MIRA
INFORM REPORT
|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOLDI GREEN TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
Plot No. 239, Shope No. 2, Suraj Darshan Apartment, Pajwa Falia, Greenlines, Katargam, Surat – 395004, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.02.2011 |
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Com. Reg. No.: |
04-064163 |
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Capital
Investment / Paid-up Capital : |
Rs. 11.339 Millions |
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CIN No.: [Company Identification
No.] |
U40100GJ2011PTC064163 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTG02279E |
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PAN No.: [Permanent Account No.] |
AAECG1248F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Solar Panel |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 340000 |
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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 a relatively new company having moderate track. The rating takes into consideration on account of the limited experience
of the promoters, short track record of operations in a competitive and
fragmented solar energy industry. However, trade relations is improving. Business is active. Payment
terms are reported to be 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
September 5, 2013 |
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Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk |
|
Date |
September 5, 2013 |
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 PARTED BY
|
Name : |
Mr. Deepak Jain |
|
Designation : |
Business Development |
|
Contact No.: |
91-261-3099999 |
|
Date : |
14.12.2014 |
LOCATIONS
|
Registered Office : |
Plot No. 239, Shope No. 2, Suraj Darshan Apartment, Pajwa Falia, Greenlines, Katargam, Surat – 395004, Gujarat, India |
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Tel. No.: |
91-261-4040666 |
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Fax No.: |
91-261-2537246 |
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E-Mail : |
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Website: |
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Factory : |
Block No. 11A, Plot No. J and K1, Bs. IOC Petrol Pump, Pipodara NH 8, Dist. – Surat –
394110, Gujarat, India |
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Tel. No.: |
91-261-3099999 |
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Fax No.: |
91-261-3099900 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. lshverbhai Arjanbhai Dholakiya |
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Designation : |
Director |
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Address : |
81B, Vallabhnagar Coop. H. Soc. Limited, Varachha, Road, Surat – 395006, Gujarat, India |
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Date of Appointment : |
23.02.2011 |
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DIN No. : |
01981790 |
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Other Directorship :
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Name : |
Mr. Bharatkumar Laxmanbhai Bhut |
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Designation : |
Director |
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Address : |
24, Ranchodji Park Society, Near, Kantareshwar Mahadev Road, Katargam, Surat – 395004, Gujaral, India |
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Date of Appointment : |
23.02.2011 |
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DIN No. : |
02069655 |
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Other Directorship :
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Name : |
Mr. Chetan Sureshchandra Shah |
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Designation : |
Director |
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Address : |
106, Sant Tukaram Society iii" Opposite Vivekanand Garden, Ghod Dod Road" Surat – 395007, Gujarat, India |
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Date of Appointment : |
12.08.2011 |
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DIN No. : |
02253886 |
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Other Directorship :
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Name : |
Mr. Prabhubhai Parbatbhai Dholakia |
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Designation : |
Director |
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Address : |
4, Gayatrinagar society, vibhag – 5" Katargam Road" Surat, 395004, Gujarat, India |
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Date of Appointment : |
23.02.2011 |
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DIN No. : |
03412446 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Deepak jain |
|
Designation : |
Business Development |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Parbhudas Parbatbhai Dholakia |
868684 |
|
Ishverbhai Arjanbhai Dholakiya |
67657 |
|
Bharatkumar Laxmnbhai Bhut |
13100 |
|
Chetan Sureshchandra
Shah |
17228 |
|
Numeric Commodeal Private Limited , India |
140800 |
|
Rinkal B. Bhut |
8380 |
|
Paulomi Shah |
9963 |
|
Hansaben Ravjibhai Sutaria |
7976 |
|
Niravbhai Dineshbhal Narola |
100 |
|
Total |
1133888 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
12.42 |
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Directors or relatives of Directors |
