MIRA
INFORM REPORT
|
Report Date : |
16.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL COATINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3/2, 2nd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.05.1991 |
|
|
|
|
Com. Reg. No.: |
08-012002 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.630 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74950KA1991PTC012002 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRU00211B / BLRU01113A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU2213L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered 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 |
|
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. Shankar Narayan |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-80-23619192 |
|
Date : |
14.06.2012 |
LOCATIONS
|
Registered Office : |
3/2, 2nd Floor, |
|
Tel. No.: |
91-20-23619192 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
49, KIADB Industrial Area, Malur – 563130, |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Pratap Reddy |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.18/4, 18th Cross Sadashiva Nagar, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.06.1951 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.05.1991 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00546751 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Anita Reddy |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.18/4, 18th Cross Sadashiva Nagar, Bangalore – 560080,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.10.1954 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.05.1991 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00546849 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Shankar Narayan |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pratap Reddy |
|
1 |
|
Anita Reddy |
|
1 |
|
KCR Investments Private Limited, India |
|
6300 |
|
Total |
|
6302 |
As on 29.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging |
|
|
|
|
Exports : |
|
|
Products : |
Flexible Packaging |
|
Countries : |
·
African Country ·
Dubai |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit |
|
|
|
|
Purchasing : |
Cash / Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Film |
Kgs |
686143.100 |
|
Ink and Thinner |
Kgs |
562110.660 |
|
Ink and Thinner Captive Consumption |
Kgs |
271755.000 |
GENERAL INFORMATION
|
Suppliers : |
Jindal Polyfilms Private Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
ITC Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
120 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Union Bank of India, Ssi Finance Branch, Tumkur Road, Yeshwanthpur, Bangalore - 560022, Karnataka, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Cash Credit Rs.60.000 Millions form Union Bank of India (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Aru and Dev Chartered Accountants |
|
Address : |
13-A, Shrungar Shopping Centre, 80. M. G. Road, Bangalore -
560001 Karnataka, India |
|
PAN.: |
AAFFA1651A |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6302 |
Equity Shares |
Rs.100/-
each |
Rs.0.630
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 |
0.630 |
0.630 |
0.630 |
|
|
2] Share Application Money |
1.930 |
1.930 |
1.930 |
|
|
3] Reserves & Surplus |
48.075 |
46.602 |
45.736 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
50.635 |
49.162 |
48.296 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
84.914 |
65.910 |
48.387 |
|
|
2] Unsecured Loans |
7.250 |
1.303 |
5.487 |
|
|
TOTAL BORROWING |
92.164 |
67.213 |
53.874 |
|
|
DEFERRED TAX LIABILITIES |
6.112 |
5.816 |
5.793 |
|
|
Sales Tax Deferred terms Liability |
8.627 |
8.626 |
8.627 |
|
|
|
|
|
|
|
|
TOTAL |
157.538 |
130.817 |
116.590 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
46.558 |
38.125 |
32.199 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.019 |
0.019 |
0.019 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
38.027
|
38.341 |
19.540 |
|
|
Sundry Debtors |
41.172
|
37.454 |
39.894 |
|
|
Cash & Bank Balances |
14.917
|
11.305 |
25.430 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
35.436
|
27.736 |
19.735 |
|
Total
Current Assets |
129.552
|
114.836 |
104.599 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
4.747
|
4.387 |
4.024 |
|
Total
Current Liabilities |
18.591
|
22.163 |
20.227 |
|
|
Net Current Assets |
110.961
|
92.673 |
84.372 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
157.538 |
130.817 |
116.590 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
209.737 |
135.661 |
194.882 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.826 |
3.730 |
7.595 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.697 |
2.478 |
2.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.129 |
1.252 |
5.334 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.656 |
0.386 |
2.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.473 |
0.866 |
3.316 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
73.909 |
35.131 |
67.536 |
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9.189 |
8.358 |
8.701 |
|
|
|
Capital Goods |
2.808 |
0.276 |
2.766 |
|
|
|
Others |
0.056 |
0.042 |
0.057 |
|
|
TOTAL IMPORTS |
12.053 |
8.676 |
11.524 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
233.74 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
300.000 |
Expected Sales (2012-13) : Rs.330.000 Millions
The above information has been parted by Mr. Shankar Narayan
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.21
|
0.82 |
3.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
2.55 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
1.41 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.97
|
5.18 |
5.17 |
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 |
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 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 |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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
No.18, Bellary Road, Sadashivanagar, Bangalore Sadashivanagar, Bangalore –
560080, Karnataka, India to Asvij, No. 64, Rmv 2nd Stage, 1st Block,
1st
A Main Road, Dollors Colony, Aswath Nagar, Bangalore – 560094, Karnataka, India w.e.f. 24.11.2011
The registered office of the company has been again shifted from Asvij, No. 64, Rmv 2nd Stage, 1st Block, 1st A Main Road, Dollors Colony, Aswath Nagar, Bangalore – 560094, Karnataka, India to present address w.e.f. 24.11.2011
Operations
The company had achieved a turnover of
Rs.209.737 Millions. The Director are hopeful for improving the Turnover in the
ensuing years.
