MIRA
INFORM REPORT
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Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
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Name : |
JLC ELECTROMET PRIVATE LIMITED |
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Formerly Known
As : |
JAIPUR LAMP COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 153 A, Road No. 11 – H, Vishwakarma Industrial Area, Jaipur –
302012, Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
31.03.1984 |
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Com. Reg. No.: |
17-002959 |
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CIN No.: [Company Identification
No.] |
U27017RJ1984PTC002959 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JPRJ00029B |
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PAN No.: [Permanent Account No.] |
AACFJ0230B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Ferrous and Non-ferrous Metals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (54) |
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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 1500000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track.
Trade relations are fair. Financial Position is good. Payments are usually
correct and as per commitments. The Company can be considered good for normal business dealings at
usual trade terms and conditions. Nothing adverse reported. |
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. Sunil Jain |
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Designation : |
Accounts Manager |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 153 A, Road No. 11 – H, Vishwakarma Industrial Area, Jaipur –
302 012, |
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Tel. No.: |
91-141-2330375 / 2331215 |
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Fax No.: |
91-141-2330345 |
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E-Mail : |
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Website : |
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Branches : |
Located at: ·
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· Kolkata ·
Mumbai |
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Overseas Office : |
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DIRECTORS
(AS ON 30.09.2010)
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Name : |
Mr. Kamal Singh Baid |
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Designation : |
Director |
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Address : |
D-113, Amba Bari, Jaipur – 302 012, |
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Date of Birth/Age : |
15.08.1947 |
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Date of Appointment : |
31.03.1984 |
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Name : |
Mrs. Ratna Baid |
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Designation : |
Director |
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Address : |
D-113, Amba Bari, Jaipur – 302 012, |
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Date of Birth/Age : |
30.08.1949 |
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Date of Appointment : |
27.09.1988 |
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Name : |
Mr. Naveen Baid |
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Designation : |
Director |
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Address : |
D-113, Amba Bari, Jaipur – 302 012, |
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Date of Birth/Age : |
26.10.1975 |
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Date of Appointment : |
30.09.1998 |
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Name : |
Mr. Sanjay Baid |
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Designation : |
Director |
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Address : |
A-18, Amba Bari, Jaipur – 302012, |
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Date of Appointment : |
24.02.2003 |
KEY EXECUTIVES
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Name : |
Mr. Sunil Jain |
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Designation : |
Accounts Manager |
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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Kamal Singh Baid |
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134300 |
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Ratna Baid |
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32200 |
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Naveen Baid |
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92500 |
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Chitra Baid |
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6000 |
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Chitra Finance Private Limited, West Bengal, India |
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10000 |
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Total |
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275000 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Bodies corporate (not mentioned above) |
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3.64 |
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Directors or relatives of directors |
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96.36 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Ferrous and Non-ferrous Metals. |
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Products : |
·
Nickel Alloys ·
Glass Sealing and Controlled Expansion Alloys ·
Welding Wires ·
Electrical Resistance / Heating Element Alloys ·
Nickel-Chrome-Iron Alloys ·
