MIRA
INFORM REPORT
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Report Date : |
19.11.2011 |
IDENTIFICATION DETAILS
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Name : |
VENKTRON DIGITAL SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Krishna Building No. 4, 2nd Floor, Shamrao Vithal Lane,
Lamington Road, Mumbai - 400 007, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.07.1990 |
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Com. Reg. No.: |
11-057131 |
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Capital
Investment / Paid-up Capital : |
Rs.16.948 Millions |
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CIN No.: [Company Identification
No.] |
U30007MH1990PTC057131 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer and Distributor of Computer Peripherals and Accessories. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 234000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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. Narendra Rathod |
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Designation : |
Finance Manager |
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Contact No.: |
91-22-43335333 |
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Date : |
19.11.2011 |
LOCATIONS
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Registered / Sales / Corporate Office : |
Krishna Building No. 4, 2nd Floor, Shamrao Vithal Lane, Lamington
Road, Mumbai – 400 007, Maharashtra, India |
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Tel. No.: |
91-22-23874427 (4 Lines) |
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Mobile No. : |
91-9820021890 [Mr. Ajay] |
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Fax No.: |
91-22-23874429 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. ft |
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Location : |
Owned |
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Administrative Office : |
305, Kalyandas Udyog Bhavan, Near Century Bazar, Worli, Mumbai – 400
025, |
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Tel. No.: |
91-22-43335333/ 24375262/ 63/ 24303684 |
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Mobile No.: |
91-9820021890 (Mr. Ajay Singhania) |
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Fax No.: |
91-22-43335300/ 23874429/ 24322124 |
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E-Mail : |
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Area : |
1500 Sq. ft |
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Location : |
Owned |
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Service Centre : |
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Branch Office : |
G – 43, Ground Floor, 1st Cross, Panampilly Nagar, Ernakulam – 682
036, |
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Tel No.: |
91-484-3220854/ 4011929 |
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Branch Office : |
Also Located at: ·
Chennai ·
·
Ahmedabad ·
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·
·
Kolkata ·
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Jaipur ·
·
Haryana ·
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DIRECTORS
As on 30.09.2010
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Name : |
Mr. Ajaykumar Roshanlal Singhania |
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Designation : |
Director |
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Address : |
302-B, |
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Date of Birth/Age : |
25.10.1957 |
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Qualification : |
B.Com |
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Date of Appointment : |
09.07.1990 |
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DIN No.: |
00182102 |
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Other Directorship : |
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Name : |
Ms. Sunita Ajay Singhania |
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Designation : |
Director |
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Address : |
302-B, |
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Date of Birth/Age : |
25.03.1959 |
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Qualification : |
B.Com |
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Date of Appointment : |
09.07.1990 |
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DIN No.: |
00182494 |
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KEY EXECUTIVES
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Name : |
Mr. Narendra Rathod |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Ajay Kumar Roshanlal Singhania |
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365110 |
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Sanjay Kumar Roshanlal Singhania |
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59510 |
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Arvindkumar Roshanlal Singhania |
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35010 |
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Sheeladevi Roshanlal Singhania |
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142500 |
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Rajanidevi S. Singhania |
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17500 |
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Sunitadevi A. Singhania |
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162500 |
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Roshanlal Singhania |
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2500 |
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Mamtadevi A. Singhania |
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38500 |
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Rakesh Chopra |
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249070 |
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Hari Jindal |
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351820 |
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Ankitasinghania |
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15000 |
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Felix Fernandes |
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124635 |
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David Chen |
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131125 |
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Total |
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1694780 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of Computer Peripherals and Accessories. |
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Agencies Held : |
v
HP v
Intel v
I Ball v
Dell v
Lenovo v
IBM v
LG v
Samsung |
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Imports : |
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Products : |
LCD Monitors |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users and Corproates |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
Bank of India, Bullion Exchange Branch, 185,
Sheikh Memon Street, Zaveri Bazar, Mumbai - 400 002, Maharashtra, India ·
Barclays Bank Plc, 601/603, Ceejay House, Shivsagar
Estate, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India ·
The Jammu and Kashmir Bank Limited, OTC Road
Branch, 1st Floor, SPA Plaza, OTC Road, Bangalore – 560 002,
Karnataka, India ·
