MIRA INFORM REPORT
|
Report No. : |
343438 |
|
Report Date : |
03.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAMODAR VALLEY CORPORATION |
|
|
|
|
Registered
Office : |
DVC
Towers, VIP Road, Kolkata-700054, West Bengal |
|
Tel. No.: |
91-33-23559940 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.07.1948 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.52868.973 Million |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
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|
|
Legal Form : |
Government Organization |
|
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|
Line of Business
: |
Control of floods, provision of irrigation, generation, transmission and
distribution of electrical energy and also soil conservation, unified
tourism, fisheries, socio-economic and health development of villages |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is a multipurpose river project was set up as a statutory corporation
under a special act of parliament, Damodar Valley Corporation Act, 1948 (DVC
Act). The Government of India (GOI), the Government of West Bengal (GOWB) and
the Government of Bihar (GOB) jointly contribution to the capital of the
subject. The subject operates both thermal power station and hydel power dams. The ratings draw strength from the strategic importance of Damodar
Valley Corporation which is an old and established body having a fine track
record. Latest financial of the corporation is not available from any sources.
As per available financial of 2012, the financials of the corporation
portray increase in external borrowings and deficit in the income after tax.
However, financial position appears to be strong and healthy. Trade relations are fair. Business is active. Payments are regular and
as per commitments. In view of government support, the subject can be considered good for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bond Issue AAA (SO) |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
1.10.15 |
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
31-03-2015.
INFORMATION DENIED
Management Non-Cooperative (Tel No.:91-33-23559940/ 23559939)
LOCATIONS
|
DVC
Headquarters : |
DVC
Towers, Vip Road, Kolkata-700054, West Bengal, India |
|
Tel. No.: |
91-33-23559940 |
|
Fax No.: |
91-33-23550585 |
|
Website : |
|
|
|
|
|
Maithon |
P.O Maithon Dam, District Dhanbad-828207, Jharkhand, India |
|
|
|
|
Mejia
Thermal Power Station |
Durlavpur, P.O. MTPS, District Bankura– 722183, West Bengal, India |
|
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|
Durgapur
Thermal Power Station |
P.O: Durgapur, District Burdwan – 713207, West Bengal, India |
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Bokaro
Thermal Power Station |
District-Bokaro-829107, Jharkhand, India |
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Chandrapura
Thermal Power Station |
District-Bokaro-825303, Jharkhand, India |
|
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|
Durgapur
Thermal Power Station |
District-Burdwan, West Bengal, India |
|
|
|
|
Koderma
Thermal Project |
District-Koderma, Jharkhand, India |
|
|
|
|
Raghunathpur
Thermal Project |
District-Purulia, West Bengal, India |
|
|
|
|
Panchet |
P.O Panchet, District Dhanbad, Jharkhand-828206, India |
|
|
|
|
Tilaiya |
District Hazaribagh, Jharkhand– 825413 |
|
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Konar |
P.O Konar District. Hararibagh, Jharkhand, India |
|
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|
|
Bermo |
P.O. Bermo, District. Bokaro, Jharkhand,
India |
|
|
|
|
Soil
Conservation Department |
District Hazaribagh, Jharkhand– 825301,
India |
|
|
|
|
New Delhi
Liaison Office |