Trade References
· Jindal Polyfilms Private Limited
· ITC Limited
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74950KA1991PTC012002 |
|
Name of the
company |
UNIVERSAL
COATINGS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3/2, 2nd Floor, Bellary Road, RMV, Sadashivanagar,
Bangalore – 560080, Karnataka, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90191625 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) |
|
Particular of
charge holder |
Union Bank of India, Ssi Finance Branch, Tumkur Road, Yeshwanthpur, Bangalore - 560022, Karnataka, India |
|
Nature of
instrument creating charge |
1. Memorandum of entry 2. Composite hypothecation deed (SD-20) Both documents relate to single modification of charges |
|
Date of
instrument Creating the charge |
17.02.2011 |
|
Amount secured by
the charge |
Rs.155.420 |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest INTEREST: CC: Base Rate +4%
P.A., TL: Base Rate +4.75% P.A., PC/FDBP/FUDBP: Applicable, Present Effective
10.75% P.A. Terms of Repayment On demand Margin CC: 25% ILC: 25% TL: 25% PC/FDBP/FUDBP:
25% Extent and Operation of the charge Hypothecation
charge over entire stocks, book debts, movables, plant and machineries, bills
receivables etc. and other movable assets belonging to the Company. (CC: Rs.43.000
Millions, ILC: Rs.7.000 Millions, TL:
Rs.17.100 Millions, PC/FDBP/FUDBP: Rs.10.000 Millions) Extent of
Equitable mortgage created by deposit of title deeds on Company's immovable
properties. Against various
credit facilities sanctioned by bank to 1) Universal Converters
Private Limited: Rs.77.100 Millions 2) Universal Coatings Private Limited:
Rs.78.320 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of all
tangible movable machineries, plant, machinery fixtures, fittings, other
installations, cranes, furniture, computers and other accessories, vehicles
together with spares, tools and accessories and all other articles lying on
the premises No.49, KIADB Industrial Area, Malur-563 130, Kolar District,
Karnataka or in the godowns of the Borrower. Hypothecation
charge over the whole of the Borrower's movable goods and assets, both
present and future and including but without prejudice to generality of the
foregoing words, all stocks of raw materials, all stocks of raw materials, work-in-progress, semi finished goods and
finished goods such as Plastic sheets, polyethylene rolls/sheets, Paper
rolls/sheets, colours, inks, printing materials etc. Hypothecation of all
the present and future book-debts, outstanding, monies receivable, claims,
bills, contracts, engagements etc. Extension of Equitable mortgage created by deposit of title deeds on
immovable properties bearing land at Plot No.49, Sy No.76, in the Malur Industrial
Area, Malur, within the village limits of Nosigere, Hobli Kasaba, Taluk Malur, Kolar. District containing by
admeasurement 8091 Sq.mtrs. together with all buildings, structures etc
thereon. |
|
Date of
instrument modifying the charge |
15.09.2009 |
|
Particulars of
the present modification |
Total limits
enhanced to Rs.155.420 Millions Extent of
Equitable mortgage created by deposit of title deeds on Company's immovable
properties. Against various Credit facilities sanctioned by Bank to 1) Universal
Converters Private Limited: Rs.77.100 Millions 2) Universal
Coatings Private Limited : Rs.78.320
Millions All other terms
and conditions incl. all existing securities to continue for the entire
limits. |
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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.