|
Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MOON FISHERY ( |
|
|
|
|
Registered
Office : |
G-255, 1st Floor, Div. No. XXVII, Door No.5, Panampillay
Nagar, District Ernakulam - 682036, Kerala |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.03.2006 |
|
|
|
|
Com. Reg. No.: |
08-019300 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.95.450 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15127KL2006PTC019300 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNM01934C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM6266F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Marine Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 450000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Reserve
appears to be low. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
caution. Latest profit and loss account of the company not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
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 PARTED BY (FINANCIAL DETAILS)
|
Name : |
Ms. Rani |
|
Designation : |
Account Executive |
|
Contact No.: |
91-478-2872233 |
|
Date : |
29.09.2012 |
LOCATIONS
|
Registered Office : |
G-255, 1st Floor, Div. No. XXVII, Door No.5, Panampillay
Nagar, District Ernakulam - 682036, |
|
Tel. No.: |
91-484-2319495 / 496 |
|
Fax No.: |
91-484-2310063 |
|
E-Mail : |
|
|
|
|
|
Plant : |
II/722/D, Chemical Industrial Estate, Aroor, Alleppy - 688534, |
|
Tel. No.: |
91-478-2872388 / 389 / 233 / 477 / 555 |
|
Fax No.: |
91-478-2872111 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dominic Sebastian |
|
Designation : |
Managing Director |
|
Address : |
76, Kairali Apartments, Panampilly Nagar, |
|
Date of Birth/Age : |
11.10.1955 |
|
Date of Appointment : |
31.03.2006 |
|
PAN No.: |
AEMPS1155G |
|
DIN No.: |
00409692 |
|
|
|
|
Name : |
Mrs. Geena Joy Dominic |
|
Designation : |
Director |
|
Address : |
Flat 88, Kairali Apartments, Panampilly Nagar, |
|
Date of Birth/Age : |
15.09.1966 |
|
Date of Appointment : |
31.03.2006 |
|
PAN No.: |
ACZPD6511C |
|
DIN No.: |
01443526 |
|
|
|
|
Name : |
Wu Chiu Ying |
|
Designation : |
Director |
|
Address : |
16B, |
|
Date of Birth/Age : |
20.09.1960 |
|
Date of Appointment : |
10.05.2006 |
|
DIN No.: |
02292148 |
KEY EXECUTIVES
|
Name : |
Ms. Rani |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Dominic Sebastian |
|
11475 |
|
Geena Joy Dominic |
|
11475 |
|
Takao Igeta |
|
3675 |
|
Moon International Trading Limited, |
|
526208 |
|
Smark Ocean Enterprises Limited, |
|
383294 |
|
Wu Chiu Ying |
|
18375 |
|
Total |
|
954502 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
95.29 |
|
Directors or relatives of Directors |
4.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Marine Products. |
PRODUCTION STATUS
As on 31.03.2011
|
|
Unit |
31.03.2011 |
|
Licensed Capacity |
M.T. |
55 |
|
Installed Capacity (As certified by the management) |
M.T. |
55 |
|
Production (The production does not include reprocessed quantity of 38,152.50kg) |
Kg. |
596,569.49 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Syndicate Bank, Shanmugham
Road branch (BIC 4300), Pioneer Towers, 1st Floor, Ernakulam - 682031,
Kerala, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jose and Associates Chartered Accountants |
|
Address : |
41/695, Chittoor Road, Cochin – 682018, Kerala, India |
|
Tel. No.: |
91-484-2391443/2391939 |
|
PAN No.: |
AADFK7018B |
|
|
|
|
PROPRIETORY
BUSINESS OF A DIRECTOR : |
· AML Ice |
|
|
·
|
|
FOREIGN COMPANY IS
A SHARE HOLDER OF THIS COMPANY : |
· Smark Ocean Enterprises Limited · Moon International Trading Limited |
|
|
·
|
|
DIRECTOR IS A
DIRECTOR OF THAT COMPANY: |
· Moonahi Oceanic Foods (India) Private Limited · Moonkihanda Seafoods Private Limited · Moon Sashmi Seafoods Private Limited · Moonsushi Aquatic Foods Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
975000 |
Equity Shares |
Rs.100/- each |
Rs.97.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
954502 |
Equity Shares |
Rs.100/- each |
Rs.95.450
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 |
95.450 |
95.450 |
75.013 |
|
|
2] Share Application Money |
0.000 |
0.000 |
20.438 |
|
|
3] Reserves & Surplus |
17.307 |
19.196 |
9.593 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
112.757 |
114.646 |
105.044 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.209 |
65.727 |
84.552 |
|
|
2] Unsecured Loans |
34.145 |
9.753 |
3.008 |
|
|
TOTAL BORROWING |
94.354 |
75.480 |
87.560 |
|
|
DEFERRED TAX LIABILITIES |
0.390 |
0.544 |
1.651 |
|
|
|
|
|
|
|
|
TOTAL |
207.501 |
190.670 |
194.255 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
140.551 |
145.860 |
156.459 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
Expenditure pending allocation |
1.434 |
2.535 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
25.738
|
16.112 |
20.026 |
|
|
Sundry Debtors |
31.012
|
92.389 |
39.277 |
|
|
Cash & Bank Balances |
6.080
|
30.856 |
43.856 |
|
|
Other Current Assets |
0.174
|
0.162 |
0.450 |
|
|
Loans & Advances |
11.200
|
14.442 |
25.453 |
|
Total
Current Assets |
74.204
|
153.961 |
129.062 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.839
|
107.140 |
85.705 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.607 |
|
|
Provisions |
2.718
|
5.467 |
5.058 |
|
Total
Current Liabilities |
9.557
|
112.607 |
91.370 |
|
|
Net Current Assets |
64.647
|
41.354 |
37.692 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.869 |
0.921 |
0.104 |
|
|
|
|
|
|
|
|
TOTAL |
207.501 |
190.670 |
194.255 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
|
226.675 |
NA |
|
|
|
Other Income |
|
NA |
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
258.063 |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
