MIRA
INFORM REPORT
|
Report Date : |
15.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEGA FIBRE PRIVATE LIMITED |
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Registered
Office : |
S 164, M.I.D.C. Bhosari, Pune – 411 026, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
12.03.1990 |
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Com. Reg. No.: |
11-055761 |
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Capital
Investment / Paid-up Capital : |
Rs. 19.420 millions |
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CIN No.: [Company Identification
No.] |
U34201PN1990PTC055761 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM00938A PNEM09974G |
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PAN No.: [Permanent Account No.] |
AABCM1598B |
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Central Sales
Tax No.: |
27450003338 C |
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TIN No. / VAT
No.: |
27450003338 V |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Deemed Exporter, Supplier and Service Provider for
Plastic and FRP Products |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 120000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate. Profitability of the
company 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 dealing 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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.
LOCATIONS
|
Registered Office : |
S 164, M.I.D.C. Bhosari, Pune – 411 026, Maharashtra, India |
|
Tel. No.: |
91-20-30680600 |
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Mobile No.: |
91-9850076600 (Mr. Koustubha Kelkar) |
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Fax No.: |
91-20-27121272 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vishwesh Kumar Gadekar |
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Designation : |
Director |
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Address : |
23, Laxmi Housing Society, Senapati Bapat Road, Pune – 411 016,
Maharashtra, India |
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Date of Birth/Age : |
13.10.1976 |
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Date of Appointment : |
01.04.2001 |
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DIN No.: |
01800990 |
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Other Directorship:
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Name : |
Mr. Kumar Shriram Gadekar |
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Designation : |
Director |
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Address : |
Plot No. 23, F P No. 430 – A, Senapati Bapat Road, LaxmiCo So, Pune –
411 016, Maharashtra, India |
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Date of Birth/Age : |
24.12.1947 |
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Date of Appointment : |
20.02.1991 |
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DIN No.: |
01801018 |
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KEY EXECUTIVES
|
Name : |
Mr. Koustubha Kelkar |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS
As on 30.09.2011
|
Names of Equity
Shareholders |
|
No. of Shares |
|
Kumar Gadekar |
|
37403 |
|
Beena Gadekar |
|
49106 |
|
Jayesh Gadekar |
|
10250 |
|
Vishwesh Gadekar |
|
28333 |
|
Supriya Gadekar |
|
3251 |
|
K.Y.Kotkar and Beena Gadekar |
|
1844 |
|
Mohan T. Sahani |
|
1 |
|
P K Bannerjee |
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1 |
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Shobha Kotkat and Beena Gadekar |
|
1501 |
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Yuga Gadekar |
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45683 |
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Usha Athawale and Beena Gadekar |
|
1 |
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Pallavi Shah |
|
1 |
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Mrs. Aruna Deepak Naik |
|
1 |
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Gaurang Parekh and Yuga Gadekar |
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1 |
|
Suhas Parekh |
|
501 |
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Sudarshan A. Bangia |
|
1 |
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Supriya J Gadekar |
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1 |
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Shilpa D Sorap C/O Mr. K Y kotkar |
|
1 |
|
|
|
|
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TOTAL |
|
177881 |
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Names of Preference
Shareholders |
|
No. of Shares |
|
Beena Gadekar |
|
7864 |
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Kumar Gadekar |
|
4387 |
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Shobha Kotkar |
|
397 |
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Vishwesh Gadekar |
|
3186 |
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Jayesh Gadekar |
|
450 |
