MIRA
INFORM REPORT
|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAGNACON ELECTRICALS INDIA LIMITED |
|
|
|
|
Registered
Office : |
Block BN, Sector-V, Saltlake Electronix Complex, P.S-
Bidhan Nagar East, Bidhan Nagar, Kolkata – 700091, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.11.1976 |
|
|
|
|
Com. Reg. No.: |
21-030769 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.79.166 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200WB1976PLC030769 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALM01269C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM3786B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Real Estate Developers |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 320000 |
|
|
|
|
Status : |
Project under implementation stage
|
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company incorporated in the year 1976. It is yet to commence
its commercial operation. As the company signature project “MAGANACON IT
PARK” is under implementation stage. However, networth of the company is
satisfactory. Payments are unknown. The company can be considered for business dealings with some caution.
|
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 : |
Block BN, Sector-V, Saltlake Electronix Complex, P.S-
Bidhan Nagar East, Bidhan Nagar, Kolkata – 700091, West Bengal, India |
|
Tel. No.: |
91-33-23671180 / 23573686 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 22.08.2012
|
Name : |
Mr. Ramesh Kumar Agarwalla |
|
Designation : |
Managing Director |
|
Address : |
15 Circuit House Area, Northwest Road 12, Sonari, Jamshedpur – 831011,
Jharkhand, India |
|
Date of Birth/Age : |
06.08.1953 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.03.2012 |
|
PAN No.: |
ABEPA6088K |
|
DIN No.: |
00572860 |
|
|
|
|
Name : |
Mr. Rohit Budhia |
|
Designation : |
Director |
|
Address : |
2B 6CH Area(Old), Opposite Army Camp, Jamshedpur – 831011, Jharkhand,
India |
|
Date of Birth/Age : |
04.03.1975 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
17.02.2011 |
|
PAN No.: |
AFDPB3496D |
|
DIN No.: |
00758561 |
|
|
|
|
Name : |
Mr. Piyush Kedia |
|
Designation : |
Director |
|
Address : |
29N, B Block, New Alipore, Kolkata – 700053, West Bengal, India |
|
Date of Birth/Age : |
23.09.1974 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
16.08.2010 |
|
PAN No.: |
AFAPK1162N |
|
DIN No.: |
01401431 |
|
|
|
|
Name : |
Mr. Rishi Jalan |
|
Designation : |
Director |
|
Address : |
Anandkunj Building, 17/2A, Burdwan Road, Kolkata – 700027, West
Bengal, India |
|
Date of Birth/Age : |
20.09.1974 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.08.2009 |
|
PAN No.: |
AEDPJ4071P |
|
DIN No.: |
00560652 |
KEY EXECUTIVES
|
Name : |
Ms. Mrinal Kedia |
|
Designation : |
Secretary |
|
Address : |
P277, CIT Road, Scheme- VI M, Kolkata – 700054, West Bengal,
India |
|
Date of Birth/Age : |
19.08.1981 |
|
Date of Appointment : |
08.03.2010 |
|
PAN No.: |
AFUPK9302G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
West Bengal Electronic Industry Development Corporation Limited, India |
|
200000 |
|
Geeta Intelligent Properties India Private Limited, India |
|
7700350 |
|
Geeta Intelligent Properties India Private Limited Jointly With Ramesh Agarwalla, India |
|
7500 |
|
Geeta Intelligent Properties India Private Limited Jointly With Vishal Agarwalla, India |
|
7500 |
|
Pulak Chamaria Jointly With Geeta Intelligent Properties India Private Limited, India |
|
250 |
|
Gouri Shankar Bajoria Jointly With Geeta Intelligent Properties India Private Limited, India |
|
250 |
|
Rishi Jalan Jointly With Geeta Intelligent Properties India Private Limited, India |
|
250 |
|
Satish Kalbalia Jointly With Geeta Intelligent Properties India Private Limited, India |
|
250 |
|
Piyush Kedia Jointly With Geeta Intelligent Properties India Private Limited, India |
|
250 |
|
Total |
|
7916600 |
Equity Share Break up (Percentage of Total Equity)
As on 22.08.2012
|
Category |
|
Percentage |
|
|
|
|
|
Govt. Companies |
|
2.53 |
|
Bodies corporate |
|
97.47 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developers |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Allahabad Bank, Gariahat Branch, 51D , Gariahat Road, Kolkata - 700019, West Bengal, India ·
Allahabad Bank, International Branch, 119 Park
Street, Kolkata - 700016, West Bengal, India ·
Federal Bank, Shakespeare Sarani
Branch, Kolkata – 700017, West Bengal, India Bank A/c No.: 14000200005753 |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R Kothari and Company Chartered Accountants |
|
Address : |
16A, Shakespeare Sarani, Kolkata-700071, West Bengal, India |
|
PAN No.: |
AAFFR7366B |
|
|
|
|
Holding Company : |
