MIRA
INFORM REPORT
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Report Date : |
04.08.2011 |
IDENTIFICATION DETAILS
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Name : |
CARE OFFICE EQUIPMENT LIMITED (w.e.f. 08.07.2010) |
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Formerly Known As : |
CARE OFFICE EQUIPMENT PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2011 (Provisional) |
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Date of Incorporation : |
31-08-1998 |
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Com. Reg. No.: |
04-034605 |
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Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
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CIN No.: [Company
Identification No.] |
U24110GJ1998PTC034605 |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business : |
Trader of office
automation products |
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No. of Employees : |
250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 510000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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.
INFORMATION PARTED BY
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Name : |
Mr. Dharani Patel |
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Designation : |
Accounts Head |
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Date : |
25.07.2011 |
LOCATIONS
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Registered
Office : |
Celler Vraj Vihar
Tower Opposite Aryavrata Bungalows, B/H Prerna-Tirth Bungalows, Jodhpur Gam
Road, Satellite Ahmedabad-380015, Gujarat, India. |
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Tel. No.: |
91-79-26924821-25
/ 40013000 |
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Fax No.: |
91-79-26924825 /26421253
/26923019 /40013096 |
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E-Mail : |
reshma@careoffice.in
sales@careoffice.in
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Websites: |
http://www.careoffice.in
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Area : |
20000 sq.fts
(Rented) |
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Showroom 1: |
4 and 5 Ground
Floor, Fairdeal House, Near Swastik Cross Roads, C. G. Road, Ahmadabad - 380
009, Gujarat, India |
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Tel. No.: |
91-79-26421251/2/26527176/26560204 |
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Fax No.: |
91-79-26560204 |
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Area : |
2000 Sq. fts.
(Rented) |
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Showroom 2: |
8 GF, Ground
Floor and Basement, Opposite Gurudwara, |
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Area : |
5000 Sq. ft.
(Owned) |
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Showroom 3: |
GF, 19, Windsor Plaza, R. C. Dutt Road, Alkapuri, Baroda -
390 007. |
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Showroom 4 : |
39/1, Mahagujarat Industrial Estate, Moje - Changodar,
Village : Moraiya Tal : Sanand, Dist. : Ahmadabad. |
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Exclusive Dell
Showrooms 1 : |
6 and 7, GF and Basement, Fairdeal House, Nr. Swastik Cross
Road, C. G. Road, Ahmedabad 380 009. |
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Exclusive Dell
Showrooms 2 : |
5 and 6, Gokulesh Complex, Sampat Rao Colony, R. C. Dutt
Road, Alkapuri, Baroda - 390 007. |
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Exclusive Dell
Showrooms 3 : |
No. 1, Upper Ground Floor, Jivan Deep Building, Near
Nirmal Hospital, Opp. Sub Jail, Ring Road, Surat - 395 002. |
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Other Godowns
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·
4,5, Landmark, Mithakhali Six Road, Navrangpura, Ahmadabad. ·
5, N. K. Patel Estate No. 2, Sarkhej Bavla Road, Moje Fatehwadi,
Taluka Daskoi, Dist. Ahmadabad. ·
GF 2, 3, 4 & Celler Vraj Vihar Tower, Jodhpur Gam Road, Ahmadabad, ·
Basement Zodiac Square, Opp : Gurudwara, S. G. Road, Ahmadabad. |
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Authorized
Service Center : |
Care Info
Solutions Private Limited GF and Basement, Shubh Complex, Behind Sheth Opticals, Nr.