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Supriya J Gadekar |
|
7 |
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Shilpa D Sorap |
|
10 |
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Supriya Khot |
|
10 |
|
Sudarshan A. Bangia |
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2 |
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N. Chawla |
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2 |
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|
|
|
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TOTAL |
|
16315 |
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, Deemed Exporter, Supplier and Service Provider for Plastic
and FRP Products |
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Products : |
·
FRP and GRP cabins ·
FRP booths and boards ·
Portable cabins ·
Security cabins ·
Toilet cabins |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
FRP Auto Components |
Nos |
Not Applicable |
116000 |
|
Back Lit Signages |
Nos |
Not Applicable |
4200 |
|
Cabins of Various Sizes |
Nos |
Not Applicable |
1000 |
|
Various sizes of Auto Components in Vacuum, Thermal forming process |
Nos |
Not Applicable |
360000 |
|
FRP Hand lay up |
Nos |
Not Applicable |
120000 |
GENERAL INFORMATION
|
Customers : |
·
TATA Motors ·
Mahindra ·
Asia Motors ·
Piaggio ·
TATA-Hitachi ·
John Deer ·
Atlas ·
CPS ·
IOC ·
HP ·
BP ·
Vijay Milk ·
CCD ·
BNatural ·
MDL ·
Neyveli |
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No. of Employees : |
Not Available |
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Bankers : |
·
Cosmos Co-operative Bank Limited (Chinchwad
Branch), 269 / 270, Shaniwar Peth, Pune – 411 030, Maharashtra, India ·
Small Industries Development Bank of India, Jeevan
Shree Building, Ground Floor, Plot No. 488, Ganeshkhind Road, Shivajinagar,
Pune – 411 005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. G. Sahasrabudhe Chartered Accountants |
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Address : |
Flat No. 4, Bhagirathi Corners, 1187 / 27, Shivajinagar, Pune – 411
005, Maharashtra, India |
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Tel. No.: |
91-20-66019317 / 24453750 |
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E-Mail : |
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PAN No.: |
ADXPS4400N |
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Memberships : |
International Organization for Standardization ISO 9001 : 2008 |
CAPITAL STRUCTURE
As on 30.09.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
208000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.800 millions |
|
17000 |
Preference Shares |
Rs. 100/- each |
Rs. 1.700 millions |
|
|
|
|
|
|
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TOTAL |
|
Rs.
22.500 millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
177881 |
Equity Shares |
Rs. 100/- each |
Rs. 17.788
millions |
|
16315 |
Preference Shares |
Rs. 100/- each |
Rs. 1.632
millions |
|
|
|
|
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TOTAL |
|
Rs. 19.420 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
19.420 |
19.420 |
19.420 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.696 |
5.733 |
0.173 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
32.116 |
25.153 |
19.593 |
|
|
LOAN FUNDS |
|
|
|
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1] Secured Loans |
63.941 |
55.603 |
49.707 |
|
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2] Unsecured Loans |
2.453 |
2.871 |
6.423 |
|
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TOTAL BORROWING |
66.394 |
58.474 |
56.130 |
|
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DEFERRED TAX LIABILITIES |
0.371 |
0.332 |
0.328 |
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|
|
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TOTAL |
98.881 |
83.959 |
76.051 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
28.979 |
23.475 |
21.369 |
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Capital work-in-progress |
6.080 |
7.469 |
7.469 |
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|
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INVESTMENT |
0.224 |
0.224 |
0.225 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
22.334
|
15.967 |
15.593 |
|
|
Sundry Debtors |
51.940
|
42.166 |
36.228 |
|
|
Cash & Bank Balances |
5.495
|
4.236 |
2.855 |
|
|
Other Current Assets |
14.422
|
13.158 |
10.740 |
|
|
Loans & Advances |
9.650
|
8.569 |
7.866 |
|
Total
Current Assets |
103.841
|
84.096 |
73.282 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.340
|
21.027 |
14.395 |
|
|
Other Current Liabilities |
0.026
|
0.027 |
0.032 |
|
|
Provisions |
7.914
|
12.538 |
16.455 |
|
Total
Current Liabilities |
41.280
|
33.592 |
30.882 |
|
|
Net Current Assets |
62.561
|
50.504 |
42.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.037 |
2.287 |
4.588 |
|
|
|
|
|
|
|
|
TOTAL |
98.881 |
83.959 |
76.051 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
216.601 |
138.331 |
85.338 |
|
|
|
