MIRA
INFORM REPORT
|
Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEV EXPORTS |
|
|
|
|
Registered
Office : |
No.277 – B, Vaiyapuri Nagar, I Cross, Sengunthapuram – 629002, Karur |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Year of
Establishment : |
2007 |
|
|
|
|
IEC No.: |
3209011907 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer of Textile Items Madeups Using Cotton Fabrics. |
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 : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new concern establishing itself gradually. Trade
relations are reported as fair. The networth statement and the valuation report
appears to be satisfactory. Business is active. Payments terms are unknown. 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
No.277 – B, Vaiyapuri Nagar, I Cross, Sengunthapuram – 629002, |
|
Mobile No.: |
91-9443322153 (Mr. R. Sakthivel) |
|
Email : |
|
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. R. Sakhivel |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
39 years |
|
Qualification : |
Higher Secondary |
|
PAN No.: [Permanent Account No.] |
BKTPS8939L |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textile Items Madeups Using Cotton Fabrics. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30-60-90 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-60-90 days) |
GENERAL INFORMATION
|
Suppliers : |
· Cargo Partner Logistics India Private Limited · Durga Traders · TNT India Private Limited · Visnu Textile Printers |
|
|
|
|
Customers : |
End Users and OEM’s · Shri Senthur Textile Mills · Vispaa Yarns |
|
|
|
|
No. of Employees : |
10 |
|
|
|
|
Bankers : |
§
Corporation Bank §
ICICI Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Muthusamy and Associates Chartered Accountant |
CAPITAL STRUCTURE
PROPRIETOR’S
CAPITAL ACCOUNT
(RS.
IN MILLIONS)
|
PARTICULARS |
AS ON 31.03.2010 |
|
|
|
|
R. Sakthivel
Capital account |
0.810 |
|
Add: Net Profit
during the year |
0.194 |
|
Add: Income
received from firm |
0.027 |
|
|
1.031 |
|
Less: Drawings |
0.080 |
|
|
|
|
TOTAL |
0.951 |
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 |
|
|
|
|
|
1] Share Capital |
0.951 |
0.810 |
0.636 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.951 |
0.810 |
0.636 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.002 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.002 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.953 |
0.810 |
0.636 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.054 |
0.014 |
0.014 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.563 |
0.402 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.482
|
0.204 |
0.170 |
|
|
Sundry Debtors |
0.203
|
0.021 |
0.043 |
|
|
Cash & Bank Balances |
0.183
|
0.003 |
0.002 |
|
|
Other Current Assets |
0.053
|
0.005 |
0.005 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.921
|
0.233 |
0.220 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.022
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.022
|
0.000 |
0.000 |
|
|
Net Current Assets |
0.899
|
0.233 |
0.220 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.953 |
0.810 |
0.636 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1.308 |
1.025 |
0.967 |
|
|
|
Other Income |
0.048 |
0.000 |
0.000 |
|
|
|
TOTAL |
1.356 |
1.025 |
0.967 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Good Sold |
0.599 |
0.550 |
0.429 |
|
|
|
Dyeing Charges |
0.154 |
0.000 |
0.000 |
|
|
|
Finishing Charge |
0.174 |
0.000 |
0.000 |
|
|
|
Postage and Courier |
0.022 |
0.010 |
0.007 |
|
|
|
Packing Materials |
0.052 |
0.000 |
0.010 |
|
|
|
Audit Fees |
0.002 |
0.000 |
0.000 |
|
|
|
Other Expenses |
0.159 |
0.372 |
0.462 |
|
|
|
TOTAL |
1.162 |
0.932 |
0.908 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.194 |
0.093 |
0.059 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.194 |
0.093 |
0.059 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
14.31
|
9.07 |
6.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.83
|
9.07 |
6.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.90
