MIRA
INFORM REPORT
|
Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAV-EX SEAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21, 2nd Floor, Mahalaxmi Industrial Estate, Dainik, Shivner
Road, Gandhi Nagar, Lower Parel (West), Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.08.1985 |
|
|
|
|
Com. Reg. No.: |
11-037064 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.280 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1985PTC037064 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS21360D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS9454L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer of Zipper Bags |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears slight dip in the sales turnover during 2012. However, the liquidity of the company appears to be good. Trade
relations are reported as decent. 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Ms. Sujata |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-66351516 |
|
Date : |
07.11.2012 |
LOCATIONS
|
Registered Office : |
21, 2nd Floor, Mahalaxmi Industrial Estate, Dainik, Shivner
Road, Gandhi Nagar, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66351516 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Pradip Ramanlal Shah |
|
Designation : |
Chairman |
|
Address : |
4, Guru Krupa,
514/22, SVP Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1941 |
|
Date of Appointment : |
14.07.1993 |
|
DIN No.: |
01960775 |
|
Name : |
Mr. Saunil Bipin Shah |
|
Designation : |
Director |
|
Address : |
4, Guru Krupa,
514/22, SVP Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1959 |
|
Date of Appointment : |
06.08.1985 |
|
DIN No.: |
01960798 |
|
Name : |
Mr. Chhotalal Velji Shah |
|
Designation : |
Whole-time Director |
|
Address : |
B-303, Shreeji Ville,
Dr. Almedia Road, Panchpakdi, Thane – 400062, India |
|
Date of Birth/Age : |
03.07.1951 |
|
Date of Appointment : |
24.07.2008 |
|
DIN No.: |
00896974 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Saunil Bipin Shah Jointly With Bipin Ramanlal Shah jointly with Sudha
Pradip Shah |
|
1198 |
|
Saunil Bipin Shah Jointly With Smita Shah |
|
10700 |
|
Pradip Ramanlal Shah Jointly With Sudha Shah |
|
6511 |
|
Sudha Pradip Shah Jointly With Pradip Ramanlal Shah |
|
1875 |
|
Chhotalal Velji Shah Jointly With Indu Chhotalal Shah |
|
3923 |
|
Indu Chhotalal Shah Jointly With Chhotalal Velji Shah |
|
100 |
|
Viral Chhotalal Shah Jointly With Rashmi Viral Shah |
|
100 |
|
Sudha Pradip Shah Jointly With Pradip Ramanlal Shah Jointly With
Saunil Bipin Shah |
|
3490 |
|
Rashmi Viral Shah Jointly With Viral Chhotalal Shah |
|
100 |
|
Pradip Ramanlal Shah Jointly With Sudha Shah Jointly With Virendra H.
Shah |
|
1 |
|
Chhotalal Velji Shah Jointly With Chimanlal V. Shah Jointly With Kanta
C Shah |
|
1 |
|
Chhotalal Velji Shah Jointly With Jayantilal Shah Jointly With Manjula
Shah |
|
1 |
|
|
|
|
|
Total |
|
28000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer of Zipper Bags |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
The
Shamrao Vithal Co-operative Bank Limited, H-2, Anandashram, Shamrao Vithal
Marg, Mumbai 400013, Maharashtra, India ·
HDFC
Bank Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Narendra Bhat Chartered Accountant |
|
Address : |
2, 2nd Floor, Azgar Manzil, 49 Janmabhoomi Marg, Mumbai –
400001, Maharashtra, India |
|
Tel. No.: |
91-22-66954731 |
|
Pan No.: |
AAIPB6824H |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs. 7.000 Millions |
|
5000 |
12% Cumulative Redeemable Share |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
|
|
|
|
|
TOTAL |
|
Rs. 7.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28000 |
Equity Shares |
Rs.10/- each |
Rs. 0.280
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.280 |
0.280 |
0.280 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
26.736 |
25.151 |
24.091 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.016 |
25.431 |
24.371 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.233 |
16.366 |
8.959 |
|
|
2] Unsecured Loans |
13.390 |
11.820 |
12.085 |
|
|
TOTAL BORROWING |
21.623 |
28.186 |
21.044 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
48.639 |
53.617 |
45.415 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.724 |
21.398 |
23.914 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.230 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.502
|
0.000
|
20.531 |
|
|
Sundry Debtors |
13.878
|
9.238
|
7.754 |
|
|
Cash & Bank Balances |
0.802
|
0.303
|
0.708 |
|
|
Other Current Assets |
0.052
|
23.729
|
2.340 |
|
|
Loans & Advances |
2.712
|
8.825
|
3.950 |
|
Total
Current Assets |
34.946
|
42.095
|
35.283 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.165
|
2.693
|
7.576 |
|
|
Other Current Liabilities |
1.923
|
2.048
|
2.096 |
|
|
Provisions |
(1.827)
|
5.135
|
4.110 |
|
Total
Current Liabilities |
6.261
|
9.876
|
13.782 |
|
|
Net Current Assets |
28.685
|
32.219
|
21.501 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
48.639 |
53.617 |
45.415 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Sales) |
136.300 |
143.800 |
118.900 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.870 |
2.085 |
8.889 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
2.11
|
1.44
|
7.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.25
|
3.28
|
15.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.08
|
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.03
|
1.50
|
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.58
|
4.26
|
2.56 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
6.165
|
2.693
|
7.576 |
|
|
|
|
|
|
Sr. No. |
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 |
Yes |
|
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 |
Yes |
|
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 involved in |
-- |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
The Registered office address of the company has
been shifted from 37/4, Indian Mercantile insurance Building, Ranade Road,
Dadar, Mumbai – 400028, Maharashtra, India to present address w.e.f.
