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|
Report Date : |
12.11.2011 |
IDENTIFICATION
DETAILS
|
Name : |
HUMBOLDT WEDAG
INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Commerce House, 8th
Floor, Room No.8C, 2A, |
|
|
|
|
Country : |
|
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|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
21.07.1976 |
|
|
|
|
Com. Reg. No.: |
21-30634 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.200
Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U51909WB1976PTC030634 |
|
|
|
|
TAN No.: [Tax Deduction & Collection Account
No.] |
CALH00484B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7474G |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
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|
|
|
Line of Business : |
Manufacturer of
Cement Plant and Machinery, fast expanding and having good business in Indian
and International market. |
|
|
|
|
No. of Employees: |
2500
(Approximately) |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED
CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4355672 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well
established company and a part of German giant. Financial position of the companies
is good. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions. It can be regarded
as a promising business partner in a medium to long run. |
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 : |
Mathura Road,
Mehtab House A-36, Mohan Co-op Estate, New Delhi – 110044, Delhi, India |
|
Tel. No.: |
91-11-42101100/200
|
|
Fax No.: |
91-11-42101104/105 |
|
E-Mail : |
|
|
|
|
|
Branch 1 : |
Suite 803, 8th
Floor, Dina House, Ruttonjee Centre, 11, Duddell Street, Central Hong Kong |
|
Tel. No.: |
852-25373613 |
|
Fax No.: |
852-25373689 |
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E-Mail : |
|
|
|
|
|
Branch 2 : |
36th Floor,
Tower 1, |
|
Tel. No.: |
86-21-25373277 |
|
Fax No.: |
86-21-63173763 |
|
E-Mail : |
|
|
|
|
|
Branch 3 : |
|
|
Tel. No.: |
43-1-240-25-300 |
|
Fax No.: |
43-1-240-25-310 |
|
E-Mail : |
DIRECTORS
AS ON 17.05.2011
|
Name : |
Ms. Vidya Sagar |
|
Designation : |
Director |
|
Address : |
F 111 DLF City,
Phase – I, Gurgaon – 122002, |
|
Date of Birth/Age : |
20.12.1925 |
|
Date of Appointment : |
21.07.1976 |
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 |
U74210DL1967PTC016861 |
I P SUPPORT SERVICES (INDIA)
PVT LTD |
Director |
03/08/1967 |
03/08/1967 |
27/02/2011 |
Active |
NO |
|
2 |
U29253DL1976PTC216812 |
HUMBOLDT WEDAG INDIA
PRIVATE LIMITED |
Director |
21/07/1976 |
21/07/1976 |
27/02/2011 |
Active |
NO |
|
3 |
U18109DL1993PTC054093 |
LECOANET HEMANT INDIA
PRIVATE LIMITED |
Director |
17/06/1993 |
17/06/1993 |
27/02/2011 |
Active |
NO |
|
4 |
U74899DL1994PTC057707 |
DR WILLMAR SCHWABE INDIA
PRIVATE LIMITED |
Alternate director |
06/03/2010 |
04/03/1994 |
27/02/2011 |
Active |
NO |
|
5 |
U29130TN1996PTC035709 |
AUMUND ENGINEERING PRIVATE
LIMITED |
Director |
10/06/1996 |
10/06/1996 |
01/12/2010 |
Active |
NO |
|
6 |
U29219AP1997PTC027696 |
NIEHOFF OF INDIA PRIVATE
LIMITED |
Director |
06/08/1997 |
06/08/1997 |
27/02/2011 |
Active |
NO |
|
7 |
L29130MH1962PLC012340 |
FAG BEARINGS INDIA LIMITED |
Director |
24/04/2009 |
20/04/2006 |
27/02/2011 |
Active |
NO |
|
Name : |
Mr. Ravindra
Prakash |
|
Designation : |
Director |
|
Address : |
202A, Laburnum
Lok, Gurgaon – 122002, |
|
Date of Birth/Age : |
12.12.1944 |
|
Date of Appointment : |
12.01.2004 |
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 |
U13209PN2001PTC015703 |
HALLMARK MINERALS (INDIA)
PRIVATE LIMITED |
Director |
17/11/2003 |
