|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUBTIEWEIGH ELECTRIC (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Beraberi, Sikherbagan, Sir Ramesh Mitra Road, P.O. R- Gopalpur,
Kolkata-700136, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.01.2003 |
|
|
|
|
Com. Reg. No.: |
21-095726 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.125 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29196WB2003PTC095726 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Industrial Automation
Equipments. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. There
appears sharp dip in the turnover during 2012 and the company has incurred
loss. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. 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 – 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 |
SE 3B |
|
Rating Explanation |
Moderate performance capability and moderate financial strength. |
|
Date |
October 2012 |
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. A Matra |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-9830322382 |
|
Date : |
29.05.2013 |
LOCATIONS
|
Registered Office/ Factory: |
Beraberi, Sikherbagan, Sir Ramesh Mitra Road, P.O. R- Gopalpur,
Kolkata-700136, West Bengal, India |
|
Tel. No.: |
91-33-65354933/ 2573716/ 64502111/ 12 |
|
Mobile No : |
91-9830322382 (Mr. A Matra) |
|
Fax No.: |
91-33-25735653 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Krishna Pant Baig |
|
Designation : |
Director |
|
Address : |
BL- 189, Sector -11, Salt lake, Kolkata-700091, West Bengal, India |
|
Date of Birth/Age : |
29.09.1967 |
|
Date of Appointment : |
30.04.2003 |
|
PAN No.: |
AILPB3356K |
|
DIN No.: |
00465260 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29196WB2003PTC095726 |
SUBTIEWEIGH
ELECTRIC (INDIA) PRIVATE LIMITED |
Director |
30-01-03 |
30-01-03 |
- |
Active |
NO |
|
2 |
U33129WB2005PTC100980 |
POWERPLUS
TECHNOLOGY (INDIA) PRIVATE LIMITED |
Director |
04-01-05 |
04-01-05 |
06-04-09 |
Active |
NO |
|
Name : |
Mr. Mirza Jawed Baig |
|
Designation : |
Director |
|
Address : |
BL- 189, Sector -11, Salt lake, Kolkata-700091, West Bengal, India |
|
Date of Birth/Age : |
05.11.1969 |
|
Date of Appointment : |
30.01.2003 |
|
PAN No.: |
AELPB1091D |
|
DIN No.: |
00465352 |
KEY EXECUTIVES
|
Name : |
Mr. A Matra |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Apex Goods Private Limited, India |
6000 |
|
Atharva Steels India Private Limited, India |
16500 |
|
Bhumi Vyapaar Private Limited, India |
7000 |
|
|
71000 |
|
Mirza Jawed Baig |
295000 |
|
Right Choice Distributor Private Limited, India |
7000 |
|
Twinkle Vanijya Private Limited, India |
10000 |
|
TOTAL
|
412500 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
11.00 |
|
Directors or relatives of Directors |
89.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Industrial Automation
Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||||||||||||||
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K Jana and Associates Chartered Accountant |
|
Address : |
94, Rajdanga Nabaplly Kasba, Kolkata-700107, West |
|
Tel. No.: |
91-33-40663086 |
|
Mobile No.: |
91-9830288801 |
|
E-Mail : |
|
|
PAN.: |
AAHFK8220F |
CAPITAL STRUCTURE
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 |
|
|
|
|
|
|
412500 |
Equity Shares |
Rs.10/- each |
Rs. 4.125
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 |
4.125 |
4.125 |
4.125 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
72.397 |
39.529 |
35.328 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
76.522 |
43.654 |
39.453 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
34.262 |
35.484 |
28.005 |
|
|
2] Unsecured Loans |
9.000 |
5.900 |
0.000 |
|
|
TOTAL BORROWING |
43.262 |
41.384 |
28.005 |
|
|
DEFERRED TAX LIABILITIES |
1.061 |
0.103 |
0.495 |
|
|
|
|
|
|
|
|
TOTAL |
120.845 |
85.141 |
67.953 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
47.868 |
59.717 |
59.344 |
|
|
Capital work-in-progress |
2.127 |
0.025 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.497
|
33.328
|
26.614
|
|
|
Sundry Debtors |
80.995
|
55.007
|
43.233
|
|
|
Cash & Bank Balances |
23.044
|
10.009
|
8.194
|
|
|
Other Current Assets |
1.969
|
0.960
|
0.000
|
|
|
Loans & Advances |
9.700
|
8.275
|
8.033
|
|
Total
Current Assets |
172.205
|
107.579 |
86.074 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
73.739
|
61.119
|
56.997
|
|
|
Other Current Liabilities |
17.021
|
17.774
|
16.841
|
|
|
Provisions |
10.595
|
3.287
|
3.639
|
|
Total
Current Liabilities |
101.355
|
82.180 |
77.477 |
|
|
Net Current Assets |
70.850
|
25.399
|
8.597
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
120.845 |
85.141 |
67.953 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
149.348 |
190.555 |
125.814 |
|
