MIRA INFORM REPORT
|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
LIBERTY OIL MILLS LIMITED |
|
|
|
|
Registered
Office : |
Village Banme Taluka Shahanpur, Thane – 421602, |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.04.1978 |
|
|
|
|
Com. Reg. No.: |
11-020274 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15140MH1978PLC020274 |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer of refined oils and vansapati. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4700000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. General
financial position of the company is good. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
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 – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Non fund Based Limits A2 (ind) |
|
Rating Explanation |
Good Credit quality |
|
Date |
27 April 2012 |
|
Rating Agency Name |
FITCH |
|
Rating |
Fund Based Limits (BBB) |
|
Rating Explanation |
Good Credit quality |
|
Date |
27 April 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/Factory : |
Village Banme Taluka Shahanpur, Thane – 421602, |
|
Tel. No.: |
95-2527-274000 |
|
Fax No.: |
95-2527-274050 |
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E-Mail : |
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|
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Head Office : |
D Wing, |
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Tel. No.: |
91-22-66381000 |
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Fax No.: |
91-22-66381050 |
|
E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Parvez H. Kader |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
02.06.1959 |
|
Date of Appointment : |
03.04.1978 |
|
DIN No.: |
00546469 |
|
|
|
|
Name : |
Mr. Esmail A Kader |
|
Designation : |
Whole time Director |
|
Address : |
|
|
Date of Birth/Age : |
25.06.1927 |
|
Date of Appointment : |
03.04.1978 |
|
DIN No.: |
00547164 |
|
|
|
|
Name : |
Mr. Ibrahim A Kader |
|
Designation : |
Whole time Director |
|
Address : |
|
|
Date of Birth/Age : |
22.07.1936 |
|
Date of Appointment : |
27.07.1987 |
|
DIN No.: |
00547190 |
|
|
|
|
Name : |
Mr. Afzal E. Kader |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
03.10.1953 |
|
Date of Appointment : |
30.01.2003 |
|
DIN No.: |
01275547 |
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|
|
|
Name : |
Mr. Najib H Kader |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.11.1967 |
|
Date of Appointment : |
30.01.2003 |
|
DIN No.: |
00547214 |
|
|
|
|
Name : |
Mr. Zaid Afzal Kader |
|
Designation : |
Whole time Director |
|
Address : |
|
|
Date of Birth/Age : |
31.01.1989 |
|
Date of Appointment : |
17.06.2011 |
|
DIN No.: |
03554382 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
12.32 |
|
Directors or relatives of Directors |
86.32 |
|
Others |
1.36 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of refined oils and vansapati. |
||||||
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||||||
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|
Bankers : |
Bank of India -
Lead Bank, Mumbai Large Corporate Br.Oriental Building,, Ground Floor, 364, D.N.
Road, Fort, Mumbai – 400001, Maharashtra, India |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
B. M Mehta and Company Chartered Accountants |
|
Address : |
11 A, Keval Mahal, 5th floor Near Vankhade Stadium, Netaji subhash
Chandra road, |
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PAN No.: |
AEYPM5207M |
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Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 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 |
100.000 |
100.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1095.712 |
936.799 |
819.940 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1195.712 |
1036.799 |
919.940 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
583.448 |
796.112 |
1171.740 |
|
|
TOTAL BORROWING |
583.448 |
796.112 |
1171.740 |
|
|
DEFERRED TAX LIABILITIES |
69.202 |
74.674 |
72.815 |
|
|
|
|
|
|
|
|
TOTAL |
1848.362 |
1907.585 |
2164.495 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
854.450 |
565.772 |
622.5765 |
|
|
Capital work-in-progress |
11.358 |
190.008 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
28.928 |
28.938 |
28.937 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3594.143
|
2591.398 |
3068.915 |
|
|
Sundry Debtors |
336.288
|
353.265 |
299.618 |
|
|
Cash & Bank Balances |
14459.457
|
11739.495 |
10511.506 |
|
|
Other Current Assets |
771.795
|
496.806 |
0.000 |
|
|
Loans & Advances |
403.969
|
482.666 |
307.822 |
|
Total
Current Assets |
19565.652
|
15663.630 |
14187.861 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18515.734
|
14462.673 |
12618.381 |
|
|
Other Current Liabilities |
96.092
|
77.990 |
55.293 |
|
|
Provisions |
0.200
|
0.100 |
1.204 |
|
Total
Current Liabilities |
18612.026
|
14540.763 |
12674.878 |
|
|
Net Current Assets |
953.626
|
1122.867 |
1512.983 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1848.362 |
1907.585 |
2164.495 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
23285.878 |
18302.631 |
15611.692 |
|
|
|
Other Income |
1269.407 |
1009.366 |
777.839 |
|
|
|
TOTAL (A) |
24555.285 |
19311.997 |
16389.531 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
11311.553 |
7219.431 |
|
|
|
|
Purchases of stock-in-trade |
11362.472 |
9547.380 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(763.358) |
629.731 |
|
|
|
|
Employee benefit expense |
