MIRA
INFORM REPORT
|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
HIMGIRI CASTINGS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
HIMGIRI TRADING AND COMMERCIAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Alphanso Estate, 5, Surendra Mohan Ghosh Sarani, Mangoe Lane, 3rd
Floor, Room No. 306, Kolkata – 700001, West Bengal |
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Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
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|
|
Date of
Incorporation : |
21.01.1992 |
|
|
|
|
Com. Reg. No.: |
21-054180 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.55.742 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909WB1992PTC054180 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Iron Castings |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 1700000 |
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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. 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 : |
Ms. Madhurima |
|
Designation : |
Account Department |
|
Contact No.: |
91-33-22311404 |
|
Date : |
06.03.2012 |
LOCATIONS
|
Registered Office : |
Alphanso Estate, 5, Surendra Mohan Ghosh Sarani, Mangoe Lane, 3rd
Floor, Room No. 306, Kolkata – 700001, West Bengal |
|
Tel. No.: |
91-33-22311464 |
|
Mobile No.: |
91-9422442457 (Mr. Anil Agarwal) |
|
Fax No.: |
91-33-22311465 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 1 : |
291, Kundaim Industrial Estate, Kundaim. Goa – 403115, |
|
Tel. No.: |
91-832-6410320/21/ 2396338/ 3217573 |
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Fax No.: |
91-832-2395285 |
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E-Mail : |
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|
|
|
|
Factory 2 : |
213 Chandrapura Village, Opp HNG Float Glass, Behind General
Motors, Halol – 389350 , |
|
Tel. No.: |
91-2676-225901/02 |
|
Fax No.: |
91-2676-225904 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Anil Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
RBA House, B-8, Bella Vista Colony, Dona Paula, North Goa – 403004, |
|
Date of Birth/Age : |
13.03.1961 |
|
Date of Appointment : |
18.01.1994 |
|
DIN No.: |
01105477 |
|
|
|
|
Name : |
Mr. Narendra Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
Usha Apartments, 128, Roynagar, Madhyapara, Kolkata – 700070, West |
|
Date of Birth/Age : |
30.11.1959 |
|
Date of Appointment : |
01.12.2003 |
|
DIN No.: |
00265752 |
|
|
|
|
Name : |
Mr. Manoj Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
1-B, 1101, 325, Green Acres, Co-operative Housing Society, Lakhanwala Complex,
Andheri (West), Mumbai 400053, Maharashtra, |
|
Date of Birth/Age : |
08.06.1965 |
|
Date of Appointment : |
00265799 |
|
DIN No.: |
25.08.2003 |
|
|
|
|
Name : |
Mr. Shashank Agarwal |
|
Designation : |
Director |
|
Address : |
H No.8, Bella Vista Colony, Donapaulla, Goa – 403004, |
|
Date of Birth/Age : |
24.03.1988 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
02256515 |
|
|
|
|
Name : |
Mrs. Aruna Kumar Mishra |
|
Designation : |
Director |
|
Address : |
1-B, 1101, 325, Green Acres, Co-operative Housing Society, Lakhanwala
Complex, Andheri (West), Mumbai 400053, Maharashtra, |
|
Date of Birth/Age : |
26.03.1970 |
|
Date of Appointment : |
26.03.2008 |
|
DIN No.: |
00531646 |
KEY EXECUTIVES
|
Name : |
Ms. Madhurima |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Parvati Devi Agarwal |
|
1218500 |
|
Narendra Agarwal |
|
420200 |
|
Anubhav Agarwal |
|
163300 |
|
Udita Agarwal |
|
790000 |
|
Manoj Agarwal |
|
395700 |
|
Madhulika Agarwal |
|
665300 |
|
Anil Kumar Agarwal |
|
668815 |
|
Babita Agarwal |
|
446000 |
|
Shashank Agarwal |
|
405400 |
|
Babulal Agarwal and Sons HUF |
|
115000 |
|
Narendra Kumar and Agarwal and Sons HUF |
|
249600 |
|
Anilkumar Agarwal and Sons HUF |
|
1000 |
|
Anuj Agarwal |
|
35400 |
|
Pushpanjali Carriers Private Limited, |
|
9000 |
|
Jhilmil Dealtrade Private Limited, |
|
9000 |
|
Navrang Vintrade Private Limited, |
|
15000 |
|
Root Star Merchandise Limited, |
|
15000 |
|
Gracier Commodities Private Limited, |
|
15000 |
|
Action Vinimay Private Limited, |
|
18000 |
|
Silvershine Commerce Private Limited, |
|
18000 |
|
TOTAL |
|
5673215 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
1.75 |
|
Directors or relatives of Directors |
98.25 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iron Castings |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Jinesh Jain and Associates Chartered Accountant |
|
Address : |
Alphanso Estate, 5, Surendra Mohan Ghosh Sarani, Mangoe Lane, 3rd
Floor, Room No. 306, Kolkata – 700001, West Bengal |
|
PAN.: |
ACQPJ4799K |
CAPITAL STRUCTURE
After 30.09.2011
Authorized Capital of Rs.60.000 Millions
Issued, Subscribed and Paid up Capital of Rs.57.132 Millions
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5673215 |
Equity Shares |
Rs.10/- each |
Rs.56.732
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5574215 |
Equity Shares |
Rs.10/- each |
Rs.55.742
Millions |
|
|
|
|
|
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 |
55.742 |
51.500 |
36.625 |
|
|
2] Share Application Money |
0.000 |
0.000 |
94.215 |
|
|
3] Reserves & Surplus |
377.698 |
348.245 |
176.963 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
433.440 |
399.745 |
307.803 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
90.744 |
42.878 |
6.057 |
|
|
