MIRA INFORM REPORT

 

 

Report Date :

06.02.2013

 

IDENTIFICATION DETAILS

 

Name :

LOCUZ ENTERPRISE SOLUTIONS LIMITED

 

 

Registered Office :

No 4, 6TH Floor Orion Tower Building # 9, Opposite Westin Hotel, Mindspace Cyberbad, Hyderabad – 500081, Andhra Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

19.11.1999

 

 

Com. Reg. No.:

01-032881

 

 

Capital Investment / Paid-up Capital :

Rs. 10.000 Millions

 

 

CIN No.:

[Company Identification No.]

U72200AP1999PLC032881

 

 

IEC No.:

0902011324

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDL00458D

 

 

PAN No.:

[Permanent Account No.]

AAACL6270A

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Providing IT Infrastructure Services.

 

 

No. of Employees :

300 (In Office-120, In Branch-180) (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 766000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed company having a fine track record. Trade relations are decent. Financial position of the company is good. Business is active. Payments are reported as regular and as per commitments.

 

The company can be considered good for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

P V L Prasad

Designation :

Head-Commercial

Contact No.:

91-9849662352

Date :

04.02.2013

 

 

LOCATIONS

 

Registered/ Head Office/ Branch :

No 4, 6TH Floor Orion Tower Building # 9, Opposite Westin Hotel, Mindspace Cyberbad, Hyderabad – 500081, Andhra Pradesh, India

Tel. No.:

91-40-30509001-9005/ 30509187

Mobile No.:

91-9849662352 [P V L Prasad]

Fax No.:

91-40-30509006/ 9007

E-Mail :

prasad.panyam@locuz.com

3iinfcompliance@gmail.com

vwadhi@locuz.com

Website :

www.locuz.com

Location :

Leased

 

 

Regional Office 1/ Branch :

2nd Floor, Alfa Center, No. 20 Venugopal Swamy Layout, Koramangala Inner Ring Road, Bangalore - 560047, Karnataka, India

Tel. No.:

91-80-40506800

Fax No.:

91-80-41314748

 

 

Regional Office 2/ Branch :

C/o 3i Infotech Limited, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India

Tel. No.:

91-22-39814592

 

 

Branch Office :

Ø       Located at:

 

Ø       Onyx 11th Floor, North Main Road, Next to Westin Hotel, Koregaon Park, Pune - 411001, Maharashtra, India

            Tel No.: 91-20-67261200

            Fax No.: 91-20-67261201

 

Ø       4TH Floor, Tower 5, International Infotech Park, Vashi, Navi Mumbai – 400703, Maharashtra, India

 

Ø       No. 8, Lalitha Nagar, 2nd Street, Santhome, Chennai – 600004, Tamilnadu, India

 

Ø       Safexpress Private Limited, N.H. No. 17, Perxett, Guirim, Goa, India

 

Ø       B-38/579, 1st Floor, Gali No. 2, Ganesh Nagar – II, Shakapur, New Delhi – 110092, India

 

Ø       1, North Bridge Road, # 19-04/05, High Street Centre, Singapore - 179094
Tel No.: 65-63373472/ 73

            Fax No.: 65-63382844

 

Ø       Prince Info City II, No: 283/4, Rajiv Gandhi Salai (OMR), Kandanchavadi, Chennai – 600096, Tamilnadu, India

Tel No.:91-44-30653502

 

 

DIRECTORS

 

Name :

Mr. Vijay Kumar Wadhi

Designation :

Managing Director

Address :

No.107, Manasarover Villa Greens Gandipet, Hyderabad – 500075, Andhra Pradesh, India

Date of Birth/Age :

14.11.1960

Qualification :

MBA

Date of Appointment :

19.11.1999

DIN No.:

00087657

 

 

Name :

Mr. Uttam Kumar Majumdar

Designation :

Whole Time Director

Address :

1-7-200/1, Kamala Nagar Ecil, Hyderabad – 500001, Andhra Pradesh, India.

