MIRA
INFORM REPORT
|
Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAYBEE INDUSTRIAL ALLOY (PRIVATE) LIMITED |
|
|
|
|
Registered
Office : |
8, Bentinck Street, Mezzanine
Floor, Kolkata – 700001, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
03.02.1988 |
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|
|
|
Com. Reg. No.: |
21-044318 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 13.815 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1988PTC044318 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK01256D |
|
|
|
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PAN No.: [Permanent Account No.] |
AABCK1884A |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer, Dealer and Stockiest of all type of Ferro Alloys,
Minerals, Metals, Graphite Electrodes, Basic Refractories, Spong Iron Etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
The latest financial are not made available with the government department. As per previous year’s record, the company performance seems to be
good. Financially appears to be strong. Trade relations are reported to be
fair. Business is active. Payments are reported to be usually correct and as
per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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.
LOCATIONS
|
Registered Office : |
8, Bentinck Street, Mezzanine
Floor, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22103032 91-2210-3032/5740/ 22427271/7275 |
|
Fax No.: |
91-33-22430908 |
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E-Mail : |
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Website: |
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Corporate Office : |
33, C.R. Avenue, 5th Floor, Kolkata - 700012, West Bengal,
India |
|
Tel. No.: |
91-33-40009400/ 418 |
|
Fax No.: |
91-33-40009419 |
|
E-Mail : |
vinodsmahipal@kaybeealloys.com
vijay.mahipal@kaybee-group.co.in
manoj.mahipal@kaybeealloys.com
|
|
|
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Bangalore Office : |
KMT -2, 19th K M Tumkur Road, Madanayakanahalli, Opposite
Swami Petrol Pump, Bangalore – 562123, India. |
|
Tel. No.: |
91-80-23715579 |
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Fax No.: |
91-80-23715579 |
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Ahmedabad Office : |
Raghuvir Estate -2, Godown No. 16, Near Tirupati Estate, Aslali, N H
:8, Ahmedabad – 382427, Gujarat, India |
|
Tel. No.: |
91-79-64199529 |
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Fax No.: |
91-79-64199529 |
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E-Mail : |
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Mumbai Office: |
314, Ashirwad, Ahmedabad Street, Mumbai – 400009, Maharashtra, India. |
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Tel. No.: |
91-22-56370484 / 23729499 |
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Fax No.: |
91-22-23751733 |
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E-Mail : |
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Prakash Complex, Godown No. 8, Near Vyas Talab, Bhanpuri, Birgaon
Raipur, Chattisgarh – 493221, India. |
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Tel. No.: |
91-771-4091697 / 4091656 |
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Fax No.: |
91-771-4091656 |
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E-Mail : |
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KMT -2, 19th K M Tumkur Road, Madanayakanahalli, Opposite
Swami Petrol Pump, Bangalore – 562123, India. |
|
Tel. No.: |
91-80-23715579 |
|
Fax No.: |
91-80-23715579 |
DIRECTORS
As on: 21.09.2012
|
Name : |
Mr. Vinod Mahipal |
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Designation : |
Managing Director |
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|
Address : |
P 198, Block A, Lake Town, Kolkata - 700089, West Bengal, India |
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Date of Birth/Age : |
26.02.1967 |
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Date of Appointment : |
03.05.1988 |
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DIN No.: |
00840580 |
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Other Directorship :
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|
Name : |
Mr. Manoj Mahipal |
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|
Designation : |
Director |
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|
Address : |
P 198, Block A, Lake Town, Kolkata - 00089, West Bengal, India |
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Date of Birth/Age : |
17.09.1972 |
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Date of Appointment : |
01.08.1997 |
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DIN No.: |
00840608 |
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Other Directorship :
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Name : |
Mr. Pawan Mahipal |
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Designation : |
Director |
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|
Address : |
P 198, Block A, Lake Town, Kolkata - 700089, West Bengal, India |
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Date of Birth/Age : |
01.07.1975 |
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Date of Appointment : |
01.04.2002 |
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DIN No.: |
01291810 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.09.2012
|
Kishan Lal Mahipal |
43200 |
|
Vinod Mahipal |
153100 |
|
Harish Agarwal |
23000 |
|
Rajendra Kumar Agarwal |
40500 |
|
Indramani Devi Agarwal (As Partner of Indsutrial Alloys) |
10000 |
|
Indramani Devi Mahipal |
10000 |
|
Vijay Mahipal |
48650 |
|
Rita Mahipal |
57500 |
|
Manoj Mahipal |
38000 |
|
Pawan Mahipal |
53000 |
|
K. L. Mahipal and Sons(HUF) |
6000 |
|
Hari Om Goel |
