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MIRA
INFORM REPORT
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Report No. : |
489601 |
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Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MUMBAI METROPOLITAN REGION DEVELOPMENT AUTHORITY |
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Registered
Office : |
1st Floor, Balkum Fire Brigade Office Building,
Opposite Ravale Talav, Thane-Bhiwandi Road, Thane – 400608, Maharashtra |
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Tel. No.: |
91-22-25388122 |
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Country : |
India |
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Financials (as
on) : |
Not Available |
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Date of
Incorporation : |
26.01.1975 |
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Capital
Investment / Paid-up Capital : |
Not Available |
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IEC No.: |
Not Divulged |
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TIN No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
Government Owned Enterprise |
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Line of Business
: |
Subject is engaged in long term planning, promotion of new growth centers, implementation of strategic projects and financing infrastructure development. (From Indirect Sources) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Mumbai Metropolitan Region Development Authority, commonly abbreviated as MMRDA, is a body of the “Government of Maharashtra”. MMRDA was set up on “26 January 1975” under the Mumbai Metropolitan Region Development Authority Act, 1974 Government of Maharashtra as an apex body for planning and co-ordination of development activities in the Region. The region under MMRDA covers 4,355sq km, which consists of several municipal corporations, municipal councils and villages. MMRDA is engaged in long term planning, promotion of new growth centres, implementation of strategic projects and financing along with responsible for infrastructure development of the Mumbai Metropolitan Region. It is chaired by the Minister for Urban Development in Maharashtra, who is also the current Chief Minister of Maharashtra. As per indirect sources we could find that, MMRDA presents INR 69760.000 Million Budget which clearly highlights the intent of the State as it spares large expenditures on projects for the year 2017. Further, it includes Metro corridors, Mumbai Trans Harbour Link, Monorail Phase-II, development of Mumbai Metropolitan Region with flyovers, creek bridges and road network and development of water resources besides prioritizing the Bandra-Kurla Complex to improve its connectivity and infrastructure. The ratings continue to reflect the strategic importance and expectation of continued support from the “Government of Maharashtra” However, rating strength is partially offset by borrowing Requirements and forex and Interest Rate Risk which MMRDA fund project-related expenditure through loans from the Asian Development Bank and the Japan International Cooperation Agency, which will expose the entity to foreign exchange and interest rate risk. Trade relations are reported as fair. Payments are seems to be slow but correct which parts of project execution risk. In view of department of Government of Maharashtra, it can be considered for normal business dealings with usual trade 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
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Rating Agency Name |
INDIA RATINGS |
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Rating |
Long term rating : AA- |
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Rating Explanation |
High degree of safety and very low credit risk |
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Date |
04.04.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 03.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
Management non-cooperative (Tel No.:91-22-26590001)
LOCATIONS
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Registered Office /
Sub-Regional Office : |
1st Floor, Balkum Fire Brigade Office Building, Thane-Bhiwandi Road, Thane- 400 608, Maharashtra, India |
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Tel. No.: |
91-22-25388122 |
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Fax No.: |
91-22-25418265 |
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Website : |
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MMRDA Divisional
Office : |
Old Municipal Building, Tilak Chauk, Kalyan (West), Thane, Maharashtra, India |
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Tel. No.: |
91-251-2200298 |
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CR-2 OFFICE : |
Inox Theater, C.R.-2 Building, 9th Floor, Opposite Bajaj Bhavan, Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Tel. No.: |
91-22-66157390 |
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Fax No.: |
91-22-66157429 |
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Bandra Office : |
M.M.R.D.A. Office Building, Bandra-Kurla Complex, C-14 & 15, E Block, Bandra (East), Mumbai - 400 051, Maharashtra, India |
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Tel. No.: |
91-22-26590001 / 4000 |
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Fax No.: |
91-22-26591264 |
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Wadala Office : |
Wadala Truck Terminal, A1 Building, Near RTO Office, Wadala, Mumbai-400037, Maharashtra, India |
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Tel. No.: |
91-22-24062124 |
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Fax No.: |
91-22-24036432 |
MANAGEMENT
|
Members of the Authority |
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Name : |
Mr. Devendra Fadnavis |
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Designation : |
Hon'ble Chief Minister and Chairman, MMRDA |
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Name : |
Mr. Prakash Mehta |
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Designation : |
Minister for Housing |
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Name : |
Mr. Sumit Mullick |
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Designation : |
Chief Secretary, Government of Maharashtra |
