BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
CONTINENTAL AUTOMOTIVE COMPONENTS PRIVATE LIMITED |
Principal Name 1 |
Mr. Markus fdistelhoff |
|
Status |
Moderate |
Principal name 2 |
Mr. Claude d gama Rose |
|
|
|
Registration # |
08-043146 |
|
Street Address |
Plot no. 53b, bommasandra industrial area, attibele hobli,
anekal taluk, bangalore-560099, karnataka, india |
||
|
Established Date |
15.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-80-66115100 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-66115115 |
Business Style 2 |
-- |
|
Homepage |
Product name 1 |
Speedometers |
|
|
# of employees |
- |
Product Name 2 |
Pressure gauge |
|
Paid up capital |
Rs.2,830,100,000 |
Product Name 3 |
Cables |
|
Shareholders |
Foreign Bodies 100% |
Banking |
- |
|
Public Limited Corp. |
No |
Business period |
04 years |
|
IPO |
No |
International ins. |
- |
|
Public |
No |
Rating |
B (29) |
|
Related
company |
|||
|
Relation
Associates |
Country
Germany |
Company
Name |
Continental Trading Gmb11, Germany |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
993,944,000 |
Current Liabilities |
1,872,710,000 |
|
Inventories |
398,645,000 |
Long-term Liabilities |
670,600,000 |
|
Fixed Assets |
2,197,523,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
2,543,310,000 |
|
Invest & other Assets |
659,619,000 |
Retained Earnings |
-- |
|
|
|
Net Worth |
1,706,421,000 |
|
Total Assets |
4,249,731,000 |
Total Liab. & Equity |
4,249,731,000 |
|
Total Assets (Previous Year) |
3,589,503,000 |
|
|
|
P/L Statement as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
4,091,350,000 |
Net Profit |
(601,380,000) |
|
Sales(Previous yr) |
2397,128,000 |
Net Profit(Prev.yr) |
(478,743,000) |
MIRA
INFORM REPORT
|
Report Date : |
19.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
CONTINENTAL AUTOMOTIVE COMPONENTS PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
SIEMENS VDO AUTOMOTIVE COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. 53B, Bommasandra Industrial Area, Attibele Hobli, Anekal Taluk,
Bangalore-560099, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
15.06.2007 |
|
|
|
|
Com. Reg. No.: |
08-043146 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.2830.100 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29200KA2007PTC043146 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Automotive Components. |
|
|
|
|
No. of Employees : |
Not divulged by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. Trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot No. 53B, Bommasandra Industrial Area, Attibele Hobli, Anekal
Taluk, Bangalore-560099, Karnataka, India |
|
Tel. No.: |
91-80-66115100 |
|
Fax No.: |
91-80-66115115 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 28.06.2010
|
Name : |
Mr. Friedrichwilhelm Distelhoff |
|
Designation : |
Director |
|
Address : |
No.161, Frns City, Outer Ring Road, Marath Hall, Bangalore – 560037,
Karnataka, India |
|
Date of Birth/Age : |
28.12.1965 |
|
Date of Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mr. Claude D Gama Rose |
|
Designation : |
Director |
|
Address : |
Flat No. 111, The Embassy No. 15, Ali Askar Road, Bangalore-560052,
Karnataka, India |
|
Date of Birth/Age : |
29.10.1956 |
|
Qualification : |
B.Com, ICWA |
|
Date of Appointment : |
15.06.2007 |
|
|
|
|
Name : |
Mr. Jay Kelly Kunkel |
|
Designation : |
Director |
|
Address : |
Lanson Place, Jinlin Tiandi Residence Unit 3202 No.3, Lane 168, Xing Ye Road, Luwan District, Shanghai,
China - 200020 |
|
Date of Birth/Age : |
18.11.1959 |
|
Date of Appointment : |
02.11.2009 |
|
|
|
|
Name : |
Mr. Achim Michael Braun |
|
Designation : |
Director |
|
Address : |
2-98, Forest Manor, 588 Jin Feng Road, Shanghai – 201107, China |
|
Date of Birth/Age : |
20.02.1969 |
|
Date of Appointment : |
20.05.2010 |
|
|
|
|
Name : |
Mr. Carsten Pfuhl |
|
Designation : |
Director |
|
Address : |
Room No.705 Building No.6, Lane 1068, Xinza Road, China - 200041 |
|
Date of Birth/Age : |
27.02.1976 |
