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MIRA INFORM REPORT
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Report No. : |
485513 |
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Report Date : |
13.01.2017 |
IDENTIFICATION DETAILS
|
Name : |
MAHARASHTRA INDUSTRIAL DEVELOPMENT CORPORATION |
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Principal Office / Registered office : |
4, 4(A), 12th Floor, World Trade Centre Complex, Cuffe
Parade, Colaba, Mumbai – 400005, Maharashtra |
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Tel. No.: |
91-22-22151451 / 52 / 53 |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.08.1962 |
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Com. Reg. No.: |
Not Available |
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Capital
Investment / Paid-up Capital : |
Not Available |
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CIN No.: [Company Identification
No.] |
Not Available |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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GSTIN : |
Not Divulged |
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Legal Form : |
Agency of Government of Maharashtra. |
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Line of Business
: |
It provides businesses with Infrastructure such as Land
(Open Plot or Built-up Spaces), Roads, Water Supply, Drainage Facilities and
Street Lights. (Confirmed by management) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Maharashtra Industrial Development Corporation (MIDC), established in 1962, under M.I.D. Act 1961 as the premier industrial infrastructure development agency of Government of Maharashtra It is a project of the government of Maharashtra state in India and is the leading corporation of Maharashtra. It provides businesses with infrastructure such as land (open plot or built-up spaces), roads, water supply, drainage facilities and street lights. Mr. Sanjay Sethi, IAS, is the CEO of MIDC (Maharashtra Industrial Development Corporation). MIDC manages its 289 industrial complexes spread over 66,000+hectares of land. MIDC has one of the largest industrial land banks amongst all the Industrial development corporations in India. Rating takes into consideration subject long standing track record along with well experienced management team. Payments are reported to be regular and as per commitments. Since subject is an agency of Government of Maharashtra, it can be considered good for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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 13.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-22-2215145)
LOCATIONS
|
Principal Office / Registered office : |
4, 4(A), 12th Floor, World Trade Centre Complex, Cuffe
Parade, Colaba, Mumbai – 400005, Maharashtra, India |
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Tel. No.: |
91-22-22151451 / 52 / 53 |
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Fax No.: |
Not Available |
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E-Mail : |
jtceoit@midcindia.org |
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Website : |
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Head Office : |
“Udyog Sarathi”, Marol Industrial Area, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91- 26870052/ 54 /27 |
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Regional Offices : |
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Units : |
Located at : MERCEDES BENZ –
CHAKAN, PUNE
AUDI – AURANGABAD
JLR – CHAKAN, PUNE
TATA MOTORS –
CHAKAN, PUNE
INFOSYS – PUNE
BAJAJ – CHAKAN,
PUNE
SANY – CHAKAN, PUNE
SULA VINEYARDS –
NASHIK
INDORAMA SYNTHETICS
– NAGPUR
VOLKSWAGEN – PUNE
DEEPAK FERTILIZERS
– TALOJA
THERMAX – PUNE
LUPIN – AURANGABAD
IPCA LABORATORIES –
AURANGABAD
JAIN PLASTIC PARK –
JALGAON
CIPLA – KURKUMBH,
PUNE
|
FOUNDER
GOVERNMENT OF MAHARASHTRA - MEMBER
As on 31.03.2017
|
Name : |
Mr. Sanjay Sethi |
|
Designation : |
Chief Executive officer (CEO) |
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Name : |
Hon. Mr. Shri Rajaram Desai |
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Designation : |
Chairman |
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Name : |
Hon. Mr. Pravin Ramchandra Pole Patil |
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Designation : |
Vice Chairman |
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Name : |
Mr. Sunil Porwal, IAS |
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Designation : |
Member |
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Name : |
Mr. Annasaheb Misal |
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Designation : |
Joint CEO |
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Name : |
Mr. Vikram Kumar |
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Designation : |
Joint CEO(DMIC) |
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Name : |
Mr. Ajay Gulhane |
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Designation : |
Joint CEO (IT) |
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Name : |
Mr. Shivaji Divekar |
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Designation : |
Deputy Chief Executive Officer 1 |
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Name : |
Mr. Vikas Pansare |
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Designation : |
Deputy Chief Executive Officer 2 |
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Name : |
Mr. Ramesh Surwade |
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Designation : |
Deputy Chief Executive Officer 3 |
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Name : |
Mr. P. D. Malikner |
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Designation : |
Deputy Chief Executive Officer 4 |
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Name : |
Mr. R. V. Sonje |
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Designation : |
Chief Engineer Dy. CEO (Environment) |
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Name : |
Mr. Ravindra Sawant |
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Designation : |
Chief Accounts Officer |
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Name : |
Mr. Kamlakar Akode |
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Designation : |
Chief Planner |
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Name : |
Mr. Rajendra Ahiwar |
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Designation : |
General Manager (GM) Public Relations |
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Name : |
Mrs. Smita Anand Chawre |
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Designation : |
GM Legal |
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Name : |
Mr. Gajanan Patil |
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Designation : |
GM Development, GM Marketing, GM DMIC, |
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Name : |
Mr. Sanjay Korabu |
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Designation : |
Technical Advisor |
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Name : |
Mr. Mukesh K. Bhoge |
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Designation : |
GM Land GM Land Acquisition GM HRD |
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Name : |
Mr. S.S.Warick |
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Designation : |
Chief Fire Officer& Fire Advisor |
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Name : |
Mr. Vinod Jadhav |
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Designation : |
GM IT |
BUSINESS DETAILS
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Line of Business : |
It provides businesses with Infrastructure such as Land
(Open Plot or Built-up Spaces), Roads, Water Supply, Drainage Facilities and
Street Lights. (Confirmed by management) |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
