|
Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
K.P. PACKAGING LIMITED |
|
|
|
|
Registered
Office : |
Plot No.32. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.03.2009 |
|
|
|
|
Com. Reg. No.: |
11-191123 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH2009PLC191123 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK19323D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Packaging Materials |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for small 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Rajendra |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-23073457 |
|
Date : |
02.06.2012 |
LOCATIONS
|
Registered Office : |
Plot No.32. Kamathipura 13th Lane, Opposite Vira Sadan,
Nagpada, Mumbai-400008, Maharashtra, India |
|
Tel. No.: |
91-22-23073457 |
|
Fax No.: |
91-22-23075944 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Konark Udyog Bhavan, Building No.1, Parsuram Puriya Road,
Silvasa-396230, Union Territory, India
|
|
Tel. No.: |
91-260-3296493 / 3205882 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Survey No.213, Parasuramporiya Road, Near Dadra Chek Post,
Silvasa-396230, Union Territory, India
|
|
Location : |
Owned |
DIRECTORS
AS ON 27.09.2011
|
Name : |
Mr. Ketan Madhukant Vira |
|
Designation : |
Managing Director |
|
Address : |
602, Ashish Tirupati Apartments, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
01.07.1973 |
|
Date of Appointment : |
23.03.2009 |
|
DIN No.: |
02420236 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U28129MH1994PTC078919 |
VIRA
PACKAGING AND MARKETING PRIVATE LIMITED |
Director |
13-06-94 |
13-06-94 |
Active |
NO |
|
2 |
U25202MH2009PLC191123 |
K.P.
PACKAGING LIMITED |
Managing
director |
23-03-09 |
23-03-09 |
Active |
NO |
|
Name : |
Mr. Madhukant Koovarji Vira |
|
Designation : |
Whole Time Director |
|
Address : |
602, Ashish Tirupati Apartments, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
02.07.1945 |
|
Date of Appointment : |
23.03.2009 |
|
DIN No.: |
02420251 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U28129MH1994PTC078919 |
VIRA
PACKAGING AND MARKETING PRIVATE LIMITED |
Director |
13-06-94 |
13-06-94 |
Active |
NO |
|
2 |
U25202MH2009PLC191123 |
K.P.
PACKAGING LIMITED |
Whole-time
director |
23-03-09 |
23-03-09 |
Active |
NO |
|
Name : |
Mr. Ritesh Pravin Gala |
|
Designation : |
Whole Time Director |
|
Address : |
109 B, Kashibai Cottage, Worli Village, Mumbai-400025, Maharashtra,
India |
|
Date of Birth/Age : |
04.12.1980 |
|
Date of Appointment : |
16.07.2009 |
|
DIN No.: |
02713828 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2011
|
Names of Shareholders |
No. of Shares |
|
Madhukant Koovarji Vira |
1499250 |
|
Ketan Vira |
499750 |
|
Manjula Vira |
200 |
|
Krutika Vira |
200 |
|
Praful Sampat |
200 |
|
Ila Sampat |
200 |
|
Ritesh Gala |
200 |
|
TOTAL |
2000000 |
AS ON 27.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Packaging Materials. |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India, Bhat Bazar, Anant Deep Chamber, 273/277, Narsi
Natha Street, Mumbai-400009, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dinesh Rajgor and Company Chartered Accountant |
|
Address : |
25/199, Anand Nagar, Vakola, Santacruz (East), Mumbai-400055,
Maharashtra, India |
|
Tel. No.: |
91-22-26185542 |
|
Pan No.: |
ADVPR9455L |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
20.000 |
20.000 |
|
|
2] Share Application Money |
|
22.500 |
0.000 |
|
|
3] Reserves & Surplus |
|
3.717 |
2.274 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
46.217 |
22.274 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
102.664 |
83.144 |
|
|
2] Unsecured Loans |
|
32.337 |
29.005 |
|
|
TOTAL BORROWING |
|
135.001 |
112.149 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
181.218 |
134.423 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
71.550 |
28.340 |
|
|
Capital work-in-progress |
|
2.500 |
26.031 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
1.580 |
1.442 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
37.948 |
35.798 |
|
|
Sundry Debtors |
|
88.836 |
103.901 |
|
|
Cash & Bank Balances |
|
7.096 |
(6.176) |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
6.588 |
11.262 |
|
Total
Current Assets |
|
140.468 |
144.785 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
30.254 |
61.070 |
|
|
Other Current Liabilities |
|
3.461 |
3.449 |
|
|
Provisions |
|
1.165 |
1.656 |
|
Total
Current Liabilities |
|
34.880 |
66.175 |
|
|
Net Current Assets |
|
105.588 |
78.610 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
181.218 |
134.423 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
201.188 |
149.557 |
|
|
|
Other Income |
|
1.646 |
2.679 |
|
|
|
TOTAL (A) |
|
202.834 |
152.236 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
|
192.565 |
139.915 |
|
|
|
Increase / (Decrease) in Stocks of Finished Goods |
|
(5.450) |
1.482 |
|
|
|
TOTAL (B) |
|
187.115 |