Swastik Cross Road, Ahmadabad 380 009. |
DIRECTORS
As on : 30.09.2010
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Name : |
Mr. Hemant Shantilal Shah |
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Designation : |
Managing Director |
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Address : |
302, Shyamal Apartment, Suvidha Shopping Centre, Paldi, Ahmedabad
380007, |
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Date of Birth/Age : |
12.02.1968 |
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PAN No.: |
ACZPS4370F |
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Date of Appointment : |
31.08.1998 |
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Name : |
Mr. Kamlesh Dhirajlal Shah |
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Designation : |
Director |
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Address : |
502, Kailashiddhi Apartment, |
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Date of Birth/Age : |
08.03.1960 |
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PAN No. : |
AAKPS78870D |
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Date of Appointment : |
31.08.1998 |
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Name : |
Mr. Firoz Pirbhai Sama |
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Designation : |
Director |
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Address : |
402, |
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Date of Birth/Age : |
01.06.1959 |
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PAN No. : |
ADEP80725C |
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Date of Appointment : |
05.09.1998 |
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Name : |
Mr. Mayur Kanhiyalal Shah |
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Designation : |
Director |
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Address : |
A-35, Kirtisagar Apartments, |
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Date of Birth/Age : |
27.07.1975 |
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Date of
Appointment : |
30.09.1999 |
KEY EXECUTIVES
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Name : |
Mr. Dharani Patel |
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Designation : |
Accounts Head |
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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Aayushi Shah (Minor) |
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28000 |
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Arvind Raval – HUF |
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10 |
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Arvind S. Shah |
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22510 |
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Arvind Shah |
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10500 |
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Atik Firoz Sama |
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74600 |
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Bhartiben K. Shah |
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88079 |
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Bina Shah |
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40260 |
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Deepak Raval |
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10 |
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Deepak Raval HUF |
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10 |
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Firoz Sama |
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84432 |
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Gaurang Dave |
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22500 |
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Gunjali Desai |
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50260 |
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Hemant Shantilal Shah |
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674132 |
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Hina Hemant Shah |
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175946 |
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J.P. Purohit |
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30 |
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Jitesh Desai |
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58310 |
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K. R. Baxi |
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75480 |
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Kamlesh D. Shah |
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114280 |
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AS ON 30.09.2010
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Equity share
breakup |
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Category |
Percentage |
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Directors or relatives of directors |
75.40 |
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Others |
24.60 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of office
automation products |
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Products : |
Services of
Auction Software |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Dealers |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
Note: ·
The CC Limit of BOI is secured by hypothecation of
stock and book debts of the company it is also guaranteed by the personal
guarantee of some of the directors ·
CC Limit is further secured by collateral
security of following properties provided by the company. ·
8, Zodiac Sqaue, Opposite : Gurudwara, S.G.
Highway, Ahmadabad, Provided by Director
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Shop No. 4 and 5 situated at land mark building,
Navrangpura, Ahmedabad ·
G.F. and Basement Shubh Complex Swastik Cross
Road, Ahmadabad ·
C 74, Kirtisagar Apartment, Jodhpur Gam Road,
Satellite, Ahmadabad
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Prakash Bhavsar and Associates Chartered Accountants |
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Address : |
A – 106, Oxford Avenue, Opposite C. U. Shah College Income Tax,
Ahmedabad 380014, Gujarat, India |
CAPITAL STRUCTURE
AS ON 31.03.2011
(PROVISIONAL)
Authorised Capital : Rs. 30.000 Millions
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2203610 |
Equity Share |
Rs.10/- Each |
Rs.22.036
Millions |
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Share Application Money |
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Rs. 7.964
Millions |
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Total |
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Rs. 30.000 Millions |
NOTE:
Out of which 0.700 millions equity shares of