85.00 |
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Other top fifty shareholders |
2.58 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Solar Panel |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Solar Panel |
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Countries : |
Europe |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Europe ·
Tawan ·
China ·
Malaysia ·
USA |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Gasv and Company Chartered Accountants |
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Address : |
110, The Financial Super Market, 1st Floor, 21st
Century Business Center, Ring road, Surat – 395002,
Gujarat, India |
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PAN No.: |
AAFFG4749P |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1133888 |
Equity Shares |
Rs.10/- each |
Rs. 11.339
Millions |
|
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|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
11.339 |
11.339 |
|
(b) Reserves &
Surplus |
|
110.529 |
101.851 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
5.742 |
|
Total Shareholders’ Funds
(1) + (2) |
|
121.868 |
118.932 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
78.479 |
37.890 |
|
(b) Deferred tax liabilities
(Net) |
|
5.505 |
2.118 |
|
(c) Other long term
liabilities |
|
0.089 |
76.256 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
84.073 |
116.264 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
72.132 |
68.953 |
|
(b) Trade payables |
|
38.567 |
6.492 |
|
(c) Other current
liabilities |
|
5.769 |
2.567 |
|
(d) Short-term provisions |
|
1.891 |
0.316 |
|
Total Current Liabilities
(4) |
|
118.359 |
78.328 |
|
|
|
|
|
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TOTAL |
|
324.300 |
313.524 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
140.003 |
145.062 |
|
(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) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
13.049 |
8.908 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
153.052 |
153.970 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
100.729 |
78.859 |
|
(c) Trade receivables |
|
34.756 |
22.126 |
|
(d) Cash and cash
equivalents |
|
26.391 |
57.567 |
|
(e) Short-term loans and
advances |
|
9.372 |
1.002 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
171.248 |
159.554 |
|
|
|
|
|
|
TOTAL |
|
324.300 |
313.524 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
465.004 |
|
|
Other Income |
|
|
3.287 |
|
|
TOTAL |
|
|
468.291 |
|
|
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
TOTAL |
|
|
419.252 |
|
|
|
|
|
|
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
49.039 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
16.667 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
32.372 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
21.302 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
11.070 |
|
|
|
|
|
|
|
|
TAX |
|
|
3.519 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
7.472 |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
|
|
1.813 |
|
|
|
|
|
|
|
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Balance Carried to the
B/S |
|
|
10.491 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
6.59 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
1.61 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
|
|
29.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.45 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
11.339 |
11.339 |
|
Reserves & Surplus |
101.851 |
110.529 |
|
Net worth |
113.190 |
121.868 |
|
|
|
|
|
long-term borrowings |
37.890 |
78.479 |
|
Short term borrowings |
68.953 |
72.132 |
|
Total borrowings |
106.843 |
150.611 |
|
Debt/Equity ratio |
0.944 |
1.236 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one years |
Yes |
|
12] |
Profitability for last
one 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
Note:
The Registered office of the company has been shifted 278, Pajwa Falia, Greenlines,
Katargam, Surat – 395004,
Gujarat, India to the present address w.e.f.
09.10.2013
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs. in Millions) |
31.03.2013 (Rs. in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other Loans and Liabilities (Loans from Director) |
15.506 |
14.347 |
|
Total |
15.506 |
14.347 |
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10341060 |
20/01/2014 * |
110,000,000.00 |
PUNJAB NATIONAL BANK |
MAIN BRANCH, MEGHNANI TOWER, STATION ROAD, SURAT, Gujarat – 395003, INDIA |
B96084983 |
|
2 |
10341052 |
13/08/2014 * |
193,200,000.00 |
PUNJAB NATIONAL BANK |
MAIN BRANCH, MEGHNANI TOWER, STATION ROAD, SURAT, Gujarat – 395003, INDIA |
C18751628 |
|
3 |
10342735 |
19/08/2014 * |
193,200,000.00 |
PUNJAB NATIONAL BANK |
MAIN BRANCH, MEGHNANI TOWER, STATION ROAD, SURAT, Gujarat – 395003, INDIA |
C18740282 |
* Date of charge modification
FIXED ASSETS
·
Factory Land
·
Factory Building
·
Office Building
·
Plant and machinery
·
Furniture and equipment
·
Electrical Installation
·
Computer System
·
Motor Car and 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 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. 61.85 |
|
|
1 |
Rs. 96.72 |
|
Euro |
1 |
Rs. 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
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 |
|
33 |
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.