|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
DANONE NARANG BEVERAGES PRIVATE LIMITED (w.e.f. 30.12.2010) |
|
|
|
|
Formerly Known
As : |
NARANG BEVERAGES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Hall No.3, Sarkar Heritage, Kane and B.J. Road, Bandstand, Bandra
(West), Mumbai – 400 050, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
30.06.2011 |
|
|
|
|
Date of
Incorporation : |
24.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-173425 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.0.204
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15500MH2007PTC173425 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of EMCG Product (Mineral Water). |
|
|
|
|
No. of
Employees: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1025000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
management of the company has not filed its latest financials with the
Government Department. From the previous year available financial i.e. June 2011 it seems
that the company has recorded some accumulated losses. However, trade
relations are reported as fair. Business is active. Payment terms are
unknown. 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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 : |
Ms. Armee |
|
Designation : |
Assistant Finance Manager |
|
Contact No.: |
91-9167317798 |
|
Date : |
07.03.2013 |
LOCATIONS
|
Registered Office : |
Hall No.3, Sarkar Heritage, Kane and B.J. Road, Bandstand, Bandra
(West), Mumbai – 400 050, Maharashtra, India |
|
Tel. No.: |
91-22-61330605 / 61330508 |
|
Mobile No.: |
91-9167317798 (Ms. Armee) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
Adhya Himalaya
Water Plot 81 D1 EPIP, Phase I, Jharmjri, Baddi, District Solan, Himachal
Pradesh, India |
|
Tel. No.: |
91-1795-271600 |
DIRECTORS
As on 27.12.2011
|
Name : |
Mr. Rahul Rama Narang |
|
Designation : |
Director |
|
Address : |
Narang House, 40, Pali Hill, Zig Zag Road, Bandra (West), Mumbai – 400
050, Maharashtra, India |
|
Date of Birth/Age : |
10.04.1974 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00029995 |
|
|
|
|
Name : |
Mrs. Mona Rama Narang |
|
Designation : |
Additional Director |
|
Address : |
Narang House, 40, Pali Hill, Zig Zag Road, Bandra (West), Mumbai – 400
050, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1947 |
|
Date of Appointment : |
02.03.2009 |
|
DIN No.: |
02966597 |
|
|
|
|
Name : |
Mr. Vincent Robert |
|
Designation : |
Director |
|
Address : |
09, |
|
Date of Birth/Age : |
20.09.1958 |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
03187008 |
|
|
|
|
Name : |
Mr. Bernard Alain Marie Ducros |
|
Designation : |
Nominee Director |
|
Address : |
JL Cilandak Bawah I No.65, Jakarta Selatan, Indonesia-12430 |
|
Date of Birth/Age : |
19.04.1949 |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
03128257 |
|
|
|
|
Name : |
Mr. Morten Schott Knudsen |
|
Designation : |
Nominee Director |
|
Address : |
9, Nathan Road, #16-03, Regency Park, Singapore-248730, Singapore |
|
Date of Birth/Age : |
25.12.1970 |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
03279297 |
KEY EXECUTIVES
|
Name : |
Ms. Armee |
|
Designation : |
Assistant Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.12.2011
|
Names of Shareholders |
No. of Shares |
|
Rahul Rama Narang |
9999 |
|
Myen Pte Limited, Singapore |
10409 |
|
Narang Buzz Services Private Limited, India |
1 |
|
TOTAL |
20409 |
As on 27.12.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.002 |
|
Bodies
corporate |
|
0.005 |
|
Directors
or relatives of directors |
|
48.993 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of EMCG Product (Mineral Water). |
|
|
|
|
Brand Names : |
“QUA” |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
|
|
|
|
Bankers : |
·
Citi Bank, Fort Branch, Mumbai, Maharashtra,
India ·
HDFC Bank Limited |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Plot No.Y-14, Block-EP, Sector-V, Salt Lake Electronic Complex, Bidhan
Nagar, Kolkata – 700 091, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAHFP0187A |
|
|
|
|
Holding Company : |
Myen Pte. Limited, Singapore |
CAPITAL STRUCTURE
As on 30.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20409 |
Equity Shares |
Rs.10/- each |
Rs.0.204
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.204 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
317.277 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(61.312) |
(0.079) |
(0.071) |
|
|
NETWORTH |
256.169 |
0.021 |
0.029 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.110 |
0.012 |
0.020 |
|
|
TOTAL BORROWING |
0.110 |
0.012 |
0.020 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
256.279 |
0.033 |
0.049 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.823 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.723
|
0.000
|
0.000 |
|
|
Sundry Debtors |
32.871
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
191.575
|
0.035
|
0.100 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
77.602
|
0.000
|
0.000 |
|
Total
Current Assets |
303.771
|
0.035 |
0.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
51.593
|
0.014
|
0.000 |
|
|
Other Current Liabilities |
3.705
|
0.000
|
0.000 |
|
|
Provisions |
0.017
|
0.000
|
0.063 |
|
Total
Current Liabilities |
55.315
|
0.014 |
0.063 |
|
|
Net Current Assets |
248.456
|
0.021
|
0.037 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.012 |
