MIRA INFORM REPORT
|
Report Date : |
21.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
M3M INDIA LIMITED (w.e.f. 03.07.2012) |
|
|
|
|
Formerly Known
As : |
M3M INDIA DEVELOPERS LIMITED (w.e.f. 18.10.2011) TREMENDOUS COMPED PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Paras Twin Towers, Tower B, 6th Floor, Golf Course Road,
Sector-54, Gurgaon-122002, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.03.2007 |
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|
|
|
Com. Reg. No.: |
05-044491 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U80903HR2007PLC044491 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Real Estate |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The latest financials are not available. As per the previous year’s financials, the company has incurred huge
pre-operative expenses. Mr. Mohit from Marketing department has confirmed that the business is
active but he denied to disclose any other detail. Payment terms are unknown. The company can be considered for business
dealings with great 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 |
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 : |
Paras Twin Towers, Tower B, 6th Floor, Golf Course Road,
Sector-54, Gurgaon-122002, Haryana, India |
|
Tel. No.: |
91-124-4732000 |
|
Fax No.: |
91-124-4732010 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Pankaj Bansal |
|
Designation : |
Director |
|
Address : |
C-13, Sushant Lok, Phase-1, Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
21.11.1987 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
02693855 |
|
|
|
|
Name : |
Mr. Vivek Ranjan |
|
Designation : |
Director |
|
Address : |
B-3, Cloud Nine Cottages, Village Dhumaspur, Gurgaon- 122101, Haryana, India |
|
Date of Birth/Age : |
13.04.1965 |
|
Date of Appointment : |
15.06.2012 |
|
DIN No.: |
02227174 |
|
|
|
|
Name : |
Mr. Vijay Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
P-32, Block-P, Budh Vihar, Phase-1, Delhi-110086, India |
|
Date of Birth/Age : |
04.03.1965 |
|
Date of Appointment : |
15.06.2012 |
|
DIN No.: |
05170472 |
KEY EXECUTIVES
|
Name : |
Anjali Bansal |
|
Designation : |
Secretary |
|
Address : |
B-65, South City-I, Gurgaon, India |
|
Date of Birth/Age : |
29.09.1983 |
|
Date of Appointment : |
02.03.2012 |
|
PAN No.: |
AMNPA0119K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
M3m India Holdings Private Limited (Formerly Known As Popular Infracon Private Limited) |
|
41562916 |
|
Basant Bansal |
|
1111680 |
|
Roop Kumar |
|
993564 |
|
Abha Bansal |
|
916943 |
|
Pankaj Bansal |
|
3281 |
|
Lal Chand Bansal |
|
15440 |
|
Shakuntala Rani |
|
6176 |
|
Total |
|
44610000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
93.17 |
|
Directors or relatives of Directors |
6.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
ICICI Bank Limited, Landmarkrace Course Road, Alkapuri, Baroda - 390015, Gujarat, India |
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
GSA and Associates Chartered Accountants |
|
Address : |
16 DDA Flats, Ground Floor, Panchsheel-Shivalik Mor Near Malviya
Nagar, New Delhi-110017, India |
|
Tel. No.: |
91-11-32099205 / 7 |
|
E-Mail : |
|
|
PAN No.: |
AACFS2548F |
|
|
|
|
Holding Company : |
Popular Infracon Private Limited CIN No.: U45200DL2010PTC199381 |
|
|
|
|
Subsidiary Company: |
· Model Buildtech Private Limited CIN No.: U70101DL2010PTC206816 · Generous Realtors Private Limited CIN No.: U70109DL2006PTC153100 · Metro Infocity Private Limited CIN No.: U70102DL2009PTC197502 · Gama Buildwell Private Limited CIN No.: U45200DL2008PTC175631 · Lavish Buildmart Private Limited CIN No.: U45300DL2007PTC162813 · Zenith Realtech Private Limited CIN No.: U70100DL2007PTC162821 · Benchmark Infotech Private Limited CIN No.: U72300DL2006PTC153220 |
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|
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Fellow Subsidiary
Company: |
Cogent Realtors Private Limited |
|
|
|
|
Associated Company: |
Nova Realtors Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44620000 |
Equity Shares |
Rs.10/- each |
Rs. 446.200 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44610000 |
Equity Shares |
Rs.10/- each |
Rs. 446.100 Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1.780) |
(0.692) |
(0.045) |
|
|
NETWORTH |
(1.680) |
(0.592) |
0.055 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
8.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
8.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.100 |
7.408 |
0.055 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.100 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.015 |
0.015 |
0.015 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.710
|
0.843 |
0.924 |
|
|
Other Current Assets |
368.830
|
451.183 |
0.622 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
369.540
|
452.026 |
1.546 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
371.335
|
444.633 |
1.511 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
371.335
|
444.633 |
1.511 |
|
|
Net Current Assets |
(1.795)
|
7.393 |
0.035 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
(1.680) |
7.408 |
0.055 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.010 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.010 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative and Other Expenses |
1.088 |
0.641 |
0.021 |
|
|
|
Preliminary Expenses written off |
0.000 |
0.005 |
0.002 |
|
|
|
TOTAL |
1.088 |
0.646 |
0.023 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(1.088) |
(0.646) |
(0.013) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1.088) |
(0.646) |
(0.013) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.692) |
(0.046) |
(0.033) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1.780) |
(0.692) |
(0.046) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(108.84) |
(64.62) |
(1.30) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.29)
|
(0.14) |
(0.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.65
|
1.09 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
(13.51) |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.02 |
1.02 |
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 |
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 |
NOTE
The registered office of the company has been shifted from Office No.