2] Unsecured Loans |
11.600 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
102.344 |
42.878 |
6.057 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
535.784 |
442.623 |
313.860 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
299.434 |
268.028 |
86.683 |
|
|
Capital work-in-progress |
11.767 |
29.388 |
92.594 |
|
|
Pre Operative Expenses Pending Allocation |
0.000 |
0.000 |
0.919 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.099 |
|
|
DEFERREX TAX ASSETS |
1.221 |
2.465 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
42.948
|
36.546 |
40.117 |
|
|
Sundry Debtors |
169.254
|
75.585 |
57.586 |
|
|
Cash & Bank Balances |
5.093
|
4.084 |
14.194 |
|
|
Other Current Assets |
53.519
|
28.928 |
0.000 |
|
|
Loans & Advances |
19.454
|
17.908 |
65.558 |
|
Total
Current Assets |
290.268
|
163.051 |
177.455 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
44.533
|
7.376 |
2.774 |
|
|
Other Current Liabilities |
16.893
|
9.958 |
23.791 |
|
|
Provisions |
5.480
|
2.975 |
17.325 |
|
Total
Current Liabilities |
66.906
|
20.309 |
43.890 |
|
|
Net Current Assets |
223.361
|
142.742 |
133.565 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
535.784 |
442.623 |
313.860 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
305.649 |
420.948 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
290.941 |
398.191 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
290.941 |
398.191 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
14.708 |
22.757 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
22.390 |
13.327 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
(7.682) |
9.430 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(2.465) |
2.975 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
(5.217) |
6.455 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
176.963 |
170.255 |
|
|
|
|
|
|
|
|
|
|
Excess
provision for income tax written off |
|
0.472 |
0.278 |
|
|
|
|
|
|
|
|
|
|
Wealth
Tax for Earlier Years |
|
0.000 |
(0.025) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
172.218 |
176.963 |
|
|
|
|
|
|
|
|
|
|
Earnings/loss
Per Share (Rs.) |
|
(1.01) |
1.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
(1.71) |
1.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(1.78) |
3.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.39
|
0.16 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.34
|
8.03 |
4.04 |
LOCAL AGENCY FURTHER INFORMATION
Details of
Creditors
|
Particulars
|
31.03.2011
|
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small
micro enterprises |
|
|
|
|
Creditors due others |
44.533
|
7.376 |
2.774 |
|
TOTAL |
44.533
|
7.376 |
2.774 |
|
Check list by Info Agents |
Available in Reports ( Yes/No) |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
-- |
|
No |
|
Yes |
|
Yes |
|
Yes |
|
No |
|
-- |
|
No |
|
No |
|
No |
|
No |
|
No |
|
No |
|
No |
|
-- |
|
-- |
|
Yes |
|
No |
|
-- |
|
-- |
|
No |
|
-- |
|
-- |
|
-- |
FORM 8
|
Corporate
identity number of the company |
U51909WB1992PTC054180 |
|
Name of the
company |
HIMGIRI CASTINGS
PVT LTD |
|
Address of the
registered office or of the principal place of business in |
Alphanso Estate, 5, Surendra Mohan Ghosh Sarani, Mangoe Lane, 3rd
Floor, Room No. 306, Kolkata – 700001, West Bengal, India Email : anup@rbagarwala.com |
|
This form is for |
Modification of
charge |
|
Charge identification
(ID) number of the charge to be modified |
10222874 |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
Bank of Baroda, Halol Branch, 5-6, Yamunakunj, Near Bus Stand, District
– PMS, Halol – 389350, Gujarat, India Email: halol@bankofbaroda.com |
|
Nature of
instrument creating charge |
Agreement of
hypothecation stock and book debts cum packing credits and hypothecation of plant
and machinery, situated at R. S. No. 213/4 and 214/1 of Village-chandrapura,
Taluka Halol, District.- panchmahal, gujarat. Mortagage of the
companies factory land and buildings situated at R. S. No. 213/4 and 214/1 of
village chandrapura, Talika Halol, District.-Panchmahals, |
|
Date of
instrument Creating the charge |
19.10.2011 |
|
Amount secured by
the charge |
Rs.90.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 13% Terms of
Repayment Repayable on
demand Margin 25% on Stock 30% On Book Debts 25% Inland /
Foreign lc (DP/DA) 10% Bank
Guarantee |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Agreement of
hypothecation stock and book debts cum packing credits and hypothecation of
plant and machinery, situated at R. S. No. 213/4 and 214/1 of
Village-chandrapura, Taluka Halol, District.- panchmahal, gujarat. Mortgage of the
companies factory land and buildings situated at R. S. No. 213/4 and 214/1 of
village chandrapura, Talika Halol, District.-Panchmahals, |
|
Date of
instrument modifying the charge |
04.05.2010 |
|
Particulars of
the present modification |
Existing limits total
[cash credit + FBP/FBD + Inland Foreign LC (DP/DA)] Rs.55.000 millions to
revised limits 90.000 millions for enhanced working capital |
FIXED ASSETS
- Land Freehold
- Land Leasehold
- Building
- Roads
- Vehicle
- Plant and Machinery
- Electrical Installation
- Office Equipments
- Office Machinery and Equipments
- Computer
- Furniture and Fixture
- Plant and Machinery
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.50.03 |
|
|
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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.