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Name : |
Dr. Ranjit Patil |
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Designation : |
Minister of State for Urban Development |
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Name : |
Mr. Sanjay Kumar |
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Designation : |
Additional Chief Secretary, Housing Department, Government of Maharashtra |
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Name : |
Mr. Vishwanath Mahadeshwar |
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Designation : |
Mayor, Municipal Corporation of Greater Mumbai |
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Name : |
Mr. Nitin Kareer |
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Designation : |
Principal Secretary, Urban Development Department, Government of Maharashtra |
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Name : |
Mr. Ajoy Mehta |
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Designation : |
Municipal Commissioner, Municipal Corporation of Greater Mumbai |
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Name : |
Mr. Bhushan Gagrani |
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Designation : |
Managing Director, CIDCO |
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Name : |
Mr. U.P.S. Madan |
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Designation : |
Metropolitan Commissioner, MMRDA |
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Name : |
Mr. Ramesh Korgaonkar |
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Designation : |
Chairman, Standing Committee, Municipal Corporation of Greater Mumbai |
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INVITEES |
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Name : |
Mrs. Manisha Mhaiskar |
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Designation : |
Principal Secretary, Urban Development Department, Government of Maharashtra |
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Name : |
Mr. R. L. Mopalwar |
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Designation : |
Managing Director, Maharashtra State Road Development Corporation |
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Name : |
Ms. Aditi S. Tatkare |
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Designation : |
President, Raigad Zilla Parishad |
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ADMINISTRATION |
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Name : |
Mr. Dilip Kawathkar |
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Designation : |
Dy. Metropolitan Commissioner (Admin), Administration |
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FINANCE AND
ACCOUNTS |
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Name : |
Mr. Madhav S. Nagargoje |
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Designation : |
Financial Adviser, Finance and Accounts |
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AMC-I and PD, MUTP |
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Name : |
Mr. Pravin Darade |
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Designation : |
IAS, Additional Metropolitan Commissioner - I and Project Director MUTP, MMRDA |
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AMC-II |
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Name : |
Mr. Sanjay Khandare |
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Designation : |
IAS, Additional Metropolitan Commissioner - II, MMRDA |
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JMC |
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Name : |
Mr. Sanjay L. Yadav |
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Designation : |
IAS, Joint Metropolitan Commissioner, MMRDA |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in long term planning, promotion of new growth centers, implementation of strategic projects and financing infrastructure development. (From Indirect Sources) |
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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 |
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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Auditors : |
Not Divulged |
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Collaborators : |
Not Available |
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Membership : |
Not Available |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
NOT AVAILABLE
FINANCIAL DATA
[all figures are
INR Million]
NOT AVAILABLE
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
No |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
No |
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8 |
Designation of contact person |
No |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners / Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
No |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
No |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
No |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last three years |
No |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
No |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
Yes |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
No |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PROFILE
The Mumbai Metropolitan Region (MMR) spread over 4,355 sq. km. consists of 8 Municipal Corporations viz. Greater Mumbai, Thane, Kalyan-Dombivali, Navi Mumbai, Ulhasnagar, Bhiwandi- Nizamapur, Vasai-Virar and Mira-Bhayandar; and 9 Municipal Councils viz. Ambarnath, Kulgaon-Badalapur, Matheran, Karjat, Panvel, Khopoli, Pen, Uran, and Alibaug, along with more than 1,000 villages in Thane and Raigad Districts. MMRDA is responsible for the balanced development of the MMR.
The Mumbai Metropolitan Region
Development Authority (MMRDA) was established in accordance with the Mumbai
Metropolitan Development Act, 1974, on 26th January, 1975.
Since its inception, MMRDA is
engaged in long term planning, promotion of new growth centers, implementation
of strategic projects and financing infrastructure development. The Regional
Plan provides for a strategic frame work of MMR's sustainable growth. The
object behind establishing MMRDA was to make MMR a destination for economic
activity by promoting infrastructure development and improving the quality of
life.
