MIRA
INFORM REPORT
|
Report Date : |
12.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDAGE DEVELOPMENT CONSTRUCTION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D – 107, T.T.C. Industrial Area, Shirvane, Post- Nerul, Navi Mumbai – 400706,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
03.10.1994 |
|
|
|
|
Com. Reg. No.: |
11-081665 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.407 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1994PTC081665 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI05928G MUMI05191E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC13725R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing consultancy services for civil engineering, infrastructure
engineering projects, buildings, roads and highways and irrigation canal |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
D – 107, T.T.C. Industrial Area, Shirvane, Post - Nerul, Navi Mumbai –
400706, Maharashtra, India |
|
Tel. No.: |
91-22-27670877/27617410 |
|
Fax No.: |
91-22-27622978 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 07.09.2010
|
Name : |
Mr. Sham Ganpat Chougule |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Champagne House, 69, Khan Abdul, Gafar Khan Road, Worli Sea Face,
Worli, Mumbai – 400030, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.07.1937 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.10.1994 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00013212 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ranjit Sham Chougule |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Champagne House, 69, Khan Abdul, Gafar Khan Road, Worli Sea Face,
Worli, Mumbai – 400030, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.07.1973 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.04.1997 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00013174 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vikrant Sham Chougule |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Champagne House, 69, Khan Abdul, Gafar Khan Road, Worli Sea Face,
Worli, Mumbai – 400030, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.12.1971 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.04.2008 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00013235 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 07.09.2010
|
Names of Shareholders |
No. of Shares |
|
Sham Ganpat Chougule |
172000 |
|
Ranjit Sham Chougule |
113750 |
|
Priti Sham Chougle |
32500 |
|
Vikrant Sham Chougule |
130010 |
|
Indage Investments Private Limited, India |
160000 |
|
Indage Engineering Private Limited, India |
32500 |
|
Total |
640760 |
Equity Share Break up (Percentage of Total Equity)
As on 07.09.2010
|
Category |
Percentage |
|
Bodies corporate |
30.04 |
|
Directors or relatives of Directors |
69.96 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing consultancy services for civil engineering, infrastructure
engineering projects, buildings, roads and highways and irrigation canal |
|
|
|
GENERAL INFORMATION
|
Supplier : |
·
Bhutda Fabricators Private Limited ·
Arihant Trading Company ·
Express Pesticides Corporation ·
Ajit Tyres and Spares ·
Arya Enterprises ·
Balaji Enterprises ·
Maharashtra Building Materials Private Limited ·
Shivkant Roopalal Sandal |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Abhyudaya Co-operative Bank Limited,
Administrative Office, K.K. Tower, Abhyudaya Bank Lane, G.D.Ambekar Marg,
Parel Village, Mumbai – 400012, Maharashtra, India ·
Bank of India, 1st Floor, Socio
Welfare Complex, Plot No. 182/B, Nerul, Navi Mumbai – 400706, Maharashtra,
India ·
Saraswat Co-operative Bank Limited ·
Syndicate Bank ·
ICICI Bank ·
HDFC Bank |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute : |
·
Tata Finance Limited ·
TML Financial Services Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Jayesh Sanghrajka and Company Chartered Accountants |
|
Address : |
Unit No. 405-408, 4th Floor, Hind Rajasthan Centre, D.S.
