Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
RENTWORKS INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Robert Warwick Medway |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Alan Van Niekerk |
|
|
|
Registration # |
11-131029 |
|
Street Address |
Windsor House, 6th Floor, CST Road, Kalina, Santacruz
(East), Mumbai-400098, Maharashtra, India |
||
|
Established Date |
27.02.2001 |
SIC Code |
-- |
|
Telephone# |
91-22-67616400 |
Business Style 1 |
Hiring |
|
Fax # |
91-22- 66950590 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Equipments |
|
|
# of employees |
30 (Approximately) |
Product Name 2 |
Appliance Apparatus |
|
Paid up capital |
Rs.
4,498,000/- |
Product Name 3 |
Gadgets |
|
Shareholders |
Foreign holdings – 100% |
Banking |
Axis Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
10 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Mauritius |
Rentworks Mauritius Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,367,611,000 |
Current Liabilities |
2,951,851,000 |
|
Inventories |
11,646,000 |
Long-term Liabilities |
-- |
|
Fixed Assets |
3,551,000 |
Other Liabilities |
-- |
|
Deferred Assets |
19,504,000 |
Total Liabilities |
2,951,851,000 |
|
Invest& other Assets |
1,031,607,000 |
Retained Earnings |
477,570,000 |
|
|
|
Net Worth |
482,068,000 |
|
Total Assets |
3,433,919,000 |
Total Liab. & Equity |
3,433,919,000 |
|
Total Assets (Previous Year) |
2,101,005,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales / Total Income |
1,040,801,000 |
Net Profit |
521,864,000 |
|
Sales(Previous yr) / Total Income |
384,099,000 |
Net Profit(Prev.yr) |
123,754,000 |
MIRA
INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
RENTWORKS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Windsor House, 6th Floor, CST Road, Kalina, Santacruz
(East), Mumbai-400098, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
27.02.2001 |
|
|
|
|
Com. Reg. No.: |
11-131029 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.498 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U71230mh2001ptc131029 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR10500A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCR8889C |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business : |
Subject is engaged in the business of renting out or letting on hire
of all kinds of Equipments, Appliance Apparatus and Gadgets. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
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 company 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 – 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 : |
Windsor House, 6th Floor, CST Road, Kalina, Santacruz
(East), Mumbai-400098, Maharashtra, India |
|
Tel. No.: |
91-22-67616400 |
|
Fax No.: |
91-22- 66950590 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
: |
Sandoz House, 4th
Floor, |
|
Tel. No.: |
91-22-66950595 |
|
Fax No.: |
91-22-66950590 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As On 29.07.2011
|
Name : |
Mr. Robert Warwick Medway |
|
Designation : |
Director |
|
Address : |
Lot 8, |
|
Date of Birth/Age : |
20.05.1967 |
|
Date of Appointment : |
27.02.2001 |
|
E-Mail: |
|
|
DIN No.: |
00715125 |
|
|
|
|
Name : |
Mr. Glenn Keith Goodall |
|
Designation : |
Director |
|
Address : |
Unit 4, |
|
Date of Birth/Age : |
14.05.1962 |
|
Date of Appointment : |
27.02.2001 |
|
DIN No.: |
02025978 |
|
|
|
|
Name : |
Mr. Alan Van Niekerk |
|
Designation : |
Director |
|
Address : |
102, |
|
Date of Birth/Age : |
08.11.1954 |
|
Date of Appointment : |
27.02.2001 |
|
DIN No.: |
01175495 |
|
|
|
|
Name : |
Mr. John Alan Kinghorn |
|
Designation : |
Director |
|
Address : |
41, Carrington Avenue Mosman, |
|
Date of Birth/Age : |
03.06.1941 |
|
Date of Appointment : |
06.08.2008 |
|
DIN No.: |
02021451 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U99999HR1996PTC040814 |
Dia
Vikas Capital Private Limited |
Director |
21-07-08 |
04-02-08 |
Active |
NO |
|
2 |
U71230MH2001PTC131029 |
Rentworks
India Private Limited |
Director |
09-08-08 |
06-08-08 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rentworks Mauritius Limited, |
|
449841 |
|
Financial Consulting Associates, |
|
1 |
|
Total |
|
449842 |
As on 29.07.2011
Equity Share Breakup (Percentage of Total Equity)
|
Category |
|
Percentage of
Holding |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of renting out or letting on hire
of all kinds of Equipments, Appliance Apparatus and Gadgets. |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Financial Institutions : |
·
Reliance
Capital Limited, “H” Block, 1st Floor, Dhirubhai Ambani Knowledge
City, Koparkhairne, Navi Mumbai-400710, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Plot No. 12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679025 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
Rentworks Mauritius Limited, |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
449842 |
Equity Shares |
Rs. 10/- each |
Rs.4.498 millions |
|
|
|
|
|
Notes:
The company during the year, bought back and extinguished
9183 Equity shares in acceptances with the provisions of the companies act 1956
and the Private Limited and Unlisted Public Company.