Citi Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shetty and Somani Chartered Accountants |
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Address : |
507-509, Sai Chambers, Near Railway Station, Santacruz (East), Mumbai
- 400 055, |
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Tel. No.: |
91-22-61585960-69 |
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Fax No.: |
91-22-61585970 |
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E-Mail : |
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Associates : |
Rosh Infotech
Private Limited Address: 305, Kalyandas Udyog Bhavan, Near Century Bazar, Worli,
Mumbai – 400 025, Line of Business: Dealer and Distributor of Computer Peripherals and
Accessories. |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,694,780 |
Equity shares |
Rs.10/- each |
Rs.16.948 Millions |
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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 |
16.948 |
16.948 |
9.943 |
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2] Share Application Money |
0.000 |
0.000 |
11.300 |
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3] Reserves & Surplus |
41.628 |
39.205 |
5.800 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
58.576 |
56.153 |
27.043 |
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LOAN FUNDS |
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1] Secured Loans |
30.997 |
2.262 |
5.626 |
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2] Unsecured Loans |
2.179 |
4.044 |
10.182 |
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TOTAL BORROWING |
33.176 |
6.306 |
15.808 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.025 |
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TOTAL |
91.752 |
62.459 |
42.876 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.987 |
2.589 |
3.041 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.722 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.560 |
0.602 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
51.147
|
53.136 |
83.767 |
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Sundry Debtors |
109.240
|
89.990 |
90.840 |
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Cash & Bank Balances |
8.917
|
15.026 |
6.567 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
16.090
|
12.126 |
2.441 |
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Total
Current Assets |
185.394
|
170.278 |
183.615 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
103.517 |
102.987 |
140.338 |
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Other Current Liabilities |
2.923
|
3.791 |
1.041 |
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Provisions |
5.471
|
4.232 |
2.401 |
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Total
Current Liabilities |
111.911
|
111.010 |
143.780 |
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Net Current Assets |
73.483
|
59.268 |
39.835 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
91.752 |
62.459 |
42.876 |
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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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Income |
771.550 |
638.590 |
739.226 |
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Other Income |
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11.034 |
10.643 |
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TOTAL |
771.550 |
649.624 |
749.869 |
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Less |
TOTAL EXPENSES |
766.657 |
648.171 |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.893 |
1.454 |
NA |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.422 |
0.820 |
NA |
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PROFIT BEFORE
TAX |
3.471 |
0.634 |
NA |
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Less |
TAX |
1.099 |
0.420 |
NA |
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PROFIT AFTER TAX
|
2.372 |
0.214 |
NA |
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BALANCE CARRIED
TO THE B/S |
6.105 |
3.683 |
NA |
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IMPORT VALUE |
423.914 |
400.923 |
NA |
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Earnings Per
Share (Rs.) |
1.43 |
NA |
NA |
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Particulars |
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|
31.03.2011 |
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Sales Turnover [Approximately] |
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|
850.000 |
Expected Sales (2011-2012): Rs.1000.000 millions
The above information has been parted by Mr. Narendra Rathod (Finance Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.31
|
0.03 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.10 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.72
|
0.37 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.01 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.48
|
2.09 |
5.90 |
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Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.53 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
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Sundry Creditors |
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|
- For Goods |
101.297 |
101.624 |
140.338 |
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- For Expenses |
2.220 |
1.363 |
0.000 |
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|
103.517 |
102.987 |
140.338 |
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Check List by Info Agents |
Available in Report [Yes/No] |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Construction of the firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoters background |
- |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of contact
person |
Yes |
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Turnover of firm for last
three years |
Yes |
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Profitability for last
three years |
No |
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Reasons for variation
<> 20% |
- |
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Estimation for coming
financial year |
Yes |
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Capital the business |
No |
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Details of sister
concerns |
- |
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Major Suppliers |
No |
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Major Customers |
No |
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Payment Terms |
Yes |
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Export / Import Details
[If Applicable] |
Yes |
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Market Information |
- |
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Litigations that the firm
/ promoter involved in |
- |
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Banking Details |
Yes |
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Banking Facility Details |
No |
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Conduct of the banking
account |
- |
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Buyer visit details |
- |
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Financials, if provided |
No |
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Incorporation details, if
applicable |
- |
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Last accounts filed at
