MIRA
INFORM REPORT
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Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
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Name : |
KAMSONS CHEMICALS PRIVATE LIMITED |
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Registered Office : |
Unit No. 7, Guru Gobind Singh Industrial Estate, Near Jay Coach, Off |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
23.04.1996 |
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Com. Reg. No.: |
11-99064 |
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Capital Investment/
Paid-up Capital: |
Rs.1.000 million |
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CIN No.: [Company
Identification No.] |
U24100MH1996PTC099064 |
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IEC No.: |
0397025033 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK08312D |
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PAN No.: [Permanent
Account No.] |
AAACK3433A |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporter of Industrial Chemicals. |
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No. of Employees: |
Approximately 55 (In office – 15, In factory – 40) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 110000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealing at usual
trade 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
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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. Navin R Mehra |
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Designation : |
Director |
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Contact No.: |
91-9821014448 |
LOCATIONS
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Registered Office : |
Unit No. 7, Guru Gobind Singh Industrial Estate, Near Jay Coach, Off Western
Express Highway, Goregaon (East), Mumbai – 400 063, Maharashtra, India |
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Tel. No.: |
91-22- 2685 4728 / 2685 4808 |
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Fax No.: |
91-22- 2685 4438 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
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Location : |
Owned |
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Factory : |
Plot No. A /726, MIDC, TTC Industrial Area, Village Mahape, Thane-Belapur
Road, Navi Mumbai, District Thane, Maharashtra, India. |
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Tel. No.: |
91-22-27780768 |
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Fax No.: |
91-22-26854438 |
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Area : |
2000 sq Fts. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Navin Raman Mehra |
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Designation : |
Director |
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Address : |
19, |
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Date of Birth/Age : |
02.05.1964 |
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Qualification : |
BSC(TECH) |
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Date of Appointment : |
23.04.1996 |
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DIN No.: |
01266845 |
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Name : |
Mr. Ravin Raman Mehra |
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Designation : |
Director |
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Address : |
19, |
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Date of Birth/Age : |
26.10.1965 |
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Qualification : |
BSC(TECH) |
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Date of Appointment : |
23.04.1996 |
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DIN No.: |
01266741 |
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Name : |
Mr. Ramankumar Lalchand Mehra |
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Designation : |
Director |
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Address : |
19, 20, |
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Date of Birth/Age : |
13.10.1935 |
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Qualification : |
BSC(TECH) |
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Date of Appointment : |
23.04.1996 |
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DIN No.: |
01266770 |
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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Raman Lalchand Mehra |
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51000 |
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Navin Raman Mehra |
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24300 |
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Ravin Raman Mehra |
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18100 |
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Preeti Raman Mehra |
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100 |
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Raman Lalchand Mehra HUF |
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100 |
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Shehzarine R. Mehra |
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100 |
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Kamlesh Mehra |
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4500 |
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Abhay Shah |
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100 |
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Prem P. Popli |
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100 |
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Prem P. Popli HUF |
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100 |
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Renuka P. Popli |
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100 |
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Devki Shah |
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100 |
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Dilip Shah |
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100 |
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Dilip Shah HUF |
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100 |
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Himatlal Shah |
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100 |
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Paresh Shah |
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100 |
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Romit Shah |
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100 |
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Nayna R Thokor |
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100 |
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Tarlika A. Shah |
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100 |
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Labhuben H. Shah |
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100 |
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Kumud M Shah |
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100 |
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Abhay M Shah (HUF) |
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100 |
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Amita S Solanki |
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100 |
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Nila K Solanki |
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100 |
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Sanjeev C Solanki |
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100 |
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Total |
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100000 |
Equity Share
Breakup (Percentage of Total Equity)
As on 30.09.2010
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Category |
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Percentage of
Holding |
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Directors of 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 : |
Manufacturer and Exporter of Industrial Chemicals. |
