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MIRA INFORM REPORT
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Report No. : |
491537 |
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Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
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Name : |
DIRECTOR GENERAL PROJECT VARSHA |
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Registered
Office : |
Dara Shukoh Road, New Delhi-100011 |
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Tel No.: |
91-11-23010519 |
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Country : |
India |
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Financials (as
on) : |
Not Available |
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Year of
Establishment : |
Not Divulged |
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Capital
Investment : |
Not Divulged |
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IEC No.: |
Not Divulged |
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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 : |
Project undertaken by Indian Government |
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Line of Business
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Providing Navy Underground Secret bases off the East Coast of Country in an Order to Project Nuclear Powered Submarines. [From Indirect Sources] |
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No. of Employees
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Not Divulged |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a Government of India (GoI) undertaking and it is engaged in providing Indian
Navy underground secret bases off the east coast of country in an order to
protect nuclear powered submarines. It was located close to a large facility
of the Bhabha Atomic Research Centre (BARC) It is
located at Rambili which is 50 km away from the Navy’s Eastern Naval Command
headquarters i.e. Visakhapatnam. Work on
the project was began in the year 2005 to de-congest Vizag port, where the
naval dockyards and the submarines base have run out of space. Projects
is used by both Navy and civilian ministry of shipping. There has been
shortage of berthing space for warships as there is a rapid expansion of
eastern fleet which grew from 15 major warships in 2006 to 46 major warships
in 2012 and still expanding. It will
also have underground pens to hide the submarines from spy satellites and
protect them from enemy air attacks. The navy is seeking foreign technical
assistance pertaining to nuclear safety features for the base. It was that
the Central Government has diverged 67 hectares of forest land in Rambili to
Project Varsha which was needed to house a strategic technical area and a
command and control centre. Bhabha
Atomic Research Centre (BARC) is constructing a research and development
complex with 20 km away from Project Varsha at Atchutapuram which will
support the submarine base for which the Central Government has approved 845
hectares area for the new facilities. In Jan
2016, Rear Admiral Asthana assumed the duties of Director General Project
Varsha at New Delhi. He has also received the prestigious Nausena Medal and
commendations by the Chief of the Naval Staff and the Flag Officer
Commanding-in-Chief, Eastern Naval Command. He was also conferred with the
Tenzing Norgay National Award by the President of India in 2016. Payments
seem to be regular. In view
of aforesaid, the project 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 |
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 17.02.2018
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
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Name : |
Mr. Shailesh |
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Designation : |
Not Divulged |
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Contact No.: |
91-11-23010519 |
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Date : |
15.02.2018 |
LOCATIONS
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Registered Office : |
Dara Shukoh Road, New Delhi-100011, India |
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Tel. No.: |
91-11-23010519 |
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Fax No.: |
91-11-23013421 |
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Headquarter: |
Located at: · Vishakhapatnam |
MEMBERS
NOT DIVULGED
BUSINESS DETAILS
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Line of Business : |
Providing Navy Underground Secret Bases off the East Coast of Country in an Order to Project Nuclear Powered Submarines. [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 : |
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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 : |
Not Divulged |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates/Subsidiaries : |
Not Divulged |
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 ANALYSIS
[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 |
No |
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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 |
Yes |
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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 |
Yes |
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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 |
No |
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14 |
Line of Business |
No |
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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 |
Litigations that the firm/promoter
involved in |
-- |
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32 |
Market information |
-- |
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33 |
Payments terms |
No |
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34 |
Negative Reporting by Auditors in the
Annual Report |
No |
WEBSITE DETAILS
PROFILE
Project Varsha is one of the secret projects undertaken by Indian
government to provide Indian Navy underground secret bases off the east coast
of country in an order to protect nuclear powered submarines that would form
one of the third nuclear deterrence platforms of India.
It was planned to be located within a radius of approximately 200
kilometres from Visakhapatnam, which are the headquarters of the Navy’s Eastern
Naval Command. But the base is being developed at Rambilli, 50 km from
Visakhapatnam.
