MIRA
INFORM REPORT
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Report Date : |
23.08.2011 |
IDENTIFICATION DETAILS
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Name : |
OMKAR PROPERTIES PRIVATE LIMITED |
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Registered
Office : |
1/6, Municipal Building Dr. E Mos Road, Worli West, Mumbai – 400018,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.01.1998 |
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Com. Reg. No.: |
11-113039 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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CIN No.: [Company Identification
No.] |
U99999MH1998PTC113039 |
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PAN No.: [Permanent Account No.] |
AAACO7353D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Developers of Hotel and Resorts. |
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No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. The valuation report and networth
statement provided seems to be satisfactory. Payment terms are unknown. However, it would be advisable to take adequate securities while
dealing with the subject. |
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
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Nanade |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-40924949 |
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Date : |
20.08.2011 |
LOCATIONS
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Registered Office : |
1/6, Municipal Building Dr. E Mos Road, Worli West, Mumbai – 400018,
Maharashtra, India |
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Tel. No.: |
91-22-40924949 |
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Mobile No.: |
91-9867345881 (Mr. Anand) |
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Fax No.: |
91-22-40924949 |
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E-Mail : |
DIRECTORS
(AS ON 28.09.2010)
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Name : |
Mr. Sunil Dattatraya Rane |
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Designation : |
Director |
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Address : |
Vasudha Apartment, 14th Floor, Opposite B. Worlikar Chowk,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
03.09.1963 |
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Date of Appointment : |
16.01.1998 |
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Name : |
Mr. Pandurang Mahadeo Rane |
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Designation : |
Director |
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Address : |
86/G, Madhav Bhuvan, N. M. Joshi Marg, Lower Parel, Mumbai – 400013,
Maharashtra, India |
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Date of Birth/Age : |
14.05.1941 |
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Date of Appointment : |
16.01.1998 |
KEY EXECUTIVES
|
Name : |
Mr. Nanade |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2010)
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Names of Shareholders |
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No. of Shares |
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Sunil Dattatraya Rane |
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8000 |
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Pandurang Mahadeo Rane |
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2000 |
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Total |
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10000 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Developers of Hotel and Resorts. |
GENERAL INFORMATION
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Suppliers : (As on 31.03.2009) |
· Adarsh Stores · Birla Super Cement · Dhamale Transport · FAB India Overseas Private Limited · Ice Berg Engineering Private Limited · Indulkar Enterprises · Intergral Designs · K A Mathwad · K H Enterprises · Kimaya Transport · K.K Enterprises · Mahalaxmi Paint and Hardware Stores · Mahalakshmi Steels · Mahashakti Traders · Malustate Steel and Pipes · Mangal Murti Krupa Trans · M/S Gauri Constructions (Private) Limited · M/S Mohandas Sons · New Oasis Enterprises · Oceanic Enviro (India) Private LimitedPadmavati Trading Company · Pest Control (India) Private Limited · Radhakrishna Traders · Raipur Alloy and Steel · Saideep Transport · Sharda Ispat Limited · Shree Agrotech · Shree Laxmi Keshav Electricals · Sree Mahakali Furniture Works · Shree Mahalaxmi Traders · Shri Dutt Transport · Shri Krishna Transport · Shri Swami Samarth Contractors · Siddharth Sales Corpn. · SP Ambre · Steel Supply Agency · Sudip Transport · Surajraj Transport · Suyog Transport Pune · Swati Publicity · Udo Mangal Constructions · Usha International Limited · Yashwant Veer · Yogeshwari Udyan |
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No. of Employees : |
45 (Approximately) |
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Bankers : |
· Corporation Bank Malad, Mumbai, Maharashtra, India · The Malad Sahakari Bank Limited 6, Sujata Niketan, 1st Floor, Rani Sati Marg, Malad (East), Mumbai – 400097, Maharashtra, India · IDBI Bank · Bank of Maharashtra · Axis Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. K. Shetty and company Chartered Accountant |
