MIRA INFORM REPORT
|
Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAH COAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8/A Moiz Apartment, 12th |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.03.1997 |
|
|
|
|
Com. Reg. No.: |
11-106763 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH1997PTC106763 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS31298B MUMS24536B NGPS03589F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS9231R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of coal, coke and commission agent. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company is susceptible to risk related to the commodity – like market for its
products and to volatility in coal prices. However, trade relations are reported as fair. Business is active.
Payment terms are 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Loan Facility and Cash Credit = BB |
|
Rating Explanation |
Moderate risk of Default |
|
Date |
31.10.2011 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
31.10.2011 |
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 DECLINED BY
|
Name : |
Mr. Manaf |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9820556120 |
|
Date : |
22.12.2012 |
LOCATIONS
|
Registered Office : |
8/A Moiz Apartment, 12th |
|
Tel. No.: |
91-22-26124811/26101955/30922353 |
|
Mobile No.: |
9820556120 (Mr. Manaf) |
|
Fax No.: |
91-22-26182957 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
800 sq. ft. (Approximately) |
DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Purvi Vinay Shah |
|
Designation : |
Director |
|
Address : |
202, Dev Pooja, 2nd Floor, North Avenue, Santacruz West, Mumbai-400054, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1981 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.03.2011 |
|
DIN No.: |
00217649 |
|
|
|
|
Name : |
Mr. Manish P Mehta |
|
Designation : |
Director |
|
Address : |
530, 5th Floor, Shree Ambe Building, Wardhman Nagar, Opposite Radha Krishna Mandir, Nagpur – 440008, Maharashtra, India |
|
Date of Birth/Age : |
25.07.1971 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.03.2000 |
|
DIN No.: |
01942018 |
|
|
|
|
Name : |
Mr. Vinay Ramanlal Shah |
|
Designation : |
Director |
|
Address : |
201, Devpuja Building, North Avenve Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
29.02.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.03.1997 |
|
DIN No.: |
00217584 |
|
|
|
|
Name : |
Mr. Manaf Abdulkader Pancha |
|
Designation : |
Director |
|
Address : |
7, Gimar Building, 1st Floor, 63A, Chapel Lane Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
26.11.2001 |
|
DIN No.: |
00217489 |
|
|
|
|
Name : |
Mr. Ketan Ramanlal Shah |
|
Designation : |
Director |
|
Address : |
2/D-3, Ground Floor, Vapujya, Sarvodaya nagar, Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.03.1997 |
|
DIN No.: |
00217614 |
KEY EXECUTIVES
|
Name : |
Mr. Manaf |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Madhuben Ramanlal Shah |
|
13001 |
|
Parul Ketan Shah |
|
5000 |
|
Yogini Vinay Shah |
|
2500 |
|
Anjali Ramesh Shah |
|
4001 |
|
Neha Ramesh Shah |
|
4502 |
|
Ketan Ramanlal Shah HUF |
|
5000 |
|
Ramanlal K Shah HUF |
|
5000 |
|
Purvi Vinay Shah |
|
3501 |
|
Aditi Vinay Shah |
|
2505 |
|
Vinay Ramanlal Shah |
|
74990 |
|
Rohan Ketan Shah |
|
95000 |
|
Kunal Vinay Shah |
|
95000 |
|
Ketan Ramanlal Shah |
|
190000 |
|
Total |
|
500000 |
As on 30.09.2011
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 : |
Distributor of coal, coke and commission agent. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
15 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Canara Bank, Santacruz East Branch, Lovely House, Near Midland Hotel, Mumbai-400055,
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Bipin D Karani Chartered Accountant |
|
Address : |
14, Khandke Building No. 2, Patilwadi Marg, N.C. Kelkar Road, Dadar
West, Mumbai - 400028, Maharashtra, India |
|
PAN.: |
ABFPK6469B |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
72.373 |
40.955 |
40.207 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
77.373 |
45.955 |
45.207 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
36.867 |
7.837 |
12.982 |
|
|
2] Unsecured Loans |
104.272 |
122.381 |
99.318 |
|
|
TOTAL BORROWING |
141.139 |
130.218 |
112.300 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
