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Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SAKET TEXFAB PRIVATE LIMITED |
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Registered
Office : |
4-A, |
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Country : |
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Date of
Incorporation : |
06.03.2012 |
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Com. Reg. No.: |
227705 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U17291MH2012PTC227705 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Yarn and Garments. |
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No. of Employees
: |
Not yet appoint |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company establishing itself gradually. The company
has not yet started its business activity. Payments are unknown. The company can be considered for business dealing on a safe and
secured trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Ansu Tiwari |
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Designation : |
Legal and Compliance Department |
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Contact No.: |
91-22-42766666 |
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Date : |
27.11.2012 |
LOCATIONS
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Registered Office : |
4-A, Vikas Center, 104, S. V. Road, Santacruz (West) Mumbai – 400054,
Maharashtra, India |
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Tel. No.: |
91-22-4276660 |
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Fax No.: |
91-22-2614196 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
G. No.236/1 and 236/2 At Post Thane, Tal. Shirpur, Dhule – 425405,
Maharashtra, India |
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Tel. No.: |
91-2563-272051 |
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Location : |
Owned |
DIRECTORS
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Name : |
Ms. Disha Patel |
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Designation : |
Director |
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Address : |
Samriddhi, 72 Nutan Laxmi Society, 9th Road, JVPD, Scheme,
Vile Parle (West), Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
12.08.1987 |
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Date of Appointment : |
06.03.2012 |
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DIN No.: |
00654587 |
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Other Directorship : |
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Name : |
Ms. Shobha Bhandari |
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Designation : |
Director |
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Address : |
Marwari Street, Shirpur – 425405, Maharashtra, India |
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Date of Birth/Age : |
13.10.1958 |
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Date of Appointment : |
06.03.2012 |
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DIN No.: |
01834318 |
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Other Directorship : |
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KEY EXECUTIVES
|
Name : |
Ms. Ansu Tiwari |
|
Designation : |
Legal and Compliance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 21.02.2012)
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Names of Shareholders |
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No. of Shares |
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Disha Patel |
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8000 |
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Shobha Bhandari |
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2000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Yarn and Garments. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
Not yet appoint |
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Bankers : |
· Dena Bank Limited Vile Parle (East) Branch, Krishna Bhavan 67, Vile Parle, Mumbai - 400057,
Maharashtra, India · HDFC Bank Bandra, Mumbai, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vijy M. Rathi and Company Chartered Accountant |
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Group Companies : |
· Krushn Cotex Private Limited · Yogi Cotex Private Limited · Omkra Texfab Private Limited · Dweta Garments Private Limited · Deesan Texfab Private Limited · Kilashnath Texfab Private Limited · Hrudeshwr Textile Private Limited · Someshwar Fabrics Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
The above information has been parted by Ms. Ansu Tiwari.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes
/ No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
No |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact person |
Yes |
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11] |
Turnover of firm for last three years |
No |
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12] |
Profitability for last three years |
No |
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13] |
Reasons for variation <> 20% |
----- |
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14] |
Estimation for coming financial year |
No |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister concerns |
Yes |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details (if applicable) |
No |
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21] |
Market information |
----- |
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22] |
Litigations that the firm / promoter
involved in |
----- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
Yes |
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25] |
Conduct of the banking account |
----- |
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26] |
Buyer visit details |
----- |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if applicable |
Yes |
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29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
Yes |
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31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
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32] |
PAN of Proprietor/Partner/Director, if
available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U17291MH2012PTC227705 |
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Name of the
company |
SAKET TEXFAB
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
4A, Vikas Centre,
104, S. V. Road, Satacruz West, Mumbai – 400054, Maharashtra, India |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Dena Bank Vile Parle (East)
Branch, Krishna Bhavan, 67, Vile
Parle, Mumbai – 400057, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
Deed of simple
mortgage |
|
Date of
instrument Creating the charge |
27/09/2012 |
|
Amount secured by
the charge |
Rs.17.600
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 13.85% Terms of
Repayment 60 monthly
installments after moratorium period of 12 months Margin 15% Towards Plant
and Machineries, Stores and Spares and Misc Fixed Assets. Extent and
Operation of the charge As stipulated by
bank from time to time |
|
Short particulars
of the property charged |
First Charge
(Present and Future) on by registered mortgage deed of Plot No 1,3,4B,14A,
15A, 16B, 32A Survey Nos-9/1-1, 9/1-2, 9/1-3
situated at Shirpur BK, Shivar, Sharda Nagar, Shahada Road, Dhule First Charge
(Present and Future) on by registered mortgage deed on piece and parcel of
non agricultural land bearing Plot No.6,Gut/Survey No.167/1 situated at
Shirpur KD, Sandipani Colony, Dhule First Charge
(Present and Future) on by registered mortgage deed on piece and parcel of
non agricultural land bearing Plot No 26, Survey No.8/1+2 situated at Shirpur
KD, Sandipani Colony, Dhule First Charge
(Present and Future) on by registered mortgage deed of Industrial Gala No
15-L, 15-M situated at Laxmi Industrial Estate, Andheri West. First Charge
(Present and Future) on by registered mortgage deed of Industrial Gala No E-23 situated in Zero
Industrial Estate, Dadra, Silvas, Dadra and Nagar Haveli First
Hypothecation Charge (Present and Future) of
Plant and Machinery of the proposed unit First
Hypothecation Charge (Present and Future) on
Book Debts and entire current assets of the proposed unit Second Charge
(Present and Future) on by registered mortgage deed on piece ABD Parcel of
Land situated at Ghat No 31,32 at Shirpur, Dhule District |
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 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.55.20 |
|
|
1 |
Rs.88.38 |
|
Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
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.