MIRA INFORM REPORT
|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MIRHA EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6071, Nawab Road, Basti Harphool Singh, Sadar Bazar, New Delhi-110006 |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
11.09.1997 |
|
|
|
|
Com. Reg. No.: |
55-089573 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11.850
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63022DL1997PTC089573 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM08606D |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACM8612P |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer, Exporter and Supplier of Fresh Frozen |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 790000 |
|
|
|
|
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 track record. There
appears huge external borrowing recorded by the company which seems to be
increasing over years. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB- (Long term Rating) |
|
Rating Explanation |
The inadequate credit quality. It carry high credit risk. |
|
Date |
March 2012 |
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 : |
6071, |
|
Tel. No.: |
91-11-23524295/ 23524029/ 2367758/ 65185534 / 23674758 |
|
Fax No.: |
91-11-23634938 |
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E-Mail : |
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|
Website : |
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Factory: |
13-36-37, Site-4, Industrial Area, Sahibabad Industrial Area,
Gaziabad-201010, Uttar Pradesh, India |
|
Tel. No.: |
91-11-65785534 |
|
Area : |
Owned |
|
|
|
|
Corporate Office : |
30 Bazar Lane, Bengali Market, Connaught Place, New Delhi 110001, India |
|
Tel. No.: |
91-11-23353271/ 72/ 73 |
|
Fax No.: |
91–11-23353270 |
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E-Mail : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Qaiser Hussain Qureshi |
|
Designation : |
Director |
|
Address : |
6062, Nawab Road, Basti Harphool Singh, Sadar Bazar, Delhi-110006,
India |
|
Date of Birth : |
20.03.1966 |
|
Date of Appointment : |
02.06.2003 |
|
DIN No.: |
00428732 |
|
|
|
|
Name : |
Mr. Shuab Ahmed Qureshi |
|
Designation : |
Director |
|
Address : |
6066, Nawab Road, Basti Harphool Singh, Sadar Bazar, Delhi-110006,
India |
|
Date of Birth : |
10.08.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
11.09.1997 |
|
DIN No.: |
00428845 |
MAJOR SHAREHOLDERS
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shuab Ahmed Qureshi |
|
123490 |
|
Qaiser Hussain |
|
288500 |
|
Zareen Qureshi |
|
62500 |
|
Arshia Shuab Ahmed Qureshi |
|
707010 |
|
Kahkashan Qureshi |
|
3500 |
|
|
|
|
|
Total
|
|
1185000 |
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 : |
Manufacturer, Exporter and Supplier of Fresh Frozen |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Bank
of Baroda, International Business Branch, Parliament Street, New
Delhi-110001, Delhi, India ·
HDFC Bank Limited ·
ICICI Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Duggal Kundra and Associates Chartered Accountants |
|
Address : |
301, |
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Tel. No.: |
91-11-27027974 |
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E-Mail : |
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PAN.: |
AHHPK4426G |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
|
|
|
|
|
|
|
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|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1185000 |
Equity Shares |
Rs.10/- each |
Rs.11.850
Millions |
|
|
|
|
|
|
|
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|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
11.850 |
11.850 |
11.850 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
186.001 |
133.209 |
100.387 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
197.851 |
145.059 |
112.237 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
655.880 |
466.170 |
283.100 |
|
|
2] Unsecured Loans |
41.475 |
34.146 |
11.759 |
|
|
TOTAL BORROWING |
697.355 |
500.316 |
294.859 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
895.206 |
645.375 |
407.096 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
645.372 |
594.167 |
273.275 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.500 |
0.500 |
0.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
492.318
|
251.679 |
116.893
|
|
|
Sundry Debtors |
515.986
|
164.103 |
223.353
|
|
|
Cash & Bank Balances |
88.005
|
104.347 |
45.765
|
|
|
Other Current Assets |
0.000
|
2.191 |
0.000
|
|
|
Loans & Advances |
63.301
|
68.881 |
58.171
|
|
Total
Current Assets |
1159.610
|
591.201 |
444.182 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
757.153
|
459.247 |
294.947 |
|
|
Other Current Liabilities |
112.898
|
58.790 |
0.000 |
|
|
Provisions |
40.225
|
22.456 |
20.265 |
|
Total
Current Liabilities |
910.276
