|
Report Date : |
01.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
FREEDOM OPTHALMIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-2 Arun Apartments No.207, Lakshmi Ammal Street, Ayyavoo Naidu
Colony, Aminjikarai, Chennai – 600029 , Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.11.2005 |
|
|
|
|
Com. Reg. No.: |
18-058109 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201TN2005PTC058109 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEF03444A CHEF03375B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF9331L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Opthalmic Medical Devices. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 65000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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) |
|
India |
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
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.
LOCATIONS
|
Registered Office : |
B-2 Arun Apartments No.207, Lakshmi Ammal Street, Ayyavoo
Naidu Colony, Aminjikarai, Chennai – 600029 , Tamil Nadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Manufacturing Unit : |
Plot
# 31, Phase 1,SIPCOT, Hosur - 635126, Tamil Nadu, India |
|
Tel. No.: |
91-4344-274096 |
|
Fax No.: |
91-4344-274062 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Balakrishnan Ethiraj |
|
Designation : |
Director |
|
Address : |
A-33, SIPCOT Housing Colony, Dharga, Hosur – 653126, Tamilnadu, India |
|
Date of Birth/Age : |
16.06.1933 |
|
Date of Appointment : |
25.11.2005 |
|
DIN No.: |
01666650 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U33201TN2005PTC058109 |
FREEDOM
OPTHALMIC PRIVATE LIMITED |
Director |
25/11/2005 |
25/11/2005 |
- |
Active |
NO |
|
2 |
U33115TN2011PTC078676 |
INDI
LENS MANUFACTURING PRIVATE LIMITED |
Director |
04/01/2011 |
04/01/2011 |
- |
Active |
NO |
|
3 |
U33110TN2012PTC083883 |
FREEDOM
BIO PHARMA PRIVATE LIMITED |
Director |
05/01/2012 |
05/01/2012 |
- |
Active |
NO |
|
Name : |
Mr. Kannayiram Govindasamy |
|
Designation : |
Director |
|
Address : |
No.56, 3rd East Cross Street, Amaravathy Nagar, Arumbakkam,
Chennai – 600106, Tamilnadu, India |
|
Date of Birth/Age : |
17.04.1961 |
|
Date of Appointment : |
25.11.2005 |
|
DIN No.: |
01772355 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U33201TN2005PTC058109 |
FREEDOM
OPTHALMIC PRIVATE LIMITED |
Director |
25/11/2005 |
25/11/2005 |
- |
Active |
NO |
|
2 |
U33110TN2012PTC083883 |
FREEDOM
BIO PHARMA PRIVATE LIMITED |
Director |
05/01/2012 |
05/01/2012 |
- |
Active |
NO |
|
3 |
U33110TN2012PTC084719 |
FREEDOM
MICROSURGICAL INSTRUMENTS PRIVATE LIMITED |
Director |
01/03/2012 |
01/03/2012 |
- |
Active |
NO |
|
Name : |
Mr. Elango Veera Balakrishnan |
|
Designation : |
Director |
|
Address : |
5113, Brockworth Drive, Mississauga On, Canada L5V1S1 |
|
Date of Birth/Age : |
23.12.1960 |
|
Date of Appointment : |
07.07.2006 |
|
DIN No.: |
03174160 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Balakrishnan Ethiraj |
|
350000 |
|
Kannayiram Govindasamy |
|
350000 |
|
Bala Manmeghalai |
|
50000 |
|
S Mangathai |
|
250000 |
|
Total |
|
1000000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Opthalmic Medical Devices. |
|
|
|
|
Products : |
·
PMMA - IOL'S ·
Hydrophillic Foldable IOL'S ·
Freedom I- JET ·
Freedom Ring ·
Freedom Surgical Blades |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
ING Vysya Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Tamilnadu
Industrial Investment Corporation Limited, No.692, Anna Salai, Nandanam ,
Chennai - 600035, Tamil Nadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
S. SUDHAKAR Chartered Accountant |
|
Address : |
No: 647/1B3, III Floor, CVN Excellency, Bangalore Bypass, Hosur –
635109, Tamil Nadu, India |
|
PAN No.: |
BETPS33358R |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.10/- each |
Rs.12.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.271 |
2.437 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.109) |
|
|
NETWORTH |
16.271 |
12.437 |
9.891 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12.872 |
6.233 |
3.163 |
|
|
2] Unsecured Loans |
15.206 |
12.737 |
11.388 |
|
|
TOTAL BORROWING |
28.078 |
18.970 |
14.551 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44.349 |
31.407 |
24.442 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
