MIRA
INFORM REPORT
|
Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEK PERIPHERALS INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
107-108, |
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Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.04.2008 |
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|
|
|
Com. Reg. No.: |
11-181795 |
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Capital
Investment / Paid-up Capital : |
Rs.5.650
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2008PTC181795 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM34224B |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor of Computer Peripherals. |
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|
No. of Employees
: |
25 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 143000 |
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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 to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for business dealing 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 PARTED BY
|
Name : |
Mr. Devendra Kanakmal Vagrecha |
|
Designation : |
Director |
|
Contact No.: |
91-9820688769 |
|
Date : |
15.09.2012 |
LOCATIONS
|
Registered Office : |
107-108, Diamond Plaza, 1st Floor, 391, Dr. Dadasaheb
Bhadkamkar Marg, Mumbai-400004, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9820688769 [Mr. Devendra Kanakmal Vagrecha] |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Branch Office 1 / Shop : |
Shop No. 4, 390 E, Laxmi Building Compound, Opposite Naaz Cinema,
Lamington Road, Grant Road (East), Mumbai-400004, Maharashtra, India |
|
Tel. No.: |
91-22-66344120 / 23855543 / 66368388 / 23883705 / 43336111 (50 lines) |
|
Fax No.: |
91-22-66368388 |
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|
|
|
Branch Office 2 : |
B-41, 1st Floor, Taj-Ishkrupa CHS Limited, Varkat School
Road, Anand Nagar, Thane-401202, Maharashtra, India |
|
Area: |
450 sq. ft. |
|
Location: |
Rented |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Devendra Kanakmal Vagrecha |
|
Designation : |
Director |
|
Address : |
1st Floor, Room 17, 58, Mugbhat X Lane, Mumbai-400004,
Maharashtra, India |
|
Date of Birth/Age : |
23.08.1974 |
|
Date of Appointment : |
01.08.2008 |
|
Din No.: |
02200702 |
|
|
|
|
Name : |
Mr. Sandeep Kevalchand Jain |
|
Designation : |
Director |
|
Address : |
303, |
|
Date of Birth/Age : |
02.10.1971 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
30.04.2008 |
|
Din No.: |
02091465 |
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Voter Id No.: |
MT/05/025/0126589 |
|
|
|
|
Name : |
Ms. Priti Puit Surana |
|
Designation : |
Director |
|
Address : |
Flat No. 1701, 17th Floor, Gundecha Garden, Gas Comp Lane,
Lalbaug, Mumbai-400012, Maharashtra, India |
|
Date of Birth/Age : |
02.011.1975 |
|
Date of Appointment : |
01.08.2008 |
|
Din No.: |
02206501 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sandeep Kevalchand Jain |
|
204000 |
|
Priti Puit Surana |
|
132500 |
|
Kamladevi Jain |
|
53500 |
|
Devendra Kanakmal Vagrecha |
|
35000 |
|
Uplink Vyapaar
Private Limited, India |
|
85000 |
|
Jayshree S. Jain |
|
5500 |
|
Punit K. Surana |
|
16500 |
|
Bhavana Vagrecha |
|
5500 |
|
Devendra Kanakmal Vagrecha HUF |
|
5500 |
|
Kanakmal G. Jain |
|
5500 |
|
Punit K. Surana (HUF) |
|
16500 |
|
|
|
|
|
TOTAL
|
|
565000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
29.20 |
|
Directors
or relatives of directors |
|
70.80 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Computer Peripherals. |
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|
|
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Agencies Held : |
·
Intel HI-K Mother Board and CPU’s ·
King Son ·
Gigabytes ·
Brother Printer |
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Terms : |
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Selling : |
Credit [30 Days] [Depends] |
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Purchasing : |
Credit [30 Days] [Depends] |
GENERAL INFORMATION
|
Suppliers : |
·
Benchmark Computer Solution Private Limited ·
Compuage Infocom Limited ·
Century Enterprises ·
Creative Peripherals and Distributions Private
Limited ·
HCl Infosystem Limited ·
Icon Infotech Private Limited ·
Multi Electronics ·
Neoteric Infomatique Limited ·
Rashi Peripherals Private Limited ·
Real Computer ·
Top Notch Infotronix India Private Limited ·
Transtek Infoways Private Limited |
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Customers : |
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No. of Employees : |
25 [Approximately] |
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Bankers : |
Indian Bank, Vijay Chamber, Tribhuvan Road, Opposite Dreamland Cinema,
Mumbai-400004, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
N.G. Jain and Company Chartered Accountants |
|
Address : |
320, Hammersmith Industrial Premises CHS Limited, Narayan Pathare
Marg, Mahim (West), Mumbai-400016, Maharashtra, India |
|
Pan No.: |
AALPM7276R |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
565000 |
Equity Shares |
Rs. 10/-
each |
Rs.5.650
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 |
5.650 |
5.650 |
4.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
30.164 |
25.457 |
9.285 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
35.814 |
31.107 |
13.285 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.083 |
3.237 |
3.024 |
|
|
2] Unsecured Loans |
28.574 |
6.439 |
16.100 |
|
|
