|
|
|
MIRA INFORM REPORT
|
Report No. : |
491785 |
|
Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ABHYUDAYA CO-OPERATIVE BANK LIMITED |
|
|
|
|
Registered
Office : |
Abhyudaya Nagar, Building No. 36, G Ambekar Marg, Kalachowky, Mumbai –
400033, Maharashtra |
|
Tel. No.: |
91-22-27895121 |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2016 (Profit and Loss A/c) |
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|
|
|
Year of
establishment: |
1964 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1127.059 Million (As on 31.03.2015) |
|
|
|
|
IEC No.: |
Not Applicable (As claimed by company management that company does not export and import) |
|
|
|
|
GSTIN/UIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Co-Operative Bank |
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Line of Business
: |
Providing banking and financial services. (From Indirect Sources) |
|
|
|
|
No. of Employees (From Indirect
Sources): |
3000 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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|
Comments : |
Abhyudaya Co-operative Bank Limited is an urban multi-state Cooperative banking institution based in Maharashtra, India and operating as a co-operative bank since 1964. The Bank was conferred with Scheduled Bank Status by Reserve Bank of India in September 1988. It has branches in Metropolitan Mumbai, Navi Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali and Aurangabad in Maharashtra State, Vadodara and Ahmedabad in Gujarat State, Udupi and Mangalore in Karnataka State. It has 111 computerized branches in India. The services offered by the bank includes ATM, RTGS/NEFT/SWITFT, Moneygam/ Xpress money, Insurance products, etc. For the financial year 2016, the bank has achieved decent sales turnover which has improved as compared to previous year marked by satisfactory profit margin. The healthy financial profile of the bank is marked by strong networth base. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. Business is active. Payments seems to be regular. In view of aforesaid, the bank can be considered for good 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.
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 14.02.2018
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 BY
Management denied to provide general details of Subject Company (91-22-27895121)
LOCATIONS
|
Registered Office: |
Abhyudaya Nagar, Building No. 36, G Ambekar Marg, Kalachowky, Mumbai –
400033, Maharashtra, India |
|
Tel. No.: |
91-22-27895121/24180961/24180962/24180963/24180964 |
|
Fax No.: |
91-22-24109782 |
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E-Mail : |
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Website : |
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|
Head Office |
K.K. Tower, Abhyudaya Bank Lane, Off G.D. Ambekar Marg,
Parel Village, Mumbai - 400 012, Maharashtra, India |
|
Tel. No.: |
91-22 24180961-65 /65053690 |
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Fax No.: |
91-22-24109782 |
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Note: Branches 110 |
|
MANAGEMENT
|
Name : |
Mr. Sitaram C. Ghandat |
|
Designation : |
Chairman |
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|
Name : |
Mr. Nityanand M. Prabhu |
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Designation : |
Vice-Chairman |
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Name : |
Mr. Puneethkumar R. Shetty |
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Designation : |
Managing Director |
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|
Name : |
Mr. Mohan S. Ghandat |
|
Designation : |
Director |
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|
Name : |
Mr. Amba P. Patel |
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Designation : |
Director |
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|
Name : |
Mr. Bharat M. Ghandat |
|
Designation : |
Director |
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|
Name : |
Mr. Achyut L. Kandpile |
|
Designation : |
Director |
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|
Name : |
Mr. Ashok R. Chalke |
|
Designation : |
Director |
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|
Name : |
Mr. Mhatarba S. Kane |
|
Designation : |
Director |
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|
Name : |
Mr. Harihar S. Jaiswar |
|
Designation : |
Director |
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|
Name : |
Mr. Jessie C. D'Silva |
|
Designation : |
Director |
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|
Name : |
Ratnamala M. Gorde |
|
Designation : |
Director |
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|
Name : |
Mr. Sandeep S. Ghandat |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Jayantilal C. Jain |
|
Designation : |
Director |
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|
Name : |
Mr. Waman V. Nalbhimwar |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Jagajeevandas Raai |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Kanifnath N. Aher |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Kishor T. Kadam |
|
Designation : |
Staff Representative |
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|
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|
Name : |
Mr. Vijay G. Parkhe |
|
Designation : |
Staff Representative |
