MIRA
INFORM REPORT
|
Report Date : |
12.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORCHARD BRANDS PRIVATE LIMITED |
|
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Registered
Office : |
67, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai-400063,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.01.2009 |
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Com. Reg. No.: |
11-189430 |
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Capital
Investment / Paid-up Capital : |
Rs.0.750
Million |
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|
CIN No.: [Company Identification
No.] |
U15400MH2009PTC189430 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in business of food catering and restaurants,
banquets and chain restaurants. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4400 |
|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate. Reserves of the
company seems to be insufficient. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. 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.
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 : |
Mr. Rajinder Prasad Munshi Bhagat |
|
Designation : |
Director |
|
Contact No.: |
91-22-26850070 |
|
Date : |
06.02.2013 |
LOCATIONS
|
Registered Office : |
67, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai-400063,
Maharashtra, India |
|
Tel. No.: |
91-22-26850070 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Ashok Shridhar Prabhu |
|
Designation : |
Director |
|
Address : |
Dreams, 3D, 1105, Off LBS Marg, Bhandup (West), Mumbai-400078,
Maharashtra, India |
|
Date of Birth/Age : |
05.10.1977 |
|
Date of Appointment : |
07.01.2009 |
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Din No.: |
02430601 |
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|
|
|
Name : |
Mr. Rajinder Prasad Munshi Bhagat |
|
Designation : |
Director |
|
Address : |
E-501, Angan, Thakur Village, Kandivali (East), Mumbai-400101,
Maharashtra, India |
|
Date of Birth/Age : |
17.06.1974 |
|
Date of Appointment : |
07.01.2009 |
|
Din No.: |
02430053 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sushma Tiwari |
|
11250 |
|
Ashok Shridhar Prabhu |
|
31875 |
|
Rajinder Prasad Munshi Bhagat |
|
31875 |
|
|
|
|
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TOTAL
|
|
75000 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
85.00 |
|
Other
|
|
15.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of food catering and restaurants,
banquets and chain restaurants. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
The Shamrao Vithal Co-operative Bank Limited, Shivai Sankul,
Vidyabhushan Shikshan Sanstha, Shiv Vallabh Cross Road, Ashok Van, Dahisar
(East), Mumbai-400068, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Pritesh Mehta and Company Chartered Accountants |
|
Address : |
511, Sai Chambers, Near Railway Station, Santacruz (East),
Mumbai-400055, Maharashtra, India |
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Tel No.: |
91-22-26175159 |
|
PAN No: |
AAEPM8688E |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000 |
Equity Shares |
Rs.10/- each
|
Rs.0.750
Million |
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 |
0.750 |
0.750 |
0.750 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.363 |
0.227 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.018) |
|
|
NETWORTH |
1.113 |
0.977 |
0.732 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.725 |
3.893 |
0.000 |
|
|
2] Unsecured Loans |
0.843 |
0.309 |
0.644 |
|
|
TOTAL BORROWING |
5.568 |
4.202 |
0.644 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.003 |
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|
|
|
|
|
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TOTAL |
6.681 |
5.179 |
1.379 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.042 |
1.180 |
0.099 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.033 |
0.002 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.699
|
2.570 |
2.917 |
|
|
Sundry Debtors |
7.394
|
6.585 |
1.108 |
|
|
Cash & Bank Balances |
0.090
|
0.313 |
0.016 |
|
|
Other Current Assets |
0.255
|
0.314 |
0.578 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
12.438
|
9.782 |
4.619 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.404
|
5.335 |
3.134 |
|
|
Other Current Liabilities |
0.428
|
0.450 |
0.144 |
|
|
Provisions |
|
|
0.061 |
|
Total
Current Liabilities |
6.832
|
5.785 |
3.339 |
|
|
Net Current Assets |
5.606
|
3.997 |
1.280 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.681 |
5.179 |
1.379 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
29.768 |
28.270 |
13.756 |
|
|
|
Other Income |
0.061 |
0.179 |
0.157 |
|
|
|
Forex Fluctuation |
0.044 |
0.000 |
0.000 |
|
|
|
TOTAL |
29.873 |
28.449 |
13.913 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
19.479 |
19.169 |
9.945 |
|
|
|
Salary and Wages |
2.812 |
3.059 |
1.027 |
|
|
|
Cleaning and Forwarding Charges |
0.827 |
0.506 |
0.048 |
|
|
|
Packing Expenses |
0.022 |
0.032 |
0.006 |
|
|
|
Testing Charges |
0.000 |
0.000 |
0.006 |
|
|
|
Transport Expenses |
0.574 |
0.319 |
0.251 |
|
|
|
Conversion Cost |
0.933 |
1.247 |
0.566 |
|
|
|
Repair and Maintenance |
