MIRA
INFORM REPORT
|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAY CEE ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
JAY CEE INDUSTRIAL CONSULTANTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-357, Greater Kailash II, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.07.1987 |
|
|
|
|
Com. Reg. No.: |
55-028666 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1987PTC028666 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ04282F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ1324K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Garments related Machines and Air
Conditioners. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears huge accumulated losses during 2012 due to which the networth
of the company has been completely eroded. External borrowings are huge and
increasing over previous year. However, Business is active. Payment terms are slow but delayed. 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.
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 |
D (Long Term Rating) |
|
Rating Explanation |
Default or are expected to be in default soon. |
|
Date |
10.10.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
D (Short Term Rating) |
|
Rating Explanation |
Default or are expected to be in default on maturity. |
|
Date |
10.10.2012 |
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.
LOCATIONS
|
Registered Office : |
E-357, Greater Kailash II, |
|
Tel. No.: |
91-11-41613736 / 3860 / 4351 |
|
Fax No.: |
91-11-41613738 |
|
E-Mail : |
jaycee.commercial@airtelmail.in jaycee.commercial@touchtelindia.net |
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
|
|
|
Head Office/ Corporate Office : |
Faqir Udyog, A-61/1, Okhla Industrial Area, Phase – II, |
|
Tel. No.: |
91-11-41616490 (3 Hunting Line)/ 26383611/ 26386847/ 41613736/ 3860/ 6348/ 6490 |
|
Fax No.: |
91-11-41613738/ 41613739 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located
at: ·
Bangalore ·
Chennai · Jaipur ·
Kanpur · Ludhiana ·
Secunderabad |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Ajay Kumar Malhotra |
|
Designation : |
Director |
|
Address : |
E-357, Greater Kailash - II, |
|
Date of Birth/Age : |
18.12.1958 |
|
Date of Appointment : |
01.02.1999 |
|
DIN No.: |
00769347 |
|
|
|
|
Name : |
Mrs. Sudarashan Malhotra |
|
Designation : |
Director |
|
Address : |
E-357, Greater Kailash - II, |
|
Date of Birth/Age : |
16.09.1936 |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
00770043 |
|
|
|
|
Name : |
Mr. Jagdish Chander Malhotra |
|
Designation : |
Managing Director |
|
Address : |
E-357, Greater Kailash - II, |
|
Date of Birth/Age : |
10.10.1932 |
|
Date of Appointment : |
20.07.1987 |
|
DIN No.: |
01216609 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jagdish Chander Malhotra |
|
84400 |
|
Sudarashan Malhotra |
|
2100 |
|
Bharati Malhotra |
|
750 |
|
Ajay Malhotra |
|
700 |
|
Rakhee Khanna |
|
850 |
|
Vibha Kapoor |
|
900 |
|
Rajinder Nath Seth |
|
100 |
|
Sharavan Kumar Shanan |
|
100 |
|
Praveeen Juneja |
|
100 |
|
Total |
|
90000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Garments related Machines and Air
Conditioners. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
· Corporation Bank, M-3 and 4, Greater Kailash-II, New Delhi - 110 048, India · ICICI Bank Limited · Corporation Bank |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Jain and Malhotra Chartered Accountants |
|
Address : |
42-B, |
|
Tel. No.: |
91-11-23367488/ 23347494/ 23363714 91-11-22375518/ 26017234 (Residential) |
|
E-Mail : |
|
|
PAN No.: |
AABFJ6391E |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs.100/-
each |
Rs.9.000
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 |
|
9.000 |
4.000 |
|
(b) Reserves & Surplus |
|
(23.085) |
(8.248) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
77.574 |
73.604 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
4.105 |
4.098 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
10.372 |
4.440 |
|
(c) Other current liabilities |
|
9.499 |
10.791 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
TOTAL |
|
87.465 |
88.685 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
16.001 |
15.458 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(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 |
|
4.059 |
5.761 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
49.913 |
43.014 |
|
(c) Trade receivables |
|
8.141 |
12.916 |
|
(d) Cash and cash equivalents |
|
2.501 |
3..080 |
|
(e) Short-term loans and advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
6.850 |
8.456 |
|
TOTAL |
|
87.465 |
88.685 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(2.926) |
|
|
NETWORTH |
|
|
(0.426) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
39.153 |
|
|
2] Unsecured Loans |
|
|
16.718 |
|
|
TOTAL BORROWING |
|
|
55.871 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
55.445 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
15.614 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
39.935
|
|
|
Sundry Debtors |
|
|
17.046
|
|
|
Cash & Bank Balances |
|
|
2.833
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
8.159
|
|
Total
Current Assets |
|
|
67.973 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
18.949
|
|
|
Other Current Liabilities |
|
|
8.193
|
|
|
Provisions |
|
|
1.000
|
|
Total