|
|
Servicing and Engineering Consultancy |
NA |
1.985 |
3.185 |
|
|
|
Other Income |
NA |
0.484 |
0.818 |
|
|
|
TOTAL (A) |
NA |
193.024 |
129.817 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase and Raw Material Consumed |
|
140.529 |
84.545 |
|
|
|
Direct Expenses |
|
11.872 |
7.288 |
|
|
|
Administrative and other Expenses |
|
25.092 |
23.613 |
|
|
|
TOTAL (B) |
|
177.493 |
115.446 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
15.531 |
14.371 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
3.472 |
4.498 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
12.059 |
9.873 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
6.320 |
6.838 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(15.798) |
5.739 |
3.035 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
1.538 |
1.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
NA |
4.201 |
1.365 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
17.553 |
16.188 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
21.754 |
17.553 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
10.18 |
3.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
2.17
|
1.05
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(10.58)
|
3.01
|
2.41
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.18)
|
3.43 |
2.09
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.21)
|
0.13 |
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57
|
0.95 |
0.71
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.31 |
1.11
|
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 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Body Corporate |
|
|
|
Jai Ambe Cassettes Private Limited |
1.000 |
0.000 |
|
Neha Casstles Private Limited |
2.000 |
0.000 |
|
Warner Multimedia Limited |
0.500 |
0.000 |
|
Intergrated Data Systems |
2.000 |
2.000 |
|
J M D Sounds Limited |
3.500 |
2.500 |
|
Others |
|
|
|
J K Automation* |
0.000 |
1.400 |
|
|
|
|
|
TOTAL |
9.000 |
5.900 |
|
NOTE LONG TERM
BORROWINGS * J K Automation
is a concern whereby one of the Director is proprietor. |
||
NOTE
The Registered office of the company has been shifted from P 109,
FINANCIAL RESULTS
The company has achieved a turnover of Rs. 149.348 Millions during the
year (Previous Year Rs. 216.693 Millions). During the year the company could
not achieve targeted turnover resulting which there is a Loss of Rs. 15.798
Millions (Previous year Profit Rs. 5.739 Millions) before provision for taxes.
To strengthen the financial situation the company sold out part of Land
Property during the year. There is a capital gain of Rs. 54.518 Millions
BUSINESS OPERATION
Their business operations is to provide complete industrial automation solutions
in the field of Process Automation and Plant Electricals in Steel, Cement and
Power sectors. The company has further strengthened Weighing and Batching
Systems in large scale which has shown very good prospect. It is pleasure to
inform that the company has been able to export Automation and Weighing Systems
in the international market.
FORM 8
|
Corporate
identity number of the company |
U29196WB2003PTC095726 |
|
Name of the
company |
SUBTIWEIGH ELECTRIC ( |
|
Address of the
registered office or of the principal place of business in |
Beraberi, Sikherbagan, Sir Ramesh Mitra Road, P.O. R- Gopalpur,
Kolkata-700136, West Bengal, India Email : sblweigh@rediffmail.com
|
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90370884 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
Central Bank of India, Belghoria Branch, 102, Fedder Road, Belghoria,
Kolkata-700056, West Bengal, India Email : bankservices.3005@yahoo.in
|
|
Nature of
instrument creating charge |
1) Sanction
Letter 2) D. P. Note 3) Board
Resolution |
|
Date of
instrument Creating the charge |
23.08.2012 |
|
Amount secured by
the charge |
Rs.51.719
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per earlier
agreement Terms of
Repayment As per earlier
agreement Margin As per earlier
agreement Extent and
operation of the charge As per earlier
agreement |
|
Short particulars
of the property charged |
As per earlier
agreement |
|
Particulars of
the present modification |
By this
modification, temporary Adhoc limit sanctioned of Rs.4.000 Millions.
Therefore, total limit has been enhanced from Rs.47.719 Millions to Rs.51.719
Millions |
FIXED ASSETS
·
Land
·
Factory Building and Factory
Shed
·
Electrical Installation
·
Furniture and Fixtures
·
Computer
·
Motor Car
·
Plant and Machinery
·
Office Equipments.
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. 56.86 |
|
|
1 |
Rs. 87.64 |
|
Euro |
1 |
Rs. 74.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
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Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.