Dumet Wires ·
Lamp Components and Alloys ·
Nickel-Iron Soft Magnetic Alloys ·
Alloys for Resistors, Shunts and Rheostats ·
Spark Plug Alloys ·
Clad Wires ·
Thermocouple Compensating and Extension Grade
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GENERAL INFORMATION
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No. of Employees : |
About 150 |
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Bankers : |
· Bank of Baroda V. K. Industrial Area, Jaipur - 302 021, ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N C Dhadda and Company Chartered Accountants |
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Address : |
326 Dhadda Market, Johari Bazar, Jaipur – 302 003, |
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Associates : (As on 31.03.2009) |
·
Gem Electro Mechanicals Private Limited ·
Gem Clad Wires Private Limited ·
New Age Alloys Private Limited ·
Spectra Lead Metals Private Limited ·
Lighting Wires Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- Each |
Rs.3.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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275000 |
Equity Shares |
Rs.10/- Each |
Rs.2.750
millions |
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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 |
2.750 |
2.750 |
2.750 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
380.648 |
255.800 |
176.987 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
383.398 |
258.550 |
179.737 |
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LOAN FUNDS |
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1] Secured Loans |
123.081 |
94.771 |
74.808 |
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2] Unsecured Loans |
0.000 |
0.000 |
1.548 |
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TOTAL BORROWING |
123.081 |
94.771 |
76.356 |
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DEFERRED TAX LIABILITIES |
7.617 |
7.166 |
6.557 |
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TOTAL |
514.096 |
360.487 |
262.650 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
92.770 |
79.303 |
65.327 |
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Capital work-in-progress |
0.000 |
0.313 |
7.651 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
212.547
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105.924
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196.600
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Sundry Debtors |
255.500
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151.983
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177.077
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Cash & Bank Balances |
94.449
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159.366
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63.800
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
32.943
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26.162
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25.947
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Total
Current Assets |
595.439
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443.435
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463.424
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
141.344
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107.235
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231.553
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Other Current Liabilities |
13.057
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30.560
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38.512
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Provisions |
19.712
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24.769
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3.687
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Total
Current Liabilities |
174.113
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162.564
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273.752
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Net Current Assets |
421.326
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280.871
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189.672
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
514.096 |
360.487 |
262.650 |
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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 |
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1353.435 |
1339.396 |
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Other Income |
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0.020 |
0.000 |
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TOTAL (A) |
1204.043 |
1353.455 |
1339.396 |
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Less |
EXPENSES |
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Cost of Materials |
NA |
1013.029 |
1120.851 |
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Manufacturing and Other Expenses |
NA |
176.725 |
124.925 |
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TOTAL (B) |
NA |
1189.754 |
1245.776 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
163.701 |
93.620 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
35.557 |
15.752 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
204.933 |
128.144 |
77.868 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.605 |
8.818 |
6.750 |
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PROFIT BEFORE
TAX (E-F) (G) |
195.328 |
119.326 |
71.118 |
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Less |
TAX (H) |
70.480 |
40.513 |
27.674 |
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PROFIT AFTER TAX