DVC NBCC Towers,
Hall No.03, Bikaji Kama Place, New Delhi-110066, India |
|
|
|
|
Ranchi
Liaison Office |
DVC BNS
House,Main Road, PO-Hinoo, Ranchi – 834002, India |
|
|
|
|
Tilaiya |
District Hazaribagh, Jharkhand, Pin – 825413, India |
DIRECTORS
|
Name : |
Mr. Amar Nath Mishra |
|
Designation : |
Director (Opn. / Tech.) |
|
|
|
|
Name : |
Mr. B P Singh |
|
Designation : |
Director (Project) (Actg.) |
|
|
|
|
Name : |
Mr. A Mallik |
|
Designation : |
Director (System) (Actg.) |
|
|
|
|
Name : |
Mr. A Baksi |
|
Designation : |
Director (HRD) |
|
|
|
|
Name : |
Mr. T K Gupta |
|
Designation : |
Director (Accounts) |
KEY EXECUTIVES
|
CHIEF
ENGINEER-ll(M/E/C/C and l/Comm) |
|
|
|
· Dr. Satya Narayan Sarkar -
CE-I (M), R and D. · Shri Dhrubesh Basu - CE-I(M), GPE, Kolkata · Shri Arun Kumar Das - CE-I(M), OS and U, Kolkata. · Shri Jitendra Kumar Singh - CE-I(M), RTPS · Shri Prabir Sen Roy - CE-I(M), DTPS · Shri Rameswar Basuri - CE-I(M), CTPS · Shri Ajit Prasad - CE-I(M), BTPS'A' · Shri Debashis Mitra - CE-I(M), MTPS · Shri Kashi Nath Singh - CE-I(M), Maithon · Shri SudhakarJha - CE-I(M), DTI, CTPS, Chandrapura · Shri Shyamal Kumar Bhattacharjee - CE-I(M), CSO, Maithon · Shri Girish Prasad Singh - CE-I(M), BTPS'B' · Shri Krishna Kumar Singh - CE-I(M), MHS, Maithon · Shri Chandreswar Choudhury - CE-I(M), Fuel, Kolkata · Shri Amitava Dasgupta - CE-I(E), Kolkata · Shri Ashok Kumar Jain - CE-I(E), Maithon · Shri Kaviraj Sahu - CE-I(E),Trans, Maithon · Shri Tapan Bandopadhyay - CE-I(E), TSC, Maithon · Shri Amitava Nayak - CE-I(E),CLD, Maithon · Shri Prasanta Kumar Das - CE-I(E),CMM, Kolkata · Shri Prabir Kumar Choudhury - CE-I(E), Commercial, Kolkata · Shri Narendra Singh Khamesra - CE-I(E), Maithon. · Md Mustaque Ahmed -
CE-I(E), CTC, Maithon · Shri Birendra Kr. Singh - CE-I(E), REP, Ranchi · Shri Siddheswar Prasad Verma - CE-I(C) Maithon · Shri Pallav Roy - CE-I(C) Additional Secretary, Kolkata · Shri Dipak Kumar Dutta - CE-I(Commercial), Kolkata · Shri Panna Lai Saha - CE-I (C and l), Kolkata. |
BUSINESS DETAILS
|
Line of Business : |
Control of floods, provision of irrigation, generation, transmission
and distribution of electrical energy and also soil conservation, unified
tourism, fisheries, socio-economic and health development of villages. |
|
|
|
|
Products : |
Not Divulged |
|
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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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Facilities : |
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Auditors : |
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|
Name : |
Comptroller and Auditor General of India Chartered Accountant |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint Venture Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
|
PARTICULARS |
POWER |
IRRIGATION |
FLOOD CONTROL |
TOTAL |
|
Central Government |
18136.667 |
0.000 |
70.000 |
18206.667 |
|
W B Government |
14866.895 |
1855.229 |
124.668 |
16846.792 |
|
Bihar Government |
17812.851 |
2.663 |
0.000 |
17815.514 |
|
TOTAL |
52868.973 |
|||
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
52868.973 |
50204.403 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
256123.343 |
249812.171 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
308992.316 |
300016.574 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
188958.636 |
167403.791 |
|
|
2] Unsecured Loans |
|
37156.302 |
22017.816 |
|
|
TOTAL BORROWING |
|
226114.938 |
189421.607 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
535107.254 |
489438.181 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
281744.475 |
231450.441 |
|
|
Capital work-in-progress |
|