01.06.2009.
BUSINESS ACTIVITY
The working during the year resulted in sales of Rs.136.300 Millions.
Due to difficult market condition the revenue remained at the same level as
last year. The profit Before Tax amounted to Rs.2.870 Million against Rs.2.085
Millions previous year. Strict cost control helped in improving the
profitability for the year. The market conditions is difficult due to all round
increase in the cost of various raw material and other overheads and the
margins are under pressure since the cost increase is not fully absorbed due to
customer resistance. With a view to conserve resources Directors do not
recommend any dividend for the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25209MH1985PTC037064 |
|
Name of the
company |
SAV-EX SEAL
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
21, 2nd floor,
Mahalaxmi Industrial Estate, Dainik, Shivner Road, Gandhi Nagar, Lower Parel
(west), Mumbai – 400013, Maharashtra, India E-mail Id : prs@svpmagicseal.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90235150 |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of charge
holder |
The Shamrao
Vithal Co-operative Bank Limited, H-2, Anandashram, Shamrao Vithal Marg,
Mumbai 400013, Maharashtra, India E-mail Id : shuklagk@svcbank.com |
|
Nature of
instrument creating charge |
Supplementary
Deed of Hypothecation |
|
Date of
instrument Creating the charge |
13/05/2011 |
|
Amount secured by
the charge |
Rs. 21.200
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash
Credit:@PLR-2.50% p.a. Terms of repayment As may be
decided, from time to time, by the Bank. Margin To secure the due
repayment of credit facilities aggregating Rs.21.200 millions (Cash Credit
Rs.20.000 millions and Term Loan Rs.1.200 millions), together with costs,
interest, expenses, charges thereof, granted by the Bank to the Company. Extent and operation of the charge Total Facilities: Cash Credit:
Rs.20.000 millions (enhanced from Rs.14.000 millions) Term Loan: Rs. 1.200 millions --------------------------------- Total: Rs.21.200
millions Other Nil |
|
Short particulars
of the property charged (Including location of the property) |
The whole of the
borrower's present and future stocks of raw materials, goods-in-process of
manufacture and all finished and manufactured goods and articles, etc. of the
Company All of the
borrower's present and future book-debts, outstanding monies, receivables,
claims, bills, rights to or in moveable properties and moveable assets of the
Company All that plant
and machinery, other assets, etc. installed at the Borrower's factory and all
other tangible movable assets of the Company |
|
Date of
instrument modifying the charge |
29/04/2009 |
|
Particulars of
the present modification |
By the present
modification, the Cash Credit facility has been enhanced from Rs. 14.000
millions to Rs. 20.000 millions . Hence the aggregate facilities granted by
the Bank to the Company has been enhanced from Rs. 15.200 millions to Rs.
21.200 millions (being Cash Credit: Rs. 20.000 millions and Term Loan Rs.
1.200 millions (existing)). Therefore the
overall charge stands modified to Rs.21.200 millions |
FIXED ASSETS :
·
Building
·
Machinery
·
Crates
·
Electrical Fittings
·
Fire Extinguishers
·
Vehicles
·
Vehicles Sold
·
Office Equipments
·
Computer
·
Furniture
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
organizatio 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.54.60 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
49 |
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.