MIRA
INFORM REPORT
|
Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAILAXMI CASTING AND ALLOYS PRIVATE LIMITED |
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Registered
Office : |
Gut No.75, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.08.2004 |
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Com. Reg. No.: |
11-148067 |
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Capital Investment
/ Paid-up Capital : |
Rs.150.000 Millions |
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CIN No.: [Company Identification
No.] |
U27100MH2004PTC148067 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Mild and Alloy Steel Long Products. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company 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.
INFORMATION PARTED BY
|
Name : |
Mr. Rameshwar |
|
Designation : |
Accountant |
|
Contact No.: |
91-9372692208 |
|
Date : |
28.06.2012 |
LOCATIONS
|
Registered Office / Factory : |
Gut No.75, Farola Village, Aurangabad Paithan Road, Taluka Paithan, District
Aurangabad – 431005, Maharashtra, India |
|
Tel. No.: |
91-2431-251212/251236/251236/37/251212 |
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Mobile No.: |
91-9372692208 (Mr. Rameshwar) |
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Fax No.: |
91-2431-25137/251236/251212 |
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E-Mail : |
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Website : |
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Area : |
20,000 sq ft |
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Location : |
Owned |
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Export Sales Contact : |
Office no.5, 1st floor, Patel Shopping Center, Sainath Road,
Malad (West), Mumbai – 400064, Maharashtra, India |
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Tel. No.: |
91-22-28813066/28813086 |
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Fax No.: |
91-22-28813086 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Manish Omprakash Agarwal |
|
Designation : |
Director |
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Address : |
Flat No D – 45,
Pride Park, Vedant Nagar Station Road, Aurangabad, Maharashtra, India |
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Date of Birth/Age : |
25.02.1975 |
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Date of Appointment : |
18.08.2004 |
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DIN No.: |
00574440 |
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Name : |
Mr. Navin Hanumanprasad Bagadia |
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Designation : |
Director |
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Address : |
H. No. 4, Nilkanth
Vihar, Golegaonkar Colony, Station Road, Aurangabad, Maharashtra, India |
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Date of Birth/Age : |
26.07.1974 |
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Date of Appointment : |
20.11.2004 |
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DIN No.: |
00574513 |
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Name : |
Mr. Manoj Dhruwkumar Peety |
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Designation : |
Director |
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Address : |
R-10673, C/O D R
Peety, Rangaar Galli, Kadrabad, Jalna,
Maharashtra, India |
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Date of Birth/Age : |
03.07.1976 |
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Date of Appointment : |
14.07.2008 |
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DIN No.: |
00633923 |
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Name : |
Mrs. Shardadevi Radhesham Agarwal |
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Designation : |
Director |
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Address : |
Bharat Nagar,
Near Shivaji Statue, Jalna, Maharashtra, India |
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Date of Birth/Age : |
27.01.1955 |
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Date of Appointment : |
18.11.2010 |
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DIN No.: |
01155774 |
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Name : |
Mr. Srinivas Jayaram Palasuledesai |
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Designation : |
Director |
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Address : |
RH – 2, Anand
Vihar, Opp Dhoot Bungalow, Paithan Gate, Aurangabad, Maharashtra, India |
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Date of Birth/Age : |
07.02.1968 |
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Date of Appointment : |
05.08.2008 |
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DIN No.: |
02279223 |
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Name : |
Mr. Pankaj Radheshyam Agarwal |
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Designation : |
Director |
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Address : |
Block No. A – 6,
CTSNO – 18349/3, Pride Plaza, Station Road, Aurangabad, Maharashtra, India |
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Date of Birth/Age : |
30.08.1981 |
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Date of Appointment : |
16.06.2009 |
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DIN No.: |
02411583 |
KEY EXECUTIVES
|
Name : |
Mr. Rameshwar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