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Products : |
Kamicryl 400/ Kamicryyl 2950/ Kamicryyl
76/ Kamicryyl 2505/ Kamicryyl EP
Kamicryyl – 295/ Kamicryyl – 61/ Kamicryyl
– 3045
Kamicryyl – 2074/ Kamicryyl – 2089/
Kamicryyl – 2038/ Kamicryyl - OPV |
PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
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Actual
Production |
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Acrylic Polymers Emulsions |
MT/Per Month |
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2928672.00 |
GENERAL INFORMATION
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Suppliers : |
As
on 31.03.2009
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Customers : |
As
on 31.03.2009 Manufacturer
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No. of Employees : |
Approximately 55 (In office – 15, In factory – 40) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
N. D. Mehta and Associates Chartered Accountants |
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Address : |
Balkrishna Chambers, Office No. 18, 2nd Floor, 1/4, |
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Tel. No.: |
91-22-23441661/23441635 |
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Fax No.: |
91-22-23441635 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
27.563 |
22.427 |
18.570 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.563 |
23.427 |
19.570 |
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LOAN FUNDS |
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1] Secured Loans |
8.262 |
11.022 |
9.296 |
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2] Unsecured Loans |
17.893 |
17.871 |
12.581 |
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TOTAL BORROWING |
26.155 |
28.893 |
21.877 |
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DEFERRED TAX LIABILITIES |
0.123 |
0.085 |
0.000 |
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TOTAL |
54.841 |
52.405 |
41.447 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.449 |
4.618 |
5.411 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.375 |
0.375 |
0.200 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
7.465
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5.244
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4.978 |
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Sundry Debtors |
57.321
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36.183
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48.624 |
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Cash & Bank Balances |
33.748
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34.311
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16.612 |
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Other Current Assets |
0.000 |
0.000
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0.000 |
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Loans & Advances |
7.332
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4.127
|
5.071 |
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Total
Current Assets |
105.866
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79.865
|
75.285 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
54.563
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30.529
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36.191 |
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Other Current Liabilities |
0.026
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0.025
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0.000 |
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Provisions |
2.260
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1.900
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3.260 |
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Total
Current Liabilities |
56.849
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32.454
|
39.451 |
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Net Current Assets |
49.017
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47.411
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35.834 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.002 |
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TOTAL |
54.841 |
52.405 |
41.447 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
206.858 |
169.564 |
177.748 |
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Other Income |
1.969 |
1.423 |
1.304 |
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TOTAL (A) |
208.827 |
170.987 |
179.052 |
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Less |
EXPENSES |
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Consumption of Materials |
160.594 |
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Trading Purchase Cost |
6.617 |
5.425 |
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Personnel Cost |
9.925 |
9.529 |
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Manufacturing Expenses |
17.472 |
21.790 |
166.190 |
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Administrative Expenses |
1.130 |
0.587 |
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Selling and Distribution Expenses |
2.671 |
2.895 |
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Loss on |
0.005 |
0.000 |
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Preliminary Expenses written off |
0.001 |
0.002 |
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Prior period income |
[0.125] |
[0.034] |
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TOTAL (B) |
198.290 |
161.587 |
166.190 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.537 |
9.400 |
12.862 |
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Less |
FINANCIAL
EXPENSES (D) |
2.338 |
2.721 |
2.156 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.199 |
6.679 |
10.706 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.763 |
0.922 |
1.020 |
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PROFIT BEFORE
TAX (E-F) (G) |
7.436 |
5.757 |
9.686 |
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Less |
TAX (H) |
2.301 |
1.900 |
3.114 |
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PROFIT AFTER TAX
(G-H) (I) |
5.135 |
3.857 |
6.572 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
22.427 |
18.570 |
NA |
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BALANCE CARRIED
TO THE B/S |
27.562 |
22.427 |
NA |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
US $612779.88 |
US $ 448090 |
US $ 544266.60 |
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TOTAL EARNINGS |
US
$612779.88 |
US
$ 448090 |
US
$ 544266.60 |
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IMPORTS |
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Import Value |
US $ 133652.50 |
US $ 512055 |
136.502 |
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TOTAL IMPORTS |
US
$ 133652.50 |
US
$ 512055 |
136.502 |
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Basic / Diluted
Earnings Per Share (Rs.) |
51.35 |
38.57 |
65.72 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
2.45
|
2.26 |
3.72 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.59
|
3.40 |
5.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.68
|
6.81 |
14.82 |
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Return on Investment (ROI) (PBT/Networth) |
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0.26
|
0.25 |
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.91
|
2.62 |
3.13 |
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Current Ratio (Current Asset/Current Liability) |
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1.86
|
2.46 |
1.51 |
LOCAL AGENCY FURTHER INFORMATION
Review of Operations:
During the year, the company achieved turnover of Rs. 208.826 Millions against Rs. 170.987 Millions in previous year. The Net Profit after Tax to the tune of Rs. 5.136 Millions as against Net Profit to the tune of Rs. 3.858 Millions for the corresponding previous financial year.
CONTINGENT LIABILITIES NOT PROVIDED IN ACCOUNTS: (As on 31.03.2010)
- Outstanding letter of Credit Rs.1.837 millions.
- Property Tax payable to NMMC to the extent of Rs.0.624 million.
- Cess payable to NMMC to the extent of Rs.4.900 millions.
