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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

489627

Report Date :

03.02.2018

 

 

IDENTIFICATION DETAILS

 

Name :

WIND WORLD (INDIA) LIMITED (w.e.f.01.01.2013)

 

 

Formerly Known As :

ENERCON (INDIA) LIMITED

 

 

Registered Office :

Plot No.33, Daman Pataliaroad, Bhimpore, Daman – 396210, Daman and Diu

Tel. No.:

91-22-67607200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007 (Unaudited)

 

 

Date of Incorporation :

22.05.2003

 

 

Com. Reg. No.:

56-003236 (New)

071899 (Old)

 

 

Capital Investment / Paid-up Capital :

INR 72.000 million

 

 

CIN No.:

[Company Identification No.]

U31200DD2003PLC003236 (New)

U74999MH1993PTC071899 (Old)

 

 

IEC No.:

Not Available

 

 

 

 

TIN No.:

24110101963

 

 

GSTIN/UIN:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRE00726F

SRTE00116E

 

 

PAN No.:

[Permanent Account No.]

AAACE0319D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Wind Mills.

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 2003.

 

It is engaged in installation and commissioning of wind energy converters.

 

Management has failed to file its financial with the registrar of companies since FY 2007.

 

No latest financials and other information related to the subject are available from any other sources.

 

Payments terms are unknown.

 

Due to lack of requisite information and non-availability of the latest financial details, dealings are recommended on safe and secured terms.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2016.

 

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 DENIED

 

Management Non-Cooperative (91-22-66924848)

 

Not Exists (91-2898-262372/262545)

 

Not Working (91-260-2220624/2220628)

 

Ringing (91-2898-262547)

 

LOCATIONS

 

Registered Office :

Plot No. 33, Daman Patalia Road, Bhimpore, Daman – 396 210, Daman and Diu, India

Tel. No.:

91-260-2220624 / 2221219 / 2221220 / 2220321 / 2220628

Fax No.:

91-260-2221508 / 67020083

E-Mail :

enercon@bom3.vsnl.net.in

admin@mumbai.enercon-india.com

ketkimayekar@rediffmail.com

vijay.poddar@enercon.net

ajay.mehra@enerconindia.net

karmakar.m@enerconindia.net

legal.compliance@enerconindia.net

jitin.bhatt@windworldindia.com

kaushik.khana@windworldindia.com 

Website:

www.enerconindia.net

Location : 

Leased

 

 

Corporate Office :

Tower Plot No. A - 9, CTS No. 700, Veera Industrial Estate, Veera Desai Road
Next to Bhagavati House, Andheri (West), Mumbai - 400 053, Maharashtra, India

Tel No.:

91-22-66924848

Fax No.:

91-22-66990940

Email :

eil.marketing@enerconindia.net

 

 

Factory 2 :

Concrete Tower Factory :

Plot No 610 / 611, Village Sadodar, Taluka : Jamjodapur, District Jamnagar – 360520, Gujarat, India

Tel. No.:

91-2898-262372 / 262545 / 262547

Fax No.:

91-2898-262374

 

 

Branch Office /Marketing Office:

Located at:

 

  • Pune
  • Chennai
  • Bangalore
  • Hyderabad
  • Coimbatore
  • Ahmedabad
  • Jaipur
  • New Delhi
  • Vadodara

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Yogesh Jogindernath Mehra

Designation :

Managing Director

Address:

201, Hare Krishna, Presidency Society, North South Road No. 8, Vile Parle (West), Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

01.12.1959

Qualification

B.Com

Date of Appointment:

10.05.1993

DIN No.:

00296579

 

 

Name :

Mr. Ajay Jogindernath Mehra

Designation :

Whole Time Director

Address:

301, Hare Krishna, Presidency Society, North South Road No. 8, Vile Parle (West), Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

06.12.1955

Qualification  

B.Sc

Date of Appointment:

10.05.1993

DIN No.:

00296668

 

 

Name :

Mr. Jogindernath Kalicharan Mehra

Designation :

Director

Address :

Mehra House, 10/2, Azad Nagar CHS N S Rd No 1, Vile Parle, Mumbai – 400056, Maharashtra, India

Date of Appointment :

29.11.2007

DIN No.:

01947122

 

 

KEY EXECUTIVES

 

