MIRA
INFORM REPORT
|
Report Date : |
31.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
NORTHERN ELECTRIC CABLES PRIVATE LIMITED (w.e.f. 16.03.2007) |
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Formerly Known
As : |
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Registered
Office : |
1762, Bhagirath Palace, Chandni Chowk, New Delhi - 110006 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
16.03.2007 |
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Com. Reg. No.: |
55-160639 |
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Capital
Investment / Paid-up Capital : |
Rs.7.100 Millions |
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CIN No.: [Company Identification
No.] |
U31909DL2007PTC160639 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Distributor of Electrical Switches, Electrical Switchgear,
Electric Fittings, Electrical Connector, Circuit Breaker, Optical Wire,
Electrical Wires, Coaxial Wires, Flexible Cable, PTFE cables, Winding Wire,
Havells Switchgear, L and T Switchgear, M.K Modular Switchgear, Indo Simon
Switches and Automation, Finolex Wire and Cable. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 79000 |
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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 a satisfactory track record.
There appears slight dip in the sales turnover in the current year. However, general financial position of the company seems to be 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 for normal business dealings at usual
trade terms and conditions. Note: Started in 2000 as Northern Electricals (Mr. Kapil Maggo
Proprietorship Company) converted into Northern Electric Cables Private
Limited on 16.03.2007. |
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 |
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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 : |
Mr. Shiv |
|
Designation : |
Manager |
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Contact No.: |
91-11-23869092 |
|
Date : |
28.12.2012 |
LOCATIONS
|
Registered Office : |
1762, Bhagirath Palace, Chandni Chowk, New Delhi – 110006,
India |
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Tel. No.: |
91-11-23869092 |
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Fax No.: |
91-11-23869095 |
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E-Mail : |
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Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Amit Maggo |
|
Designation : |
Director |
|
Address : |
12/44, Old Rajinder Nagar, New Delhi – 110060, India |
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Date of Birth/Age : |
21.08.1976 |
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Date of Appointment : |
16.03.2007 |
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DIN No.: |
01299526 |
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Name : |
Mr. Kapil Maggo |
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Designation : |
Director |
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Address : |
13/20, Old Rajinder Nagar, New Delhi – 110060, India |
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Date of Birth/Age : |
09.02.1980 |
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Date of Appointment : |
16.03.2007 |
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DIN No.: |
01580592 |
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Name : |
Ginni Maggo |
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Designation : |
Director |
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Address : |
39/1, Old Rajinder Nagar, New Delhi – 110060, India |
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Date of Birth/Age : |
06.11.1981 |
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Date of Appointment : |
16.03.2007 |
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DIN No.: |
01371470 |
KEY EXECUTIVES
|
Name : |
Mr. Shiv |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Amit Maggo |
|
117000 |
|
Kapil Maggo |
|
116000 |
|
Ginni Maggo |
|
117000 |
|
Azad Kumar Maggo |
|
180000 |
|
Subhash Chander |
|
180000 |
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Total
|
|
710000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Electrical Switches, Electrical Switchgear,
Electric Fittings, Electrical Connector, Circuit Breaker, Optical Wire, Electrical
Wires, Coaxial Wires, Flexible Cable, PTFE cables, Winding Wire, Havells
Switchgear, L and T Switchgear, M.K Modular Switchgear, Indo Simon Switches
and Automation, Finolex Wire and Cable. |
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Agencies Held : |
· Flexible Cable · Havells Switchgear · L and T Switchgear · M.K Modular Switchgear · Indo Simon Switches and Automation |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
·
Central Bank of India
· Barclays Bank ·
HDFC Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SPMR and Associates Chartered Accountants |
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Address : |
1855-Basement, Gali Wazir Singh, Chuna Mandi, Pahar Ganj, New Delhi –
110055, India |
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PAN No.: |
AFFPG3771A |
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 :
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No. of Shares |
Type |
Value |
Amount |
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|
710000 |
Equity Shares |
Rs.10/- each |
Rs.7.100
Millions |
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|
a) Reconciliation of number of equity shares
outstanding at the beginning and at the end of the year
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|
As at 31 March, 2012 |
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Particulars |
No. of Shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
710000 |
7.100 |
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Add: Shares Issued during the year |
- |
- |
|
Less: Shares bought back during the year |
- |
- |
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Any other movement |
- |
- |
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Shares outstanding
at the end of the year |
710000 |
7.100 |
b) Shares in the company
held by each shareholders holding more than 5 % shares
|
Name |
As at 31 March. 2012 |
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|
|
No. of Shares holding |
% of share |
|
Amit Maggo |
117000 |
16.48% |
|
Kapil. Maggo |
116000 |
16.34% |
|
Ginni Maggo |
117000 |
16.48% |
|
Azad Kumar Maggo |
180000 |
25.35% |
|
Subhash Chander |
180000 |
25.35% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
7.100 |
7.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
12.653 |
