MIRA INFORM REPORT
|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
GND ISPAT PRIVATE LIMITED KEDIA STEELS PROPRIETOR - GND ISPAT PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
GND Chambers, Bhaisthan, Agrasen Chowk, Raipur – 492001, Raipur,
Chhattisgarh |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
25.04.2005 |
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|
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Com. Reg. No.: |
10-017547 |
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Capital
Investment / Paid-up Capital : |
Rs.3.777 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U27101CT2005PTC017547 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Stockist and Supplier of Iron and Steel Commodity. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
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 a satisfactory track record. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. The company can be considered 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
06 June 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
06 June 2013 |
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. Deepak Kedia |
|
Designation : |
Director |
|
Contact No.: |
91-9827403533 |
|
Date : |
25.07.2013 |
LOCATIONS
|
Registered Office : |
GND Chambers, Bhaisthan, Agrasen Chowk, Raipur – 492001, Raipur,
Chhattisgarh, India |
|
Tel. No.: |
91-771-2535241/4030453/6459582/6458663 |
|
Mobile No.: |
91-9827403533 (Mr. Deepak Kedia) |
|
Fax No.: |
91-77-2535251 |
|
E-Mail : |
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|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Naresh Kedia |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Deepvatika 51 Sukha Jhadwali Gali, Samta Clony, Raipur – 492001,
Chhattisgarh, India |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
22.12.1957 |
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Date of Appointment : |
25.04.2005 |
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PAN No.: |
AEVPK0710Q |
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DIN No.: |
01281799 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||
|
Name : |
Mrs. Lalita Devi Kedia |
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|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Deepvatika 51 Sukha Jhadwali Gali, Samta Clony, Raipur – 492001,
Chhattisgarh, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.12.1963 |
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|
Date of Appointment : |
25.04.2005 |
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PAN No.: |
AEVPK0711R |
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|
DIN No.: |
00269820 |
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|
|||||||||||||||||||||||||||
|
Name : |
Mr. Deepak Kedia |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Deepvatika 51 Sukha Jhadwali Gali, Samta Clony, Raipur – 492001,
Chhattisgarh, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.10.1984 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
25.04.2005 |
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|
PAN No.: |
AKQPK6291H |
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DIN No.: |
00269774 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Naresh Kedia |
|
192000 |
|
Lalita Devi Kedia |
|
4000 |
|
Deepak Kedia |
|
140000 |
|
GND Infravest Private Limited, India |
|
41725 |
|
|
|
|
|
Total |
|
377725 |
As on 11.01.2013
|
Names of Allottees |
|
No. of Shares |
|
Deepak Kedia |
|
48000 |
|
Total |
|
48000 |
As on 05.03.2013
|
Names of Allottees |
|
No. of Shares |
|
Naresh Kedia |
|
7000 |
|
Total |
|
7000 |
As on 01.07.2013
|
Names of Allottees |
|
No. of Shares |
|
Naresh Kedia |
|
40000 |
|
Total |
|
40000 |
As on 05.12.2012
|
Names of Allottees |
|
No. of Shares |
|
Naresh Kedia |
|
37000 |
|
Lalita Devi Kedia |
|
30000 |
|
Total |
|
67000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
11.00 |
|
Directors or relatives of Directors |
89.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Stockist and Supplier of Iron and Steel Commodity. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
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Bankers : |
Union Bank of India, Samta Colony Branch, Raipur – 492001,
Chhattisgarh, India |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Mahendra Kashyap and Company Chartered Accountants |
|
Address : |
211, 2nd Floor Deshbandhu Complex Agrasen Chowk Samta
Colony Raipur – 492001, Chhattisgarh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AEWPK4438G |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital : Rs.6.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.5.997
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
377725 |
Equity Shares |
Rs.10/- each |
Rs. 3.777
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 |
|
3.777 |
3.210 |
|
(b) Reserves & Surplus |
|
46.678 |
31.402 |
|
(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) |
|
50.455 |
34.612 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
20.000 |
12.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
20.000 |
12.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
76.306 |
68.941 |
|
(b) Trade
payables |
|
85.001 |
61.473 |
|
(c) Other
current liabilities |
|
5.248 |
4.645 |
|
(d) Short-term
provisions |
|
0.480 |
1.018 |
|
Total Current
Liabilities (4) |
|
167.035 |
136.077 |
|
|
|
|
|
|
TOTAL |
|
237.490 |
182.689 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1.070 |
1.272 |
|
(ii)
Intangible Assets |
|
0.020 |
0.008 |
|
(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 |
|
0.566 |
0.606 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1.656 |
1.886 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
69.722 |
23.890 |
|
(c) Trade
receivables |
|
136.602 |
122.944 |
|
(d) Cash
and cash equivalents |
|
22.003 |
26.062 |
|
(e)
Short-term loans and advances |
|
7.507 |
7.907 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
235.834 |
180.803 |
|
|
|
|
|
|
TOTAL |
|
237.490 |
182.689 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.210 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
25.334 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
28.544 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
73.541 |
|
|
2] Unsecured Loans |
|
|
17.291 |
|
|
TOTAL BORROWING |
|
|
90.832 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
119.376 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.473 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
37.988
|
|
|
Sundry Debtors |
|
|
131.851
|
|
|
Cash & Bank Balances |
|
|
27.008
|
|
|
Other Current Assets |
|
|
0.124
|
|
|
Loans & Advances |
|
|
2.486
|
|
Total
Current Assets |
|
|
199.457
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
80.080
|
|
|
Other Current Liabilities |
|
|
0.417
|
|
|
Provisions |
|
|
1.057
|
|
Total
Current Liabilities |
|
|
81.554
|
|
|
Net Current Assets |
|
|
117.903
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
119.376 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1594.263 |
1182.500 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1584.226 |
1173.397 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.037 |
9.103 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.037 |
9.103 |
6.657 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.250 |
0.313 |
0.305 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.787 |
8.790 |
6.352 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.020 |
2.722 |
1.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.767 |
6.068 |
4.359 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.577 |
10.509 |
6.150 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
23.344 |
16.577 |
10.509 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.92 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.42
|
0.51 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.12
|
4.81 |
3.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.25 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.91
|
2.34 |
3.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.33 |
2.45 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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] |
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 |
Yes |
NOTE: Registered office of the company has been shifted
from GND Chambers, Bhairthan, Raipur – 492001, Chhattisgarh, India to the present address w.e.f.17.06.2013
REVIEW OF
OPERATIONS:
The gross turnover of the Company for financial year 2011-12 is Rs.
1593.387 Millions as compared to Rs. 1182.095 Millions of the previous
financial year. The net profit before tax of the Company has increased in the
current year from Rs. 8.790 Millions to Rs.9.787 Millions.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from directors |
20.000 |
12.000 |
|
|
|
|
|
Total |
20.000 |
12.000 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10069604 |
17/12/2011 * |
120,000,000.00 |
Union Bank of India |
Samta Colony Branch, Raipur- 492001, Chhattisgarh, India |
B29654738 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Buildings
- Other
building
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipments
Intangible assets
- Computer
software
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.