REVISED REPORT
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Report Date : |
18.05.2012 |
IDENTIFICATION DETAILS
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Name : |
ANUPAM-MHI INDUSTRIES LIMITED |
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Registered
Office : |
Plot No.138, GIDC Industrial Estate, Vithal Udyog Nagar - 388121, |
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Country : |
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Date of
Incorporation : |
12.09.2011 |
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Com. Reg. No.: |
067084 |
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Capital
Investment / Paid-up Capital : |
Rs.62.500 Millions |
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CIN No.: [Company Identification
No.] |
U29100GJ2011PLC067084 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA03896E |
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PAN No.: [Permanent Account No.] |
AAJCA8448E |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
Manufacturer of Port Cranes |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to complete its one full year of
operation. Trade relations are reported as fair. Business is active. Payments
are unknown. The company can be considered for business dealings on a safe and
secured 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
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Name : |
Mr. L C Jain |
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Designation : |
Senior Manager Account |
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Contact No.: |
91-269-2235210 |
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Date : |
16.05.2012 |
LOCATIONS
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Registered Office : |
Plot No.138, GIDC Industrial Estate, Vithal Udyog Nagar - 388121,
Gujarat, India |
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Tel. No.: |
91-269-2235210 |
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Fax No.: |
91-269-2236324 |
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E-Mail : |
ddheranjal@anupamgroup.com
/ anupamgroup@anupamgroup.com
/ anupamgroup@gmail.com |
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Location : |
Owned |
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Factory: |
Mpsez Limited, Villages Tunda Mhi-VI Part of 506-94-82 Mundra, Kutch –
370435, Gujarat, India |
DIRECTORS
AS ON 12.09.2011
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Name : |
Mr. Mehul Jagdishchandra Patel |
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Designation : |
Director |
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Address : |
Anupam, Near Patel Press, Nana Bazar, Vallabh Vidyanagar 388120,
Gujarat, India |
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Date of Birth/Age : |
17.07.1963 |
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Name : |
Mr. Jagdishchandra Chhotalal Patel |
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Designation : |
Director |
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Address : |
Anupam, Near Patel Press, Nana Bazar, Vallabh Vidyanagar 388120,
Gujarat, India |
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Date of Birth/Age : |
06.01.1942 |
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Name : |
Mrs. Shreya Mehul Patel |
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Designation : |
Director |
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Address : |
Anupam, Near Patel Press, Nana Bazar, Vallabh Vidyanagar 388120,
Gujarat, India |
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Date of Birth/Age : |
13.12.1969 |
KEY EXECUTIVES
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Name : |
Mr. L C Jain |
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Designation : |
Senior Manager Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2011
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Names of Shareholders |
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No. of Shares |
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Anupam Industries Limited, Gujarat
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49940 |
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Mehul Patel |
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10 |
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Shreya Mehul Patel |
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10 |
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Jagdishchandra Chhotalal Patel |
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10 |
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Hitesh Patel |
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10 |
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N Nagarajan |
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10 |
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Buddhadeb |
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10 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Port Cranes |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
JNPT (Jawaharlal Nehra Port Trust) |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
Standard Chartered Bank, Abhijeet II, Ground floor,
Near Mithakhalli Six Roads, Ahmedabad - 380006, Gujarat, India ·
Axis Bank,
Ahmedabad, Gujarat, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
ANY and Company Chartered Accountant |
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Holding Company : |
Anupam Industries Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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6250000 |
Equity Shares |
Rs.10/- each |
Rs.62.500
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
LOCAL AGENCY FURTHER INFORMATION
PRESS RELEASE
Anupam and Mitsubishi form JV to invest Rs.2800.000 Millions in 2 units at Tarapur and Mundra, in Gujarat JV to manufacture Port Cranes and Material Handling Equipment for Domestic and Global Markets.
Anupam
Industries Limited will have a 51%
stake and MHI will have 49% stake in the JV, ANUPAM-MHI Industries Limited. Two
partners together will invest equity capital of Rs.1880.000 Millions, in
stages, in the JV to set up 2 manufacturing units in Gujarat at a cost of Rs.2800.000
Millions. This partnership has already
bagged 2 orders - one from JNPT and another from Krishnapatnam Port. Anupam Industries is the largest overhead
cranes manufacturer in India and MHI is the world's leading heavy machinery
manufacturer.
The Rs.3000.000 Millions Indian crane manufacturing major, Anupam Industries Limited and Japanese conglomerate Mitsubishi Heavy Industries Limited (MHI) have joined hands to form a new joint venture company, ANUPAM-MHI Industries Limited. This JV will manufacture Port Cranes and Material Handling Equipment for domestic and global markets. It is aimed at aggressively exploring India's fast-growing market, with the global markets in sight.
