MIRA
INFORM REPORT
|
Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
DHARMA PRODUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
23-24, Jains Arcade, 2nd Floor, |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
14.04.1976 |
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|
Com. Reg. No.: |
018964 |
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Capital
Investment / Paid-up Capital : |
Rs.3.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92100MH1976PTC018964 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10023G |
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|
|
PAN No.: [Permanent Account No.] |
AAACQ3889K |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Development and Productions of Feature Films. |
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|
No. of Employees : |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 683284 |
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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 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
|
Name : |
Mr. Kalpesh |
|
Designation : |
Accounts Executive |
|
Date : |
05.11.2011 |
LOCATIONS
|
Registered Office : |
23-24, Jains Arcade, 2nd Floor, |
|
E-Mail : |
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|
Website : |
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|
Area : |
3500sq.fts |
|
Location : |
Owned |
|
|
|
|
Head Office : |
29, Jains Arcade, 2nd Floor, |
|
Tel. No.: |
91-22-26000349/26000871 |
|
Fax No.: |
91-22-26055133 |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Karan Y Johar |
|
Designation : |
Director |
|
Address : |
52, Eden Roc 24 and 25, Union Park, Pali Hill, Bandra (W), Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1972 |
|
Date of Appointment : |
15.02.1991 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U92120MH1971PTC015085 |
YASHWAN PRODUCTIONS
PRIVATE LIMITED |
Director |
15/02/1991 |
15/02/1991 |
- |
Active |
NO |
|
2 |
U92100MH1976PTC018964 |
DHARMA PRODUCTIONS PRIVATE
LIMITED |
Director |
15/02/1991 |
15/02/1991 |
- |
Active |
NO |
|
3 |
L29299MH1987PLC045446 |
Reliance MediaWorks
Limited |
Director |
29/07/2006 |
07/10/2005 |
26/10/2007 |
Active |
NO |
|
4 |
U18101DL2010PTC202829 |
KJVB DESIGN PRIVATE
LIMITED |
Director |
18/05/2010 |
18/05/2010 |
- |
Active |
NO |
|
Name : |
Mr. Hiroo Y Johar |
|
Designation : |
Director |
|
Address : |
Eden Rock, 24 and 26, Flat No 502, Union Park, Pali Hill,
Bandra (W), Mumbai
-400050, Maharashtra, India |
|
Date of Birth/Age : |
18.03.1943 |
|
Date of Appointment : |
14.04.1976 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U92120MH1971PTC015085 |
YASHWAN PRODUCTIONS
PRIVATE LIMITED |
Director |
08/07/1971 |
08/07/1971 |
- |
Active |
NO |
|
2 |
U92100MH1976PTC018964 |
DHARMA PRODUCTIONS PRIVATE
LIMITED |
Director |
14/04/1976 |
14/04/1976 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Hiroo Y Johar |
|
34424 |
|
Karan Y Johar |
|
1555 |
|
Yashwan Exports Private Limited, Mumbai |
|
20 |
|
Khan Mir Taj Mohammed Shah Rukh, Mumbai |
|
1 |
|
Total |
|
36000 |
AS ON 29.09.2010
|
Category |
Percentage |
|
Bodies corporate |
0.06 |
|
Directors or relatives of Directors |
99.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Development and Productions of Feature Films. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
·
Industrial Development Bank of India Limited,
IDBI Tower WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India ·
Yes Bank, 9th Floor, Nehru Centre, Discovery
of India, Dr. Annie Besant Road, Worli, Mumbai, India |
||||||||||||||||||||||||
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Facilities : |
Cash Credit – Rs165.000 Millions
1. Loans referred to above are secured by hypothecation of negatives and a first charge on all revenues receivables of the specific project in respect of which the loan has been availed and further Personally Guaranteed by one of the director. 2. Loan from SCB is secured against immovable Property Owned by one of the director. 3.
