MIRA INFORM REPORT
|
Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPUNPIPE AND CONSTRUCTION COMPANY BARODA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A/505-506, Alkapuri Arcde, 5th Floor, Opp. Hotel Welcome
Group, R.C.Dutt Road, Alkapuri, Baroda– 390007, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.04.1944 |
|
|
|
|
Com. Reg. No.: |
04-000350 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26959GJ1944PTC000350 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of rolling, blending, drilling and other kinds of
machines. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 840000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears some dip in the profitability of the company. However, Net worth
of the company is good. 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 condition. |
NOTES : 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
LOCATIONS
|
Registered Office : |
A/505-506, Alkapuri Arcde, 5th Floor, Opp. Hotel Welcome,
Vadodara-390007, Gujarat, India |
|
Tel. No.: |
91-265-2345722/91-265-2330310 |
|
Mobile No.: |
91-9825951069/91-9825029219 (Mr. Amit Talati) |
|
Fax No.: |
91-265-2330310 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.1&2, Sarvoday Sahkari Udhyog Nagar, At And Po. Dattpura,
Waghodia, Vadodara-390007,India |
|
Tel. No.: |
91-265-9228008198 (Mr. Ashok Vyas) |
|
Mobile No.: |
91-9825951069 |
|
Fax No.: |
Not Available |
DIRECTORS
AS ON 15.09.2012
|
Name : |
Mr. ArunKumar Vrajlal Talati |
|
Designation : |
Managing Director |
|
Address : |
403, Aryan Flat 25, Alkapuri, Society, Vadodara-390007, Gujarat, India |
|
Date of Birth/Age : |
17.06.44 |
|
Date of Appointment : |
20.04.1994 |
|
DIN No.: |
00107206 |
Other Directorship:
|
S.N.o |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U26959GJ1944PTC000350 |
SPUNPIPE
AND CONSTRUCTION COMPANY BARODA PVT LTD |
Managing
director |
20/04/1994 |
20/04/1994 |
Active |
NO |
|
Name : |
Mr. Amit ArunKumar Talati |
|
Designation : |
Whole-time Director |
|
Address : |
403, Aryan Flat 25, Alkapuri, Society, Vadodara-390007, Gujarat, India |
|
Date of Birth/Age : |
04.11.968 |
|
Date of Appointment : |
20.04.1994 |
|
DIN No.: |
00107348 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U26959GJ1944PTC000350 |
SPUNPIPE
AND CONSTRUCTION COMPANY BARODA PVT LTD |
Whole-time
director |
20/04/1994 |
20/04/1994 |
Active |
NO |
|
2 |
U15490GJ2011PTC064755 |
VARIDHI
HYGIENE PRODUCTS PRIVATE LIMITED |
Director |
04/04/2011 |
04/04/2011 |
Active |
NO |
|
Name : |
Mr. Udit ArunKumar Talati |
|
Designation : |
Whole-time Director |
|
Address : |
29, Vaikunth, NR. T.B Hospital, Goiri Road, Vadodara-390021, Gujarat,
India |
|
Date of Birth/Age : |
01.09.72 |
|
Date of Appointment : |
20.04.1994 |
|
DIN No.: |
00107501 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U26959GJ1944PTC000350 |
SPUNPIPE
AND CONSTRUCTION COMPANY BARODA PVT LTD |
Whole-time
director |
20/04/1994 |
20/04/1994 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2012
|
Names of Shareholders |
No. of Shares |
|
Talati V.M.Dwarkadas (HUF) |
650 |
|
Savitaben V. Talati |
2800 |
|
Arunkumar V. Talati |
4428 |
|
Talali A.V. Muljibhai (HUF) |
700 |
|
Devilalben A. Talali |
1300 |
|
Amit A. Talati |
8953 |
|
Talati A.A. Vrajlal (HUF) |
500 |
|
Radhika A. Talati |
100 |
|
Vedant A. Talati |
500 |
|
Udit A. Talati |
8773 |
|
Talati U.A. Vrajlal (HUF) |
400 |
|
Gauri U. Talati |
100 |
|
Dhruv Uditkumar Talati |
390 |
|
Shalin u. Talati |
390 |
|
Jayendra P. Dalal |
1 |
|
Kantaben Sarabhai Sheth |
2 |
|
Parshottamdas Motilal Dalal |
1 |
|
Somchand Chunilal Sheth |
1 |
|
Pranlal Lallubhai Shah |
1 |
|
Chandulal Chholalal Shah |
5 |
|
Uttamchand Manekchand Shah And Naradlal Panachand Vasa, |
5 |
|
TOTAL
|
30000 |
AS ON 15.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
99.91 |
|
Other top fifty shareholders |
0.09 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of rolling, blending, drilling and other kinds of
machines. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chandula M. Shah And Company Chartered Accountant |
|
Address : |