(G-H) (I) |
124.848 |
78.813 |
43.444 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
245.441 |
166.628 |
123.184 |
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BALANCE CARRIED
TO THE B/S |
370.289 |
245.441 |
166.628 |
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Export Value |
NA |
900.888 |
910.517 |
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Import Value |
NA |
842.181 |
1130.569 |
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Earnings Per
Share (Rs.) |
454.00 |
287.00 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
10.37
|
5.82
|
3.24
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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8.81
|
5.31
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Return on Total Assets (PBT/Total Assets} |
(%) |
28.38
|
22.82
|
13.45
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Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.46
|
0.40
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Debt Equity Ratio (Total Liability/Networth) |
|
0.78
|
1.02
|
1.95
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Current Ratio (Current Asset/Current Liability) |
|
3.42
|
2.72
|
1.69
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LOCAL AGENCY FURTHER INFORMATION
FORM NO. 8:
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Corporate
identity number of the company |
U27017RJ1984PTC002959 |
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Name of the
company |
JLC ELECTROMET PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No. 153 A, Road No. 11 – H, Vishwakarma Industrial Area, Jaipur –
302 012, |
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This form is for |
Modification of
charge |
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Type of charge |
· Immovable property · Book Debts ·
Movable property (not being pledge) |
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Particular of
charge holder |
Bank of V. K. Industrial Area, Jaipur - 302 021, |
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Nature of
instrument creating charge |
· Supplemental Composite Instrument of Hypothecation of Goods, Book Debts, Movable Machinery and Vehicles. ·
Supplemental Memorandum of Entry LDOC 90 (G) ·
Board Resolution |
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Date of
instrument Creating the charge |
16.03.2011 |
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Amount secured by
the charge |
Rs.611.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
· Rate of Interest Interest @3.75% below BPLR rate i.e. 13.25% p.a. present with monthly rest subject to change from time to time. · Terms of repayment Repayable on demand · Margin 1. Cash Credit:- A) 25% on Stock B) 25% on Book debts 2. 10% Cash margin on Letter of Credit and Bank guarantee 3. 10% on Export Packing Credit · Extent and operation of the charge The charge will operate as first charge to the Extent of Rs.611.000 Millions to Secure overall Loan facilities Extended to the Company by the bank. Includes Following:- ( Rs in Millions) CC(H)- Rs.50.000 Millions Sub limit: FCNR-B- (Rs.30.000 Millions) Sub Limit of CC Limit- (Rs.5.000 Millions) Bp/BD (Doc/Clean) EPC ( EPC Cum FBP/FBD) - Rs.80.000 Millions Sub Limit PSDL(INR/FC)-(Rs.5.000 Millions) Under Gold Card Scheme- Rs.90.000 Millions (20% of Assessed FB and NFB i.e. DALC Limit) Inland/Imp. FLCs (DA/DP Usance upto 120 days)-Rs.390.000 Millions BG-Rs.1.000 Million Total- Rs.611.000
Millions |
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Particulars of
the property charged |
First charge by
way of hypothecation of all stock of raw material, semi finished and finished
goods, stock in process packing material, consumable goods all present and future book debts, all
present and future fixed plant,
machinery and current and fixed assets of the company to secure over
all limit of Rs.611.000 Millions granted to the Company by the Bank Equitable
Mortgage is extended on immovable property of the company comprising factory
land and building constructed or to be constructed, Fixed plant and
machinery, erected or to be
erected both present and future situated at E-153 and E-153(A), E-154
andE-154 (A), B-142, Road No.11-H VKI Area Jaipur, and E-862-863 Road No.14
VKI Area jaipur to secure
overall Limit of Rs.611.000 Millions granted to the Company by the Bank. |
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Particulars of
the present modification |
By this modification the existing working capital limit enhanced to Rs.611.000 millions. CC(H)- Rs.50.000 Millions Sub limit: FCNR-B- (Rs.30.000 Millions) Sub Limit of CC Limit- (Rs.5.000 Millions) Bp/BD (Doc/Clean) EPC ( EPC Cum FBP/FBD) - Rs.80.000 Millions Sub Limit PSDL(INR/FC)-(Rs.5.000 Millions) Under Gold Card Scheme- Rs.90.000 Millions (20% of Assessed FB and NFB i.e. DALC Limit) Inland/Imp. FLCs (DA/DP Usance upto 120 days)-Rs.390.000 Millions BG-Rs.1.000 Million Total- Rs.611.000 Millions Against Current, Fixed Assets and Immovable Property of the Company. |
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Name of the
company |
JLC ELECTROMET PRIVATE LIMITED |
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Presented By |
Director of JLC Electromet Private Limited |
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1) Date and description of instrument creating the change |
13.08.1999 (Required on 21.09.1999) Hypothecation Agreement memorandum of Entry for deposit of title deeds. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 41.000 millions Detailed as : i. Cash Credit (Hypothecation of goods) Rs.3.500 millions ii. Cash Credit (pledge) Rs.4.000 millions iii. Bills Purchase / Discount – Rs.11.500 millions iv. L/C (Inland / Foreign) – Rs.10.000 millions v. Bank Guarantee – Rs.10.000 millions Total – Rs. 41.000