The MMRDA prepares plans,
formulates policies and programs, implements projects and helps in directing
investments in the Region.
The broad responsibilities of the
Mumbai Metropolitan Region Development Authority includes:
·
Preparation of Regional Development
Plans
·
Providing financial assistance for
significant regional projects
·
Providing help to local authorities and
their infrastructure projects
·
Coordinating execution of projects
and/or schemes in MMR
·
Restricting any activity that could
adversely affect appropriate development of MMR, etc.
In particular, it conceives, promotes and monitors the key projects for developing new growth centres and brings about improvement in sectors like transport, housing, water supply and environment in the Region.
MMRDA AWARDS
· MMRDA E-tendering Awards (eINDIA Awards 2014)
· MMRDA DMS Awards (EDGE Awards)
· Skoch Digital Inclusion Awards 2014
· MMRDA Smart BKC (Skoch Renaissance Awards 2014)
WEBSITE DETAILS
NEWS/ PRESS
RELEASES
MUMBAI METROPOLITAN
REGION DEVELOPMENT AUTHORITY INVITES CIVIL WORK BIDS FOR TWO METRO
PROJECTS
January 5, 2017
Thomas Cook Andaman
Holidays - Packages starts from INR 26999
The Mumbai Metropolitan Region Development Authority (MMRDA)
has invited civil works bids for Metro 2B and Metro 4. Bhoomi pujan for both
projects was done by Prime Minister Narendra Modi on December 24.
MMRDA's joint project director (public relations) Dilip
Kawathkar said, "Work on both these corridors will be carried out in
five different packages."
The packages for Metro 2B are divided into ESIC Nagar to Khira Nagar, Saraswat
Nagar to ILFS in BKC, MTNL Metro to Chembur, Diamond Garden to Mandale (Depot)
and designing and constructing elevated viaducts for railway crossings near
Kurla on Central Railway and near LTT. For Metro 4, the packages
are Wadala to Amar Mahal Junction, Garodia Nagar to Surya Nagar,
Gandhi Nagar to Sonapur, Mulund Fire Station to Majiwada and
Kapurbawdi to Kasarvadavali."
Initially, MMRDA had planned an elevated corridor via the Eastern Express
Highway but there were apprehensions about its feasibility due to poor
ridership projections and the alignment was changed. An MMRDA official said,
"We hope to appoint the contractors by March so that work begins on the
ground by May. We expect work to be completed by December 2019."
The 23.5km-long Metro 2B will be an elevated corridor and civil work is estimated to cost INR 19500.000 Million. The cost of the 32km-long Metro 4 is estimated to be INR 27000.000 Million. MMRDA is negotiating with World Bank for a loan to execute both Metro projects.
Work on Metro 2A (Dahisar-DN Nagar), Metro 7 (Dahisar-Andheri via WEH) and Metro 3 (Colaba-Bandra-Seepz) is in progress.
MMRDA in October 2016 approved Metro 5 (Thane-Bhiwandi-Kalyan) and Metro 6 (Lokhandwala-Jogeshwari-Vikhroli-Kanjurmarg) corridors. The 24km-long Metro 5 corridor will have 17 stations and cost INR 84160.000 Million. The 14.5km-long Metro 6 corridor will have 13 stations and cost INR 66720.000 Million.
MMRDA claimed that once the Metro projects are commercially operational,
congestion in each suburban rail compartment will be reduced by 35-40% as a
square meter of space will be shared by seven people as compared to 12 today.