NEED OF INS
VARSHA:
INS Varsha would de-congest the Visakhapatnam Port, which is used by
both the Navy and the civilian Ministry of Shipping. The Navy’s dockyards at
Vizag are facing shortage of berthing space due to the rapid expansion of the
Eastern fleet, which grew from 15 major warships in 2006 to 46 in 2012, and is
still expanding.
ADVANTAGES:
INS Varsha will have a large near-by facility of the Bhabha Atomic
Research Centre (BARC), and will include modern nuclear engineering support
facilities and extensive crew accommodation.
It will also have underground pens to hide the submarines from spy
satellites and protect them from enemy air attacks. The navy is seeking foreign
technical assistance pertaining to nuclear safety features for the base.
INS Varsha would have undisclosed access tunnels on the mouth of deep
water base and highly protected shelters along with jetties that are meant for
demagnetizing submarines and is a conspicuous addition to the base facilities.
The biggest advantage of having underwater deep bases that the
submarines do not need to surface on the water, they can come and go from the
base through multiple underwater tunnels that open directly to the deep sea and
lead straight from the secret base.
In any kind of conflict submarines are one of the most offensive
platform of nuclear deterrence thus they can do their job well while not being
detected by adversaries. The underground bases also provide highest protection
than the ordinary bases on the coast shores provides, the underground bases are
known to maintain top level of secrecy from any kind of threat including the
satellite intelligence.
WHEN WILL IT BE
COMPLETED:
The construction of underground base started in 2009 but has struck several
times due to finance crunch. INS Varsha would be accompanied by a weapon
storage facility called ‘Missile Technical Positions near the underwater base.
INR 1600.000 million were sanctioned for the project in the 2011-12
budgets, of which INR 580.000 million were for civil works and the balance were
for setting up a VLF communication system.
For the security reason, it is still highly classified that how big and
capable the underground base would be but the base reportedly could docked some
8-12 nuclear powered submarine that are under construction and are being
planned. The Varsha would be capable of housing other vessels of navy in forms
of destroyers, frigates and replenishment ships.
PRESS RELEASES:
TOP SECRET:
‘PROJECT VARSHA’ IS INDIA’S ANSWER TO CHINESE PRESENCE IN GWADAR
28.03.2013
NEW DELHI: The Pakistan
Government had formally handed over the possession of strategically located
'Gwadar' port to China last February. The port which is located in troubled
Baluchistan area would prove detrimental for India as China would keep a
military eye on our country despite claims of only trade use of the port. India
may not be able to stop the transfer of the port to China, but, it is silently
developing a port across Eastern border.
The Indian Navy is developing a new top-secret naval base for its
nuclear submarines, code-named Project Varsha, and located within a radius of
approximately 200 kilometers from Visakhapatnam. The new base is designed to
support all 8-12 Arihant -class submarines to be built for the Indian Navy and
it will include state-of-the-art nuclear engineering support facilities and
extensive crew accommodation.
While designed principally as a nuclear submarine support facility, the
new base can accommodate other naval vessels because of the Indian Navy's
expansion. This facility has been compared to the top-secret Hainan nuclear
submarine base for the Chinese PLA Navy. This east coast base expansion program
by the Indian Navy is in direct response to Chinese naval expansion into the
region.
Sources say that India had planned the port much earlier, however, with
Chinese presence in Gwadar, it has pressed on the gas. A flurry of discussions
and meetings has been held in the PMO and defence ministry over the last couple
of months to proceed on the secret venture.
The project would bolster country's nuclear deterrence against its
mighty opponents. It would also help in guarding the naval trade corridors of
the country.
PAKISTAN
HIRES SPIES FOR 'PROJECT VARSHA'; INDIA'S NAVAL BASE TO HOUSE NUCLEAR
SUBMARINES
27.03.2015
NEW DELHI: Two Pakistani
intelligence officers posted in Sri Lanka deputed two spies to get details of
‘Project Varsha’, India’s new naval base near Visakhapatnam which will be home for
its new fleet of nuclear submarines. They also asked the spies to attempt
befriending and luring Indian Navy and Army officers to Colombo where “women
and cash could be arranged” to get information on defence matters, the National
Investigation Agency (NIA) has said in an explosive 43-page charge-sheet
submitted.
