|
Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
MITSU CHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
229, Gala Complex, 2nd Floor, Din Dayal Upadhayay Marg, Mulund
(West), Mumbai – 400 080, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.09.1988 |
|
|
|
|
Com. Reg. No.: |
11-048925 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1988PTC048925 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22665G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM0641G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Container, Injection Moulding. |
|
|
|
|
No. of Employees
: |
175 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 133000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but 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 : |
Mr. Sudhir Joshi |
|
Designation : |
Accountant Manager |
|
Contact No.: |
91-22-25920055 |
|
Date : |
29.05.2012 |
LOCATIONS
|
Registered Office : |
229, Gala Complex, Din Dayal Upadhayay Marg, Mulund (West), Mumbai –
400 080, |
|
Tel. No.: |
91-22-25920055 |
|
Fax No.: |
91-22-25920077 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
N-83/ 84, M.I.D.C., Kumbhavali Naka, Tarapur, Boisar, Dist. Thane -
401 506, |
|
Tel. No.: |
91-2525-273088 / 278361 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. J-237
M.I.D.C., Tarapur, Boisar, District Thane - 401 506, |
|
Tel. No.: |
91-2525-260055
/ 260099 |
|
|
|
|
Factory 3 : |
Khasra No. 60/4, Rungta Industries Compound, |
DIRECTORS
As on 23.09.2011
|
Name : |
Mr. Manish .M. Dedhia |
|
Designation : |
Director |
|
Address : |
A/ 1501, Runwal Pride, L.B.S. Marg, Mulund (West), Mumbai – 400 080, |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
01552841 |
|
|
|
|
Name : |
Mr. Sanjay .M. Dedhia |
|
Designation : |
Director |
|
Address : |
402, Ashirwad, |
|
Date of Appointment : |
15.07.1993 |
|
DIN No.: |
01552883 |
|
|
|
|
Name : |
Mr. Jagdish .L. Dedhia |
|
Designation : |
Director |
|
Address : |
|
|
Date of Appointment : |
12.04.1990 |
|
DIN No.: |
01639945 |
|
|
|
|
Name : |
Mr. Liladhar .V. Dedhia |
|
Designation : |
Director |
|
Address : |
|
|
Date of Appointment : |
15.07.1993 |
|
DIN No.: |
02246055 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Joshi |
|
Designation : |
Accountant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2011
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Jagdish L. Dedhia |
|
20610 |
|
Liladhar V. Dedhia |
|
15900 |
|
Sanjay M. Dedhia |
|
20700 |
|
Manish M. Dedhia |
|
20698 |
|
Vimlaben Dedhia |
|
5100 |
|
Lilavati Dedhia |
|
21000 |
|
Ameeta Dedhia |
|
390 |
|
Jigna Dedhia |
|
300 |
|
Jalpa Dedhia |
|
300 |
|
Hemant Maru |
|
7400 |
|
Hemant Hansraj Maru (HUF) |
|
600 |
|
Hansraj Hemraj Maru (HUF) |
|
6000 |
|
Sakarben Maru |
|
200 |
|
Hansraj Maru (HUF) |
|
1800 |
|
Manish Mavji Dedhia Jointly with Mr.