601, Samruddhi, Old Gujrat High Court, Near Sattar Taluka Society,
Ahmedabad-380014, Gujarat-Gj, India |
|
PAN No.: |
AAAFC6603M |
|
|
|
CAPITAL STRUCTURE
AS ON 15.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.100/- each |
Rs.3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.100/-
each |
Rs. 3.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.000 |
3.000 |
3.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
207.539 |
186.725 |
131.136 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
210.539 |
189.725 |
134.136 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.937 |
35.390 |
51.791 |
|
|
2] Unsecured Loans |
10.000 |
10.000 |
3.340 |
|
|
TOTAL BORROWING |
15.937 |
45.390 |
55.131 |
|
|
DEFERRED TAX LIABILITIES |
3.140 |
2.436 |
2.379 |
|
|
|
|
|
|
|
|
TOTAL |
229.616 |
237.551 |
191.646 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
46.961 |
49.099 |
44.832 |
|
|
Capital work-in-progress |
0.038 |
0.059 |
1.679 |
|
|
|
|
|
|
|
|
INVESTMENT |
19.403 |
77.358 |
31.122 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.128
|
69.761 |
111.516 |
|
|
Sundry Debtors |
17.945
|
28.633 |
11.641 |
|
|
Cash & Bank Balances |
65.684
|
11.803 |
19.787 |
|
|
Other Current Assets |
1.407
|
0.999 |
0.000 |
|
|
Loans & Advances |
69.366
|
42.618 |
35.073 |
|
Total
Current Assets |
230.530
|
153.814 |
178.017 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.556
|
10.404 |
12.495 |
|
|
Other Current Liabilities |
60.760
|
32.026 |
34.561 |
|
|
Provisions |
0.000
|
0.349 |
16.948 |
|
Total
Current Liabilities |
67.316
|
76.029 |
64.004 |
|
|
Net Current Assets |
163.214
|
77.785 |
114.013 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
229.616 |
237.551 |
191.646 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
381.854 |
350.276 |
283.104 |
|
|
|
Other Income |
7.237 |
10.168 |
NA |
|
|
|
TOTAL (A) |
389.091 |
360.444 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
200.868 |
144.526 |
|
|
|
|
Purchases of stock-in-Trade |
0.000 |
0.000 |
|
|
|
|
Changes in inventories of finished goods WIP and Stock-in-Trade |
(13.154) |
42.067 |
|
|
|
|
Employee benefits expense |
18.518 |
22.437 |
|
|
|
|
Other expense |
141.836 |
99.557 |
|
|
|
|
Profit from sale of land |
0.000 |
(32.326) |
|
|
|
|
TOTAL (B) |
348.068 |
276.261 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
41.023 |
84.183 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.834 |
3.846 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
37.189 |
80.337 |
6.820 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.373 |
5.828 |
5.502 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
30.816 |
74.509 |
1.318 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.003 |
18.571 |
4.386 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
20.813 |
55.938 |
22.433 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.082 |
2.493 |
3.411 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
17.500 |
57.000 |
23.000 |
|
|
|
Dividend |
0.000 |
0.350 |
0.351 |
|
|
BALANCE CARRIED
TO THE B/S |
4.395 |
1.081 |
2.493 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
693.77 |
1864.63 |
NA |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.34
|
15.51 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.07
|
21.27 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.10
|
36.71 |
0.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.39 |
1.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.31
|
0.40 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.42
|
2.02 |
2.78 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter’s background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
FIXED ASSETS
· Free-hold Land
· Building
· Plant & Machinery
· Moulds & Equipments
· Tools & Equipments
· Electrical Installation
· Furniture & Fixture
· Office Equipments
· Laboratory Equipment
· Computer
· Motor & Vehicle
· Cycles
· Movable Equipment
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.54.84 |
|
|
1 |
Rs.89.11 |
|
Euro |
1 |
Rs.72.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
PJAG |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.