|
Report Date : |
27.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
HARD COATS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D/2, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai –
400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.11.1990 |
|
|
|
|
Com. Reg. No.: |
11-058866 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.447 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1990PTC058866 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH08111F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH2882E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
Line of Business
: |
Manufactures of all types seals like pumps seals, shaft seals,
compressor shaft alignment, internal seals etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. 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.
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 : |
D/2, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai –
400053, Maharashtra |
|
Tel. No.: |
91-22-26316047 / 26719448 /26701850 |
|
Fax No.: |
91-22-26327768 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Ayyub Jalal Bhola |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Flat No. 1405/1406, Paramount chs, Sahakar Road, Jogeshwari (West),
Mumbai – 400102, Maharashtra, India |
|
Date of Birth/Age : |
17.03.1962 |
|
Date of Appointment : |
07.11.1990 |
|
DIN No.: |
00046790 |
|
|
|
|
Name : |
Mr. Mohammad Ayyub Bhola |
|
Designation : |
Director |
|
Address : |
1405/1406, Paramount chs, Sahakar Road, Bandivali Marg, Jogeshwari
(West), Mumbai – 400102, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1989 |
|
Date of Appointment : |
29/09/2009 |
|
DIN No.: |
02296846 |
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 |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U27200MH1990PTC058866 |
HARD COATS (INDIA) PRIVATE LIMITED |
Director |
29/09/2009 |
01/01/2009 |
- |
Active |
NO |
|
Name : |
Mr. Afsa Ayyub Bhola |
|
Designation : |
Director |
|
Address : |
1405/1406, Paramount chs, Sahakar Road, Bandivali Village, Jogeshwari
(West), Mumbai – 400102, Maharashtra, India |
|
Date of Birth/Age : |
30.11.1966 |
|
Date of Appointment : |
06/10/2009 |
|
DIN No.: |
02297353 |
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 |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U27200MH1990PTC058866 |
HARD COATS (INDIA) PRIVATE
LIMITED |
Director |
06/10/2009 |
01/01/2009 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ayyub Jalal Bhola |
2470 |
|
Afsa Ayyub Bhola Joint With Ayyub Jalal Bhola |
1450 |
|
Mohammad Ayyub Bhola |
550 |
|
|
|
|
TOTAL
|
4470 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures of all types seals like pumps seals, shaft seals,
compressor shaft alignment, internal seals etc. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
Bombay Mercantile, Mumbay, Maharashtra, India ·
Bank of India, Andheri (west), Branch, 28, S. V.
Road, Andheri (west), Mumbai – 400 058, Maharashtra, India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gosalia and Associates Chartered Accountant |
|
Address : |
A-102, Ganesh Krupa, Dattatray Rod, Santacruz West, Mumbai – 400054,
Maharashtra, India |
|
PAN No.: |
AACPG3622L |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4470 |
Equity Shares |
Rs.100/-
each |
Rs. 0.447
Millions |
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 |
|
|
|
|
|
1] Share Capital |
0.447 |
0.447 |
0.447 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
22.300 |
21.021 |
20.872 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.747 |
21.468 |
21.319 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
3.210 |
1.300 |
2.795 |
|
|
TOTAL BORROWING |
3.210 |
1.300 |
2.795 |
|
|
DEFERRED TAX LIABILITIES |
1.439 |
1.459 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.396 |
24.227 |
24.114 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.230 |
9.455 |
10.258 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.175 |
0.174 |
0.175 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.563
|
11.037 |
11.088 |
|
|
Sundry Debtors |
6.864
|
2.474 |
3.825 |
|
|
Cash & Bank Balances |
3.041
|
2.813 |
2.206 |
|
|
Other Current Assets |
0.386
|
0.281 |
0.000 |
|
|
Loans & Advances |
1.791
|
1.370 |
2.936 |
|
Total
Current Assets |
21.645
|
17.975 |
20.055 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.568
|
1.622 |
1.975 |
|
|
Other Current Liabilities |
3.086
|
1.755 |
1.199 |
|
|
Provisions |
0.000
|
0.000 |
3.200 |
|
Total
Current Liabilities |
3.654
|
3.377 |
6.374 |
|
|
Net Current Assets |
17.991
|
14.598 |
13.681 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.396 |
24.227 |
