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Report No. : |
340529 |
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Report Date : |
14.09.2015 |
IDENTIFICATION DETAILS
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Name : |
VIDEOCON HYDROCARBON HOLDING LTD. |
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Registered Office : |
Ugland House, South Church Street, George Town, KY1-1104 |
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Country : |
Cayman Islands |
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Year of Establishment : |
2009 |
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Legal Form : |
Private Company |
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Line of Business : |
The company holds oil and gas asset. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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) |
|
Cayman Islands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CAYMAN ISLANDS - ECONOMIC
OVERVIEW
With no direct taxation, the islands are a thriving offshore
financial center. More than 93,000 companies were registered in the Cayman Islands
as of 2008, including almost 300 banks, 800 insurers, and 10,000 mutual funds.
A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for
about 70% of GDP and 75% of foreign currency earnings. The tourist industry is
aimed at the luxury market and caters mainly to visitors from North America.
Total tourist arrivals exceeded 1.9 million in 2008, with about half from the
US. Nearly 90% of the islands' food and consumer goods must be imported. The
Caymanians enjoy a standard of living comparable to that of Switzerland.
|
Source
: CIA |
Company Name and address
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|
|
Order: |
Videocon
Hydrocarbon Holding Ltd |
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Address in the
order: |
190
Elgin Avenue, George Town Grand Cayman KY1-9005 Cayman Islands |
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Legal Name: |
VIDEOCON
HYDROCARBON HOLDING LTD. |
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Registration
Number |
NA |
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Date Created: |
2009 |
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Date
Incorporated: |
2009 |
|
Legal Address: |
Ugland House South Church
Street George
Town, KY1-1104 Cayman Islands |
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Operative
Address: |
Ugland House South Church Street George
Town, KY1-1104 Cayman Islands |
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Telephone: |
1 345 814 5535 |
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Fax: |
1 345 814 5535 |
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Legal Form: |
Private Company |
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Email: |
NA |
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Registry Office:
|
Cayman Islands |
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Website: |
www. vhhl.ae.com |
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Manager: |
Venugopal Nandlal
Dhoot, Director |
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Staff: |
0 |
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Activity: |
IBC |
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BANKS
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Name |
RBC Royal Bank |
HISTORY
|
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Videocon
Hydrocarbon Holdings Limited (Videocon) is a Cayman Islands company set up in
2009. The Company is part
of Videocon Group, a large and multi activity Indian business group
('Videocon Group'). |
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PRINCIPAL ACTIVITY
|
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The company
holds oil and gas assets in Brazil, Indonesia, East Timor and Australia |
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Products/Services
description: |
Oil Services |
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It employs |
The company does
not have any employee in Cayman Islands. |
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Sales are: |
NA |
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Clients: |
NA |
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Competitors: |
NA |
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Suppliers: |
NA |
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The company
imports from |
NA |
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The company
exports to |
NA |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
The company does
not operate in the country. It would use its address for tax purposes. |
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Size: |
NA |
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Property: |
NA |
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Branches: |
NA |
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Business
Overview: |
NA |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
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Listed at the
stock exchange: |
NO |
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Capital: |
USD 203.00 |
|
Shareholders |
The company is a
subsidiary of: VIDEOCON
HYDROCARBON HOLDINGS LIMITED Office No:
207-208, Indigo Tower, Jumeirah Lake Towers P.O. Box No. 488236 United Arab
Emirates |
|
Agent: |
Maples Corporate
Services Limited Ugland House South Church
Street George
Town, KY1-1104 Cayman Islands |
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Management: |
Venugopal
Nandlal Dhoot, Director Pradipkumar
Nandlal Dhoot, Director |
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Related
Companies: |
Videocon Energy
Brazil Ltd Brazil Videocon
Indonesia Nunukan Inc. Indonesia Videocon JPDA
06-103 Ltd. Timor Sea |
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FINANCIAL INFORMATION
|
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This is a private
company which does not make its financial statements public. |
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The following
information has been provided by private sources and could not be confirmed
with the company. |
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|
INR Mn 2013 |
|
|
|
|
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Share
Application Money Received |
4,075.92 |
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Reserves |
111,694.81 |
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Total Assets |
259,624.22 |
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Total
Liabilities |
131,685.67 |
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Turnover |
143,352.04 |
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Profit Before
Tax |
125,300.42 |
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Profit After Tax
|
111,868.65 |
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|
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Videocon Mauritius
Energy Limited alongwith its holding company Videocon Hydrocarbon Holdings
Limited (subsidiary of the Company) have entered into a Share Sale and
Purchase Agreement on 25th June, 2013 with ONGC Videsh Limited and OIL India
Limited for sale of the entire shareholding in Videocon Mozambique Rovuma 1
Limited, which owns 10% participating interest in Oil & Gas Block
covering Area 1 Offshore of the Rovuma Block, Republic of Mozambique for a
base consideration of US$ 2,475.00 Million. However, pending closure of the
transaction, Videocon Mozambique Rovuma 1 Limited continues to be subsidiary
of the Videocon Mauritius Energy Limited. |
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LEGAL FILINGS
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There are no
legal/criminal filings found |
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FINAL REVIEW
|
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This is an
International Business Company which does not belong to a company located in
Cayman Islands. It is registered in the island for tax
purposes and does not operate within the country. It is managed by a resident
registration agent. |
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RISK INFORMATION
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Indebtedness |
Controlled |
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Payments |
No Complaints |
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Cash |
Normal |
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CALL
|
|
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Interviewee |
NA |
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Position |
Cayman Islands
Registry of Companies |
|
Comments |
We confirmed incorporation
of the company at the Registry. They refused to provide more data. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
|
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.