MIRA INFORM REPORT
|
Report No. : |
322777 |
|
Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESSAR POWER GUJARAT LIMITED |
|
|
|
|
Registered
Office : |
Salaya Administrative Building, 44 KM, Post Box No. 07, |
|
Tel. No.: |
91-2833-241444 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.04.2007 |
|
|
|
|
Com. Reg. No.: |
04-066273 (New) 11-169703 (Old) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 22435.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900GJ2007PLC066273 (New) U74900MH2007PLC169703 (Old) |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Generation and Distribution of Electricity |
|
|
|
|
No. of Employees
: |
Information denied by management |
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 : |
Slow but correct |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of Essar Power Limited. Management has reported weak capital structure owing to huge external
borrowings, along with consecutive operational loss leading to accumulation
of the same during FY14. The rating also take into consideration the consolidated group
financial status which is deteriorating, witnessing a stretched liquidity
profile during the year under review. However, trade relations seem to be fair. Business is active. Payment terms
are reported as slow but correct. In view of long standing track record and experience of the promoters,
the subject can be considered for business dealings with caution. |
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 |
CARE |
|
Rating |
Long term bank facilities=BB [Suspended] |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
10.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities=A4 [Suspended] |
|
Rating Explanation |
Minimal degree of safety very high credit
risk. |
|
Date |
10.03.2015 |
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 (91-22-66601100)
LOCATIONS
|
Registered Office : |
Salaya Administrative Building, 44 KM, Post Box No. 07, Jamnagar –
Okha Highway, Khambhaliya Jamnagar-361305, Gujarat, India |
|
Tel. No.: |
91-2833-241444 |
|
Fax No.: |
91-2833-241818 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Equinox Business Park, Tower II, 5th Floor, off Bandra
Kurla complex, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra, India |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Ramesh Kumar Ramkrishnan |
|
Designation : |
Managing Director |
|
Address : |
P. No. 2, Patel Enclave, Behind Kalyan Garden, Jai Jawahar Nagar,
Yapral, Secunderabad – 500087, Andhra Pradesh, India |
|
Date of Birth/Age : |
05.07.1961 |
|
Date of Appointment : |
02.08.2013 |
|
DIN No.: |
02123450 |
|
Name : |
Mr. Vijaybhaskara Kalakota Reddy |
|
Designation : |
Director |
|
Address : |
3702-C, Lodha Bellissimo, Apollo Mills Compd., N M Joshi Marg, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1961 |
|
Date of Appointment : |
15.04.2009 |
|
DIN No.: |
01683467 |
|
|
|
|
Name : |
Mr. Jatinder Dinanath Mehra |
|
Designation : |
Director |
|
Address : |
C-1/36, Safdarjung Dev Area, |
|
Date of Birth/Age : |
03.03.1939 |
|
Date of Appointment : |
04.09.2009 |
|
DIN No.: |
00042789 |
|
|
|
|
Name : |
Mr. Venkataraman Venkatesan Singanallur |
|
Designation : |
Director |
|
Address : |
B-1 Palm Wood Appartment, Seshadri Road, Alwarpet, Chennai – 600018,
Tamilnadu, India |
|
Date of Birth/Age : |
09.10.1939 |
|
Date of Appointment : |
04.09.2009 |
|
DIN No.: |
00004010 |
|
|
|
|
Name : |
Mr. Dilip Cherial Oommen |
|
Designation : |
Director |
|
Address : |
D-3/4 Nand Niketan Essar Township, District Hazira, Surat – 394270,
Gujarat, India |
|
Date of Birth/Age : |
28.03.1958 |
|
Date of Appointment : |
04.09.2009 |
|
DIN No.: |
02285794 |
|
Name : |
Vankat Govind Raghavan |
|
Designation : |
Director |
|
Address : |
No. 33, 1 St Cross Street, Classis Orchad, Behind Meemakshi Amman Temple , Bannergatta Road, Bangalore – 560076, Karnataka, India |
|
Date of Birth/Age : |
16.07.1946 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00008683 |
|
|
|
|
Name : |
Rana Som |
|
Designation : |
Director |
|
Address : |
B-256, Asian Games Village, Ganapati Andalkar Block, New Delhi - 110049, India |
|
Date of Birth/Age : |
01.01.1952 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00352904 |
|
|
|
|
Name : |
Firdose vandrevala |
|
Designation : |
Director |
|
Address : |
Lasonrisa 1201, Lakhamsi Napoo Rd,, Dadar East, Mumbai - 400014, Maharashtra, India |
|
Date of Birth/Age : |
17.10.1950 |
|
Date of Appointment : |
23.01.2014 |
|
DIN No.: |
00956609 |
|
|
|
|
Name : |
Mahadev Ramnath Iyer |