|
37.65 |
25.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.11 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.03
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
41.86
|
0.00 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
CHANGE
OF ADDRESS
|
From |
To |
|
6, Ramakrishna Puram North, |
No.277-B, Vaiyapuri Nagar, 1st Cross, Sengunthapuram –
639002, |
CHANGE OF FACTORY
ADDRESS
|
From |
To |
|
6, Ramakrishna Puram North, |
No.277-B, Vaiyapuri Nagar, 1st Cross, Sengunthapuram –
639002, |
PROJECTED
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2012 |
|
|
|
|
(PROJECTED) |
||
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.355 |
1.785 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.355 |
1.785 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1.700 |
1.700 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
1.700 |
1.700 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.055 |
3.485 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.046 |
0.028 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1.500 |
1.750 |
|
|
Sundry Debtors |
|
2.000 |
2.400 |
|
|
Cash & Bank Balances |
|
0.054 |
0.052 |
|
|
Other Current Assets |
|
0.005 |
0.005 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
3.559 |
4.207 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.550 |
0.750 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.550 |
0.750 |
|
|
Net Current Assets |
|
3.009 |
3.457 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.055 |
3.485 |
|
PROJECTED
PROFIT AND LOSS ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2012 |
|
|
|
SALES |
|
(PROJECTED) |
||
|
|
|
Income |
|
8.500 |
9.350 |
|
|
|
Other Income |
|
0.100 |
0.110 |
|
|
|
TOTAL |
|
8.600 |
9.460 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Good Sold |
|
3.882 |
4.419 |
|
|
|
Dyeing Charges |
|
1.010 |
0.961 |
|
|
|
Finishing Charge |
|
1.130 |
1.243 |
|
|
|
Postage and Courier |
|
0.015 |
0.017 |
|
|
|
Packing Materials |
|
0.090 |
0.099 |
|
|
|
Audit Fees |
|
0.010 |
0.011 |
|
|
|
Other Expenses |
|
1.954 |
2.152 |
|
|
|
TOTAL |
|
8.091 |
8.902 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.509 |
0.558 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.009 |
0.008 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.500 |
0.550 |
|
STATEMENT OF
TOTAL INCOME
(RS.
IN MILLIONS)
|
PARTICULARS
|
2010-2011 |
|
|
|
|
|
|
INCOME
FROM BUSINESS |
|
|
|
|
|
|
|
Net Profit as per Profit and Loss Account |
|
0.194 |
|
|
|
|
|
Add:
Inadmissiables |
|
|
|
10% in Telephone expenses |
0.001 |
|
|
10% in Petrol Expenses |
0.000 |
|
|
10% in Shop Expenses |
0.001 |
0.002 |
|
|
|
|
|
|
|
0.196 |
|
|
|
|
|
Less: Adimissiables |
|
|
|
Depreciation as per IT Statement |
|
0.021 |
|
|
|
|
|
Total
Business Income |
|
0.174 |
|
|
|
|
|
Less: Deductions U/s 80C |
|
|
|
LIC Paid |
|
|
|
752523907 |
0.002 |
|
|
754845650 |
0.012 |
0.014 |
|
|
|
|
|
Total
Income |
|
0.159 |
|
|
|
|
|
Total
Income Rounded Off to |
|
0.159 |
|
|
|
|
|
Tax
on the above Income |
|
Nil |
STATEMENT OF ASSETS AND LIABILITIES
NAME
OF THE APPLICANT: MR. R. SAKHIVEL
NAME OF THE
GUARANTOR: MR. V. MUTHUMANI
(RS. IN MILLIONS)
ASSETS
IMMOVABLE PROPERTY
|
Particulars |
Applicant |
Guarantor |
|
Address of the Property with Survey No./Door No. etc |
No.47/E1, Karur
to Vangal |
LNS Village |
|
|
|
|
|
Description |
Land |
Land |
|
|
|
|
|
Whether Freehold/ Leasehold |
Freehold |
Freehold |
|
|
|
|
|
Type of Property Commercial/ Residential/ Agricultural |
Residential |
-- |
|
|
|
|
|
Area/ Extent of Land |
23.50 Cents |
7600 Sq. feet |
|
|
|
|
|
Present Market/ Assessed
Value |
Rs.2.350 Millions |
Rs.13.500 Millions |
INVESTMENT IN
BUSINESS CAPITAL
|
Particulars |
Applicant |
Guarantor |
|
Name of the company/ firm/ concern in Which investment is made |
Dev exports |
Vispa Yarns Vispa Tev Vispa Traders Vispa Exports |
|
|
|
|
|
Date of Investments |
01.04.2009 |
-- |
|
|
|
|
|
Present Value of
Investment |
Rs.0.950 Million |
Rs.2.000 Millions |
DEPOSITS HELD WITH
BANK/ COMPANIES/ OTHER LENDERS ETC.
