MIRA
INFORM REPORT
|
Report Date : |
31.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
DALMIA CEMENT VENTURES LIMITED |
|
|
|
|
Registered
Office : |
11th Floor, Hansalaya, 15-Barakhamba Road, New Delhi –
110001, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
10.12.2007 |
|
|
|
|
Com. Reg. No.: |
55-171250 |
|
|
|
|
Paid-up Capital
: |
Rs. 1617.110 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U10300DL2007PLC171250 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD10192A |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer of Cement |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to commence business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in the year 2007, the company is
yet to commence its commercial business activities. However, trade relations
are reported as fair. Payments terms are unknown. Initially, the company can be considered for business dealings with
some caution. |
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/ Head Office : |
11th Floor, Hansalaya, 15-Barakhamba Road, New Delhi –
110001, Delhi, India |
|
Tel. No.: |
91-11-23310121 |
|
Fax No.: |
91-11-23313303 |
|
E-Mail : |
DIRECTORS
As On 24.09.2010
|
Name : |
Mr. Gautam Dalmia |
|
Designation : |
Director |
|
Address : |
1, Tees January Marg, New Delhi – 110011, Delhi, India |
|
Date of Birth/Age : |
14.01.1968 |
|
Date of Appointment : |
19.02.2008 |
|
DIN No.: |
00009758 |
|
|
|
|
Name : |
Mr. Kalambur Veeraraghavan Mohan |
|
Designation : |
Director |
|
Address : |
C-73 Sector 27, Gautam Budh Nagar, Noida - 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
29.01.1951 |
|
Date of Appointment : |
10.12.2007 |
|
DIN No.: |
00006842 |
|
|
|
|
Name : |
Mr. Puneet Yadu Dalmia |
|
Designation : |
Director |
|
Address : |
18, Gold Links, New Delhi – 110003, Delhi, India |
|
Date of Birth/Age : |
15.10.1972 |
|
Date of Appointment : |
19.02.2008 |
|
DIN No.: |
00022633 |
|
|
|
|
Name : |
Mr. Sanjay S. Mittra |
|
Designation : |
Director |
|
Address : |
B-1/610 Janakpuri, New Delhi – 110058, Delhi, India |
|
Date of Birth/Age : |
10.04.1961 |
|
Date of Appointment : |
10.12.2007 |
|
DIN No.: |
00416666 |
|
|
|
|
Name : |
Mr. Vaidyanathan Ramamurthy |
|
Designation : |
Director |
|
Address : |
226, Panduranga Nagar, Bannerghatta Road, Bangalore – 560076,
Karnataka, India |
|
Date of Birth/Age : |
21.12.1951 |
|
Date of Appointment : |
27.05.2009 |
|
DIN No.: |
00221577 |
|
|
|
|
Name : |
Mr. Prakash Bajirao Kulkarni |
|
Designation : |
Director |
|
Address : |
703 Usha Kunj, 30D Juhu Tara Road, Santacruz (West), Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
26.04.1942 |
|
Date of Appointment : |
04.02.2010 |
|
DIN No.: |
00016512 |
|
|
|
|
Name : |
Mr. Narender Mantri |
|
Designation : |
Manager |
|
Address : |
52, Tarun Vihar Plot No. 3, Sector 13, Rohini, New Delhi – 110085,
Delhi, India |
|
Date of Birth/Age : |
07.07.1966 |
|
Date of Appointment : |
25.05.2010 |
|
Pan No.: |
AGEPM0940M |
|
|
|
|
Name : |
Mr. Jai Hari Dalmia |
|
Designation : |
Additional Director |
|
Address : |
1, Tees January Marg, New Delhi – 110011, Delhi, India |
|
Date of Birth/Age : |
18.09.1944 |
|
Date of Appointment : |
20.10.2009 |
|
Date of cessation : |
24.05.2010 |
|
DIN No.: |
00009717 |
|
|
|
|
Name : |
Mr. Somnath A Patil |
|
Designation : |
Director |
|
Address : |
11th Floor, 1101 Marg Yashhowan T. H. Kataria Marg, Mahim,
Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
03.11.1956 |
|
Date of Appointment : |
05.03.2009 |
|
Date of cessation : |
29.01.2010 |
|
DIN No.: |
02006553 |
|
|
|
|
Name : |
Mr. Sanjay Omprakash Nayar |
|
Designation : |
Director |
|
Address : |
18D IL Palazzo, Little Gibbs Road, Malabar Hills, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
13.10.1960 |
|
Date of Appointment : |
24.09.2010 |
|
DIN No.: |
00002615 |
KEY EXECUTIVES
|
Name : |
Ms. Isha Gupta |
|
Designation : |
Company Secretary |
|
Address : |
U-1, Parvana Vihar, Sector – 9, Rohini, New Delhi – 110085, Delhi,
India |
|
Date of Birth/Age : |
10.01.1987 |
|
Date of Appointment : |
25.05.2010 |
|
Pan No.: |
AAOPI5074L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 24.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mohan V. K |
|
1 |
|
Kumar N. H |
|
1 |
|
Mittra S Sanjay |
|
1 |
|
Bansal K. A |
|
1 |
|
Bahl K. S |
|
1 |
|
Ghai K. R. |
|
1 |
|
Avnija Properties Limited – India |
|
161710994 |
|
Total |
|
161711000 |
As On 24.09.2010
