MIRA INFORM REPORT
|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CREATIVE INFOTECH SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
C-222, |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.10.1995 |
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|
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Com. Reg. No.: |
04-027752 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.230
Millions |
|
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|
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CIN No.: [Company Identification
No.] |
U72200GJ1995PTC027752 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Computer Peripherals and IT Service Provider. |
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|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
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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 moderate track record. There appears dip in profit and sales turnover of the company during
the financial year 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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 PARTED BY
|
Name : |
Mr. Manthan |
|
Designation : |
Accounts Department |
|
Date : |
16.11.2013 |
LOCATIONS
|
Registered Office : |
C-222, Belgium Chambers, Opposite Linear Bus Stand, Delhi Gate, Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2411554/ 2421964/ 2601045 |
|
Mobile No.: |
91-9374713975 (Mr. Rajesh Malani) |
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Fax No.: |
91-261-2601044 |
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E-Mail : |
praveen@creativeinfotech.co.in accounts@creativeinfotech.co.in |
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Website : |
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|
Area : |
5000 sq.ft. |
|
Location : |
Owned |
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|
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|
Factory: |
202 J B House, Near Ishwar Bhavan, Navrangpura, Ahmedabad-380014, Gujarat |
|
Location : |
Owned |
|
|
|
|
Branch Office 1 : |
Ankleshwar SF - 32, Ravi Kiran Complex, Opposite G.I.D.C. Bus Stand, Ankleshwar – 393002, India |
|
Tel. No.: |
91-2646-223686 / 221598 |
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Email: |
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Branch Office 2 : |
Vapi 104, Riddhi Siddhi Chambers, Nr. Indian Bank, New Telephone Exchange Road, G.I.D.C. Char Rasta, Vapi – 396195, Gujarat, India |
|
Tel. No.: |
91-260-2432316, 2410654 |
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Email: |
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Branch Office 3 : |
Vadodara 001, Yogikrupa Apartment, 19, Nutan Bharat Society, Alkapuri, Vadodara-390007, Gujarat, India |
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Tel. No.: |
91-265-3259858 |
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Branch Office 4 : |
Mumbai 1st Floor, "SMRUTI" Plot No. 22, Road No. 4 Jaiprakash Nagar, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-32259367 |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Praveen Ravindran Ponnarassery |
|
Designation : |
Director |
|
Address : |
A/703, Rutvan Co-Operative Housing Society Limited, Near Sahaj Super
Store, Adajan, Surat-395009, |
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Date of Birth/Age : |
21.12.1966 |
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Qualification : |
BE |
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Date of Appointment : |
12.10.1995 |
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DIN No.: |
00756103 |
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|
|
|
Name : |
Mr. Paresh Ramjibhai Mathukia |
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Designation : |
Director |
|
Address : |
A-302, Millennium Residency, Gujarat Gas, |
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Date of Birth/Age : |
15.05.1971 |
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Qualification : |
BE |
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Date of Appointment : |
01.04.2005 |
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DIN No.: |
00737299 |
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|
|
|
Name : |
Mrs. Geeta Praveen Ponnarassery |
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Designation : |
Director |
|
Address : |
A/703, Rutvan Co-Operative Housing Society Limited, Near Sahaj Super Store,
Adajan, Surat-395009, |
|
Date of Birth/Age : |
10.04.1970 |
|
Date of Appointment : |
01.04.2005 |
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DIN No.: |
01862415 |
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|
|
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Name : |
Mrs. Bintuben Paresh Mathukia |
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Designation : |
Director |
|
Address : |
A-302, Millennium Residency, Gujarat Gas, Palanpur Road, Surat-395009,
|
|
Date of Birth/Age : |
11.10.1974 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
01048791 |
KEY EXECUTIVES
|
Name : |
Mr. Manthan |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
P R Praveen |
|
36900 |
|
Paresh Mathuka |
|
33300 |
|
Geeta P R Praveen |
|
27210 |
|
Umang Tekriwal |
|
100 |
|
Bintuben Paresh Mathuka |
|
22700 |
|
P R Praveen RE: P R Praveen HUF |
|
1400 |
|
Paresh Mathukia RE: Paresh Mathuka - HUF |
|
1400 |
|
Total |
|
123010 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.92 |
|
Other top fifty shareholders |
