2.1 % in 201 3 in volume terms compared to increase of 2.3% in the previous year.
During the financial year 2013-14 India's exports registered a growth of 4.07% to US$312.62 billion (18, 94, 1820.000 Million) while imports showed a negative growth of 8.28% to US$450.08 billion (7 27,14,1820.000 Million). The previous year, there was decrease in exports and increase in imports of 1.76% and 0.44% respectively. As a result the trade deficit decreased to US9137.46 billion (T8, 20,000.000 Million) in the year2013-14 a gainst USS190.34 billion (T10, 34,843 cm ) in the previous fiscal. The Current Account Deficit (CAD) declined sharply from a record high of US$ 88.2 bn (4.7 % of GDP) in 2012-13 to US$ 32.4 bn (1.7% of GDP) in 2013-14. Foreign Investment inflows in the capital market were significantly lower at T 85, 5220.000 Million compared to T 1,40,6250.000 Million in the previous year. Foreign Direct Investments were increased by 8.80% while Portfolio Investments decreased by 82.07%. India's External Debt in rupee term was 7 26,50,0310.000 Million (US$440.61 billion) at March 2014 compared to7 22,25,0010.000 Million (US$409.42 billlon) at March 2013. The country's Foreign Exchange Reserves increased to Rs 18,28,3800.000 Million (US$30422 billion) from T 15, 88,420.000 Million (US$292.05 billion).
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Partly paid up Investment |
2.000 |
4.300 |
|
Claims against the corporation not
acknowledge as debt |
340.900 |
296.300 |
|
Statutory demands/liabilities in dispute,
not provide for |
3409.400 |
328.100 |
|
Others |
1633.800 |
1767.500 |
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.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
77 |
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.