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
256.279 |
0.033 |
0.049 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
127.384 |
0.000 |
0.000 |
|
|
|
Other Income |
15.001 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
142.385 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold (Finished Goods) |
101.737 |
0.000 |
0.000 |
|
|
|
Employee Costs |
23.197 |
0.000 |
0.000 |
|
|
|
Other Expenses |
76.315 |
0.008 |
0.059 |
|
|
|
TOTAL (B) |
201.249 |
0.008 |
0.059 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(58.864) |
(0.008) |
(0.059) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
0.072 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(58.936) |
(0.008) |
(0.059) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.298 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(61.234) |
(0.008) |
(0.059) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(61.234) |
(0.008) |
(0.059) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(0.079) |
(0.071) |
(0.012) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(61.313) |
(0.079) |
(0.071) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Miscellaneous Income |
NA |
1.833 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
1.833 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
NA |
1.534 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
1.534 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3341.17) |
(0.80) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(43.01)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(48.07)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.65)
|
(22.86) |
(59.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.24)
|
(0.38) |
(2.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.57 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.49
|
2.50 |
1.59 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
30.06.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
31.03.2009 (Rs.
in Millions) |
|
Sundry Creditors
|
|
|
|
|
Sundry creditors for goods and expenses |
51.593 |
0.014 |
0.000 |
|
Total |
51.593 |
0.014 |
0.000 |
|
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 |
No |
|
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 |
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 |
No |
|
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 |
30.06.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
Short Term Loan from a Director |
0.110 |
0.010 |
|
Others |
0.000 |
0.002 |
|
Total |
0.110 |
0.012 |
Note:
The registered office of the company has been shifted from 462, Phoenix C Wing,
Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra to the
present address w.e.f. 15.01.2008.
CHANGE OF NAME OF
THE COMPANY
During the financial period the Company has changed its name from
“Narang Beverages Private Limited” to “DANONE NARANG BEVERAGES PRIVATE LIMITED”
on 18th November, 2010 and complied with all the applicable laws,
rules, regulation etc. It has received fresh certificate of incorporation dated
30th December, 2010 from Ministry of Corporate Affairs, Mumbai,
Maharashtra consequent upon change of its name
FIXED ASSETS:
·
Plant and Machinery
·
Office Equipments
·
Computers
·
Vehicles
WEBSITE DETAILS:
PRESS RELEASE:
DANONE NARANG CHOOSES
TRIBAL DDB INDIA FOR B’LUE
December 6, 2012
Tribal DDB India of the DDB Mudra Group has won the digital duties of B’lue, a brand from Danone Narang Beverages Private Limited, a joint venture between the reputed French food and beverages major, Danone and Mumbai based Narang Group. It won the account after a multi round, multi agency pitch.
B'lue is a delicious, water based drink that is enriched with special blend of vitamins and minerals. This Uplifting drink is available in apple, peach and guava flavors. It provides essential nutrients while its stimulating fruit flavors and aroma awaken the mind and uplift one's mood.
Said Venkat Mallik, President, Rapp and Tribal DDB India on the recent win, “We
are delighted to be working with Danone Narang Beverages on their
new drink – B’lue. B’lue is representative of the kind of new age products
that are most suited to today's lifestyles where functionality, taste and
health need to co-exist. The target group for a brand like B’lue is likely to
be very digital savvy and we expect digital's role in building the brand to be
very crucial. We look forward to creating highly innovative digital solutions
for the launch of this brand.”
DANONE-NARANG LAUNCHES RESTORATIVE DRINK B'LUE
Pune, December 2:
Danone-Narang
Beverages Private Limited (DNB) has launched a new segment in the beverage
industry with B’lue, a water-based restorative drink.
Customised
specifically for the Indian market, B’lue is being test-marketed in Pune for a
few months before launch across the country, Mr. Pierre Betat, Country Manager,
DNB, said.
B’lue, a
colourless drink, introduced in Apple and Guava flavours and containing
natural-identical aroma, vitamins and minerals, is being made at Pushpam Foods,
where DNB has invested in a new bottling line.
Set up in July
2010, DNB is a joint venture company between French group Danone and
India-based Narang group, with the former holding the majority stake.
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.54.40 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.