Rs. 10/-each, is issued as fully paid up bonus shares by way of utilization of
profit and loss a/c in financial year 2006-07
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.000 |
22.036 |
17.743 |
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2] Share Application Money |
0.000 |
0.000 |
0.993 |
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3] Reserves & Surplus |
98.201 |
77.691 |
57.297 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
128.201 |
99.727 |
76.033 |
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LOAN FUNDS |
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1] Secured Loans |
354.711 |
238.794 |
208.335 |
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2] Unsecured Loans |
46.154 |
32.594 |
8.885 |
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TOTAL BORROWING |
400.865 |
271.388 |
217.220 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
529.066 |
371.115 |
293.253 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
38.623 |
33.464 |
30.018 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
428.790 |
332.016 |
264.525 |
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Sundry Debtors |
174.911 |
177.044 |
154.898 |
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Cash & Bank Balances |
15.445 |
3.953 |
3.087 |
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Other Current Assets |
11.213 |
11.674 |
10.854 |
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Loans & Advances |
9.964 |
8.395 |
11.244 |
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Total
Current Assets |
640.323 |
533.082 |
444.608 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.000 |
0.000 |
0.000 |
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Sundry Creditors |
124.059 |
175.976 |
176.213 |
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Provisions |
25.983 |
19.576 |
5.268 |
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Total
Current Liabilities |
150.051 |
195.552 |
181.481 |
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Net Current Assets |
490.272 |
337.530 |
263.127 |
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MISCELLANEOUS EXPENSES |
0.171 |
0.121 |
0.108 |
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TOTAL |
529.066 |
371.115 |
293.253 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
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SALES |
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Sales |
1675.266 |
1383.326 |
979.257 |
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Direct Income |
61.876 |
48.428 |
29.404 |
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Other Income |
0.312 |
0.139 |
0.142 |
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TOTAL (A) |
1737.454 |
1431.893 |
1008.803 |
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Less |
EXPENSES |
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Cost of Goods Sold |
1499.241 |
1271.860 |
901.072 |
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Direct Expenses |
44.541 |
6.565 |
5.515 |
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Sales, Administrative and Other Expenses |
114.313 |
83.095 |
56.515 |
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Preliminary Expenses W/off |
0.000 |
0.037 |
0.027 |
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TOTAL (B) |
1658.095 |
1361.557 |
963.129 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
79.359 |
70.336 |
45.674 |
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Less |
FINANCIAL
EXPENSES (D) |
40.944 |
33.378 |
24.169 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.415 |
36.958 |
21.505 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.864 |
4.559 |
4.535 |
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PROFIT BEFORE
TAX (E-F) (G) |
33.551 |
32.399 |
16.970 |
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Less |
TAX (I) |
13.000 |
10.025 |
4.385 |
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PROFIT AFTER TAX
(G-I) (J) |
20.551 |
22.374 |
12.585 |
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SHORT PROVISION
OF INCOME TAX OF EARLIER YEARS |
0.042 |
1.987 |
2.422 |
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EXCESS PROVISION
OF FBT OF EARLIER YEARS |
0.000 |
0.007 |
0.000 |
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NET PROFIT AFTER
TAX |
20.510 |
20.394 |
10.163 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.691 |
57.297 |
47.134 |
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BALANCE CARRIED
TO THE B/S |
98.201 |
77.691 |
57.297 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
27.500 |
Nil |
Nil |
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TOTAL EARNINGS |
27.500 |
Nil
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Nil
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Earnings Per
Share (Rs.) |
9.36 |
10.15 |
5.71 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
1.18 |
1.56 |
1.24
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Net Profit Margin (PBT/Sales) |
(%) |
2.00 |
2.34 |
1.72
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.94 |
5.71 |
3.75
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Return on Investment (ROI) (PBT/Networth) |
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0.26 |
0.32 |
0.22
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Debt Equity Ratio (Total Liability/Networth) |
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4.09 |
4.68 |
5.24
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Current Ratio (Current Asset/Current Liability) |
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4.25 |
2.72 |
2.45
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LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Provisional) (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
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For Goods |
113.029 |
166.813 |
167.940 |
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For Expenses |
6.707 |
4.046 |
3.587 |
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Advances from
customers |
4.332 |
5.117 |
4.688 |
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Total |
124.068 |
175.976 |
176.213 |
PERFORMANCE (AS ON
: 31.03.2010):
The directors are
pleased to report that during the short span of twelve year the company has achieved
turnover of Rs. 1380.000 millions and the company has achieved prominent
position in the office equipment products. The company has sustained growth
rate in the competitive environment of information technology and office
equipment products.
PROSPECT (AS ON : 31.03.2010):
The company
expects to perform satisfactory and achieve excellent growth in the years to
come. In the year to come the company will sustain higher rate and maintain
prominent position in IT and CE products business.
