MIRA INFORM REPORT
|
Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SHANKAR SAW MILL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
67/26, Strand Road, Kolkata – 700006, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
04.04.2002 |
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Com. Reg. No.: |
21-094455 |
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Capital
Investment / Paid-up Capital : |
Rs.15.664 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20101WB2002PTC094455 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS09352A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Trading and Import of Timber and Logs. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 510000 |
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|
|
|
Status : |
Moderate |
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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. The profitability
of the company appears to be low. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with slight
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SHORT TERM LOAN : CRISIL A4 |
|
Rating Explanation |
Having minimal degree of safety regarding timely payment of financial obligation
it carry very high credit risk and are susceptible to default |
|
Date |
January, 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.
LOCATIONS
|
Registered Office : |
67/26, Strand Road, Kolkata – 700006, West Bengal, India |
|
Tel. No.: |
91-33-22591114 / 22591993 |
|
Fax No.: |
91-33-22591114 |
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E-Mail : |
DIRECTORS
As on 14.09.2012
|
Name : |
Mr. Purushottam Patel |
|
Designation : |
Director |
|
Address : |
79A, Nimtolla Ghat Street, Kolkata – 700006, West Bengal,
India |
|
Date of Appointment : |
04.04.2002 |
|
DIN No.: |
00555983 |
|
|
|
|
Name : |
Mr. Ankit Patel |
|
Designation : |
Director |
|
Address : |
79A, Nimtolla Ghat Street, Kolkata – 700006, West Bengal, India |
|
Date of Appointment : |
04.04.2002 |
|
DIN No.: |
00555428 |
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|
|
|
Name : |
Mr. Gopal Meghji Patel |
|
Designation : |
Director |
|
Address : |
79A, Nimtolla Ghat Street, Kolkata – 700006, West Bengal,
India |
|
Date of Appointment : |
04.04.2002 |
|
DIN No.: |
00671781 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 14.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ankit Patel |
|
126040 |
|
Anubhav Infrastructure Limited, India |
|
4000 |
|
Apex Proncon Private Limited, India |
|
600 |
|
Gopal M. Patel |
|
130659 |
|
Kokilaben Patel |
|
186686 |
|
Leena Patel |
|
285060 |
|
Lotus Dealmark Private Limited, India |
|
2000 |
|
Maa Vaishnavi Vanijya Private Limited, India |
|
400 |
|
Mayapur Merchandise Private Limited, India |
|
3800 |
|
Onkar Trexim Private Limited, India |
|
169000 |
|
Pashupati Dealcom Private Limited, India |
|
2200 |
|
Purushottam Patel |
|
127203 |
|
Ramaben Patel |
|
161696 |
|
Respect Vapaar Private Limited, India |
|
5500 |
|
Rita Patel |
|
178333 |
|
Sanjay Tie-Up Private Limited, India |
|
600 |
|
Shiv Shankar Exim Private Limited, India |
|
154323 |
|
Shree Ohm Properties Private Limited, India |
|
3400 |
|
Silverpoint Infratech Limited, India |
|
4100 |
|
Sundrm Consultants Private Limited, India |
|
3800 |
|
Trimurti Infradevlopers Private Limited, India |
|
1000 |
|
Trustworth Viniyog Private Limited, India |
|
1600 |
|
Vaikunth Vintrade Private Limited, India |
|
6540 |
|
Vigneshwar Dealmark Private Limited, India |
|
7900 |
|
Total |
|
1566440 |
Equity Share Break up (Percentage of Total Equity)
As on 14.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
23.67 |
|
Directors or relatives of directors |
|
24.51 |
|
Other top fifty shareholders |
|
51.82 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Trading and Import of Timber and Logs. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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||||||||||||
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Bankers : |
State Bank of India, Chowringhee Branch, Himalaya House,
38b, J. L. Nehru Road, Kolkata - 700071, West Bengal, India |
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Facilities : |
(Rs.