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Address : |
101/102, E- Wing, Chincholi Apartments, Chincholi Bunder Road, Malad
(West), Mumbai – 400064, Maharashtra, India |
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Tel. No.: |
91-22-28752121/ 28758866/ 28771077 |
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Associates/Subsidiaries : |
· Atharva Education Trust 86/4, Madhav Bhuvan, N. M. Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
CAPITAL STRUCTURE
(AS ON 31.03.2011
– Provisional)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
18.528 |
19.782 |
20.123 |
19.993 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.628 |
19.882 |
20.223 |
20.093 |
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LOAN FUNDS |
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1] Secured Loans |
18.896 |
19.959 |
13.617 |
0.000 |
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2] Unsecured Loans |
4.198 |
4.198 |
0.198 |
0.198 |
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TOTAL BORROWING |
23.094 |
24.157 |
13.815 |
0.198 |
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DEFERRED TAX LIABILITIES |
0.114 |
0.116 |
0.000 |
0.000 |
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TOTAL |
41.836 |
44.155 |
34.038 |
20.291 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
46.825 |
46.730 |
35.391 |
12.817 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.374 |
0.849 |
2.732 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.081 |
0.061 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
3.725
|
1.279
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.476
|
3.045
|
0.632 |
0.370 |
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Other Current Assets |
0.850
|
2.044
|
0.075 |
0.097 |
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Loans & Advances |
3.100
|
3.980
|
4.679 |
9.924 |
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Total
Current Assets |
8.151
|
10.348 |
5.386 |
10.391 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
9.892
|
9.366
|
3.345 |
1.367 |
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Other Current Liabilities |
1.107
|
3.004
|
4.221 |
4.219 |
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Provisions |
2.141
|
0.927
|
0.103 |
0.124 |
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Total
Current Liabilities |
13.140
|
13.297
|
7.669 |
5.710 |
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Net Current Assets |
(4.989)
|
(2.949)
|
(2.283) |
4.681 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
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TOTAL |
41.836 |
44.155 |
34.083 |
20.291 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income from Blue Ocean Resort |
14.057 |
7.690 |
0.000 |
0.000 |
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Other Income |
1.842 |
3.431 |
0.470 |
0.469 |
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TOTAL (A) |
15.899 |
11.121 |
0.470 |
0.469 |
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Less |
EXPENSES |
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Administrative and General Expenses |
12.597 |
7.588 |
0.096 |
0.563 |
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TOTAL (B) |
12.597 |
7.588 |
0.096 |
0.563 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)
(C) |
3.302 |
3.533 |
0.374 |
(0.094) |
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Less |
FINANCIAL
EXPENSES (D) |
2.872 |
1.868 |
0.003 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.430 |
1.665 |
0.371 |
(0.094) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.683 |
1.811 |
0.261 |
0.351 |
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PROFIT BEFORE
TAX (E-F) (G) |
(1.253) |
(0.146) |
0.110 |
(0.445) |
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Less |
TAX (H) |
0.000 |
0.195 |
(0.020) |
(0.019) |
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PROFIT AFTER TAX
(G-H) (I) |
(1.253) |
(0.341) |
0.130 |
(0.426) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.782 |
20.123 |
19.993 |
20.419 |
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BALANCE CARRIED
TO THE B/S |
18.529 |
19.782 |
20.123 |
19.993 |
|
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|
Earnings Per
Share (Rs.) |
(34) |
|
13 |
(43) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(7.88) |
(3.07) |
27.66 |
(90.83) |
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|
Net Profit Margin (PBT/Sales) |
(%) |
(8.91)
|
(1.90) |
0.00 |
0.00 |
|
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|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.28)
|
(0.26) |
0.27 |
(1.92) |
|
|
|
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
(0.07)
|
(0.01) |
0.01 |
(0.02) |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.95
|
1.88 |
1.06 |
0.29 |
|
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Current Ratio (Current Asset/Current Liability) |
|
0.62
|
0.78 |
0.70 |
1.82 |
LOCAL AGENCY FURTHER INFORMATION
NET WORTH STATEMENT
MR. SUNIL D. RANE
(RS.
