MIRA
INFORM REPORT
|
Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DELHI TRANSCO LIMITED |
|
|
|
|
Registered Office : |
Shakti Sadan, Kotla Marg, New Delhi-110002 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
04.07.2001 |
|
|
|
|
Com. Reg. No.: |
55-111529 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U40103DL2001SGC111529 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELD05482B |
|
|
|
|
Legal Form : |
A Public Limited Company, owned by Delhi State Government |
|
|
|
|
Line of Business : |
Transmission of Powers. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is State Government Company with a large Capital base and huge
accumulated losses, as well. It’s payments are slow due to usual burocratic hurdles seen in
Government departments. Trade relations are fair. In any case, the company can be reported as promising business partner
in a medium to long- run. |
LOCATIONS
|
Registered Office/ Head office : |
Shakti Sadan, Kotla Marg, New Delhi-110002, India |
|
Tel. No.: |
91-11-23235380 |
|
Fax No.: |
91-11-23238064 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Rakesh Mehta |
|
Designation : |
Managing Director |
|
Address : |
D-1/200, Satya Marg, Chanakya Puri, New Delhi-110021, India |
|
Date of Birth/Age : |
27.11.1951 |
|
Date of Appointment : |
30.03.2006 |
|
|
|
|
Name : |
Mr. Bajrang Saxena |
|
Designation : |
Director |
|
Address : |
14/5, Tilak Marg, New Delhi-110001, India |
|
Date of Birth/Age : |
29.06.1948 |
|
Date of Appointment : |
03.10.2006 |
|
|
|
|
Name : |
Mr. Valabail Venkteshwara Bhat |
|
Designation : |
Director |
|
Address : |
14/4, Tilak Marg, New Delhi-110001, India |
|
Date of Birth/Age : |
08.04.1953 |
|
Date of Appointment : |
21.06.2005 |
|
|
|
|
Name : |
Mr. Sanjay Nandan Sahai |
|
Designation : |
Director |
|
Address : |
D 2/ 2, Court Lane, Civil Lines, Delhi-110054, India |
|
Date of Birth/Age : |
14.01.1961 |
|
Date of Appointment : |
03.10.2006 |
|
|
|
|
Name : |
Mr. Pawan Singh |
|
Designation : |
Whole-time director |
|
Address : |
191, Mandakini Enclave, Alaknanda, New Delhi-110019, India |
|
Date of Birth/Age : |
19.10.1961 |
|
Date of Appointment : |
02.01.2006 |
|
|
|
|
Name : |
Mr. Raj Kamal Saxena |
|
Designation : |
Whole-time director |
|
Address : |
D-1, MCD Flats, R-Block, Greater Kailash-I, New Delhi-110048, India |
|
Date of Birth/Age : |
04.09.1950 |
|
Date of Appointment : |
21.05.2003 |
|
|
|
|
Name : |
Mr. Subhash Ram Sethi |
|
Designation : |
Whole-time-director |
|
Address : |
D-5/20, Vasant Vihar, New Delhi-110057, India |
|
Date of Birth/Age : |
24.01.1946 |
|
Date of Appointment : |
01.02.2006 |
|
|
|
|
Name : |
Mr. Ram Krishna Narayan |
|
Designation : |
Director |
|
Address : |
Silver Estate, F-29, Sector 50, Noida-201305, Uttar Pradesh, India |
|
Date of Birth/Age : |
29.07.1937 |
|
Date of Appointment : |
09.08.2002 |
|
|
|
|
Name : |
Rajendra Kumar |
|
Designation : |
Managing Director |
|
Address : |
16-1/1, Eac Flats, Rajpur Road, Delhi-110054, India |
|
Date of Birth/Age : |
16.12.1966 |
|
Date of Appointment : |
01.12.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Prafulla Kumar Malik |
|
Designation : |
Secretary |
|
Address : |
YA-9, Sah Vikas CGHS, 68, Patparganj Extension, Delhi-110092, India |
|
Date of Birth/Age : |
21.01.1963 |
|
Date of Appointment : |
31.12.2002 |
|
Tel No. : |
91-11-23235380 |
|
Fax No. : |
91-11-23238064 |
|
E Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 24.11.2005
|
Names of Shareholders |
|
No. of Shares |
|
Arun Goyal |
|
1 |
|
S Ragunathan |
|
1 |
|
P. M Singh |
|
1 |
|
Sandeep Kumar |
|
1 |
|
Delhi Power Company Limited |
|
179999992 |
|
P.O. Kelkar |
|
1 |
|
R Raghuraman |
|
1 |
|
V V Bhat |
|
1 |
|
Shakuntala Gamlin |
|
1 |
|
Total |
|
180000000 |
Equity Share Breakup (Percentage Of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage |
|
Government Companies |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Transmission of Powers. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL
INFORMATION
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
V. K. Issar Chartered Accountant |
|
Address : |
J-288, Ground Floor, Saket, New Delhi-110017, India |
|
|
|
|
Holding Company: |
Delhi Power Company Limited U40103DL2001PLC111528 |
CAPITAL STRUCTURE
As on 28.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
180000000 |
Equity Shares |
Rs. 10/- each |
Rs. 1800.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
180000000 |
Equity Shares |
Rs. 10/- each |
Rs. 1800.000 Millions |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1800.000 |
1800.000 |
1800.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