In Millions)
Notes: Primary
Security: Hypothecation of stocks and book debts and other current assets. Collateral
Security: a) Immovable
Property: i) Land at Baidyabati
Municipality, Post – Serampur, District – Hooghly ii) Commercial properties at
new town action area Post-Rajarhat, District 24 Pargana iii) STDR of Rs.40.000 Millions b) Third party
guarantee Personal guarantee of directors
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P K Biswal and Company Chartered Accountants |
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Address : |
46 B B Ganguli Street, Kolkata – 700012, West Bengal, India |
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Tel. No.: |
91-33-22375976 / 22377614 |
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E-Mail : |
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PAN No.: |
AFMPB6688N |
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Related Parties : |
Pontiac Merchants Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1566440 |
Equity Shares |
Rs.10/- each |
Rs.15.664
Millions |
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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 |
15.664 |
15.190 |
14.925 |
|
|
2] Share Application Money |
0.000 |
28.786 |
0.000 |
|
|
3] Reserves & Surplus |
111.766 |
47.480 |
40.630 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
127.430 |
91.456 |
55.555 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
64.118 |
44.257 |
30.379 |
|
|
2] Unsecured Loans |
12.876 |
17.211 |
5.166 |
|
|
TOTAL BORROWING |
76.994 |
61.468 |
35.545 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
204.424 |
152.924 |
91.100 |
|
|
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APPLICATION OF FUNDS |
|
|
|
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|
|
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FIXED ASSETS [Net Block] |
2.415 |
1.647 |
1.703 |
|
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Capital work-in-progress |
4.389 |
0.315 |
0.000 |
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|
|
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|
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INVESTMENT |
33.561 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.045 |
0.045 |
0.042 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
104.933
|
71.376 |
96.350 |
|
|
Sundry Debtors |
138.871
|
140.368 |
46.516 |
|
|
Cash & Bank Balances |
32.653
|
30.258 |
25.601 |
|
|
Other Current Assets |
0.000
|
1.100 |
0.015 |
|
|
Loans & Advances |
29.674
|
33.580 |
10.650 |
|
Total
Current Assets |
306.131
|
276.682 |
179.132 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
139.493
|
124.328 |
74.496 |
|
|
Other Current Liabilities |
0.385
|
0.553 |
14.148 |
|
|
Provisions |
2.239
|
0.884 |
1.230 |
|
Total
Current Liabilities |
142.117
|
125.765 |
89.874 |
|
|
Net Current Assets |
164.014
|
150.917 |
89.258 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.097 |
|
|
|
|
|
|
|
|
TOTAL |
204.424 |
152.924 |
91.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
643.703 |
536.023 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
643.703 |
536.023 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
640.724 |
534.581 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
640.724 |
534.581 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.355 |
2.979 |
1.442 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.102 |
0.126 |
0.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.253 |
2.853 |
1.304 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.355 |
0.884 |
0.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.898 |
1.969 |
0.892 |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX |
(0.001) |
0.003 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.445 |
2.474 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.306 |
4.445 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.85 |
1.30 |
0.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
0.31 |
0.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.38 |
1.03 |
0.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.03 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.60 |
0.67 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15 |
2.20 |
1.99 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
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 |
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 |
No |
|
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 |
DETAILS OF
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
From Directors and Relatives |
1.376 |
1.849 |
|
From Others |
11.500 |
15.362 |
|
Total |
12.876 |
17.211 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U20101WB2002PTC094455 |
|
Name of the company |
SHREE SHANKAR SAW MILL PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
67/26, Strand Road, Kolkata – 700006, West Bengal, India E-Mail Id : sawmill@cal3.vsnl.net.in |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10090459 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge Others (All other Current Assets) |
|
Particular of charge holder |
State Bank of India, Chowringhee Branch, Himalaya House, 38B, J. L. Nehru Road, Kolkata – 700071, West Bengal, India E-mail Id : tamal.roy@sbi.co.in |
|
Nature of instrument creating charge |
Supplemental Agreement of Loan-cum-Hypothecation. |
|
Date of instrument Creating the charge |
28.01.2013 |
|
Amount secured by the charge |
Rs.355.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: 4.25% above Base Rate with monthly rests. Terms of Repayment Working Capital Limit is repayable on demand. Margin As stipulated by the Bank for the respective assets from time to time. Raw Materials : (Indigenous) : 25%, Finished Goods : 25%, Domestic Receivables : 30% and Letter of Credit: 20%. Extent and Operation of the charge The charge operates as first charge basis on the whole of the hypothecated current assets of the Company, both present and future to secure the maximum amount under the said charge fixed at Rs.230.000 Millions together with interest, costs and charges thereon. Others The Borrower shall not do or allow anything which may prejudice the security and shall comply with the terms and conditions of the Agreements. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Hypothecation of stocks, Book Debts and other current assets, both present and future. |
|
Date of instrument modifying the charge |
27.11.2011 |
|
Particulars of the present modification |
By this modification, the overall limit is enhanced to Rs.355.000 Millions as stated under and charge on hypothecated current assets of the Company extended to secure the enhanced overall limit together with interest, costs and charges thereon: Cash Credit : Rs.130.000 Millions Letter of Credit : Rs.210.000 Millions SLC: Rs.15.000 Millions All other terms and conditions continue to remain as before in full force and effect. |
FIXED ASSETS:
- A C Machine
- Canon Copier
- CCTV Camera
- Computer
- Emergency Light
- EPBX Machine
- Fax Machines
- Fire Extinguisher
- Furniture
- Land
- Machineries
- Mobile Phone
- Motor Car
- Type Writer
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.54.34 |
|
|
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.