Vikrant Gogri Jointly with Mrs. Kala Vikrant Gogri |
|
01 |
|
Manish Mavji Dedhia Jointly with Ms. Zaverben
Ravji Chheda Jointly with Mr. Manish Rasiklal Shah |
|
01 |
|
Total |
|
121000 |
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Hemant Maru |
|
3000 |
|
Indira Maru |
|
11000 |
|
Hiranya Maru |
|
6000 |
|
Poonam Maru |
|
3000 |
|
Hemant Maru (HUF) |
|
7500 |
|
Hansraj Maru |
|
40000 |
|
Sakarben Maru |
|
4000 |
|
Hansraj Maru (HUF) |
|
500 |
|
Total |
|
75000 |
As on 23.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Container, Injection Moulding. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days and 60 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days and 60 Days) |
GENERAL INFORMATION
|
Customers : |
Manufacturer and Others |
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No. of Employees : |
175 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit Rs. 100.000 Millions (From UBI) Term Loan Rs. 43.000 Millions (From UBI)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V.J. Shah and Company Chartered Accountants |
|
Address : |
19/ 21, |
|
PAN No.: |
AAAFV0230F |
CAPITAL STRUCTURE
(AS ON 31.03.2011
)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
225000 |
Equity Shares |
Rs. 100/- each |
Rs. 22.500 millions |
|
75000 |
Preference Shares |
Rs. 100/- each |
Rs. 7.500 millions |
|
|
Total |
|
Rs. 20.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
121000 |
Equity Shares |
Rs. 100/- each |
Rs. 12.100
millions |
|
75000 |
Preference Shares |
Rs. 100/- each |
Rs. 7.500
millions |
|
|
Total |
|
Rs. 19.600 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 |
19.600 |
19.600 |
19.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
32.879 |
22.746 |
14.066 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
52.479 |
42.346 |
33.166 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
135.950 |
114.460 |
96.861 |
|
|
2] Unsecured Loans |
38.936 |
29.481 |
20.795 |
|
|
TOTAL BORROWING |
174.886 |
143.941 |
117.656 |
|
|
DEFERRED TAX LIABILITIES |
9.847 |
7.425 |
8.207 |
|
|
|
|
|
|
|
|
TOTAL |
237.212 |
193.712 |
159.029 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
111.420 |
92.996 |
78.699 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.500 |
0.623 |
1.165 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.145
|
49.543 |
29.683
|
|
|
Sundry Debtors |
78.555
|
61.094 |
54.806
|
|
|
Cash & Bank Balances |
0.285
|
0.270 |
0.940
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
16.046
|
12.578 |
10.632
|
|
Total
Current Assets |
149.031
|
123.485 |
96.061 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
8.721
|
10.165 |
8.673 |
|
|
Other Current Liabilities |
8.816
|
6.203 |
4.341
|
|
|
Provisions |
6.202
|
7.024 |
3.882
|
|
Total
Current Liabilities |
23.739
|
23.392 |
16.896 |
|
|
Net Current Assets |
125.292
|
100.093 |
79.165
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
237.212 |
193.712 |
159.029 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
424.648 |
338.630 |
295.406 |
|
|
|
Other Income |
1.018 |
1.700 |
1.278 |
|
|
|
TOTAL |
425.666 |
340.330 |
296.684 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
407.063 |
327.156 |
290.193 |
|
|
|
|
TOTAL |
407.063 |
327.156 |
290.193 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
18.603 |
13.174 |
6.491 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.269 |
2.550 |
2.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12.334 |
10.623 |
4.158 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export (Losses)Earnings |
0.113 |
(0.218) |
3.022 |
|
|
|
Sales value of Exports |
0.175 |
0.168 |
NA |
|
|
TOTAL EARNINGS |
0.288 |
0.050 |
3.022 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase value of Imports |
6.612 |
12.696 |
NA |
|
|
TOTAL IMPORTS |
6.612 |
12.696 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
95.73 |
81.60 |
21.77 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
510.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs. 640.000 Millions
The above information has been parted by Mr. Sudhir Joshi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.90
|
3.14 |
1.40
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.38
|
3.89 |
2.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.14
|
6.09 |
3.71
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.31 |
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.97
|
4.13
|
4.06
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
5.28 |
5.69
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs. in Millions
31.03.2011 |
Rs. in Millions
31.03.2010 |
Rs. in Millions
31.03.2009 |
|
Sundry Creditors
– Others |
|
|
8.673 |
|
- Sundry Creditors for Expenses |
2.473 |
2.100 |
-- |
|
- Sundry Creditors for Goods |
5.924 |
6.395 |
-- |
|
- Sundry Creditors for Capital Goods |
