MIRA INFORM REPORT
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Report Date : |
15.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ROOP POLYMERS LIMITED |
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Registered
Office : |
1st Floor, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.05.1996 |
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Com. Reg. No.: |
55-079003 |
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CIN No.: [Company Identification
No.] |
U18101DL1996PLC079003 |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
Manufacturer and Exporter of Rubber and Plastic for Auto Components |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1100000 |
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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 an established company having fine track. General financial
position of the company is good. Trade relations are fair. Business is
active. Payment are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
1st Floor, |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No.30, IMT, Sector-3, Manesar, Gurgaon-122 002, |
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Tel. No.: |
91-124-4610801/899 |
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Fax No.: |
91-124-4369692 |
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Factory 2/ Head Ofice : |
27 and 28, IDC, Mehravli road, Gurgaon-122 006, |
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Tel. No.: |
91-124-5081970/2362936-37/22622027-28/5084096 |
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Fax No.: |
91-124-2362836/2327403 |
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E-Mail : |
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Area : |
2500 sq. ft. |
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Location : |
Owned |
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Factory 3 : |
68, Roz-Ka- Meo Industrial Area, Sohna, Gurgaon, |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Overseas Offices: |
Located At: ·
·
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DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Anil Jain |
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Designation : |
Managing Director |
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Address : |
L-26/05, DLF Phase - 11, Gurgaon- 122 001, |
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Date of Appointment : |
20.05.1996 |
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DIN No : |
00046879 |
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Name : |
Mr. Hitesh Jain |
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Designation : |
Whole Time Director |
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Address : |
103-L, New Colony, Gurgaon – 122001,
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Date of Appointment : |
20.05.1996 |
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DIN No : |
00046850 |
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Name : |
Mr. Mohit Oswal |
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Designation : |
Director |
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Address : |
103-L, New Colony, Gurgaon – 122001,
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Date of Appointment : |
20.05.1996 |
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DIN No : |
00046674 |
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Name : |
Mr. Prem Kurnar |
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Designation : |
Director |
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Address : |
B-361174, Vikas Nagar, |
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Date of Appointment : |
29.10.2005 |
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DIN No : |
00051349 |
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Name : |
Mr. R. S. Kundi |
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Designation : |
Director |
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Address : |
258-B, Sector - 14, Gurgaon- 1 2200 1, |
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Date of Appointment : |
20.05.1996 |
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DIN No : |
00203082 |
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Name : |
Mr. Rishi Jain |
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Designation : |
Director |
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Address : |
103-L, New Colony, Gurgaon – 122001,
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Date of Appointment : |
04.08.2010 |
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DIN No : |
03160582 |
KEY EXECUTIVES
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Name : |
Ms. Pooja Nirmal |
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Designation : |
Company Secretary |
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Address : |
46D/3, Gopal Nagar, Near City Bus Stand, Gurgaon- I2200 1, |
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Date of Appointment : |
17.07.2010 |
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PAN No : |
AIBPN1385N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Non Corporate Shareholders (Individuals) |
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Anil Jain |
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1472700 |
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Mohit Oswal |
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457100 |
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Hitesh Jain |
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778200 |
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Anju Jain |
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200400 |
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Kanta Jain |
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12000 |
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Meenakshi Jain |
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99500 |
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Sarita Oswal |
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80000 |
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Meenakshi Kilm |
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80000 |
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K. L. Appachu |
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50000 |
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Suneer Jain |
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20000 |
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Ram Prasad Jain |
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11000 |
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Manmohan Fotedar |
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35000 |
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Pradeep Jain |
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3500 |
