MIRA INFORM
REPORT
|
Report Date : |
20.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
VENUS WIRE INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
19, Raghuvanshi Mills Compounds, B Marh, Lower Parel (West),
Mumbai - 400013, |
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Country : |
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Date of Incorporation : |
15.03.1990 |
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Com. Reg. No.: |
11-55812 |
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Capital
Investment/ Paid-up Capital: |
Rs.5.904
millions |
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|
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CIN No.: [Company
Identification No.] |
U31300MH1990PTC055812 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV04136G |
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PAN No.: [Permanent
Account No.] |
AAACV1421F |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer, Exporter and Importer of Stainless Steel
Wire, Bars and Bright wire and Bars. |
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No. of Employees: |
700 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2000000 |
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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 reported as fair.
Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings
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.
INFORMATION PARTED BY
|
Name : |
Mr. Ashok Bacchuka |
|
Designation : |
Accounts Manager |
|
Date : |
19.07.2011 |
LOCATIONS
|
Registered Office : |
19, Raghuvanshi Mills Compounds, B Marh, Lower Parel
(West), Mumbai - 400013, |
|
Tel. No.: |
91-22-24978840/ 30451000 |
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Fax No.: |
91-22-24978846/66459735 |
|
E Fax No. (Mumbai): |
91-22-66459735 |
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E Fax No. ( |
+ 001 208 4391355 |
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E Fax No. ( |
+49 1805 48201 51388 |
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E-Mail : |
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Website : |
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Area : |
16000 Sq.fts |
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Location : |
Owned |
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Factory / Sales Office : |
Atkargaon, Takai -Adoshi, Khopoli-410203, |
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Tel. No.: |
91-2192-304800/ 263404/ 262612 |
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Fax No.: |
91-2192-268873/ 304850 |
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E-Mail : |
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Area : |
7.5 Acres |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Babulal Parasmal Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetna Apartment, Bharat Nagar, Grant Road,
Mumbai-400007, |
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Date of Birth/Age : |
01.01.1951 |
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Qualification : |
B.Com |
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Date of Appointment : |
30.06.1990 |
|
DIN No.: |
01453687 |
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|
|
|
Name : |
Mr. Ghevarchand
Parasmal Bohra |
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Designation : |
Director |
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Address : |
401, Chetna Apartment, Bharat Nagar, Grant Road,
Mumbai-400007, |
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Date of Birth/Age : |
24.12.1954 |
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Qualification : |
B.Com |
|
Date of Appointment : |
30.06.1990 |
|
DIN No.: |
01491771 |
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|
|
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Name : |
Mr. Motilal Parasmal
Bohara |
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Designation : |
Director |
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Address : |
401, Chetna Apartment, Bharat Nagar, Grant Road,
Mumbai-400007, |
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Date of Birth/Age : |
19.10.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
30.06.1990 |
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DIN No.: |
01601492 |
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|
|
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Name : |
Mr. Gheverchand Raghunath Sanghvi |
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Designation : |
Director |
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Address : |
D/1/16, Bharat Nagar, |
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Date of Birth/Age : |
10.08.1964 |
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Qualification : |
B.Com |
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Date of Appointment : |
30.06.1990 |
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DIN No.: |
01597211 |
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|
|
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Name : |
Mr. Hitesh Babulal Bohra |
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Designation : |
Director |
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Qualification : |
B. Com |
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Date of Appointment: |
10.12.2005 |
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DIN No.: |
01596934 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Bacchuka |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
|
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|
Babulal P. Bohra |
10010 |
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Ghevarchand P. Bohra |
8510 |
|
Motilal P. Bohra |
11010 |
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Gheverchand R. Sanghvi |
9210 |
|
Manju Surana |
500 |
|
Moolchand Sanghvi |
1000 |
|
Bacharaj Sanghvi |
1000 |
|
Bhavarlal S Bhora |
1000 |
|
Ramesh B Bafna |
1000 |
|
Hemant G Bohra |
1000 |
|
Reena M Bohra |
1500 |
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Babulal P Bohra and Shantaben B Bohra |
11800 |
|
Hitesh B Bohra |
1500 |
