|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
S B ELECTRICALS AND EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.47, Road No.2, GIDC Kathwada, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.07.1995 |
|
|
|
|
Com. Reg. No.: |
04-26765 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910GJ1995PTC026765 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Control Panel and Panel. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There has
been continues dip in the turnover. Also the profitability of the company is
deteriorating. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow. 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.
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. Jignesh |
|
Designation : |
Director |
|
Contact No.: |
91-9825185186 |
|
Date : |
30.05.2012 |
LOCATIONS
|
Registered Office/Factory: |
Plot No.47, Road No.2, GIDC Kathwada, Odhav Kathwada Road, Ahmedabad –
382430, Gujarat, India |
|
Tel. No.: |
91-79-22901656/ 22901658 |
|
Mobile No.: |
91-9825185186 (Mr. Jignesh Patel) |
|
Fax No.: |
91-79-22901857 |
|
E-Mail : |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Siddharth C. Shah |
|
Designation : |
Director |
|
Address : |
12, Roop Nagar Society, Near Dada Saheb Pagala, Navrangpura, Ahmedabad
– 380009, Gujarat, India |
|
Date of Birth/Age : |
30.06.1945 |
|
Date of Appointment : |
18.07.1995 |
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 |
U65910GJ1995PTC026765 |
S B ELECTRICALS AND
EQUIPMENTS PRIVATE LIMITED |
Director |
18/07/1995 |
18/07/1995 |
- |
Active |
NO |
|
Name : |
Mr. Saumil Shah |
|
Designation : |
Director |
|
Address : |
12, Roop Nagar Society, Near Dada Saheb Pagala, Navrangpura, Ahmedabad
– 380009, Gujarat, India |
|
Date of Birth/Age : |
14.03.1977 |
|
Date of Appointment : |
29.09.2008 |
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 |
U65910GJ1995PTC026765 |
S B ELECTRICALS AND
EQUIPMENTS PRIVATE LIMITED |
Director |
29/09/2008 |
28/03/2008 |
- |
Active |
NO |
|
2 |
U80903GJ2012PTC068823 |
PRAGMATIC KNOWLEDGE
PRIVATE LIMITED |
Director |
01/02/2012 |
01/02/2012 |
- |
Active |
NO |
|
Name : |
Mr. Jignesh Patel |
|
Designation : |
Director |
|
Address : |
26, Vaibhav Bunglow S Part 3, Near Gulab Tower, Sola Road, Ahmedabad –
380061, Gujarat, India |
|
Date of Birth/Age : |
12.06.1982 |
|
Date of Appointment : |
29.09.2008 |
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 |
U65910GJ1995PTC026765 |
S B ELECTRICALS AND
EQUIPMENTS PRIVATE LIMITED |
Director |
29/09/2008 |
28/03/2008 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Siddharth C. Shah |
|
39500 |
|
Niraj S. Shah |
|
9500 |
|
Dipika S. Shah |
|
4500 |
|
Purna A. Patel |
|
42500 |
|
Jignesh Patel |
|
4000 |
|
Total |
|
100000 |
(AS ON 30.09.2011)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Control Panel and Panel. |
|
|
|
|
Products : |
· Panel Board · Electrical Control Panel Board · Control Panel Board · Control Panel Boards for plans etc. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
· China · Singapore · Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Against Delivery |
|
|
|
|
Purchasing : |
Against Delivery |
GENERAL INFORMATION
|
Suppliers: |
D R Electronics |
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|
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Customers : |
·
Manufacturer ·
Kaushik Engineering Works ·
Ambica Hydraulics Private Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
20 (Approximately) |
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|
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Bankers : |
Bank of Baroda, Post Box No.
1020, Panchkuva, P. O. Railway Pura, Ahmedabad - 380002, Gujarat, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
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|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Siddharta N. Shah and Associates Chartered Accountant |
|
Address : |
203, 3rd Floor, Sumeru Shikhar, Opposite Bhagyoday Bank, Paldi,
Ahmedabad– 380007, Gujarat, India |
|
Tel No.: |
91-79-26642809 (O) /26635953 (R) |
|
Email : |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.235 |
4.010 |
3.466 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.235 |
5.010 |
4.466 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.085 |
1.884 |
1.404 |
|
|
2] Unsecured Loans |
3.868 |
3.176 |
1.580 |
|
|
TOTAL BORROWING |
4.953 |
5.060 |
2.984 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.188 |
10.070 |
7.450 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.599 |
6.593 |
5.945 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.995
|
5.477
|
3.013 |
|
|
Sundry Debtors |
8.883
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
0.608
|
1.632
|
4.199 |
|
|
Other Current Assets |
0.000
|
17.652
|
22.712 |
|
|
Loans & Advances |
2.140
|
2.368
|
1.647 |
|
Total
Current Assets |
17.626
|
27.129
|
31.571 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
13.948
|
22.684
|
29.125 |
|
|
Other Current Liabilities |
0.089
|
0.628
|
0.341 |
|
|
Provisions |
0.000
|
0.340
|
0.600 |
|
Total
Current Liabilities |
14.037
|
23.652
|
30.066 |
|
|
Net Current Assets |
3.589
|
3.477
|
1.505 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.188 |
10.070 |
7.450 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25.672 |
57.265 |
67.565 |
|
|
|
Other Income |
1.614 |
0.638 |
0.101 |
|
|
|
TOTAL (A) |
27.286 |
57.903 |
67.666 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
65.790 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(0.783) |
0.910 |
1.876 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.239) |
0.366 |
0.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.544 |
0.544 |
1.220 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
2.246 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.235 |
4.010 |
3.466 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.55) |
5.44 |
12.20 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover |
|
|
40.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs.45.000 Millions
The above information has been parted by Mr. Jignesh.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.99
|
0.94
|
1.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.05)
|
1.59
|
2.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.37)
|
2.70
|
5.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18)
|
0.18
|
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.48
|
5.73
|
7.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.15
|
1.05 |
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) 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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
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 |
NOTE:
The Registered Office of the company has been shifted from 12 Roop Nagar Society, Near Dada Saheb Pagla
Navrangpur, Ahmedabad-380009, Gujarat, India, to the present address w.e.f.