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Sobhan Lal Jain |
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12500 |
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Premlata Jain |
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4000 |
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Vibhav Kilm |
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5000 |
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Garde |
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20000 |
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Pawan Siegell |
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30000 |
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Sudhir |
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226020 |
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Corporate
Shareholders |
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Roop Rubber Mills Limited, |
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2670100 |
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Roop Automotives Limited, |
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60100 |
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Technico Agencies Private Limited, |
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60000 |
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M. S. Capital and Management Services Limited, |
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75000 |
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Kush Leasing Private Limited, |
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75000 |
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M. S. Leasing Private Limited, |
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50000 |
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Prateek Securities Private Limited, |
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50000 |
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Pass Food Production Private Limited, |
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60000 |
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PCB Constructions Private Limited, |
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50000 |
AS ON 30.09.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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46.00 |
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Directors or relatives of directors |
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46.73 |
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Other top fifty shareholders |
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7.27 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Rubber and Plastic for Auto Components |
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Products : |
Moulded/ Extruded Rubber Parts |
PRODUCTION STATUS (As On : 31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Moulded Rubber Parts |
MT / nos. |
NA |
8250 |
296815104 |
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GENERAL INFORMATION
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No. of Employees : |
1400 (Office-100, Factory-1300) (Approximately) |
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Bankers : |
·
Citi Bank N.A, ·
State Bank of ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India ·
HSBC Bank |
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Facilities : |
Notes : # Working capital facilities from CITI Bank are secured by first pari
passu charge on all Present and Future Receivables, Stocks and Inventories of
the company. ## Working capital facilities from HSBC are secured by first passu
charge on all present and future stocks and receivables ### HDFC Buyers credit are secured by first and exclusive charge over
the fixed assets procured out of the loan financed by HDFC Limited and
exclusive charge on industrial Plot No.827/6/31, Near Railway Road, Gurgaon
and 2nd property No.25, IDC Industrial Area, Gurgaon and personal
guarantee of directors Mr. Mohil Oswal, Mr. Anil Jain, Mr. Hitesh Jain * SBI term loan are secured by first charge on all the entire fixed
assets of the company except assets financed by CITI Bank and HSBC including
equitable Morgaged of factory Land and Building at 68, Roz-ka-Meo, Industrial
Are, Sohan and second charge on the current assets of the company, personnel
guarantee of Directors Mr. Mohil Oswal, Mr. Anil Jain, Mr. Hitesh Jain and
corporate gurantee of Roop Rubber Mills Private Limited and Equitable
mortgaged of 500 sq. yards plot No.27, IDC Mehrauli Road, Gurgaon and Sohna
Plant. ** Working capital facilities from SBI Bank are secured by first pari
passu charge on all the current assets of the company both present and future
and second charge on fixed assets of the company. Personal guarantee of
Directors Mr. Mohit Oswal, Mr. Anil Jain, Mr. Hitesh Jain and corporate
gurantee of Roop Rubber Mills Private Limited and Equitable mortgaged of 500
sq. yards plot No.27, *** City Bank Term loan are secured by first and exclusive charge over
the fixed assets priocured out of term loan financed by Citi Bank Limited and
first and exclusive charge on land and Building situated at Plot No.30, IMT
Manesar, Gurgaon, Haryana, India and
at plot No.19, Sector-9 IIE, Pant Nagar, Uttaranchal, India and Personal guarantee of Directors Mr.
Mohit Oswal, Mr. Anil Jain, Mr. Hitesh Jain **** Secured by vehicle procured out of the loan financed by the
respective bank/company
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Scan Associated Chartered Accountants |
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Address : |
108, Aradhana Bhawan, Azadpur Commercial Cmplex, Delhi-110 0033, |
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Tel. No.: |
91-11-27671631/27672697 |
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Associate / Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
7245000 |
Equity Shares |
Rs. 10/- each |
Rs. 72.450 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
6847120 |
Equity Shares |
Rs. 10/- each |
Rs. 68.471
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
68.471 |
68.471 |
48.471 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
214.480 |
152.816 |
132.976 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
282.951 |
221.287 |
181.447 |
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LOAN FUNDS |
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1] Secured Loans |
178.730 |
222.848 |
234.672 |
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2] Unsecured Loans |
12.026 |
15.767 |
17.103 |
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TOTAL BORROWING |
190.756 |
238.615 |
251.775 |
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DEFERRED TAX LIABILITIES |
0.000 |
2.159 |
2.508 |
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TOTAL |
473.707 |
462.061 |
435.730 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
