MIRA INFORM REPORT
|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
KPMG INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
KPMG PEAT MARWICK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Marg,
Mahalaxmi, Mumbai – 400011, Maharashtra
|
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
11.03.1994 |
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|
|
|
Com. Reg. No.: |
11-077060 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.58.986 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH1994PTC077060 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2138A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Provider of Risk, Financial and Business Advisory, Internal Audit,
Corporate Governance, and Tax and Regulatory Services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 330000 |
|
|
|
|
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. Management of the company has filed its financial for the year 2013
but it is not available with us. The company has seen an increase in its sales turnover. However, there
appears drastic dip in the profit of the company during 2012. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 DENIED
Management Non Co-operative (91-22-39896000)
LOCATIONS
|
Registered Office : |
1st Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Marg,
Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000/ 30901568 |
|
Fax No.: |
91-22-39836000 |
|
E-Mail : |
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|
Website : |
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Branch Office : |
Located at:
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DIRECTORS
As on: 24.09.2012
|
Name : |
Mr. Dinesh Hashmukhrai Kanabar |
|
Designation : |
Director |
|
Address : |
14 A Sett Minar, Dr. Gopalrao Deshmukh Road, Opposite Jaslok Hospital,
Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1958 |
|
Date of Appointment : |
23.09.2013 |
|
Din No.: |
00003252 |
|
|
|
|
Name : |
Mr. Richard Rekhy |
|
Designation : |
Director |
|
Address : |
G-01, Sobha Diamond, 23, Aga Abbas Ali Road, Ulsoor, Bangalore-560042,
Karnataka, India |
|
Date of Birth/Age : |
17.08.1958 |
|
Date of Appointment : |
26.05.2006 |
|
Din No.: |
00302696 |
|
|
|
|
Name : |
Mr. Akhil Bansal |
|
Designation : |
Director |
|
Address : |
E 137, Saket, New Delhi-110017, India |
|
Date of Birth/Age : |
22.11.1968 |
|
Date of Appointment : |
20.11.2009 |
|
Din No.: |
02871283 |
KEY EXECUTIVES
|
Name : |
Mr. Sameet Gambhir |
|
Designation : |
Secretary |
|
Address : |
U 25/25, First Floor, Pink Town House, DLF Cyber City, Phase III, Gurgaon-122002,
Haryana, India |
|
Date of Birth/Age : |
25.04.1967 |
|
Date of Appointment : |
09.03.2007 |
|
Pan No.: |
ACGPG5389Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
KPMG International Investment B.V, Netherlands |
|
5839620 |
|
KPMG Advisory N.V., Netherlands |
|
59000 |
|
|
|
|
|
Total |
|
5898620 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider of Risk, Financial and Business Advisory, Internal Audit,
Corporate Governance, and Tax and Regulatory Services. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
ASNAJ and Company Chartered Accountants |
|
Address : |
A-5, Vimal Udyog Bhawan, Near Star City Theatre, Manorama Nagarkar Marg,
Matunga (West), Mumbai-400016, Maharashtra, India |
|
Pan No.: |
AAFFM7062H |
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|
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Holding Company : |
KPMG International Investments B. V. |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
CIN No.: U74140MH1999PTC122186 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5898620 |
Equity Shares |
Rs.10/- each |
Rs.58.956 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
58.986 |
58.986 |
|
(b) Reserves & Surplus |
|
24.869 |
13.491 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
83.855 |
72.477 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
19.667 |
43.738 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
31.041 |
30.857 |
|
Total Non-current
Liabilities (3) |
|
50.708 |
74.595 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
170.000 |
120.000 |
|
(b) Trade payables |
|
370.994 |
349.006 |
|
(c) Other current liabilities |
|
103.150 |
151.957 |
|
(d) Short-term provisions |
|
216.108 |
242.367 |
|
Total Current
Liabilities (4) |
|
860.252 |
863.330 |
|
|
|
|
|
|
TOTAL |
|
994.815 |
1010.402 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
21.699 |
31.716 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
82.782 |
100.994 |
|
(d) Long-term Loan and Advances |
|
10.000 |
2.020 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
114.481 |
134.730 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
222.443 |
240.439 |
|
(d) Cash and cash equivalents |
|
15.092 |
32.834 |
|
(e) Short-term loans and advances |
|
406.013 |
395.442 |
|
(f) Other current assets |
|
236.786 |
206.957 |
|
Total Current
Assets |
|
880.334 |
875.672 |
|
|
|
|
|
|
TOTAL |
|
994.815 |
1010.402 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
58.986 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
117.316 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
176.302 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
31.259 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
31.259 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
207.561 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
29.659 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
90.460 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
357.150 |
|
|
Cash & Bank Balances |
|
|
17.282 |
|
|
Other Current Assets |
|
|
258.952 |
|
|
Loans & Advances |
|
|
348.790 |
|
Total
Current Assets |
|
|
982.174 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
132.437 |
|
|
Other Current Liabilities |
|
|
238.118 |
|
|
Provisions |
|
|
524.177 |
|
Total
Current Liabilities |
|
|
894.732 |
|
|
Net Current Assets |
|
|
87.442 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
207.561 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Professional Income |
1468.117 |
1408.660 |
1620.536 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
43.907 |
(94.403) |
(236.689) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.616 |
19.956 |
15.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
29.291 |
(114.359) |
(251.855) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
17.913 |
(10.534) |
(49.644) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
11.378 |
(103.825) |
(202.211) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.491 |
117.316 |
319.527 |
|
|
|
BALANCE CARRIED
TO THE B/S |
24.869 |
13.491 |
117.316 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
450.745 |
451.025 |
581.456 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.93 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.99 |
(8.12) |
(15.54) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.21 |
(12.58) |
(24.98) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
(1.58) |
(1.43) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.26 |
2.26 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.01 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current maturities of long-term debt |
20.000 |
20.000 |
NA |
|
|
|
|
|
|
Total |
20.000 |
20.000 |
NA |
|
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
SHORT-TERM
BORROWINGS |
|
|
|
KPMG |
40.000 |
120.000 |
|
|
|
|
|
Total |
40.000 |
120.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10235660 |
15/07/2011 * |
210,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B17488511 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Vehicles
- Office Equipment
- Computer Equipment
- Computers
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 records 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 : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
|
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.