The charge-sheet, accessed by ET, says one of the spies – Thameem Ansari
– was asked by the Pakistani officers to pose as a film-maker making a
documentary titled ‘Power of India’ on the Indian armed forces to befriend some
Army and Navy officers. The two Pakistani officers named in the charge-sheet
are Amir Zubair Siddiqui, counsellor (visa) posted with the High Commission of
Pakistan in Sri Lanka and Vineeth alias Rana, “a Pakistan intelligence officer”
also posted in Sri Lanka, the NIA has said.
“Project Varsha is a new naval base being developed for the Indian Navy.
This base will be the home of the Navy’s new fleet of nuclear submarines and
ships of the Indian Navy. Siddique had specifically instructed Ansari to get
details about Visakhapatnam Naval Base and concentrate on Project Varsha for
which he asked him to go to Visakhapatnam and hire an accommodation near naval
station,” the charge-sheet says.
Vineeth had further asked for details on Project Varsha such as “stage
and depth of the channel”, the agency said.
NIA has said that Ansari was told to visit places that naval officers
frequent “viz. hotels, bars, cinema theatres etc” and asked to pose as a rich
businessman to befriend them. “Siddique suggested that if Ansari was able to
befriend ex-Army officers, naval or Army officers, they could be brought to
Colombo, where he would arrange all kinds of facilities for them like women,
cash, drinks etc. for getting information of the defence details,” the agency
said, without mentioning whether Ansari was actually successful in doing
so.
NIA, however, said Ansari and another spy, Arun Selvarajan – arrested in
India in 2012 and 2014 respectively – recced and photographed numerous secret
installations. The charge-sheet lists these places: “Wellington Military
Training Centre and Defence Service Staff College, Station Head Quarters at
Wellington, Karaikkal, Nagapattinam harbours including Naval detachment at
Nagapattinam, Indian Naval base at Mallipattinam, Mallipattinam Fishing Jetty
and Indian Air Force station at Thanjavur.”
Selvarajan, pretending to be an event manager, managed to visit the
Officer’s Training Academy, Chennai, prepare its sketch and also trespassed
into the restricted place of the Chennai Port where the inauguration programme
designed for installation of Vessel Traffic Management System (VTMS) at Chennai
port Trust on July 6, 2012.
“He took classified photographs of VTMS Tower installed for the purpose
of safe navigation of ships including Indian naval and Coast Guard ships,” the
agency said
It further said that Ansari befriended a retired Army officer who had
earlier worked in Para regiment and ASC of Indian Army and got introduced to
him formally in Granary Rotary club of Thanjavur. Ansari went to his home
saying he was producing a movie ‘Power of India’ wherein he had to bring
characters and places related to armed forces and required Army photos and
videos, NIA said. Ansari hence managed to photograph all the insignia and
medals of the said retired Army officer without his knowledge and also procured
a CD from him, ‘Army Para Jumping, according to NIA.
The contents of the emails exchanged between Selvarajan and his
Pakistani handlers include information and photographs of the Indian Army
battle tanks and disclose that Indian Army wants to add another 1,000 T-90S
Tanks by 2020, NIA said.
“Selvarajan was in habit of recording the conversion in micro cassettes
between the handlers and him. The said micro cassettes were recovered on
11.09.2014 from his possession and the same was forwarded to TNFSD, Mylapore,
Chennai for analysis. The result is yet to be received,” the charge-sheet
says.
Ansari and Selvarajan uploaded the photographs/videos of the
reconnaissance of various targets in the common email IDs given by the two
Pakistani officials, NIA said. Siddique had lured Ansari into the plot by
telling him “about the plight of Muslims in India”, it said.
“The Pakistani officials asked for recce of defence installations which
would be useful for attacking these installations and hence commit terror
attacks,” the NIA said, adding that Ansari had demanded $35,000 for the
‘project’.