|
Date of Appointment : |
29.03.2010 |
|
|
|
|
Name : |
Mr. Peter Maria Verbruggen |
|
Designation : |
Director |
|
Address : |
Kuilenstraat 51 Genk 003600 |
|
Date of Birth/Age : |
22.04.1960 |
|
Date of Appointment : |
02.11.2009 |
|
Date of Ceasing: |
31.12.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Srinvasaiah Govindappa |
|
Designation : |
Secretary |
|
Address : |
No. 12, Subbaiah Lane, Murugeshpalya Hal Road, Bangalore-560017,
Karnataka, India |
|
Date of Birth/Age : |
08.12.1965 |
|
Date of Appointment : |
24.01.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Continental Automotive GMBH, Germany |
|
283009999 |
|
Cas One Holding Gessellschaft, Germany |
|
1 |
|
Total |
|
283010000 |
AS ON 28.06.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.12.2009
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Instrumentation
products |
|
Nos |
2,383,560 |
1,276,315 |
|
Sensors
and actuators |
|
Nos |
2,983,230 |
576,086 |
|
Fuel
supply products |
|
Nos |
1,357,860 |
1,240,225 |
|
Speed
sensors |
|
Nos |
1,248,210 |
102,237 |
|
Vehicle
body and security products |
|
Nos |
1,080,000 |
164 |
|
Power
steering products |
|
Nos |
- |
- |
|
Others |
|
Nos |
1,422,574 |
643,122 |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR And Company Chartered Accountant |
|
Address : |
Maruthi Info-Tech Centre, 11-12/1, |
|
Tel. No.: |
91-80-39806000 |
|
Fax No.: |
91-80-39806999 |
|
|
|
|
Ultimate Holding Company: |
Continental AG, |
|
|
|
|
Holding Company : |
Continental Automotive GmbH,
Germany |
|
|
|
|
Associates/Subsidiaries : |
·
ContiTech Luftfeder systeme GmbH, Germany ·
Continental Teves AG and Co. OHG, Germany ·
Continental Teves Ice, USA ·
Continental Teves Hungaria Kft., Hungary ·
Continental Teves Corporation Japan K.K., Japan ·
Continental Automotive Japan K.K., Japan ·
Continental Automotive Systems Management Co.
Limited, China ·
Continental Engineering Services GmbH, Germany ·
Continental Automotive Systems Shanghai Co.
Limited, China ·
Continental Automotive Systems Inc., USA ·
Continental Automotive GmbH, Germany ·
Continental Mechanical Components GmbH, Germany ·
Continental Pty. Limited, Australia ·
Continental Automotive Belgium N.V., Belgium ·
Continental Brasil Industria Automotive L., Brazil ·
Continental Automotive Switzerland AG, Switzerland ·
Continental Automotive Asia Pacific Co. Limited
Shanghai, China ·
Siemens VDO Automotive Shanghai Co. Limited, China ·
Continental Automotive Changchun Co. Limited, China ·
Continental Automotive Wuhu Co. Limited, China ·
Continental Automotive Systems Czech Republic
S.R.O., Czech Republ ·
Continental Automotive Czech Republic s.r.o. ·
Continental Automotive Spain S.A., Spain ·
Continental Automotive Rambouillet France SAS,
France ·
Continental Automotive France SAS, France ·
Continental Automotive UK Limited, UK ·
Continental Automotive Trading Italia s.r.l., Italy ·
Continental Automotive Electronics Limited, South
Korea ·
Continental Automotive Systems Corporation, South
Korea ·
Continental Automotive Guadalajara Mexico S.A.de
C.V., Mexico ·
Continental Automotive Instruments Malaysia
SDN.BHD, Malaysia ·
Continental Automotive Romania Sri, Romania ·
Continental Automotive Singapore Private Limited,
Singapore ·
Continental Automotive (Thailand) Co. Limited,
Thailand ·
Continental .Automotive Systems US Inc., USA ·
Continental Automotive Venture International GmbH,
Germany ·
Barum Continental Spol s.r.o., Czech Republic ·
Continental Automotive Products SRL, Romania ·
Continental France SNC, France ·
Continental Mabor Industia de Pneus, S.A., Portugal ·
Continental Tire North America, Inc., ·
Continental Aktiengesellschaft., Germany ·
Continental Reifen Deutschland GmbH., Germany ·
CAG, Vertrieb Deutschland, Germany ·
Continental Sime Tyre AS Sdn. Bhd., Alor Setar,
Malaysia ·
Continental Sime Tyre AS SDN BHD, Malaysia · Continental Sime Tyre Marketing SDN BHD, Malaysia |
CAPITAL STRUCTURE
As on 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