0.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals and IT Service Provider. |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
RRA and Company Chartered Accountants |
|
Address : |
HG-1D, International Trade Centre, Majuragate, Ring Road, Surat -
395002, Gujarat, India |
|
PAN No.: |
AAFFR4860E |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
123,010 |
Equity Shares |
Rs.10/- each |
Rs.1.230 Millions |
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|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.230 |
1.230 |
1.230 |
|
(b) Reserves & Surplus |
25.065 |
22.873 |
17.415 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
26.295 |
24.103 |
18.645 |
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|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
0.000 |
0.211 |
0.436 |
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(b) Deferred tax liabilities (Net) |
0.506 |
0.432 |
0.383 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.506 |
0.643 |
0.819 |
|
|
|
|
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|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
28.115 |
15.113 |
27.704 |
|
(b) Trade
payables |
26.781 |
38.974 |
62.573 |
|
(c) Other
current liabilities |
3.247 |
6.002 |
2.280 |
|
(d) Short-term
provisions |
1.175 |
2.617 |
2.911 |
|
Total Current
Liabilities (4) |
59.318 |
62.706 |
95.468 |
|
|
|
|
|
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TOTAL |
86.119 |
87.452 |
114.932 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6.134 |
5.872 |
5.939 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.013 |
0.013 |
0.013 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.809 |
1.537 |
3.621 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6.956 |
7.422 |
9.573 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
13.809 |
10.266 |
15.304 |
|
(c) Trade
receivables |
55.597 |
62.594 |
82.843 |
|
(d) Cash
and cash equivalents |
3.203 |
1.810 |
2.134 |
|
(e)
Short-term loans and advances |
5.831 |
4.895 |
4.976 |
|
(f) Other
current assets |
0.723 |
0.465 |
0.102 |
|
Total
Current Assets |
79.163 |
80.030 |
105.359 |
|
|
|
|
|
|
TOTAL |
86.119 |
87.452 |
114.932 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
267.942 |
354.178 |
377.063 |
|
|
|
Other Income |
0.149 |
0.551 |
0.063 |
|
|
|
TOTAL |
268.091 (Due
to less Sales) |
354.729 |
377.126 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
|
346.263 |
334.125 |
|
|
|
Administrative Expenses |
|
|
29.883 |
|
|
|
TOTAL |
264.134 |
346.263 |
364.008 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial Expenses) |
(Including
Financial Expenses) |
13.118 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
3.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.957 |
8.466 |
9.543 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.592 |
0.523 |
0.406 |
|
|
|
|
|
|
|
|
|
Less |
EXTRA ORDINARY
ITEMS |
0.099 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.266 |
7.943 |
9.137 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.074 |
2.486 |
2.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.192 |
5.457 |
6.294 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.240 |
15.783 |
9.489 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
23.432 |
21.240 |
15.783 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.82 |
44.36 |
51.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.82
|
1.54
|
1.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.22
|
2.24
|
2.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.79
|
9.08 |
7.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.33 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.07
|
0.64 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.28 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT
(Rs. in Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current
maturities of long-term debt |
0.211
|
0.209 |
0.189 |
|
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 |
No |
|
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% |
Yes |
|
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 |
Yes |
|
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Easy Access Financial Services Limited |
0.000 |
9.460 |
|
Standard Chartered Bank Limited (Pur. Bill Discounting) |
16.907 |
0.964 |
|
AEBC Credit Card |
0.013 |
0.000 |
|
Total |
16.920 |
10.424 |
PERFORMANCE DURING
THE YEAR AND FUTURE OUTLOOK:
The company is primarily engaged in business of providing IT services and solutions and our directors are sorry to inform that the company has decrease in sales turnover compared to previous year. The company achieved turnover of Rs.267.942 Millions. The profitability of the company has decreased due to competition in the field. The Net profit after tax of the company is Rs. 2.192 Millions compared to last year profit of Rs.5.457 Millions. The financial results of the Company both on profitability and performance wise has not been encouraging comparatively. The directors are confident that the company will achieve better result in the current year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10270572 |
04/10/2012 * |
13,000,000.00 |
ICICI Bank Limited |
Shyam Chambers, Opp. Sub Jail, Ring Road, Surat, Gujarat - 395002, INDIA |
B59397620 |
|
2 |
10290840 |
25/09/2012 * |
13,000,000.00 |
ICICI Bank Limited |
Shyam Chambers, Opp. Sub Jail, Ring Road, Surat, Gujarat - 395002, INDIA |
B59396739 |
* Date of charge modification
FIXED ASSETS:
- Building
- Office Equipment
- Computer
- Furniture and Fixtures
- Vehicle
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.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.