Date of Birth/Age :

09.09.1973

Qualification :

B. Tech

Date of Appointment :

01.04.2011

DIN No.:

00087668

 

 

Name :

Mr. Shivanand Rama Shettigar

Designation :

Director

Address :

14, Balambika CHS, Chedda Nagar, Chembur, Mumbai - 400089, Maharashtra, India

Date of Birth/Age :

13.03.1965

Date of Appointment :

02.06.2008

DIN No.:

00209835

 

 

Name :

Mr. Gaurav Agrawal

Designation :

Director

Address :

501-A, Akruti Nova, N.S. Phadke Marg, Saiwadi, Andheri (East), Mumbai - 400069, Maharashtra, India

Date of Appointment :

17.05.2012

DIN No.:

00821505

 

 

Name :

Mr. Kota Venkata Durganadh

Designation :

Whole Time Director

Address :

F33, 6-3-630-12 and 3, Symphony Dwellings, Hyderabad – 500004, Andhra Pradesh, India

Date of Birth/Age :

28.09.1973

Qualification :

B. Tech, MBA

Date of Appointment :

05.12.2005

DIN No.:

01325018

 

 

Name :

Mr. Charanjit Surinder Attra

Designation :

Director

Address :

Flat No. A-1101, 11th Floor, Akruti Nova, Saiwadi, Telligalli, Andheri (East), Mumbai - 400069, Maharashtra, India

Date of Appointment :

10.09.2012

DIN No.:

05323757

 

 

Name :

Mr. Ashish Kakkar Ravi

Designation :

Director

Address :

402, B-Wing, Tina Bliss, Ghatia Village Road, Chembur, Mumbai – 400071, Maharashtra, India

Date of Appointment :

10.09.2012

DIN No.:

06370551

 

 

KEY EXECUTIVES

 

Name :

P V L Prasad

Designation :

Head-Commercial

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2012

 

Names of Shareholders

 

 

No. of Shares

3i Infotech Limited, India

 

740000

Uttam Kumar Majumdar

 

96230

Vijay Kumar Wadhi

 

92663

Durganadh Venkata Kota

 

18200

Poonam Wadhi

 

16442

Other Shareholders

 

36465

TOTAL

 

1000000

 

 

BUSINESS DETAILS

 

Line of Business :

Providing IT Infrastructure Services.

 

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

No. of Employees :

300 (In Office-120, In Branch-180) (Approximately)

 

 

Bankers :

IDBI Bank Limited, Nariman Point Branch, Mumbai, Maharashtra, India

 

 

Facilities :

CC-Rs. 70.000/ BG-Rs.140.000/ LC-Rs. 80.000 (IDBI Bank Limited)

 

Secured Loans

31.12.2012

(9 Months)

31.03.2012

 

(Rs. In Millions)

Working Capital loans

83.423

68.685

Total

83.423

68.685

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

R B Kabra  And Company

Chartered Accountant

Address :

4-1-917 Parsi Lane, Abids, Hyderabad, Andhra Pradesh, India

Tel. No.:

91-04-24753843

E-Mail :

kishorekabra@yahoo.com

Income-tax PAN of auditor or auditor's firm :

AAEFR3093C

 

 

Parent Company :

3i-Infotech Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.12.2012

 

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

 

 

 

 

1000000

Equity Shares

Rs. 10/- each

Rs. 10.000 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2012

(9 Months)

31.03.2012

31.03.2011

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

10.000

10.000

10.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

181.609

145.204

95.355

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

191.609

155.204

105.355

LOAN FUNDS

 

 

 

1] Secured Loans

83.423

68.685

52.486

2] Unsecured Loans

11.692

9.938

2.121

TOTAL BORROWING

95.115

78.623

54.607

DEFERRED TAX LIABILITIES

14.384

10.672

3.455

 

 

 

 

TOTAL

301.108

244.499

163.417

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

65.197

71.726

30.398

Capital work-in-progress

0.000

0.000

50.297

 

 

 

 

INVESTMENT

0.000

0.000

0.021

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
11.843

16.033
11.522

 

Sundry Debtors
659.653

311.078
482.782

 

Cash & Bank Balances
25.903

31.208
22.041

 

Other Current Assets
9.526

8.840
0.000

 

Loans & Advances
31.344

41.795
58.226

Total Current Assets
738.269

408.954
574.571

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
380.539

177.101
322.991

 

Other Current Liabilities
108.497

40.505
148.104

 

Provisions
13.322

18.575
20.775

Total Current Liabilities
502.358

236.181
491.870

Net Current Assets
235.911

172.773
82.701

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

301.108

244.499

163.417

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.12.2012

(9 Months)

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from Operations

1278.104

1394.141

1294.169

 

 

Other Income

46.232

46.489

27.166

 

 

TOTAL                                     (A)

1324.336

1440.630

1321.335

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of material sold

1134.941

1170.673

 