Geeta Intelligent Properties India Private Limited CIN No.: U70101WB2005PTC103483 |
|
|
|
|
Associates |
Infinity Build Homes Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8750000 |
Equity Shares |
Rs.10/- each |
Rs.87.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7916600 |
Equity Shares |
Rs.10/- each |
Rs.79.166
Millions |
|
|
|
|
|
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 |
79.166 |
79.166 |
79.166 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.934 |
0.934 |
0.934 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.100 |
80.100 |
80.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
80.100 |
80.100 |
80.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.758 |
60.562 |
60.561 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
239.399
|
15.728 |
15.132 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
101.683
|
0.672 |
0.228 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
88.613
|
10.900 |
7.792 |
|
Total
Current Assets |
429.695
|
27.300 |
23.152 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.917
|
0.000 |
3.565 |
|
|
Other Current Liabilities |
387.408
|
7.747 |
0.058 |
|
|
Provisions |
0.038
|
0.025 |
0.000 |
|
Total
Current Liabilities |
410.363
|
7.772 |
3.623 |
|
|
Net Current Assets |
19.332
|
19.528 |
19.529 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
80.100 |
80.100 |
80.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.00 |
0.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.12 |
0.10 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
3.51 |
6.39 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U31200WB1976PLC030769 |
|
Name of the company |
MAGNACON ELECTRICALS INDIA LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Block BN, Sector-V, Saltlake Electronix Complex, P.S- Bidhan Nagar East, Bidhan Nagar, Kolkata – 700091, West Bengal, India E-mail Id : mkedia@infinityitpark.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10349147 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Allahabad Bank, Gariahat Branch, 51D , Gariahat Road, Kolkata - 700019, West Bengal, India E-mail Id : albght@cal2.vsnl.net.in |
|
Nature of instrument creating charge |
Letter of mortgagor confirming Deposit of Title Deeds dt.23.03.2012 executed by the Company in favour of Allahabad Bank. |
|
Date of instrument Creating the charge |
23.03.2012 |
|
Amount secured by the charge |
Rs.780.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 4% per annum over the Allahabad Bank's Base rate which is at present 10.75% per annum ( i.e. effective interest rate 14.75% p.a.) with monthly rests. Terms of Repayment The loan is repayable in 26 equal quarterly installments of Rs.30.000 Millions each commencing after 24 months from the 1st date of disbursement with moratorium period of 3 months. Margin 63.67 % of the estimated total cost of the project Extent and Operation of the charge Equitable mortgage by way of first charge on leasehold land measuring 2 acres together with the entire constructed area at Plot no. 5 Block - BN, Sector-V, Salt Lake Electronics Complex, Kolkata-700091 along with all immovable plant and machineries, fixtures and fittings thereon whether present and future. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Leasehold land measuring 2 acres with entire constructed area at Plot no. 5 Block - BN, Sector-V, Salt Lake Electronic Complex, Kolkata-700091 along with all immovable plant and machineries, fixtures and fittings thereon whether present and future. |
|
Particulars of the present modification |
Term loan of Rs.780.000 Millions earlier secured by charge id 10349147 by way of creating charge on movable property and book debts stands modified with further creation of equitable mortgage by deposit of Title Deed dated 23.03.2012 in respect thereof and all the other terms and conditions remain same. |
FINANCIAL RESULTS
The Company is yet to start its commercial operations and all the expenses incurred during the year have been booked under pre operative expenses and transferred to work-in –progress.
PROJECT AND GENERAL
REVIEW
The Company signature project, MAGANACON IT PARK, an ultra modern IT Infrastructure at Saltlake, Sector-V, the heart of Kolkata IT hub, offering a complete range of services for both IT and ITeS Companies, has been awarded LEED India for Core and Shell Platinum level Pre-certification by Indian Green Building Council (IGBC). Your Directors are confident to complete the project within time.
FIXED ASSETS:
· Land
· Plant and equipment
· Furniture and fixtures
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.54.64 |
|
|
1 |
Rs.87.46 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.