%20LIMITED%20-%20160492%2019-Nov-2011_files/image002.jpg){kind=small}
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
160492 |
Principal Name 1 |
Mr. Vijay N.
Athalye |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Deepak P.
Tikekar |
|
|
|
Registration # |
146040 |
|
Street Address |
101, Vasan Udyog Bhavan, Opp Phoenix High Street, Senapati Bapat Marg,
Lower Parel(W), Mumbai-400013, Maharashtra, India |
||
|
Established Date |
30.04.2004 |
SIC Code |
-- |
|
Telephone# |
91-22-24961555 |
Business Style 1 |
Manufacturers of
Textile Chemicals. |
|
Fax # |
91-22-24981555 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Sizing Stain Remover |
|
# of employees |
Not Available |
Product Name 2 |
Pre Treatment |
|
Paid up capital |
Rs.24,803,000 |
Product Name 3 |
Dyeing |
|
Shareholders |
Bodies corporate 34.63% Directors or
relatives of Directors 63.75% |
Banking |
Bank of Baroda,
Bandra (West) Branch |
|
Public Limited Corp. |
-- |
Business Period |
7 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
245,505,000 |
Current Liabilities |
66,701,000 |
|
Inventories |
113,157,000 |
Long-term Liabilities |
462,662,000 |
|
Fixed Assets |
191,178,000 |
Other Liabilities |
-- |
|
Deferred Assets |
12,626,000 |
Total Liabilities |
529,363,000 |
|
Invest& other Assets |
50,913,000 |
Retained Earnings |
84,713,000 |
|
|
|
Net Worth |
114,016,000 |
|
Total Assets |
643,379,000 |
Total Liab. & Equity |
643,379,000 |
|
Total Assets (Previous Year) |
464,279,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
762,664,000 |
Net Profit |
16,710,000 |
|
Sales(Previous yr) |
610,833,000 |
Net Profit(Prev.yr) |
20.442,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
101, Vasan Udyog Bhavan, Opp Phoenix High Street, Senapati Bapat Marg,
Lower Parel(W), Mumbai-400013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
30.04.2004 |
|
|
|
|
Com. Reg. No.: |
146040 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.24.803
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH2004PLC146040 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML05684A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1023F |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of
Textile Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
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 456064 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 concern 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 : |
101, Vasan Udyog Bhavan, Opp Phoenix High Street, Senapati Bapat Marg,
Lower Parel(W), Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-24961555 |
|
Fax No.: |
91-22-24981555 |
|
E-Mail : |
|
|
|
|
|
Sales Office : |
·
Mumbai ·
Ahmedabad ·
New Delhi ·
Kolkata ·
Udaipur ·
Ludhiana ·
Erode ·
Tirupur. |
|
|
|
|
Works : |
|
|
Tel. No.: |
91- 2192-
276081/ 82 |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Vijay N.
Athalye |
|
Designation : |
Managing Director |
|
Address : |
84, Vaibhav Apartments,
Opposite Agar Bazar, Dadar, Mumbai-400028, |
|
Date of Birth/Age : |
15.01.1950 |
|
Date of Appointment : |
30.04.2004 |
Directorship in
Other Companies :
|
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 |
U24110MH2004PLC146040
|
LAKELAND
CHEMICALS (INDIA) LIMITED |
Managing
director |
01/04/2009 |
30/04/2004 |
- |
Active |
NO |
|
Name : |
Mr. Deepak P.
