MIRA INFORM REPORT
|
Report Date : |
03.12.2014 |
\
IDENTIFICATION DETAILS
|
Name : |
VIDEOJET TECHNOLOGIES (I) PRIVATE LIMITED (w.e.f.12.10.2007) |
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Formerly Known
As : |
WILLETT INDIA PRIVATE LIMITED (w.e.f.30.07.1996) WILLETT CODING AND LABELLING PRIVATE LIMITED |
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Registered
Office : |
101/102, Rupa Infotech and Infrastructure Private Limited, Rupa
Solitaire, Building No. A-1, Sector 1, MBP, Mahape, Navi Mumbai – 400710,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.04.1995 |
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Com. Reg. No.: |
11-087146 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.027 Millions |
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CIN No.: [Company Identification
No.] |
U99999MH1995PTC087146 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW01028G |
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PAN No.: [Permanent Account No.] |
AAACW0731B |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturing, Distributing and Marketing of ink-jet printers, laser
printers, labelling and coding machinery and consumables. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (53) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2100000 |
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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. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitment. The company can be considered good 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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-22-30933155)
LOCATIONS
|
Registered Office : |
101/102, Rupa Infotech and Infrastructure Private Limited, Rupa
Solitaire, Building No. A-1, Sector 1, MBP, Mahape, Navi Mumbai – 400710,
Maharashtra, India |
|
Tel. No.: |
91-22-30933155 |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As On 30.09.2014
|
Name : |
Mrs. Ranjana Natwarlal Bhagwakar |
|
Designation : |
Director |
|
Address : |
851, Clover Ridge LN, Itasca II 60143, Itasca, 000000, United State of
America |
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Date of Birth/Age : |
26.08.1971 |
|
Date of Appointment : |
15.12.2010 |
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DIN No.: |
03320334 |
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Name : |
Mr. Partha Sarathi Das |
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Designation : |
Director |
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Address : |
Flat No. 1301, 13th Floor, Tower – 1, Sagar Darshan CHS., Plot
No. 38, Nerul, Navi Mumbai – 400706, Maharashtra, India |
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Date of Birth/Age : |
11.10.1964 |
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Date of Appointment : |
21.08.2012 |
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DIN No.: |
06363935 |
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|
|
Name : |
Mr. Manoj Gaur Goswami |
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Designation : |
Director |
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Address : |
301, Grandeur Vasant Marvel, W E Highway, Borivali (East), Mumbai –
400066, Maharashtra, India |
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Date of Birth/Age : |
23.10.1974 |
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Date of Appointment : |
01.08.2014 |
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DIN No.: |
06937155 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Willett BV Holdings, Netherlands |
2 |
0.01 |
|
Kollmorgen India Investment Company Limited, Mauritius |
20266 |
99.99 |
|
Total |
20268 |
100.00 |
%20PRIVATE%20LIMITED%20-%20296729%2003-Dec-2014_files/image013.gif)
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Distributing and Marketing of ink-jet printers, laser printers,
labelling and coding machinery and consumables. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Not Divulged |
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Facilities : |
-- |
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Auditors : |
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Name : |
S.R. Batliboi and Company LLP Chartered Accountant |
|
Address : |
B-2, 5th Floor, Nirlon Knowledge Park, Off. W.E. Highway, Goregaon
– East, Mumbai – 400063, Maharashtra, India |
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PAN No.: |
ACHFS9180N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
(CIN No.: U31103MH1994PTC137603)
|
CAPITAL STRUCTURE
As On 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300,000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20,268 |
Equity Shares |
Rs. 100/-
each |
Rs. 2.027
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.027 |
2.027 |
2.027 |
|
(b) Reserves & Surplus |
738.325 |
669.626 |
580.309 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
4.876 |
4.876 |
4.876 |
|
Total Shareholders’
Funds (1) + (2) |
745.228 |
676.529 |
587.212 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.148 |
0.389 |
0.353 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.148 |
0.389 |
0.353 |
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
300.471 |
253.872 |
150.017 |
|
(c) Other
current liabilities |
48.364 |
38.559 |
25.858 |
|
(d) Short-term
provisions |
9.401 |
5.404 |
5.018 |
|
Total Current
Liabilities (4) |
358.236 |
297.835 |
180.893 |
|
|
|
|
|
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TOTAL |
1103.612 |
974.753 |
768.458 |
|
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II.