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Total |
59040 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
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|
Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Stainless Steel
Wire, Bars and Bright wire and Bars. |
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Products : |
· Stainless Steel Fine Wire · Coarse Wire · Spring Wire · Welding Wire |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 Days) |
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Purchasing : |
Cash and Credit (30-60-90 Days) |
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Steel Alloy Steel and S.S. Steel Wire |
M/Tons |
12000 |
12000 |
-- |
|
Semi Finished Iron and Steel Products i.e. Steel Bright Bars |
M/Tons |
8000 |
80000 |
-- |
|
S S Wire |
M/Tons |
-- |
-- |
7507 |
|
S S Bright Bars |
M/Tons |
-- |
-- |
2440 |
|
S S Scrap |
M/Tons |
-- |
-- |
504 |
|
Dross |
M/Tons |
-- |
-- |
167 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
700 (approximately) |
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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 : |
M. C. Doshi and Company Chartered Accountants |
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Address 1 : |
307, Vaishali Apartments, 30-31, |
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Address 2: |
30/31, |
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Tel No.: |
91-22-67437416/ 17 |
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Fax No.: |
91-22-23824232 |
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E mail: |
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Enterprises Where Transactions have taken place : |
Address: Raghuvanshi
Mill Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Line of Business: Manufacturer, Exporter and Importer of Stainless Steel Wire and Bars
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- Each |
Rs.50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
59040 |
Equity Shares |
Rs.100/- Each |
Rs.5.904
millions |
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 |
5.904 |
5.904 |
5.904 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
490.483 |
430.354 |
373.488 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
496.387 |
436.258 |
379.392 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
278..081 |
141.381 |
527.413 |
|
|
2] Unsecured Loans |
35.000 |
113.500 |
53.500 |
|
|
TOTAL BORROWING |
313.081 |
254.881 |
580.913 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
809.468 |
691.139 |
960.305 |
|
|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
124.675 |
115.538 |
102.422 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
4.529 |
|
|
Advance Against Capital Expenditure |
2.563 |
0.875 |
5.063 |
|
|
|
|
|
|
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INVESTMENT |
1.492 |
1.491 |
1.491 |
|
|
DEFERREX TAX ASSETS |
5.699 |
5.986 |
5.405 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
268.070
|
111.510 |
501.653 |
|
|
Sundry Debtors |
479.518
|
455.329 |
552.972 |
|
|
Cash & Bank Balances |
27.391
|
39.901 |
36.411 |
|
|
Other Current Assets |
0.838
|
1.129 |
0.752 |
|
|
Loans & Advances |
128.965
|
147.104 |
229.642 |
|
Total
Current Assets |
904.782
|
754.973 |
1321.430 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
200.150 |
166.753 |
451.562 |
|
|
Other Current Liabilities |
24.203
|
15.257 |
22.420 |
|
|
Provisions |
5.390
|
5.714 |
6.053 |
|
Total
Current Liabilities |
229.743
|
187.724 |
480.035 |
|
|
Net Current Assets |
675.039
|
567.249 |
841.395 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
809.468 |
691.139 |
960.305 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
1652.566 |
|
2640.055 (Gross Sales) |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL (A) |
1652.566 |
2316.846 |
NA |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
2159.790 |
NA |
|
|
|
Advertising Expenses |
|
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|
|
|
|
TOTAL (B) |
1520.489 |
2159.790 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
132.077 |
157.056 |
181.745 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.204 |
46.490 |
52.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
115.873 |
110.566 |
129.650 |
|
|
|
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|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.204 |
23.284 |
21.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
93.669 |
87.282 |
108.605 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
33.540 |
30.417 |
40.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
60.129 |
56.865 |
68.590 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
426.854 |
369.988 |
301.398 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
486.983 |
426.854 |
369.988 |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1089.094 |
1759.921 |
2118.164 |
|
|
TOTAL EARNINGS |
1089.094 |
1759.921 |
2118.164 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
54.968 |
96.821 |
333.736 |
|
|
|
Trading Goods |
5.010 |
0.000 |
0.000 |
|
|
|
Components and Spares |
3.238 |
11.634 |
4.861 |
|
|
|
Capital Goods |
18.623 |
1.616 |
0.129 |
|
|
TOTAL IMPORT
VALUE |
81.839 |
110.071 |
338.726 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1018.45 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
2500.000 |
The above information has been parted by Mr. Ashok (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.64
|
2.45 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.10
|
10.03 |
7.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.20 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.09
|
1.01 |
2.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.94
|
4.02 |
2.75 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Dues to Micro, Small and Medium Enterprises |
0.660 |
0.641 |
1.773 |
|
Due to Others |
199.490 |
166.112 |
449.789 |
|
Total |
200.150 |
166.753 |
451.562 |
OPERATIONS:
The company has performed not satisfactorily during the year
consideration due to recession globally in this year also. Total sale fro the
year was Rs. 1720.000 Millions (Export Rs. 1089.100 Millions) as against Rs.