1221-A, Devika Tower 12th Floor, 6 Nehru Place, New Delhi-110019,
India to the present address w.e.f. 03.12.2011
OPERATION
During the year, the Company has incurred a net loss of Rs. 1.088 millions. The Directors are making efforts to improve its profitability and hopeful to achieve better results, in the year to come.
During the year Popular Infracon Private Limited has purchased entire shareholding i.e. 10,000 Equity Shares of Rs. 10/- each of the company thus making the company a wholly owned subsidiary of Popular Infracon Private Limited.
During the year the company has purchased entire shareholding i.e. 10,000 Equity Shares of Rs. 10/- each of Model Buildtech Private Limited, thus making the latter its wholly owned subsidiary of the company.
UNSECURED LOAN
|
Particulars |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
In Millions) |
|
Inter Corporate Deposits |
0.000 |
8.000 |
|
Total |
0.000 |
8.000
|
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U80903HR2007PLC044491 |
|
Name of the
company |
M3M INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
Paras Twin Towers, Tower B, 6th Floor, Golf Course Road,
Sector-54, Gurgaon-122002, Haryana, India E-mail: corp.matters@gmail.com |
|
This form is for |
Creation
of charge |
|
Type of charge |
Others
(CashFlows, Rcvbles, Escrow DSR Account, Insurance) |
|
Particular of
charge holder |
ICICI Bank Limited, Landmarkrace Course Road, Alkapuri, Baroda - 390015, Gujarat, India E-mail: ruchir.jauhari@icicibank.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 06th July' 2012 executed by M3M India Limited in favour
of ICICI Bank Limited. |
|
Date of
instrument Creating the charge |
06.07.2012 |
|
Amount secured by
the charge |
Rs. 1000.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Facility
Agreement executed between M3M India Limited and ICICI Bank Limited on 02nd
July' 2012 Terms of Repayment As per Facility
Agreement executed between M3M India Limited and ICICI Bank Limited on 02nd
July' 2012. Margin As per Facility
Agreement executed between M3M India Limited and ICICI Bank Limited on 02nd
July' 2012. Extent and Operation of the charge 1. Scheduled
Receivables of the Project M3M Golf Estate Fairway West (Tower 1, 16-20)
having approx. saleable area 748,130 sq. ft. being developed on Land
admeasuring 9.963 acres situated at Vill. Maidawas, Gurgaon as described in
Annexure A of Deed of Hypothecation dated 06th July' 2012 2. Escrow and
Debt Service Reserve Account, and all monies credited/ deposited therein. 3. All Insurance
Proceeds relating to the Project M3M Golf Estate Fairway West (Tower 1,
16-20). |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Scheduled
Receivables of the Project M3M Golf Estate Fairway West (Tower 1, 16-20)
having approx saleable area 748,130 sq. ft. located at Village Maidawas,
Gurgaon. Escrow and DSRA,
and all monies credited/ deposited therein as per Escrow Agreement. All Insurance
proceeds relating to Project M3M Golf Estate Fairway West (Tower 1, 16-20)
having approx saleable area 748,130 sq. ft. located at Village Maidawas,
Gurgaon. |
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.55.04 |
|
|
1 |
Rs.83.60 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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.