 

 

Changes in inventories of finished goods, work in progress and stock in trade

4.190

(4.511)

 

 

 

Employee Benefit Expenses

63.770

108.389

 

 

 

Other Expenses

37.665

48.416

 

 

 

Exceptional Item 

0.000

14.573

 

 

 

TOTAL                                     (B)

1240.566

1337.540

1225.920

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

83.770

103.090

95.415

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

9.601

15.294

18.250

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

74.169

87.796

77.165

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

11.173

11.816

5.877

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

62.996

75.980

71.288

 

 

 

 

 

Less

TAX                                                                  (H)

26.591

26.130

19.970

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

36.405

49.850

51.318

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

145.205

95.355

44.037

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

181.610

145.205

95.355

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

2.140

9.904

22.010

 

 

 

 

 

 

CIF VALUE OF IMPORT

128.179

555.210

N.A.

 

 

 

 

 

 

Earnings Per Share (Rs.)

36.40

49.85

51.32

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2012

(9 Months)

31.03.2012

31.03.2011

PAT / Total Income

(%)
2.75

3.46
3.88

 

 
 

 
 

Net Profit Margin

(PBT/Sales)

(%)
4.93

5.45
5.51

 

 
 

 
 

Return on Total Assets

(PBT/Total Assets}

(%)
7.84

15.81
11.78

 

 
 

 
 

Return on Investment (ROI)

(PBT/Networth)

 
0.33

0.49
0.68

 

 
 

 
 

Debt Equity Ratio

(Total Debt/Networth)

 
0.50

0.51
0.52

 

 
 

 
 

Current Ratio

(Current Asset/Current Liability)

 
1.47

1.73
1.17

 

 

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

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

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

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

No

 

 

UNSECURED LOANS

 

Unsecured Loans

31.12.2012

(9 Months)

31.03.2012

 

(Rs. In Millions)

Acceptance from CISCO 

9.931

8.000

Working Capital loan

1.761

1.938

Total

11.692

9.938

 

 

HISTORY:

 

Subject was incorporated in the year 1999 and has over the last 13 years provided focused IT Infrastructure Services across the geography of India, with its Head Quarters at Hyderabad and having branches at Bangalore, Pune, Delhi, Chennai and Singapore. Addressing the various IT lnfrastructure needs in verticals like Education and Research, Defence, IT I ITES, Corporates in India, Locuz has emerged as a successful and profitable business operation owing to their niche specialization in certain areas of operation. What differentiates Locuz in the industry is its sole focus on Technology lnfrastructure applied to select client industries where it provides end-to-end services capability (Plan, Acquire, Deploy, Maintain and Retire).

 

 

TRADE REFERENCES:

 

Ø       Redington India Limited

7th Floor, Surya Towers, S.P. Road, Hyderabad – 500003, Andhra Pradesh, India

Mobile No.: 91-9392487779 (Mr. Sudesh, Branch Manager)

 

Ø       Ingram Micro India Limited

Plot No. 56-59, 3rd Floor, Malani Co-operative Housing Limited, Tarbund, Secunderabad – 500011, Andhra Pradesh, India

Mobile No.: 91-9391062815 (Mr. Sanjay Sarma, Branch Manager)

 

Ø       Westcon India (Private) Limited (Constor Group)

# 204, My Home Laxmi Nivas, Greenlands, Ameerpet, Hyderabad – 500016, Andhra Pradesh, India

Mobile No.: 91-9347734037 (Mr. Anil, Regional Manager)

 

Ø       Avnet Technology Solutions India Private Limited

302, 3rd Floor, Olbee Centre, 6-3-1090/A/24, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India

Mobile No.: 91-9885190261 (Mr. Anil, Branch Manager)

 

 

CONTINGENT LIABILITIES:

 

Contingent liabilities not provided for in respect of

31.12.2012

31.03.2012

Outstanding guarantees given by banks

188.380

131.547

Estimated amount of claims against the company not acknowledged as debts in respect of :

 

 

-Disputed Income tax matters

2.368

2.368

-Disputed Sales tax matters

7.546

7.546

-Customer Claims

0.000

0.000


FIXED ASSETS:

 

Ø       Furniture and Fixture

Ø       Office Equipment

Ø       Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 53.29

UK Pound

1

Rs. 83.97

Euro

1

Rs. 71.88

 

 

INFORMATION DETAILS

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

49

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.