|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN METALLOY RECYCLERS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
205, Tomani Bhuvan, Sant Sena Maharaj Marg, 2nd
Khumbharwada Lane, Mumbai – 400004, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
08.06.2011 |
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Com. Reg. No.: |
11-218452 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U28133MH2011PTC218452 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Metal Alloys, Stainless Steel, Scrape etc. |
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|
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 : |
Recently commenced business activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated during June 2011, it recently
commenced its business activities during January, 2012. The financial position of the company is weak. However, business is active. Payment terms are unknown. The company can be considered for business dealings on a safe and
secured 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 PARTED BY (General Details)
|
Name : |
Ms. Mac |
|
Designation : |
Accounts Departments |
|
Contact No.: |
91-22-66109257 |
|
Date : |
12.06.2013 |
LOCATIONS
|
Registered/ Head Office : |
205, Tomani Bhuvan, Sant Sena Maharaj Marg, 2nd
Khumbharwada Lane, Mumbai – 400004, Maharashtra, India |
||
|
Tel. No.: |
91-22- 66109257/ 28/ 66102819/
6639 4205 |
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Fax No.: |
91-22-23881661/ 91-80-66886086 |
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E-Mail : |
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Website : |
|||
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Location : |
Owned |
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||
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Factory : |
Gala No.1022, Nav Durga Compound, Sandeep Ware House, Val
Village, Bhiwandi Dapodi Road,
Bhiwandi District: Thane – 421302, Maharashtra, India |
||
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||
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Singapore Branch: |
C/O 1, North Bridge Road, # 19 04/05, High Street Centre, Singapore
179094. |
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Email : |
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Coimbatore Branch: |
54, Sarojini Street, Ramnagar, Coimbatore- 641009 |
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Email : |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Rakeshkumar Dineshkumar Mehta |
|
Designation : |
Director |
|
Address : |
334/B, Manchharam Building, 1st Floor, S.V.P. Road, Mumbai - 400 004,
Maharashtra, India |
|
Date of Birth/Age : |
14.08.1983 |
|
Date of Appointment : |
08.06.2011 |
|
DIN No.: |
03487703 |
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|
|
|
Name : |
Mr. Dineshkumar Bachhraj Mehta |
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Designation : |
Director |
|
Address : |
334/B, Manchharam Building, 1st Floor, S.V.P. Road, Mumbai - 400 004,
Maharashtra, India |
|
Date of Birth/Age : |
01.06.1967 |
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Date of Appointment : |
08.06.2011 |
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DIN No.: |
03487754 |
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Name : |
Mr. Deepak Dinesh Mehta |
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Designation : |
Director |
|
Address : |
334, Manchharam Building, B Block, 1st Floor, S.V.P. Road, Mumbai -
400 004, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1987 |
|
Date of Appointment : |
08.06.2011 |
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DIN No.: |
03487778 |
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|
|
|
Name : |
Mr. Bhaveshkumar Dineshkumar Mehta |
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Designation : |
Director |
|
Address : |
334, Manchharam Building, B Block, 1st Floor, S.V.P. Road, Mumbai -
400 004, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1986 |
|
Date of Appointment : |
08.06.2011 |
|
DIN No.: |
03487790 |
KEY EXECUTIVES
|
Name : |
Ms. Mac |
|
Designation : |
Accounts Departments |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rakeshkumar Dineshkumar Mehta |
|
12500 |
|
Dineshkumar Bachhraj Mehta |
|
12500 |
|
Deepak Dinesh Mehta |
|
12500 |
|
Bhaveshkumar Dineshkumar Mehta |
|
12500 |
|
|
|
|
|
Total |
|
50000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
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|
|
|
|
Directors or relatives of directors |
|
100.00 |
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|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Metal Alloys, Stainless Steel, Scrape etc. |
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Imports : |
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Products : |
Finished Goods/ Raw Materials |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
· Development Credit Bank · HDFC Bank |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Hiren Radadia and Associates Chartered Accountant |
|
Address : |
A/22, Savitridham, W.S. Road, Dahisar (East), Mumbai – 400068, Maharashtra,
India |
|
PAN No.: |
ADTPR4029G |
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 |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
|
|
|
|
|
i) Reconciliation
of number of equity shares and amount outstanding
|
Particulars |
As on 31.03.12 |
|
|
|
Number |
Rs. In Millions |
|
|
|
|
|
Shares Outstanding as at April 1, 2011 |
-- |
-- |
|
Shares Issued during the year |
50,000 |
0.500 |
|
Shares Issued during the year - Split |
-- |
-- |
|
Shares Issued during the year - Bonus |
-- |
-- |
|
Shares Outstanding as at March 31, 2012 |
50,000 |
0.500 |
ii) The Company
has only one class of equity shares having a face value of Rs.10 per share.
Each holder of the equity shares is entitled to one vote per share. In the event
of liquidation of Company the equity share holder are eligible to receive the
remaining asset after discharging all liabilities of the company in proportion
to their shareholding.
iii] Details of shareholders
holding more than 5% shares in the company
|
Particulars |
As on 31.03.12 |
|
|
|
No of Shares
Held |
% of Holding |
|
|
|
|
|
Dinesh Mehta |
12500 |
25% |
|
Rakesh Mehta |
12500 |
25% |
|
Bhavesh Mehta |
12500 |
25% |
|
Deepak Mehta |
12500 |
25% |
Bonus Shares/Buy
Back/Shares for consideration other than cash issued during the period of five
years immediately preceding the financial year ended 31st March 2012
a) Aggregate number
of equity shares allotted as fully paid up pursuant to contracts without
payment being received in cash: NIL
b) Aggregate
number of equity shares allotted as fully paid up allotted by way of Bonus
Shares: NIL
c) Aggregate
number of equity shares bought back: NIL
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
|
0.500 |
|
(b) Reserves & Surplus |
|
|
(0.110) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
0.390 |
|
(2)
Share Application money pending allotment |
|
|
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.135 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
0.008 |
|
(c) Other current
liabilities |
|
|
0.000 |
|
(d) Short-term provisions |
|
|
0.000 |
|
TOTAL |
|
|
0.533 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
0.000 |
|
(i) Tangible assets |
|
|
0.000 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.049 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash
equivalents |
|
|
0.484 |
|
(e) Short-term loans and
advances |
|
|
0.000 |
|
(f) Other current assets |
|
|
0.000 |
|
TOTAL |
|
|
0.533 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
0.159 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(0.159) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
(0.049) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) |
|
|
(0.110) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(2.20) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(32.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.41) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
60.50 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
|
|
31.03.2012 (Rs. In Millions) |
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
For Micro, Small and Medium Enterprises (MSME's) |
|
|
-- |
|
For Goods |
|
|
-- |
|
For Expenses |
|
|
0.008 |
|
|
|
|
|
|
Total |
|
|
0.008 |
|
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 one years |
Yes |
|
12] |
Profitability for last one 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 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs. In Millions) |
|
|
|
|
Long-Term Borrowings |
|
|
-Term Loan |
0.135 |
|
-Inter Corporate Loans |
0.000 |
|
|
|
|
Total |
0.135 |
OPERATIONS
During the year, Company had incurred a net loss after tax of Rs.0.110
Million. The directors do not recommend any dividend.
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.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
13 |
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.