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 |
4.498 |
4.590 |
4.590 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
477.570 |
55.828 |
43.219 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
482.068 |
60.418 |
47.809 |
|
|
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 |
482.068 |
60.418 |
47.809 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.551 |
3.350 |
3.449 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Investments in Unguaranteed Residuals |
1031.607 |
1113.411 |
551.891 |
|
|
DEFERREX TAX ASSETS |
19.504 |
19.948 |
15.607 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.646
|
3.204
|
0.000
|
|
|
Sundry Debtors |
169.617
|
80.120
|
192.734
|
|
|
Cash & Bank Balances |
1955.264
|
761.557
|
988.639
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
242.730
|
119.415
|
90.780
|
|
Total
Current Assets |
2379.257
|
964.296
|
1272.153
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1350.225 |
706.757 |
905.053 |
|
|
Other Current Liabilities |
1601.606
|
1221.037
|
798.850
|
|
|
Provisions |
0.020
|
112.793
|
91.388
|
|
Total
Current Liabilities |
2951.851
|
2040.587
|
1795.291
|
|
|
Net Current Assets |
(572.594)
|
(1076.291)
|
(523.138)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
482.068 |
60.418 |
47.809 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1040.801 |
384.099 |
387.554 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1040.801 |
384.099 |
387.554 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
244.073 |
202.405 |
191.427 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
244.073 |
202.405 |
191.427 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
796.728 |
181.694 |
196.127 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.000 |
1.907 |
1.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
793.728 |
179.787 |
194.462 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
271.864 |
56.033 |
71.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
521.864 |
123.754 |
122.480 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.479 |
21.270 |
1.089 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
95.000 |
76.926 |
|
|
|
Corporate Dividend Tax on Interim Dividend |
0.000 |
16.145 |
13.074 |
|
|
|
Transferred to General Reserve |
65.865 |
12.400 |
12.300 |
|
|
BALANCE CARRIED
TO THE B/S |
477.478 |
21.479 |
21.269 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Rented Assets |
207.422 |
314.947 |
317.258 |
|
|
TOTAL IMPORTS |
207.422 |
314.947 |
317.258 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1137.02 |
269.60 |
266.83 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
50.14 |
32.22 |
31.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
33.36
|
8.56
|
15.06
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.64
|
2.98
|
4307
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.12
|
33.78
|
37.55
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81
|
0.47
|
0.71
|
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from Unit No. 5-C,
COMPANY
BACKGROUND:
Subject was incorporated on 27.02.2001. It is a 100% subsidiary of
Rentworks Mauritius Limited. The company is engaged in the business of
acquiring and dealing in the residuary interest in assets that are the subject
of leasing transactions, referred to in these financial statements as
“Residuals”.
OPERATIONS:
The Company is engaged in the business of acquiring and dealing in the
residuary interest in assets that are the subject of leasing transactions.
During the year, the total Income from Operations was Rs.1040.801 Millions as
against Rs.384.099 Millions in the previous year. The net profit of the Company
was Rs.521.864 Millions as against Rs.123.754 Millions Despite the global
meltdown in the year under reporting, the Company has been able to sustain its
income and profitability in line with the previous year’s results.
INVESTMENTS IN
UNGUARANTEED RESIDUALS:
The Company takes position and deals in the residual interest in assets
that are subject matter of leasing transactions. The amount deployed by the
company towards the cost of assets represents its investment in these residual
interests. As per the financial statements of the company as on 31.03.2010, the
investment in unguaranteed residual value is Rs.1033.740 Millions.
The Expected future cash flows arising From the residual interests in
leasing transactions, based on past experience and examination of current
investment portfolio plus those for which a fee has been earned and taken to
income, are analyzed in accordance with the lease expiry profile. The
consolidated estimated future realizable value of these cash flows on
31.03.2010 is Rs.4549.800 Millions.
The Estimated Fair Value as stated above is purely a projection based on
past experience and is not a valuation. It is further noted that it is not
guaranteed from any client to enable company to realize the same.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U71230mh2001ptc131029 |
|
Name of the
company |
RENTWORKS INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Windsor House, 6th Floor, CST Road, Kalina, Santacruz (East), Mumbai-400098, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Other |
|
Particular of
charge holder |
Axis Bank
Limited, Nariman Point Branch, Atlanta, Ground Floor, Nariman Point,
Mumbai-400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
hypothecation 28.09.2011 |
|
Date of
instrument Creating the charge |
28.09.2011 |
|
Amount secured by
the charge |
Rs. 262.836
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.24% Annual eff
rate Terms of Repayment RS 2 13.833 millions
payable quarterly from 15.04.2012 to 15.10.2016 Margin Nil Extent and Operation of the charge The charge
extends to the assignment of Rent Receivables by Rentworks India Private
Limited Payable by Netapp India Private Limited and Hypothecation of Rented
Assets and Registration of Charge on the Asset |
|
Short particulars
of the property charged |
Air conditioner 6
qty, Air Conditioner – Ducting 103 qty, Air Conditioning Unit 135 qty cabinets
4 qty Cable 10 qty,
Cable Networking 41 qty, Carpets 4qty, Construction Equipment 11 qty,
Electrical 36 qty, Fire Alarm System 2 qty Fixtures 25 qty,
Flooring 7 qty, Furniture 4 qty, Plumbing 7 qty, Professional Services – Non IT
2 qty, Public Address System 1 qty Rack 1 qty, Rack
– Non IT 4 qty, Service – Non IT 1 qty, Service Chrgs 5 qty, Service Chrgs –
IT 1 qty, Service Chrgs – Non IT 13 qty, Signage 15 qty Table 5 qty, UPS
4 qty, Workstation 2 qty |
Fixed assets:
· Leasehold Improvements
· Office Equipments
· Computers
· Furniture and Fixtures
· Software
·
Motor Vehicles
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.49.07 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.16 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
49 |
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.