182.242 |
177.049 |
|
|
|
|
Other expenses |
2065.314 |
1405.976 |
|
|
|
|
TOTAL (B) |
24158.223 |
18979.567 |
16234.923 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
397.062 |
332.430 |
154.608 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
81.646 |
58.867 |
8.168 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
315.416 |
273.563 |
146.440 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
84.554 |
96.228 |
113.711 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
230.862 |
177.335 |
32.729 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
68.367 |
56.480 |
9.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
162.495 |
120.855 |
23.179 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
195.221 |
124.366 |
111.187 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
100.000 |
50.000 |
10.000 |
|
|
BALANCE CARRIED
TO THE B/S |
257.716 |
195.221 |
124.366 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB |
41.561 |
33.272 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.25 |
12.09 |
2.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.66
|
0.63 |
0.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.99
|
0.97 |
0.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.18
|
1.13 |
0.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.17 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.49
|
0.77 |
1.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.08 |
1.12 |
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
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 |
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 |
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Deposits from others |
5.808 |
6.192 |
|
Other loans and advances, others |
577.640 |
789.920 |
|
Total |
583.448 |
796.112 |
PERFORMANCE
During the year, the company reported a sales turnover and other income
of Rs. 24555.300 Millions as against Rs.19311.900 Millions of corresponding
last financial year. Profit before tax is Rs.230.862 Millions, as against
previous year’s figure of Rs.177.335 Millions, while Profit after tax is
Rs.162.495 Millions as against previous year’s figure of Rs.120.855 Millions
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U15140MH1978PLC020274 |
|
Name of the
company |
LIBERTY OIL MILLS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Villgae Banmetaluka Shahanpur, Thane – 421602, |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
90151288 |
|
Type of charge |
|
|
CIN |
U15140MH1978PLC020274 |
|
Particular of
charge holder |
Bank of India - Lead
Bank, Mumbai Large Corporate Br.,Oriental Building,, Ground Floor, 364, D.N.
Road, Fort, Mumbai – 400001, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Mortgage/Further Charge |
|
Date of
instrument Creating the charge |
20.11.2012 |
|
Amount secured by
the charge |
RS.10365.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of
interest charged is as per applicable terms and conditions which are
described in more detail in Deed of Mortgage/Further Charge dated 20/11/2012
and as notified by the Bank. Terms of
Repayment As per applicable
terms and conditions which are described in more detail in Deed of
Mortgage/Further Charge dated 20/11/2012 and as notified by the Bank. Margin As per applicable
terms and conditions which are described in more detail in Deed of
Mortgage/Further Charge dated 20/11/2012 and as notified by the Bank. Extent and
Operation of the charge As per applicable
terms and conditions which are described in more detail in Deed of
Mortgage/Further Charge dated 20/11/2012 and as notified by the Bank. Others As per applicable
terms and conditions which are described in more detail in Deed of
Mortgage/Further Charge dated 20/11/2012 and as notified by the Bank. Note - The Deed
of Mortgage/Further Charge creating/modifying Charge dated 20/11/2012 is of 1
to100 pages but only relevant pages are attached due to constraint on the the
Size of this Form. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1)Immoveable
properties, 2) Plant and Machinery etc. and other moveable assets, 3)Current assets
of the mortgagor in respect of the project of Oil Mills at Village Bamne,
Taluka Shahapur,Dist. Thane, Maharashtra.
Which is more particularly described in First, Second and Third Schedule
respectively of Deed of Mortgage/Further Charge dated 20/11/2012 Irrevocable joint
and several personal guarantees of directors. |
|
Date of
instrument modifying the charge |
20.03.2009 |
|
Particulars of
the present modification |
The address of Lead
Bank - Bank of India as charge holder is changed from its Churchgate Br to
its Mumbai Large Corporate Br.Total financial limit (FB and NFB) is revised
to RS.10365.000 Millions and the security as first charge by company's
current assets(stock, book debts etc ) on pari passu basis and further
security by equitable mortgage of land and buildings both are extended to enhanced limit as stated in
Deed of Mortgage/Further Charge dated 20/11/2012. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR :
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Guarantee issued by banks |
50.900 |
|
Letter of Credit |
1048.036 |
FIXED ASSETS:
- Land
- Building
- Plant and machinery
- Furniture and Office Equipments
- Vehicles
- Speed Boats
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.54.27 |
|
|
1 |
Rs.84.31 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
50 |
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.