MIRA
INFORM REPORT
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Report Date : |
16.05.2011 |
IDENTIFICATION DETAILS
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Name : |
JAIN PACKAGING PRIVATE LIMITED |
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Registered Office : |
35-K, Laxmi Industrial Estate, New |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.10.1982 |
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Com. Reg. No.: |
11 – 028565 |
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Capital Investment/
Paid-up Capital: |
Rs.2.500 Millions |
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CIN No.: [Company
Identification No.] |
U25200MH1982PTC028565 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ09153E |
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PAN No.: [Permanent
Account No.] |
AAACJ1039R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Printed and Coated Aluminium Sheets |
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No. of Employees: |
170 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 342000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 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
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Name : |
Mr. Nikhil Jain |
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Designation : |
Director |
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Date : |
13.05.2011 |
LOCATIONS
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Registered Office : |
35-K, Laxmi Industrial Estate, New |
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Tel. No.: |
91-22-26366848 / 50 |
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Fax No.: |
91-22-26364715 |
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E-Mail : |
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Website : |
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Area : |
3000 Sq.ft |
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Location : |
Owned |
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Factory 1: |
Plot No. 26 and 28, Survey No. 144/2, |
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Tel. No.: |
91-260-2645434 |
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Fax No.: |
91-260-2645432 |
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Area : |
30000 Sq.ft |
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Location : |
Owned |
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Factory 2 : |
B-19/20, Dewan and Shah Industrial Complex No. 2, Village – Waliv, Taluka
Vasai, Thane, Maharashtra, India |
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Tel. No.: |
91-250-2480241 |
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Fax No.: |
91-250-2481351 |
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Location : |
Owned |
DIRECTORS
AS ON (27.09.2010)
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Name : |
Mr. Nikhil Prakash Jain |
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Designation : |
Managing Director |
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Address : |
A 402, |
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Date of Birth/Age : |
16.02.1980 |
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Date of Appointment : |
31.10.2003 |
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Name : |
Ms. Nidhi Jain |
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Designation : |
Additional Director |
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Address : |
402, |
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Date of Birth/Age : |
17.07.1980 |
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Date of Appointment : |
01.11.2009 |
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Name : |
Mr. Mahendra Singh Chhoutbhai Solanki |
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Designation : |
Whole Time Director |
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Address : |
House No.6/1, |
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Date of Birth/Age : |
02.03.1962 |
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Date of Appointment : |
15.09.2008 |
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Name : |
Mr. Sulabha Prakash Jain |
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Designation : |
Director |
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Address : |
9 Parag Apartments, |
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Date of Birth/Age : |
14.06.1954 |
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Date of Appointment : |
01.08.1997 |
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Date of Ceasing: |
01.11.2009 |
KEY EXECUTIVES
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Name : |
Mr. Shambhu Kumar |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON (27.09.2010)
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Names of Shareholders |
No. of Shares |
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Nikhil Jain |
7400 |
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Sulabha Jain |
14550 |
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Nipra Industries Private Limited, Amli, Silvassa |
2000 |
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Orbit Packagings Private Limited, Mumbai |
50 |
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Prakash Jain |
1000 |
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Total |
25000 |
Equity Share Breakup (Percentage of Total Equity)
AS ON (27.09.2010)
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Category |
Percentage |
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Bodies corporate |
12.00 |
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Directors or relatives of directors |
88.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Printed and Coated Aluminium Sheets |
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Products : |
ITC CODE |
Product Description |
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7607.1995 |
Printed
Aluminium Sheets |
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7210.3090 |
Printed
M.S. Sheets |
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7607.1994 |
Coated
Aluminium Sheets |
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7607.1991 |
Cut
to Size Aluminium Sheets |
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Exports : |
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Products : |
Aluminium Sheets |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30-60-90days) |
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Purchasing : |
L/C, Cash and Credit (30-60-90days) |