374.494 |
359.376 |
360.526 |
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Capital work-in-progress |
0.003 |
5.757 |
1.854 |
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INVESTMENT |
14.801 |
14.137 |
10.705 |
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DEFERREX TAX ASSETS |
0.884 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
58.900
|
60.866
|
55.062 |
|
|
Sundry Debtors |
281.531
|
234.291
|
164.102 |
|
|
Cash & Bank Balances |
9.269
|
11.901
|
15.403 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
68.335
|
38.152
|
38.138 |
|
Total
Current Assets |
418.035
|
345.210 |
272.705 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
250.811
|
223.998
|
177.350 |
|
|
Other Current Liabilities |
47.585
|
30.346
|
28.901 |
|
|
Provisions |
36.114
|
8.075
|
3.809 |
|
Total
Current Liabilities |
334.510
|
262.419 |
210.060 |
|
|
Net Current Assets |
83.525
|
82.791
|
62.645 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
473.707 |
462.061 |
435.730 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1161.807 |
827.388 |
713.384 |
|
|
|
Other Income |
1.973 |
6.011 |
5.839 |
|
|
|
Profit on sale of Fixed Assets |
0.108 |
(0.032) |
0.071 |
|
|
|
TOTAL (A) |
1163.888 |
833.367 |
719.294 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
599.591 |
444.924 |
402.300 |
|
|
|
Manufacturing and Other Expenses |
245.521 |
184.766 |
166.555 |
|
|
|
Personnel Expenses |
60.266 |
43.095 |
38.102 |
|
|
|
Administrative Expenses |
34.602 |
28.685 |
24.672 |
|
|
|
Selling and Distribution Expenses |
25.599 |
23.147 |
17.487 |
|
|
|
Fringe Benefit Tax-A/Y 2009-2010 |
0.000 |
0.690 |
0.662 |
|
|
|
Increase/ (Decrease) in finished goods and WIP |
10.605 |
(8.288) |
(12.870) |
|
|
|
Bad Debts Written Off |
3.444 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
979.628 |
717.019 |
636.908 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
184.260 |
116.348 |
82.386 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.800 |
27.075 |
21.485 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
161.460 |
89.273 |
60.901 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
64.156 |
65.450 |
63.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
97.304 |
23.823 |
(2.367) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
35.641 |
3.983 |
(0.360) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
61.663 |
19.840 |
(2.007) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
152.816 |
132.976 |
134.983 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
214.479 |
152.816 |
132.976 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
61.200 |
63.600 |
27.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
09.00 |
3.00 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.30
|
2.38
|
(0.29) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.37
|
2.88
|
(0.33) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.26
|
3.38
|
(0.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.11
|
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.86
|
2.26
|
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.32
|
1.30 |
LOCAL AGENCY FURTHER INFORMATION
Performance of the Company:
During the year the company has earned a
profit after tax of Rs. 61.663 millions as compared to the previous year’s
profit of Rs. 19.840 millions. The Company has recorded an increased of 40.41%
in net sales as compared to the last year.
Operations
The current financial year has remained good
for the Company and Company has earned good profit this year
During the current
financial year the demand has remained robust in domestic market, and the
company has received orders from various suppliers in
Form 8
|
Corporate
identity number of the company |
U18101DL1996PLC079003 |
|
Name of the
company |
ROOP POLYMERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
1st Floor, |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplementary
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
02.12.2010 |
|
Amount secured by
the charge |
Rs. 86.208 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest
at the rate as may be communicated by the Bank from time to time. Terms of
repayment Working
Capital facility shall be payable On Demand Term
Loan facility shall be repayable in suitable installments. Margin As
may be stipulated by the Bank from time to time. Extent and
operation of the charge Hypothecation
by way of First Charge on Company's Stock in Trade, Book Debts, etc, to
secure as a continuing security as mentioned in Column No.15 below for the
repayment of Rs.86.208 millions together with interest, costs, charges,
expenses and other moneys due and payable by the Company to the Bank. |
|
Short particulars
of the property charged (Including location of the property) |
Stock
in Trade, consisting of raw materials, goods in process of manufacturing
finished goods, and other merchandise whatsoever being movable properties All
the debts, that is, all the book debts, out standings, monies receivables,
claims, bills, invoice documents, contracts, guarantees, and rights |
|
Charge
identification number of the charge to be modified |
10174572 |
|
Particulars of
the present modification |
The
Charge shall now stand increased from Rs.79.519 millions to Rs.86.208
millions (Comprising: Overall facility under the MFA/ Addendum of Rs.45.000
millions, FCTL of Rs.33.919 millions, TL of Rs.0.006 million, PSR of Rs.6.689
millions), against the security of Stock in Trade, Book Debts of the Company. |
Fixed Assets:
·
Land
·
Building
·
Furniture and Fixture
·
Moulds
·
Cycle
·
Electrical Fitting
·
Air Conditioner
·
Refrigerator
·
Plant and machinery
·
Fire Fighting Equipments
·
Vehicle
·
Computer
·
Office Equipments
Web Side Details
Profile
Subject has a
valuable experience of more than 30 years of manufacturing and exporting a wide
range of molded and extruded rubber & plastic components. The company
offers a comprehensive portfolio of products that caters to requirements of
automotive and non-automotive sector. At present, 90% of the entire production
is dedicated to automotive sector, whereas the rest 10% of production is done
for non-automotive sector.
Roop Polymers is a flagship of Roop Group of Companies, leading producer of
automobile components from
Over the years,
Roop Polymers has progressed to become one of the most sought after suppliers
catering to automotive giants like Maruti Suzuki, Honda Car, Hero Honda, Bajaj,
Yamaha and other international O.E./Tier 1 suppliers. The company has been
awarded with an ISO/TS 16949 : 2008, ISO 14001:1996 certifications for
implementing Best International Practices throughout the entire business
operations. Today, the company has made a strong presence in competitive
markets of Europe,
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 |
Rs.44.48 |
|
|
1 |
Rs.72.36 |
|
Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.