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MIRA INFORM REPORT
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Report No. : |
488632 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SHRI KSHETHRA DHARMASTHALA RURAL DEVELOPMENT PROJECT |
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Registered
Office : |
The Project Officer, SKDRDP Bagalkote Taluk, Near Bus Stand and
Srinivas Kalyan Manta, Bagalkot - 587101, Karnataka |
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Tel. No.: |
91-8256-277215 |
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Country : |
India |
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Financials (as
on) : |
Not Available |
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Year of Establishment
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1991 [From Indirect Source] |
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Capital
Investment : |
Not Divulged |
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IEC No.: |
Not Applicable [As informed by the management that firm does
not have export and import] |
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TIN No.: |
Not Divulged |
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GST No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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Legal Form : |
Charitable Trust |
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Line of Business
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Providing Infrastructure and Finance through Micro Credit for the
Rural People. [From Indirect Source] |
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No. of Employees
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6597 [Approximately] |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Shri Kshethra Dharmasthla Rural Development Project popularly known as SKDRDP, is a charitable trust promoted by Dr. D Veerendra Heggade and was established in the year 1991. It is engaged in providing Infrastructure and Finance through Micro Credit for the rural people. SKDRDP has a wide array of programs focusing on Financial, Social and Intellectual upliftment of the people. Apart from people development, in order to facilitate smoother rural development, SKDRDP strives to enhance rural infrastructure and environment via its awareness and development model. SKDRDP focuses on developing women via its empowerment initiatives. There are huge array of programs under the belt of SKDRDP. Hence the programs are classified under following headings. Agriculture Programme - The agriculture and related programs are generally geared towards head of the family. The agriculture programs develop 3 aspects among farmers- knowledge and capacity building, financial support and social support. Community Development Programmes - The SKDRDP is active in various parts of the state through its Community Development Projects, to provide infrastructure support to the villages.
Women Empowerment Activities - SKDRDP not only provides financial aid to the women but empowers them. With the loans, people are equipped with the abilities to make something for their future and to improve their standard of living. Health Insurance - “Sampoorna Suraksha” (total security) is a scheme to give financial assistance to the poor people. In this programme members contribute to bring security to their insecure life during sever ailment/accident. Microfinance - Microfinance activities provide stable ground for poverty alleviation. SKDRDP also brings banking closer to people with Business Correspondence and Business Facilitator. Rehabilitation - SKDRDP in its experience has found that addiction to liquor is a major bane for poor people. It has promoted Janajagruthi, a movement against alcoholism. Payment seems to be usually correct. In view of aforesaid, the subject can be considered 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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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 09.02.2018.
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.: 91-8256-277215]
LOCATIONS
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Registered Office : |
The Project Officer, SKDRDP Bagalkote Taluk, Near Bus Stand and
Srinivas Kalyan Manta, Bagalkot - 587101, Karnataka, India |
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Tel. No.: |
91-8256-277215 |
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Fax No.: |
91-8256-277116 |
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E-Mail : |
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Website : |
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Head Office: |
Dharmashree Building, Dharmasthala, Dakshina Kannada - 574216, Karnataka, India |
MANAGEMENT
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Name : |
Dr. D Veerendra Heggade |
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Designation : |
President |
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Date of Birth: |
25.11.1948 |
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Name : |
Mrs. Hemavati V Heggade |
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Designation : |
President Jananavikasa Programs |
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Name : |
Mr. D Surendra Kumar |
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Designation : |
Trustee |
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Name : |
Mr. R V Shastri |
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Designation : |
Trustee |
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Name : |
Mr. Uday Kumar Shetty |
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Designation : |
Trustee |
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Name : |
Mr. Shyam Bhat |
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Designation : |
Trustee |
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Name : |
Mr. Sampath Samraja |
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Designation : |
Trustee |
BUSINESS DETAILS
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Line of Business : |
Providing Infrastructure and Finance through Micro Credit for the
Rural People. [From Indirect Source] |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
6597 [Approximately] |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Companies : |
· Siri Gramodyog - A SKDRDP · Janajagruti · Sampoorna Suraksha |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in INR Million]
NOT DIVULGED
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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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 |
Yes |
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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 |
Yes |
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17 |
Details of sister concerns |
Yes |
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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 |
No |
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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 |
WEBSITE DETAILS
COMPANY PROFILE
Shri Kshethra Dharmasthala Rural Development Project, popularly known as SKDRDP, is a charitable trust promoted by Dr. D. Veerendra Heggade. SKDRDP concentrates on the empowerment of people by organizing Self-help Groups (SHGs) on the lines of Joint Liability Groups (JLGs) and provides infrastructure and finance through micro credit for the rural people.