203042.882 |
213613.227 |
|
|
Intangible Assets |
|
77.915 |
76.860 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
11742.887 |
12490.868 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
7283.636 |
7096.202 |
|
|
Sundry Debtors |
|
60775.694 |
42612.860 |
|
|
Cash & Bank Balances |
|
540.138 |
5523.815 |
|
|
Other Current Assets |
|
17516.263 |
11939.446 |
|
|
Loans & Advances |
|
5007.542 |
5127.779 |
|
Total
Current Assets |
|
91123.273 |
72300.102 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
12581.586 |
7187.958 |
|
|
Other Current Liabilities |
|
36057.152 |
30896.944 |
|
|
Provisions |
|
4358.769 |
3391.915 |
|
Total
Current Liabilities |
|
52997.507 |
41476.817 |
|
|
Net Current Assets |
|
38125.766 |
30823.285 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
326.697 |
876.762 |
|
|
Provident Fund |
|
46.632 |
106.738 |
|
|
|
|
|
|
|
|
TOTAL |
|
535107.254 |
489438.181 |
|
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
74359.184 |
56355.948 |
|
|
|
Rental and Wheeling |
|
48.820 |
50.238 |
|
|
|
Misc Direct Schemes |
|
915.712 |
467.609 |
|
|
|
Misc Shares of Dams and Subs. Activities |
|
5.650 |
10.931 |
|
|
|
Dividend Income from PTC and BPSCL |
|
28.528 |
25.528 |
|
|
|
Interest Income from STD |
|
2.029 |
13.685 |
|
|
|
Interest on State Bonds |
|
653.484 |
791.060 |
|
|
|
TOTAL (A) |
|
76013.407 |
57714.999 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operation and Maintenance |
|
49083.658 |
38942.856 |
|
|
|
Purchase of Power |
|
8273.972 |
6373.254 |
|
|
|
Transmission and Distribution Charges |
|
890.405 |
852.307 |
|
|
|
Direction and Central Services |
|
254.647 |
234.503 |
|
|
|
Share of Subsidiary activities |
|
180.575 |
300.794 |
|
|
|
General Overhead Charges |
|
1588.613 |
395.868 |
|
|
|
TOTAL (B) |
|
60271.870 |
47099.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
15741.537 |
10615.417 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
8712.374 |
5976.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
7029.163 |
4638.952 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6134.128 |
3452.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
895.035 |
1186.807 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
984.166 |
181.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(89.131) |
1005.755 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
122540.000 |
|
|
|
|
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
50,204.403 |
52,868.973 |
|
Reserves & Surplus |
249,812.171 |
256,123.343 |
|
Net
worth |
300,016.574 |
308,992.316 |
|
|
|
|
|
Secured Loans |
167,403.791 |
188,958.636 |
|
Unsecured Loans |
22,017.816 |
37,156.302 |
|
Total
borrowings |
189,421.607 |
226,114.938 |
|
Debt/Equity
ratio |
0.631 |
0.732 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
56,355.948 |
74,359.184 |
|
|
|
31.946 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
56,355.948 |
74,359.184 |
|
Profit |
1,005.755 |
(89.131) |
|
|
1.78% |
(0.12)% |
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 |
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 |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
Yes |
|
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
|
High Court of Calcutta – Original Side Case Status Information System |
|
Case Status: Pending Status Of: ARBITRATION PETITION (AP) 1211 Of 2015 M/S. AKA LOGISTIC PRIVATE LIMITED Vs. DAMODAR VALLEY CORPORATION Pet’s Adv: CHOUDHURY & COMPANY Res’s Adv: Last Date of Hearing: Monday, July 27, 2015 Next / Final Date of Hearing: Wednesday, July 29.2015 Case Updated On: Friday, August 07, 2015 Category: --- |
UNSECURED LOAN
|
Unsecured Loan |
Rs.
In Million 31.03.2012 |
Rs.