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PRODUCTION STATUS (31.03.2010)
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Particulars |
Unit |
Actual
Production |
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Printed/ Coated Aluminium Sheets |
MT |
2250 |
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M.S. Sheets |
MT |
114 |
GENERAL INFORMATION
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Suppliers : |
·
Brisk Technovision Private Limited ·
Balaji Polycoats ·
·
Corporate Consultants ·
DIC ( ·
DIC Coatings ( ·
Ganesh Watch and Wards ·
Godha and Company ·
Hindatco Industries Limited, Silvasa ·
Industrial Domestic Machines and Components ·
J Fast Octroi Services ·
Jay Ambe Roadlines ·
Jain and Kothari ·
Jayn Security Services ·
Kanan Graphics Private Limited ·
Mayur Corporation |
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Customers : |
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No. of Employees : |
170 (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 : |
Jain and Kothari Chartered Accountant |
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Address : |
43, |
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Pan No.: |
AACFJ6082B |
CAPITAL STRUCTURE
AS ON (31.03.2010)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- Each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- Each |
Rs.2.500 Millions |
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 |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
83.063 |
64.631 |
58.446 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
85.563 |
67.131 |
60.946 |
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LOAN FUNDS |
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1] Secured Loans |
79.919 |
80.374 |
81.391 |
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2] Unsecured Loans |
1.292 |
0.117 |
0.684 |
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TOTAL BORROWING |
81.211 |
80.491 |
82.075 |
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DEFERRED TAX LIABILITIES |
0.592 |
0.624 |
0.741 |
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TOTAL |
167.366 |
148.246 |
143.762 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
51.444 |
49.869 |
55.806 |
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Capital work-in-progress |
0.000 |
3.915 |
0.000 |
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INVESTMENT |
0.500 |
0.050 |
0.050 |
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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 |
27.331
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26.275
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9.167
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Sundry Debtors |
102.775
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63.014
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66.102
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Cash & Bank Balances |
3.347
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1.714
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6.361
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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 |
18.760
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18.776
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18.404
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Total
Current Assets |
152.213
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109.779
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100.034
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
22.224
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9.901
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8.686 |
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Current Liabilities |
12.284
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5.466
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3.442 |
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Provisions |
2.283
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0.000
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0.000 |
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Total
Current Liabilities |
36.791
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15.367
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12.128
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Net Current Assets |
115.422
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94.412
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87.906
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
167.366 |
148.246 |
143.762 |
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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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Sales and Other Income |
444.539 |
275.850 |
286.921 |
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TOTAL (A) |
444.539 |
275.850 |
286.921 |
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Less |
EXPENSES |
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Selling and Distribution Expenses |
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Office Expenses |
412.671 |
260.522 |
274.641 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
412.671 |
260.522 |
274.641 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.868 |
15.328 |
12.280 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.868 |
15.328 |
12.280 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.490 |
6.825 |
3.812 |
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PROFIT BEFORE
TAX (E-F) (G) |
25.378 |
8.503 |
8.468 |
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Less |
TAX (H) |
6.945 |
2.317 |
2.101 |
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PROFIT AFTER TAX
(G-H) (I) |
18.431 |
6.186 |
6.367 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.132 |
0.946 |
2.079 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
10.000 |
5.000 |
7.500 |
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BALANCE CARRIED
TO THE B/S |
10.563 |
2.132 |
0.946 |
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EARNINGS IN
FOREIGN CURRENCY |
NA |
0.160 |
0.022 |
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IMPORTS |
NA |
15.253 |
9.386 |
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Earnings Per
Share (Rs.) |
737.00 |
247.00 |
254.68 |
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Particulars |
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31.03.2011 |
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Sales Turnover |
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650.000 |
Expected Sales (2011-2012) : Rs. 800.000 Millions
The above information has been parted by Mr. Nikhil Jain (Director).