The Shri Kshethra Dharmasthala Rural Development Project encompasses all aspects of enriching the rural life. It is currently expanding its developmental activities to all the districts of Karnataka. SKDRDP is active with its Community Development Programs throughout the state. The core strengths of the organization are the blessings of its promoters, dedicated band of workers, good will of the stakeholders and above all a comprehensive program to better the living environment of the chosen areas. During the Financial year 2015-16 SKDRDP has extended its area of operation to cover the state of Karnataka completely.
SKDRDP® is registered
under the Charitable Trust Act of 1920 in the office of Sub-Registrar,
Government of Karnataka, Belthangady Taluk, Dakshina Kannada District in the
year 1991.
SKDRDP began to play its role in transfer of technology, providing infrastructure, and providing finance through micro credit. Besides, the project concentrated on the empowerment of rural women and hence began 'Jnanavikasa Program'. In response to the social needs of the area the SKDRDP innovated into activities like Janajagruthi, Community Development, Siri etc.
At the time of inception, a village-level worker known as 'Sevaniratha' would approach the stakeholder families, sit with them to prepare a five year development plan and assist them to implement the same. The Dharmasthala temple has given the required material support like equipment, seed materials on a charity basis. In keeping with the HR policy of the organization, the supervisory staffs were promoted from the sevaniratha cadre in the prevailing areas. This provided a great opportunity for the youngsters to show their oraganisational skills in the new area. Now sevaniratha are replaced by Sevaprathinidhis.
In order to give opportunities to the housewives and unemployed young women in rural areas who have time and inclination to do social work, SKDRDP has developed a new cadre called the Sevaprathinidhi, who work in their spare time and support the SHG movement in the village. Most sevaprathinidhis are women and this has positively affected women men ratio in the organisation. Now sevaniratha are replaced completely by Sevaprathinidhis.
Large quantities of rice was distributed during the initial decades as a compensation for the families while they worked in their own lands. The concept of 'Food for work' was implemented by SKDRDP, with a view to develop the lands. Thus the initial decade of SKDRDP can be considered as the charity phase.
In the early 90s, on review of the project, it was realised that mere charity does not give the desired result. Hence SKDRDP adopted the self-help mode by organizing Self-help Groups (SHGs), more on the lines of Joint Liability Groups (JLGs).
SKDRDP as a BC and BF: SKDRDP took an active part in implementing the financial inclusion plan of the government of India by working as Banking Correspondent and Business Facilitator (BC and BF) in all the areas of its operation. Under the programme SKDRDP is promoting Self Help groups enabling the poor people in the remote villages to access banking facilities at their door steps. SKDRDP is BC and BF to State Bank of India, Union Bank of India, Canara Bank, Corporation bank, IDBI bank, Pragathi Krishna Grameen Bank, Vijaya Bank and Syndicate Bank.
ABOUT DHARMASTHALA
Shri Kshetra Dharmasthala, the land of righteousness and piety, is one of south India’s most renowned religious landmarks with a history as old as 800 years. Manjunatheshwara, the chief deity of the spiritual abode, has taken the form of a shivalinga and made immaculate, the temple town of Dharmasthala since and forever. Lord Manjunatheshwara, is being worshipped in a very unusual yet exceptionally inordinate manner in Shree Kshetra Dharmasthala, as this Shiva temple is beseeched by Vaishnava priests and administered by Jain descendants.
“Dharmasthala”, the abode of dharma, is the quintessence of humanity and faith. As the name suggests, the word dharma in its truest sense means righteousness, it is the embodiment of the world’s most divine emotions in spite of one’s cast, creed or religion.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any
of its beneficial owners, controlling shareholders or senior officers as
terrorist or terrorist organization or whom notice had been received that all
financial transactions involving their assets have been blocked or convicted,
found guilty or against whom a judgement or order had been entered in a
proceedings for violating money-laundering, anti-corruption or bribery or
international economic or anti-terrorism sanction laws or whose assets were
seized, blocked, frozen or ordered forfeited for violation of money laundering
or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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INR |
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US Dollar |
1 |
INR 64.16 |
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UK Pound |
1 |
INR 89.19 |
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Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
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Information
Gathered by : |
KMN |
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Analysis Done by
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VAR |
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Report Prepared
by : |
ARC |
SCORE FACTORS
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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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.