MIRA INFORM REPORT
|
Report Date : |
19.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SESHAASAI BUSINESS FORMS PRIVATE LIMITED |
|
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|
Registered
Office : |
9, Lalwani Industrial Estate, 14, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.09.1993 |
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Com. Reg. No.: |
11-074023 |
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Capital
Investment / Paid-up Capital : |
Rs.16.950
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U21017MH1993PTC074023 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Services of Offset Printing Solutions and Security Printing Solutions. |
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No. of Employees
: |
Information denied by the management.
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 556000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. 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 : |
Mr. Gautam Sampatraj Jain |
|
Designation : |
Director |
|
Contact No.: |
91-9819863653 |
|
Date : |
18.10.2012 |
LOCATIONS
|
Registered Office : |
9, Lalwani Industrial Estate, 14, |
|
Tel. No.: |
91-22-66624394/24128128 |
|
Mobile No. : |
91-9819863653 (Mr. Gautam Sampatraj Jain) |
|
Fax No.: |
91-22-66624396 |
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E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
B-204, Okhla Industrial Area, Phase-I, Tel.: 91-11-42092900 / 02 Fax : 91-11-42092901 Chennai: Tel.: 91-44-22448386 / 2244 0911 Bangalore: Tel.: 91-80-41171677 / 78 |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Pragnyat Pravin Lalwani |
|
Designation : |
Director |
|
Address : |
4/93, Vijay Niwas, |
|
Date of Birth/Age : |
13.11.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.09.1993 |
|
Din No.: |
01870792 |
|
|
|
|
Name : |
Mr. Gautam Sampatraj Jain |
|
Designation : |
Director |
|
Address : |
234/235, |
|
Date of Birth/Age : |
04.09.1971 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.09.1993 |
|
Din No.: |
02060629 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pragnyat Pravin Lalwani |
|
66000 |
|
Gautam Sampatraj Jain |
|
66000 |
|
Seshaasai E-Forms Private Limited, India |
|
37500 |
|
|
|
|
|
TOTAL
|
|
169500 |
AS ON 26.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
22.12 |
|
Directors
or relatives of directors |
|
77.88 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Services of Offset Printing Solutions and Security Printing Solutions. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management.
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Bankers : |
Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing Mills
Compound, P B Marg, Worli, Mumbai-400025, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J C Shah And Associates Chartered Accountant |
|
Address : |
B-10, Super Shopping Complex, DR. Dalvi Road, Kandiwali (West), Mumbai
– 400067, Maharashtra, India |
|
PAN No: |
ANRPS0078C |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
169500 |
Equity Shares |
Rs.100/-
each |
Rs.16.950
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 |
16.950 |
15.350 |
15.350 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
122.137 |
86.843 |
58.586 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
139.087 |
102.193 |
73.936 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
309.150 |
262.626 |
126.210 |
|
|
2] Unsecured Loans |
72.950 |
60.619 |
55.949 |
|
|
TOTAL BORROWING |
382.100 |
323.245 |
182.159 |
|
|
DEFERRED TAX LIABILITIES |
25.750 |
14.760 |
15.690 |
|
|
|
|
|
|
|
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TOTAL |
546.937 |
440.198 |
271.785 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
377.012 |
335.094 |
238.920 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.500 |
0.500 |
1.338 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
160.656
|
136.823 |
49.684 |
|
|
Sundry Debtors |
186.211
|
119.272 |
62.420 |
|
|
Cash & Bank Balances |
14.300
|
14.484 |
4.780 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
64.459
|
57.202 |
55.124 |
|
Total
Current Assets |
425.626
|
327.781 |
172.008 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
231.140
|
216.083 |
138.082 |
|
|
Other Current Liabilities |
27.387
|
10.655 |
6.814 |
|
|
Provisions |
1.588
|
3.070 |
2.117 |
|
Total
Current Liabilities |
260.115
|
229.808 |
147.013 |
|
|
Net Current Assets |
165.511
|
97.973 |
24.995 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
3.914 |
6.631 |
6.532 |
|
|
|
|
|
|
|
|
TOTAL |
546.937 |
440.198 |
271.785 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
845.129 |
616.876 |
|
|
|
Other Income |
|
4.163 |
9.136 |
|
|
|
TOTAL (A) |
982.721 |
849.292 |
626.012 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Overheads |
|
646.856 |
490.669 |
|
|
|
Payment and Emoluments to Employees |
|
58.243 |
41.213 |
|
|
|
TOTAL (B) |
864.968 [Including
Financial Expenses] |
705.099 |
531.882 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
144.193 |
94.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
36.845 |
18.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.753 |