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
4.14 |
2.24 |
2.22 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
12.46 |
5.33 |
5.43 |
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Return on Investment (ROI) (PBT/Networth) |
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0.29 |
0.13 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.38 |
1.43 |
0.20 |
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Current Ratio (Current Asset/Current Liability) |
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4.13 |
7.14 |
8.24 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sundry Creditors |
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Due to MSME |
-- |
-- |
-- |
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Due to Others |
22.224 |
9.901 |
8.686 |
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Total |
22.224 |
9.901 |
8.686 |
TRADE REFERENCES:
·
Hindalco Industries Limited, Silvasa
·
Kanan Graphics Private Limited
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25200MH1982PTC028565 |
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Name of the
company |
JAIN PACKAGING
PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
35-K, Laxmi Industrial Estate, New |
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This form is for |
Modification of
Charge |
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Charge
identification number of the modified |
10099160 |
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Type of charge |
Immovable Property |
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Particular of
charge holder |
The Shamrao Vithal Co-operative Bank Limited, 12 Udyog Nagar, |
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Nature of
instrument creating charge |
No Instrument was
executed. However, the equitable mortgage has been extended over the
immovable property |
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Date of
instrument Creating the charge |
20.01.2010 |
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Amount secured by
the charge |
Rs. 108.175
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
decided, from time to time, by the bank Margin As may be
decided, from time to time, by the bank Extent and
Operation of the charge To secure the due
repayment of the following credit facilities of Rs. 108.175 Millions,
together with interest, costs, charges and expenses thereon granted by the
bank to the following companies. 1) Jain Packaging Private Limited of Rs.
98.100 Millions and 2) Orbit Packaging Private Limited of Rs.
10.075 Millions Others Details of
various credit facilities granted by the Bank are as under: 1) Jain Packing Private Limited of Rs. 98.100
Millions :- 1) CC Facility of Rs. 50.000 Millions 2) L/C facility of Rs.
15.000 Millions. (Interchangeability of total L/C limit of Rs. 15.000
Millions with Cc of Rs. 50.000 Millions
such that total outstanding in CC and L/C limit not to exceed Rs. 65.000 Millions 3) BG ofd
Rs. 1.000 Million 4) TL of Rs. 2.800
Millions, Rs. 8.085 Millions, Rs. 18.015 Millions and Rs. 3.200 Millions and 2) Orbit Packaging Private Limited of Rs.
10.075 Millions :- CC of Rs. 10.000 Millions and BG of Rs. 0.075 Million |
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Short particulars
of the property charged |
N.A land being
Plot No. 27 adm. 4132.42 sq.mtrs.
bearing S. No. 144/1/2, at village Athal, Silvassa, Dadra and Nagarn
Haveli with entire structure standing thereon and the P and M installed/
located therein. N.A land being
Plot No. 28 adm. 3914.09 sq. mtrs. Bearing S. No. 144/1/2, at Village Athal,
Silvassa, Dadra and Nagar Haveli with entire structure standingl thereon and
the P and M installed / located therein Gala Nos. 19 and
20 situate at Ground Floor admeasuring 1350 sq. ft. b.u.a. each in Dewanl and
Shah Industrial Complex No. 2, Situate on Plot No. 1 of S Nos. 74 of Village
Waliv, Taluka Bassein, District Thane. Flat No. 103,
adm. 410 sq.ft. b.u.a. in Ashoka CHS Limited situated at survey No. 118,
Hissa No. 11, Villagle Gokhivare Vasai (East), District Thane. Flat No. 207 on
the 2nd Floor Adm. 500 sq. ft. b.u.a in Ashoka CHS Limited
situated at survey No. 118, Village Gokhivare, Vasai, District Thane |
|
Particulars of
the present modification |
By this
modification, the immovable property/ ies so mortgaged shall now also hold
good to secure the due repayment of credit facilities of Rs. 108.175 Millions
(enhanced form Rs. 105.675 Millions) granted by the bank (i.e. Rs. 98.100
Millions granted to Jain Packaging Private Limited and Rs. 10.075 Millions
granted to Orbit Packaging Private Limited) Therefore the overall charge no