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cement |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Yes Bank Limited – 9th Floor, Nehru
Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Note: The Term Loans are secured by first mortgage and charge on all the immoveable properties of the Company both present and future and first charge by way of hypothecation of all the Company’s movables including movable Plant and Machinery, Machinery spares, tools and accessories, fixtures, vehicles, mechanical and electrical equipments, mining machinery and all other movable assets, except book debts, present and future; subject to prior charges created and /or to be created on the Borrower’s stocks of raw materials, semi-finished and finished goods, consumable stores, book debts/receivables and such other movables as may be agreed to by the Senior Lenders and other current assets for securing the borrowings for working capital requirements, in the ordinary course of business. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute : |
·
IDBI Trusteeship Services Limited – Asian
Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400001,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
V. Sankar Aiyar and Company Chartered Accountant |
|
Address : |
Flat No. 202, 203 and 301, Satyam Cinema Complex, Ranjit Nagar
Community Centre, New Delhi – 110008, India |
|
Tel. No.: |
91-11-25702074/25702691/25704639/25705233 |
|
Telefax No.: |
91-11-25705232 |
|
Fax No.: |
91-11-25705010 |
|
E-Mail : |
|
|
Pan No.: |
AAAFV0781D |
|
|
|
|
Subsidiaries : |
· Golden Hills Resort Private Limited CIN: U55101RJ2003PTC018766 ·
Rajputana Properties Private Limited CIN: U45201RJ2008PTC025767 |
|
|
|
|
Ultimate Holding Company : |
·
Dalmai Cement (Bharat) Limited |
|
|
|
|
Holding Company : |
·
Avnija Properties Limited CIN: U65191TN1996PLC035963 |
|
|
|
|
Fellow Subsidiaries : |
· Ishita Properties Limited · Geetee Estates Limite · Hemshila Properties Limited · D.I. Properties Limited · Dalmia Sugar Ventures Limited · Himshikhar Investment Limited · Sri Swaminatha Mines and Minerals Limited · Arjuna Brokers and Minerals Limited · Shri Rangam Properties Limited · Dalmia Solar Power Limited (Formerly Shri Rangam Brokers and Holdings Limited) · Dalmia Minerals and Properties Limited · Shri Radha Krishna Brokers and Holdings Limited · Dalmia Power Limted (Formerly Seeta Estates and Brokers Limited · Sri Madhusudana Mines and Properties Limited · DCB Power Ventures Limited (Formerly Sri Madhava Minerals and Properties Limited) · Dalmia Bharat Enterprises Limited (Formerly Sri Kesava Mines and Minerals Limited) · Sri Shanmugha Mines and Minerals Limited · Sri Subramanya Mines and Minerals Limited · Sri Dhandauthapani Mines and Minerals Limited · Sri Trivikrama Mines and Properties Limited · Kanika Investment Limited, Cosmos Cements Limited · Sutnga Mines Private Limited. |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1073000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10730.000 Millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
161711000 |
Equity Shares |
Rs. 10/- each |
Rs. 1617.110
Millions |
|
|
|
|
|
Note :-
Of the above 16,10,48,250 Equity Shares of Rs.10/-each issued on 29.09.2009 by way of Bonus Shares by capitalising Share Premium Account.) (The entire subscribed capital is held by Avnija Properties Limited- the Holding Company and its nominees)
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 |
1617.110 |
6.628 |
2.032 |
|
|
2] Amount received against convertible warrants |
567.289 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.199 |
1528.410 |
404.415 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2191.598 |
1535.038 |
406.447 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
450.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
450.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2641.598 |
1535.038 |
406.447 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1266.773 |
1246.575 |
0.000 |
|
|
Capital work-in-progress |
1004.059 |
779.418 |
93.242 |
|
|
|
|
|
|
|
|
INVESTMENT |
572.057 |
52.763 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
27.257
|
352.829 |
323.598 |
|
|
Other Current Assets |
0.009
|
1.840 |
0.000 |
|
|
Loans & Advances |
50.924
|
28.480 |
0.000 |
|
Total
Current Assets |
78.190
|
383.149 |
323.598 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
246.664
|
308.816 |
0.000 |
|
|
Other Current Liabilities |
33.002
|
616.708 |
10.578 |
|
|
Provisions |
0.000
|
1.528 |
0.000 |
|
Total
Current Liabilities |
279.666
|