11500 |
|
Jay Resources Private Limited |
25000 |
|
Ajay Kumar Agarwal |
10000 |
|
Kazi Aniauz Zaman |
54000 |
|
P. T. Investment Private Limited, India |
8000 |
|
I B M Infrastructure Private Limited |
51945 |
|
Kay Bee Alloys Private Limited, India |
199000 |
|
Industrial Alloys (India) Private Limited |
203900 |
|
V P M Infocom Private Limited |
46800 |
|
Kay Bee Ferro Alloys Private Limited |
204400 |
|
Sweta Holdings Private Limited, India |
34000 |
|
Rajmahidir Estate Private Limited, India |
10000 |
|
Jugantar Mercantiles Private Limited, India |
10000 |
|
Vanraj Merchants Private Limited, India |
10000 |
|
Maple Merchantile Private Limited, India |
10000 |
|
Dhanvanti Commodities Private Limited, India |
10000 |
|
Total |
1381495 |
Equity Share Break up (Percentage of Total Equity)
As on: 21.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
61.75 |
|
Directors or relatives of directors |
|
38.25 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Dealer and Stockiest of all type of Ferro Alloys,
Minerals, Metals, Graphite Electrodes, Basic Refractories, Spong Iron Etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Corporation Bank, Dharmatalla Branch, 8, Lenin Sarani, Kolkata – 700 013,West Bengal, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Keshri and Associates Chartered Accountant |
|
Address : |
50, Weston street, Kolkata-700012, West Bengal, India |
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PAN No.: |
AETPK7715F |
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|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
·
Sunrise Steels and Alloys Limited, India CIN: U27109WB1995PLC074000 ·
Industrial Alloys (India) Private Limited, India CIN: U27106WB1988PTC045060 ·
Kay Bee Ferro Alloys (Private) Limited, India CIN: U27100WB2008PTC129320 ·
Kay Bee Alloys (Private) Limited, India CIN: U27100WB2007PTC115096 ·
VPM Inficom (Private) Limited, India CIN: U72200WB2010PTC143527 · IBM Infrastructure (Private) Limited, India CIN: U45400WB2010PTC145135 |
CAPITAL STRUCTURE
As on: 21.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1332845 |
Equity Shares |
Rs.10/- each |
Rs. 13.328
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1381495 |
Equity Shares |
Rs.10/- each |
Rs.13.815
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
13.815 |
13.815 |
12.895 |
|
|
2] Share Application Money |
0.000 |
0.000 |
4.790 |
|
|
3] Reserves and Surplus |
404.590 |
317.528 |
234.404 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
418.405 |
331.343 |
252.089 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.824 |
84.193 |
3.112 |
|
|
2] Unsecured Loans |
61.398 |
52.481 |
49.169 |
|
|
TOTAL BORROWING |
122.222 |
136.674 |
52.281 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
540.627 |
468.017 |
304.370 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.678 |
6.398 |
5.017 |
|
|
Capital work-in-progress |
0.069 |
0.069 |
0.069 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.820 |
7.253 |
8.554 |
|
|
DEFERREX TAX ASSETS |
0.239 |
0.135 |
0.091 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS and ADVANCES |
|
|
|
|
|
|
Inventories |
100.874
|
126.537
|
82.773
|
|
|
Sundry Debtors |
276.324
|
170.745
|
241.981
|
|
|
Cash and Bank Balances |
72.995
|
43.160
|
63.325
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans and Advances |
179.269
|
248.616
|
115.502
|
|
Total
Current Assets |
629.462
|
589.058
|
503.581 |
|
|
Less : CURRENT
LIABILITIES and PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
41.154
|
54.770
|
104.522 |
|
|
Other Current Liabilities |
40.723
|
38.301
|
36.782 |
|
|
Provisions |
43.788
|
41.852
|
71.667 |
|
Total
Current Liabilities |
125.665
|
134.923
|
212.971 |
|
|
Net Current Assets |
503.797
|
454.135
|
290.610 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.024 |
0.027 |
0.030 |
|
|
|
|
|
|
|
|
TOTAL |
540.627 |
468.017 |
304.370 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
1761.688 |
NA |
|
|
|
Other Income |
NA |
|
NA |
|
|
|
TOTAL |
NA |
1761.688 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
1640.286 |
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
1640.286 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
130.747 |
121.402 |
204.257 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
43.685 |
41.959 |
72.415 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
87.062 |
79.443 |
131.842 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
39.330 |
52.268 |
72.825 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
63.02 |
57.50 |
102.24 |
|
%20LIMITED%20-%20205642%2003-Jan-2013_files/image001.gif){kind=small}
%20LIMITED%20-%20205642%2003-Jan-2013_files/image002.gif){kind=small}
%20LIMITED%20-%20205642%2003-Jan-2013_files/image003.gif){kind=small}
%20LIMITED%20-%20205642%2003-Jan-2013_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
4.51
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.02 |
20.39
|
40.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.37
|
0.81
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.59 |
0.82
|
1.05
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.01 |
4.36
|
2.36
|
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 one 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 |
No |
|
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 |
FIXED ASSETS:
- Land
- Plant and Machinery
- Electrical Installation
- Furnace
- Factory Shed
- Furniture and Fixture
- Typewriter
- Office Equipment
- Magnetic Separator
- Computer
- Fax Machine
- Motor Car
- Air Conditioners
- Generator
- H P Motor
- Coffee Machine
- Refrigerator
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. 54.39 |
|
|
1 |
Rs. 88.76 |
|
Euro |
1 |
Rs. 72.18 |
INFORMATION DETAILS
|
Report Prepared by
: |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.