0.010 |
0.010 |
0.019 |
|
|
|
Legal and Professional Fees |
0.148 |
0.184 |
0.143 |
|
|
|
Traveling Expenses |
0.687 |
0.468 |
0.214 |
|
|
|
Conveyance |
0.020 |
0.020 |
0.037 |
|
|
|
Telephone and Internet Expenses |
0.126 |
0.162 |
0.081 |
|
|
|
Rent, Rates and Taxes |
1.246 |
0.961 |
0.281 |
|
|
|
Office Stationery |
0.100 |
0.038 |
0.029 |
|
|
|
Office Expenses |
0.123 |
0.074 |
0.345 |
|
|
|
Staff Welfare |
0.122 |
0.165 |
0.027 |
|
|
|
R and D Expenses |
0.135 |
0.138 |
0.119 |
|
|
|
Bank Charges |
0.047 |
0.099 |
0.008 |
|
|
|
Courier Expenses |
0.063 |
0.166 |
0.074 |
|
|
|
Discount |
0.157 |
0.018 |
0.005 |
|
|
|
Loss of Goods in Transits |
0.000 |
0.072 |
0.000 |
|
|
|
Insurance |
0.031 |
0.123 |
0.011 |
|
|
|
Electricity Expenses |
0.127 |
0.000 |
0.000 |
|
|
|
Interest on Loan |
0.738 |
0.352 |
0.000 |
|
|
|
Interest of TDS |
0.011 |
0.000 |
0.000 |
|
|
|
Vat Expenses |
0.690 |
0.588 |
0.304 |
|
|
|
Commission Paid |
0.185 |
0.000 |
0.000 |
|
|
|
TOTAL |
29.413 |
27.970 |
13.546 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.460 |
0.479 |
0.367 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.251 |
0.179 |
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.209 |
0.300 |
0.353 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.074 |
0.055 |
0.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.135 |
0.245 |
0.288 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.227 |
(0.018) |
(0.306) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.362 |
0.227 |
(0.018) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.090 |
1.009 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
0.874 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.48 |
0.21 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.45
|
0.86 |
2.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.70
|
1.06 |
2.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.55
|
2.74 |
7.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.31 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.00
|
4.30 |
5.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82
|
1.69 |
1.38 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
6.404
|
5.335 |
3.134 |
|
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 |
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 |
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 |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from 505/A, Hyde Park, Opposite Ansa Industrial Estate, Saki Vihar Road, Andheri (East), Mumbai-400072, Maharashtra, India to the present address w.e.f. 10.10.2012.
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Samit Satish Mehta |
0.000 |
0.250 |
|
Thomas Verghese |
0.000 |
0.059 |
|
Ashok Prabhu |
0.011 |
0.000 |
|
Rajinder Bhagat |
0.832 |
0.000 |
|
TOTAL
|
0.843 |
0.309 |
FIXED ASSETS:
·
Computer
·
Furniture and Fixtures
·
Blackberry Mobile
·
Fridge
·
Meat Mixer
·
T.V.
·
Trolly
WEBSITE DETAILS:
NEWS AND EVENTS:
BAKERY INNOVATION
WITH CITRI FI
We recently hosted our 1-day workshop on 16th March 2011 at our Research and Development station, Mumbai, India. The purpose of the event was to share the most innovative and successful uses of CITRI FI in a wide variety of food applications.
Mr. Rajinder Bhagat, Director of Subject, opened the workshop with the “State of the Company” presentation and introduced Fiber Star and its product- CITRI FI.
Mr. Dale Lindquist, President of Fiber Star, presented “Fiber Star’s State of the Company” presentation. He discussed recent accomplishments of Fiber Star and Subject. After this, Mr. Lindquist switched his focus to the driving global forces that will impact Fiber star, its distributors and Citri Fi sales during next few years. These market forces includes: rising global food prices, the global obesity crisis and the demand for the convenience foods by the growing newly rich middle class of the world’s emerging economies. Amazingly, Citri Fi relates well to each of these three global market demands.
Mr. Nick Kovalenko, Global market head demonstrated Citri Fi‘s outstanding functional benefits. Citri Fi also helps reduce both the cost and the caloric content of foods while maintaining or improving the organoleptic qualities of the original. It does this by binding and holding large amounts of water through cooking, baking and freezing processes. It is used to reduce costs through the partial replacement of a portion of higher priced ingredients such as oil and eggs. It is also used to strengthen fragile food items and to replace synthetic emulsifiers and thickeners. He also demonstrated how Citri Fi should be incorporated into their product from a trial conducted by OBPL Kitchen. Demonstration included making of Muffins with 30 % less fat. A product sample with Citri Fi and a control sample without Citri Fi were prepared for the demonstration. Guests were able to sample the Muffins and evaluate Citri Fi’s effect on product quality for themselves.
With the main goals of educating and sharing information from around the globe, the workshop was a great success.
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.53.67 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.