Selvarajan was also asked to recce the Kalpakkam Atomic Power Plant in Chennai,
collect information about Indian Navy’s ship movements and the NSG as well as
recce a crowded market place in Chennai, the NIA said.
“Selvarajan joined as an employee in the event management groups
functioning at Chennai who were doing event management at Chennai Port, Indian
Coast Guard, Indian Army etc. Under the guise of employee of event management,
he entered prohibited areas,” the charge-sheet says.
HINDU
SAMHATI RALLY TURNS STAGE INTO CONVERSION PLATFORM IN KOLKATA
15.02.2018
KOLKATA: At least 14
members of a Muslim family have been converted to Hinduism during the
foundation day rally of Hindu Samhati, a pro-Hindutva organisation. The
conversion was announced in a public rally in central Kolkata and the family
was taken to the stage amid heavy police presence.
Tapan Ghosh, founder of Hindu Samhati, said that his organisation would
welcome those who were converted forcefully and now want to return to their
roots. “Hosen Ali and his family had come to us for conversion. Ali's wife was a
Hindu and she was forcefully converted. All of them are adults and there was no
need to take permission from the administration for this,” Ghosh told ET. The
programme was organised to mark the 10th anniversary of Hindu Samhati, a
pro-Hindutva fringe group operating in southern Bengal.
According to the group, it is a process of ‘re-conversion’ which has
been initiated during the programme. The announcement was made in presence of
retired army officer General G D Bakshi, who was the chief guest in the programme.
“The members who want to be re-converted would go though both the legal
and ceremonial process of conversion. We have already applied for the legal
conversion process and after the formalities are over, we will have the
ceremonial process,” said a senior activist of Hindu Samhati.
“The family is not from West Bengal. The lady is a victim of love jihad
and she was forcefully converted to Islam. She is now a mother of six. Her
daughters were married, but they were given triple talaq. Now, the family wants
to return to Hinduism and we will facilitate the process. We have announced it
in a public programme to inspire Hindus,” he added.
Sources in the organisation revealed that the outfit has more such
ghar-wapsi programmes in the pipeline.
Following a scuffle with journalists, who tried to talk to the converted
members in the rally, Tapan Ghosh, chief of Hindu Samhati was arrested late in
the evening
NPF’S ALLIANCE WITH BJP NOT OVER:
NAGALAND CM
15.02.2018
KOHIMA: The 15-year alliance between
the ruling Naga People’s Front (NPF) and BJP is not over yet, Nagaland chief
minister TR Zeliang said on Wednesday. NPF has not closed its doors to BJP
despite the two parties are fighting the election as rivals, he added
“The trust between the two parties is still
there. I have a minister from BJP (P Paiwang Konyak) who is still a part of my
cabinet and an adviser from BJP (TN Lotha) in the rank of a cabinet minister,”
Zeliang said after launching NPF’s campaign. Putting the ball in BJP’s court, he
said, “It is for them to decide what to do next.”
BJP state chief Visasolie Lhoungu was also
not averse to the rekindling of ties. “The alliance has not been scrapped as
yet. We have not severed ties with NPF and the door is still open for them,” he
said.
The sudden turnaround has thrown the
contest wide open, leading to speculation about the post-poll scenario and the
fate of former NPF leader and present chief ministerial candidate of the
BJP-NDPP alliance Neiphiu Rio. The Northern Angami-II seat has already gone to
Rio after his opponents withdrew from the contest.
When asked if a post-poll alliance could be
struck in case of a hung assembly, Zeliang said,“There will be no hung
assembly. NPF will get majority on its own.”
According to both Zeliang and Lhoungu, ties
between the two parties went sour over a pre-poll seat sharing agreement.
“We didn’t drive out BJP… they walked away.
They wanted to impose the seat sharing agreement. I told them we can have an
alliance but not a seat sharing agreement. NDPP chased BJP leaders for seat
sharing with an offer of 20 to 40 seats. BJP asked for 15 seats, which we did
not agree to because it was not feasible,” Zeliang said.
Lhoungu admitted, “Our first preference was NPF
but they found it difficult even to share 10 seats. NDPP was willing to give us
20 seats. So, we struck the alliance.”
