MIRA INFORM REPORT
|
Report Date : |
26.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRANSASIA COMPOSITE INSURANCE BROKING LIMITED |
|
|
|
|
Formerly Known
As : |
RELIANCE COMPOSITE INSURANCE BROKING LIMITED (w.e.f. 26.10.2010) STANDARD COMPOSITE INSURANCE BROKERS LIMITED (w.e.f. 24.03.2009) STANDARD COMPOSITE INSURANCE BROKERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, B-Wing, Trade World, Kamala Mills Compound, S.
B. Marg, Lower Parel, Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.10.1994 |
|
|
|
|
Com. Reg. No.: |
11-082324 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1994PLC082324 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39565B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS1889A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is into Composite Insurance Broking Related Activities. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Reliance Securities Limited. It is an established company having satisfactory track. The company has been successful in wipping off its accumulated losses
of the previous years. General financial position of company is sound. The company also receives strong operational and financial support
from its holding company. Trade relations are fair. Business is active. Payments are reported to
be usually correct and as per commitment. The company can be considered 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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.: 91-22-30479200/ 250)
LOCATIONS
|
Registered Office : |
7th Floor, B-Wing, Trade World, Kamala Mills Compound, S.
B. Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-30479801 |
|
Fax No.: |
91-22-30479650 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
11th Floor, R-Tech Park, Nirlon Compound, Western Express Highway, Mumbai - 400063. Maharashtra, India |
|
Tel. No.: |
91-22-33201212 / 39896789 |
|
Fax No.: |
91-22-33201555 |
|
E-Mail : |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Ashish Dhirajlal Turakhia |
|
Designation : |
Director |
|
Address : |
303, Devaki Apartment, Near Sanyas Ashram Vithalbhai Road, Vile Parle
(West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1963 |
|
Date of Appointment : |
06.03.2012 |
|
DIN No.: |
02601110 |
|
|
|
|
Name : |
Mr. Lav Ramji Chaturvedi |
|
Designation : |
Director |
|
Address : |
403-04, Golden Rays, X Wing, Shastri Nagar, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1976 |
|
Date of Appointment : |
18.08.2010 |
|
DIN No.: |
02859336 |
|
|
|
|
Name : |
Mr. Sanjay Tulsio Wadhwa |
|
Designation : |
Director |
|
Address : |
H-802, 8th Floor, Rpyal Fern Great Eastern Garden LBS Marg,
Kanjurmarg, Mumbai – 400078, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1973 |
|
Date of Appointment : |
18.08.2010 |
|
DIN No.: |
03329219 |
KEY EXECUTIVES
|
Name : |
Mr. Sumit Dutt |
|
Designation : |
Principal Officer |
|
|
|
|
Name : |
Mr. Rrabhat Bhardwaj |
|
Designation : |
Area Head |
MAJOR SHAREHOLDERS
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Securities Limited, India |
|
2499940 |
|
Reliance Securities Limited, India Jointly with Amit Bapna |
|
10 |
|
Reliance Securities Limited, India Jointly with V R Mohan |
|
10 |
|
Reliance Securities Limited, India Jointly with Yogesh Deshpande |
|
10 |
|
Reliance Securities Limited, India Jointly with Madan Chaturvedi |
|
10 |
|
Reliance Securities Limited, India Jointly with Parul Jain |
|
10 |
|
Reliance Securities Limited, India Jointly with Atul Tandon |
|
10 |
|
Total |
|
2500000 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is into Composite Insurance Broking Related Activities. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
-- |
||||
|
|
|
||||
|
Agencies Held : |
-- |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
Information denied by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pathak H.D. and Associates Chartered Accountants |
|
Address : |
814-815, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-30228508/ 8509 |
|
Fax No.: |
91-22-30228509 |
|
E-Mail : |
|
|
PAN No.: |
AAAFP1031C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
CIN No.: U65990MH2005PLC154052 |
|
|
|
|
Ultimate Holding
Company : |
CIN No.: L65910MH1986PLC165645 |
|
|
|
|
Fellow Subsidiary