107.348 |
76.127 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
66.017 |
61.841 |
42.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
51.736 |
45.507 |
34.050 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.990 |
13.670 |
6.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
28.746 |
31.837 |
27.451 |
|
|
|
|
|
|
|
|
|
Add/ Less |
EXCESS SHORT
PROVISION FOR TAX |
0.000 |
0.000 |
0.726 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
53.868 |
30.611 |
11.364 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1.588 |
3.070 |
2.118 |
|
|
|
Tax on Dividend |
0.264 |
0.510 |
0.360 |
|
|
|
Transferred to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
BALANCE CARRIED
TO THE B/S |
75.762 |
53.868 |
30.611 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
169.59 |
207.00 |
253.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.93
|
3.75 |
4.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.38 |
5.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.45
|
6.87 |
8.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.45 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.62
|
5.41 |
4.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.43 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
SUNDRY CREDITORS |
|
|
|
|
For Goods |
187.551 |
205.154 |
125.649 |
|
For Expenses |
31.208 |
6.182 |
6.326 |
|
For Capital Goods
|
12.381 |
4.747 |
6.107 |
|
TOTAL |
231.140 |
216.083 |
138.082 |
|
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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10204251 |
|
Corporate
identity number of the company |
U21017MH1993PTC074023 |
|
Name of the
company |
SESHAASAI
BUSINESS FORMS PVT LTD |
|
Address of the registered
office or of the principal place of
business in |
9, Lalwani Industrial Estate, 14, |
|
Type of charge |
Immovable
Property Others |
|
Particular of
charge holder |
Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing Mills
Compound, P B Marg, Worli, Mumbai-400025, Maharashtra, India |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
Link Agreement
(LA) dated 25.05.2012 |
|
Date of
instrument Creating the charge |
25.05.2012 |
|
Amount secured by
the charge |
Rs.237.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Letter No. AXIS/SME/MUMBAI-II/SR/68/2012-13 dated 07.05.2012 or as stipulated
by Bank from time to time. Terms of Repayment As per Sanction
Letter No. AXIS/SME/MUMBAI-II/SR/68/2012-13 dated 07.05.2012 or as stipulated
by Bank from time to time. Margin As per Sanction
Letter No. AXIS/SME/MUMBAI-II/SR/68/2012-13 dated 07.05.2012 or as stipulated
by Bank from time to time. Extent and Operation of the charge Within the
overall limits of Rs.237.600 Millions secured by EM on Imm. Properties of the
Co., Bank permitted Bank Guarantee limit of Rs.10.000 Millions as a sub limit
to LC limit. Save and except above there is no other change and security inter
alia by way of mortgage created on Imm. Properties of the Company shall
continue and amount secured by the charge remain unchanged at Rs.237.600
Millions |
|
Short particulars
of the property charged |
Mortgage by way of
deposit of Title Deeds in resp. of Imm. Properties of the Company situated at
Subhash Nagar, Jeedimetla Village, Quthubullapur Mandal, Ranga Reddy Dist.,
Andhra Pradesh. Mortgage by way
of deposit of Title Deeds in respect of immovable Properties of the Company
at C-402, TTC, MIDC, Turbhe, Navi Mumbai – 400705 Mortgage by way
of deposit of Title Deeds in respect of immovable Properties of the Company
at C-452, TTC, MIDC, Turbhe, Navi Mumbai – 400705 Mortgage by way
of deposit of Title Deeds in respect of immovable Properties of Co. at
Industrial Plot No.381 in Industrial
Estate, Sector 57,Phase IV, Kundh adm.1800 sq. mtrs., Dist. Sonipat All that piece
and parcel of land adm.540 sq. mtrs (together with Factory Bldg.thereon)
bearing Plot No.C-398 in Trans Thane Creek Industrial Estate Area, Vill.
Turbhe, Dist. Thane All that piece
and parcel of land adm.540 sq.mtrs along with Factory being Built-up Area
adm.209.91sq.mtrs bearing Plot No.C-399 in
"Trans Thane Creek Industrial Estate Area" Vill. Turbhe, Dist.
Thane Mortgage by
deposit of title deeds in respect of imm. Property bearing Plot No. C 342 TTC
Indl. Are, Navi Mumbai, Thane admg. 1000 sq. mtrs. |
|
Date of latest
modification prior to the present modification |
31.03.2012 |
|
Particulars of the
present modification |
Within the
overall limits of Rs.237.600 Millions secured by EM on Imm. Properties of the
Co., Bank permitted Bank Guarantee limit of Rs.10.000 Millions as a sub limit
to LC limit. Save and except above there is no other change and security
inter alia by way of mortgage created on Imm. Properties of the Company shall
continue and amount secured by the charge remain unchanged at Rs.237.600
Millions |
FIXED ASSETS:
- Plant and Machinery
- Electric Installation
- Computer and Data processing System
- Office Equipment
- Fire Extinguisher
- Furniture and Fixture
- Vehicles
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.97 |
|
|
1 |
Rs.85.45 |
|
Euro |
1 |
Rs.69.45 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.