The trust between the two parties is still
there. I have a minister from BJP who is still a part of my cabinet and an
adviser from BJP in the rank of a cabinet minister.
PM MODI TO GIVE
FINAL PUSH TO BJP CAMPAIGN IN TRIPURA
15.02.2018
Prime Minister Narendra Modi will be in
Tripura today to give a final push to the BJP’s campaign in the state, on the
penultimate day of campaigning, ahead of the February 18 election. Sitting
Chief Minister Manik Sarkar has had four terms in charge.
Modi will address two rallies in
Santirbazar and Agartala.
But Modi's start to the day will be in
Arunachal Pradesh to inaugurate the Dorjee Khandu state convention centre, and
to re-launch Doordarshan north-east. This is Modi's first visit to the state
since the standoff between Indian and Chinese troops at the border in Doklam
last year.
SUBSIDISED TRIP TO
HOLY LAND TICKET TO VICTORY IN NAGALAND?
15.02.2018
KOHIMA: In Christian-dominated Nagaland,
Congress is trying to steal BJP’s thunder by promising voters a visit to the
Holy Land — Jerusalem — at a subsidised cost if voted to power. The drama to
woo Christians was played out in the poll-bound state on Wednesday even as
reports in a section of media said that BJP might send Nagas to Jerusalem for
free. Christians constitute about 88% of Nagaland’s voters.
Though Congress had included this promise
in its election manifesto, which it chose to release on the social media on
February 9 instead of an official function, it wasn’t noticed as the party has
become a minor player in the state politics, contesting only 18 of the 60
seats.
However, coming close on the heels of
Nagaland Baptist Church Council’s statement against Hinduvta forces, whom the
church accused of ‘invading’ the state, talks of a similar promise by BJP
created quite a political stir even though the reports were not confirmed
officially by the party.
A BJP source admitted that the offer of free
trips to Jerusalem was leaked from the election broadcast script of BJP which
was submitted to All India Radio. “The party has not officially announced it,
but the script must have leaked somehow,” said the source. All political
parties, which are allotted time for AIR broadcasts, have to submit scripts of
their speeches before recording so that AIR authorities can screen them.
BJP spokesperson in Nagaland James Vizo
told TOI: “Whatever is circulated on the social media or for that matter what
leaders say are their personal opinions and not the views of BJP.”
BJP is scheduled to release its manifesto
on Friday.
Nagaland Congress president K Therie was
quick to point out that Congress made the promise of taking people to the Holy Land
long before anyone else. “We took the decision in October and in January we got
it approved by AICC and in February we announced it in our manifesto,” he told
TOI. “But, parties (BJP) who are yet to bring out their manifesto are doing
better than us by promises of trip to the Holy Land. People have turned a blind
eye to our offer, which is subsidised travel exependiture. People are talking
of our offer today because of BJP’s offer, which is yet to be made formally,”
he added.
Therie said the Church is very happy with
the Congress’s offer. “On the other hand, the Church is not happy with BJP and
its Hindutva. Congress is certain that the Jerusalem offer would turn the wind
in its favour,” he added.
The Congress manifesto says, “By an Act of
the state government, a board will be established to facilitate minorities to
visit the Holy Land at a subsidised cost.”
LEFT BANKS ON
PEACE, PENSIONS; BJP PROMISES ROADS TO GROWTH
15.02.2018
AGARTALA: Tripura’s map resembles
a thumbs-down sign, tucked mostly inside Bangladesh. But whether it’ll be
thumbs-up for the Left this election is the question, as the communists face a
fierce contest for the first time in their unbroken 25-year stint in
power.
The Left has governed Tripura in two phases
— first from 1978-88 and second from 1993 till now. In its first innings, the
Left corrected the ‘flaws’ in the previous Congress government’s decision to
settle Bengali refugees on tribal land. For context, in Census 1951-52, tribals
formed the bulk of the population, but over the decades were outnumbered by
Bengali refugees from erstwhile East Pakistan. In its first stint, the Left not
only restored tribal land, but also offered them self-rule, setting up the
Tripura Tribal Autonomous District Council. These decisions helped the Left
consolidate its hold in the tribal belt. In 2013, it won all 20 ST seats.