927.052 |
10.578 |
|
|
Net Current Assets |
(201.476)
|
(543.903) |
313.020 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.185 |
0.185 |
0.185 |
|
|
|
|
|
|
|
|
TOTAL |
2641.598 |
1535.038 |
406.447 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Interest on fixed deposits |
|
|
0.026 |
|
|
|
Profit on sale of current investments – non-trade |
|
|
1.895 |
|
|
|
TOTAL |
|
|
1.921 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Audit fees |
|
|
0.175 |
|
|
|
Director’s sitting fees |
|
|
0.100 |
|
|
|
Director’s travelling |
|
|
0.147 |
|
|
|
Filing fees |
|
|
0.008 |
|
|
|
Legal charges |
|
|
0.876 |
|
|
|
TOTAL |
|
|
1.306 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
0.615 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
0.021 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
0.021 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.09
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2365.38
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.05
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.33
|
0.60 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.28
|
0.41 |
30.59 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
Acquisition of land in the States of Karnataka continued during the year. The Company has been able to tie up the debt component of the finances required for setting up the projects contemplated by it. The Company has also entered into a Share Subscription Agreement with IDBI Bank Limited under which the said Bank has agreed to subscribe an amount of Rs. 1000.000 millions for the acquisition of shares in the Company at a premium of Rs. 5/- per share. A mandate has also been given to IDBI Bank for tying up the balance equity component required to meet the equity contribution for the projects.
Form 8:
|
Corporate identity number of the company |
U10300DL2007PLC171250 |
||||||
|
Name of the company |
DALMIA CEMENT VENTURES LIMITED |
||||||
|
Address of the registered office or of the
principal place of business in |
11th Floor, Hansalaya, 15-Barakhamba Road
New Delhi – 110001, Delhi, India |
||||||
|
This form is for |
Creation of charge |
||||||
|
Type of charge |
Movable Property Exclusive charge on assets procured by Yes Bank LC |
||||||
|
Particular of charge holder |
|
||||||
|
Nature of instrument creating charge |
30.06.2011 |
||||||
|
Date of instrument Creating the charge |
Rs. 1000.000 Millions |
||||||
|
Amount secured by the charge |
Deed of hypothecation dated 30.06.2011 executed
by the company (subject) in favour of
Yes Bank Limited to secure the credit
facilities amounting INR 1000.000
millions. |
||||||
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest - Buyers credit (BC) /
Letter of credit (LC) :Not applicable Terms of Repayment - Not applicable Extent and Operation of the charge - As
security for Facilities granted by the Lender, all the goods including
capital equipments imported/acquired under the Letters of Credit opened by
the Lender for and on behalf of the Borrower and all the receivables accruing
from the sale or disposal of the goods including capital equipments so
imported/ acquired more particularly Others - Pricing (for Buyers credit and
Letter of credit) : 0.75% per annum ( all inclusive) |
||||||
|
Particulars of the property charged |
As security for Facilities granted by the
Lender, all the goods including capital equipments imported/acquired under the
Letters of Credit opened by the Lender for and on behalf of the Borrower and
all the receivables accruing from the sale or disposal of the goods including
capital equipments so imported or acquired whether lying or stored in or
about or shall hereinafter from time to time during of the security of these
presents be brought into or upon or be stored or be in or about of the
Borrower factories or premises and godown situate anywhere and as the same
maybe or be held by any party to the order or disposition of the Borrower or
in the course of transit or on high seas or on order or delivery, howsoever
or wheresoever in the possession and/or control of the Borrower and and
either by way of substitution or addition. |
Fixed Assets:
·
Land (freehold)
·
Computers
·
Furniture and Fixtures
·
Equipment and appliances
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 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.46.02 |
|
|
1 |
Rs.75.43 |
|
Euro |
1 |
Rs.66.70 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
18 |
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.