KEY EXECUTIVES
|
Name : |
Mr. Kishor T. Kadam |
|
Designation : |
Staff Representative |
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|
|
|
Name : |
Mr. Vijay G. Parkhe |
|
Designation : |
Staff Representative |
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|
Name : |
Mr. Rajeev D. Gangal |
|
Designation : |
Chief General Manager |
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|
Name : |
Mr. Dhanji G. Kurlawala |
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Designation : |
General Manager ( I.T. Dept.) |
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|
Name : |
Mr. Puneetkumar R. Shetty |
|
Designation : |
General Manager (Legal and Recovery) |
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|
Name : |
Mr. Prasanta K. Mohapatra |
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Designation : |
General Manager (Treasury and Clearing ) |
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|
Name : |
Mr. Sonudas A. Naik |
|
Designation : |
General Manager (Development and KYC/AML) |
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|
Name : |
Mr. Camillo F. Fernandes |
|
Designation : |
General Manager (HRM and Accounts) |
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|
Name : |
Mr. Premnath S. Salian |
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Designation : |
General Manager (Credit and Forex) |
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|
Name : |
Mr. Anil K. Nikam |
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Designation : |
Deputy General Manager (Pune Zone and Regional Office Udupi) |
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|
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|
Name : |
Mr. Bhaskar M. Shetty |
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Designation : |
Deputy General Manager (Western Zone and Regional Office Ahmedabad) |
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|
Name : |
Mr. Anthony P. Naronha |
|
Designation : |
Deputy General Manager (Central Law) |
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|
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|
Name : |
Mr. Pradeep V. Kamat |
|
Designation : |
Deputy General Manager (Legal and Recovery) |
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|
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|
Name : |
Mr. Girish V. Rane |
|
Designation : |
Deputy General Manager (Central Zone ) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Providing banking and financial services. (From Indirect Sources) |
|
|
|
|
Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees (From Indirect
Sources): |
3000 (Approximately) |
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||||||||||||||||||||||
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Bankers : |
|
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Auditors : |
Not Divulged |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 1127.059 Million
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET
|
CAPITAL AND
LIABILITIES |
|
31.03.2015 |
31.03.2014 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
Share Capital |
|
1127.059 |
1014.453 |
|
Reserve Fund and Other Reserves |
|
13845.288 |
13689.069 |
|
Deposits and Other Accounts |
|
97610.739 |
93308.968 |
|
Borrowings |
|
48.627 |
447.007 |
|
Bills For Collection Being Bills Receivable (As per Contra) |
|
576.202 |
442.982 |
|
Overdue Interest Reserve |
|
994.522 |
608.466 |
|
Interest Payable |
|
159.164 |
181.795 |
|
Other Liabilities |
|
2872.803 |
2202.076 |
|
Profit and Loss Account |
|
336.800 |
980.548 |
|
|
|
|
|
|
TOTAL |
|
117571.204 |
112875.364 |
|
|
|
|
|
|
PROPERTY AND ASSETS |
|
|
|
|
|
|
|
|
|
Cash And Bank Balances |
|
5588.337 |
4823.552 |
|
Balances With Other Banks |
|
5059.030 |
4432.786 |
|
Money At Call and Short Notice |
|
300.000 |
0.000 |
|
Investments |
|
38656.703 |
36968.287 |
|
Advances |
|
57463.215 |
57004.712 |
|
Interest Receivable |
|
|
|
|
On Investments |
|
709.161 |
732.515 |
|
On Advances |
|
994.522 |
608.466 |
|
Bills Receivable Being Bills For Collection (As Per Contra) |
|
576.202 |
442.982 |
|
Branch Adjustments |
|
0.075 |
10.386 |
|
Fixed Assets |
|
5857.265 |
5928.415 |
|
Other Assets |
|
2096.410 |
1642.997 |
|
Deferred Tax Asset |
|
270.284 |
280.266 |
|
|
|
|
|
|
TOTAL |
|
117571.204 |
112875.364 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
INTEREST
And DISCOUNT |
|
|
|
|
|
On Advances |
5898.417 |
6171.994 |
6505.045 |
|
|
On Investments |
4028.688 |
3806.703 |
3141.428 |
|
|
On Lending
(Rev.Repo/Call/CBLO/LAF) |
153.631 |
96.020 |
31.140 |
|
|
Commission and Exchange |
115.401
|
113.800 |
84.771 |
|
|
Locker Rent |
35.119 |
27.970 |
25.196 |
|
|
Service Charges |
232.758 |
240.389 |
254.750 |
|
|
Sundry Income |
74.825 |
71.327 |
80.727 |
|
|
Profit on Sale of Investments |
309.822 |
314.703 |
320.607 |
|
|
Profit on Sale of Assets |
1.483 |
1.210 |
1.158 |
|
|
Bad Debts Written off
Recovered |
31.429 |
36.966 |
49.141 |
|
|
BDDR written back |
16.846 |
445.577 |
22.600 |
|
|
Excess Provision for I-Tax
written back |
0.000 |
0.011 |
8.750 |
|
|
Prov.for Deprn.on Investment
Written Back |
0.010 |
712.840 |
0.000 |
|
|
Erosion of Assets written back |
0.000 |
0.090 |
0.000 |
|
|
Prov.for Std Aseets Written
Back |
0.000 |
30.000 |
0.000 |
|
|
Prov.for Fraud and Misapp.
