MIRA
INFORM REPORT
|
Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAHAVIR SYSPOWER PRIVATE LIMITED |
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Registered
Office : |
Office No. 104, Sahakar Niwas, Plot No. 160/161, Road No. 2,
Jawahar Nagar, Goregaon (West), Mumbai – 400062, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
26.07.1999 |
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Com. Reg. No.: |
11-120992 |
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Capital Investment
/ Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification
No.] |
U72501MH1999PTC120992 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Electrical Equipments, APC Brand of UPS Systems. |
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No. of Employees
: |
85 (Approximately) |
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 230000 |
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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.
INDIAN ECONOMIC OVERVIEW
|
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. Mansi Giri |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40991106 |
|
Date : |
08.12.2012 |
LOCATIONS
|
Registered Office : |
Office No. 104, Sahakar Niwas, Plot No. 160/161, Road No.
2, Jawahar Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India |
|
Tel. No.: |
91-22-28746824 / 28711233 |
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Fax No.: |
91-22-28786814 |
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E-Mail : |
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Website : |
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Area : |
1000 sq.fts |
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Location : |
Owned |
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Warehouse : |
206, Build No. 2, Sector No. 3, Millennium Business Par, Navi Mumbai,
Mumbai-400701, |
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Tel. No.: |
91-22-27781077/ 27780116 |
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E-Mail : |
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Branch Office : |
Located at:- ·
Pune ·
·
·
Ahmedabad ·
New Mumbai |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Pranav Bhupendra Shah |
|
Designation : |
Director |
|
Address : |
14-C, Kaveri Mahima Co-operative Housing Society, Bangur Nagar,
Goregaonb West, Mumbai-400090, Maharashtra, India |
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Date of Birth/Age : |
10.03.1974 |
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Date of Appointment : |
26.07.1999 |
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DIN No.: |
02400600 |
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Name : |
Mr. Yogesh Navichandra Shah |
|
Designation : |
Director |
|
Address : |
22, Bhupendra Niwas, Jitendra Nagar, Malad East, Mumbai-400097, |
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Date of Birth/Age : |
01.03.1970 |
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Date of Appointment : |
26.07.1999 |
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DIN No.: |
00803005 |
KEY EXECUTIVES
|
Name : |
Ms. Mansi Giri |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pranav B Shah |
|
39000 |
|
Yogesh N Shah |
|
39000 |
|
Yogesh N Shah (HUF) |
|
200000 |
|
Minal Y Shah |
|
261000 |
|
Pranav B Shah (HUF) |
|
200000 |
|
Vaishali P Shah |
|
261000 |
|
Total |
|
1000000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electrical Equipments, APC Brand of UPS Systems. |
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Products : |
·
Boimetric Systems ·
GPs ·
Rf ·
Server ·
Voltage Regular ·
·
Cctv ·
Investors ·
Rfid ·
Servo Stabilizer ·
·
Gprs ·
Rack ·
Securties Systems ·
UPS |
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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 : |
Retailers |
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No. of Employees : |
85 (Approximately) |
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Bankers : |
· Bank of Baroda, Branch Goregaon (West), Mumbai, Maharashtra, India · ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India · HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013,Maharashtra, India · Deutsche Bank, Khar (West), Mumbai, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Parekh Shah and Lodha Chartered Accountants |
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Address : |
215, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri
(west), Mumbai-400053, Maharashtra, India |
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PAN. No.: |
AAHFP3202E |
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Sister Concern : |
·
Mahavir Electronic Systems, Goregaon ·
Mahavir Global Services (Division of Mahavir
Syspower Private Limited) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
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|
a) A reconciliation of the number of shares outstanding at the beginning and at the end of the accounting year is set out below:
|
Particulars |
Figures as at 31 March 2012 |
|
Equity Shares: |
No. of shares |
|
Equity shares at the beginning of the year |
16,000 |
|
Add: shares issued during the year |
9,84,000 |
|
Equity shares at
the end of the year |
10,00,000 |
b) There are No rights, preference and restriction attaching to each class of shares including restriction on the distribution of divided and the repayment of capital.
c) There are nil number of shares in respect of each class In the company held by its holding company or its ultimate holding company including shares held by or by subsidiary or associates of the holding company or the ultimate holding company in aggregate.
d) Shares in the company held by each shareholder holding more than 5% shares, as on 31.03.2012:
|
Sr. No |
Name of the
Shareholder |
No. of shares |
Percentage (%) |
|
1 |
Mr. Yogesh N. Shah - HUF |
2,00,000 |
20.00% |
|
2 |
Ms. Minal Y. Shah ( |
2,61,000 |
26.10% |
|
3 |
Mr. Pranav N. Shah – HUF |
2,00,000 |
20.00% |
|
4 |
Ms. Vaishali P. Shah |
2,61,000 |
26.10% |
|
5 |
Mr. Yogesh N. Shah |
39.000 |
3.90% |
|
6 |
Mr. Pranav N. Shah |
39,000 |
3.90% |
|
|
|
10,00,000 |
100.00% |
e) There are nil number of shares reserved for issue under option and contracts / commitment for the sale of shares/disinvestment including the terms and amounts
f) For the period of five years immediately preceding the date as at which the balance sheet is prepared
|
Particulars |
No. of Equity Share |
|
Aggregate number and class of shares allotted as fully paid-up pursuant to contract(s) without payment being received In cash |
Nil |
|
Aggregate number and class of shares allotted as fully paid-up by way of bonus shares. |
Nil |
|
Aggregate number
and class of shares bought back |
Nil |
g) There are no securities issued which are convertible into equity/preference shares.