IN MILLIONS)
|
PARTICULARS |
31.03.2010 |
|
ASSETS |
|
|
|
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|
Fixed Assets |
|
|
Residential Flat |
5.543 |
|
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Investments |
|
|
Share Capital with Omkar properties Private Limited |
0.080 |
|
Share Capital with Ashwagandha private Limited |
0.050 |
|
Investment with HSBC |
0.058 |
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Loans and
advances |
|
|
Salary Receivable from AET |
0.210 |
|
Directors Remuneration Receivable |
1.157 |
|
Omkar Properties Private Limited |
3.000 |
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Cash and Bank
balance |
3.194 |
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TOTAL ASSETS (A)
|
13.292 |
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Less: LIABILITIES (B) |
Nil |
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Net Worth (A –
B) |
13.292 |
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PURCHASES SUMMARY MONTH WISE
|
April |
152119.00 |
152119.00 Dr |
|
May |
123862.00 |
275981.00 Dr |
|
June |
156889.00 |
432870.00 Dr |
|
July |
206755.00 |
639625.00 Dr |
|
August |
168777.00 |
808402.00 Dr |
|
September |
71773.00 |
880175.00 Dr |
|
October |
130516.00 |
1010691.00 Dr |
|
November |
520123.00 |
1530814.00 Dr |
|
December |
416786.00 |
1947600.00 Dr |
|
January |
9884.00 |
1957484.00 Dr |
|
February |
2250.00 |
1959734.00 Dr |
|
March |
1020.00 |
1960754.00 Dr |
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|
|
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|
Grand Total |
1960754.00 |
1960754.00 Dr |
SALES SUMMARY MONTH WISE
(RS.
IN MILLIONS)
|
April |
2.097 |
|
May |
2.434 |
|
June |
0.592 |
|
July |
0.681 |
|
August |
0.641 |
|
September |
0.674 |
|
October |
0.655 |
|
November |
1.795 |
|
December |
1.368 |
|
January |
1.146 |
|
February |
1.202 |
|
March |
0.769 |
|
|
|
|
Grand Total |
14.054 |
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VALUATION REPORT OF IMMOVABLE PROPERTY
PART
– I (QUESTIONNAIRE)
GENERAL
INFORMATION
|
Purpose for which valuation is made: |
To assess the Fair Market Value for the purpose of collateral Security / availing Credit Facility from Corporation Bank Malad (W) Branch. |
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Date as on which valuation is made: |
19th
July 2009. |
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Name of the owners/ Owners |
M/S Omkar
Properties Private Limited (Mr. Sunil D.
Rane) |
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If the property is under Joint Ownership/ |
Ownership as per agreement dated 16-10-1998 and 7/12 extract Dated
13-06-2008 |
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Brief Description of the Property |
The said property consists of Non Agricultural.’ Land to be used for Resort
and Spa Presently land is bounded by Rubble Masonry compound wall fencing.
Construction work of villas are in final stage. Installation of Equipments
for Kitchen and Swimming pool is in progress. |
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Location, Street, Ward No. |
At Post Malgund, Dist. Taluka - Ratnagiri |
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Survey/ Plot No. of Land |
Survey No.126, H. No. 11, Village Malgund, Dist. Taluka - Ratnagiri |
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It the property situated in residential/ commercial/ mixed/ industrial
area |
Residential Area located at about Distance of 45 Km. from Ratnagiri,
and 350 Km from Mumbai |
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Classification of locality – High Class/ Middle Class/ Poor Class |
Middle Class |
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Proximity to civic amenities like schools Offices, hospitals, market
cinema etc. |
Available at about 3 to 5 km distance. |
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Means and proximity to surface communication by which the locality is
served |
Autos and S.T Bus Services available |
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LAND |
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Area of land supported by documentary proof. |
As per Agreement
Total land is 4.652 Hectores Out of which 4.419 Hectores is Non Agricultural
i. e 4.4190 m2 and balance 0.233 Hectores is Agricultural land i.e 2330 m2 |
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Roads or lanes on which land is abutting. |
On Ratnagiri —
Jaigad Road |
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Is it Freehold or lease land |
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Does the land fall in area included in town planning
scheme or any development of Govt. of any statutory body? If so give
particulars |
Falls Within
Limits of Malgund Grampanchayat, Taluka Dist. Ratnagiri |
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|
Has any Contribution been made towards development
or is any contribution still outstanding? |
The said land is
near to developed road Ratnagiri- Jaigad Rd with 6’-O high stone masonry
Compound wall all around The plot is partially leveled. Borewels are
completed and construction work of villas swimming pool, Restaurant Reception
Bldg and spa are in final stage. |
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IMPROVEMENT |
|
|
What is FSI
permissible and Percentage actually utilized? |
Not Known |
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RENTS |
|
|
Give Details of water and electricity charges
if any to be borne by the owner |
Borne by Owner |
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If a pump is installed, who has to bear the
cost. |
Cost born by owner |
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Who has to bear the cost of electricity for lighting
of common space like entrance, hall. Stairs, passage, compounds etc. |
Maintained by Owner and Cost Borne by Owner.