Written Back |
0.000 |
2.000 |
0.000 |
|
|
Fraud and Misapp. Written back
|
1.375 |
0.000 |
0.000 |
|
|
TOTAL
(A) |
10899.804 |
12071.600 |
10525.313 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
INTEREST ON DEPOSITS and
BORROWINGS |
|
|
|
|
|
On Deposits |
7514.882 |
7587.589 |
6652.249 |
|
|
On Borrowings (Repo/ Call/
CBLO/LAF) |
173.560 |
106.895 |
131.694 |
|
|
Salaries, Allowances, PF,
Gratuity etc. |
1249.628 |
1254.554 |
1032.358 |
|
|
Directors Sitting Fees and
Allowances |
7.327 |
6.562 |
7.036 |
|
|
Rent, Rate, Taxes, Insurance
and Lighting |
353.134 |
344.886 |
324.240 |
|
|
Legal and Professional Charges |
18.576 |
11.979 |
20.101 |
|
|
Audit Fees |
16.754 |
16.907 |
14.332 |
|
|
Postage, Telegram and
Telephone |
42.012 |
46.232 |
46.702 |
|
|
Amortisation of Computer
Software |
24.027 |
21.626 |
18.684 |
|
|
Printing and Stationery |
24.350 |
28.095 |
25.192 |
|
|
Advertisement |
36.051 |
40.667 |
50.870 |
|
|
Repairs and Maintenance |
76.053 |
70.187 |
62.963 |
|
|
Travelling and Conveyance |
9.739 |
11.360 |
12.269 |
|
|
Subscription |
1.378 |
1.247 |
1.118 |
|
|
Sundry Expenses |
265.911 |
249.679 |
207.034 |
|
|
Loss on Sale of Assets |
2.214 |
0.161 |
0.554 |
|
|
Bad Debts written off |
16.846 |
445.577 |
22.600 |
|
|
Other Assets written off |
0.000 |
0.090 |
0.000 |
|
|
Fraud and Misapp. Written back |
1.376 |
0.000 |
0.000 |
|
|
Depreciation on Shifting of
Investment |
9.426 |
24.703 |
44.109 |
|
|
Provision for Depreciation on
Investment |
0.000 |
0.000 |
682.515 |
|
|
Amortisation of Premium on
Investments |
55.956 |
45.705 |
39.700 |
|
|
Provision towards Fraud and
Misapp |
12.734 |
0.000 |
0.000 |
|
|
Provision towards Standard
Assets |
0.000 |
0.000 |
7.500 |
|
|
Provision towards BDDR |
570.000 |
793.000 |
108.500 |
|
|
Provision towards Restructured
Assets |
16.254 |
24.374 |
94.000 |
|
|
TOTAL |
10498.188 |
11132.075 |
9606.320 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
401.616 |
939.525 |
918.993 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
192.270 |
185.604 |
160.383 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
209.346 |
753.921 |
758.610 |
|
|
|
|
|
|
|
Less |
TAX |
185.699 |
417.121 |
91.614 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
23.647 |
336.800 |
666.996 |
|
|
|
|
|
|
|
Add |
TRANSFER TO INVESTMENT FLUCTUATION RESERVE |
0.000 |
0.000 |
228.000 |
|
|
|
|
|
|
|
Add |
TRANSFER FROM DIVIDEND EQUALISATION FUND |
0.000 |
0.000 |
25.552 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
23.647 |
336.800 |
920.548 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flows from (used in) operations |
|
NA |
NA |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
|
|
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1014.453 |
1127.059 |
|
Reserve Fund and Other
Reserves |
13689.069 |
13845.288 |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
|
Net
worth |
14703.522 |
14972.347 |
|
|
|
|
|
Borrowings |
447.007 |
48.627 |
|
Total
borrowings |
447.007 |
48.627 |
|
Debt/Equity
ratio |
0.030 |
0.003 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Total Income |
10525.313 |
12071.600 |
10899.804 |
|
|
|
14.691 |
(9.707) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Total Income |
10525.313 |
12071.600 |
10899.804 |
|
Profit |
666.996 |
336.800 |
23.647 |
|
|
6.34% |
2.79% |
0.22% |
LEGAL
CASE
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
06/11/2017 |
||||
|
Lodging No.:- |
NMCDL/722/2017 |
Filing Date:- |
06/11/2017 |
||
|
Main Matter |
|
Lodging No.:- |
NMCDL/47/2016 |
Reg No.:- |
NMCD/151/2017 |
|
Petitioner:- |
BUILDTECH ASSOCIATE |
|
Respondent:- |
ABHYUDAYA CO-OPERATIVE BANK LIMITED |
|
Petn.Adv.:- |
SOLICIS LEX – (I3601) |
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTIONS IN COMMERCIAL DIVISION MATTERS |
|
Next Date:- |
20/02/2018 |
Stage:- |
FOR DIRECTION [ORIGINAL SIDE MATTERS] |
|
Coram:- |
HON'BLE SHRI JUSTICE S.J. KATHAWALLA |
|
Act :- |
Code of Civil Procedure 1908 |
CASE DETAILS
BENCH:-BOMBAY
|
Presentation
Date:- |
04/04/2017 |
|
|||||||
|
|
Lodging No.:- |
CARBPL/180/2017 |
Filing Date:- |
04/04/2017 |
Reg. No.:- |
CARBP/395/2017 |
Reg. Date:- |
01/08/2017 |
|
|
Petitioner:- |
M/S. JINAL INDUSTRIES
AND 9 ORS. |