Name

Mr. Manoranjan Karmakar

Designation

Company Secretary

Address:

Flat No.1404, Raj Manor, B Wing, Liberty Garden, Near Navy Nagar, Malad (West), Mumbai – 400 064, Maharashtra, India 

Date of Birth

29.04.1956

Date of Appointment:

12.09.1995

PAN No:

AHTPK8682N

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2007

 

Names of Shareholders

 

No. of Shares

Enercon GmbH, Germany

 

4032000

Mehra J Sudarshan

 

896000

Mehra J Ajay

 

680000

Mehra Ajay Meenakshi

 

432000

Mehra J Yogesh

 

832000

Mehra Yogesh Radhika

 

304000

Mehra Ajay Sitakshi

 

16000

Mehra Ajay Siddharth

 

8000

Total

 

7200000

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2007

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

56.00

Directors or relatives of Directors

44.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Wind Mills.

 

 

Products :

·         Wind Mills Accessories and Parts

·         Rotor Blade

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

Axis Bank Limited

Branch :

Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad – 380006, Gujarat, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

·         Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India

 

·         IDFC Limited, KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India

 

·         The Royal Bank of Scotland N.V. Hansalaya Building, 15, Barakhamba Road, New Delhi - 110001, India

 

 

Facilities :

(INR In Million)

Secured Loans

As on 31.03.2007

(Unaudited)

INR in million

As on 31.03.2006

(Unaudited)

INR in million

a) From Banks

 

 

Cash Credit Accounts

1427.511

60.074

Working Capital Demand Loans

1823.861

1450.000

Interest Accrued and Due

0.000

2.130

Long Term Indian Currency Loans – IDBI Bank

(Repayable within one year INR 100.000 million (Previous year INR50.000 million)

350.000

175.000

B) From Financial Institutions

 

 

Long Term Indian Currency Loans - Infrastructure Development Finance Company Limited

(Repayable within one year INR173.978 Million (Previous Year INR137.900 Millions))

682.311

822.400

Long Term Foreign Currency Loans

(Repayable within one year INR178.724 Million (previous Year INR122.254 Million)

1119.064

745.729

C) Lease Obligation

 

 

Vehicle Loans

4.870

11.354

Plant and Machinery Loans

2.995

15.352

Office Equipments Loans

42.676

1.525

Total

5453.288

3283.564

 

Note

 

1.     Secured Loans from banks and financial institutions are secured against hypothecation of current assets, equitable mortgage of land and building at Daman, hypothecation of Movable Fixed Assets of Unit I, Unit II, Concrete Tower Facility, Pledged of Investments in Enercon Wind Farms (India) Limited and personal guarantee form the Indian Directors.

2.     Loan from Infrastructure Development Finance Company Limited is secured by:

              i.        A First charge by way of hypothecation/ mortgage over all the moveable and immovable assets (including tangible and intangible present and future) of the erstwhile GIWFL (Amalgamated company), pertaining to Wind Farms.

             ii.        A First Chare by way of assignment of the right and interest of the erstwhile GIWFL (Amalgamated Company), as the case may be, to and under all project documents.

            iii.        A First charge by way of assignment of the right, title and interest of the erstwhile GIWFL (Amalgamated Company) to and under all the government permits, licenses, authorization, insurance contracts relating to project assets.

            iv.        An Exclusive chare on all the receivables of the erstwhile GIWFL (Amalgamated Company). 

The vehicle loans, Plant and Machinery Loans and Office Equipments Loans under lease obligations are secured against hypothecation of the respective assets.

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

12, Dr. Annie Besant Road, Opposite Shivsagar Estate, Worli, Mumbai – 400 018, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AACFD4815A 

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company : [AS ON 31.03.2007]

Enercon GmbH, Germany

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2007

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9000000

Equity shares

INR 10/- each

INR 90.000 Million

1500000

9% Non Convertible Cumulative Redeemable Preference Shares

INR 100/- each

INR 150.000 Million

 

Total

 

INR 240.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7200000

Equity Shares

INR 10/- each

INR 72.000 Million

 

 

 

 

 

(Out of the above, 403200 Equity Shares of INR10/- each full paid up are held by Enercon GmbH – Holding Company)

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

72.000

117.000

162.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

4519.135

3750.109

2586.611

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

 4591.135

3867.109

2748.611

LOAN FUNDS

 

