MIRA
INFORM REPORT
|
Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
QUALITY POWER ELECTRICAL EQUIPMENTS PRIVATE LIMITED |
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|
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|
Registered
Office : |
Plot No. L-61, MIDC, Kupwad Block, Sangli-416436, Maharashtra |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
20.09.2001 |
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Com. Reg. No.: |
016455 |
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|
Capital Investment
/ Paid-up Capital : |
Rs.0.820
Million |
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|
CIN No.: [Company Identification
No.] |
U31102PN2001PTC016455 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Transformers and Reactors. |
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|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having a moderate track record. The management of
the company has failed to file its financials with the government department
since 2010. Ms. Sarika Jadhav, from the Finance Department has denied to disclose
any detail of the subject to us. As per old [2010], it was considered normal for business dealings.
However, business is active. Payment terms are unknown. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Ms. Sarika Jadhav |
|
Designation : |
Finance Department |
|
Contact No.: |
91-233-2645435 |
|
Date : |
10.04.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. L-61, MIDC, Kupwad Block, Sangli-416436, Maharashtra,
India |
|
Tel. No.: |
91-233-2645432/2645435 |
|
Fax No.: |
91-233-2645433 |
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E-Mail : |
DIRECTORS
AS ON 28.09.2010
|
Name : |
Perumal Thalavaidurai Pandyan |
|
Designation : |
Director |
|
Address : |
Bharani Balaji Nagar, 153, Kupwad Road, Sangli-416416, Maharashtra,
India |
|
Date of Birth/Age : |
20.04.1955 |
|
Date of Appointment : |
20.09.2001 |
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Din No.: |
00439782 |
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|
|
|
Name : |
Mrs. Chitra Pandyan |
|
Designation : |
Director |
|
Address : |
L-61, MIDC Kupwad, Sangli-416406, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1960 |
|
Date of Appointment : |
20.09.2001 |
|
Din No.: |
02602659 |
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|
|
|
Name : |
Mr. Bharanidharan Pandyan |
|
Designation : |
Director |
|
Address : |
Bharani Balaji Nagar, 153, Kupwad Road, Sangli-416416, Maharashtra,
India |
|
Date of Birth/Age : |
29.05.1984 |
|
Date of Appointment : |
25.07.2002 |
|
Din No.: |
01298247 |
KEY EXECUTIVES
|
Name : |
Ms. Sarika Jadhav |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Perumal Thalavaidurai Pandyan |
|
140 |
|
Chitra Pandyan |
|
310 |
|
Bharanidharan Pandyan |
|
370 |
|
|
|
|
|
TOTAL
|
|
820 |
AS ON 31.03.2012
|
Names of Shareholders |
|
No. of Shares |
|
Perumal Thalavaidurai Pandyan |
|
455 |
|
Bharanidharan Pandyan |
|
225 |
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|
|
|
|
TOTAL
|
|
680 |
AS ON 28.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Transformers and Reactors. |
PRODUCTION STATUS [AS ON 31.03.2010]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Reactors |
Nos. |
6500 |
5994 |
|
Transformers |
Nos. |
150 |
30 |
NOTES:
1. Licensed capacity not applicable.
2. Installed capacities shown are as certified by the management; installed
capacity of the company is increased, as additional machinery and equipments
have been acquired.