D. R. Peety |
|
72880 |
|
Kavita Peety |
|
72330 |
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Aarti Peety |
|
31380 |
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Manoj Peety |
|
52880 |
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Alkesh Peety |
|
52880 |
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D.R.Peety-HUF |
|
61270 |
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Shweta A. Peety |
|
31380 |
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Radheshyam Agrawal |
|
102580 |
|
Rhishi Steel and Alloys Private Limited, India |
|
367980 |
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Pankaj Agrawal |
|
40780 |
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Shardadevi Agrawal |
|
40580 |
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Neetu Agrawal |
|
10580 |
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Manish O Agrawal |
|
132146 |
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Navin H. Bagadiya |
|
141286 |
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Vipin Bagadiya |
|
139334 |
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Nitin V. Bagadiya |
|
118834 |
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Vandana N. Bagadiya |
|
20000 |
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H. M Bagadiya – HUF |
|
10900 |
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Total |
|
1500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
29.00 |
|
Directors or relatives of Directors |
71.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Mild and Alloy Steel Long Products. |
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Exports : |
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Products : |
·
Mild and Alloy ·
Steel Long Products |
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Countries : |
·
Brazil ·
Spain ·
UK |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
UAE ·
Korea ·
Singapore ·
Thailand |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Billets |
M.T |
66000 |
61063 |
|
Rolled Product |
M.T |
62400 |
42164 |
GENERAL INFORMATION
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Suppliers : |
·
S K Traders |
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Customers : |
Retailers and End Users ·
ALZ Steel Alloys |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
·
The Cosmos Co-Operative Bank, Plot No. 13001/01,
Rokdiya Hanuman Colony, Jalna Road, Aurangabad - 431001, Maharashtra, India ·
Bank of Maharashtra, Station Raod Branch, Station
Road, Aurangabad – 431005, Maharashtra, India ·
Jalna Marchants Co-Operative Bank Limited, Jalna,
Maharashtra, India ·
Citi Bank Limited, Aurangabad, Maharashtra, India ·
City Union Bank Limited, Aurangabad, Maharashtra,
India ·
Union Bank of India, Aurangabad, Maharashtra,
India |
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Facilities : |
From Cosmos Co-Operative Bank · CC Rs.500 Millions · TC Rs.410.000 Millions · LC Rs.60.000 Millions · BG Rs. 30.000 Millions · BD Rs.150.000 Millions (Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kailash and Associates Chartered Accountants |
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Address : |
7, Agrawal House, Bansilal Nagar, Station Road, Aurangabad,
Maharashtra, India |
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PAN.: |
AAUPA4535G |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/-
each |
Rs.150.000
Millions |
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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 |
150.000 |
150.000 |
75.000 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
189.836 |
98.712 |
75.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
339.836 |
248.712 |
150.000 |
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LOAN FUNDS |
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1] Secured Loans |
795.113 |
452.212 |
434.102 |
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2] Unsecured Loans |
21.625 |
135.789 |
60.125 |
|
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TOTAL BORROWING |
816.738 |
588.001 |
494.227 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
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Others |
0.000 |
0.000 |
0.805 |
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TOTAL |
1156.574 |
836.713 |
645.032 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
434.922 |
431.187 |
320.391 |
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Capital work-in-progress |
0.000 |
0.822 |
0.000 |
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INVESTMENT |
0.130 |
0.007 |
0.007 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
334.136
|
281.978 |
147.338 |
|
|
Sundry Debtors |
556.505
|
355.493 |
191.119 |
|
|
Cash & Bank Balances |
18.595
|
20.652 |
41.083 |
|
|
Other Current Assets |
9.653
|
8.291 |
7.649 |
|
|
Loans & Advances |
9.553
|
4.444 |
17.986 |
|
Total
Current Assets |
928.442
|
670.858 |
405.175 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
112.513
|
213.594 |
|
|
|
Other Current Liabilities |
9.066
|
26.953 |
76.113 |
|
|
Provisions |
85.341
|
25.612 |
4.511 |
|
Total
Current Liabilities |
206.920
|
266.159 |
80.624 |
|
|
Net Current Assets |
721.522
|
404.699 |
324.551 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.083 |
|
|
|
|
|
|
|
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TOTAL |
1156.574 |
836.713 |
