MIRA
INFORM REPORT
|
Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
VARSHA BIOSCIENCE AND TECHNOLOGY INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17-1-382/PN/1/2, Balaji Nagar, Saidabad, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.12.2009 |
|
|
|
|
Com. Reg. No.: |
01-066145 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 6.518 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01400AP2009PTC066145 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDV08464B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
and Exporter of Anti-biotech products |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 41000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a successor of Varsha Bioscience and Technology, a
proprietory concern started in the year 2003. It is an established company having moderate track. Trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. 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 : |
Ms. Sangeeta |
|
Designation : |
Administrative Department |
|
Contact No.: |
91-40-24074427 |
|
Date : |
26.05.2012 |
LOCATIONS
|
Registered Office / Formulation Unit / Packing Unit : |
17-1-382/PN/1/2, Balaji Nagar, Saidabad, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9791043288 (Mr. John Petor) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
Area : |
10000 Sq ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Ranga Reddy District, Andhra Pradesh |
|
|
|
|
Administrative Office : |
Floor 3, H No : 17-1-383/36/2, 2nd |
|
Tel. No.: |
91-40-24074427 |
|
Fax No.: |
91-40-24071787 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. John Peter Arulmariananthan |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 402, Eternal Apartment, 17-1-383/77, Vinay Nagar Colony,
Saidabad, Hyderabad – 500059, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.02.1965 |
|
Qualification : |
PHD |
|
Date of Appointment : |
04.12.2009 |
|
DIN No.: |
02586360 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01400AP2009PTC066145 |
VARSHA
BIOSCIENCE AND TECHNOLOGY INDIA PRIVATE LIMITED |
Managing
director |
08-12-09 |
04-12-09 |
Active |
NO |
|
2 |
U74900TN2011PTC082271 |
VARSHA
EXIN PRIVATE LIMITED |
Director |
09-09-11 |
09-09-11 |
Active |
NO |
|
Name : |
Mr. Joseph Basil |
|
Designation : |
Director |
|
Address : |
1st Main Road, 24-A, New Colony, Chromepet, Chennai – 600044,
Tamilnadu, India |
|
Date of Birth/Age : |
12.03.1955 |
|
Date of Appointment : |
04.12.2009 |
|
DIN No.: |
02654631 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01400AP2009PTC066145 |
VARSHA
BIOSCIENCE AND TECHNOLOGY INDIA PRIVATE LIMITED |
Director |
04-12-09 |
04-12-09 |
Active |
NO |
|
2 |
U74900TN2011PTC082271 |
VARSHA
EXIN PRIVATE LIMITED |
Director |
19-09-11 |
19-09-11 |
Active |
NO |
|
Name : |
Mr. Dominic Arun Joseph |
|
Designation : |
Director |
|
Address : |
2nd North Cross, 4/12, Kapaleeswarar Nagar, Neelankarai, Chennai
– 600041, Tamilnadu, India |
|
Date of Birth/Age : |
24.04.1974 |
|
Date of Appointment : |
04.12.2009 |
|
DIN No.: |
02255383 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01400AP2009PTC066145 |
VARSHA
BIOSCIENCE AND TECHNOLOGY INDIA PRIVATE LIMITED |
Director |
04-12-09 |
04-12-09 |
Active |
NO |
|
2 |
U74900TN2011PTC082271 |
VARSHA
EXIN PRIVATE LIMITED |
Director |
09-09-11 |
09-09-11 |
Active |
NO |
|
Name : |
Mr. Jeyanthi Kumar |
|
Designation : |
Director |
|
Address : |
519/F/52, 14th Main, Gokul Stage I, Mathikere, Bangalore –
560054, Karnataka, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.09.1961 |
|
Date of Appointment : |
04.12.2009 |
|
DIN No.: |
02255422 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U01400AP2009PTC066145 |
VARSHA
BIOSCIENCE AND TECHNOLOGY INDIA PRIVATE LIMITED |
Director |
04-12-09 |
04-12-09 |
Active |
NO |
|
2 |
U74900TN2011PTC082271 |
VARSHA
EXIN PRIVATE LIMITED |
Director |
19-09-11 |
19-09-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Sangeeta |
|
Designation : |
Administrative Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
John Peter Arulmariananthan |
462794 |
|
Jeyanthi Kumar |
71743 |
|
Dominic Arun Joseph |
52090 |
|
Joseph Basi |
65125 |
|
TOTAL |
651752 |
AS ON 06.02.2012
|
Names of Shareholders |
No. of Shares |
|
John Peter Arulmariananthan |
193147 |
|
Jeyanthi Kumar |
31066 |
|
Dominic Arun Joseph |
20260 |
|
Joseph Basi |
25663 |
|
TOTAL |
270136 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Anti-biotech products |
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Products : |
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Exports : |
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Products : |
Anti-biotech
products |
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Countries : |
·
Germany ·
Canada |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Bank of Maharashtra, Champapet Branch, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Bapuji and Venkat Chartered Accountant |
|
Address : |
#4-1-358, Ascar Arcade, Flat No.5, 2nd Floor, Hanuman
Tekdi, Abids, Hyderabad-500001, Andhra Pradesh, India |
|
Tel. No.: |
91-40-24753010 |
|
Mobile No.: |
91-9441902413 |
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E-Mail : |
|
|
Pan No.: |
AABSB7836Q |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
651752 |
Equity Shares |