ROC |
- |
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Major Shareholders, if
applicable |
- |
FORM 8:
|
Corporate
identity number of the company |
U30007MH1990PTC057131 |
|
Name of the
company |
VENKTRON DIGITAL SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
305, Kalyandas Udyog Bhavan, Near Century Bazar, Worli, Mumbai – 400
025, E-Mail: jessyindia@rediffmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10181001 |
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Type of charge |
Book Debts Movable Property Floating Charge Others (All current
Assets) |
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Particular of
charge holder |
Barclays Bank Plc, 601/603, Ceejay House, Shivsagar Estate, Dr. Annie
Besant Road, Worli, Mumbai – 400 018, Maharashtra, India E-Mail: kanakendu.banerjee@barclays.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Hypothecation Agreement |
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Date of
instrument Creating the charge |
03/12/2010 |
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Amount secured by
the charge |
Rs.90.000 millions
|
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest /
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment: As agreed by and
with the Bank from time to time. Margin: As applicable, if
any. Extent and
Operation of the charge: Hypothecation by
way of exclusive charge on the security of the company for the repayment of
Rs.90.000 millions and all other amounts due and payable by the Company to
the Bank. Others: The hypothecated
assets shall be the continuing security for payment of the facility together
with all interest and all other monies due to the Bank and any future loans
provided by the Bank. |
|
Short particulars
of the property charged |
Exclusive charge
on all the current assets of the borrower, present and future, including
without its limitation its stocks of raw materials, semi finished and
finished goods, o/s stores and other movables, whether installed or not and
whether lying loose or in cases or which are now lying or stored in or about
or shall hereafter from time to time during the continuance of these present
be brought into or be stored in the borrowers factories, premises and godown
and / or wherever else the same may be and / or be held by any party to the
order and / or disposition of the borrower and / or in course of transit and
/ or on high seas and / or otherwise and / or on order or delivery,
whersoever in the possession of the borrower and either by way of
substitution or addition. |
|
Particulars of
the present modification |
By present
modification, the existing charge amount of Rs.70.000 millions is enhanced to
Rs.90.000 millions against the security of exclusive charge on all the
current assets of the borrower, present and future, including without its
limitation its stocks of raw materials, semi finished and finished goods, o/s
stores and other movables, whether installed or not and whether lying loose
or in cases or which are now lying or stored. |
|
Name of the company |
VENKTRON DIGITAL SYSTEMS PRIVATE LIMITED |
|
Presented By |
Bank of India, Bullion Exchange Branch, 185, Sheikh Memon Street,
Zaveri Bazar, Mumbai-400002, Maharashtra, India |
|
1) Date and description of instrument creating the change |
Deed of
Hypothecation of tangible Movable Property dated 23.04.1997 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.000 Millions |
|
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
all tangible movable assets of the company in particular stock of computer
and computer spare parts i.e. 486 DCL CPU with air cooling 5 years. I/C card,
Key Board, Colour key cap (IMP) 486 VLB Mother Board Computer Cases, Colour
Printer etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest at 3.25%
OLPR Min 13.75% p.a. with quarterly rests or at such other rates as may be
notified to the company by the bank form time to time with power to the bank
to seisze and reallise |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of India, Bullion Exchange Branch, 185, Sheikh Memon Street,
Zaveri Bazar, Mumbai-400002, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
Supplemental Deed
of Hypothecation dated 09.11.2001 |
|
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. |
Original charge
created on 23.04.1997 for Rs.1.000 Millions First
supplemental deed of hypothecation dated 14.06.1999 charge enhanced form
Rs.1.000 Millions to Rs.2.500 Millions Second
supplemental deed of hypothecation sdated 10.01.2001 charge enhanced form
Rs.2.500 Millions to Rs.3.500 Millions Third
supplemental deed of hypothecation dated 09.11.2009 charge enhanced From
Rs.3.500 Millions to Rs.5.500 Millions Fourth
supplemental deed of hypothecation dated 18.03.2003 charge reduced from
Rs.5.500 Millions to Rs.3.500 Millions Now by this present
modification dated 20.03.2003 charge enhanced form Rs.3.500 Millions to
Rs.7.500 Millions |
|
Corporate
identity number of the company |
U30007MH1990PTC057131 |
|
Name of the
company |
Venktron Digital Systems Private Limited |
|
Address of the
registered office or of the principal place of business in |
305, Laliandas Udyog Bhavan Premises, Near Century Bazar, Prabhadevi,
Mumbai-400025, Email ID : jessyindia@rediffmail.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Others – Stocks
etc |
|
Particular of
charge holder |
The Jammu And
Kashmir Bank Limited, OTC Road Branch, 1st floor, Email ID : jsurya@vsnl.com |
|
Nature of
instrument creating charge |
Hypothecation of
stocks to secure secured over draft facility and letter of Credit facility |
|
Date of
instrument Creating the charge |
21.12.2009 |
|
Amount secured by
the charge |
Rs.12.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest SOD : PLR + 1.50% Terms of
Repayment Repayable on
demand Margin SOD : 25% LC : 25% Extent and
Operation of the charge Charge extends by
way of first charge on all the assets throughout the period of sanctioned
limits. The limits
sanctioned are as under : SOD :
Rs.6.000 Millions LC :
Rs.6.000 Millions Total :
Rs.12.000 Millions Others EM of property
No. 109, 110, 111, 112, First Floor, PID No. 47-5-1094/19-1, Municipal No.
1094/99-1, SPA Plaza, Sri. |
|
Short particular
of the property or asset(s) charged |
i) Hypothecation
of the whole of the present and future stocks, book debts, receivables,
claims, bills etc belonging to the company situated at Registered Office at
No. 305, Kaliandas Udyog Bhavan ii) Near Century
Bazaar, Worli, Mumbai- 400025 and Major Units at No. 111, SPA Plaza, First
Floor, No. 1094, OTC Road, Bangalore or store of the concern or elsewhere. |
CONTINGENT LIABILITIES
NOT PROVIDED FOR: (As on 31.03.2010)
a) Surety of Rs.0.100 million given by the company to Sales Tax
Department on behalf of third party.
b) The Company has received a demand for Rs.0.045 million towards Income
Tax for the A.Y. 2007-08. The Company has filed an appeal against this demand
and expects no additional tax liability for the A.Y. 2007-08. In view of same,
no additional provision for taxation has been made for the said assessment
year.
FIXED ASSETS:
v Flat
v Furniture and Fixtures
v Fax Machine
v Office Equipments
v Air Conditioner
v Vehicles
v Computer
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.50.72 |
|
|
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.68.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.