 

 

1] Secured Loans

5453.288

3283.564

2015.284

2] Unsecured Loans

2851.413

569.024

1315.492

TOTAL BORROWING

8304.701

3852.588

3330.776

DEFERRED TAX LIABILITIES

500.014

385.014

208.280

 

 

 

 

TOTAL

13395.850

8104.711

6287.667

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

5105.044

2887.111

1200.538

Capital work-in-progress

845.537

698.843

89.163

 

 

 

 

Pending Allocation 

0.000

0.000

1.105

 

 

 

 

INVESTMENT

2340.748

1178.294

1071.608

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
5469.493
3438.058

3951.785

 

Sundry Debtors
4116.311
3967.497

4085.839

 

Cash & Bank Balances
2391.528
2097.460

261.249

 

Other Current Assets
42.362
26.835

7.301

 

Loans & Advances
4007.577
2183.166

1350.682

Total Current Assets
16027.271
11713.016

9656.856

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

Sundry Creditors

2414.126

1300.108

5373.948

 

Other Current Liabilities
7897.847
6911.184

 

 

Provisions
610.777
161.261

357.655

Total Current Liabilities
10922.750
8372.553

5731.603

Net Current Assets
5104.521
3340.463

3925.253

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

13395.850

8104.711

6287.667

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

 

SALES

 

 

 

 

 

Sales and Services

21457.490

16726.763

8831.890

 

 

Other Income

1084.541

150.946

72.098

 

 

TOTAL                                     (A)

22542.031

16877.709

8903.988

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

16834.365

12801.055

0.000

 

 

Manufacturing and Other Expenses

3611.004

2067.835

1461.222

 

 

Consumption of Raw material and Bought out components

0.000

0.000

7933.113

 

 

Increase / Decrease in Finished Goods

0.000

0.000

(1590.162)

 

 

TOTAL                                     (B)

20445.369

14868.89

7804.173

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

2096.662

2008.819

1099.815

 

 

 

 

 

Less

INTEREST                                                         (D)

801.827

439.600

269.860

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

1294.835

1569.219

829.955

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

333.013

150.891

80.731

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

961.822

1418.328

749.224

 

 

 

 

 

Less

TAX                                                                  (H)

189.239

233.739

174.200

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

772.583

1184.589

575.024

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

2353.147

1149.524

587.397

 

 

 

 

 

Add

ADJUSTMENT OF PROFIT/LOSS OF AMALGAMATING COMPANIES (NET)

0.000

27.116

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Preference Dividend 

3.040

7.088

11.138

 

 

Corporate Dividend Tax on Proposed Preference Dividend

0.517

0.994

1.759

 

BALANCE CARRIED TO THE B/S

3122.173

2353.147

1149.524

 

 

 

 

 

 

Earnings Per Share (INR)

63.50

163.40

78.07

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

Average Collection Days

(Sundry Debtors / Income * 365 Days)

70.02

86.58

168.86

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.21

4.22

2.16

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

43.10

31.91

1342.36

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.38

0.58

0.28

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.35

0.56

0.85

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.79

0.74

0.75

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.81

1.00

1.21

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

3.00

2.31

2.56

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.30

0.93

0.47

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.61

4.57

4.08

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

Net Profit Margin

((PAT / Sales) * 100)

%

3.60

7.08

6.51

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.18

7.19

4.78

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

16.83

30.63

20.92

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2007

(Unaudited)

31.03.2006

(Unaudited)

31.03.2005

Current Ratio

(Current Assets / Current Liabilities)

1.16

1.31

1.37

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.77

0.93

0.81

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.19

0.23

0.23

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

115.34

32.93

20.56

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.16

1.31

1.37

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2005

31.03.2006

31.03.2007

 

INR In Million

INR In Million

INR In Million

Share Capital

162.000

117.000

72.000

Reserves & Surplus

2586.611

3750.109

4519.135

Net worth

2748.611

3867.109

4591.135

 

 

 

 

long-term borrowings

2015.284

3283.564

5453.288

Short term borrowings

1315.492

569.024

2851.413

Total borrowings

3330.776

3852.588

8304.701

Debt/Equity ratio

1.212

0.996

1.809

 

 

YEAR-ON-YEAR GROWTH

                                                                                                                    

Year on Year Growth

31.03.2005

31.03.2006

31.03.2007

 