|
540.493 |
315.212 |
|
|
Net Current Assets |
249.334
|
50.708 |
128.970 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
OTHERS |
0.000 |
0.000 |
4.351 |
|
|
|
|
|
|
|
|
TOTAL |
895.206 |
645.375 |
407.096 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
5045.786 |
2285.931 |
1832.762 |
|
|
|
Other Income |
178.525 |
131.514 |
156.762 |
|
|
|
TOTAL (A) |
5224.311 |
2417.445 |
1989.524 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
5084.205 |
2354.321 |
1935.580 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
5084.205 |
2354.321 |
1935.580 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses) |
(Including
Financial Expenses) |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
140.126 |
63.124 |
53.944 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
60.533 |
12.871 |
7.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
79.593 |
50.253 |
46.419 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
26.801 |
17.431 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
52.792 |
32.822 |
46.419 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
133.209 |
100.387 |
53.968 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
186.001 |
133.209 |
100.387 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
4645.506 |
2205.066 |
1776.959 |
|
|
TOTAL EARNINGS |
4645.506 |
6850.572 |
3982.025 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
44.55 |
27.70 |
39.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.01
|
1.36 |
2.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.58
|
2.20 |
2.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.41
|
4.24 |
6.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.35 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.52
|
3.45 |
2.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.09 |
1.41 |
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATION:
The Directors inform you that the company’s achieved total turnover of Rs. 5045.786 Millions as compared to last year’s turnover of Rs. 2285.931 Millions with an overall increase of Rs. 2759.855 Millions. The Company’s other Incomes have also increased from 131.514 Millions to 178.525 Millions. The net profits before depreciation of the company have also increased from Rs. 63.124 Millions to Rs. 140.126 Millions. The reason for increase in sales was due to production at full capacity at its new integrated meat processing plant at Dera Bassi and starting of production at its expansion project from 1st January, 2012. The demand of frozen boneless buffalo meat is also increasing day by day with the opening of new foreign markets. The Directors’ are expecting more business in the current financial year with the approvals of our plant for more countries to import frozen boneless buffalo meat from our plant.
UNSECURED LOAN:
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowing |
|
|
|
Rupee term loans from others |
37.559 |
29.926 |
|
Short Term Borrowing |
|
|
|
Loans repayable on demand from others |
3.235 |
3.100 |
|
Loans and advances from directors |
0.569 |
1.019 |
|
Loans and advances from others |
0.112 |
0.101 |
|
Total |
41.475 |
34.146 |
|
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U63022DL1997PTC089573 |
|
Name of the
company |
MIRHA EXPORTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
6071, Nawab Road, Basti Harphool Singh, Sadar Bazar, New Delhi-110006, India |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of Baroda, International Business Branch, Parliament Street, New Delhi-110001, Delhi, India |
|
Nature of
instrument creating charge |
Composite Hypothecation Agreement dated 09.08.2012 |
|
Date of
instrument Creating the charge |
09.08.2012 |
|
Amount secured by
the charge |
Rs.60.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Upto 90 days - 1.00% over Base Rate p.a. with monthly rests and overdues @ 7.00% over Base Rate p.a. with monthly rests. (Current Base Rate is 10.50% p.a.) Terms of Repayment Payable on demand. Margin 25% Extent and
Operation of the charge 100% Others To secure all amount payable under Adhoc Packing Credit Limit of Rs. 60.000 Millions granted to the Company together with all interests, costs, charges, expenses etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Exclusive Charge on the entire current assets of the Company. First Exclusive Charge on the Fixed Assets (including Land and Building) of the Company. |
FIXED ASSETS:
- Air Curtains / Cooler/Fan/AC
- Barrels
- Building (Dasna)
- Car
- Computer
- Cooling Tower
- Cycle
- Electric Fittings
- Equipments
- Fire Extinguisher
- Furniture and Fixture
- Generator
- Inverter
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 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.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
30 |
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.