|
Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATION OF MUTUAL FUNDS IN |
|
|
|
|
Registered
Office : |
One Indiabulls Centre, Tower 2, Wing B 701, 7th Floor, 841,
S B Marg, |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.08.1995 |
|
|
|
|
Com. Reg. No.: |
11-092062 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Not Available |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65991MH1995NPL092062 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA16206B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA5550A |
|
|
|
|
Legal Form : |
Association |
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|
|
|
Line of Business
: |
Non Profit Making Association for Mutual Funds. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 740000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an association of mutual funds companies being established
to regulate the operations of mutual fund industry in India. Trade relations are
reported as fair. Payments are reported to be usually correct and as per
commitments. Initially, subject 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 DECLINED BY
|
Name : |
Mr. Santosh |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-24210093 |
|
Date : |
02.05.2012 |
LOCATIONS
|
Registered Office : |
One Indiabulls Centre, Tower 2, Wing B 701, 7th Floor, 841,
S B Marg, Elphinstone Road, Mumbai 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24210093 / 24210383 / 43346700 |
|
Fax No.: |
91-22-43346712 / 43346722 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Milind Gajanan Barve |
|
Designation : |
Director |
|
Date of Birth/Age : |
14.11.1957 |
|
Date of Appointment : |
03.06.2003 |
|
DIN No.: |
00087839 |
|
|
|
|
Name : |
Mr. Sundeep Sikka |
|
Designation : |
Director |
|
Date of Appointment : |
24.04.2009 |
|
DIN No.: |
02553654 |
|
|
|
|
Name : |
Mr. Naganath Sundaresan |
|
Designation : |
Director |
|
Date of Appointment : |
16.06.2006 |
|
DIN No.: |
01005246 |
|
|
|
|
Name : |
Mr. Sandesh Madhukar Kirkire |
|
Designation : |
Director |
|
Date of Appointment : |
23.08.2007 |
|
DIN No.: |
01854543 |
|
|
|
|
Name : |
Mr. Nimesh Vipinbabu Shah |
|
Designation : |
Director |
|
Date of Appointment : |
10.03.2008 |
|
DIN No.: |
01709631 |
|
|
|
|
Name : |
Mr. Balasubramanian Athmanathan |
|
Designation : |
Director |
|
Date of Birth/Age : |
05.06.1966 |
|
Date of Appointment : |
05.11.2009 |
|
DIN No.: |
02928193 |
|
|
|
|
Name : |
Mr. Saurabh Manoj Nanavati |
|
Designation : |
Director |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
02473929 |
|
|
|
|
Name : |
Mr. Rajiv Anand |
|
Designation : |
Director |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
02541753 |
|
|
|
|
Name : |
Mr. Sandeep Dasgupta |
|
Designation : |
Director |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
03290510 |
|
|
|
|
Name : |
Ms. Ashu Suyash |
|
Designation : |
Director |
|
Date of Appointment : |
03.02.2011 |
|
DIN No.: |
00494515 |
|
|
|
|
Name : |
Mr. Christopher David Spelman |
|
Designation : |
Director |
|
Date of Appointment : |
26.04.2011 |
|
DIN No.: |
02822108 |
|
|
|
|
Name : |
Mr. Navin Suri |
|
Designation : |
Director appointed in casual vacancy |
|
Date of Appointment : |
10.06.2011 |
|
DIN No.: |
02659250 |
|
|
|
|
Name : |
Mr. Harshendu Damodar Bindal |
|
Designation : |
Director |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
05101238 |
|
|
|
|
Name : |
Mr. Suresh Chhitar Mal Soni |
|
Designation : |
Director |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
02265993 |
KEY EXECUTIVES