stands at Rs. 108.175 Millions. |
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Name of the company |
JAIN PACKAGING
PRIVATE LIMITED |
|
Presented By |
35-K, Laxmi Industrial Estate, New |
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1) Date and description of instrument creating the change |
Common deed of
hypothecation of movable/assets/debts, for Rs.8.500 Millions, dated
27.03.2002 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Rs.1.000 Millions (Secured by
stock) Cash Credit Rs.7.500 Millions (Secured by Book
debts) ------------------------ Total Rs.8.500
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 |
Hypothecation of
stocks and book debts of the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @15%
p.a. Margin: 30% on
hypo. Of stocks an d40% on hypo. Of Book debts |
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5) Name and Address and description of the person entitled to the charge. |
The Shamrao
Vithal Co-op Bank Limited, Goregaon Branch, S.V.Road, Goregaon (West), Mumbai
– 400 062, |
|
6) Date and brief description of instrument modifying the charge |
Supplementary
common deed of hypothecation of moveable/assets/debts dated on 14.02.2004 |
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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. |
By this
modification the additional cash credit facility o frS.31.500 Million shas
been granted by the Bank to the Borrower. Hence, the cash credit facility has
been enhanced from Rs.8.500 Millions to Rs.40.000 Millions The rate of
interest has also been modified to 12% p.a. Therefore, the
overall charge now stands at Rs.40.000 Millions |
FORM 8
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Corporate
identity number of the company |
U25200MH1982PTC028565 |
|
Name of the
company |
JAIN PACKAGING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
35-K, Laxmi Industrial Estate, New |
|
This form is for |
Modification of
charge |
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Type of charge |
Book debts Movable property
(not being pledge) |
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Particular of
charge holder |
The Shamrao Vithal Co-operative Bank Limited, 12 Udyog Nagar, Email: legaldept@svcbank.com |
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Nature of
instrument creating charge |
Supplementary
Deed of Hypothecation |
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Date of instrument
Creating the charge |
15.12.2010 |
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Amount secured by
the charge |
Rs. 120.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of Interest :
@ PLR-3.00% p.a. subject to minimum @12.50% p.a. or at such lending rate that
RBI/Bank policies may determine to charge from time to time. Margin As may be decided
from time to time by the Bank. Extent and operation of the charge To secure the due
repayment of the following credit facilities of Rs.120.000 millions (enhanced
from Rs.65.000 millions), together with interest, costs, charges and expenses
thereon, granted by the bank to the Company. 1) Cash Credit of
Rs.100.000 millions (enhanced from Rs.50.000 millions) 2) Letter of
Credit of Rs.20.000 millions (enhanced from Rs.15.000 millions) |
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Short particulars
of the property charged (Including location of the property) |
All, present
& future, stocks of raw materials, goods in process of manufacture &
all finished & manufactured goods and articles, etc. with all stores of
the Company. All, present and
future, book debts, outstanding monies, receivables, claims, bills, rights to
or in moveable properties and movable assets of the Company. All, present
& future, tangible moveable assets, furniture, fixtures, civil work,
plant and machinery as per Annexure-I of Plant and Machinery to the said
Agreement. |
|
Date of
instrument modifying the charge |
02.09.2009 |
|
Particulars of
the present modification |
This charge shall
also hold good to secure the due repayment of additional Credit facilities of
Rs.55.000 millions granted to the Company. Hence, the aggregate credit
facilities, secured by charge, have been enhanced from Rs.65.000 millions to
Rs.120.000 millions.[being Cash Credit facility of Rs.100.000 millions
(enhanced from Rs.50.000 millions), Letter of Credit of Rs.20.000 millions
(enhanced from Rs.15.000 millions)].Therefore, the overall charge now stands
at Rs.120.000 millions. |
FIXED ASSETS
- Building
- Land
- Plant and Machinery
- Cycle
- Motor Car
- Furniture and Fixtures
- 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.44.91 |
|
|
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.