INR In Million

INR In Million

INR In Million

Sales

8831.890

16726.763

21457.490

 

 

89.391

28.282

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2005

31.03.2006

31.03.2007

 

INR In Million

INR In Million

INR In Million

Sales

8831.890

16726.763

21457.490

Profit/(Loss)

575.024

1184.589

772.583

 

6.51%

7.08%

3.60%

 

 

LEGAL CASES

 

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date:- 11/12/2015

                  Lodging No.:-CPL/1186/2015                                                     Filing Date:- 11/12/2015

Petitioner: OASIS INFRASTRUCTURE PRIVATE LIMITED     Respondent: WIND WORLD (INDIA) LIMITED

                                        

 

Petn. Adv : D.H. LAW ASSOCIATES (680)

 

District: MUMBAI

Bench: SINGLE

 

Status: PRE-ADMISSION                                                       Category: COMPANY APPLN. U/SEC 433, 434

                                                                                                                                                                                                                       

 

Last Date:  15/06/2016                                                            Stage: FOR REJECTION [ORIGINAL SIDE]

 

Last Coram:

COMPANY REGISTRAR

Act: Companies Act and Rules 1956                                               UNDER SECTION: 433 (E), 434 and 439

 

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date:- 18/05/2015

                  Lodging No.:-CPL/497/2015                                                     Filing Date:- 18/05/2015

Reg. No.: CP/831/2015

Petitioner: UNION ROADWAYS LIMITED                      Respondent: WIND WORLD (INDIA) LIMITED

                                        

 

Petn. Adv : ASHOK M SARAOGI (I2035)

 

District: MUMBAI

Bench: SINGLE

 

Status: PRE-ADMISSION                                                       Category: COMPANY APPLN. U/SEC 433, 434

                                                                                                                                                                                                           

 

Next Date:  01/07/2016                                                            Stage: COMPANY PETITIONS FOR ADMISSION

 

Coram:

HON’BLE SHRI JUSTICE B.P. COLABWALLA

Act: Companies Act and Rules 1956                                               UNDER SECTION: 433 (E), 434 and 439

 

 

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date:- 19/12/2014

                  Lodging No.:-CPL/974/2014                                                     Filing Date:- 19/12/2014

Reg. No.: CP/300/2015

Petitioner: ALLCARGO LOGISTICS LIMITED                        Respondent: WIND WORLD (INDIA) LIMITED                                         

 

Petn. Adv : D.H. LAW ASSOCIATES (680)

 

District: MUMBAI

Bench: SINGLE

 

Status: PRE-ADMISSION                                                       Category: COMPANY APPLN. U/SEC 433, 434

                                                                                                                                                                                                           

 

Next Date:  01/07/2016                                                            Stage: COMPANY PETITIONS FOR ADMISSION

 

Last Date: 30/03/2015                                                             Stage: FOR ACCEPTANCE

 

Last Coram:

HON’BLE SHRI JUSTICE S.J. KATHWALLA

Act: Companies Act and Rules 1956                                               UNDER SECTION: 433 (E), 434 and 439

 

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Presentation Date:- 03/07/2014

                  Lodging No.:-CPL/459/2014                                                     Filing Date:- 03/07/2014

Reg. No.: CP/421/2015

Petitioner: PRICEWATERHOUSE COOPERS (P) LIMITED          Respondent: WIND WORLD (INDIA) LIMITED

                                        

 

Petn. Adv : J. SAGAR ASSOCIATES (357)

 

District: OUTSIDE MAHARASHTRA

Bench: SINGLE

 

Status: PRE-ADMISSION                                                       Category: COMPANY APPLN. U/SEC 433, 434

                                                                                                                                                                                                           

 

Next Date:  01/12/2016                                                            Stage: COMPANY PETITIONS FOR ADMISSION

 

Coram: PROVISIONAL BOARD

 

Last Date: 15/06/2015

 

Coram:

HON’BLE SHRI JUSTICE S.C. GUPTE

Act: Companies Act and Rules 1956                                               UNDER SECTION: 433 (E), 434 and 439

 

 

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

Yes

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

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

Note: Registered Office of company has been shifted from “Kolsite House, Plot No. 31, Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai - 400 053, Maharashtra, India” to the Present address w.e.f. 22.05.2003