141.397 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
15.719 |
10.839 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
12.498 |
8.265 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
3.221 |
2.574 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.531 |
1.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1.690 |
1.328 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.248 |
(0.946) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
1.442 |
2.274 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
2.274 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
3.716 |
2.274 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
21.486 |
17.750 |
|
|
TOTAL EARNINGS |
|
21.486 |
17.750 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
|
0.000 |
5.554 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.72 |
0.11 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
0.71 |
1.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.84 |
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.79 |
0.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.04 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.68 |
8.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
4.03 |
2.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U25202MH2009PLC191123 |
|
Name of the company
|
K.P. Packaging
Limited |
|
Address of the
registered office or of the principal place of business in |
Plot No.32. Kamathipura 13th Lane, Opposite Vira Sadan, Nagpada, Mumbai-400008, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Union Bank of India, Bhat Bazar, Anant Deep Chamber, 273/277, Narsi Natha Street, Mumbai-400009, Maharashtra, India |
|
Nature of instrument
creating charge |
Extension of
Equitable Mortgage by Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
21.06.2011 |
|
Amount secured by
the charge |
Rs. 166.800
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Together with
interest, compound interest and/or additional interest in case of default,
exchange fluctuations, costs, charges, expenses etc. Terms of repayment Term Loan in
installment and Rest on Demand. Margin As per sanction
terms. Extent and operation of the charge To additionally
secure Various Revised Credit Facilities Aggregating to Rs.166.800 Millions
granted by the Bank to the Company as under 1. Imp/Inl L/C
(DP/DA 120 days) Rs.38.500 Millions W/W Buyers Credit (180 days) (Rs.38.500
Millions) 2. CC
(Hypothecation) /BD Rs.47.500 Millions W/WFCL
(Rs.28.500 Millions) 3. Adhoc CC (H)
Rs.20.000 Millions 4. Packing Credit
Rs.20.000 Millions W/W FDBP/FUDBP (DP/DA 90 days) (Rs.20.000 Millions) 5. Term Loan
Rs.40.800 Millions. Total Aggregating
to Rs.166.800 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Extension of
Equitable Mortgage by Deposit of Title Deeds by Oral Consent in respect of Company's
Immovable Properties viz. 1.
All
that Piece and Parcel of the following Industrial Galas Nos. 1,2,3,4 (Each
gala admeasuring 1535 Sq.fts.) totally ademasuring 6140 Sq.fts. respectively
on the ground floor of the building known as "Konark Udyog Bhavan"
constructed on the land of Survey No. 208/5/1/1 admeasuring about 6400 Sq. Mtrs situated at Village
Dadra and Nagar Haveli 2.
All
that Piece and Parcel of Land admeasuring an area of 5272 Sq. Mtrs bearing
Survey No 213/6 situate at Village Dadra of Union Territory of Dadra for
Industrial purpose along with the factory Shed/Building admeasuring about
4059.11 Sq. Mtrs consisting Ground and First Floor constructed thereon and
bounded as follows on or towards the North by land of survey No.213 of Dadra
Plot No.5 on or towards the South by land of Survey No.213 of Dadra Plot No.
9 and 10 on or towards the East by Road and on or towards the West by
Boundary of Village Dadra and border of Gujarat State |
|
Charge
identification number of the charge to be modified |
10165812 |
|
Date of
instrument modifying the charge |
27.07.2010 |
|
Particulars of
the present modification |
Vide this
modification charge amount enhanced from Rs.146.800 Millions to Rs.166.800
Millions and secured by Extension of Equitable Mortgage by Deposit of Title
Deeds by Oral Consent in respect of Company's Immovable Properties viz. 1)
All
that Piece and Parcel of the following Industrial Gala Nos. 1,2,3,4 totally
ademasuring 6140 Sq.fts. at Konark Udyog Bhavan" 2)
All
that Piece and Parcel of Land admeasuring an area of 5272 Sq. Mtrs bearing
Survey No 213/6 situate Village Dadra |
FIXED ASSETS
·
Plant and Machinery
·
Weighting Scale
·
Electric Machinery
·
Television
·
Air Conditioner
·
Generator
·
Punching Machine
·
Refrigerator
·
Office Equipment
·
Mobile Phone
·
Xerox Machine
·
Q. C. Equipments
·
Camera System
·
Furniture and Fixtures
·
Motor Vehicles
·
Computers
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 records 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. 55.51 |
|
|
1 |
Rs. 85.29 |
|
Euro |
1 |
Rs. 68.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.