|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE WEALTH MANAGEMENT LIMITED |
|
|
|
|
Formerly Known
As : |
RELIANCE MONEY LIMITED |
|
|
|
|
Registered
Office : |
570, Rectifier House,
Naigaum Cross Road, Next to Royal Industrial Estate, Wadala, Mumbai – 400031, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.01.2009 |
|
|
|
|
Com. Reg. No.: |
11-189285 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 115.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65999MH2009PLC189285 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR2560H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Portfolio management services except pension
funds |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 306700 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Reliance Capital Limited”. It is an
established company having a satisfactory track record. The company has reported some accumulated losses during 2012. There
are no borrowings recorded by the company. Trade relations are fair. Business is active. Payment terms are
usually correct. In view of experienced promoters and directors, the subject can be
considered normal 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.
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
MANAGEMENT NON-COOPERATIVE [91-22-33201212]
LOCATIONS
|
Registered Office : |
570, Rectifier
House, Naigaum Cross Road, Next to Royal Industrial Estate, Wadala, Mumbai –
400031, Maharashtra, India |
|
Tel. No.: |
91-22-33201212/ 30479400 |
|
Fax No.: |
91-22-30479450 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 01.06.2012
|
Name : |
Mr. Amit Bapna |
|
Designation : |
Director |
|
Address : |
503, Purna Apartments, Sir Pochkhanwala Road, Worli, Mumbai – 400030,
Maharashtra, India |
|
Date of Birth/Age : |
20.01.1975 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
27.04.2009 |
|
PAN No.: |
AAYPB9659A |
|
DIN No.: |
00008443 |
|
|
|
|
Name : |
Lav Ramji Chaturvedi |
|
Designation : |
Director |
|
Address : |
403-04, X Wing, Golden Rays, Shastri Nagar, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1976 |
|
Qualification : |
B.Com, MBA, CFA |
|
Date of Appointment : |
26.10.2010 |
|
PAN No.: |
AFLPC1260Q |
|
DIN No.: |
02859336 |
|
|
|
|
Name : |
Mr. Ashish Dhirajlal Turakhia |
|
Designation : |
Additional director |
|
Address : |
303, Devaki Apartment, Near Sanyas Ashram, Vithalbhai Road, Vile Parle
(West), Mumbai – 400056, Maharashtra, India
|
|
Date of Birth/Age : |
08.06.1963 |
|
Date of Appointment : |
25.01.2013 |
|
DIN No.: |
02601110 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Capital Limited, India |
|
11499930 |
|
Reliance Capital Limited jointly with Ashish Turakhia |
|
10 |
|
Reliance Capital Limited jointly with V R Mohan |
|
10 |
|
Reliance Capital Limited jointly with Amit Bapna |
|
10 |
|
Reliance Capital Limited jointly with Yogesh Deshpande |
|
10 |
|
Reliance Capital Limited jointly with Neeraj Dwivedi |
|
10 |
|
Reliance Capital Limited jointly with Parul Jain |
|
10 |
|
Reliance Capital Limited jointly with Chetan Raval |
|
10 |
|
|
|
|
|
Total |
|
11500000 |
AS ON 01.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Portfolio management services except pension
funds |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pathak H D and Associates Chartered Accountants |
|
Address : |
709, Tulsiani Chambers, 212, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFP1031C |
|
|
|
|
Fellow Subsidiary company : |
·
Reliance
Securities Limited [U65990MH2005PLC154052] ·
Reliance
Capital Asset Management (UK) Plc ·
Reliance
Money Express Limited [U74999MH2002PLC138032] ·
Reliance
Asset Management (Malaysia) Sdn. Bhd ·
Reliance
Spot Exchange Infrastructure Limited [U74990MH2009PLC189525] |
|
|
|
|
Holding company : |
Reliance Capital
Limited [L65910MH1986PLC165645] |
|
|
|
|
Ultimate Holding Company: |
Reliance
Innoventures Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 115.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
115.000 |
45.000 |
|
(b) Reserves & Surplus |
|
(38.326) |
(9.666) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
76.674 |
35.334 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.417 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.417 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
2.040 |
2.638 |
|
(c)
Other current liabilities |
|
0.975 |
0.799 |
|
(d) Short-term
provisions |
|
1.862 |
7.500 |
|
Total Current
Liabilities (4) |