|
Respondent:- |
ABHYUDAYA CO-OPERATIVE BANK LIMITED |
|
Petn.Adv.:- |
BRIAN DLIMA (I1726) |
|
Resp.Adv.:- |
VUSHAL CHANDRAKANT GHOSALKAR (I2892) |
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
ARBITRATION PETITION U/S 34 OF ARBITRATION
AND CONCILIATION ACT, 1996 |
|
Next Date:- |
22/02/2018 |
Stage:- |
ARBP FOR ADMISSION U/S 34 FRESH |
|
Coram:- |
HON'BLE SHRI JUSTICE R.D. DHANUKA |
|
Last Date:- |
01/02/2018 |
Stage:- |
ARBP FOR ADMISSION U/S 34 FRESH |
|
Last Coram:- |
HON'BLE SHRI JUSTICE R.D. DHANUKA |
|
Act :- |
Arbitration and Conciliation Act 1996 |
Under Section:- |
34 |
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
01/03/2017 |
||||
|
Lodging No.:- |
NMCDL/90/2017 |
Filing Date:- |
01/03/2017 |
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Main Matter |
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Lodging No.:- |
CARBPL/36/2017 |
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Petitioner:- |
M/S PLAZA HOTELS PRIVATE LIMITED. AND 2 ORS. |
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Respondent:- |
ABHYUDAYA CO-OP. BANK LIMITED. AND KAMAT HOTELS (INDIA) LIMITED. (APPLICANT) |
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Resp.Adv.:- |
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District:- |
MUMBAI |
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Bench:- |
SINGLE |
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Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTIONS IN COMMERCIAL DIVISION MATTERS |
|
Act :- |
Arbitration and Conciliation Act 1996 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
THE BEGINNING:
A dedicated group of social workers and labour movement activists, imbued with the
spirit of service to the cause of mill workers, other industrial and hitherto
neglected economically weaker sections of society started Abhyudaya Co-
Operative Credit Society Limited. in 1964, with a small share capital of INR
5,000. The area of Kalachowki, Sewri, Parel and their surroundings were
predominantly populated by low income industrial labour and lower middle class
people at that time. In a short period of time Abhyudaya Co- Operative Credit
Society got converted into an Urban Co- Operative Bank. Finally in June 1965,
Abhyudaya Co-Operative Bank Limited was established with the motto of
"Prosperity through Co-operation".
A FORWARD MARCH:
The Bank was conferred with Scheduled Bank Status by Reserve Bank of India in
September 1988. Over a span of 51 years, it became one of the leading Urban Co-
Operative Bank in the country with branches in Metropolitan Mumbai, Navi
Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali, Aurangabad,
Ahmednagar and Pen in Maharashtra State, Vadodara and Ahmedabad in Gujarat
State, Udupi and Mangalore in Karnataka State. On 11th January, 2007 the Bank
was registered as a MultiState Co- Operative Bank by the Central Registrar,
New Delhi. The area of operation of the bank is confined to 3 States -
Maharashtra, Gujarat and Karnataka. The Bank further proposes to extend its
area of operation to other States. The merger of Shree Krishna Sahakari Bank
Limited., Vadodara, Gujarat State, Janatha Co- Operative Bank Limited, Udupi,
Karnataka State and Manekchowk Co- Operative Bank Limited., Ahmedabad, Gujarat
State has been effected.
MISSION
To continuously strive for synergy between technology, systems and human
resources for providing products and services that meet the quality,
performance and aspirations of the vast clientele and to maintain the highest
standards of ethics and societal responsibilities, constantly innovate products
and processes and develop teams that keep the momentum going to take the Bank
to excellence.
ATM BANKING
The Abhyudaya Banks, RELAX 24 ATM's are interconnected which are located in Mumbai, Navi Mumbai, Pune, Aurangabad, Nagpur, Nashik, Nanded, Kankavli,Udupi, Ahmadabad.
ABHYUDAYA BANK has joined NFS (National Financial Switch) ATM network. Through
this ATM network now our customers have access to more than 1,94,000 ATM’s all
over INDIA.
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
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
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.