258.063 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
1.309 |
NA |
|
|
|
|
|
|
|
|
|
|
TAX |
|
(0.819) |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
2.128 |
15.882 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
2.23 |
NA |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
320.000 |
320.000 |
Expected Sales (2012-2013) : Rs.600.000 Millions
(As per confirmed by Ms. Rani Account Executive subject has started
business activity from November, 2007)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
0.44 |
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.01 |
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92
|
1.64 |
1.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.76
|
1.37 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
|
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
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U15127KL2006PTC019300 |
|
Name of the company |
MOON FISHERY (INDIA) PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
G-255, 1st Floor, Div. No. XXVII, Door No.5, Panampillay Nagar, District Ernakulam - 682036, Kerala, India E-mail Id : nxtgen19@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10282715 |
|
Type of charge |
Others (Stock- RM, WIP, Finished goods meant for exports) |
|
Particular of charge holder |
Syndicate Bank, Shanmugham Road branch (BIC 4300), Pioneer Towers, 1st Floor, Ernakulam - 682031, Kerala, India E-mail id : kl.4300ekmsrd@syndicatebank.co.in |
|
Nature of instrument creating charge |
Composite Hypothecation Agreement dated 30/03/2012 Confirmation of Deposit of Title Deeds dated 07/03/2011 |
|
Date of instrument Creating the charge |
30.03.2012 |
|
Amount secured by the charge |
Rs.115.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest ROI = Bank Rate + 1.25% Terms of Repayment PCL shall be liquidated within 270 days of availing the same Margin For PCL of Rs.32.500 Millions -margin is 25% on FOB value For FDBP/FUBP-NLC of Rs.10.000 Millions -margin is Nil For Adhoc PCL of Rs.20.000 Millions -margin is 25% on FOB value For FDBP / FUBP-LC of Rs.27.500 Millions -margin is Nil For Term Loan of 25.000 Millions - margin is 35%-building, 25%- machinery Extent and Operation of the charge As per the standard covenant and other covenants agreed to with the charge holder. Others Collateral Security: 1 acre 12.002 cents of land (92.002 cents in Sy. Nos: 430/1-2, 2-3, 430/1-2, 2-5, 470-417, 407/4 AB and 20 cents in Sy. Nos: 407/16-4 (part). 430/ 1-2-25-1-2 of Aroor village, cherthala Taluk, alappuzha dist allotted by District Industries Centre, Alappuzha, with factory building, plant and machinery in it valued at Rs.131.663 Millions) Guarantors: Mr. Dominic Sebastian : Mrs. Geena Dominic |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Charge by hypothecation of stock (raw material, work in progress, finished goods) Collateral Security: 1 acre 12.002 cents of land |
|
Particulars of the present modification |
Modification of charge by Rs. 52.500 Millions Creation of charge on 07/03/2011 for Rs.62.500 Millions Total charge value Rs. 115.000 Millions |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Equipments
· Boats
· Vehicles
· Computers
· Furniture and Fixtures
· Electrification
AS PER WEBSITE DETAILS
PRESS RELEASE
MOON FISHERY (INDIA) PRIVATE LIMITED RECALLS ITS "TUNA STRIPS"
PRODUCT OF INDIA "AA" OR "AAA" GRADE BECAUSE OF POSSIBLE
HEALTH RISK
MAY 9, 2012
Moon Fishery (India) Private Limited, the
Manufacturer of the Yellow Fin Tuna Nakaochi Scrape that was recently recalled
by a U.S. Distributor, is also recalling its 22 pound cases of "Tuna
Strips" Product of India AA or AAA GRADE because they have the potential
to be contaminated with Salmonella, an organism which can cause serious and
sometimes fatal infections in young children, frail or elderly people, and
others with weakened immune systems. Healthy persons infected with Salmonella
often experience fever, diarrhea, nausea, vomiting and abdominal pain.
Consumers should take precautions when choosing to eat raw seafood and be sure
that the raw tuna they decide to consume is not from the implicated lots. If in
doubt, don't eat it.
Moon India became aware of the problem after
the FDA sampled tuna strips from a lot not yet in distribution. However as a
cautionary measure Moon India agreed to recall tuna strips that were already
distributed, none of which is from the suspect lot sampled by FDA. Distribution
of these AA or AAA Grade Tuna Strips Product of India is limited to 4
wholesalers: one in Georgia, one in Massachusetts, one in New Jersey and one in
New York.
The wholesalers may have broken the shipments
into smaller lots for further distribution. The frozen raw yellow fin tuna
product was originally packaged in white boxes with black writing naming the
importer as Moon Marine USA Corporation, a separate and independent company,
and identifying the contents as Tuna Strips AA or AAA, Product of India. The
boxes contain several vacuum-wrapped packages with no further labeling.
Distribution of the product has been suspended
while FDA and the company continue their investigation as to the scope of the
problem.
Product sellers, including distributors and
restaurants, should consult their suppliers to determine whether the Tuna
Strips from India in their possession originated from Moon India. The product
may not be accompanied by lot numbers or labeling information.
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.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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 |
- |
7
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.