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 |
The whole of the borrower’s stock both present and future, all stock of Raw Material, Work in Process, semi finished goods and finished goods such as aluminum wires, resistance wires, strips, components, packing material and stores etc. whatsoever and wheresoever’s situated and /or in any transit whether now belonging to or that may at any time during the continuance of this security belonging to the borrower. All present and future book debts, outstanding monies, receivables, claims, bills, contracts, engagements etc. All Tangible movable plant and machinery, vehicles etc. of the borrower. Equitable Mortgage is created by deposit of title deeds in respect of land and building belonging to the company at E – 153 (A) and E – 154, (A), Road No. 11 – H, VKIA< Jaipur, Rajasthan, India. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 4% above PLR with minimum of 16% p.a. payable quarterly + interest tax. Exchange / commission as per bank / IRA / Fedai rules. Margin 25% on C/C Hypothecation of goods and pledges 10% on C/C Foreign inland; 15% on bank guarantee. Repayable on demand |
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5) Name and Address and description of the person entitled to the charge. |
Bank
of VKI Area, Jaipur |
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6) Date and brief description of instrument modifying the charge |
24.05.2005 Supplemental composite instrument of hypothecation of goods, book debts, movable Machinaries, vehicles. Credit Facility Agreement Supplemental Memorandum of Entry |
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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. |
The amount of limit enhanced from Rs. 175.100 millions to Rs. 253.500 millions detailed as: (Rs. in million)
Hypothecation on first charge basis entire current assets of the company viz, stock of raw material, stock in process, finished goods, consumable spares and packing material, all book debts present or future, all movable machinery including all stock and spare parts extended as security on first charge basis. Equitable Mortgage created by the company on all its immovable property situated at E – 153, E – 153 (A) , E – 154, E – 154 (A), B – 142, Road No. 11 H and E – 862, 863, Road No. 14, VKI Area, Jaipur extended as security on enhanced limit. Interest to be charged @ 0.5% below BPLR i.e. 10% p.a. with monthly rests in Cash Credit account and 3.5% above BPLR i.e. 11% p.a. with monthly rests in case of term loan account. Margin – Stock 25%, Book Debts 25% and 25% on movable machinery and 10% in LC/FLC. Other terms and conditions remain same. |
FIXED ASSETS
·
· Building
· Plant and Machinery
· Furniture
· Vehicles
WEBSITE DETAILS:
HISTORY:
Company dates back to its foundation 35 years ago. A young and ambitious engineer with a vision to contribute to the industrial and economic map of India started his venture to manufacture Lead-in-wires for electric lamps. This was the beginning of a long journey; since then company has continuously added various alloys to its product portfolio and has developed a strong relationship with its customers ranging from small companies to multi-national OEMs. Foresight, diligence and innovation have helped company become the leading manufacturer of Nickel and Nickel based alloys in wire, strips and ribbon forms.
1973 - Lead-in Wires - starting with one machine
1977 - Nickel Plated Wires
1978 - Nickel Alloys
1982 - Ni/NiMn/NiCu30Fe wires
1990 - Dumet Plant 1995 - Expansion of LIW Capacity (150 machines)
1996 - Nickel-Chrome Alloys
1998 - Spark plug alloys
1999 - Attained IS0 9001:2000 certification on 5th November
1999 - Thermocouple alloys
2002 - Expansion of melting facility
2004 - Expansion in strip manufacturing capacity
2005 - Expansion of UW Capacity (300+ machines).
2006 - Wire drawing capacity increased
2007 - Acquired machines of Osram Sylvania, USA
2007 - Dumet capacity increased
2008 - Development of Nickel plated Dumet
2008 - Export volumes become 75%
of the turnover
COMPANY PROFILE
Subject an ISO 9001:2008 company, is a manufacturer
of Nickel and Nickel based specialty alloys in wire, strip and ribbon forms.
Headquartered in Jaipur, India, Company boasts of a state-of-the-art
manufacturing facility producing a wide range of World Class products, at
competitive prices to cater to the diverse and continuously changing needs of
its customers. Company has sales in more than 40 countries across the world and
aims at continuously expanding its bandwidth by adding new regions and
customers.
Company has invested heavily in
product development and process innovation to create its leading position in
the niche-field of Nickel based alloys.
Company manufacturing unit possesses a fully integrated production
infrastructure starting from melting of virgin raw materials to final packaging
stage; lead by a highly qualified team of engineers, supervisors and operators.
With its vision to become the ‘Best in Class’, the quality control and R&D
team at Company ensures that products and processes meet the best standards of
the industry. Company supports all its clients with an efficient logistic
process to ensure in-time delivery of their ordered products and services.
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.73.42 |
|
Euro |
1 |
Rs.66.04 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.