|
Name : |
Mr. Santosh |
|
Designation : |
Office Executive |
|
|
|
|
Name : |
Mr. Chandrakant Govind Parekh |
|
Designation : |
Manager |
|
Date of Appointment : |
18.04.1999 |
|
PAN No.: |
AGJPP6154H |
|
|
|
|
Name : |
Mr. H N Shor |
|
Designation : |
Chief Executive |
|
|
|
|
Name : |
Mr. V. Ramesh |
|
Designation : |
Deputy Chief Executive |
|
|
|
|
COMMITTEE ON
VALUATION : |
Mr. Sandesh Kirkire, Chairman Mr. A. Balasubramanian, Member Mr. Rajiv Anand,N, Member Mr. Anil Bamboli, Member Mr. Dhawal Dalal, Member Mr. Amitabh Mohanty, Member Mr. Santosh Kamath, Member Mr. Amandeep Chopra, Member Mr. Sanjay Gaitonde, Member |
|
|
|
|
COMMITTEE ON BEST
PRACTICES : |
Mr. Milind Barve, Chairman Mr. Sundaresan Naganath, Member Mr. Sandesh Kirkire, Member Mr. A. Balasubramanian, Member Mr. Rajiv Anand, Member Ms. Ashu Suyash, Member Mr. Harshendu Bindal, Member |
|
|
|
|
COMMITTEE ON OPERATIONS
AND COMPLIANCE : |
Mr. Saurabh Nanavati, Chairman Mr. John Mathews, Member Mr. Hemang Bakshi, Member Mr. Sandeep Prabhani, Member Mr. Ashok Suvarna, Member Mr. Ramamoorthy Rajagopal, Member Mr. Krishnan Ramchandran, Member Mr. Bhalchandra Joshi, Member Mr. S. L. Pandian, Member Ms. Hemanti Wadhwa, Member Mr. Neerav Kaushik, Member Mr. N Chandrasekharan, Member Mr. Venkatesh Iyer, Member |
|
|
|
|
COMMITTEE ON
REGISTRATION OF AMFI CERTIFIED DISTRIBUTORS : |
Mr. Harshendu Bindal, Chairman Mr. Yezdi Khariwala, Member Mr. Anthony Heredia, Member Mr. Sanjay Sapre, Member Mr. Debasish Mohanty, Member Mr. Himanshu Vyapak, Member Mr. R. Chandrasekaran, Member Ms. Pranita Gramopadhye, Member |
|
|
|
|
COMMITTEE IN
INVESTOR AWARENESS PROGRAM : |
Mr. Sundeep Sikka, Chairman Mr. R S Srinivas Jain, Member Mr. Suraj Kaeley, Member Mr. Kailash Kulkarni, Member Mr. Bhareth Ghia, Member Mr. Navin Tewari, Member |
|
|
|
|
COMMITTEE ON
CUSTOMER ENGAGEMENT : |
Ms. Ashu Suyash, Chairperson Mr. Harshednu Bindal, Member Mr. Vikass Sachdeva, Member Mr. Jimmy Patel, Member Ms. Molly Kapoor, Member Mr. Praveen Bhatt, Member Mr. C A Santosh, Member |
BUSINESS DETAILS
|
Line of Business : |
Non Profit Making Association for Mutual Funds |
|
|
|
|
Publications: |
·
Making Mutual Funds Work for You-Investor’s
Concise Guide ·
AMFI Guidelines and Norms for Intermediaries
(AGNI) ·
AMFI Code of Ethics (ACE) |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
701, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai –
400059, Maharashtra, India |
|
Tel. No.: |
91-22-66729999 |
|
Fax No.: |
91-22-66729777 |
|
Website: |
|
|
PAN.: |
AAAFH2010F |
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] Entrance Fees |
11.800 |
9.300 |
7.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Accumulated Surplus |
159.825 |
143.477 |
131.554 |
|
|
4] General Reserve |
12.569 |
12.069 |
11.569 |
|
|
NETWORTH |
184.194 |
164.846 |
150.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
184.194 |
164.846 |
150.423 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.969 |
1.454 |
1.571 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
177.862 |
89.128 |
112.854 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories of Publications |
0.000
|
0.504
|
0.440 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
62.662
|
68.231
|
28.368 |
|
|
Other Current Assets |
1.426
|
2.626
|
5.230 |
|
|
Loans & Advances |
19.877
|
14.844
|
12.034 |
|
Total
Current Assets |
83.965
|
86.205
|
46.072 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
83.783
|
11.035
|
10.074 |
|
|
Provisions |
0.819
|
0.906
|
0.000 |
|
Total