645.032 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
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SALES |
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Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
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TOTAL |
|
2059.500 |
2023.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
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TOTAL |
|
1919.500 |
1967.200 |
|
|
|
|
|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
140.000 |
55.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
22.100 |
16.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
117.900 |
39.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
20.000 |
4.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
97.900 |
35.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3.973 |
0.000 |
|
|
|
Stores & Spares |
|
12.700 |
2.866 |
|
|
|
Capital Goods |
|
24.338 |
36.66 |
|
|
TOTAL IMPORTS |
|
41.011 |
6.532 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
65.27 |
46.74 |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
3530.000 |
2530.000 |
Expected Sales (2012-2013): Rs.4000.000 Millions
The above information has been parted by Mr. Rajeshwar – Accountant
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
4.75 |
1.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
17.57 |
9.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.47 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.01
|
3.43 |
3.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.49
|
2.52 |
5.023 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Micro, Small and Medium Enterprise and
others |
0.000 |
0.000 |
|
|
Others |
112.513
|
213.594 |
80.624 |
|
Total |
112.513
|
213.594 |
80.624 |
|
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 two 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 |
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27100MH2004PTC148067 |
|
Name of the company |
JAILAXMI CASTING
AND ALLOYS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Gut No.75, Farola
Village, Aurangabad Paithan Road, Taluka Paithan, District Aurangabad –
431005, Maharashtra, India Email: bhandareassociates@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
10231536 |
|
Type of charge |
Immovable
property Any interest in
immovable property Book debts Movable property
(not being pledge) Floating charge |
|
Particular of charge holder |
The Cosmos Co-Operative Bank, Plot No. 13001/01, Rokdiya Hanuman
Colony, Jalna Road, Aurangabad - 431001, Maharashtra, India Email: avinash.chavan@cosmosbank.in |
|
Nature of instrument creating charge |
Supplemental
deed of mortgage |
|
Date of instrument Creating the charge |
25.05.2012 |
|
Amount secured by the charge |
Rs.1120.000
Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Cash credit - 14% Bill discounting - 13% Term loan - 14% Letter of credit - not mentioned in the agreement Bank guarentee - not mentioned in the agreement Terms of Repayment Cash credit - review / renewed in march 2013 Bill discounting - roi @13% Term loan - to be repaid as per original sanction letter Letter of credit - not mentioned in the agreement Bank guarentee - not mentioned in the agreement Margin Cash credit - 25% Bill discounting - nil Term loan - 25% Letter of credit - not mentioned in the agreement Bank guarentee - not mentioned in the agreement Extent and Operation of the charge Charge shall remain in force till the entire loan along with interest,
commision, and other charges are repaid by the company. |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Gut no 74, 75
Village Pharola, dist. Aurangabad admn 8 Hec 29 Gunthas Plot At Gut No
54, Area 15 Hec 61r, Village Mharola, Paithan Road, Aurangabad |
|
Particulars of the present modification |
Cash credit:
cosmos/shamrao respectively- 400.000 l Millions + 70.000 Millions = 470.0000
Millions Term loan:
cosmos/shamrao- 110.000 Millions + 300.000 Millions = 410.000 Millions Letter of
credit:cosmos/ shamrao- 60.000 Millions = 60.000 Millions Bank guarentee:
cosmos/shamrao- 30.000 Millions = 30.000 Millions Bill
discounting: cosmos/shamrao- 100.000 Millions + 500 lacs = 150.000 Millions Cash credit
limit,enhanced/modified to 70.000 Millions and fresh bill discounting
facility of 50.000 Millions sanctioned by the shamrao vithal co - operative
bank limited securing total charge to 1120.000 Millions |
TRADE REFERENCE:
·
S K Traders
·
ALZ Steel Alloys
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Auxiliary Equipment
·
Electrical Installation
·
Furniture and Fixture
·
Vehicles
AS PER WEBSITE DETAILS
COMPANY PROFILE
Subject commenced production on 14th June 2005. The company started with manufacturing Mild Steel billets with a vision to enter the speciality steel premium market. To pursuit its goals, JCAPL soon embarked on an expansion program to install an Alloy Steel Rolling Mill in its own premises. The Rolling Mill Project was finalized in May 2006 and Mill was successfully commissioned within nine months.
One of the major milestones of the new mill was the successful rolling of
grades in all sections from 25 mm upto 125 mm within a span of four months. At
JCAPL, they have a core team comprising of proven, experienced, and decisive
leaders who leads the companys relentless passion to improve, to innovate and
to prevail.
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.56.30 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.