|
Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHORUKA LOGISTICS PRIVATE LIMITED (w.e.f. 21.11.2000) |
|
|
|
|
Formerly Known
as: |
BHORUKA TRANSPORTS PRIVATE LIMITED |
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|
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Registered
Office : |
84-B, 3rd Floor, Amba Bhavan, Broach Street, Mumbai –
400003, Maharashtra |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
17.10.1996 |
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|
|
|
Com. Reg. No.: |
103370 |
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Capital
Investment / Paid-up Capital : |
Rs.86.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090MH1996PTC103370 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20445F |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCB3165H |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Logistic and Transport Services |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 347004 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Sharma |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91.22-23484343 |
|
Date : |
20.04.2012 |
LOCATIONS
|
Registered Office : |
84-B, 3rd Floor, Amba Bhavan, Broach Street, Mumbai –
400003, Maharashtra, India |
|
Tel. No.: |
91-22-23484343 |
|
Fax No.: |
91-22-23444949 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
|
Regional Office: (Mumbai) |
City Booking and
Delivery 1: Address: Raichura Street, Godown 3, Opp. Devkripa Bldg, Mumbai-400 009, Maharashtra, India Tel No.: 91-2-56330577 Phone 91-22-56330577 City Booking and
Delivery 2 Address: Transit Godown 10, Opp. Onion Market, A.P.M.C, Vashi, Maharashtra, India Tel No.: 91-22-27664025 / 27659336 City Booking and
Delivery 3 Address: Mohan Mill Compound, Ghodbunder Road. Thane-400 607. Tel No.: 91-22-25322723 City Booking and
Delivery 4 Address: Satyanagar, 90 Feet Road, Sakinaka, Mumbai - 400 009 Tel No.: 91-22-28511994 Transhipment Address: Godown No.5, Khandagle Estate, Purna Village, Bhiwandi, Dist. Thane. Tel No.: 91-2522-270525 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rahul Agarwal |
|
Designation : |
Director |
|
Address : |
2023 Angam, 15-A, Peddar Road,
Mumbai 400026, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1973 |
|
Date of Appointment : |
17.10.1996 |
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|
|
|
Name : |
Mr. Kunal Agarwal |
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Designation : |
Director |
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Address : |
368/173 Sindh Society, Aundh, Pune 411007,
Maharashtra, India |
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Date of Birth/Age : |
24.02.1977 |
|
Date of Appointment : |
17.10.1996 |
|
|
|
|
Name : |
Ms. Sarika Agarwal |
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Designation : |
Director |
|
Address : |
202, Sangam15-A,Peddar Road,Gamdevi, Mumbai-
400026, Maharashtra, India |
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Date of Birth/Age : |
09.09.1976 |
|
Date of Appointment : |
01.01.2003 |
|
|
|
|
Name : |
Ms. Sunayna Agarwal |
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Designation : |
Director |
|
Address : |
368/173 Sindh Society, Aundh,
Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
20.01.1978 |
|
Date of Appointment : |
01.01.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Sharma |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rahul
Agarwal |
|
2967985 |
|
Subhash
Agarwal |
|
154088 |
|
Kunal
Agarwal |
|
2714417 |
|
Nirmaladevi
Agarwal |
|
146735 |
|
Sarika
agarwal |
|
378264 |
|
Rahul
Agarwal- HUF |
|
455015 |
|
Sunaina
Agarwal |
|
183496 |
|
Total |
|
7000000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistic and Transport Services |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Pharmaceutical Companies |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg,
Lower Parel W, Mumbai - 400013, Maharashtra, India |
||||||||||||
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||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
S A R A and Associates Chartered Accountant |
|
Address : |
1st Floor, Peekay Mansion, 470 JSS Road, Chira Bazar,
Mumbai – 400002, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1200.000 |
Expected Sales (2012-2013) : Rs.1500.000 Millions
The above information has been parted by Mr. Sharma (Accounts Manager)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
70.000 |
57.200 |
52.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.751 |