|
Designation : |
Director |
|
Address : |
2D, R Block, Belair Apartment, Jokhiram Durgaq Dutt Lane, Main Road, Rachi – 834001, Jharkhand, India |
|
Date of Birth/Age : |
01.07.1958 |
|
Date of Appointment : |
23.01.2014 |
|
DIN No.: |
01871295 |
|
|
|
|
Name : |
Mohanlal Ramgopal Sharma |
|
Designation : |
Director |
|
Address : |
K1693, Partap Street, Chuna Mandi, Pahar Ganj, New Delhi – 110055, India |
|
Date of Birth/Age : |
08.07.1949 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
02724685 |
|
|
|
|
Name : |
Gayathri Sukumar |
|
Designation : |
Additional director |
|
Address : |
1/205, Viman Darshan, Sahar Road, Andheri East, Mumbai - 400069, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07115908 |
KEY EXECUTIVES
|
Name : |
Priyanka Dinesh Jain |
|
Designation : |
Secretary |
|
Address : |
704, A Wing, Gokul Nagari CHSL – 1, 90 Feet Road, Thakur Complex,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1985 |
|
Date of Appointment : |
03.12.2012 |
|
PAN No.: |
AHXPJ6616R |
|
Name : |
Rajendra Kumar Sethi |
|
Designation : |
CFO |
|
Address : |
B- 6 Ganga Jyoti Bldg. Plot - 17, Bangur Nagar, Link Road. Goregaon (West), Mumbai - 400090, Maharashtra, India |
|
Date of Appointment : |
03.03.2015 |
|
PAN No.: |
AANPS5779H |
|
Name : |
Debasis Bhattacharya |
|
Designation : |
CFO |
|
Address : |
A11 255 Cosmopolis 10th, Main 1st Cross Indiranagar 2nd Stage, Bangalore - 560008, Karnataka, India |
|
Date of Birth : |
05.04.1957 |
|
Date of Appointment : |
29.09.2014 |
|
PAN No.: |
ABKPB3412E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Essar Power Limited, India |
|
2399486245 |
|
Essar Power Limited Jointly With R. K.Sethi |
|
10 |
|
Essar Power Limited Jointly With Sachidanand Bhujade |
|
10 |
|
Essar Power Limited Jointly With Naveen Maheshwari |
|
10 |
|
Essar Power Limited Jointly With V.T. Josh |
|
10 |
|
Essar Power Limited Jointly With Mitin Patil |
|
10 |
|
Essar Power Limited Jointly With R. R. Pillai |
|
10 |
|
|
|
|
|
Total |
|
2399486305 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generation and Distribution of Electricity |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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|
|
|
||||
|
Imports : |
Not Available |
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|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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||||||||||||||
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No. of Employees : |
Information denied by management |
||||||||||||||
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|
||||||||||||||
|
Bankers : |
·
Yes Bank Limited, Nehru Centre, 9th
Floor, Discovery of India, Dr. A. B. Road, Worli, Mumbai – 400018,
Maharashtra, India ·
Allahabad Bank ·
ICICI Bank Limited ·
Indian Overseas Bank ·
Punjab National Bank, Large Corporate Branch, maker
Tower, “E” Wing, Cuffe parade, Mumbai – 400005, Maharashtra, India ·
State Bank of India ·
State Bank of Indore ·
State Bank of Patiala ·
State Bank of Travancore ·
Union Bank of India · United Bank of India |
|
Financial
Institutions: |
India Infrastructure Finance Company Limited |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapith, Off |
|
Tel. No.: |
91-79-27582542/27582543 |
|
Fax No.: |
91-79-27582551 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Cost Auditors : |
|
|
Name : |
Manubhai and Associates Cost Accountants |
|
Address : |
Heritage94, Amrakunj Society, Ghod-Dod Road, Surat – 395001, Guajrat,
India |
|
|
|
|
Holding Company: |
Essar Power Limited CIN No.: U40100GJ1991PLC064824 |
|
|
|
|
Ultimate Holding Company: |
|
|
|
|
|
Intermediate Holding Company : |
Essar Energy Plc |
|
|
|
|
Fellow subsidiary company: |
|
|
|
|
|
Associates Company : |
Essar Bulk Terminal (Salaya) Limited |
|
|
|
|
Enterprises commonly controlled or influenced by major shareholder /
directors of the Company: |
|
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000000 |
Equity Shares |
Rs.10/- each |
Rs.80000.000 Million |
|
2000000000 |
Preference Shares |
Rs.10/- each |
Rs.20000.000 Million |
|
Total |
|
|
Rs.100000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2399486305 |
Equity Shares |
Rs.10/- each |
Rs.23994.863
Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000000 |
Equity Shares |
Rs.10/- each |
Rs.80000.000 Million |
|
2000000000 |
Preference Shares |
Rs.10/- each |
Rs.20000.000 Million |
|
Total |
|
|
Rs.100000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2243556305 |
Equity Shares |
Rs.10/- each |
Rs.