01.04.2008.
FORM 8:
|
This form is for |
Modification of
charge |
||||||||||||||||||||||||||||
|
Charge
identification number of the modified |
90107079 |
||||||||||||||||||||||||||||
|
Corporate
identity number of the company |
U65910GJ1995PTC026765 |
||||||||||||||||||||||||||||
|
Name of the
company |
S B Electricals
and Equipments Private Limited |
||||||||||||||||||||||||||||
|
Address of the
registered office or of the principal place of business in |
12 Roop Nagar
Society, Near Dada Saheb Pagla Navrangpur,
Ahmedabad-380009, Gujarat, India |
||||||||||||||||||||||||||||
|
Type of charge |
Book Debts Movable property (not being pledge) |
||||||||||||||||||||||||||||
|
Particular of
charge holder |
Bank of Baroda Post Box No.
1020, Panchkuva, P. O. Railway Pura, Ahmedabad – 380002, Gujarat, India |
||||||||||||||||||||||||||||
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
composite agreement of hypothecation of
goods, book debts, movable machinery and vehicles executed by the company to
secure the cash credit and term loan limits of Rs.4.100 Millions |
||||||||||||||||||||||||||||
|
Date of
instrument Creating the charge |
08.11.2007 |
||||||||||||||||||||||||||||
|
Amount secured by
the charge |
Rs.4.100 Millions
|
||||||||||||||||||||||||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit -
0.50% above BPLR @ 13.75% p. a. on monthly rest basis or such other rates as
may be prescribed by the bank from time to time. Term Loan - 1%
above BPLR @ 14.25% P. a. on monthly rest basis or such other rates as may be
prescribed by the bank from time to time. Terms of
Repayment Cash Credit
Stocks / Book Debts - On Demand / Annual Review Term Loan - 60
monthly installments of Rs.0.035 Million each Margin: Cash Credit -
Stocks - 25%, Book Debts up to
90 Days- 50% Term Loan - 30% Extent and
Operation of the charge First and
exclusive hypothecation charge on all tangible movable properties in
particular all plant and machineries, stocks of materials, book debts and
other movable assets of the company lying, being and situate at Factory /
Office Premises, Godowns at Ahmedabad or else where to secure the cash credit
and term loan aggregate limits of Rs.4.100 Millions along with interest, addl
interest, commission, cost and charges and such other amt due to the bank of
what so ever nature Others: (Rs. in
Millions)
|
||||||||||||||||||||||||||||
|
Short particulars
of the property charged |
All Mov Plant and
Machinery both present and future and whether installed or not and whether lying
loose or in cases at site or in transit at premises of the Co At 47, GIDC, Kathwada, Ahmedabad, or elsewhere All the stocks of
Raw Materials, WIP, Semi Finished and Finished Goods both present and future situate
at Co's premises at 47, GIDC, Kathwada, Ahmedabad, or elsewhere All the book
debts both present and future, bills, outstandings, money receivables,
claims. |
||||||||||||||||||||||||||||
|
Particulars of
the present modification |
The bank has
granted Addl CC Limit of Rs.1.000 Millions and term loan of Rs.2.100 Millions
and thus the hypothecation charge on movables is modified and increased from
Rs.1.000 Millions to Rs.4.100 Millions. Thus the first and exclusive
hypothecation charge on tangible movable assets being plant and machinery,
stocks, book debts and all other movable assets of the co will operate for
Rs.4.100 Millions w. e. f. 08.11.2007 |
FORM 8:
· Air Conditioner
· Computer
· Cycle
· D. G. Set
· Electric Installation
· Factory Building
· Furniture
· Motor Car
· Motor Car Skoda
· Motor Cycle
· Plant and Machinery
· Refrigerator
· R. O. Plant
· Scanner Machine
· Scooter (Etemo)
· Telephone System (EPBAX)
· Telephone (Mobile Phone)
· Water Cooler
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.55.85 |
|
|
1 |
Rs.86.88 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
28 |
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.