55.593 |
283.194 |
683.560 |
|
|
4] (Accumulated Losses) |
[36483.240] |
[36852.244] |
[37775.944] |
|
|
NETWORTH |
[34627.647] |
[34769.050] |
[35292.384] |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4211.862 |
3027.636 |
2700.000 |
|
|
2] Unsecured Loans |
38230.958 |
39112.380 |
35432.228 |
|
|
TOTAL BORROWING |
42442.820 |
42140.016 |
38132.228 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7815.173 |
7370.966 |
2839.844 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5662.960 |
5485.015 |
5333.837 |
|
|
Capital work-in-progress |
1461.064 |
1620.288 |
1160.830 |
|
|
|
|
|
|
|
|
INVESTMENT |
146.642 |
379.362 |
385.664 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
88.611
|
149.158 |
132.111 |
|
|
Sundry Debtors |
5623.890
|
5986.619 |
3788.142 |
|
|
Cash & Bank Balances |
12.311
|
321.360 |
2826.690 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1047.130
|
333.496 |
332.332 |
|
Total
Current Assets |
6771.942
|
6790.633 |
7079.275 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
4633.464
|
5967.670 |
10173.396 |
|
|
Provisions |
1593.971
|
939.361 |
951.766 |
|
Total
Current Liabilities |
6227.435
|
6907.031 |
11125.162 |
|
|
Net Current Assets |
544.507
|
[116.398] |
[4045.887] |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
2.699 |
5.400 |
|
|
|
|
|
|
|
|
TOTAL |
7815.173 |
7370.966 |
2839.844 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
55662.103 |
51130.179 |
45696.593 |
|
|
Other Income |
8367.848 |
7971.545 |
911.330 |
|
|
Total Income |
64029.951 |
59101.724 |
46607.923 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
404.545 |
949.001 |
[9548.989] |
|
|
Provision for Taxation |
56.207 |
4.634 |
0.000 |
|
|
Profit/(Loss) After Tax |
348.338 |
944.367 |
[9548.989] |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Purchases made for re-sale |
61314.811 |
56437.212 |
50612.995 |
|
|
Consumption of stores and spares parts |
50.937 |
65.141 |
32.841 |
|
|
Salaries, Wages, Bonus, etc. |
525.770 |
447.363 |
430.641 |
|
|
Payment to Auditors |
0.426 |
0.354 |
0.312 |
|
|
Interest |
519.428 |
208.433 |
3889.732 |
|
|
Insurance Expenses |
0.000 |
0.000 |
0.017 |
|
|
Power & Fuel |
29.933 |
37.094 |
27.039 |
|
|
Depreciation & Amortization |
458.995 |
425.081 |
413.684 |
|
|
Other Expenditure |
725.106 |
532.045 |
749.651 |
|
Total Expenditure |
63625.406 |
58152.723 |
56156.912 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.54
|
1.59 |
[20.49] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.73
|
1.86 |
[20.89] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.25
|
1.94 |
[76.93] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.01]
|
[0.03] |
[0.27] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
[1.41]
|
[1.41] |
[1.39] |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
0.98 |
0.64 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
DELHI TRANSCO LIMITED |
|
Presented By |
Mr. P. K. Malik,
Company Secretary |
|
1) Date and description of instrument creating the change |
Deed of Simple
Mortgage dated Septmeber 8 2005 executed by Delhi Transco Limited (DTL) (DPCL),
Shakti Sadan, Kotla Marg, New Delhi as security for payment under Loan
Agreement |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2700.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Transmission
Systems and All Transmission Assets, present and future, moveable and
immovable in the NCT of Delhi as on the date of transfer and as specified in
the Transfer Scheme. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
|
|
5) Name and Address and description of the person entitled to the charge. |
Delhi Power
Company Limited, Shakti Sadan, Kotla Marg, New Delhi-110002, India A Public Company
incorporated under the Companies Act, 1956 |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U40103DL2001SGC111529 |
|
Name of the
company |
DELHI TRANSCO LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Shakti Sadan, Kotla Marg, New Delhi-110002, India |
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
State Bank of India, Chandni Chowk, Dehi-110006, India |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of
instrument Creating the charge |
28.09.2006 |
|
Amount secured by
the charge |
Rs. 2350.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
Letter attached Terms of
Repayment As per sanction
Letter attached Margin As per sanction
Letter attached Extent and Operation
of the charge As per sanction
Letter attached Others As per santin
Letter attached |
|
Short particulars
of the property charged |
|
AS PER WEBSITE
Business:
Subject is the State Transmission Utility for the National
Capital Territory of Delhi.
