MIRA
INFORM REPORT
|
Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
CORE JEWELLERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit Gj-4, SDF VII, Building Seepz, SEZ, Andheri (E), Mumbai-400096, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.11.1999 |
|
|
|
|
Com. Reg. No.: |
11-122665 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.42.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH1999PTC122665 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10175E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1946P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Jewellery. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 970000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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.
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 : |
Unit Gj-4, SDF VII, Seepz, Andheri (E), Mumbai-400096, |
|
Tel. No.: |
91-22- 40771000 |
|
Mobile No.: |
91-9819427042 (Mr.
Kamal Bhansali) |
|
Fax No.: |
91-22- 40771012 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Kamal Ratilal Bhansali |
|
Designation : |
Director |
|
Address : |
Prabha Rati Bunglow 1-A, Sett Minar Society Compound, |
|
Date of Birth/Age : |
31.03.1955 |
|
Date of Appointment : |
16.11.1999 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U36911MH1999PTC122665 |
CORE JEWELLERY PRIVATE LIMITED |
Director |
16-11-99 |
16-11-99 |
- |
Active |
NO |
|
2 |
U45200MH2006PTC165018 |
ZILLION INFRASTRUCTURE PRIVATE LIMITED |
Director |
29-09-06 |
29-09-06 |
- |
Active |
NO |
|
3 |
U74900MH2010PTC210604 |
NOESIS KNOWLEDGE SOLUTIONS PRIVATE LIMITED |
Director |
03-12-10 |
03-12-10 |
- |
Active |
NO |
|
Name : |
Mrs. Anita Kamal Bhansali |
|
Designation : |
Director |
|
Address : |
Prabha Rati Bunglow 1-A, Sett Minar Society Compound, |
|
Date of Birth/Age : |
06.11.1957 |
|
Date of Appointment : |
16.11.1999 |
|
Name : |
Mr. Vivek Shankar Jadhav |
|
Designation : |
Director |
|
Address : |
B/2, |
|
Date of Birth/Age : |
29.09.1963 |
|
Date of Appointment : |
07.04.2000 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U70100MH1981PTC025735 |
GEETA ESTATE AND HOLDING PVT LTD |
Director |
30-11-81 |
30-11-81 |
- |
Active |
NO |
|
2 |
U61200MH1999PLC119233 |
INDO ENERGY INTERNATIONAL LIMITED |
Director |
01-04-99 |
01-04-99 |
- |
Active |
NO |
|
3 |
U36911MH1999PTC122665 |
CORE JEWELLERY PRIVATE LIMITED |
Director |
07-04-00 |
07-04-00 |
- |
Active |
NO |
|
4 |
U30007MH2002PTC134986 |
ZEBRA NETWORKS PRIVATE LIMITED |
Director |
22-02-02 |
22-02-02 |
25-07-11 |
Active |
|
|
5 |
U15130MH2003PTC143765 |
INDO-ALLIED PROTEIN FOODS PRIVATE LIMITED |
Director |
31-12-03 |
31-12-03 |
- |
Active |
NO |
|
6 |
U45200MH2006PTC165018 |
ZILLION INFRASTRUCTURE PRIVATE LIMITED |
Director |
29-09-06 |
29-09-06 |
- |
Active |
NO |
|
7 |
U45200MH2005PTC157377 |
FLAGSHIP INFRASTRUCTURE PRIVATE LIMITED |
Director |
29-09-07 |
29-09-07 |
- |
Active |
NO |
|
8 |
U15520MH2006PTC162542 |
Indo Spirits Private Limited |
Director |
16-11-07 |
16-11-07 |
- |
Active |
|
|
9 |
U45400DL2007PTC170872 |
League Properties Private Limited |
Director |
29-11-07 |
29-11-07 |
- |
Active |
|
|
10 |
U15530MH2008PTC179416 |
Iris Wineries Private Limited |
Director |
25-02-08 |
25-02-08 |
- |
Active |
|
|
11 |
U45202MH2008PTC180356 |
SHIVALIK VENTURES PRIVATE LIMITED |
Director |
30-05-08 |
30-05-08 |
- |
Active |
NO |
|
12 |
U15421PN2007PLC130272 |
DAUND SUGAR LIMITED |
Director |
04-11-08 |
16-10-08 |
- |
Active |
NO |
|
13 |
U74999MH2008PTC187876 |
RIDHI SIDHI SHETKARI PRIVATE LIMITED |
Director |
31-10-08 |
31-10-08 |
- |
Active |
NO |
|
14 |
U45400MH2010PTC211530 |
RICHA |
Director |
28-12-10 |
28-12-10 |
01-04-11 |
Active |
NO |
|
15 |
U70100MH1999PTC118129 |
FINETONE REALTORS PRIVATE LIMITED |
Director |
06-06-11 |
06-06-11 |
- |
Active |
NO |
|
Name : |
Mr. Kalpesh Arun Sanghavi |
|
Designation : |
Director |
|
Address : |
95 E, |
|
|
|
|
Name : |
Mr. Vikas Chandulal Patel |
|
Designation : |
Directors |
|
Address : |
111, Khushnuma Apartment, 11th Floor, |
|
|
|
|
Name : |
Mr. Kunal Chetan Jhaveri |
|
Designation : |
Director |
|
Address : |
C/515, Sameer Apartment, 169, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kamal Ratilal Bhansali |