Bankers Charges
Report as per Registry
|
Name of the company |
KAMSONS CHEMICALS PRIVATE LIMITED |
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Presented By |
Abhyudaya Co-operative Bank Limited Administrative Office, |
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1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Goods and Book debts dated 17.03.1997 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000
Millions |
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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 |
All present and
future goods such as Bytyl Acrylate, Styrem, Ethyl Monomex, Emulsivers,
Manomex, Fabre waste of the borrower as well as book debts due to the
borrower. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To secure
overdraft facility granted by the bank to the borrower Rate of interest
19 % p.a. Margin 40 % |
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5) Name and Address and description of the person entitled to the charge. |
Abhyudaya Co-operative Bank Limited Administrative Office, |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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 |
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Corporate
identity number of the company |
U24100MH1996PTC099064 |
|
Name of the
company |
KAMSONS CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No. 7, Guru Gobind Singh Industrial Estate, Near Jay Coach, Off
Western Express Highway, Goregaon (East), Mumbai– 400 063, Maharashtra,
India |
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This form is for |
Creation of
Charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Abhyudaya Co-operative Bank Limited, Administrative Office, K.K. Tower, Abhyudaya Bank Lane, Off G.D. Ambedkar
Marg, |
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Nature of
instrument creating charge |
Agreement for
FBP/FBD/FBN Facility (Agreement for
foreign bill purchase/ discount/ Negotiation) |
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Date of
instrument Creating the charge |
23.05.2011 |
|
Amount secured by
the charge |
Rs. 30.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest:
@ 10% p.a. with monthly rests or at
such other rate as may be decided by the bank form time to time Margin As may be decried
form time to time by the bank. Extent and
Operation of the charge To Secure the due
repayment of the FBP/FBD/FBN facility of Rs. 30.000 Millions, together with
interest, costs, charges and expenses thereon, granted by the bank to the
company. |
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Short particulars
of the property charged |
Documents of
title to goods, including railway receipts, bills of lading, motor transport receipts,
airways bills, composite receipts etc. or other documents and goods
represented thereby. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80028198 |
|
Corporate
identity number of the company |
U24100MH1996PTC099064 |
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Name of the
company |
KAMSONS CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No. 7, Guru Gobind Singh Industrial Estate, Near Jay Coach, Off
Western Express Highway, Goregaon (East), Mumbai– 400 063, Maharashtra,
India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Abhyudaya Co-operative Bank Limited, Administrative Office, K.K. Tower, Abhyudaya Bank Lane, Off G.D.
Ambedkar Marg, |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
stock and book debts Agreement. |
|
Date of
instrument Creating the charge |
31.05.2008 |
|
Amount secured by
the charge |
15.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
11.5% p.a. Margin: As may be
decided, from time to time, by the Bank. Extent and
Operation of the charge: To secure the due repayment of cash credit
facility of Rs.15.000 millions granted by the Bank to the Company. |
|
Short particulars
of the property charged |
All, present and
future, goods/ stock such as Buty/ Acrylate LPO, Ethyl Acelate, Desmodur – W,
2 EHA, Vistant – IPDI Stryrene Monomer, Poly thf – 1000, M.A.A. Acrylyc Acid
NMP TEGO – Airex 902 W Suprasee – 2038, Cresmer NSV9, Galaxy 799, others of
the Company. |
|
Date of latest
modification prior to the present modification |
29.03.2007 |
Fixed Assets
- Land
- Plant and
Machinery
- Air
Conditioner
- Office
Equipment
- Lab Equipment
- Furniture and
Fixture
- Motor Car
(Esteem LX I, Esteem LX II, Ford Ikon)
- Electric
Installation
- Computer
WEBSITE DETAILS:
Subject was incorporated in 1974, is one of the manufacturers of acrylic resins and emulsions in the country. Having the plants in and around Mumbai, they produce a wide array of acrylic polymers to cater to construction, paper, textile, and paint and leather industry. They always strive to set new standards in terms of delivery, service, technical support and customer awareness.
Realizing the emergence of acrylic and polyurethane polymers as the backbone of the above industries, they emphasize on continuous R&D for niche as well as new generation products.
In Addition to being a trend-setter in several fields, they aim to build long-term partnerships with their customers by adding value to their business. Their well equipped laboratory and their team of highly experienced analysts, enables them to handle complex technical problems related to the development of innovative products. They are particularly sensitive to quality and environmental issues, and they actively support the industry-wide "Responsible Care" initiative. Many of their products are formulated to meet the most demanding ecological requirements of today and tomorrow, and they have a continuing mission to guarantee that they follow the best industry practices in all their operations.
Their plant at Navi Mumbai caters to several industries such as Textile, Paint, Speciality Coatings, Paper Leather, Packaging and Construction Chemicals. Their products here range from acrylic resins for adhesives (Paper Industry) and building protection coatings (construction chemicals) to Styrene co-polymer resins (Paint industry).
In 1996, a major breakthrough was achieved by the development of Water Based Acrylic Co-Polymers for use as an Admixture for cementatious systems. They also introduced a range of state of the art products for Paint Applications, which have been well received by the Paint industry.
They have also successfully developed Polyurethane two component solvent based adhesives for Lamination of various substrates such as Polyester BOPP, HDPE, Aluminium foil, Paper used in packaging industry.
Their recent success has been the development of acrylics for eco-friendly water based Over Print Varnishes (OPV), equivalent to emulsions currently being imported into the country. With the introduction of these Emulsions, they hope to establish a satisfactory import substitute.
In tune with the global trend of replacing solvent based polymer systems with eco friendly water-based systems, they, at KCPL are gearing their selves to meet this challenge. Their research & development activities aim at constantly upgrading and improving their products to meet these requirements.
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.44.37 |
|
|
1 |
Rs.70.84 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.