17/11/2003 |
22/12/2008 |
Active |
NO |
|
2 |
U29253DL1976PTC216812 |
HUMBOLDT WEDAG INDIA PRIVATE
LIMITED |
Director |
12/01/2004 |
12/01/2004 |
27/04/2011 |
Active |
NO |
|
3 |
U13100DL2005PTC132569 |
MAGNUM MINERALS PRIVATE
LIMITED |
Director |
19/02/2005 |
19/02/2005 |
- |
Active |
NO |
|
Name : |
Mr. Josef Martin
Friedrich Gierse |
|
Designation : |
Director |
|
Address : |
200, Jor Bagh, |
|
Date of Birth/Age : |
26.02.1956 |
|
Date of Appointment : |
31.03.2009 |
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 |
U29253DL1976PTC216812 |
HUMBOLDT WEDAG INDIA
PRIVATE LIMITED |
Whole-time director |
23/09/2009 |
31/03/2009 |
- |
Active |
NO |
|
Name : |
Mr. Andrew Blythe
|
|
Designation : |
Director |
|
Address : |
Brick Kilnfarm |
|
Date of Birth/Age : |
24.09.1964 |
|
Date of Appointment : |
31.03.2009 |
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 |
U29253DL1976PTC216812 |
HUMBOLDT WEDAG INDIA
PRIVATE LIMITED |
Director |
23/09/2009 |
31/03/2009 |
16/02/2011 |
Active |
NO |
|
Name : |
Mr. Manfred Josef
Weinandy |
|
Designation : |
Director |
|
Address : |
Hasselbeckstrabe
106 Mettmann |
|
Date of Birth/Age : |
21.08.1955 |
|
Date of Appointment : |
21.05.2011 |
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 |
U29253DL1976PTC216812 |
HUMBOLDT WEDAG INDIA
PRIVATE LIMITED |
Director |
17/05/2011 |
21/02/2011 |
- |
Active |
NO |
KEY
EXECUTIVES
|
Name : |
Mr. Dhiroj Kumar
Barad |
|
Designation : |
Secretary |
|
Address : |
L 324, Sarita
Vihar, |
|
Date of Birth : |
25.06.1975 |
|
Date of Appointment : |
04.01.2010 |
|
Date of Ceasing : |
01.10.2010 |
|
|
|
|
Name : |
Mr. Dharmender
Tuteja |
|
Designation : |
Secretary |
|
Address : |
183, Mandakini
Enclave, Alaknanda, New Delhi – 110019, Delhi, India |
|
Date of Birth : |
25.06.1975 |
|
Date of Appointment : |
04.01.2010 |
MAJOR SHAREHOLDERS
AS ON 17.05.2011
|
Names of
Shareholders |
No. of Shares |
|
KHD Humboldt
Wedag International GMBH, Germany |
1919904 |
|
MFC Industrial
Holdings AG, Germany |
96 |
|
Total |
1920000 |
AS ON 17.05.2011
|
Equity Share Break Up |
Percentage |
|
Foreign holdings (Foreign institutional investors ) foreign companies
foreign financial institutions , non residents or Overseas corporate bodies
or others |
100.00 |
|
Total |
100.00 |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturer of
Cement Plant and Machinery, fast expanding and having good business in Indian
and International market. |
|
|
|
|
Products : |
· Decanter Centrifuge Components · Other Spares · Vibrating Screen Centrifuge |
|
|
|
|
Exports : |
|
|
Products : |
Motors Pumps,
Submersible Pumps |
PRODUCTION STATUS AS ON 31.03.2009
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Cement Plant Equipments |
MT |
|
-- |
820 |
|
Vibrating Screen |
Pcs. |
|
-- |
1 |
|
Vibrating Screen Centrifuge |
Pcs. |
|
-- |
3 |
|
Decanter Centrifuges including Solid Bowl |
Nos. |
|
-- |
20 |
|
Pusher Type |
|
|
|
|
|
Cement Plant Equipments |
MT |
|
1199 |
361 |
GENERAL
INFORMATION
|
No. of Employees : |
2500 (Approximately) |
|
|
|
|
Bankers : |
· Deutsche Bank AG 9, Shakespeare Sarani, Kolkata-700071, West ·
State Bank of |
|
|
|
|
Banking Relations : |
Unknown |
|
|
|
|
Auditors : |
|
|
Name: |
Mr. Deepak Ray Chartered
Accountants |
|
Address : |
7th
Floor, Building No.10Tower B, DLF Cyber city Complex, DLF Phase – II, Gurgaon
– 122002, Haryana, India |
|
|
|
|
Holding Company : |
·
KHD
Humboldt Wedag International GmbH, Vienna (Upto April 20, 2010) ·
KHD Humboldt
Wedag GmbH Cologne (Upto April 20, 2010) |
|
|
|
|
Ultimate Holding Company: |
KHD Humboldt
Wedag International AG (Upto April 20, 2010) |