During Congress’s reign (1988-1993), the
state was caught in the vortex of ethnic conflict between majority Bengalis and
minority tribals, who had by then intensified their movement for a separate
state. In its second phase, the Left made peace between the two ethnic groups
its mission, managing to keep the majority of tribals away from prostatehood
militant groups. Almost all tribal underground outfits are non-existent
today.
Manik Sarkar has been at the helm for 20 years
now and is leading the Left in its quest for power for a sixth consecutive
term, focusing on what it calls its ‘three jewels’ — peace, unity and development.
The Left hopes its government’s track record will help overcome the BJP
challenge.
It says it successfully handled
insurgencies in the state. In the 1990s and early 2000s, the main underground
outfit was National Liberation Front of Tripura (NLFT). Sarkar took on NLFT by
strengthening Tripura Police and Tripura State Rifles, chasing militants right
inside Bangladesh. Union home ministry records show civilian fatalities in
rebel attacks fell from 237 in 2001 to 14 in 2008. ‘Reformed’ militants were engaged
in rubber cultivation – Tripura being one of India’s highest rubberproducing
states – though the sector is underdeveloped and vulnerable to fluctuations in
rubber-sheet prices in China.
“Sarkar single-handedly wiped out
insurgency that held the state in its grip for years,” says Subir Bhaumik,
northeast-watcher, adding that while the Left government brought stability, it
failed to create jobs. Educated youth have migrated and the number of
government job-seekers is growing — 6,93,516 or 18% of the population had
signed up for state jobs till March 2016.
But it’s the 30-odd pension schemes and
health and education facilities in the state’s remote corners that speak of the
government’s achievements, says Bijan Dhar, state CPM secretary, adding that roads,
farm subsidy and no cases of farmer suicides are the Manik Sarkar government’s
high points. Tripura also fared well in MGNREGA rollout in 2015-16, giving 95
man days to rural households out of the stipulated 100 a year. But creation of
rural assets remains a problem.
There’s also the teachers’ case. Supreme
Court last year struck down recruitment of 10,323 government teachers on
grounds of improper appointments. In 2013, these teachers were allegedly
recruited on ‘merit’ and not as per Right to Education rules. BJP’s used this
as a campaign weapon, accusing the Left of making false claims.
“The Left has destroyed Tripura, keeping
its people in a state of permanent backwardness,” says state BJP president
Biplab Deb, adding that there is “massive antiincumbency”. “I won’t say people
in Tripura have understood BJP’s ideology but they’re eager to bring about
change.” The party has promised SEZs, for bamboo and food processing, and
smartphones among other things.
CONGRESS, BJP ROLL
OUT RED CARPET FOR MINING CZARS
15.02.2018
BENGALURU: Several tainted Ballari mining czars
looking for political resurrection ahead of the assembly polls in Karnataka are
getting a godsend opportunity by Congress and BJP, who are keeping their
doors open for these exiles. Congress, which returned to power in 2013
posturing as a saviour of the state’s natural wealth by undertaking a padayatra
from Bengaluru to Ballari against illegal mining, has already embraced tainted
MLAs Anand Singh of Hosapete and B Nagendra of Kudligi.
Both are out on bail in the illegal mining case. In fact, both were star
attractions at AICC president Rahul Gandhi's ‘Janashirvaad Yatra’, which
kicked off on Saturday from Hosapete. Here, CM Siddaramaiah made a chest-thumping
speech on how he dismantled the mining lobby and their ‘Republic of Bellary’,
as described in the Lokayukta report on illegal mining. Congress is also said
to be wooing Ballari strongman Sriramulu’s nephew and Kampli MLA H T Suresh
Babu.