h) There are no calls unpaid including calls unpaid by Directors and Officers as on balance sheet date
i) There is no forfeiture of the shares of any class during the Financial Year.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
10.000 |
0.160 |
0.160 |
|
|
2] Share Application Money |
0.000 |
18.539 |
12.350 |
|
|
3] Reserves & Surplus |
49.435 |
34.875 |
26.115 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
59.435 |
53.574 |
38.625 |
|
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LOAN FUNDS |
|
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|
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|
1] Secured Loans |
22.313 |
6.291 |
12.923 |
|
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2] Unsecured Loans |
5.694 |
11.827 |
14.745 |
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TOTAL BORROWING |
28.007 |
18.118 |
27.668 |
|
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DEFERRED TAX LIABILITIES |
0.581 |
0.249 |
0.000 |
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TOTAL |
88.023 |
71.941 |
66.293 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
31.863 |
11.010 |
11.095 |
|
|
Capital work-in-progress |
0.000 |
14.114 |
0.000 |
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INVESTMENT |
2.945 |
2.000 |
2.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.008 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
49.267
|
41.185 |
25.095
|
|
|
Sundry Debtors |
61.307
|
58.381 |
45.345
|
|
|
Cash & Bank Balances |
5.791
|
7.167 |
22.465
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
5.571
|
6.678 |
14.446
|
|
Total
Current Assets |
121.936
|
113.411 |
107.351 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
59.562
|
58.362 |
41.758
|
|
|
Other Current Liabilities |
1.214
|
6.085 |
0.797
|
|
|
Provisions |
7.945
|
4.147 |
11.606
|
|
Total
Current Liabilities |
68.721
|
68.594 |
54.161 |
|
|
Net Current Assets |
53.215
|
44.817 |
53.190
|
|
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
88.023 |
71.941 |
66.293 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
311.426 |
289.469 |
212.290 |
|
|
|
Other Income |
2.229 |
1.695 |
1.636 |
|
|
|
TOTAL |
313.655 |
291.164 |
213.926 |
|
|
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|
|
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Less |
EXPENSES |
|
|
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|
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|
|
Administrative Expenses |
300.656 |
278.358 |
203.374 |
|
|
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Advertising Expenses |
|
|
|
|
|
|
TOTAL |
300.656 |
278.358 |
203.374 |
|
|
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|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.999 |
12.806 |
10.552 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.402 |
0.955 |
0.859 |
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
11.597 |
11.851 |
9.693 |
|
|
|
|
|
|
|
|
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|
TAX |
4.205 |
3.073 |
2.828 |
|
|
|
|
|
|
|
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|
|
PROFIT AFTER TAX |
7.373 |
8.778 |
6.865 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
31.934 |
23.175 |
16.310 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1.100 |
0.016 |
0.000 |
|
|
|
Tax on Dividend Distribution |
0.183 |
0.003 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
38.024 |
31.934 |
23.175 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.37 |
548.63 |
NA |
|
Expected Sales (2012-13) : Rs.350.000 Millions
The above information has been parted by Ms. Mansi Giri
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.35
|
3.01 |
3.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.72
|
4.09 |
4.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.54
|
9.52 |
8.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.22 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.63
|
1.62 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77
|
1.65 |
1.98 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditor for Goods and Services |
58.453 |
|
41.758 |
|
Sundry Creditor for Others |
1.109 |
1.410 |
|
|
Total |
59.562 |
58.362 |
41.758 |
|
Sr. No. |
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) |
No |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from 4/34, Siddharth
Nagar No. 5, Road No. 2, Near Prabhodhan Sports Complex, Goregaon (West), Mumbai
- 400104, Maharashtra, India to Office
No. 104, Sahakar Niwas, Plot No. 161/161, Road No. 2, Jawahar Nagar, Goregaon
(West), Mumbai – 400062, Maharashtra, India w.e.f. 01.02.2012. The registered
office of the company has been against shifted from Office No. 104, Sahakar Niwas, Plot No. 161/161, Road No. 2, Jawahar
Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India to present
address w.e.f. 01.02.2012
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U72501MH1999PTC120992 |
|
Name of the
company |
MAHAVIR SYSPOWER
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No. 104, Sahakar
Niwas, Plot No. 160/161, Road No. 2, Jawahar Nagar, Goregaon (West), Mumbai –
400062, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013,Maharashtra, India |
|
Nature of instrument
creating charge |
Memorandum
Recording Past Transactions of Creation of Mortgage by Delivery of Title
Deeds. |
|
Date of
instrument Creating the charge |
27.03.2012 |
|
Amount secured by
the charge |
Rs.18.200
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment On demand. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The Company
created an equitable mortgage by way of deposit of title deeds in respect of
its immovable properties as stated under item No.15 as security for the due
repayment of Rs.18.200 Millions by the Company including principal amount of
the Facility, interest, liquidated damages, costs, charges and expenses etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Unit No 6, Building
No.6, Millenium Business Park Plot No MBP/2, Sector No.3, Trans Thane Creek
Industrial Area, Mahape, Navi Mumbai-410 001. Unit No.207,
Building No 2, on 2nd floor, Millenium Business Park, Plot No MBP /2, Sector
No.3, Trans Thane Creek, Industrial Area, Mahape Navi, Mumbai-410 001. |
FIXED ASSETS:
· Air Condition
· Computer and Software
· Furniture and Fixtures
· Matrix EPABX System
· Office Equipments
· Office Premises at Ahmedabad
· Printers
· Telephone and Mobile Phone
· Vehicles
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.54.20 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
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.