Current Liabilities |
|
|
28.142 |
|
|
Net Current Assets |
|
|
39.831
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
55.445 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
59.673 |
88.213 |
77.063 |
|
|
|
Other Income |
NA |
8.565 |
4.876 |
|
|
|
TOTAL |
NA |
96.778 |
81.939 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
86.922 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
102.054 |
86.922 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(1.484) |
(5.276) |
(4.983) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(1.484) |
(5.276) |
(4.983) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
1.825 |
|
|
|
|
|
|
|
|
|
Add/ Less |
Provision
Written back |
NA |
NA |
0.232 |
|
|
|
|
|
|
|
|
|
Add/ less |
Provision for
fringe benefit tax |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(2.926) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.311 |
4.585 |
3.545 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(16.49) |
(131.90) |
(332.20) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
5.45 |
(6.08)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.49
|
5.65 |
(6.47)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.70)
|
(6.16) |
(5.96)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
1.24 |
11.70
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(5.51)
|
(17.33) |
(131.15)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39
|
4.23 |
2.42
|
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 |
Yes |
|
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 |
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 |
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 |
Yes |
|
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 |
Yes |
LITIGATION
DETAILS:
CS(OS) 1760/2003
JUKI SINGAPORE PTE LIMITED
….Plaintiff
Through Mr. Dhruv Wahi and Mr. Brijesh Choudhary, Adv.
Versus
M/S. JAY CEE ENTERPRISES PRIVATE LIMITED and ANR
……..Defendants
Through Ms. Ankita Mahajan, Adv.
CORAM
MS. HEMANI MALHOTRA (DHJS), JOINT REGISTRAR
ORDER
05.06.2013
DWI Mr. Jagdish Chander Malhotra is further cross-examined in part.
Remaining cross-examination is deffered with direction to the witness to
produce the proforma invoice list provided to the defendants by the plaintiff
and bill of exchange pertaining to invoice No.37333 dated 23.05.2002 for
Rs.64745/-.
Refortify for remaining cross-examination of DWI on 7th
December, 2013
Hemani Malhotra (DHJS)
Joint Registrar
June 05, 2013
Ns
$ 4
GENERAL REVIEW:
The company's performance was not satisfactory during the year. The company could not achieve its desired turnover and profitability remained very poor due to continuous slow down. Further Brother International compounded the slow down and poor sales. They unilaterally changed the mode of supply for stock and sale. They entered into an agreement with their competitors for opening and maintain a warehouse for North India. Having sad experience from this company about Pegasus supplies, they declined to fall in line and insisted that they should continue to be supplied machines on L/C basis but in the process they wasted 7 months. In addition to stock business the indent business also virtually dried due to lack / diversification of support from Brother to the new Agent. After failing in all their attempts to persuade them that they being responsible for what they are today and having no other choice they decided to add/changeover to Sunstar, Korea who have been after them for the last 4 years and also procured 2 containers of machines for stock and sale and also booked indent business valuing about ,6million Dollars but due to Sunstar quality and policies decided to go, slow and promote their own brand Sewtex which is now well accepted amongst the Chinese Brand of machines.
During the International recession some of the manufacturing units closed down and the company lost considerable amount due to non payment from them for supply of machines and also for not providing C forms for inter-state supplies Further the cheques collected by them for supply of machines valuing about 30 laces were returned by the customers' bankers and the court cases are pending.
The Directors, however, feel strongly that being in the sunrise industry, this set back is temporary and are hopeful that with the economic measure further taken by the management the performance will improve and they will be able to achieve the net profit set by them for the financial year 2012-13.
UNSECURED LOAN:
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors and Shareholders |
24.074 |
15.848 |
|
Total |
24.074 |
15.848 |
FIXED ASSETS:
· Land
· Building
· Furniture and Fixture
· Office Equipments
· Xerox Machines
· Computer
· Punching and Binding Machines
· Cars
· Electronics Inventor
· Electronic Typewriter
· Machinery
· Service Equipments
· Refrigerator
· Air Conditioner
· Voltage Regulator
· Cycle
· Coolers
· Pager
· Printer
· UPS
· Mobiles
· Fans
· Generators
· Security Systems
· Safe
· Sign Boards
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 proeeding 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.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
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 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
12 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.