Other Income |
1.843 |
0.239 |
3.181 |
|
|
|
TOTAL |
218.444 |
138.570 |
88.519 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
211.757 |
136.533 |
88.146 |
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
6.687 |
2.037 |
0.373 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.276 |
(3.523) |
1.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
6.963 |
5.560 |
1.477 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
35.85 |
31.26 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.18
|
4.01 |
1.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
362.83
|
852.30 |
11.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.03
|
1.89 |
0.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.08 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.35
|
3.66 |
4.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51
|
2.50 |
2.37 |
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 |
Yes |
|
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 |
U34201PN1990PTC055761 |
|
Name of the
company |
MEGA FIBRE
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S 164,M.I.D.C
Bhosari, Pune – 411026, Maharashtra, India e-mail: megafibre@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10128277 |
|
Type of charge |
Book Debts Immovable
Property Movable property Floating Charge |
|
Particular of
charge holder |
Cosmos Co-operative Bank Limited (Chinchwad Branch), 269 / 270,
Shaniwar Peth, Pune – 411 030, Maharashtra, India e-mail: mandevazecs@vsnl.net |
|
Nature of
description of the instrument creating or modifying the charge |
Composite Deed of
Mortgage and Hypothecation For Creation of Further Charge Dated 30.07.2011 |
|
Date of instrument
Creating the charge |
30.07.2011 |
|
Amount secured by
the charge |
Rs. 134.875
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash credit - 13%
p.a. at present Bills discounting
- 13% p.a. at present Letter of credit
- as per banks rules Term loan - 13%
p.a. At present Terms of Repayment Period - Cash credit -
repayable on demand / review within 12 months Bills discounting
- repayable on demand / review within 12 months Letter of credit
- as per LC terms / review within 12
months Term loan: 60
months Margin Margin - Cash credit - 25%
in banks favour Bills discounting
- 25% in banks favour Term loan- 25% in
bank's favour Letter of credit
- 15% in banks favour Extent and Operation of the charge The Charge Shall
Continue to Operate Until the Full Repayment of Loan by the Company Others Facility - Cash credit - Rs.
20.000 millions (existing Rs.10.000 millions + additional Rs.10.000 millions
) Bills discounting
- Rs.30.000 millions ( existing Rs.20.000 millions + additional Rs. 10.000
millions ) Letter of credit
- Rs. 20.000 millions ( existing Rs. 15.000 millions + addtional Rs. 5.000
millions ) Term loan (new) -
Rs. 15.000 millions ( for purchase of machinery and vehicle ) Term loan (new) -
Rs. 5.000 millions ( for construction ) Term loan
(existing) - Rs. 44.875 millions |
|
Short particulars
of the property charged |
Plot no. S-163, Pimapri
Industiral Area, Bhosari, Pune and of composite deed ( owned by the company ) Plot no. S-164,
Pimapri Industiral Area, Bhosari, Pune and composite deed ( owned by the
company ) Land situated
within district satara, sub district wai, village jambhali bearing S.No. 145
hissa no. 1 and of composite deed ( not owned by the company ) Hypothecated
Stock, Book Debts, Plant and Machineries , Material Under LC and Bills Etc
and of Composite Deed ( Owned by the Company ) |
|
Date of latest
modification prior to the present modification |
21.07.2010 |
|
Particulars of
the present modification |
existing charge
of Rs.89.875 millions (includes cash credit Rs. 10.000 millions + bill
discounting Rs. 20.000 millions + letter of credit Rs. 15.000 millions + term
loan Rs. 3.000 millions+ Rs. 30.000 millions + Rs. 10.000 millions + Rs.
1.875 millions) is enhanced by Rs. 45.000 millions (includes cash credit of
Rs. 10.000 millions + bill discounting Rs.10.000 millions + letter of credit
Rs. 5.000 millions + term loan Rs.15.000 millions + Rs.5.000 millions). so
now the total charge is of Rs.134.875 millions |
CONTINGENT LIABILITIES:
An appeal with excise authorities in respect of
the demand raised against the company by the excise authorities amounting to
Rs. 1.162 millions is dismissed against the company. The company has preferred
an appeal with the tribunal authorities. The company has filed an appeal with
Central Excise and Service Tax Appellate Tribunal – West Zonal Tribunal, Mumbai
against appeal order.
FIXED ASSETS
·
Land
·
Building – Factory
·
Building – Office
·
Plant and Machinery
·
Moulds
·
Furniture
·
Typewriter
·
Computer
·
Office Equipment
·
Vehicle
·
Water Tank
·
Chemical Equipment
·
Tools and Equipment
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.54.73 |
|
|
1 |
Rs.88.61 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
29 |
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.