|
2481333 |
|
Anita Kamal Bhansali |
|
142918 |
|
Vivek Shankar Jadhav |
|
425000 |
|
Kamal Ratilal Bhansali Jointly with Kamal Ratilal Bhansali |
|
653750 |
|
Anita Kamal Bhansali Jointly with Kamal Ratilal Bhansali |
|
508750 |
|
Karishma Niral Mehta |
|
38249 |
|
|
|
|
|
Total |
|
4250000 |
Equity Share Breakup (Percentage of Total Equity)
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Jewellery. |
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Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
|
|
|
Actual
Production |
|
Jewellery |
|
|
|
60985.38 gms |
GENERAL INFORMATION
|
Bankers : |
State Bank of |
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||||||||||||||||||||||||||||||
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Facilities : |
Note: Packing credit, post shipment credit and overdraft facilities form
banks are secured against hypothecation of stocks of gold, diamonds, precious
stones, plant and machinery, furniture and fixtures, office equipments,
export bills, receivables, pari passu charge by way of equitable mortgage of
factory premises situated at GJ-4, and IT-12, 2nd Floor, SDF VII,
Seepz, Andheri (E), Mumbai and personal guarantee of three directors. |
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|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Suresh Surana and Associates Chartered Accountant |
|
Address : |
13th Floor, Bakhtawar, 229, Nariman Point, Mumbai-400021, |
|
Tel. No.: |
91-22-66515570 |
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Mobile No.: |
91-22-22875771 |
|
Fax No.: |
|
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4250000 |
Equity Shares |
Rs.10/- each |
Rs.42.500
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 |
42.500 |
42.500 |
42.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
7.700 |
|
|
3] Reserves & Surplus |
200.837 |
200.430 |
168.427 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
243.337 |
242.930 |
218.627 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
179.808 |
190.530 |
179.621 |
|
|
2] Unsecured Loans |
8.163 |
8.163 |
1.563 |
|
|
TOTAL BORROWING |
187.971 |
198.693 |
181.184 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.396 |
|
|
|
|
|
|
|
|
TOTAL |
431.308 |
441.623 |
400.207 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
39.868 |
46.565 |
50.174 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
2.096 |
2.119 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
148.753
|
149.707 |
160.938 |
|
|
Sundry Debtors |
391.359
|
432.262 |
356.123 |
|
|
Cash & Bank Balances |
6.396
|
4.943 |
3.686 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
36.104
|
28.387 |
28.957 |
|
Total
Current Assets |
582.612
|
615.299 |
549.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
177.211
|
206.611 |
|
|
|
Other Current Liabilities |
4.186
|
3.949 |
190.185 |
|
|
Provisions |
11.871
|
11.847 |
9.582 |
|
Total
Current Liabilities |
193.268
|
222.407 |
199.767 |
|
|
Net Current Assets |
389.344
|
392.892 |
349.937 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.047 |
0.096 |
|
|
|
|
|
|
|
|
TOTAL |
431.308 |
441.623 |
400.207 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
512.305 |
546.643 |
|
|
|
Other Income |
|
37.281 |
2.802 |
|
|
|
TOTAL (A) |
352.952 |
549.586 |
549.445 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed |
|
373.459 |
410.122 |
|
|
|
Employees remuneration and benefits |
|
23.422 |
30.762 |
|
|
|
Manufacturing expenses |
|
19.650 |
16.783 |
|
|
|
Administration and other expenses |
|
29.718 |
24.343 |
|
|
|
Increase / decrease in stocks |
|
26.523 |
(0.838) |
|
|
|
TOTAL (B) |
352.507 |
472.772 |
481.172 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
76.814 |
68.273 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
13.515 |
12.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
63.299 |
56.248 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
8.829 |
9.343 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.445 |
54.470 |
46.905 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.038 |
0.845 |
(0.184) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.407 |
53.625 |