52.464 |
38.390 |
25.912 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.589
|
1.561 |
1.451 |
|
|
Sundry Debtors |
13.028
|
5.697 |
15.583 |
|
|
Cash & Bank Balances |
18.824
|
9.295 |
0.468 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.662
|
2.762 |
0.707 |
|
Total
Current Assets |
38.103
|
19.315 |
18.209 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
44.021
|
25.557 |
19.342 |
|
|
Other Current Liabilities |
0.052
|
0.032 |
0.039 |
|
|
Provisions |
2.240
|
0.820 |
0.425 |
|
Total
Current Liabilities |
46.313
|
26.409 |
19.806 |
|
|
Net Current Assets |
(8.210)
|
(7.094) |
(1.597) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.095 |
0.111 |
0.127 |
|
|
|
|
|
|
|
|
TOTAL |
44.349 |
31.407 |
24.442 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
99.161 |
55.826 |
34.136 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
99.161 |
55.826 |
34.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
94.412 |
52.808 |
33.078 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
94.412 |
52.808 |
33.078 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.749 |
3.018 |
1.058 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.915 |
0.742 |
0.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.834 |
2.546 |
1.018 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
35.103 |
7.600 |
4.050 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.83 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.87
|
4.56 |
2.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.25
|
5.23 |
2.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.24 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.57
|
3.65 |
3.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.73 |
0.92 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
No |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U33201TN2005PTC058109 |
|
Name of the company |
FREEDOM OPTHALMIC PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
B-2 Arun Apartments No.207, Lakshmi Ammal Street, Ayyavoo Naidu Colony, Aminjikarai, Chennai – 600029 , Tamil Nadu, India E-mail Id : accounts@freedomophthalmic.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Tamilnadu Industrial Investment Corporation Limited, No.692, Anna Salai, Nandanam , Chennai - 600035, Tamil Nadu, India E-Mail Id : rmsalem@tiic.in |
|
Nature of instrument creating charge |
1. Unattested Hypothecation deed dated 08th february 2012 2. Extension of creation an equitable mortgage deposit of title deeds (No instruments executed) |
|
Date of instrument Creating the charge |
08.02.2012 |
|
Amount secured by the charge |
Rs.8.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of interest will be 14.25% pa Terms of Repayment First 10 monthly installments Rs.0.100 Million each= Rs.1.000 Million Second 20 monthly installments Rs.0.140 Million each = Rs.2.800 Millions Third 20 monthly installments Rs.0.170 Million each = Rs.3.400 Millions Last 4 monthly incitements Rs.0.200 Million each =Rs.0.800 Millinos Margin A.15% for new machinery and second hand machinery to be imported. B. 25% for purchase of locally used second hand imported machinery C. 30% for second hand indigenous machinery Extent and Operation of the charge Term loan of Rs.8.000 Millions secure first charge on 1. Land admeasuring about 13524 sq ft owned by the company at s.nos 373(p) and 375(p), Plot No.31, Sipcot Industrial Complex, Phase-1, Hosur and building constructed thereon. 2. All machineries erected and to be eracted at s. No 373(p) & 375(p), Plot No.31, Sipcot Industrial Complex, Phase-1, Hosur |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
1. Land admeasuring about 13524 sq ft owned by the company at S.nos 373(P) & 375(p), plot No.31, Sipcot industrial complex, Phase-1, Hosur and building constructed thereon. All machineries erected and to be eracted at S.no 373(P) & 375(p), plot No.31, Sipcot industrial complex, Phase-1, Hosur |
FIXED ASSETS:
· Vehicles
· Factory
· Computers
· Laptop
· Computer Parts and Spares
· Land and Building
· Furniture and Fittings
· Plant and Machinery
· Printer
· Water Filter
· Refrigerator
· Air Conditions
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
organizationor 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.52.70 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.