|
Particulars |
Applicant |
Guarantor |
|
|
|
|
|
Present Value of
Deposits |
-- |
Rs.0.300 Million |
LIFE INSURANCE
POLICIES
|
Particulars |
Applicant |
Guarantor |
|
Policy Numbers |
754845650 |
LIC |
|
|
|
|
|
Date of Policy |
28.03.2008 |
-- |
|
|
|
|
|
Type of Policy |
Endowment |
-- |
|
|
|
|
|
Annual Premium |
0.012 |
-- |
|
|
|
|
|
Sum Assured |
0.200 |
-- |
|
|
|
|
|
Surrender Value |
Rs.0.025 Million |
Rs.0.900 Million |
VEHICLES OWNED
|
Particulars |
Applicant |
Guarantor |
|
|
|
|
|
Model Make |
Suzuki |
-- |
|
|
|
|
|
Date of Purchases |
2002 |
-- |
|
|
|
|
|
Present Market
Value |
Rs.0.020 Million |
-- |
OTHER ASSETS
|
Particulars |
Applicant |
Guarantor |
|
|
|
|
|
Cash in Hand |
0.025 |
-- |
|
|
|
|
|
Jewellery |
0.100 |
0.500 |
|
|
|
|
|
Total Value of
Other Assets |
Rs.0.125 Million |
Rs.0.500 Million |
|
TOTAL ASSETS |
RS.3.470 MILLIONS |
RS.17.200 MILLIONS |
|
NET WORTH |
RS.3.470 MILLIONS |
RS.17.200 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
REPORT
OF VALUATION OF IMMOVABLE PROPERTY
|
Purpose for
which valuation is made |
To access the present
market value and the forced sale value. |
|
|
|
|
Date as on which
valuation is made |
24.11.2010 |
|
|
|
|
Name and address
of the owner (as per document) |
Mr. R.
Sakthivel, S/o. Mr.
Raniasaniy Gounder, No.222, |
|
|
|
|
Location of the
property §
S.F. No. §
Near §
Village and Panchayat §
Taluk and District |
47/E1 Karur to Vangal Manmangalam Karur |
|
|
|
|
Total area of the
land |
23.50 Cents |
|
|
|
|
Boundary Details North South East West |
Krishnamoorthy’s
Land Palanisamy’s
Land. N-S Pathway. |
|
|
|
|
Is the property
situated in residential commercial / mixed |
Dry Land. |
|
|
|
|
Classification of
location high/ middle poor class. |
Middle Class. |
|
|
|
|
Proximity to
civic amenities like schools. hospitals, markets and Offices |
Near by. |
|
|
|
|
Means of
Proximity |
By Means of |
|
|
|
|
Is the property owners
occupied or tenanted |
Owner’s
occupied. (Dry land ) |
|
|
|
|
Land rate
adopted in this valuation |
Rs.1,00,000 /
Cent.(or) 250/ Sq.ft. |
|
|
|
|
Details about
the Land: The above said Dry lands are located near the
Karur to Vangal road, and near the |
|
|
S.R.O. Rate per
cent |
Rs.3036/- |
|
|
|
|
Market Rate/Cent |
Rs.1,00,000/-to
1,10,000/- (or) Rs.250/- to
300/- Sq. ft |
|
|
|
|
Fair market
rate/Cent |
Rs.1,00,000/- |
|
|
|
|
Forced sale
value of the land / Cent |
Rs.70% of F.M.V (70/100) x
1,00,000/- Rs.70,000/- |
AREA CALCULATION:
LAND VALUE:
|
Value Based on |
Area of Land per
cent |
Rate/ Cent Rs. |
Value of Site (Rs. in
Millions) |
|
|
|
|
|
|
Fair Market value |
23.50 |
1,00,000/- |
2.350 |
|
|
|
|
|
|
Guide Line Value |
23.50 |
3,036/- |
0.071 |
|
|
|
|
|
|
Forced sale Value |
23.50 |
70,000/- |
1.645 |
|
a) Value of the
Dry land based on Fair market value |
Rs.2.350
Millions |
|
|
|
|
b) Value of the
Dry land based on Guide line value |
Rs.0.071 Million |
|
|
|
|
c) Value of the
Dry land based on Forced sale value |
Rs.1.645
Millions |
------------------------------------------------------------------------------------------------------------------------------
DETAILS
OF SALES
AND PURCHASE
|
MONTH |
PURCHASES |
SALES |
|
|
|
|
|
April – 2010 |
0.441 |
0.639 |
|
May – 2010 |
0.034 |
0.415 |
|
Jun – 2010 |
0.703 |
0.548 |
|
July – 2010 |
0.197 |
0.444 |
|
August – 2010 |
0.580 |
0.514 |
|
September – 2010 |
0.551 |
0.501 |
|
October – 2010 |
0.505 |
0.807 |
|
|
|
|
|
TOTAL |
3.011 |
3.868 |
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 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.45.13 |
|
|
1 |
Rs.71.05 |
|
Euro |
1 |
Rs.59.10 |
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.