2343.700 Millions (Export Rs. 1759.900 Millions) in the previous year. Though
there is improvement in domestic sale; the export turnover was reduced
considerably due to global recession. They hope the export for next year will
improve since the situation is favourable during the 1st half of
this year. The net Profit after tax is increased to Rs. 60.129 Millions as
compared to previous year’s figure of Rs. 56.865 Millions.
Contingent
Liabilities not provided for in respect of:
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
a Guarantees given by Company's Bankers |
13.980 |
12.589 |
|
b Self Gaurantee given to The Custom Department USA against deposit |
2.577 |
Nil |
|
b Letters of Credit opened |
Nil |
Nil |
|
c Bonds executed in respect of machinery imported under E.P.C.G. Scheme - There is, however, no default to date. |
20.650 |
6.811 |
|
e Income Tax Demand disputed in Appeals (Paid without prejudice to submissins in appeal - Rs. 21.983 Millions
Previous year Rs -23.572 Millions) |
36.751 |
38.251 |
|
f Claims against the company not acknowledged as debts: (i) In respect of: Excise Duty- Demand stayed by the Honorable Custom,
Excise and Service Tax Appellate Tribunal |
6.407 |
6.407 |
|
(ii) In respect of interest and penalty related to disputed Cenvat Credit
claim of Rs 5.377 Millions on purchases from M/s Viraj Ltd reversed and shown
recoverable from Viraj Ltd subject to protest. The company does not expect
any liability in relation to interest and penalty for which proceedings are
initated |
As may be decided |
Nil |
|
(iii) In respect of Service Tax credit taken on payments to foreign
based Commission Agents. The Company has paid Rs. 2.523 Millions on protest
against the above demand which has not been provided and shown under Balances
with the Excise Authorities in Balance Sheet. |
18.948 |
10.994 |
|
(ii) Others |
0.751 |
0.751 |
|
g Estimated amount of contracts remaining to be executed on capital
accounts and not provided for (Net of payments Rs.2.563 Millions- Previous year - Rs. 0.875 Million) |
0.986 |
1.000 |
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80008538 |
|
Corporate
identity number of the company |
U31300MH1990PTC055812 |
|
Name of the
company |
VENUS WIRE
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
19, Raghuvanshi Mills Compounds, B Marh, Lower Parel
(West), Mumbai - 400013, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Dena Bank, Industrial Finance Branch, Email ID: vlaxman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry for Extension of Existing Mortgage. |
|
Date of
instrument Creating the charge |
29.03.2007 |
|
Amount secured by
the charge |
Rs.529.750
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by Bank from time to time. Terms of
Repayment On Demand Margin As may be
stipulated by Bank from time to time. Extent and
Operation of the charge The Company gave
the oral assent to Dena Bank (DB), DB acting for itself and as agent of Bank
of Baroda to continue to the title deeds in respect of Company's immovable
properties consisting of land, buildings, structures, erections, fixed plant
and machinery and other fittings fixtures |
|
Short particulars
of the property charged |
The Company has
created a mortgage by deposit of title deeds relating to Company’s immovable
properties being : i) All the piece
or parcel of Non-Agricultural land bearing gat no. 62. ii) All the piece
or parcel of Non-Agricultural land bearing Gat no. 58; and iii) Property of
premises no. 2, admeasuring about 1830 sq. ft. on 2nd floor situated at
Raghuvanshi Mills Limited |
|
Particulars of the
present modification |
The Mortgage
charge now stands increased from Rs. 409.750 Millions to Rs. 529.750 Millions
|
Fixed Assets:
·
·
Land and Residential
Building at Sanchore
·
Office Premises
·
·
Residential Premises
·
Plant and Machinery
·
Electrical Installations
·
Furniture and Fixture
·
Vehicles
·
Office Equipments
·
Dies and Moulds
·
Air conditioners
·
Computers
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.44.59 |
|
|
1 |
Rs.71.62 |
|
Euro |
1 |
Rs.62.78 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--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.