Subject is responsible for planning, design, construction
and maintenance of the 400 KV and 220 KV system that are necessary for importing
and transmitting power to the new distribution companies. subject Committed to vanquishing the
electricity problems.
The power system has three components : Generation,
Transmission and Distribution. Power is generated at generating stations, usually
located away from the actual users. The generated voltage is then stepped up to
a higher voltage for transmission, as transmission losses are lower at higher
voltages. The transmitted electric power is then stepped down at grid stations.
The Distribution transformers further step down the voltage
for final distribution to the consumers. This section gives information about
the power system in Delhi and, since the power system in Delhi is
connected to Northern grid and draws substantial power from it, also refers to
the main features of power system of the country as a whole.
PRESS RELEASE
Rajendra Kumar, new CMD of Delhi Transco Limited
New Delhi | Wednesday, Dec 5 2007 IST
Mr Rajendra Kumar today took over as the Chairman and Managing Director
of the Delhi Transco Limited, following the elevation of Mr Rakesh Mehta to the post of Delhi Chief Secretary.
A 1989 batch IAS officer, Mr Rajendra Kumar is at present holding the post
of Secretary (IT) in the Delhi
Government and Special Secretary (Commonwealth Coordination and Public
Grievances) in the Lt Governors Secretariat.
In addition to the above responsibilities and heading Delhi Transco Limited, he
has also been appointed Secretary (Power) in the Delhi Government, CMD Delhi
Power Company Limited, and Chairman of Indraprastha Power
Generation Company Limited and
Pragati Power Corporation Limited.
Born on December 16, 1966, Mr Rajendra Kumar completed his B Tech.
(Electrical) from Indian Institute of Technology (IIT)
Kanpur in 1988. He has completed his Masters degree in Development Management
from Asian Institute of Management, Manila ( Philippines).
He has held very prestigious and challenging postings during
his career and has served Delhi
Government in various capacities. He has been the Director (Education) Delhi,
served Andaman and Nicobar Islands as Secretary cum Commissioner and has also
been the Administrator in Lakshadweep
To Solve Problems of power shortage and garbage disposal
NEW DELHI: It is
an ambitious project aimed at solving Delhi's twin problems of power shortage and garbage disposal.
The proposal to generate electricity from garbage will not only provide the
city an additional 30 MW of electricity but also offer a solution to the
problem of shrinking space for landfills, says the Principal Secretary Power and Chairman-cum-Managing
Director of Delhi Transco
Limited, Rakesh Mehta.
Promoted by DTL, the project
is a joint venture between the Infrastructure Leasing and Financial Services
Limited (IL&FSL) and the Andhra Pradesh Technical Development Corporation.
"Two companies have been set up, the Timarpur-Okhla
Waste Management Company and the Ghazipur Waste Management Company, to collect
waste for the project from South
Delhi, North West Delhi and East Delhi. They will invite bids from private institutions to set up
two power plants for converting
garbage into power," said
Mr. Mehta.
"The two power
plants will consume 3,000 metric tonnes of garbage a day, which is 50 per cent
of what Delhi generates. So the project will offer a solution to Delhi's garbage disposal problems as well," the Transco
CMD said.
However, his claim that the technology will convert urban
waste into power without any
damage to the environment stands refuted by environmentalists.
"The claims being made that the use of technology will
earn carbon credits is incorrect. The technology will lead to emission of
greenhouse gases and therefore becomes ineligible to earn carbon credits as per
the Kyoto Protocol," said Gopal Krishan of the Centre for Social Medicine
and Community Health at JNU and member of the Global Alliance for Incinerator
Alternatives.
"Despite the failure of the same technology in
Timarpur, the process of setting up new
power plants is under way."
He added. "Researchers of waste have pointed out that composting and
recycling are better alternatives and waste incineration encourages a one-way
flow of material on a finite planet, thus making the task of conserving
resources and reducing waste more difficult. Even the Master Plan for Delhi-2021 says it is a polluting
technology."
Dismissing the concerns, Mr. Mehta said: "We have
studied the project in detail
and have also got a clearance certificate from the Ministry of Environment. The
technology will not only allow us to consume less fossils to generate
electricity but will also consume sewage water for running the plants. The
sewage water will be treated before use and then released into the Yamuna. The
technology will only help in conserving the environment".
The process for inviting bids for setting up the power plants will begin soon. "As
per the contract, the plants will have to be set up within 18 months of
inviting bids. Power generation
should start some time in June 2008," Mr. Mehta said.
While the land for setting up the power plants has been identified, the Municipal Corporation of Delhi has agreed to supply garbage
free of charge.
The Delhi
Electricity Regulatory Commission has also fixed a price of Rs. 3.50 per kW per
hour for sale of power generated
from these plants to the power
distribution companies.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.71 |
|
UK Pound |
1 |
Rs.85.11 |
|
Euro |
1 |
Rs.67.73 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|