BRIEF
INTRODUCTION OF THE COMPANY :
Subject was incorporated in
the year 1998 by two dynamic visionaries, Mr. Hemant Shah and Mr. Kamlesh Shah.
Visualizing the growth in this field, together they dreamt to achieve an
ambition taller than the sky. Their vision, today leads CARE into a bright
future. Their dynamic leadership and gallant entrepreneurship gives strength to
the organization to look beyond the boundaries and achieve the un-achievable.
Initiated with business of copier and a turnover of few millions, it extended
into Office Equipment segment to become an undisputed leader of IT products in
Gujarat. Today, Care is a market leader dealing in all the reputed brands of IT
products, CE products, Copier products, Consumables, Accessories and Barcode
Solutions.
Care has successfully entered 14th year. Driven by a “Customer
Satisfaction - First” paradigm, they harness their knowledge, practices and
people with a disciplined execution to deliver nothing but the best.
PRODUCT PORTFOLIO:
Subject is a Dealer and a Leader for Office Equipment products, Software Products, Consumable products and Consumer Electronics goods like Computers, Laptops, Tablet PC, Printers, Copiers, Servers, Paper shredder Machines, LCDs, Projectors, Barcode Scanners and Printers, Digital, Cameras, Handicam, Digicam, Palmtops, Mobile Phones, Cartridges, Washing Machines, Air Conditioners, Refrigerators, Projectors, DVD Players, Music Systems, Accessories, CCTV camera and many more.
ALLIANCES:
Subject is provides leading edge solutions by partnering with other industry leading players. These players provide cutting edge products and technical support to enable solutions offered by subject to be World-Class and unparalleled. Their alliance partners enable us to provide their customer the winning solutions, CARE deals in renowned brands like DELL, HP, Sony, HCL, Samsung, Compaq, Acer, Lenovo, Xerox, Asus, Canofax, Canocare, LG, Canon, Kodak, Logitech, Sanyo, Panasonic, Hitachi, IFB, Toshiba, Microsoft, Nikon, Apple, Olympus, I-ball, Blackberry, and many more.
DEALER NETWORK:
At the core of their operations is a strong team of more than 1800 dealers across Gujarat with rich industry expertise that enables our business to function more efficiently, seamlessly and profitably.
BRAND CARE:
Their vision is to be reckoned as a leading player by providing value-added high quality product solutions to their clients, by combining best technology and a commitment to long-term client relationships. They continue to set higher standards of excellence by improving business processes significantly and delivering superior quality products and solutions. They thrive on challenges be it technology challenges, challenges from the competition or even from ourselves. The expectations they have set on ourselves are much more than development of products and services which in turn have resulted in building the brand subject as it stands today.
FORM : 8
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
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Charge identification
number of the modified |
10058196 |
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Corporate
identity number of the company |
U24110GJ1998PTC034605 |
|
Name of the
company |
CARE OFFICE
EQUIPMENT PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Celler Vraj Vihar
Tower Opposite Aryavrata Bungalows, B/H Prerna-Tirth Bungalows, Jodhpur Gam
Road, Satellite Ahmedabad-380015, Gujarat, India. |
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Type of charge |
Immovable property Any interest in immovable property |
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Number of charge
holder (s) |
1 |
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Particular of
charge holder |
Bank of |
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Email |
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Nature of
description of the instrument creating or modifying the charge |
Memorandum of rectification dated 26-03-2009 for rectification of errors in earlier executed memorandum of entry for extension of registered equitable mort ch in favour of Bank of India, ahd corporation banking branch, Ahmedabad to secure FB and NFB aggregate limit of Rs. 170.000 millions registered with joint sub registrar SRO - Ahmedabad - 3 |
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Date of
instrument Creating the charge |
23.06.2009 |
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Amount secured by
the charge |
Rs. 170.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cc stock - at BPLR
presently 12.50% p. A. On monthly rest basis or such other rate as may be
prescribed by the bank from time to time Cc book debt - at
BPLR presently 12.50% p. A. On monthly rest basis or such other rate as may
be prescribed by the bank from time to time Bank guarantee -
as per guidelines of bank LC (I/F) DA/ DP
90 days - as per guidelines of bank. Terms of
Repayment cc stock - on
demand / annual review cc book debt - on
demand / annual review bank guarantee -
on demand / annual review LC (I/F) DA/ DP 90
days - on demand / annual review Margin CC STOCK - 25% CC BOOK DEBTS -
40% BANK GUARANTEE -
10% LC (I/F) DA/ DP
90 DAYS - 10% Extent and
Operation of the charge First and
exclusive equitable mortgage charge on all the immovable prop of the co i. E.