Phalke Road, Dadar(East), Mumbai – 400014, Maharashtra, India |
|
Tel No. : |
91-22-40774600 |
|
Fax No. : |
91-22-40774606 |
|
Email Id : |
|
|
PAN.: |
AADFJ9072C |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
640760 |
Equity Shares |
Rs.10/- each |
Rs.6.407
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 |
6.407 |
6.407 |
6.407 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
105.227 |
94.817 |
82.986 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
111.634 |
101.224 |
89.393 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.087 |
7.152 |
1.471 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2.087 |
7.152 |
1.471 |
|
|
DEFERRED TAX LIABILITIES |
0.973 |
0.770 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
114.694 |
109.146 |
90.864 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.228 |
59.748 |
58.402 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.259
|
3.024 |
4.177 |
|
|
Sundry Debtors |
14.025
|
11.113 |
1.130 |
|
|
Cash & Bank Balances |
28.039
|
23.314 |
0.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
27.828 |
|
|
Loans ,Advances and Deposits |
52.214
|
51.403 |
13.878 |
|
Total
Current Assets |
104.537
|
88.854 |
47.013 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.409
|
7.957 |
1.732 |
|
|
Other Current Liabilities |
33.638
|
24.965 |
9.761 |
|
|
Provisions |
6.049
|
6.559 |
3.058 |
|
Total
Current Liabilities |
50.096
|
39.481 |
14.551 |
|
|
Net Current Assets |
54.441
|
49.373 |
32.462 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
114.694 |
109.146 |
90.864 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
105.491 |
132.512 |
|
|
|
|
Other Income |
2.974 |
3.959 |
|
|
|
|
TOTAL (A) |
108.465 |
136.471 |
82.120 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease In Stock |
(7.409) |
2.087 |
|
|
|
|
Raw Material Consumed |
54.698 |
61.970 |
|
|
|
|
Construction and Job Works Cost |
18.597 |
30.199 |
72.274 |
|
|
|
Employee Cost |
7.501 |
7.065 |
|
|
|
|
Administrative and Other Expenses |
12.590 |
14.736 |
|
|
|
|
Prior Period Items |
0.037 |
0.000 |
|
|
|
|
TOTAL (B) |
86.014 |
116.057 |
72.274 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.451 |
20.414 |
9.846 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
2.497 |
1.248 |
0.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.954 |
19.166 |
9.403 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.785 |
1.411 |
1.331 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.169 |
17.755 |
8.072 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
6.144 |
6.558 |
2.539 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
12.025 |
11.197 |
5.533 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
59.737 |
48.540 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
71.762 |
59.737 |
5.533 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.77 |
17.47 |
8.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.08
|
8.20 |
6.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.22
|
13.40 |
9.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.03
|
11.94 |
7.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.17 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.47
|
0.46 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
2.25 |
3.23 |
LOCAL AGENCY FURTHER INFORMATION
Contingent
Liabilities: Rs.16.979 Millions
FORM 8
|
Corporate
identity number of the company |
U99999MH1994PTC081665 |
|
Name of the
company |
INDAGE
DEVELOPMENT CONSTRUCTION PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D – 107, T.T.C. Industrial Area, Shirvane, Post- Nerul, Navi Mumbai –
400706, Maharashtra Email Id : idc@indagegroup.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Abhyudaya
Co-operative Bank Limited, Administrative Office, K.K. Tower, Abhyudaya Bank
Lane, G.D. Ambekar Marg, Parel Village, Mumbai – 400012, Maharashtra, India Email Id : m.g.kalelkar.associated@gmail.com |
|
Nature of
instrument creating charge |
No instrument was
executed. However, the equitable mortgage has been created, by way of deposit
of title deeds, over the immovable property |
|
Date of
instrument Creating the charge |
15.06.2010 |
|
Amount secured by
the charge |
Rs.7.500 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As may be
decided, from time to time, by the Bank Terms of repayment Nil Margin As may be
decided, from time to time, by the Bank Extent and operation of the charge To secure the due
repayment of Term Loan of Rs.7.500 Millions, together with interest,
additional interest, liquidated damages, compound interest, commitment
charges, costs, charges and expenses thereon, granted by the Bank to the
Company Other NIL |
|
Short particulars
of the property charged (Including location of the property) |
Office/Commercial
Unit No.1102 on 11th Floor, adm.698.55 sq. ft. carpet in project
“The Affairs” on Plot No.9, Sector 17, Sanpada, Navi Mumbai, Taluka and
Regist. Sub- Dist and Dist. Thane |
FIXED ASSETS
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Tools
·
Vehicles
·
Land
·
Office Premises
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.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.