Current Liabilities |
84.602
|
11.941
|
10.074 |
|
|
Net Current Assets |
(0.637)
|
74.264
|
35.998 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
184.194 |
164.846 |
150.423 |
|
INCOME &
EXPENDITURE ACCOUNT
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
INCOME
|
|
|
|
|
Members Subscription Fees |
21.650 |
13.950 |
14.600 |
|
Registration Fees for Certified Agents |
34.904 |
14.991 |
17.477 |
|
Certification Test Fees |
3.429 |
19.334 |
35.591 |
|
Sale of Publications |
0.638 |
2.297 |
4.065 |
|
Profit on Maturity of Investments |
0.000 |
0.000 |
0.023 |
|
Other Income |
13.700 |
11.655 |
11.750 |
|
TOTAL
|
74.321 |
62.227 |
83.506 |
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
Payments to and Provision for employees |
16.419 |
9.815 |
8.119 |
|
Investor Awareness Programme Expenses |
10.369 |
22.164 |
28.592 |
|
Administrative expenses |
30.004 |
17.594 |
10.695 |
|
Loss on Sale of Fixed Assets |
0.000 |
0.000 |
0.005 |
|
Loss on Maturity of Investments |
0.000 |
0.000 |
0.012 |
|
Depreciation |
0.442 |
0.231 |
0.231 |
|
TOTAL
|
57.234 |
49.804 |
47.654 |
|
|
|
|
|
|
Excess of Income
over expenditure available for Appropriation |
17.087 |
12.423 |
35.852 |
|
|
|
|
|
|
LESS APPROPRIATIONS |
|
|
|
|
Interest on Investments from Ad-Campaign
advanced transferred to advance |
0.239 |
0.000 |
0.000 |
|
Transfer to General Reserve |
0.500 |
0.500 |
2.000 |
|
|
|
|
|
|
BALANCE TRANSFER
TO ACCUMULATED SURPLUS |
16.348 |
11.923 |
33.852 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.46
|
5.77
|
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
7.21
|
4.57 |
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 |
No |
|
8) No. of employees |
No |
|
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 |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
No |
|
24) Banking facility details |
No |
|
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 |
No |
DETAILS OF SUNDRY
CREDITORS
(Rs. in millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
NOTE:
Registered office of the company has been shifted from 706-708, Balarama Bandra Kural Complex, Bandra (East), Mumbai 400051, Maharashtra, India to the present address w.e.f. 18.10.2010.
FIXED ASSETS:
·
Computer
·
Office Equipments
·
Motor Car
·
Furniture
WEBSITE DETAILS:
Press Releases:
INVESTORS CAN NOW MAKE
PROPER EVALUATION OF PERFORMANCE OF DEBT AND BALANCED FUND SCHEMES EIGHT NEW
INDICES LAUNCHED BY G.N.BAJPAI, CHAIRMAN, SEBI
Shri G. N. Bajpai, Chairman, SEBI today
launched 8 new market indices as benchmarks for evaluating the performance of
debt and balanced fund schemes of mutual funds. These indices are specially
designed and constructed by Crisil.com and ICICI Securities in consultation
with AMFI.
An Important Initiative of SEBI and AMFI
The need for benchmarking the performance of mutual fund schemes
The new Indices
Mutual Funds to use the market Indices while presenting performance
evaluation reports
A Important Initiative of SEBI and AMFI
Shri Bajpai mentioned that this is a major and
unique initiative taken by SEBI alongwith AMFI to provide a scientific tool for
investors, distributors and analysts for evaluating the performance of
different types of mutual fund schemes. He mentioned that internationally only
very few countries have mandated the use of market indices for benchmarking the
performance of mutual fund schemes. In this respect, both the Regulator and the
mutual fund industry as represented by AMFI could feel happy to have taken this
initiative in the best interest of investors.