Company |
CIN No.: U74999MH2002PLC138032
CIN No.: U65990MH2005PLC155675
CIN No.: U72900MH2000PTC128384
CIN No.: U66603MH2000PLC128300
CIN No.: U66010MH2001PLC167089 |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 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 |
25.000 |
25.000 |
25.000 |
|
(b) Reserves & Surplus |
41.731 |
(11.776) |
81.539 |
|
(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) |
66.731 |
13.224 |
106.539 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.067 |
0.162 |
0.533 |
|
Total Non-current
Liabilities (3) |
0.067 |
0.162 |
0.533 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
64.000 |
0.000 |
|
(b) Trade
payables |
73.468 |
50.013 |
26.445 |
|
(c) Other
current liabilities |
31.937 |
10.532 |
15.976 |
|
(d) Short-term
provisions |
0.009 |
0.919 |
4.486 |
|
Total Current
Liabilities (4) |
105.414 |
125.464 |
46.907 |
|
|
|
|
|
|
TOTAL |
172.212 |
138.850 |
153.979 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9.508 |
12.220 |
4.510 |
|
(ii)
Intangible Assets |
0.897 |
0.654 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.016 |
35.071 |
31.158 |
|
(e) Other
Non-current assets |
5.000 |
5.000 |
5.000 |
|
Total Non-Current
Assets |
36.421 |
52.945 |
40.668 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.471 |
26.991 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
83.190 |
67.443 |
22.362 |
|
(d) Cash
and cash equivalents |
37.176 |
13.629 |
55.967 |
|
(e)
Short-term loans and advances |
15.309 |
4.258 |
5.887 |
|
(f) Other
current assets |
0.116 |
0.104 |
2.104 |
|
Total
Current Assets |
135.791 |
85.905 |
113.311 |
|
|
|
|
|
|
TOTAL |
172.212 |
138.850 |
153.979 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
204.017 |
123.680 |
123.659 |
|
|
|
Other Income |
2.419 |
2.121 |
26.707 |
|
|
|
TOTAL (A) |
206.436 |
125.801 |
150.366 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefits Expenses |
88.980 |
87.456 |
61.275 |
|
|
|
Other Expenses |
52.893 |
118.519 |
109.419 |
|
|
|
TOTAL (B) |
141.873 |
205.975 |
170.694 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.563 |
(80.174) |
(20.328) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.222 |
2.580 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
60.341 |
(82.754) |
(20.328) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
4.829 |
6.230 |
2.326 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
55.512 |
(88.984) |
(22.654) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.005 |
4.331 |
(0.019) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
53.507 |
(93.315) |
(22.635) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(11.776) |
81.539 |
104.174 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
41.731 |
(11.776) |
81.539 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
21.40 |
(37.33) |
(9.05) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
26.23 |
(75.45) |
(18.30) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
31.65 |
(64.82) |
(16.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
32.23 |
(64.09) |
(14.71) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.83 |
(6.73) |
(0.21) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
4.84 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
0.68 |
2.42 |
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 |
25.000 |
25.000 |
25.000 |
|
Reserves & Surplus |
81.539 |
(11.776) |
41.731 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
106.539 |
13.224 |
66.731 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
64.000 |
0.000 |
|
Total
borrowings |
0.000 |
64.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
4.840 |
0.000 |
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 |
123.659 |
123.680 |
204.017 |
|
|
|
0.017 |
64.956 |
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
|
123.659 |
123.680 |
204.017 |
|
Profit |
(22.635) |
(93.315) |
53.507 |
|
|
(18.30%) |
(75.45%) |
26.23% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from others |
0.000 |
64.000 |
|
Total |
0.000 |
64.000 |
NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.46 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.77.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
|
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.