ASSETS |
|
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|
|
(1)
Non-current assets |
|
|
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|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
21.413 |
16.765 |
8.533 |
|
(ii)
Intangible Assets |
0.411 |
2.877 |
5.344 |
|
(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 |
261.954 |
261.954 |
261.954 |
|
(c) Deferred tax assets (net) |
21.828 |
17.491 |
20.676 |
|
(d) Long-term Loan and Advances |
174.416 |
122.052 |
76.126 |
|
(e) Other
Non-current assets |
2.489 |
2.196 |
1.777 |
|
Total Non-Current
Assets |
482.511 |
423.335 |
374.410 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
276.474 |
187.773 |
126.432 |
|
(c) Trade
receivables |
204.579 |
181.427 |
159.228 |
|
(d) Cash
and cash equivalents |
80.568 |
139.888 |
74.711 |
|
(e)
Short-term loans and advances |
57.530 |
41.588 |
33.484 |
|
(f) Other
current assets |
1.950 |
0.742 |
0.193 |
|
Total
Current Assets |
621.101 |
551.418 |
394.048 |
|
|
|
|
|
|
TOTAL |
1103.612 |
974.753 |
768.458 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1601.320 |
1328.360 |
1101.210 |
|
|
|
TOTAL |
1601.320 |
1328.360 |
1101.210 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1498.160 |
1195.360 |
925.060 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
103.160 |
133.000 |
176.150 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
34.460 |
43.690 |
57.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
68.700 |
89.310 |
118.750 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3389.58 |
4406.45 |
5858.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
4.29
|
6.72 |
10.78 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.44
|
10.12 |
15.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.58 |
19.13 |
36.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.20 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.85 |
2.18 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.027 |
2.027 |
2.027 |
|
Reserves & Surplus |
580.309 |
669.626 |
738.325 |
|
Share Application Money
Pending Allotment |
4.876 |
4.876 |
4.876 |
|
Net
worth |
587.212 |
676.529 |
745.228 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20296729%2003-Dec-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1101.210 |
1328.360 |
1601.320 |
|
|
|
20.627 |
20.549 |
%20PRIVATE%20LIMITED%20-%20296729%2003-Dec-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1101.210 |
1328.360 |
1601.320 |
|
Profit |
118.750 |
89.310 |
68.700 |
|
|
10.78% |
6.72% |
4.29% |
%20PRIVATE%20LIMITED%20-%20296729%2003-Dec-2014_files/image019.gif)
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 |
No |
|
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 |
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 |
Note: Registered office of the company has been
shifted from 101 and 102, Building No.5, Sector-2, Millenium Business Park,
Ghansoli (P.O.), Mahape, Navi Mumbai – 400701, Maharashtra, India to the
present address w.e.f. 05.03.2014
FINANCIAL RESULTS
Your company continued to accelerate on growth trend, recording a
healthy growth of 21% (same as for previous year). The Gross margin stood at
39.2% against 41% previous year, primarily due to depreciation in Rupee against
USD by ~11%. The effect of Gross margin also replicated in Net Profit before
Tax which stood at 6.4% against 10% previous year. Your company has initiated
measures like increasing the product price, efficient cost management program
and various market strategies to improve market share, which is expected to
deliver results in the coming financial year.
BUSINESS OPERATIONS
Rupee devaluation
by 11% led to increase in input cost of material having a negative impact on
the Gross margin by 28%. Continues pressure from competition restricts the
opportunity of price revision at better levels. Nevertheless with the highly
motivated team, we are sure of overcoming the current phase and show a good
come back in terms of profitability and gaining market share in Product
Identification sector.
We remain committed
to our long-term strategy and will continue to invest in our existing
operations to ensure long-term competitiveness and sustained growth.
INDEX OF CHARGES
No Charges Exist For The Company.
FIXED ASSETS
- Plant and
Equipments
- Factory Equipments
- Furniture and
Fixture
- Office
Equipments
- Computer
Equipments
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. 61.93 |
|
|
1 |
Rs. 97.39 |
|
Euro |
1 |
Rs. 77.21 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.