|
Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MIRCHANDANI AND COMPANY PRIVATE LIMITED (w.e.f. 24.05.2007) |
|
|
|
|
Formerly Known
As : |
MIRCHANDANI AND COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Office No.507, 5th Floor, Mahalaxmi Chambers, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.04.1970 |
|
|
|
|
Com. Reg. No.: |
11-014601 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400MH1970PTC014601 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14706G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM2811J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject act as a Contractor of Government Construction Projects. |
|
|
|
|
No. of Employees
: |
16 (Approximately) |
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 250000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Mr. Sudhir, Finance Executive confirmed that till 2011 the subject was
engaged in trading activity for book and magazine. From the year 2011, the subject has changed it line of business as a
contractor of government construction projects. Profit and Loss statement of the company is not made available. Mr. Sudhir has confirmed that the subject has achieved revenue of
Rs.150.000 Millions during 2012 which is not verified. 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
cautions. |
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 PARTED BY
|
Name : |
Mr. Sudhir |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-42318888 |
|
Date : |
29.10.2012 |
LOCATIONS
|
Registered Office : |
Office No.507, 5th Floor, Mahalaxmi Chambers, 22 Bhulabhai
Desai Road, Mumbai – 400026, Maharashtra, India |
|
Tel. No.: |
91-22-42318888/ 23540222 |
|
Fax No.: |
91-22-23512817 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Deepak Ghanshyam Mirchandani |
|
Designation : |
Director |
|
Address : |
71-B, Urvashi B Building, 66-L, Jagmohandas Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
07.05.1956 |
|
Date of Appointment : |
22.05.1996 |
|
DIN No.: |
00323447 |
|
|
|
|
Name : |
Mrs. Heena Deepak Mirchandani |
|
Designation : |
Director |
|
Address : |
71-B, Urvashi B Building, 66-L, Jagmohandas Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
26.07.1960 |
|
Date of Appointment : |
02.04.2002 |
|
DIN No.: |
00323415 |
|
|
|
|
Name : |
Mrs. Padmini Mirchandani |
|
Designation : |
Director |
|
Address : |
7-Palm Court, 152- M. Karve Road, Churchgate, Mumbai – 400020,
Maharashtra, India |
|
Date of Birth/Age : |
08.10.1953 |
|
Date of Appointment : |
10.03.1987 |
|
DIN No.: |
01299643 |
|
|
|
|
Name : |
Mr. Rishi Deepak Mirchandani |
|
Designation : |
Director |
|
Address : |
71-B, Urvashi B Building, 66-L, Jagmohandas Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
16.11.1981 |
|
Date of Appointment : |
05.08.2011 |
|
DIN No.: |
00323513 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Indra Gulu Advani |
|
1400 |
|
Deepak Ghanshyam Mirchandani Jointly with Heena Deepak Mirchandani |
|
1925 |
|
Ghanshyam Mirchandani HUF |
|
875 |
|
Deepak Ghanshyam Mirchandani Partner of Mirchandani and Company |
|
5800 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject act as a Contractor of Government Construction Projects. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (90 days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (90 days) |
GENERAL INFORMATION
|
Customers : |
Government |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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No. of Employees : |
16 (Approximately) |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Bankers : |
· Standard Chartered Bank Mahalaxmi Branch, Mumbai, Maharashtra, India · HDFC Bank HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India · Union Bank of India Mahalaxmi Branch, Mahalaxmi Chambers, 22 Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P D Saraf and Company Chartered Accountant |
|
Address : |
1103, Arcadia House, 195 Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel No.: |
91-22-30284848 |
|
Fax No.: |
91-22-30284850 |
|
PAN No.: |
AAAFP4494K |
|
Email : |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
61.121 |
66.297 |
53.505 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
62.121 |
67.297 |
54.505 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.413 |
36.287 |
42.730 |
|
|
2] Unsecured Loans |
26.700 |
5.000 |
5.000 |
|
|
TOTAL BORROWING |
71.113 |
41.287 |
47.730 |
|
|
DEFERRED TAX LIABILITIES |
2.892 |
2.900 |
1.111 |
|
|
|
|
|
|
|
|
TOTAL |
136.126 |
111.484 |
103.346 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.252 |
13.726 |
17.582 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
41.654 |
41.613 |
41.612 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.900
|
10.168 |
11.709 |
|
|
Sundry Debtors |
14.274
|
52.017 |
35.119 |
|
|
Cash & Bank Balances |
5.358
|
12.866 |
39.143 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
75.676
|
48.910 |
13.109 |
|
Total
Current Assets |
96.208
|
123.961 |
99.080 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2.013 |
47.819 |
30.034 |
|
|
Other Current Liabilities |
18.975
|
19.997 |
24.894 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
20.988
|
67.816 |
54.928 |
|
|
Net Current Assets |
75.220
|
56.145 |
44.152 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
136.126 |
111.484 |
103.346 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
19.384 |
18.642 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.155 |
1.324 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
18.229 |
17.318 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
5.438 |
3.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
12.791 |
13.704 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.056 |
0.052 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
12.775 |
13.700 |
|
|
BALANCE CARRIED
TO THE B/S |
|
0.072 |
0.056 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1279.10 |
-- |
|
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
150.000 |
50.000 |
110.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.300.000 Millions
The above information has been parted by Mr. Sudhir.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
13.24 |
14.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.27 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.48
|
1.62 |
1.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.58
|
1.83 |
1.80 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
2.013 |
30.853 |
28.844 |
|
Other Creditor |
0.000 |
16.966 |
1.190 |
|
|
|
|
|
|
Total |
2.013 |
47.819 |
30.034 |
|
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 |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U45400MH1970PTC014601 |
|
Name of the
company |
MIRCHANDANI AND COMPANY
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No.507,
5th Floor, Mahalaxmi Chambers, 22 Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
· HDFC Bank HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India CIN No.: L65920MH1994PLC080618 |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Loan and Guarantee. (Barcode No .:
499111135) |
|
Date of
instrument Creating the charge |
07/08/2012 |
|
Amount secured by
the charge |
Rs.0.450 Million |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest @ 11.99
% p.a. Terms of
Repayment The Loan is
repayable in 35 EMIs of Rs.0.015 Million
starting from 20th August, 2012 ending on 20th June, 2015. Margin As may be
stipulated by bank from time to time. Extent and
Operation of the charge The Company
hypothecates to and charges in favour of the Bank by way of first and
exclusive charge of the Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs
and expenses incurred/to be incurred by the Bank and all other monies payable
or to become payable by the company to the Bank. Others The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank's choice without reference to or without written
intimation to the company. |
|
Short particulars
of the property charged |
Hypothecation of Equipment
namely : Mahindra 575 DI Tractor (Year of Manufacture: 2012) |
FIXED ASSETS:
· Office Premises/ Garage
· Furniture and Fixture
· Office Equipment
· Computers
· Air Conditioner
· Electrical Installation
· Motor Cars and Scooters
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.53.81 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.