Land and buildings, office premises and fixed plant and mach etc to secure FB
and NFB aggregate max limit of Rs. 170.000 millions along with Int, Addl Int,
penal int, cost, charges, liquidated
damages, penalty and commission and such other amt as may be due to the bank
from time to time of what so ever nature |
|
Short particulars
of the property charged |
Shop no.8 on
ground floor Adm 2132 sq. ft. i. e. 198.06 sq. Mtrs and at basement 9-a,
beneath shop no.9 at ground floor Adm 2019. sq ft. i. e. 187.57 sq Mtrs of
bldg zodiac square Rs 445, TPS no. 1/b (Bodakdev) FP 407, Mouje, Bodakdev, Ta
- Daskroi, district . Ahmedabad. Flat no. c/74,
Kirtisagar apt, const on a land Fp 79, Tps 4, Mouje Vejalpur, district
Ahmedabad. |
|
Date of latest
modification prior to the present modification |
13.02.2009 |
|
Particulars of
the present modification |
In the second
supplement MOE dated 13/02/2009 some details have accidentally and
inadvertently been wrongly written, date of Region were blank, some
typographical errors occurred in schedules and some prop details were left
out and now to rectify these errors, this memo of rectification is executed
and registered with sub registrar details |
FACT
SHEET :
|
Registration No. Registered with SSI Registration No. PAN No. Service Tax Registration No. TIN No. CST No. Professional Tax Enrollment No. Professional Tax Registration No. Provident Fund Registration No. ESI No. Shops and Establishment Reg. No. Import Export No. |
04-34605 of 1998-99 Registrar of Companies Gujarat, Dadra
& Nagar Haveli 04/01-45748 Dated January 30, 1999 AAA CC 8664 M AAA CC 8664 MST 001 24073800931 24573800931 PECO1651-768 PRC016510004 GJ/AHD/29601 37-26245/102 PIIEL - 9279 802001220 |
SALES HIGHLIGHTS :
·
CARE has recorded an
encouraging performance in 2010-11 with growth rate of 21% as compared to
previous year
·
They are heartily thankful
to all their dealers for the support they have extended by choosing CARE
products and services.
·
CARE has expanded its
reach within Gujarat in so many new potential geographic areas.
·
CARE's dealer reach
expanded to more than 2800 across India.
·
CARE's Product portfolio
increased to more than 13000 nos. supported by all available brands.
·
CARE has rigorously
carried promotional activities for product and brand awareness in every
segments of society.
·
They are heartily
thankful and salute our employees for their outstanding performance and
contribution in building CARE brick by brick to make it a strong enterprise.
·
They are heartily
thankful to all our dealers, suppliers, bankers, customers and all other
business associates for the growth we have achieved during the year.
fixed assets:-
· Computer
· Furniture and Fixtures
· Air Condition
· EPbX System
· Gas Purchase
· Scooter
· Aqua guard
· Fan
· Maruti Van
· Showroom Board
· Filing Machine
· Car
· Mobile
· Cycle
· Air Conditioner (Water Cooler)
· Electric Goods
· T V
· CD Drive
· Bike
· Building
· E-Bike
· Bike Yamaha Libero
· Hero Honda
· Plant and machinery
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. 44.37 |
|
|
1 |
Rs. 72.20 |
|
Euro |
1 |
Rs. 62.87 |
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 |
YES |
|
--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.