218.512 |
176.173 |
157.507 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
24.000 |
14.878 |
13.395 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
87.130 |
40.237 |
47.695 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
153.050
|
1.780
|
41.163 |
|
|
Sundry Debtors |
61.658
|
22.916
|
20.035 |
|
|
Cash & Bank Balances |
66.494
|
27.281
|
20.250 |
|
|
Other Current Assets |
63.830
|
41.690
|
8.210 |
|
|
Loans & Advances |
148.097
|
51.716
|
38.487 |
|
Total
Current Assets |
493.129
|
145.383
|
128.145 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
261.178
|
20.006
|
29.671 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
124.569
|
4.319
|
2.057 |
|
Total
Current Liabilities |
385.747
|
24.325
|
31.728 |
|
|
Net Current Assets |
107.382
|
121.058
|
96.417 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
218.512 |
176.173 |
157.507 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
383.789 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1564.277 |
383.789 |
259.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1526.346 |
369.514 |
243.449 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1526.346 |
369.514 |
243.449 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
37.931 |
14.275 |
16.242 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
37.931 |
14.275 |
16.242 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
75.86 |
28.55 |
32.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.42
|
3.72
|
6.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.33
|
8.91
|
11.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49
|
0.31
|
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.80
|
3.36
|
3.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
5.97
|
4.04 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due others |
261.178
|
20.006
|
29.671 |
|
Total |
261.178
|
20.006
|
29.671 |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
Yes |
FINANCIAL REPORT:
The Turnover/other income of company was Rs.1564.277 millions and the
Net Profit for the year was Rs.37.931 millions.
FUTURE OUTLOOK:
Future prospectus of company is good.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51909MH1997PTC106763 |
|
Name of the
company |
SHAH COAL PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
8/A Moiz Apartment, 12th TPS Road, Santacruz East, Mumbai -
400055, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90242251 |
|
Type of charge |
|
|
Particular of
charge holder |
Canara Bank, Santacruz East Branch, Lovely House, Near Midland Hotel,
Mumbai-400055, |
|
Nature of
instrument creating charge |
Supplemental
Common hypothecation agreement dated 13.12.2010 |
|
Date of
instrument Creating the charge |
13.12.2010 |
|
Amount secured by
the charge |
Rs.202.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As specified by
the Bank from time to time. Terms of Repayment As stipulated by bank
from time to time. Margin 15 % and usance
180 days Extent and Operation of the charge The Bank shall
have first charge on all the assets secured. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock of Coal EMT of property at A 8, Miz Apartment, 12th TPS Road, Shuja Baug, Santacruz (East), Mumbai-400055. EMT of property at Office 301, III Floor, 27, MIDC Road No. 17, Andheri (East), Mumbai-400093 EMT of property at Office 302, III Floor, 27, MIDC Road No. 17, Andheri (East), Mumbai-400093 EMT of property at Office 401, IV Floor, 27, MIDC Road No. 17, Andheri (East), Mumbai-400093 EMT of property at Office 402, IV Floor, 27, MIDC Road No. 17, Andheri (East), Mumbai-400093 4 KDs, 2 Birla Sunlife Insurance Policies All the properties (ii to vii) not belonging to the Company |
|
Particulars of
the present modification |
By the present
modification the Bank has further enhanced/ modified the credit limits as
Follows:- Nature of Facility Modified/ Enchaced Limits (Rupees
in Millions) OD
2.500 FLC
50.000 FLC (ST) 150.000 Total 202.500 |
FIXED ASSETS:
- Car
- Computer
- Trucks
- Furniture
- Appliance and Equipments
- Motor Bikes
- Trucks
- Electrical Installation
- Borewell
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] 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.55.09 |
|
|
1 |
Rs.89.54 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.