These decisions have left many loyal local Congress leaders in Ballari,
who fought the mining lobby with great risk to their lives, high and dry. BJP,
too, is cozying up to the resourceful Reddy brothers through their best friend
Sriramulu. In all probability, G Somashekar Reddy and G Karunakar Reddy are
likely to contest on a BJP ticket from Ballari City and Harapanahalli
constituencies, respectively. Kampli MLA Suresh Babu will be the BJP candidate,
if he chooses to remain in the party.
Sources said efforts are on by a section of BJP to bring back Gali
Janardhan Reddy, the most powerful and influential of all mining czars. He is
on bail and barred by court from entering Ballari district. “Though the party
may not embrace him openly, he will be a key player in Ballari and adjoining
districts,’’ said a BJP leader in the know of things.
The Reddys had never been discreet about their association with BJP,
especially with external affairs minister Sushma Swaraj before she
publicly disowned them after they were indicted for illegal mining and export
of iron ore. Now, with the entry of Singh and Nagendra into Congress, BJP has
taken this as an excuse to make its relations with the Reddy brothers more
obvious.
Meanwhile, the INR 6.400 million gold-plated silver idol of Maharishi Valmiki,
gifted to Rahul by Nagendra in Hosapete on Saturday, is turning out to be a
burden for Congress. After being criticised by BJP for accepting the gift,
Karnataka Congress in charge K C Venugopal announced that the idol would be
handed over to the muzrai and endowments department.
However, it looks like there are no takers for the idol there. Muzrai minister
Rudrappa Manappa Lamani is worried about the expensive gift being given to him.
ECONOMIC
OFFENCES COURT ISSUES NOTICE TO DK SHIVAKUMAR
15.02.2018
The Economic Offences Court in Bengaluru on
Wednesday took cognisance of the Income-Tax department’s plea to launch
criminal prosecution against energy minister DK Shivakumar charging him with
attempting to destroy “crucial” evidence during the I-T team’s raids on him at
Eagleton Golf resort on the city outskirts on August 2.
The judge ordered notices to the minister
asking him to appear on March 22 and face the trial. The I-T department has
slapped destruction of evidence charges against him under relevant sections
under the Income Tax Act as well as the Indian Penal Code. The offence under
section 401 of the IPC, which the department has slapped, is non-bailable, and
the minister will now need to apply for bail.
The senior Congress leader, according to
the I-T department, removed some loose sheets of paper from his wallet and tore
them into pieces. The officials gathered them, pieced them together, took down
the details of the companies and individuals who allegedly owed money to the politician.
The department later conducted raids on them – cable companies and other
individuals – and recorded their evidence to proceed in the case, and also
unearthed unaccounted money in their possession, according to sources.
Principal Director (Investigation) R
Ravichandran later issued sanction to his team members to launch criminal
prosecution against the minister.
The senior Congress leader had hosted a
group of Congress MLAs from Gujarat at the golf resort off Mysuru Road at the
time of the I-T raids to secure them against any poaching attempts during the
Rajya Sabha polls in which political secretary to AICC president Ahmed Patel
was a candidate.
YOU CAN SOON GET
REVENUE CERTIFICATES OVER THE COUNTER
15.02.2018
BENGALURU: The Revenue Department’s
initiative of issuing caste, income and residence certificates over the counter
— touted as India’s first such facility — will be extended to Bengaluru soon.
Pre-creating the certificates for the 1-crore-plus city population, however,
would be a long and daunting process.
The government took up the task of
pre-creating caste, income and residence certificates of every person in
Karnataka, excluding Bengaluru, more than a year ago. Village accountants were
entrusted with the task of visiting each household and certify caste, income
and residence based on ration card data, computerise the information and create
certificates.
Once certificates were created for the
entire population (4-5 crore), the next step was to launch an over-the-counter
facility. Applicants, who in the past had to wait for two or more weeks for a
certificate, now get them instantaneously. The facility was launched last
month.
The Revenue Department did not include
Bengaluru in the exercise due to challenges in field verification. According to
revenue officials, Bengaluru was kept out because of the lack of manpower.
Since the rest of the state has been covered, time and resource will now be
diverted to Bengaluru.