The need for benchmarking the performance of mutual fund schemes
In his welcome address Shri A. P. Kurian,
Chairman, AMFI mentioned that for understanding and evaluating the performance
of mutual fund schemes, they need to be compared with appropriate market
indices that would broadly represent the underlying investment instruments. He
complimented SEBI for mandating the use of appropriate indices while presenting
performance reports. Currently equity indices are used to benchmark the
performance of equity-oriented schemes. However, there are no such appropriate
market indices to benchmark the performance of different types of debt schemes
such as liquid, income and monthly income and balanced fund schemes. AMFI
therefore took the initiative of developing new indices jointly with Crisil.com
and ICICI Securities. An AMFI committee headed by Shri Shailendra Bhandari of
Prudential ICICI worked along with Crisil.com and ICICI Securities and evolved
the principles and methodology for constructing the new indices. The launching
of new indices as a result of the joint efforts of AMFI, Crisil.com and ICICI
Securities according to Shri Kurian is a unique event in the market and he
hoped that distribution houses, agents, financial consultants and banks engaged
in the marketing of mutual fund schemes and the investors would increasingly
use these market indices to evaluate the performance of mutual fund schemes.
The new Indices
Following are the 8 new market indices:
|
Sr. No. |
Name of the New Index |
Designed and Constructed by |
For benchmarking the performance of |
|
1. |
Liquid fund Index [Liquifex] |
Crisil.com |
Liquid funds |
|
2. |
Composite bond fund index [Compbex] |
Crisil.com |
Income/Bond Funds |
|
3. |
Balanced Fund Index [Balance EX] |
Crisil.com |
Balanced Funds |
|
4. |
MIP Index [MIPEX] |
Crisil.com |
Monthly Income Plan Schemes |
|
5. |
Short maturity gilt index [Si-BEX] |
ICICI Securities |
Gilt Schemes of short maturity |
|
6. |
Medium Maturity gilt index [Mi-BEX] |
ICICI Securities |
Gilt schemes of medium maturity |
|
7. |
Long maturity gilt index [Li-BEX] |
ICICI Securities |
Gilt schemes of long maturity |
|
8. |
Composite gilt index |
ICICI Securities |
Composite gilt schemes |
Shri Ravi Mohan, Managing Director, Crisil, felt
that the scientifically designed indices would greatly enhance the value of
performance evaluation of mutual fund schemes a subject in which Crisil.com, a
leading fund ranking firm, has been doing intense research and study. He
welcomed the opportunity Crisil.com got to construct the new indices. Shri
Devdatt Shah, Managing Director and CEO, ICICI Securities mentioned that ICICI
Securities, a major participant in the Government securities market, has
already pioneered the construction of sovereign bond index (IBEX) and now they
are happy to collaborate with AMFI in developing segment specific gilt indices
to suit the needs of mutual fund schemes. Shri Mukarram Bhagat, Chief Executive
Officer, Crisil.com and Shri Devdatt Shah, Managing Director and CEO, ICICI
Securities made presentations on the design of the new indices. They explained
the underlying principles, the weightage assigned to each constituent of the
indices, source of data, methodology etc.
Mutual funds to use the market indices while presenting performance
evaluation reports
As per SEBI guidelines mutual funds are
required to disclose the performance of schemes during the last six months,
1year, 3 years, 5 years and since the date of launch of the schemes while
publishing their half yearly results. Mutual funds have now to disclose also
the performance of the appropriate market indices alongwith the performance of
schemes both in the offer document and in the half yearly results. Further, the
Trustees are required to review the performance of the schemes on periodical
basis with reference to the market indices. Shri Kurian mentioned that AMFI
registered Mutual fund advisors should make use of these significant and very
useful indices for properly comparing and evaluating the performance of different
fund schemes and thus help the investors and others to keep a track on the
performance and also to make proper investment decision.
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 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.52.93 |
|
|
1 |
Rs.85.85 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
CTI |
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.