 

UNSECURED LOANS

 

Particular

As on 31.03.2007

(Unaudited)

Rs. in million

As on 31.03.2006

(Unaudited)

INR in million

From Banks

 

 

Short Term Loans

(Repayable within one year INR Nil (previous year INR100.000 millions)

0.000

100.000

Long Term Loan

(Repayable within one year INR 100.000 Million (Previous Year INRNIL)

300.000

300.000

 

 

 

Long Term Indian Currency Loans – SBI Bank

(Repayable within one year INR30.000 Million  Previous year INR Nil)

302.739

0.000

Long Term Foreign Currency Loans – ICICI Bank

(Repayable within one year INR Nil  Previous year INR Nil)

869.587

0.000

 

 

 

From Financial Institutions

 

 

Short Term India Currency Loans – Infrastructure Development Finance Company Limited

(Repayable within one year INR 336.800 Million Previous year INR Nil)

336.800

0.000

b) From Foreign Financial Institutions

 

 

Short Term Foreign Currency Loan

(Repayable within one year INR 927.559 Million (Previous year INR Nil))

927.559

0.000

Long Term Foreign Currency Loan

(Repayable within one year INR 38.243 Million (Previous year INR 51.342 Million)

114.728

169.024

Total

2851.413

569.024

 

Note

 

  1. Unsecured Loans from Foreign Financial Institutions are guaranteed by corporate guarantee of Holding Company and the personal guarantee form the Indian Directors. Unsecured Loans from Local Banks are guaranteed by the personal guarantee from the Indian directors.
  2. Long Term Loan From State Bank of India and ICICI Bank are secured term loans as per the agreements entered into with the respective banks. However, pending creation of charge on the security and registration of the same with ROC, same has been classified as unsecured loan.

 

 

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

C61621934

10585820

12/08/2015

-

-

500000000.0

INDIA HABITAT CENTRE1ST FLOOR EAST COURT CORE4 A LODHI ROADNEW DELHIDL110003IN

2

C65783912

10594178

12/08/2015

-

-

2500000000.0

IDBI TOWER WORLD TRADE COMPLEXCUFFE PARADEMUMBAIMH400005IN

3

C43155050

10548381

15/01/2015

-

-

3564500000.0

COMMERCIAL BRANCH, N.G.N. VAIDYA MARG,HORNIMAN CIRCLE, FORT,MUMBAIMH400001IN

4

C37803285

10538176

19/12/2014

-

-

275000000.0

CORPORATE BANKING BRANCH, GROUND FLOOR, AXIS HOUSEBOMBAY DYEING MILL COMPOUND, P.B MARG, WORLIMUMBAIMH400025IN

5

C13699285

10511169

24/06/2014

-

-

150000000.0

CORPORATE BANKING BRANCH, GROUND FLOOR, AXIS HOUSEBOMBAY DYEING MILL COMPOUND, P.B MARG, WORLIMUMBAIMH400025IN

6

B57840720

10375827

23/07/2012

-

-

160000000.0

HANSALAYA BUILDING15, BARAKHAMBA ROAD,NEW DELHIDL110001IN

7

C59818989

10372764

03/07/2012

13/11/2014

-

600000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN

8

B55799522

10367034

25/06/2012

19/07/2012

-

400000000.0

ONE FORBES,DR. V. B. GANDHI MARG, FORTMUMBAIMH400001IN

9

B37544194

10349570

28/03/2012

-

-

500000000.0

CORPORATE BANKING BRANCH, AXIS HOUSE, GROUND FLR,WADIA INTL CENTRE, P.B. MARG, WORLI,MUMBAIMH400025IN

10

B27706993

10322723

22/11/2011

-

-

140270000.0

'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWB700046IN

 

 

 

Fixed Assets

 

Owned Assets

 

·         Free Hold Land

·         Building

·         Plant and Machinery

·         Wind Energy Converter

·         Sub Station

·         Furniture, Fixture and Office Equipments

·         Vehicles

 

Leased Assets

·         Plant and Machinery

·         Vehicles

·         Office Equipments

 

 

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 64.07

UK Pound

1

INR 91.33

Euro

1

INR 80.03

 

 

INFORMATION DETAILS

 

Information Gathered by :

SAV

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

NKTS

 

 

SCORE FACTORS

 

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

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.