0.324 |
1.670 |
-- |
|
Total |
8.721 |
10.165 |
8.673 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
--------- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
------------ |
|
Litigations that the firm/ Promoters Involved in |
------------ |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
------------- |
|
Buyer visit details |
------------- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
Bank Charges
|
Corporate
identity number of the company |
U24110MH1988PTC048925 |
|
Name of the
company |
MITSU CHEM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
229, Gala Complex, Din Dayal Upadhayay Marg, Mulund (West), Mumbai –
400 080, |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property (not being pledge) |
|
Particular of
charge holder |
L and T Finance Limited, L and T House, Ballard Estate, Mumbai –
400001, E-Mail: mca21@ltfinance.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation Deal No. 875378 |
|
Date of
instrument Creating the charge |
18.04.2012 |
|
Amount secured by
the charge |
Rs. 10.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 14.00% per annum Terms of Repayment: 36 months Margin: Rs. 2.712
Millions Extent and Operation of the charge: First and
Exclusive charge by way of hypothecation as per clause nos. 2,4,5,8,10,13,14
and 16 Vide the deed of
hypothecation dated 18.04.2012. |
|
Short particulars
of the property charged |
Asset description:
Injection moulding machines , DG sets, Compressors, Scrap grinder more
particularly described in the schedule/ annexure to the deed of
hypothecation' Asset location:
Rudrapur |
FIXED ASSETS:
WEBSITE DETAILS:
HISTORY:
They stand for innovation, they stand for discovery and most importantly
they stand For continuous improvement. That's them, Mitsuchem. It was the year
1990 that Mitsuchem was established and ever since that eventful day there's no
looking back. What started off with a small working space, a small production
range, with very few Resources at hand, has today transformed as the leading
manufacturer of a wide range of products in the blow molding, injection molding
and also customized molding (combination of processes) catering to specific
customer needs.
The vision of the Dedhia group which strongly believes in the
corporatization of family business has today Made Mitsuchem, a professional
entity. It was their determination and faith that led to the foundation of
Mitsuchem. The dedicated team of people, operating units and manufacturing
solutions enable them to Provide the highest level of quality and production
solutions in associated technologies.
They started with a small plot of 1000 sq. meters in 1990. In 1995, they
bought the adjoining plot of 1000 square meters.
Moving ahead in the endeavor to grow, they have further added in early
2007, another plot of 3400 sq. Mts in Tarapur to cater to niche products.
In the year 1990, they started with an installed capacity of 300 mt per
annum. With systematic expansions in phased manner and by upgrading and
empowering theirselves, they took the installed capacity to 4000 mt per annum
since 1990. Since its establishment, Mitsu has grown in size and ideology to Serve
and deliver quality to its customers.
Since 1990, they have fast expanded both in manufacturing capacity as
well as manufacturing space.
ACHIEVEMENTS:
They being an ISO 9001 certified company, the esteemed customers can enjoy
the validity of 1 year for UN certificates and during this period unlimited
containers can be exported. This enables the customers of substantial savings
by 50% in certification charges.
The Recent breakthrough development of “Plastic Clamp” as an alternative to the G.I metal clamp
for open top containers (from 15 lit to 65 lit) is widely accepted in market.
The benefits of the product is much appreciated and encouraged.
The unit at Tarapur,
TEAM
Employees are an asset of their company. They promote positive attitude and leadership in every employee. They cherish every employee and allow them to specialize in the areas of their interest.
Their team ensures that individual staff members express themselves freely and respect each other's opinions and thoughts.
Their Team:
Mr. Jagdish Dedhia ( Director - Production & Factory Administration
)
Mr. Sanjay Dedhia ( Director - Marketing & New Development )
Mr. Manish Dedhia ( Director - Finance & Administration )
PRESS RELEASE
Launch of a new unit at Rudrapur Uttarakhand. 02 Mar
2012
With much honor they would like to make it known that they have just opened a new unit at Rudrapur, Uttarakhand in 2012.
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. 55.58 |
|
|
1 |
Rs. 69.73 |
|
Euro |
1 |
Rs. 87.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
ACH |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.