Not Available |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(A) Amount Repayable to the State Government |
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0.000 |
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(B) Loans from Public |
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|
0.000 |
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(C) Deposits received from Government for Scheme under taken for and on behalf Government |
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2.573 |
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(D) Deposits for Schemes entrusted by bodies other than Government |
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402.644 |
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(E) Deposits |
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112753.616 |
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15.695 |
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4.555 |
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52901.927 |
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4567.423 |
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(F) Sundry Creditors |
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946.230 |
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(G) Sinking and Assets Replacement Fund |
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0.000 |
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(H) Development Rebate Reserve |
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0.000 |
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(I) Investment Allowance Reserve |
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|
0.000 |
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Surplus upto last year |
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372.825 |
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Less : Deficit upto last year transferred from Asset item 12. |
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0.000 |
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Add : Surplus for the year |
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2.525 |
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TOTAL |
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171970.013 |
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II.
ASSETS |
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(A)
Industrial Areas and Estates |
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43727.589 |
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(B)
Water Supply Schemes-Centralised |
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4525.189 |
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(C)
Residential Buildings |
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16.700 |
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(D) Other
Assets |
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255.416 |
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(E)
Stock in Hand |
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237.592 |
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(F)
Cash |
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80358.054 |
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(G) Investments |
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2021.374 |
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(H)
Remittances |
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|
0.000 |
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(I)
Sinking Fund. |
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0.000 |
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(J)
Advances |
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40828.099 |
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(K) Preliminary
expenses in connection with issue of Loan Bonds |
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0.000 |
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(L)
Deficit |
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0.000 |
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TOTAL |
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171970.013 |
INCOME AND EXPENDITURE
ACCOUNT FOR THE YEAR ENDED
|
PARTICULARS |
|
|
31.03.2012 |
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INCOME |
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Water Supply, Residential Buildings and Service Charges. |
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2862.861 |
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Interest |
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443.150 |
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Miscellaneous |
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128.696 |
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TOTAL |
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3434.707 |
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EXPENDITURE |
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Executive Expenses |
|
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55.415 |
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Water Supply, Residential Buildings and Maintenance and
Repairs to Industrial Area |
|
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3175.615 |
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Maintenance and Repairs (Tools and Plants) |
|
|
0.000 |
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Depreciation |
|
|
130.813 |
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Expenditure in connection with issue of Loans |
|
|
0.000 |
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Interest on Loans |
|
|
67.056 |
|
Miscellaneous Expenditure |
|
|
3.282 |
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Amount transferred to Sinking and Assets replacement fund |
|
|
0.000 |
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Provision for bad and doubtful debts |
|
|
0.000 |
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Amount transferred to Development rebate/Investment
Allowance Rebate Reserves |
|
|
0.000 |
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Surplus |
|
|
2.525 |
|
|
|
|
|
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TOTAL |
|
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3434.706 |
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 |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
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8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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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 |
No |
|
26 |
Turnover of firm for last one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
HISTORY
Established in 1962, under M.I.D. Act 1961 as the premier industrial infrastructure development agency of Government of Maharashtra.
OBJECTIVE
- Set up industrial areas for planned and systematic industrial development.
- To function as a special planning authority in development of industrial areas
- “Prosperity to all through Industrialization” is the corporate Philosophy of MIDC
ACHIEVEMENTS
- Built 289 Industrial Areas with 66273.82 hectares of land. (Approx.)
- Developed specialized parks for different industrial sectors including IT, BT, Special Economic Zones
- (SEZ), Wine (Grape Processing) Park, Silver Zone, Gems
TOWARDS SUSTAINABLE
DEVELOPMENT
MIDC has facilitated 6 CHWTSDF (Common Hazardous Waste Treatment Storage and Disposal facility) sites at:
1. Taloja (Mumbai)
2. Thana Belapur(T.T.C.)
3. Ranjangaon (Pune)
4. Butibori(Nagpur)
5. Mahad (Satellite Transfer Station)
6.
Shendra (Aurangabad)
FOCUS SECTOR
- Auto Mobile
- Chemical
- Defence
- Food and Agriculture
- Gems and Jewellery
- Informanation Technology
- Textiles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.83 |
|
|
1 |
INR 85.28 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KJL |
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.