283010000 |
Equity Shares |
Rs.10/- each |
Rs.2830.100 Millions |
|
|
|
|
|
(Of the above, 283,009,999 (previous year:
183,009,999) equity shares of Rs 10 each,
fully paid up, are held by Continental Automotive GmbH, Germany, the
holding company. Continental AG, Germany is the ultimate holding company.)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2830.100 |
1830.100 |
1830.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1123.679) |
(522.299) |
(43.556) |
|
|
NETWORTH |
1706.421 |
1307.801 |
1786.544 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
670.600 |
1345.847 |
0.000 |
|
|
TOTAL BORROWING |
670.600 |
1345.847 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2377.021 |
2653.648 |
1786.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2197.523 |
2271.882 |
1589.007 |
|
|
Capital work-in-progress |
659.619 |
111.504 |
140.193 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
62.408 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
398.645
|
514.743 |
206.766 |
|
|
Sundry Debtors |
655.396
|
466.636 |
195.387 |
|
|
Cash & Bank Balances |
25.863
|
3.887 |
11.846 |
|
|
Other Current Assets |
6.063
|
22.714 |
0.000 |
|
|
Loans & Advances |
306.622
|
198.137 |
88.661 |
|
Total
Current Assets |
1392.589
|
1206.117 |
502.660 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1627.603
|
905.012 |
340.073 |
|
|
Other Current Liabilities |
203.854
|
|
|
|
|
Provisions |
41.253
|
30.843 |
167.649 |
|
Total
Current Liabilities |
1872.710
|
935.855 |
507.722 |
|
|
Net Current Assets |
(480.121)
|
270.262 |
(5.064) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2377.021 |
2653.648 |
1786.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
4091.350 |
2397.128 |
113.530 |
|
|
|
Total Income |
4091.350 |
2397.128 |
113.530 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(599.270) |
(468.311) |
(50.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.110 |
10.432 |
(6.450) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(601.380) |
(478.743) |
(43.550) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(522.300) |
(43.550) |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1123.680) |
(522.300) |
(43.560) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
108.566 |
99.273 |
8.471 |
|
|
|
Service revenue |
443.766 |
283.838 |
11.601 |
|
|
TOTAL EARNINGS |
552.332 |
383.111 |
20.072 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
22.926 |
17.199 |
1.292 |
|
|
|
Component and Spar Parts |
844.750 |
547.437 |
41.208 |
|
|
|
Capital Goods including technical know how |
720.084 |
351.970 |
8.455 |
|
|
TOTAL IMPORTS |
1587.760 |
916.606 |
50.955 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
(14.70)
|
(19.97) |
(38.24) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(16.70)
|
(13.46) |
(2.39) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.35)
|
(0.36) |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.49
|
1.74 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74
|
1.29 |
0.99 |
LOCAL AGENCY FURTHER INFORMATION
Note :The registered
office address was changed from No. 140,
Background
Continental
Automotive Components (India) Private Limited ('the Company') was incorporated
on 15 June 2007 as a private limited company under the provisions of the
Companies Act, 1956, ('the Act1) with its registered office in Bangalore,
India. The Company is in the business of manufacturing and trading of
instrumentation products, sensors and other allied components for the
automobile industry. The Company is a subsidiary of Continental Automotive
GmbH, Germany and the ultimate holding company is Continental AG, Germany.
Fixed Assets:
v
v Plant And
Machinery
v Tools, Jigs and
Moulds
v Computers
v Furniture and
Fixtures
v Office Equipment
v Vehicles
v Goodwill
v Technical Kno-how
v Lease Benefit
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.45.08 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
29 |
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.