TOTAL BORROWING |
33.657 |
9.676 |
19.124 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
69.471 |
40.783 |
32.409 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.173 |
0.349 |
0.554 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
32.310
|
29.583 |
26.039 |
|
|
Sundry Debtors |
69.771
|
73.958 |
39.914 |
|
|
Cash & Bank Balances |
0.491
|
1.657 |
1.676 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.267
|
2.315 |
3.635 |
|
Total
Current Assets |
106.839
|
107.513 |
71.264 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.014
|
64.895 |
38.668 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
3.637
|
2.310 |
0.883 |
|
Total
Current Liabilities |
38.651
|
67.205 |
39.551 |
|
|
Net Current Assets |
68.188
|
40.308 |
31.713 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.110 |
0.126 |
0.142 |
|
|
|
|
|
|
|
|
TOTAL |
69.471 |
40.783 |
32.409 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
807.834 |
754.874 |
466.654 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
797.539 |
749.794 |
462.685 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
797.539 |
749.794 |
462.685 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.295 |
5.080 |
3.969 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.063 |
2.942 |
1.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.232 |
2.138 |
2.019 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.403 |
0.210 |
0.028 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
6.829 |
1.928 |
1.991 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.122 |
0.605 |
0.707 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
4.707 |
1.323 |
1.284 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.607 |
1.284 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.314 |
2.607 |
1.284 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.33 |
2.34 |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover [Approximately] |
|
|
1000.000 |
Expected Sales (2012-13) : Rs.1250.000 Millions.
The above information has been parted by Mr. Devendra Kanakmal Vagrecha.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.58
|
0.18 |
0.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.32
|
1.79 |
2.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.06 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.02
|
2.47 |
4.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.76
|
1.60 |
1.80 |
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 |
35.014
|
64.895 |
38.668 |
|
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 |
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 three 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 |
Yes |
|
18] |
Major customers |
Yes |
|
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] |
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 |
Yes |
|
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 |
10225460 |
|
Corporate
identity number of the company |
U72900MH2008PTC181795 |
|
Name of the
company |
MEK PERIPHERALS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shop No. 4, 390 E, Laxmi Building Compound, Opposite Naaz Cinema,
Lamington Road, Grant Road (East), Mumbai-400004, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property |
|
Particular of
charge holder |
Indian Bank, Vijay Chamber, Tribhuvan Road, Opposite Dreamland Cinema,
Mumbai-400004, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of Hypothecation
of Movables and Agreement for guarantee dated February 03, 2012. |
|
Date of
instrument Creating the charge |
03.02.2012 |
|
Amount secured by
the charge |
Rs.9.500 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base
Rate10.7%p.a. the effective interest rate is 14.25% p.a. with monthly. rests
payable at monthly intervals which is arrived at on the lines based on RBI
guidelines on BPLR. Terms of
Repayment On Demand Margin 15% against the
securities hypothecated of case of OCC/ Overdraft Account Extent and
Operation of the charge The charge is to
operate as security by way of first exclusive charge, for the due re-payment
of the credit facility of Rs.9.500 Millions together with interest,
additional interest, cost, charges, expenses and all other money payable by
the company to the bank from time to time is terms of sanctions. Others Overdraft
Facility for Rs.9.500 Millions. |
|
Short particulars
of the property charged |
Hypothecation, by
way of first charge of all the companies goods, produce, merchandise stock,
stored or to-stored from time to time in the premises at Shop No. 4, 390-E,
Laxmi Building Compound, Opposite Naaz
Cinema, Lamington Road, Mumbai - 400004. Vehicles existing
and or/ those to be purchases out of bank's finance, Plant and Machinery,
consumer durables, Book debts, receivables And other claim
which may due and owing to the company from time to time. |
|
Date of latest modification
prior to the present modification |
22.12.2010 |
|
Particulars of
the present modification |
The charge is now
modified to increase the credit facilities granted to the Company from
Rs.7.500 Millions to Rs.9.500 Millions to cover an increase in Cash Credit
limit by Rs.2.000 Millions. |
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Furniture
·
Motor Bike
·
Motor Car
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.53.97 |
|
|
1 |
Rs.87.52 |
|
Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
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 |
|
43 |
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.