Tikekar |
|
Designation : |
Director |
|
Address : |
12, Swami samarth
P No.23, Sector-13, Khanda Colony, New Panvel-410200, Mumbai, |
|
Date of Birth/Age : |
08.04.1953 |
|
Date of Appointment : |
30.04.2004 |
Directorship in
Other Companies :
|
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 |
U24110MH2004PLC146040
|
LAKELAND
CHEMICALS (INDIA) LIMITED |
Whole-time
director |
01/06/2009 |
30/04/2004 |
- |
Active |
NO |
|
Name : |
Mr. Rajendar M. Kulkarni |
|
Designation : |
Director |
|
Address : |
722/48/49, |
|
Date of Birth/Age : |
26.11.1956 |
|
Date of Appointment : |
27.06.2005 |
Directorship in
Other Companies :
|
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 |
U24110MH2004PLC146040
|
LAKELAND CHEMICALS
(INDIA) LIMITED |
Alternate
director |
29/03/2005 |
29/03/2005 |
- |
Active |
NO |
|
Name : |
Mr. Paul
McCormack |
|
Designation : |
Director |
|
Address : |
11 Rock Road
Urmston Manchester M419WD |
|
Date of Birth/Age : |
29.07.1967 |
|
Date of Appointment : |
10.01.2005 |
|
Name : |
|
|
Designation : |
Director |
|
Address : |
24, Skipton,
Avenue Chadderzon, Oldham, 0L90QA United Kingdom |
|
Date of Birth/Age : |
10.12.1951 |
|
Date of Appointment : |
10.01.2005 |
Directorship in
Other Companies :
|
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 |
U24100MH1987PLC043723
|
ENVA CHEM
(INDIA) LIMITED |
Director |
01/08/2001 |
01/08/2001 |
- |
Dormant |
NO |
|
2 |
U24110MH2004PLC146040
|
LAKELAND
CHEMICALS (INDIA) LIMITED |
Director |
10/01/2005 |
10/01/2005 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Athalye |
|
1481050 |
|
Deepak Tikekar |
|
180000 |
|
Kamalini M. Shevade |
|
5000 |
|
Saroj Vasant Tikekar |
|
10000 |
|
Vasanth Tikekar |
|
10000 |
|
Yash Tikekar |
|
10000 |
|
Rajendra Kulkarni |
|
5000 |
|
Lakeland Laboratories Limited, India |
|
921250 |
|
Arun Chankar |
|
38000 |
|
Total |
|
2660300 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
34.63 |
|
Directors or relatives of Directors |
63.75 |
|
Other top fifty shareholders |
1.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Textile Chemicals. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda,
Bandra (West) Branch, 6 Meghdoot Junction of Turner Road And Linking Road,
Bandra(W), Mumbai-400050, Maharashtra, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Note: All the above loans are personally guaranteed by the Managing
Director and a Director.
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B A Ved and Company Chartered Accountants |
|
Address : |
C/ 10, Vrandavan Vatika, |
|
|
|
|
Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2480300 |
Equity Shares |
Rs.10/- each |
Rs.24.803
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24.803 |
23.003 |
23.003 |
|
|
2] Share Application Money |
4.500 |
4.500 |
0.000 |
|
|
3] Reserves & Surplus |
84.713 |
65.302 |
44.860 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
114.016 |
92.805 |
67.863 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
380.155 |
250.405 |
147.780 |
|
|
2] Unsecured Loans |
82.507 |
70.480 |
57.988 |
|
|
TOTAL BORROWING |
462.662 |
320.885 |
205.768 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
576.678 |
413.690 |
273.631 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
191.178 |
140.001 |
124.826 |
|
|
Capital work-in-progress |
70.228 |
42.459 |
13.566 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.035 |
1.035 |
1.035 |
|
|
DEFERREX TAX ASSETS |
12.626 |
10.480 |
8.878 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
113.157
|
85.029 |
60.985 |
|
|
Sundry Debtors |
218.232
|
156.469 |
96.780 |
|
|
Cash & Bank Balances |
6.221
|
5.826 |
3.459 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
21.052
|
20.216 |
7.700 |
|
Total
Current Assets |
358.662
|
267.540 |
168.924 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.190
|
39.517 |
|
|
|
Other Current Liabilities |
6.555
|
3.740 |
40.199 |
|
|
Provisions |
13.956
|
7.332 |
6.345 |
|
Total
Current Liabilities |
66.701
|
50.589 |
46.544 |
|
|
Net Current Assets |
291.961
|
216.951 |