12.403 |
7.189 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
86.751 |
69.603 |
59.189 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
228.313 |
213.396 |
157.809 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
228.313 |
213.396 |
157.809 |
|
|
DEFERRED TAX LIABILITIES |
12.054 |
8.711 |
6.322 |
|
|
|
|
|
|
|
|
TOTAL |
327.118 |
291.710 |
223.320 |
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|
|
|
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|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
140.467 |
118.138 |
87.549 |
|
|
Capital work-in-progress |
0.000 |
8.771 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.603 |
0.103 |
0.072 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
250.719
|
206.065 |
144.629 |
|
|
Cash & Bank Balances |
1.824
|
0.738 |
0.442 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
20.480
|
23.186 |
41.660 |
|
Total
Current Assets |
273.023
|
229.989 |
186.731 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
72.406
|
53.132 |
37.486 |
|
|
Other Current Liabilities |
7.247
|
4.030 |
2.096 |
|
|
Provisions |
7.450
|
8.225 |
11.570 |
|
Total
Current Liabilities |
87.103
|
65.387 |
51.152 |
|
|
Net Current Assets |
185.920
|
164.602 |
135.579 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.128 |
0.096 |
0.120 |
|
|
|
|
|
|
|
|
TOTAL |
327.118 |
291.710 |
223.320 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1012.267 |
700.682 |
578.704 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
989.426 |
684.544 |
568.056 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
22.481 |
16.138 |
10.648 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.193 |
5.725 |
3.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
14.648 |
10.413 |
7.037 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.45
|
1.49 |
1.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.43
|
4.63 |
3.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.23 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.63
|
4.00 |
3.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.13
|
3.52 |
3.65 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
72.406
|
53.132 |
37.486 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
FORM 8:
|
Corporate identity number of the company |
U63090MH1996PTC103370 |
|
Name of the company |
BHORUKA LOGISTICS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
84-B, 3rd Floor, Amba Bhavan,
Broach Street, Mumbai- 400 003, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property |
|
Particular of charge holder |
HDFC Bank Limited |
|
Nature of instrument creating charge |
Agreement for Loan and Guarantee. (Contracts No.: 3420696 / 702 / 704 / 708) {(Rs.1950000/- X 2 Conts.) + (Rs.1500000/-
X 2 Conts.)} = Rs.6.900 Millions |
|
Date of instrument Creating the charge |
02.04.2012 |
|
Amount secured by the charge |
Rs.6.900 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Interest @ 10.00 % p.a. Terms of Repayment The Loan is repayable in 46 EMIs of
Rs.182700/- {(Rs.51633/- X 2 Conts.) + (Rs.39717/- X 2 Conts.)} starting from
15th May, 2012 ending on 15th February, 2016. Margin As may be stipulated by bank from time to time. Extent and Operation of the charge The Company hypothecates to and charges in
favour of the Bank by way of first and exclusive charge of the Vehicle/
equipment described in Item No. 15 as security for the repayment/payment by
the company of the loan granted or to be granted to the company by the Bank
together with all fees, interest,
costs and expenses incurred/to be incurred by the Bank and all other monies
payable or to become payable by the company to the Bank. Others The Bank shall be absolutely entitled and
have full power and authority to sell, assign or transfer in any manner, in
whole or in part, and in such manner and on such terms as the Bank may
decide, including reserving a right to the Bank to retain its power to
proceed against the company on behalf of the purchaser, assignee or
transferee, any or all outstanding dues of the company, to any third party of
the Bank's choice without reference to or without written intimation to the
company. |
|
Short particulars of the property charged |
Hypothecation of 4 Nos. Vehicles namely :
2 Nos. EICHER 35.31 (Year Of Manufacture: 2012) 2 Nos. EICHER 30.25 (Year Of Manufacture:
2012) |
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.51.99 |
|
|
1 |
Rs.83.53 |
|
Euro |
1 |
Rs.68.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.