9.664 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
19.753 |
16.764 |
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LOAN FUNDS |
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1] Secured Loans |
|
73.395 |
50.729 |
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2] Unsecured Loans |
|
45.515 |
53.735 |
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TOTAL BORROWING |
|
118.910 |
104.464 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
138.663 |
121.228 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
2.033 |
1.671 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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OTHER NON CURRENT ASSETS |
|
0.016 |
0.032 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
70.420
|
63.507 |
|
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Sundry Debtors |
|
82.660
|
76.087 |
|
|
Cash & Bank Balances |
|
2.627
|
0.314 |
|
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Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
4.646
|
1.669 |
|
Total
Current Assets |
|
160.353
|
141.577 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
21.247
|
19.775 |
|
|
Other Current Liabilities |
|
0.808
|
0.929 |
|
|
Provisions |
|
1.684
|
1.348 |
|
Total
Current Liabilities |
|
23.739
|
22.052 |
|
|
Net Current Assets |
|
136.614
|
119.525 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
138.663 |
121.228 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
386.734 |
466.261 |
|
|
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Other Income |
|
NA |
NA |
|
|
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TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
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|
Office Expenses |
|
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|
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Administrative Expenses |
|
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Advertising Expenses |
|
|
|
|
|
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TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
2.989 |
2.388 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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|
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PROFIT AFTER TAX
|
|
2.989 |
2.388 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
4.21 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.77 |
0.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.84 |
1.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.15 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
7.22 |
7.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
6.75 |
6.42 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
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 |
OPERATION:
During the year the company has achieved a
sales of Rs.386.734 Millions as compared to sales of Rs.466.261 Millions
resulting in Net Profit of Rs.2.989 Millions as compared to Profit Rs.2.388
Millions in the last year.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U31909DL2007PTC160639 |
|
Name of the
company |
NORTHERN ELECTRIC
CABLES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
1762, Bhagirath Palace, Chandni Chowk, New Delhi – 110006, India E-mail: ravinderkgoel@yahoo.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10078414 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others
(Personal guarantee of Directors and) Third Party |
|
Particular of
charge holder |
Central Bank of India,
Ajmal Khan Road, Karol Bagh, New Delhi-110005, India E-mail: delhiroc@jksco.in |
|
Nature of
instrument creating charge |
1. Agreement of
Hypothecation to secure Demand Cash Credit Against Goods 2. Agreement of
Book Debts 3. Form of
Guarantee for advances and credits generally 4. Form No. ADV/1 5. D.P. Note for
Rs. 94.000 Millions 6.Letter
evidencing deposit of Title Deeds for creation of Equitable mortgage |
|
Date of
instrument Creating the charge |
07.12.2011 |
|
Amount secured by
the charge |
Rs.94.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
charged at the rate of 3.50% over base rate. Present Effective rate is 14.25
% p.a. Terms of
Repayment Working Capital :
Repayable on Demand Margin 25% Extent and
Operation of the charge The movable and
immovable properties as mentioned hereunder (as per column no. 15) are
hypothecated and mortgaged to secure the following credit facilities
aggregating to Rs. 94.000 Millions granted by the bank to the borrower 1. Cash Credit
(Hyp) Rs. 56.000 Millions 2. OD/BD Rs. 38.000 Millions ----------------------- Total Rs. 94.000 Millions Others Personal
Guarantee and the Personal Property of A. All directors
of the company namely: 1.Amit Maggo 2.Ginni Maggo 3. Kapil Maggo B. Third Party
Guarantee 1.Sudarshan Maggo 2. Madhu Maggo 3. Geetha Maggo 4. Neetu Maggo |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by way
of first charge on tangible movable property such as products, stock in trade
and goods of borrower which now or hereafter from time to time during this
security shall be brought in, stored. Hypothecation by
way of first charge on all the borrower's present and future book debts,
outstanding, moneys, receivables, claims, bills, contracts, securities,
investments, rights and assets etc EM of Commercial
shop no.G-5, Municipal no. 1760-1766, Dayal Building, Bhagirath Place,
Chandni Chowk, Delhi, registered in the name of Amit Maggo, Kapil Maggo and
Ginni Maggo EM of Property
bearing no. XV/442544264430 and property bearing ground floor portion of
XV/4420-4424 and 1st, 2nd and 3rd floor, Municipal no. XV/4428 at Katra Rai
Ji, Basant Road, Paharganj, New Delhi registered in the name of Madhu Maggo,
Sudarshan Maggo and Geetha Maggo EM of Property
bearing shop no. 9 and 10, Municipal no. 1800-1801, old no. 699/14, Municipal
Ward no. II, situated at Bissomal Colony, Bhagirath Place, Chandni Chowk
Delhi registered in the name of Geetha Maggo, Madhu Maggo and Neetu Maggo. |
|
Date of
instrument modifying the charge |
02.03.2011 |
|
Particulars of
the present modification |
The Cash credit (hypothecation)
limit stand enhanced from Rs. 25.000 Millions to Rs. 56.000 Millions and
OD/BD Limit stand enhanced from Rs. 30.000 Millions to Rs. 38.000 Millions.
Therefore, total amount of charge secured against hypothecation of all
tangible movable assets, stocks, book debts etc. and Equitable Mortgage of
immovable properties of Directors of the company and third party as per
details mentioned in column No.15 above has now been enhanced from Rs.55.000
Millions to Rs. 94.000 Millions. |
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.54.85 |
|
|
1 |
Rs.88.55 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.