3. Figures of actual production are for full year.
4. The quantity is both reactor and transformers is not a correct indication
of turnover, as the selling prices of one unit differs to that of other, under
same category, because of size, rating etc.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
Indian Bank, Sangli Branch, 43/4, Vakhar Bhag, High School Road,
Sangli-416416, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Khire Khandekar and Kirloskar Chartered Accountants |
|
Address : |
Branch 1, 157, Raghukul, South Shivani Nagar, Panchmukhi Maruti Road,
Sangli-416416, Maharashtra, India |
|
Tel No.: |
91-233-2376096 |
|
Fax No.: |
91-233-2377315 |
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Email: |
|
|
PAN No: |
AABFK5801E |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500 |
Equity Shares |
Rs.1000/- each |
Rs.1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500 |
Equity Shares |
Rs.1000/- each |
Rs.1.500 Millions |
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.1000/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
820 |
Equity Shares |
Rs.1000/- each |
Rs.0.820
Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.820 |
0.820 |
0.820 |
|
|
2] Share Application Money |
0.545 |
0.545 |
0.545 |
|
|
3] Reserves & Surplus |
78.755 |
58.333 |
37.426 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.120 |
59.698 |
38.791 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.629 |
15.635 |
6.100 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.546 |
|
|
TOTAL BORROWING |
19.629 |
15.635 |
6.646 |
|
|
DEFERRED TAX LIABILITIES |
0.042 |
0.091 |
0.135 |
|
|
|
|
|
|
|
|
TOTAL |
99.791 |
75.424 |
45.572 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
18.088 |
15.957 |
14.841 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.275 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.919
|
13.643 |
24.438 |
|
|
Sundry Debtors |
32.021
|
16.399 |
22.973 |
|
|
Cash & Bank Balances |
0.192
|
0.474 |
5.849 |
|
|
Other Current Assets |
69.460
|
49.742 |
25.355 |
|
|
Loans & Advances |
2.632
|
1.046 |
0.457 |
|
Total
Current Assets |
120.224
|
81.304 |
79.072 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.045
|
7.173 |
11.445 |
|
|
Other Current Liabilities |
11.256
|
2.884 |
28.580 |
|
|
Provisions |
10.499
|
11.788 |
8.327 |
|
Total
Current Liabilities |
39.800
|
21.845 |
48.352 |
|
|
Net Current Assets |
80.424
|
59.459 |
30.720 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.004 |
0.008 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
99.791 |
75.424 |
45.572 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
170.302 |
167.833 |
111.822 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
136.818 |
133.538 |
87.387 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.484 |
34.295 |
24.435 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.695 |
2.390 |
2.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
30.789 |
31.905 |
22.360 |
|
|
|
|
|
|
|
|
|
Add |
DEFERRED TAX
LIABILITY OF LAST YEAR REVERSED |
0.091 |
0.135 |
0.126 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.460 |
11.132 |
7.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
20.420 |
20.908 |
14.494 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
45.834 |
30.426 |
19.432 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
5.500 |
3.500 |
|
|
BALANCE CARRIED
TO THE B/S |
66.254 |
45.834 |
30.426 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
17.216 |
28.463 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.985 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
24902.44 |
25497.56 |
17675.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.85
|
12.45 |
12.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.26
|
32.80 |
23.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.53 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.24
|
0.26 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.02
|
3.72 |
1.64 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors
[For Goods and Exports] |
18.045 |
7.173 |
11.445 |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS:
During the year the company did not commence
its business operations.
FUTURE PROSPECTS:
The management of
the company is planning to explore new avenues in the business of Project Work
including consultancy, planning, erection and execution of power projects. The
management is also trying to explore international markets for the products of
the company. In this regard the company has participated in some international
exhibitions. Efforts on this count have begun to yield fruits and the company
has bagged many export orders during the year. The management is optimistic
about receiving much more export orders in the short to medium term.
CONTINGENT LIABILITIES NO PROVIDED FOR IN RESPECT OF:
Rs.
in Millions
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Letter of credit (L/Cs)
and bank guarantee issued by bank [counter-guarantee by company] of which
2.748 millions BG against security of 100% deposit and balance BG and LC
against security of 10% deposit. |
LC: 5.867 BG: 20.249 Foreign BG 9606$ Inr. 0.447 |
9.442 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U31102PN2001PTC016455 |
|
Name of the
company |
QUALITY POWER
ELECTRICAL EQUIPMENTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No. L-61, MIDC, Kupwad Block, Sangli-416436, Maharashtra,
India |
|
Type of charge |
Movable Property
[not being pledge] |
|
Particular of
charge holder |
Indian Bank, Sangli Branch, 43/4, Vakhar Bhag, High School Road,
Sangli-416416, Maharashtra, India Email: sangli@indianbank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
open cash credit (stocks / book debts) |
|
Date of
instrument Creating the charge |
16.06.2012 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @ 4.25% p.a. over
bank's base rate plus TENUR premium of Rs. 0.50% p.a. subject to a minimum of
15% per annum with monthly rests. Terms of Repayment Period of Loan -
12 Months Margin 25% Extent and Operation of the charge The charge shall
remain in operation till the satisfaction of principle, interest, charges and
other costs accrued thereon. |
|
Short particulars
of the property charged |
Goods, produce, merchandise,
stock stored or to be stored from time to time at Plot No. N-17/5 and Plot No. L-61 in Kupwad MIDC,
Sangli. |
FIXED ASSETS:
·
Land and Building Block
·
Plant and Machinery Block
·
Vehicles Block
·
Computer and Software
·
Office Equipments
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.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
14 |
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.