24.114 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL INCOME
|
23.987 |
18.957 |
24.403 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
21.192 |
17.9069 |
21.818 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2.795 |
1.051 |
2.585 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.00 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.795 |
1.051 |
2.585 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.873 |
0.837 |
0.816 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1.922 |
0.213 |
1.769 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.640 |
0.068 |
0.549 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1.282 |
0.144 |
1.218 |
|
|
|
|
|
|
|
|
|
Add |
Excess/(short)
Provision of Income Tax in respect of earlier years |
(0.004) |
0.004 |
(0.095) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.020 |
20.872 |
19.749 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
22.298 |
21.020 |
20.872 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.122 |
0.231 |
1.412 |
|
|
TOTAL IMPORTS |
3.122 |
0.231 |
1.412 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
286.85 |
251 |
33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.34
|
0.76 |
4.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.19
|
0.77 |
5.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.00 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.16
|
0.16 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.92
|
5.32 |
3.15 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FORM 8
|
Corporate identity
number of the company |
U27200MH1990PTC058866 |
|
Name of the
company |
HARD COATS
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D/2, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai –
400053, Maharashtra |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Floating
charge ·
Others ·
Uncalled
share capital ·
Any
interest in immovable property ·
Calls
made but not paid ·
Ship ·
Goodwill ·
Patent,
license under patent ·
Trademark ·
Copyright
or license under a copyright |
|
Particular of
charge holder |
Nationalized Bank |
|
Nature of
instrument creating charge |
Hypothecation cum
loan agreement (Plant and machinery, stocks and book debts) |
|
Date of
instrument Creating the charge |
07.11.2099 |
|
Amount secured by
the charge |
Rs. 7.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Bank’s
extant guidelines or at such other rate/s of interest/commission as may be
notified by the bank from time to time. Terms of repayment Demand Margin 25% (In terms of
pledge of TDR) or as specified by the bank from time to time Extent and operation of the charge Security and
charge hereby created shall be by way of first charge on all the said
hypothecated assets for due payment as provided in the deed of all monies
including the principal sums, interests/commission costs charges and expenses
and all other monies whatsoever due owing and payable by the borrower to the
bank under or in respect of or in connection with or in any wise concerning
or relating to the said facilities agreed to be granted and/or granted by the
bank to the Borrower and also for due repayment of all present and future
indebtedness and liabilities of the borrower to the bank of any kind in any
manner whether solely or jointly primary or collateral accrued or accruing
with all relative interest/facility and limits : inland bank guarantee S/L
Rs. 7.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
a)All tangible
movable machineries and plant both present and future situated at Unit No.
D/2, Laxmi Industrial Estate, New Link Road, Andheri (W) ,Mumbai - 400053 or
elsewhere b)All tangible
movable properties and assets and stocks of whatsoever nature(both present
and future) wherever situate c)All
present and future book debts, outstanding, money receivables, claims, bills c)All present and
future book debts, outstanding, money receivables, claims, bills which are
now due and owing or which may any time hereafter during the continuance of
this security become due and owing to the Borrower. |
|
Date of
instrument modifying the charge |
07.11.2009 |
FIXED ASSETS
·
Plant and Machinery
·
Office Equipment
·
Factory Equipment
·
Measuring Instrument
·
Electric Installation
·
Furniture and Fittings
·
Vehicles
·
Computers
·
Printer Sharp
·
Computer Software
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.54.96 |
|
|
1 |
Rs.88.68 |
|
Euro |
1 |
Rs.72.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPR |
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 |
6 |
|
--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 |
|
46 |
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.