Term Loans repayable within one year amounting
to Rs.92.544 Millions
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
Address : |
714-715, Tulsian Chambers, 212, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-30218500 |
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Fax No.: |
91-22-30218595 |
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|
|
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Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
36000 |
Equity Shares |
Rs.100/-
each |
Rs.3.600
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
785.000 |
The above information has been parted by Mr. Kalpesh (Accountant)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.600 |
3.600 |
3.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
167.221 |
158.529 |
128.178 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
170.821 |
162.129 |
131.778 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
294.417 |
492.060 |
75.943 |
|
|
2] Unsecured Loans |
31.000 |
139.500 |
92.000 |
|
|
TOTAL BORROWING |
325.417 |
631.560 |
167.943 |
|
|
DEFERRED TAX LIABILITIES |
0.352 |
0.726 |
0.557 |
|
|
|
|
|
|
|
|
TOTAL |
496.590 |
794.415 |
300.278 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
30.340 |
29.460 |
8.137 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
13.191 |
|
|
|
|
|
|
|
|
INVESTMENT |
22.325 |
22.325 |
37.557 |
|
|
Cost of Production (Movies) |
574.778 |
896.862 |
208.218 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
20.223
|
0.616
|
0.613 |
|
|
Cash & Bank Balances |
66.778
|
31.135
|
25.589 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
175.522
|
133.095
|
39.824 |
|
Total
Current Assets |
262.523
|
164.846
|
66.026 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.215
|
11.495
|
11.388 |
|
|
Other Current Liabilities |
283.243
|
277.904
|
5.005 |
|
|
Provisions |
32.918
|
29.679
|
16.458 |
|
Total
Current Liabilities |
393.376
|
319.078
|
32.851 |
|
|
Net Current Assets |
(130.853)
|
(154.232)
|
33.175 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
496.590 |
794.415 |
300.278 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1771.195 |
666.581 |
19.273 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
12.734 |
45.259 |
13.293 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
0.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
NA |
13.068 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.168 |
NA |
0.591 |
|
|
TOTAL EARNINGS |
0.168 |
NA |
0.591 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
241 |
843 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
67.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
68.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
23.29
|
17.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.28
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.21
|
5.86
|
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.67
|
0.52
|
2.00 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
|
Particulars |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Due to Micro and Small Enterprises (As Certified by Management) |
0.000
|
0.000 |
0.000 |
|
Due to Others |
77.215
|
11.495
|
11.388 |
Note:
The registered office address of the company has been shifted from 32, Mahalaxmi
Arcade Racecourse Side, Mahalaxmi, Mumbai – 400034,
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
From 8:
|
Corporate identity number of the company |
U92100MH1976PTC018964 |
|
Name of the company |
DHARMA
PRODUCTIONS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
23-24, Jains Arcade, 2nd Floor, |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts |
|
Particular of charge holder |
YES BANK LIMITED |
|
Nature of instrument creating charge |
DEED OF HYPOTHECATION |
|
Date of instrument Creating the charge |
18.05.2011 |
|
Amount secured by the charge |
Rs.350.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 4.25% Above The Ybl Base Rate Terms of Repayment Bullet Repayment At The End Of 12 Months Or
Release Of The Film, Whichever Is Earlier Extent and Operation of the charge Exclusive Charge By Way Of Hypothecation
Over The Receivables And Negatives Of The Film Presently Titled
"Agneepath 2" Financed By
Yes Bank Limited |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10135524 |
|
Corporate
identity number of the company |
U92100MH1976PTC018964 |
|
Name of the
company |
DHARMA
PRODUCTIONS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
23-24, Jains Arcade, 2nd Floor, |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of charge
holder |
IDBI Bank Limited |
|
Nature of
description of the instrument creating or modifying the charge |
Bank Letter For
Change In Rate Of Interest |
|
Date of
instrument Creating the charge |
09/06/2009 |
|
Amount secured by
the charge |
Rs.400.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR Minus 100
Bps Fully Floating P.A. (Idbi Bank's BPLR As on 01-06-2009 Is 13% P.A.) Payable
Monthly on 1st Day of Every Month w.e.f. 01-06-2009. Terms of
Repayment BULLET Repayment
On February 1, 2010 Or Release Of The Film, Whichever Is Earlier. Extent and
Operation of the charge First Exclusive
Charge By Way of Hypothecation Over The Negative of The Film Presently Titled
"My Name Is Khan" (Starring Shahrukh Khan & Kajol In The Lead
Roles And Directed By Karan Johar) Financed By Idbi, Both Present And Future,
Including Physical Properties of Every Kind or Nature Or Relating To The Film
And Relating To Its Development, Production, Completion, Deliver, Exhibition,
Distribution Or Other Exploitation of The Rights And Its Receivables. |
|
Short particulars
of the property charged |
Whole of
Negatives of Film and All Versions Including Physical Properties Relating To
Development, Production, Completion, Delivery, Exibition, Distribution or
Other Exploitation of The Film, and All Versions, Incluiding The Property of
Exposed Film, Developed Film, Positives, Negatives, Prints, Special Effects,
Pre-Print Materials, Sound Tracks, Recordings, Audio and Video Tapes and
Discs of All Types and General Intangibles and All Receivables, Insurance
Claims and Other Rights To Receive Payments Of Money. |
|
Particulars of
the present modification |
In This Modification
The Rate of Interest Has Been Changed and Except This There Are No Change In
any Terms and Conditions, Amount and Securty. |
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.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.