Reduction in congestion will significantly reduce the number of accidents,
vehicular traffic on roads will be reduced by 35-40%, travel time will be
reduced by 30-50 minutes on an average depending on the route and there will be
notable reduction in noise and air pollution. More significantly, about 10
litres of fuel will be saved every day",
MMRDA presents INR 69760.000 million Budget
7 City Metro Projects receive INR 32100.000 million, INR 12000.000
million for MTHL
INR 7000.000 million for MMR development, Water Resources INR 3000.000 million
Monorail Phase-II allotted INR 2080.000 million, INR 75 for improvement
of BKC
Date: 29.03.2017
The Honourable Chief Minister and Chairman, MMRDA, Mr. Devendra Fadnavis, during the 142nd Authority meeting, held today, approved INR 69765.000 million budget for the year 2017-18 presented by the Mumbai Metropolitan Region Development Authority (MMRDA). The budget clearly highlights the intent of the State as it spares large sums to projects such as Metro corridors, Mumbai Trans Harbour Link, Monorail Phase-II, development of Mumbai Metropolitan Region with flyovers, creek bridges and road network and development of water resources besides prioritizing the Bandra-Kurla Complex to improve its connectivity and infrastructure.
The Authority has spared INR 10000.000 million each for the Dahisar to DN Nagar Metro-2A corridor (18.5-km, 17 stations, INR 64100.000 million) and the Andheri (East) to Dahisar (East) Metro-7 corridor (16.5-km, 14 stations, INR 62080.000 million). The Colaba-Bandra-SEEPZ Metro-3 corridor has received INR 8000.000 million boost and DN Nagar to Mandale Metro-2B (23.5-km, 22 stations, INR 109860.000 million) and Wadala-Ghatkopar-Thane-Kasarvadavli Metro-4 corridors (32-km, 32 stations, INR 145490.000 million) have received INR 2000.000 million each. The recently approved Thane- Bhiwandi-Kalyan Metro-5 (24-km, 17 stations, INR 84160.000 million) and Swami Samarth Nagar- JVLR-SEEPZ-Vikhroli Metro-6 corridors (14.5-km, 13 stations, INR 66720.000 million) have been given a token grant of INR 50.000 million each.
The Authority also approved the new 13 km long Dahisar [E] to Mira-Bhainder Metro line- 9.This route will have 10 Metro stations. The total cost of this project is INR 65180.000 Million including the land acquisition.
Likewise, the second phase of the Monorail corridor running from Wadala to Sant Gadge Maharaj Chowk has also received INR 2080.000 million boost, which is expected to run this year. On completion, the entire 20-km Chembur-Wadala-Sant Gadge Maharaj Chowk will prove to be very helpful reaching commuters to areas that are not connected by rail based transport.
The provision of INR 12000.000 million has paved way for the speedy implementation of the Mumbai Trans Harbour Link project (22-km, INR 178430.000 million). The Link will provide direct access to Navi Mumbai, new International Airport and will be a convenient gateway to Mumbai-Pune Expressway and further to Southern India. The Link will also help develop the main land.
The Authority further allocated INR 7000.000 million for the development of Mumbai Metropolitan Region and the road network therein. The development of flyovers, creek bridges and road network will certainly provide excellent connectivity with the city of Mumbai as also other areas.
“I want to ensure that any one should be able to reach anywhere in one hour and the commute must be easy, comfortable and congestion-free”, said Mr. Devendra Fadnavis. “The Metro corridors are the future of this city. The Mumbaikars should feel proud to use public transport rather than private vehicles. Use of public transport saves time, fuel and also improves environment”, said the Chief Minister further.
“The immense potential of the metropolitan region has attracted an allocation of INR 7000.000 million. The region is full of opportunities and is attracting people, in turn, requiring infrastructure development on the whole. The Authority has been implementing various projects in this region like flyovers, ROBs, creek bridges and road network to develop the region”, said Mr. UPS Madan, Metropolitan Commissioner, MMRDA.
The Authority has made provision of INR 750.000 million for the improvement of Bandra-Kurla Complex. The provision will not only improve the infrastructure to streamline the hustle-bustle in the complex but also provide electric/hybrid buses for the regulars and the visitors. The budgetary provision will go a long way to transform BKC into Smart-BKC soon.