|
4.877 |
10.937 |
|
|
|
|
|
|
TOTAL |
|
81.968 |
46.271 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1.449 |
1.765 |
|
(ii)
Intangible Assets |
|
2.238 |
2.818 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
3.687 |
4.583 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
33.193 |
39.540 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
4.088 |
1.781 |
|
(d) Cash
and cash equivalents |
|
40.138 |
0.146 |
|
(e)
Short-term loans and advances |
|
0.862 |
0.221 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
78.281 |
41.688 |
|
|
|
|
|
|
TOTAL |
|
81.968 |
46.271 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.288) |
|
|
NETWORTH |
|
|
0.212 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.212 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.225 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.225 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.013 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.013 |
|
|
Net Current Assets |
|
|
0.212 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.212 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
22.533 |
1.622 |
0.000 |
|
|
|
Other Income |
2.059 |
0.040 |
0.000 |
|
|
|
TOTAL (A) |
24.592 |
1.662 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
38.002 |
10.141 |
0.000 |
|
|
|
Other expenses |
14.225 |
0.823 |
0.288 |
|
|
|
TOTAL (B) |
52.227 |
10.964 |
0.288 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(27.635) |
(9.302) |
(0.288) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(27.635) |
(9.302) |
(0.288) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.025 |
0.076 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(28.660) |
(9.378) |
(0.288) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(28.660) |
(9.378) |
(0.288) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(9.666) |
(0.288) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(38.326) |
(9.666) |
(0.288) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.16) |
(6.67) |
(4.63) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(116.54)
|
(564.26)
|
0.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(127.19)
|
(578.18)
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(34.96)
|
(20.27)
|
(128.00)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.37)
|
(0.27)
|
(1.36)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.05
|
3.81 |
17.31 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT : NOT AVAILABLE
INDEX OF CHARGES - No Charges Exist for Company
|
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 |
Note:
The registered office of the company has been shifted from
4th Floor, Parijat House, Manjrekar Lane, Off Dr. E Moses Road, Worli Naka,
Mumbai – 400018, Maharashtra, India to the present w.e.f. 12.07.2010
FIXED ASSETS:
· Furniture and fixtures
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
·
Computer software
PRESS RELEASE
NATIONAL BANK OF OMAN
TIES UP WITH RELIANCE WEALTH MANAGEMENT
Dubai September 14, 2012
The bank will provide RWM's investment products to its
customers
National Bank of Oman has joined hands with India's Reliance Wealth Management (RWM) to provide RWM's investment products to NBO customers, according to media reports.
The agreement was signed by NBO's General Manager (Retail, Private and Overseas Banking Group) Harsh Munjal and Reliance Securities Executive Director Vikrant Gurnani.
The alliance between NBO and RWM focuses on building 'tailor-made' investment product portfolios for NBO's private banking customers.
Reliance brings in its local expertise in managing India specific investments, while NBO brings the onshore support platform to facilitate client investments, the reports said.
NBO believes the next stage of expansion is to develop its reach beyond basic banking.
NBO's Head of Private Banking and Sadara Wealth Management Moosa Al-Jadidi said, "We are delighted to join hands with Reliance Wealth Management and thereby extend the portfolio of services for our esteemed customers."
RWM is part of Reliance Capital. The various financial services under Reliance Capital include life insurance, general insurance, asset management, institutional and retail brokering, housing and consumer finance, investment banking and wealth management.
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. 59.69 |
|
|
1 |
Rs. 91.66 |
|
Euro |
1 |
Rs. 78.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.