22435.600 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 |
22435.600 |
20282.100 |
19782.100 |
|
(b) Reserves & Surplus |
(14471.000) |
(6933.900) |
(28.200) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
559.300 |
0.000 |
500.000 |
|
Total
Shareholders’ Funds (1) + (2) |
8523.900 |
13348.200 |
20253.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
36205.100 |
26517.600 |
30654.800 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
221.400 |
|
(d) long-term provisions |
19.700 |
19.600 |
28.100 |
|
Total Non-current
Liabilities (3) |
36224.800 |
26537.200 |
30904.300 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2062.400 |
5954.300 |
0.000 |
|
(b) Trade
payables |
6066.100 |
6357.000 |
0.000 |
|
(c) Other
current liabilities |
6193.000 |
6387.500 |
6089.400 |
|
(d) Short-term
provisions |
2.300 |
2.100 |
2.400 |
|
Total Current
Liabilities (4) |
14323.800 |
18700.900 |
6091.800 |
|
|
|
|
|
|
TOTAL |
59072.500 |
58586.300 |
57250.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
46425.600 |
49047.200 |
1018.900 |
|
(ii)
Intangible Assets |
1.700 |
4.200 |
4.800 |
|
(iii)
Capital work-in-progress |
3514.800 |
1901.400 |
50830.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.600 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1234.500 |
1100.200 |
1534.000 |
|
(e) Other
Non-current assets |
309.000 |
288.000 |
787.800 |
|
Total Non-Current
Assets |
51496.200 |
52341.000 |
54176.300 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
758.700 |
1231.100 |
968.800 |
|
(c) Trade
receivables |
3352.600 |
1477.800 |
158.200 |
|
(d) Cash
and cash equivalents |
288.300 |
605.800 |
1032.500 |
|
(e)
Short-term loans and advances |
529.600 |
482.600 |
269.500 |
|
(f) Other
current assets |
2647.100 |
2448.000 |
644.700 |
|
Total
Current Assets |
7576.300 |
6245.300 |
3073.700 |
|
|
|
|
|
|
TOTAL |
59072.500 |
58586.300 |
57250.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16374.300 |
10287.400 |
0.000 |
|
|
|
Other Income |
59.700 |
209.700 |
0.000 |
|
|
|
TOTAL (A) |
16434.000 |
10497.100 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of fuel |
12449.900 |
8143.800 |
0.000 |
|
|
|
Employee benefits Expenses |
253.900 |
247.400 |
0.000 |
|
|
|
Other Expenses |
2200.200 |
1635.100 |
2.000 |
|
|
|
TOTAL (B) |
14904.000 |
10026.300 |
2.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1530.000 |
470.800 |
(2.000) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6424.200 |
4969.800 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(4894.200) |
(4499.00) |
(2.000) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
2641.600 |
2406.700 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(7535.800) |
(6905.700) |
(2.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.300 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(7537.100) |
(6905.700) |
(2.000) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(6930.000) |
(30.000) |
NA |
|
|
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
(11470.000) |
(6930.000) |
(30.000) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
12.400 |
687.700 |
|
|
|
Components of store and spares |
NA |
5.300 |
0.000 |
|
|
|
Fuel |
NA |
5523.100 |
914.900 |
|
|
TOTAL IMPORTS |
NA |
5540.800 |
1602.600 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.71) |
(3.49) |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
(46.03) |
(67.13) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
9.34 |
4.58 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.57) |
(12.18) |
(0.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.88) |
(0.52) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.49 |
2.43 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.53 |
0.33 |
0.50 |
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 |
19782.100 |
20282.100 |
22435.600 |
|
Reserves & Surplus |
(28.200) |
(6933.900) |
(14471.000) |
|
Share Application money
pending allotment |
500.000 |
0.000 |
559.300 |
|
Net worth |
20253.900 |
13348.200 |
8523.900 |
|
|
|
|
|
|
long-term borrowings |
30654.800 |
26517.600 |
36205.100 |
|
Short term borrowings |
0.000 |
5954.300 |
2062.400 |
|
Total borrowings |
30654.800 |
32471.900 |
38267.500 |
|
Debt/Equity ratio |
1.514 |
2.433 |
4.489 |
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 |
0.000 |
10287.400 |
16374.300 |
|
|
|
59.168 |
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 |
0.000 |
10287.400 |
16374.300 |
|
Profit/Loss |
(2.000) |
(6905.700) |
(7537.100) |
|
|
0.00% |
(67.13%) |
(46.03%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT
(Rs.