The Authority has also made a provision (INR 500.000 million) for the construction of an elevated road extending the Santacruz-Chembur Link Road up to Vakola bridge on the Western Express Highway. The 5-km long Kurla-Vakola Elevated Road will not only provide better connectivity to the Bandra-Kurla Complex but also will decongest traffic in the area
Similarly, two flyovers and an elevated road will be constructed, for which a provision of INR 200.000 million has been made in the budge, at Chheda Nagar to rid the traffic chaos that is being created by the innumerable vehicles assimilating at Chheda Nagar from the Santacruz- Chembur Link Road and the Eastern Freeway. There will be a 680-meter long and 3-lane wide flyover from Sion towards Thane running parallel to the existing 3-lane flyover. Another 1240- meter long 2-lane flyover will run from above the existing Chheda Nagar flyover and carry the traffic coming from Navi Mumbai towards Thane. And there will be a 650-meter long and 2- lane elevated road to connect the existing Chheda Nagar flyover with Amar Mahal Junction flyover. The estimated cost of the project is INR 2490.000 million.
The Authority has further allocated INR 3000.000 million for the development of water resources. The 403 MLD Surya Regional Water Supply Scheme has been undertaken to provide bulk water supply to Mira-Bhayandar and Vasai Virar Municipal Corporations as also the Rental Housing Scheme and villages in the western sub region of MMR. The project entails of collecting water from Surya Dam, treating the same at Surya Nagar and distributing it by laying 88-km long pipeline. The estimated cost of the project is INR 16110.000 million and the implementation will begin this year.
Another significant budgetary provision of INR 500.000 million has been made for the grand memorial of Dr. Babasaheb Ambedkar. The Memorial will come up on Indu Mill’s 4.84 Hectares of land which will comprise Commemorative Stupa, Auditorium, Assembly hall, Museum, Library, Landscape Garden, Parking spaces, etc.
MMRDA BUDGET FOR 2017-18 – AT A GLANCE
|
Sr. No. |
PROJECTS |
Amount (INR In Million) |
|
|
Metro Rail Projects |
|
|
1 |
A. Metro 2A – Dahisar to DN Nagar – INR 10000.000 Million B. Metro 2B – DN Nagar to Mandale – INR 2000.000 Million C. Metro 4 – Wadala-Ghatkopar-Mulund-Thane-Kasarvadavali – INR 2000.000 Million D. Metro 5 – Thane-Bhiwandi-Kalyan – INR 50.000 Million E. Metro 6 – Swami Samarth Nagar-JVLR-SEEPZ-Kanjurmarg- Vikhroli EEH – INR 50.000 Million F. Metro 7 – Andheri (E) to Dahisar (E) – INR 10000.000 Million G. Metro 3 – Colaba-Bandra-SEEPZ – INR 8000.000 Million H. Metro 1 – Versova-Andheri-Ghatkopar – INR 632.500 Million |
32732.500 |
|
2 |
Mumbai Trans Harbour Link |
12000.000 |
|
3 |
Monorail Project |
2080.000 |
|
4 |
Mumbai Urban Infrastructure Project |
700.000 |
|
5 |
Extended Mumbai Urban Infrastructure Project |
6000.000 |
|
6 |
Development of water resources at regional level |
3000.000 |
|
7 |
Improvement of road network outside MMR |
1000.000 |
|
8 |
Bandra-Kurla Complex |
750.000 |
|
9 |
Dr. Babasaheb Ambedkar Memorial at Indu Mills Compound |
500.000 |
|
10 |
Wadala Truck Terminal |
150.000 |
|
11 |
Mithi River Development and Protection |
50.000 |
|
12 |
Rental Houses with infrastructure facilities |
400.000 |
|
13 |
Widening of SCLR up to Kurla (CST Road) to Vakola Bridge and construction of elevated road from BKC to WEH |
500.000 |
|
14 |
Improvement of Chheda Nagar Junction on EEH |
200.000 |
|
15 |
Procurement of Electric/Hybrid buses with charging facility |
510.000 |
|
16 |
Smart City / Smart Street Lighting Plan |
400.000 |
|
17 |
Miscellaneous expenses on projects |
1487.000 |
|
18 |
MUTP 1 & 2 |
1065.000 |
|
19 |
Loans |
1020.000 |
|
20 |
Surveys and Studies |
358.500 |
|
21 |
Grants |
1089.000 |
|
22 |
Administrative and capital expenses |
1963.000 |
|
23 |
Deposits and other expenses |
1810.000 |
|
|
Total |
69765.000 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
|
INR |
|
US Dollar |
1 |
INR 63.61 |
|
UK Pound |
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.