|
Report Date : |
14.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
FAIRFEST MEDIA LIMITED |
|
|
|
|
Registered
Office : |
25C/1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.09.1988 |
|
|
|
|
Com. Reg. No.: |
21-045101 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.338 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140WB1988PLC045101 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALF00441A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF3839M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is engaged in Organising Trade Fairs and Exibition. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 164000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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.
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 : |
25C/1, Belvedere Road, Alipore, West Bengal- 700027, Kolkata,
India |
|
Tel. No.: |
91- 33-24790010/ 14 |
|
Fax No.: |
91-33-24790019 |
|
E-Mail : |
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|
Website : |
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|
Branches : |
Mumbai : New Delhi: Bangalore : Hyderabad : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Gazanfar Ibrahim |
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|
Designation : |
Whole-time director |
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|
Address : |
34, Robert Street, West Bengal-700012, Kolkata, India |
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Date of Birth/Age : |
28.06.1961 |
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Date of Appointment : |
01.04.2011 |
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Voter ID No.: |
WB/21/145/006489 |
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DIN No.: |
00597253 |
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Other Directorship:
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|
Name : |
Mr. Sanjiv Kumar Jagdish Agarwal |
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|
Designation : |
Managing director |
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|
Address : |
14/149, Golf Club Road, Flat-4A, 4th Floor, West
Bengal-700033, Kolkata, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.09.1963 |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
00600704 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajiv Kumar Jagdish Agarwal |
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|
Designation : |
Whole-time director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
14/149, Golf Club Road, Flat-4A, 4th Floor, West
Bengal-700033, Kolkata, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.06.1962 |
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|
Date of Appointment : |
01.04.2011 |
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|
Voter ID No.: |
LFB3806379 |
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DIN No.: |
00600735 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sanjiv Kumar Agarwal |
|
107201 |
|
Rajiv Kumar Agarwal |
|
33500 |
|
Seema Agarwal |
|
61500 |
|
Poonam Agarwal |
|
52498 |
|
Sanjiv Agarwal and Sons (HUF) |
|
42050 |
|
Rajiv Agarwal and Sons (HUF) |
|
37001 |
|
Harsh Agarwal |
|
100 |
|
Total |
|
333850 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in Organising Trade Fairs and Exibition. |
|
|
|
|
Products/ Services: |
Organization of Fairs Event Management Advertising and Printing Contract |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|||||||||
|
Bankers : |
·
Karnataka Bank Limited, Park Street Branch, 1,
Sarojini Naidu Sarani, West Bengal-700017, Kolkata, India ·
Standard Chartered Bank, Rash Behari Avenue,
Kolkata, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Jagdish Ashok and Company Chartered Accountants |
|
Address : |
304,Elgin Chambers, 1A, Ashutosh Mukherjee Road, West Bengal- 700020, Kolkata,
India |
|
Tel. No.: |
91-33-24767609/ 30527609 |
|
E-Mail : |
|
|
PAN No.: |
AADFJ7617H |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
333850 |
Equity Shares |
Rs.10/- each |
Rs.3.338 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 |
3.339 |
3.339 |
3.339 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
37.669 |
28.961 |
23.740 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
41.008 |
32.300 |
27.079 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.174 |
0.000 |
2.369 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.174 |
0.000 |
2.369 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.182 |
32.300 |
29.448 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.021 |
5.831 |
5.507 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.416 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.045 |
0.045 |
0.045 |
|
|
DEFERRED TAX ASSETS |
0.120 |
0.086 |
0.086 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.248
|
0.144 |
0.036 |
|
|
Sundry Debtors |
49.157
|
45.422 |
37.869 |
|
|
Cash & Bank Balances |
8.809
|
3.675 |
5.057 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
19.239
|
15.492 |
15.432 |
|
Total
Current Assets |
77.453
|
64.733 |