In Million 31.03.2011 |
|
Bonds |
|
|
|
Guaranteed By Government of India
|
0.000 |
500.000 |
|
Public Sector |
6880.000 |
7240.000 |
|
Other Loan |
|
|
|
Short Term Bridge Loan |
8000.000 |
5000.000 |
|
Short Term Bank Borrowings |
22000.000 |
9000.000 |
|
Loan From GOI for RVP Scheme |
43.750 |
45.000 |
|
Exim Bank Loan |
232.552 |
232.816 |
|
|
|
|
|
TOTAL |
37156.302 |
22017.816 |
FIXED ASSETS
- Land
- Building
- Roads Bridge
and Railway Siding
- Dams and
Spill Way
- Barrage and
Barrage Gates
- Canals and
Service Road
- Machinery and
Equipment
- Switch Gear
- Tower, Poles
and Fixtures
- Construction
Equipment
- Other Assets
- Power House
Plant and Machinery
WEBSITE DETAILS
FORMATION
DVC, a legacy to the people of India, emerged as a culmination of attempts made
over a whole century to control the wild and erratic Damodar river. The river
spans over an area of 25,000 sq. kms covering the states of Bihar (now
Jharkhand) and West Bengal.
The Damodar Valley has been ravaged frequently by floods of varying intensities
and the first of the major recorded flood dates back to 1730. Thereafter serious
floods occurred at regular intervals, but it was the flood of 1943 that left
the worst devastation in its wake. As a result, the Governor of Bengal
appointed a Board of Inquiry headed by the Maharaja of Burdwan and the noted
physicist Dr. Meghnad Saha as member. In their report, the Board suggested
creation of an authority similar to the Tennessee Valley Authority (TVA) of
United States of America. The Government of India then appointed Mr. W.L.
Voorduin, a senior engineer of the TVA to make recommendations for
comprehensive development of the valley. Accordingly, in August, 1944, Mr.
Voorduin submitted his "Preliminary Memorandum on the Unified Development
of the Damodar River".
Mr. Voorduin’s "Preliminary Memorandum" suggested a multipurpose
development plan designed for achieving flood control, irrigation, power
generation and navigation in the Damodar Valley. Four consultants appointed by
the Government of India examined it. They also approved the main technical
features of Voorduin’s scheme and recommended early initiation of construction
beginning with Tilaiya to be followed by Maithon.
By April 1947, full agreement was practically reached between the three
Governments of Central, Bengal and Bihar on the implementation of the scheme
and in March 1948, the Damodar Valley Corporation Act (Act No. XIV of 1948) was
passed by the Central Legislature, requiring the three governments – the
Central Government and the State Governments of West Bengal and Bihar (now
Jharkhand) to participate jointly for the purpose of building the Damodar
Valley Corporation.
The Corporation came into existence on 7th July, 1948 as the first multipurpose
river valley project of independent India.
NEWS
DAMODAR VALLEY CORPORATION 'S HYDEL UNIT LIKELY IN HAZARIBAG
HAZARIBAG: Damodar Valley
Corporation (DVC) is weighing the option of setting up of a hydel power station
at Bishungarh on the lines of Telaiya and Maithon units.
R N Sen, the chairman of DVC,
visited visited the site of Konar dam, which was built by DVC in 1958, and
explored the possibility of setting up of the power unit.
Villagers of Bishungarh had
approached the chairman with the request to set up the hydel power unit. They
are even willing to give their land to DVC.
However, Sen on Tuesday informed the
group of villagers that once funds are made available to the company, the
proposal to set up the power station on Konar dam would be taken up.
DVC has already taken up the
proposal with the World Bank, which is expected to release funds for the same.
The memorandum that the villagers
handed over to Sen demanded that the Konar dam and its surrounding areas be
developed as a tourist complex so that local people can get an opportunity for
self-employment.
The villagers had also demanded increase
in SIP fund and water from Konar dam for irrigation and household purposes.
They had also demanded registration
of DVC High School in Konar under the Jharkhand Academic Council for the
benefit of the teachers and students.
Due to non-recognition of the DVC
High School, it suffered funds problem and lacked infrastructure. The
villagers' delegation was led by the president of the Visthapit Sanghars
Samittee president Dineshwar Mandal. It may be mentioned here that prior to the
visit of the present Chairman of DVC at Konar no other Chairman visited the
place during last 16 years.
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.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.