Elaborating on the plans for this new JV, Mr. Mehul Patel, Managing Director of Anupam Industries Limited and CEO of new JV Company, said, "The two JV partners will invest equity capital of Rs.1880.000 Millions in ANUPAM-MHI Industries, with Anupam holding 51% and MHI owning 49%. The head office will be located at Anand in the state of Gujarat and two manufacturing units will be set up at Anand and Mundra in the state."
Mr. Kanji Obata, Chairman of new JV said, "Port crane and equipment market is expected to grow significantly in India, Middle East, Asian Countries and Latin America. Going forward, leveraging MHI brand, reputation and global customer base with JV's cost competitive production base and aggressive marketing the JV expects a reasonable market share and position, globally."
The first phase of capital expenditure for the JV has been finalised with a capital expenditure of Rs.2800.000 Millions. To facilitate fabrication and manufacture of these gigantic products, an inland manufacturing facility spread over 300,000 square metres of land area at Tarapur near Anand, Gujarat is in progress.
Port cranes (ship-to-shore, rail mounted gantry, rubber tyred gantry) require a seafront facility for final assembly and roll off of products into barges. Towards this purpose, Anupam-MHI has arranged for 120,000 square metres of land at Mundra Port and Special Economic Zone (MPSEZ) along with a load out jetty for roll-on / roll-off for the completely erected and commissioned equipment on to the barge / vessel for onward dispatch to customers.
When the facilities are in place at Anand and Mundra, Anupam-MHI will have total manpower strength of around 2000 people. This facility would be the first and only of its kind in India and one of the very few in the world. The first phase will have sufficient capacity to generate sales of Rs.8000.000 Millions. Prospects for the next stage of expansion happening seamlessly and soon are very bright in view of the encouraging market potential.
The joint venture company has already bagged its first 2 orders: Rs.1000.000 Millions worth order for 3 units of ship-to-shore container handling cranes (RMQC) from JNPT and another significant order of around Rs.2000.000 Millions plus for 6 units of ship unloaders from Krishnapatnam Port. This private sector port has an option to order further 4 nos. of unloaders of around Rs.1350.000 Millions.
Earlier, in April 2010, MHI had agreed to license its crane and material handling equipment technology for large-scale ports, including container cranes, to Anupam Industries Limited, India's largest overhead crane builder. Under this license agreement, the company has already executed higher capacity forging and ladle crane orders for L and T and Jindal Steel and Power. This JV will further strengthen the ties between the two partners. By combining MHI's product development and manufacturing expertise and engineering know-how relating to installation with Anupam's production bases and local marketing/service network, the two companies are engaged dynamically to develop their market in India and globally.
The new company will handle manufacturing, domestic marketing and after-sales service for port-use loading and unloading equipment, including container cranes and unloaders; bulk material handling equipment and also large ladle cranes. MHI shall look after global marketing and associated services through its vast global network.
The JV is expected to commence operations in the first half of 2012 and will target an annual production of 60 units.
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Check
List by Info Agents |
Available
in Report (Yes / No) |
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1)
Year of Establishment |
Yes |
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2)
Locality of the firm |
Yes |
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3)
Constitutions of the firm |
Yes |
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4)
Premises details |
Yes |
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5)
Type of Business |
Yes |
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6)
Line of Business |
Yes |
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7)
Promoter's background |
Yes |
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8)
No. of employees |
Yes |
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9)
Name of person contacted |
Yes |
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10)
Designation of contact person |
Yes |
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11)
Turnover of firm for last three years |
No |
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12)
Profitability for last three years |
No |
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13)
Reasons for variation <> 20% |
-- |
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14)
Estimation for coming financial year |
No |
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15)
Capital in the business |
Yes |
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16)
Details of sister concerns |
Yes |
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17)
Major suppliers |
No |
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18)
Major customers |
Yes |
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19)
Payments terms |
Yes |
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20)
Export / Import details (if applicable) |
-- |
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21)
Market information |
-- |
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22)
Litigations that the firm / promoter involved in |
-- |
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23)
Banking Details |
Yes |
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24)
Banking facility details |
No |
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25)
Conduct of the banking account |
-- |
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26)
Buyer visit details |
-- |
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27)
Financials, if provided |
No |
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28)
Incorporation details, if applicable |
Yes |
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29)
Last accounts filed at ROC |
-- |
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30)
Major Shareholders, if available |
Yes |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.38 |
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1 |
Rs.86.55 |
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Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.