Munish Moudgil, commissioner of Survey,
Settlement and Land Records, said the department did not include Bengaluru in
the exercise for two reasons. One, for want of village accountants to carry out
field verification. Two, the requirement for caste, income and residence
certificates is relatively low in Bengaluru. “We will commence the
house-to-house visits/ verification process by mid-May and intend to complete
the work in eight months,” Moudgil said.
Verification using the ration card database
is not going to be easy for the revenue staff. “We are short of staff to cover
one crore population. We will have to depute village accountants from other
parts of Karnataka to carry out door-to-door survey,” Moudgil said.
Since only the revenue staff is authorised
to certify caste, income and residence, the department can not involve the
urban local body in the process. Officials admit that an exercise of this
magnitude cannot be carried out without the help of the Bruhat Bengaluru
Mahanagara Palike. “Unlike villages, the challenge in cities is that revenue
staff cannot identify residents. We faced similar issues in municipal
corporations like Mysuru and Mangaluru. We had to overcome the issue by
involving municipal bill collectors in identifying houses. We will follow the
same model in Bengaluru too,” the officer said.
CITY A CHALLENGE
Unlike villages, the challenge in cities is that
revenue staff cannot identify residents. We had to overcome the issue by
involving municipal bill collectors in identifying houses.
372 CANDIDATES IN THE
FRAY FOR MEGHALAYA ASSEMBLY POLLS
15.02.2018
GUWAHATI: Regional parties are challenging
the 15-year Congress rule in Meghalaya which goes to polls on February 28.
Around 372 candidates – among them, 32 female — are in the fray for the
60-member Assembly contest.
The ruling Congress is battling
anti-incumbency, and the party has seen an exodus of several leaders in the
run-up to the polls. The state’s economy has been hit hard by the National
Green Tribunal banning rat-hole mining in Meghalaya.
Rat-hole mining is a practice unique to
Meghalaya and coal miners in many areas are blaming the ruling Congress for not
doing anything about it.
Regional parties including National
People's Party (NPP) have emerged as strong contenders to challenge Congress.
BJP NO THREAT TO
CONGRESS IN MIZORAM: CM LAL THANHAWLA
15.02.2018
EW DELHI: Mizoram chief minister Lal
Thanhawla has said that he does not see the BJP as a threat ahead of the assembly
election in the state due in the last quarter of 2018. “I am aware of their
(BJP’s) efforts under the North-East Democratic Alliance (NEDA), but they will
not be able to dent our chances. Modi is no threat for the Congress in
Mizoram,” the Congress leader and fivetime CM told ET.
“It is too early to say who our main
opponent will be as so many political formations are happening,” he said. The
Congress had won 34 of the 40 seats in the state assembly in 2013. Thanhawla
was in Delhi for the ‘Magnetic Mizoram Roadshow’, a curtain raiser for the
first investors’ summit to be held in Aizawl in April, to attract investors to
the north-eastern state.
The CM said Mizoram has just started
implementing a sustainable economic growth oriented policy. “I want Mizos to
move from subsistence economy to sustainable economy. We feature among the top
four fastest growing states. Also, NITI Aayog had called Mizo-ram the least
malnourished state in the country. The ministry of finance has forecast a
two-digit GSDP (gross state domestic product) growth,” he said.
Asked about the poor infrastructure in
Mizoram despite the “stable (Congress) government” since 2008, he said: “We are
a poor state. We need industry to become rich. I can say that we can offer a
safe and clean platform to any industry that wants to set up base in the
state.” Insurgency is a thing of the past in the state, Thanhawla said. “I can
proudly say that Mizoram is the most peaceful state in the country, with
literacy level (91.6%) second only to Kerala… The youth of the state are no
longer feeling isolated; they have given up arms and are both men and women are
now joining the armed forces,” he said. “We want to end this tag of Mizoram
being the least travelled state in the Northeast.”
On being asked if the porous 510-km
international border with Myanmar along with a free movement regime (FMR) can
pose problems, the CM said he does see that as a possibility. The FMR, which
allows Mizo people living in Myanmar to enter the state for a few kilometres has
been misused by terrorists and insurgents.
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RUP |
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.
·