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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
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Name : |
POLYCOM ASSOCIATES |
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Registered
Office : |
411, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
29.08.1996 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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IEC No.: |
0397015151 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP01557D |
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PAN No.: [Permanent Account No.] |
AADFP8097K |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturing and Exporter of flexible Electrical and
Insulation Composites and Cable Wraps and Solar Laminates. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (57) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 40000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established partnership concern having fine track
record. The concern is doing well. Trade relations are reported to be fair.
Business is active. Payments are reported to be regular and as per
commitment. The concern 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 |
INFORMATION PARTED BY
|
Name : |
Mr. Chintan R. Shah |
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Designation : |
Partner |
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Contact No.: |
91-22-28329474 |
|
Date : |
12.06.2012 |
LOCATIONS
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Registered Office : |
411, Acme Plaza, Opposite Sangam Theatre, Andheri – Kurla Road, Andheri (East), Mumbai – 400 069, Maharashtra, India |
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Tel. No.: |
91-22-28329474 / 75 / 76 |
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Fax No.: |
91-22-28329886 |
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E-Mail : |
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Website : |
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Area : |
1200 sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. 26, GIDC, Daman Industrial Estate, Dabhel, Daman
– 396 210, |
|
Area : |
3000 sq. ft. |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. Ramesh V. Shah |
|
Designation : |
Managing Partner |
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Address : |
9, Shubham Apartment, Bajaj Road, Vile Parle (West), Mumbai – 400 056, Maharashtra, India |
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Date of Birth/Age : |
61 years |
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Qualification : |
B. Com. |
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Name : |
Mr. Chintan R. Shah |
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Designation : |
Partner |
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Address : |
9, Shubham Apartment, Bajaj Road, Vile Parle (West), Mumbai – 400 056, Maharashtra, India |
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Date of Birth/Age : |
30 years |
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Qualification : |
B.E. (Production) |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporter of flexible Electrical and
Insulation Composites and Cable Wraps and Solar Laminates. |
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Products : |
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Brand Names : |
Its’ brand names are
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Exports : |
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Products : |
Flexible Electrical and Insulation Composites and Cable
Wraps and Solar Laminates. |
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Countries : |
·
Spean ·
Mexico ·
Peru ·
Nijeriya ·
Malaysia ·
Singapore ·
Dubai ·
Saudi |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
USA ·
Japan ·
Germany ·
Korea ·
China |
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Terms : |
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Selling : |
Advance |
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Purchasing : |
Advance |
GENERAL INFORMATION
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Customers : |
OEM’S and Dealer
Electric Motors
Industries : · Siemens Limited · ABB Limited · Kirloskar Electric Company Limited · Lucas TVS Limited · Indian Railways. · Bharat Bijlee Limited · Crompton Greaves Limited · BHEL Cable Industries :
· Finolex Cables Limited · Ravin Cables Limited · Sterlite Cables Limited · RPG Cables Limited · Tamilnadu Telecommunications Limited · Uniflex Cables Limited · Cable Corporation of India Limited · Birla Ericson Optical Limited · Central Cables Limited · Polycab Cables Private Limited · Thermopads Private Limited. · UM Cables Limited General Engineering
Industries :
· Crompton Greaves-Transformer Division · Hematic Motors Limited · HMTD Engineering Private Limited · Kerala Electrical and Allied Engineering · PRS Permacel Private Limited · CG-PPI Adhesive Products Limited · Bajaj Ventures Limited · Aqura Pumps (Banglore) Private Limited · Raman Sinhas Electricls · Electrical Products of India · Laxmi Electric Drive · Unitech Transformer |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
H. P. Shah Associates Chartered Accountants |
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Address : |
Rajhans, 1st Floor, GIDC, Char Rasta, Vapi, |
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Tel. No.: |
91-260-2423540 |
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Fax No.: |
91-260-2425540 |
CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
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Owned : |
Rs.10.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.10.000
Millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
560.000 |
520.000 |
Expected Sales (2012-13) : Rs.600.000 Millions
The above information has been parted by Mr. Chintan R. Shah
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
No |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
No |
WEBSITE DETAILS:
Company Profile
Subject is a high integrity
organization manufacturing Flexible Multi-layer Composites.
Established in 1997 by progressive business group, Polycom offers definite business solution to ever wanting High-tech Flexible Electrical Insulation needs.
Today, Polycom has extensive experience and technology skills to be the market
leaders for the product fields of Electrical Motor Insulation, Cable Wraps and
Packaging Industries.
Polycom's manufacturing plant at Daman is equipped with state of the art sophisticated machinery for lamination/coating and precision high-speed slitting processes. The installed capacity is ample to meet the requirements of the local markets and global markets.
Up-to-date R and D and quality control facilities enable Polycom to manufacture
the complete range of products to meet the customers' needs for quality and
timely product supply.
Tight integration of the plant with the corporate offices all-over
India ensures that Polycom's customers are content with the products and
services offered by the company.
Combining global spread with detailed knowledge of domestic market, Polycom
also undertakes product distribution activities for the world's best known
companies such as Dupont, Garware, Bakelite Hylam etc.
Their experts help the customers to meet their target in cost effective High-tech Insulation designs.
MANAGEMENT
Mr. Kaniyalal Shah
Mr. Kanaiyalal Shah is the founder of the company. He is a frontline leader in the true sense. With his pioneering efforts and 30 years of experience in business he has taken the company to great heights. He motivates the team to achieve total customer delight, which is of utmost importance to him.
Mr. Ramesh Shah
Mr. Ramesh Shah has put efforts of taking the company to greater heights. He has 25 years of immense professional experience to his credit and has traveled all over the globe. He is a firm believer in perfection. Fiercely ambitious, he considers 'Sky as the Limit'.
He has been honored with 'The Man of Achievement Award 2000' by International Publishing House for his immense professional experience, vast practical expertise duly blended with an academic competence.
Mr. Niranjan Shah -
Finance Manager
Dedication is the driving force of Mr. Niranjan Shah. 25 years of experience and knowledge of the financial intricacies
Mr. Mulesh Mehta - Production Manager
Backed by 15 years of professional experience, Mr. Mehta manages the production activities on rigid norms of quality control enabling the company to achieve its due share in the product market.
Mr B S Sudhakar -
Marketing Manager
Mr. B S Sudhaker is an connoisseur in marketing activities and has earned 25 years of experience in the field of marketing and administration.
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 : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
57 |
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.