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What is the amount of property tax? Who has
to bear it? Give details with documentary proof. |
Borne by Owner. |
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SALES |
|
|
Give instance of
sale of immovable property in the locality on a separate sheet, including the
name and address of the property, registration No. sale price and are land
sold. |
The fair Market value of the said property
is assessed from the market survey and inquiry from Local Estate Agents. Considering the above factors the valuation
of said Resort including land construction and equipments is as follows: A) The valuation of Non Agricultural land 4.4190m2
x 10.764 x 75Rs/sq ft = 3,56,74,587 B) The valuation of Agricultural land
2330m2x 10.764x 50Rs/sqft = 12,54,006 C) The Cost of construction of villas
swimming Pool, Reception and other Structures 34,000sq ft x l200Rs/sq ft =
4,Og,00,000 D) Cost of Interior Furniture and Fixtures =
22,00,000 E) Cost of Borewell and compound wall
fencing = 30,00,000 F) Cost of Wooden structures like Spa,
Restaurant, Deck, Huts etc = 10,50,000 G) High tension electrical line, transformer
and Electrical work = 35,00,000 H) Cost of Air conditioning units =12,00,000 I) Cost of Kitchen equipments= 22,00,000 J) Cost of Roads = 20,00,000 K) Cost of Trees, Plantation and Land
Scaping = 2,60,00,000 Total = Rs.119.879 Millions |
|
|
|
|
COST OF CONSTRUCTION |
|
|
Year of commencement of construction and
year of completion. |
Started in 2006. |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL
RESULTS:
The company has started operations at the Blue Ocean Resort at
Ratnagiri. However the Resort has been operational during the last six months
only and the turnover of the same is amounting to Rs.7.690 Millions. The
company has incurred a Loss of Rs.0.146 on account of Unabsorbed Depreciation.
The directors of the company would like to bring to the
notice that “M/s BLUE OCEAN”
Resort situated at Ratnagiri has started operations partially during the
previous year and is likely to come in full-fledged operation from next
financial year onwards, which will lead to good improvement in Company’s
turnover and overall profitability.
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U99999MH1998PTC113039 |
|
Name of the
company |
Omkar Properties
Private Limited |
|
Address of the
registered office or of the principal place of business in |
86/4, Madhav Bhuvan,
N. M. Joshi Marg, Lower Parel, Mumbai - 400 013,
Maharashtra, India |
|
Type of charge |
Immovable property Any interest in immovable property |
|
Particular of
charge holder |
The Malad
Sahakari Bank Limited 6 , Sujata
Niketan, 1st Floor, Rani Sati
Marg , Malad (East), Mumbai –
400097, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of record
for creation of equitable mortgage |
|
Date of
instrument Creating the charge |
22.12.2008 |
|
Amount secured by
the charge |
Rs.14.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 14% p.a. or at
such other rate/s of interest a may be notified by the bank from time to
time. Terms of
Repayment On Demand Margin As specified by
Bank from time to time. Extent and
Operation of the charge The said property
shall remain and be charged as security
for the repayment of the Loan facility of Rs.14.000 Millions and
interest at agreed rate/s of interest , all costs, charges and expenses in
any way incurred by the Bank. Facility and Limit: Loan Rs.14.000 Millions. |
|
Short particulars
of the property charged |
EM of Co's
immovable properties comprising land and
building, other structures now erected or hereafter to be erected
thereon situate at 1)Survey No.127,Hissa No.28 admeasuring H.R.0-06-0 or
there about, situate lying and being at village Malgund, Tal and Dist:
Ratnagiri within the limits of Ratnagiri Panchayat Samiti 2)Survey
No.127,HissaNo.33 admeasuring H.R.0-26-0 or there about, situate lying and
being at village Malgund,Tal and Dist:
Ratnagiri within the limits of Ratnagiri Panchayat Samiti. |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Air Conditioner
· Computers and Peripheral Systems
· Furniture and Fixtures
· Fax Machine
· Motor Car
· Office Premises
· Land
· Electronic Equipments
· Kitchen Equipments
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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.