58.394 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.715
|
32.081 |
30.840 |
|
|
Other Current Liabilities |
7.742
|
6.314 |
4.065 |
|
|
Provisions |
0.000
|
0.000 |
0.095 |
|
Total
Current Liabilities |
43.457
|
38.395 |
35.000 |
|
|
Net Current Assets |
33.996
|
26.338 |
23.394 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.182 |
32.300 |
29.448 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Fair Participation and Event Management Receipts |
134.082 |
111.316 |
93.359 |
|
|
|
Other Income |
2.387 |
2.266 |
2.877 |
|
|
|
TOTAL (A) |
136.469 |
113.582 |
96.236 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Expenses |
15.576 |
10.629 |
9.395 |
|
|
|
Operating, Marketing and Administrative Expenses |
105.037 |
93.048 |
79.241 |
|
|
|
Prior Period Expenses |
0.000 |
0.012 |
0.000 |
|
|
|
TOTAL (B) |
120.613 |
103.689 |
88.636 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.856 |
9.893 |
7.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.122 |
0.063 |
0.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION(C-D) (E) |
15.734 |
9.830 |
7.495 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.447 |
1.257 |
1.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX(E-F) (G) (G) |
14.287 |
8.573 |
6.182 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
5.579 |
3.352 |
2.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX(G-I) (J) |
8.708 |
5.221 |
3.773 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.948 |
13.727 |
9.954 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
27.656 |
18.948 |
13.727 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
11.133 |
6.768 |
9.883 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.08 |
15.64 |
11.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.38
|
4.60 |
3.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.66
|
7.70 |
6.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.91
|
12.15 |
9.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.27 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
1.19 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
1.69 |
1.67 |
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 |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
Operation:
During the financial year, the total revenue of the company has gone up
by 20.15% to Rs.113.600 millions in the previous year and the profit margin
(PAT) has increased from Rs.5.221 millions to Rs.8.708 millions i.e., an increase
of 66.78%. The company is growing steadily year over year. There is bright
future ahead and the company is planning to organize trade fairs outside the country in coming months and/ or
years.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74140WB1988PLC045101 |
|
Name of the
company |
Fairfest Media
Limited |
|
Address of the
registered office or of the principal place of business in |
25c/1,Belvedere Road,
Kolkata, West Bengal-700027, India Email: contact@chetanigroup.com |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90256256 |
|
Type of charge |
Immovable property Book debts |
|
Particular of
charge holder |
Karnataka Bank Limited, Park Street Branch, 1, Sarojini Naidu Sarani,
Kolkata-700017, West Bengal, India Email: bankservices.3005@yahoo.in |
|
Nature of
instrument creating charge |
General Power of
Attorney for Book Debts Guarantee Letter Hypothecation
Agreement Take Delivery
Letter Letter of
Authority |
|
Date of
instrument Creating the charge |
19.08.2011 |
|
Amount secured by
the charge |
Rs.9.500 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BR+4.50%(Spread)
i.e. 14.75% p.a. at present with monthly rests. Terms of Repayment on demand as per
OD rules Margin 25% on book debts Extent and Operation of the charge as per document
attached |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
PRIMARY :
Hypothecation of book debts COLLATERAL :
Already held equitable mortgage of commercial property comprising of 2
storied building, measuring 1404 sqft constructed on the land measuring 1
cottah, 10 chittaks, 16 sq ft bearing no. 25C/1, Belvedere
Road, Kolkata belonging to Mr. Sanjiv Kumar Agarwal and Sons (HUF) and
property valued at Rs.12.761 Millions (Land Rs.8.236 Millions, Bldg and
Others Rs.4.525 Millions and FSV Rs.10.209 Millions as per V.R. dated 18.12.2009
of Mr. Manas Paul |
|
Whether any of the property or interest therein
under reference is not registered in the name of the company |
Mr. Sanjiv Kumar
Agarwal and Sons (HUF) |
|
Date of
instrument modifying the charge |
31.03.2010 |
|
Particulars of
the present modification |
By this
modification the PSOD facility has been renewed with the existing limit of
Rs.9.500 Millions |
FIXED ASSETS:
·
Premises
·
Trade Marks
·
Furniture and Fixture
·
Patent
·
Office Equipment
·
Computer and Accessories
·
Motor Car
·
Bi Cycle
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.55.44 |
|
|
1 |
Rs.89.31 |
|
Euro |
1 |
Rs.71.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
|
|
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
47 |
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.