|
|
|
|
Fellow Subsidiaries : |
·
KHD
Humboldt Wedag GmbH, Germany ·
Humboldt
Wedag Inc., USA ·
KHD
Humboldt Wedag Industrial Services AG Cologne ·
ZAB
Zementanlagenbau GmbH Dessau ·
KHD
Humboldt Wedag Coal and Mineral Tech GmbH, Germany ·
Humboldt
Wedag SA Private Limited, South Africa ·
KHD
Humboldt Wedag Machinery Equipment (Beijing) Co. Limited |
CAPITAL
STRUCTURE
AS ON 31.03.2010
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/-each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1920000 |
Equity Shares |
Rs.10/-each |
Rs.19.200 millions |
|
|
|
|
|
Notes:
Of the above Equity Shares,
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.200 |
19.200 |
19.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1294.838 |
1069.718 |
667.087 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1314.038 |
1088.918 |
686.287 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1314.038 |
1088.918 |
686.287 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net
Block] |
66.889 |
76.048 |
117.677 |
|
|
Capital
work-in-progress |
3.214 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX
ASSETS |
49.002 |
18.003 |
10.852 |
|
|
|
|
|
|
|
|
CURRENT ASSETS,
LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
93.692
|
80.928
|
183.712 |
|
|
Sundry Debtors |
1455.912
|
1336.159
|
1251.221 |
|
|
Cash & Bank
Balances |
1599.150
|
1186.673
|
957.824 |
|
|
Other Current
Assets |
474.792
|
50.572
|
146.644 |
|
|
Loans &
Advances |
387.649
|
461.171
|
651.844 |
|
Total Current Assets |
4011.195
|
3115.503
|
3191.245 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2060.634
|
1393.931
|
1735.937 |
|
|
Others Current
Liabilities |
95.927
|
171.408
|
49.094 |
|
|
Provisions |
659.701
|
555.297
|
848.456 |
|
Total Current Liabilities |
2816.262
|
2120.636
|
2633.487 |
|
|
Net
Current Assets |
1194.933
|
994.867
|
557.758 |
|
|
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1314.038 |
1088.918 |
686.287 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
4132.310 |
|
|
|
Other Income |
|
|
316.020 |
|
|
|
TOTAL (A) |
|
|
4448.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
|
4203.010 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
245.320 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
245.320 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
64.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
180.950 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
|
42.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
|
138.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
1573.814 |
|
|
TOTAL EARNINGS |
|
|
1573.814 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
369.247 |
|
|
|
Capital Goods |
|
|
0.000 |
|
|
TOTAL IMPORTS |
|
|
369.247 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
72.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
NA
|
NA
|
3.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
4.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
5.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.14
|
1.94
|
3.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.47
|
1.21 |
LOCAL
AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has
been shifted from
The registered office address of the company has
been shifted from Commerce
House, 8th Floor, Room No.8C, 2A, Ganesh Chandra Avenue, Kolkata - 700013, West Bengal, India to
present w.e.f. 08.12.2010
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 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.50.27 |
|
|
1 |
Rs.80.07 |
|
Euro |
1 |
Rs.68.44 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.