MIRA
INFORM REPORT
|
Report Date : |
08.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
HITPLAY DEVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.-1-B, Laaj, Off North Avenue, 18Th Road, Santacruz West,
Mumbai – 400054, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.09.2006 |
|
|
|
|
Com. Reg. No.: |
11-164829 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109MH2006PTC164829 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH12789A |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABCH7446R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Office Items, Gadgets, Travel Items. |
|
|
|
|
No. of Employees
: |
8 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. There appear accumulated losses recorded by the company. However, company has performed well in the current year. Trade
relations are reported to be fair. Business is active. Payments are reported
to be slow. The company can be considered for business dealings on a safe and
secured 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.
INFORMATION PARTED BY
|
Name : |
Mr. Prashant |
|
Designation : |
Accountant Manager |
|
Contact No.: |
91-9930309656 |
|
Date : |
02.01.2013 |
LOCATIONS
|
Registered Office : |
No.-1-B, Laaj, Off North Avenue, 18Th Road, Santacruz West,
Mumbai – 400054, Maharashtra, India |
|
Tel. No.: |
91-22-26052297/65885504 |
|
Mobile No.: |
91-9820230737 (Mr. Champ) |
|
Fax No.: |
91-22-26462004 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Chirag Alreja |
|
Designation : |
Director |
|
Address : |
1, Laaj, 18th Road, Santacruz – West, Maharashtra, India |
|
Date of Appointment : |
22.09.2006 |
|
DIN No.: |
00377586 |
|
|
|
|
Name : |
Mr. Pradeep Alreja |
|
Designation : |
Director |
|
Address : |
1, Laaj, 18th Road, Santacruz – West, Maharashtra, India |
|
Date of Appointment : |
22.09.2006 |
|
DIN No.: |
00377729 |
|
|
|
|
Name : |
Mr. Jharna Alreja |
|
Designation : |
Director |
|
Address : |
1, Laaj, 18th Road, Santacruz – West, Maharashtra, India |
|
Date of Appointment : |
22.09.2006 |
|
DIN No.: |
00377929 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant |
|
Designation : |
Accountant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
Chirag Alreja |
44500 |
|
Pradeep Alreja |
5000 |
|
Jharna Alreja |
500 |
|
|
|
|
TOTAL
|
50000 |
AS ON 30.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Office Items, Gadgets, Travel Items. |
|
|
|
|
Imports : |
|
|
Products : |
·
Office Items ·
Gadgets ·
Travel Items |
|
Countries : |
·
Hong Kongs ·
UK ·
Europe |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Total Gift Solutions Private Limited, Bangalore |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
·
eBay India Private Limited,
Mumbai · DSF Technology Consultants Private Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
8 (Approximately) |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Bankers : |
·
Indian Overseas Bank, Sadhana, 378, L J Road,
Mahim Branch, Mumbai – 400016, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ghatalia Darji and Associates Chartered Accountant |
|
Address : |
414,Ijmima, Behind Goregaon Sport Club, Off, Link Road, Mumbai –
400064, Maharashtra, India |
|
Tel. No.: |
91-2888-0338, 2881-8488 |
|
E-Mail : |
|
|
PAN No.: |
AAKFG0406E |
CAPITAL STRUCTURE
After 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
As On 31.032012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.466) |
(0.907) |
(1.024) |
|
|
NETWORTH |
(0.366) |
(0.807) |
(0.924) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.102 |
7.558 |
5.462 |
|
|
2] Unsecured Loans |
0.662 |
0.512 |
0.611 |
|
|
TOTAL BORROWING |
7.764 |
8.070 |
6.073 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.398 |
7.263 |
5.149 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.662 |
0.353 |
0.253 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.373
|
3.827 |
2.525 |
|
|
Sundry Debtors |
1.744
|
1.677 |
2.153 |
|
|
Cash & Bank Balances |
0.311
|
0.160 |
0.239 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.388
|
2.206 |
0.197 |
|
Total
Current Assets |
8.816
|
7.870 |
5.114 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.766
|
0.709 |
0.156 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.314
|
0.251 |
0.066 |
|
Total
Current Liabilities |
2.080
|
0.960 |
0.222 |
|
|
Net Current Assets |
6.736
|
6.910 |
4.892 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
7.398 |
7.263 |
5.149 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11.202 |
5.337 |
3.893 |
|
|
|
Other Income |
0.000 |
0.008 |
0.037 |
|
|
|
TOTAL (A) |
11.202 |
5.345 |
3.930 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials consumed |
5.928 |
3.763 |
|
|
|
|
Purchased of Stock in trade |
|
|
|
|
|
|
Changes in inventories of finished goods, work in progress and
stock-in-trade |
(0.545) |
(1.302) |
3.816 |
|
|
|
Employee benefit expenses |
1.557 |
0.484 |
|
|
|
|
Other operating expenses |
3.652 |
2.208 |
|
|
|
|
Increase in stock |
0.000 |
0.000 |
|
|
|
|
TOTAL (B) |
10.592 |
5.153 |
3.816 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.610 |
0.192 |
0.114 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.037 |
0.037 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.573 |
0.155 |
0.114 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.056 |
0.039 |
0.051 |
|
|
|
|
|
|
|
|
|
Less |
Extraordinary
items |
0.077 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.440 |
0.116 |
0.063 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.440 |
0.116 |
0.049 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.908) |
(1.024) |
(1.073) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.468) |
(0.908) |
(1.024) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
0.000 |
2.350 |
1.561 |
|
|
TOTAL IMPORTS |
0.000 |
2.350 |
1.561 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
44.10 |
11.64 |
4.98 |
|
|
|
Diluted |
44.10 |
11.64 |
4.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.93
|
2.17 |
1.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.93
|
2.17 |
170.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.64
|
1.41 |
0.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.31)
|
(0.14) |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(6.19)
|
(1.19) |
(0.24) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.24
|
8.20 |
1.04 |
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U32109MH2006PTC164829 |
|
Name of the
company |
HITPLAY DEVICES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
No.-1-B, Laaj, Off North Avenue, 18Th Road, Santacruz West,
Mumbai – 400054, Maharashtra |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Indian Overseas Bank, Sadhana, 378, L J Road, Mahim Branch, Mumbai –
400016, Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of
Hypothecation in F-110E |
|
Date of instrument
Creating the charge |
12.10.2009 |
|
Amount secured by
the charge |
Rs. 7.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 11.00% p.a. Terms of repayment Repayable on
Demand Margin 30% Extent and operation of the charge The charge is to
operate as security, by way of first exclusive charge, for the repayment of
Cash Credit under ETF limit of Rs.7.500 Millions together with interest,
additional interest, costs, charges, expenses and all other moneys payable by
the said borrower to the Bank in terms of sanction. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation, by
way of first charge, of all the company’s stock of electrical and electronic
devices stored or to be stored at the company’s premises or elsewhere. |
TRADE REFERENCES
·
Total Gift Solutions Private Limited, Bangalore
·
eBay India Private Limited, Mumbai
· DSF Technology Consultants Private Limited
FIXED ASSETS
·
Office Equipment
·
Computers
·
Cell Phone
·
Cycle
·
Furniture and Fixture
·
Camera (CCTV)
·
Canon Camera
·
Website Development
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.54.97 |
|
|
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.71.66 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVD |
|
|
|
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
|
18 |
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.