Rs.10/- each |
Rs. 6.518
Millions |
|
|
|
|
|
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
921888 |
Equity Shares |
Rs.10/- each |
Rs. 9.219
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 |
|
6.518 |
0.100 |
|
|
2] Share Application Money |
|
1.928 |
0.387 |
|
|
3] Reserves & Surplus |
|
1.927 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10.373 |
0.487 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
15.736 |
0.000 |
|
|
2] Unsecured Loans |
|
0.609 |
0.000 |
|
|
TOTAL BORROWING |
|
16.345 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.028 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
26.746 |
0.487 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
18.720 |
0.026 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.659 |
0.000 |
|
|
Sundry Debtors |
|
8.126 |
0.000 |
|
|
Cash & Bank Balances |
|
0.533 |
0.185 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
4.023 |
0.013 |
|
Total
Current Assets |
|
13.341 |
0.198 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
4.514 |
0.005 |
|
|
Other Current Liabilities |
|
0.083 |
0.000 |
|
|
Provisions |
|
0.897 |
0.000 |
|
Total
Current Liabilities |
|
5.494 |
0.005 |
|
|
Net Current Assets |
|
7.847 |
0.093 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.179 |
0.268 |
|
|
|
|
|
|
|
|
TOTAL |
|
26.746 |
0.487 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
|
|
|
|
|
REVENUE |
|
|
38.258 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
4.839 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
1.105 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
3.734 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.944 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
2.790 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.862 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
1.928 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
|
|
1.928 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
2.96 |
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
40.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 45.000 Millions
The above information has been parted by Ms. Sangeeta.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
7.29 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.70 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.27 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.11 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.43 |
39.60 |
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 |
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 one years |
Yes |
|
12. Profitability for last one 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 |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
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 |
OPERATIONS
The Company is yet to start it’s commercial operations. The Revenue Expenditure
incurred till 31st March, 2011 has been shown under pre-operative
Expenses.
FORM 8
|
Corporate
identity number of the company |
U01400AP2009PTC066145 |
|
Name of the
company |
VARSHA BIOSCIENCE
AND TECHNOLOGY INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
17-1-382/PN/1/2, Balaji Nagar, Saidabad, Hyderabad – 500059, Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
10247209 |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
Bank of Maharashtra, Champapet Branch, N. S. Road, Champapet, Hyderabad – 500059, Andhra Pradesh, India |
|
Nature of instrument
creating charge |
1) Composite Deed
of Hypothecation For All Facilities 2) Sanction
Letter |
|
Date of
instrument Creating the charge |
06.01.2012 |
|
Amount secured by
the charge |
Rs. 27.300
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest CC: Base Rate+45%
(Presently @ 14.95% p.a. WMR) TL: Base Rate
+4.25%+TP 0.75% (Presently @ 15.70% p.a wmr) Terms of repayment Span of repayment
84 months Moratorium 9 months
from first disbursement Principal @ Rs.
0.792 Million per quarter (25 quarterly installments) Interest: in
addition to principal interest to be serviced every month inclusive of
moratorium period Margin CC: 25% In Favour
of Bank TL: 25% In Favour
of Bank Extent and operation of the charge CC: Hypothecation
of Stock and Book Debts (for reckoning DP Book Debts exceeding 90 days should
not taken) TL: Hypothecation
of Existing and Proposed Equipment / Electrical Fittings / Gen Sets and Office
Furniture and Fixtures Other Cash Credit : Rs. 7.500 Millions Term Loan : Rs.19.800 Millions |
|
Short particulars
of the property charged (Including location of the property) |
CC: Hypothecation
of Stock and Book Debts (for reckoning DP Book Debts exceeding 90 days should
not taken) TL: Hypothecation
of Existing and Proposed Equipment / Electrical Fittings / Gen Sets and
Office Furniture and Fixtures Personal
Guarantee of the Directors 1. John Peter Arulmarianathan, 2.Jeyanthi Kumar,
3. A. Joseph Basil and 4. J.
Dominic Arun Joseph |
|
Particulars of
the present modification |
Cash Credit : Rs. 7.500 Millions Term Loan : Rs.19.800 Millions |
FIXED ASSETS
·
Furniture and Fixtures
·
Vehicles
·
Computers
·
Lab Equipments
·
Office Equipments
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. 56.99 |
|
|
1 |
Rs. 88.97 |
|
Euro |
1 |
Rs. 71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
31 |
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.