In Million)
|
SOURCES OF
FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
Not Available |
4374.000 |
3499.100 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
LITIGATION DETAILS
Available Orders
|
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NOTE: Registered
office of the company has been shifted from Essar House, 11 Keshavrao Khadye Marg,
Mahalaxmi, Mumbai - 400034, Maharashtra, India to the present address
w.e.f 11.10.2010
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10531543 |
28/10/2014 * |
9,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
C33787631 |
|
2 |
10493937 |
28/10/2014 * |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
C40829103 |
|
3 |
10432090 |
20/05/2013 |
3,800,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA,, DR. |
B77517738 |
|
4 |
10388631 |
09/11/2012 |
4,800,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
B62826805 |
|
5 |
10388056 |
27/10/2012 |
2,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
B62581160 |
|
6 |
10160834 |
08/01/2010 * |
9,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
A77683878 |
|
7 |
10160836 |
08/01/2010 * |
10,250,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
A77685089 |
|
8 |
10160889 |
08/01/2010 * |
25,525,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
A77685840 |
|
9 |
10124316 |
08/01/2010 * |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA |
A77684447 |
* Date of charge modification
FIXED ASSETS:
- Freehold Land
- Office Equipment
- Furniture and fixtures
- Air Craft
- Software
- Vehicles
- Computer
PRESS RELEASES
ESSAR POWER GUJARAT
ACHIEVES 23% RISE IN PRODUCTION IN FY '15
EPGL meets about 10 per cent of its home state's power peak demand
April 7, 2015
Essar Power Gujarat Limited (EPGL), which owns and operates the 1,200 MW Salaya Power plant in Gujarat, has achieved 23 per cent rise in power production at 6609 million units for fiscal 2014-15 as compared to previous fiscal 2013-14.
A subsidiary of Essar Power Ltd., EPGL meets about 10 per cent of its home state's power peak demand, the company stated in an official communique.
According to the company, despite severe challenges on water supply front, availability to Gujarat Urja Vikas Ltd. (GUVNL), the state utility, stood at 80 per cent for the second consecutive year for EGPL, wherein availability in September 2014 stood at 98 per cent, the highest ever.
"Off take by GUVNL in FY '15 was 21 per cent higher than in FY '14. Plant load factor for the year stood at 63 per cent and 6,609 million units of electricity was produced, which is about 23 per cent higher than FY '14," EPGL stated while adding that merchant sales rose by 89 per cent at 411 million units in FY '15 over FY '14.
Having bagged a certification from DNV-GL for the Integrated Management for Safety (IMS), EPGL also achieved 100 per cent utilisation of fly ash generated by disposal of the same to cement and brick manufacturers. Moreover, the company recorded zero Lost Time Injury (LTI) during the year and recorded 3.93 million man hours LTI free, it stated.
Going forward, the company expects to finish some of the associated infrastructure projects for the power plant viz, sea water pipeline system and coal conveyor corridor to improve its operations and reduce the carbon footprint even further, it further stated.
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 records 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 records 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 |
Rs63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
|
--PROFITABILIRY |
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 |
YES |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.