47.089 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
200.430 |
117.109 |
70.020 |
|
|
|
|
|
|
|
|
|
Less |
Prior
Period Items |
0.000 |
(0.092) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
Adjustments in
accordance with translational provision in accounting standard (AS -15)
(Revised 2005) |
0.000 |
(2.214) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
200.837 |
168.428 |
117.109 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
344.502 |
463.954 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
141.708 |
184.356 |
NA |
|
|
|
Stores & Spares |
0.176 |
0.000 |
NA |
|
|
|
Capital Goods |
0.086 |
0.658 |
NA |
|
|
TOTAL IMPORTS |
141.97 |
185.014 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.10 |
12.62 |
11.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.12
|
9.76 |
8.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
10.63 |
8.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07
|
8.23 |
7.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.22 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.57
|
1.73 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.01
|
2.77 |
2.75 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90146146 |
|
Corporate
identity number of the company |
U36911MH1999PTC122665 |
|
Name of the
company |
CORE JEWELLERY
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit Gj-4, SDF VII, Seepz, SEZ, Andheri (E), Mumbai-400096, |
|
Type of charge |
Others
(Rectification of deed) |
|
Particular of
charge holder |
State Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Ratification of
deed of modification to third modification supplemental to working capital. Ratification of
deed of modification to third modification supplemental to Joint deed of hypothecation. |
|
Date of
instrument Creating the charge |
29.05.2010 |
|
Amount secured by
the charge |
Rs.210.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the sanctioned
letter. Terms of
Repayment Demand for bank. Margin As per the
sanctioned letter. Extent and
Operation of the charge As per the
sanctioned letter. Others All other terms
and conditions as per the sanctioned letter. |
|
Short particulars
of the property charged |
I)
Correction
in Third Supplemental Working Capital dated 21.11.2007 The following be added
on Page 2 as Clause (a) II)
"This
Agreement is and shall be Third supplemental to the working capital
consortium agreement dated 04.04.2003 for Rs. 80.000 Millions , First
Supplemental to the working capital consortium agreement dated III)
18.12.2003
for Rs. 120.000 Millions and Second Supplemental to working capital
consortium agreement dated 17.09.2004 for Rs. 185.000 Millions. IV)
THIS
DEED therefore witnesseth that said Third Supplemental to working capital
consortium agreement dated 21.11.2007 stands July modified as under. V)
1. In
VI)
2. In
VII)
3. In
VIII)
Save
as verified modified as aforesaid the said supplemental to working capital
consortium agreement dated 21.11.2007 shall remain in full force and effect. IX)
(Correction
in Third Supplemental Joint deed of hypothecation dated 21.11.2007) |
|
Particulars of
the present modification |
The Third
Supplemental Joint Deed of Hypothecation and Working Capital dated 21.11.2007
shall be rectified and corrected in the Point No. 15 manner viz. |
Fixed Assets:
- Factory Buildings
- Plant and Machinery
- Air Conditioners
- Weighing Scale
- Computers
- Electrical Fittings
- Equipments
- Furniture and Fixtures
- Tele Systems
- Vehicles
AS PER WEBSITE DETAILS:
PROFILE:
Introduction:
Founded in 1998 by our Chairman and CEO Mr. Kamal Bhansali of the Lucid Gems Group, Subject has established itself as a leader in the highly spirited and ever evolving jewellery industry. Leveraging over 30 years of experience in the diamond trade and over 10 years of experience in the manufacturing of jewellery gives them at Core, the sustainable competitive advantages needed to lead in a globalized industry.
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.47.46 |
|
|
1 |
Rs.74.95 |
|
Euro |
1 |
Rs.65.79 |
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 |
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 |
NO |
|
--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.