122.380 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
9.650 |
2.764 |
2.946 |
|
|
|
|
|
|
|
|
TOTAL |
576.678 |
413.690 |
273.631 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
762.664 |
610.833 |
461.616 |
|
|
|
Other Income |
0.492 |
0.208 |
0.294 |
|
|
|
TOTAL (A) |
763.156 |
611.041 |
461.910 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
527.695 |
420.300 |
291.982 |
|
|
|
Manufacturing Expenses |
47.113 |
33.687 |
24.640 |
|
|
|
Excise Duty/ Sales Tax |
47.778 |
58.448 |
64.262 |
|
|
|
Employee Cost and Directors Remuneration |
16.913 |
13.670 |
11.446 |
|
|
|
Administrative and Other Expenses |
45.772 |
35.971 |
25.260 |
|
|
|
Amortization of Expenses |
4.235 |
2.282 |
1.357 |
|
|
|
Increase/(Decrease) in Finished Goods |
(15.016) |
(23.209) |
(8.733) |
|
|
|
TOTAL (B) |
674.490 |
541.149 |
410.215 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
88.666 |
69.892 |
51.694 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
54.660 |
36.965 |
27.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.006 |
32.927 |
24.447 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.404 |
11.002 |
9.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.602 |
21.925 |
15.360 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
3.892 |
1.483 |
3.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
16.710 |
20.442 |
11.894 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.19
|
3.34 |
2.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.70
|
3.58 |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.75
|
5.24 |
4.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.24 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.64
|
4.00 |
3.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.37
|
5.49 |
3.63 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The register office has been shifted from 12, Swami Samath Co-Operative Housing Society Limited, Sector – 13, Khanda Colony, New Panvel, Navi Mumbai - 410 206, Maharashtra, India to present w.e.f.30.09.2010.
Form 8:
|
This form is for |
Creation of charge |
|
Charge identification number of the
modified |
-- |
|
Corporate identity number of the company |
U24110MH2004PLC146040 |
|
Name of the company |
LAKELAND CHEMICALS (INDIA) LIMITED |
|
Address of the registered office or of the
principal place of business in |
101, Vasan Udyog Bhavan, Opp. Phoenix High
Street, Senapati Bapat Marg, Lower Parel (W), Mumbai-400013, Maharashtra,
India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of charge holder |
Bank of Baroda, Opera House Branch,Modi
Chambers(Nr.French Bridge), Opp Royalopera House Theatre,Pandit Paluskar
Chowk, Mumbai-400004, Maharashtra, India |
|
Nature of description of the instrument
creating or modifying the charge |
Composite Hypothecation Agreement |
|
Date of instrument Creating the charge |
21.04.2011 |
|
Amount secured by the charge |
Rs.40.000 Millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest 7.5% over base rate Terms of Repayment Adhoc Cash Credit Margin 25% on Stocks 30% on Book Debts Extent and Operation of the charge Bank Of Baroda B/O Opera House Branch Modi
Chambers Pandit Paluskar Chowk Mumbai First Charge Holder Others NIL |
|
Short particulars of the property charged |
The Whole of The Borrower's Stocks Both
Present And Future All The Present And Future Book Debts,
Outstanding, Monies Receivable, Claims, Bills, Contracts, Engagements And
Securities All The Tangible Moveable Machinery And
Plant And Cranes, Boats And Crafts And Vehicles Of The Borrower Together With
Spares, Tools And Accessories And Other Movables |
FIXED ASSETS
- Land and Land Development
- Plant and Machinery
- Electric Installation
- Lab Equipments
- Fire Extinguishers
- Furniture Fixtures
- Computers
- Air Conditioner
- Motor Car
- Scooter Car
- Scooter
- Waiting Machine
- Factory Equipments
- Fork Lift
- Technical Know How
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.51.35 |
|
|
1 |
Rs.80.97 |
|
Euro |
1 |
Rs.69.26 |
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.