|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SJP INFRACON LIMITED |
|
|
|
|
Registered
Office : |
111, Shri Jamuna Dham, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.07.2010 |
|
|
|
|
Com. Reg. No.: |
01-041520 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 204.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102UP2010PLC041520 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOCS6480K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of promotion, construction,
development of integrated townships, residential and commercial complexes. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 950000 |
|
|
|
|
Status : |
Project under Implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Eventhough the company was incorporated as on July 29, 2010, it has
not yet reported its revenue from operations as the project is under
implementation. As per the directors report 2013, the company has been allotted 50
acres of land by the Greater Noida Industrial Development Authority for
development of group housing which has been planned to be constructed in two
phases. Management has started the development and construction work for the
phase I which will be seen as potential revenue generator. The capital base of the company appears to be decent. Trade relations are improving. Business is active. Payment terms are
unknown. The subject 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that accounts
for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is
the main reason for this overall IT cut. A Reserve Bank of India committee has
recommended setting up a special category of lenders who would cater to small
businesses and households, to expand the number of customers with access to
banking services. These banks would focus onproviding payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
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.
LOCATIONS
|
Registered Office : |
111, Shri Jamuna Dham, Goverdhan Road, Mathura – 281004, Uttar
Pradesh, India |
|
Tel. No.: |
91-565-2425038 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
A-133, Sector - 63, Noida, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4258543 |
|
Fax No.: |
91-120-4254544 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Pradeep Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
H. No. 82, Jamuna Dham, Mathura-28100, Uttar Pradesh, India |
|
Date of Birth/Age : |
29.10.1961 |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
00430335 |
|
|
|
|
Name : |
Mr. Sudeep Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
H. No. 82, Jamuna Dham, Mathura-28100, Uttar Pradesh,
India |
|
Date of Birth/Age : |
04.12.1965 |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
00430356 |
|
|
|
|
Name : |
Mr. Suresh Chand Kaushik |
|
Designation : |
Director |
|
Address : |
12-B, Geeta Enclave, Krishna Nagar, Mathura – 281004, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.04.1957 |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
00989436 |
|
|
|
|
Name : |
Mr. Ram Agrawal |
|
Designation : |
Director |
|
Address : |
13, Jaishri Colony, Shahganj Darwaza, Mathura, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.10.1972 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
01913459 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity
Shares) |
|
No. of Shares |
|
SJP Global Limited, India |
|
937500 |
|
SJP Real Estate Developers Limited, India |
|
2500 |
|
SJP Residency Consortium Limited, India |
|
2500 |
|
Pradeep Kumar Agrawal Partner-SJP India Associates, India |
|
2000 |
|
Pradeep Kumar Agrawal on behalf of SJP Global Limited, India |
|
2500 |
|
Sudeep Kumar Agrawal on behalf of SJP Global Limited, India |
|
2500 |
|
Shekhar Agrawal S/o Pradeep Kumar Agrawal |
|
500 |
|
Total |
|
950000 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
SJP Real Estate Developers Limited, Indai |
|
1950000 |
|
Total |
|
1950000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.21 |
|
Directors or relatives of Directors |
0.79 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of promotion,
construction, development of integrated townships, residential and commercial
complexes. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce, B-31, Sector-62, Noida -
201301, Uttar Pradesh, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
P L Tandon and Company Chartered Accountants |
|
Address : |
37/17, 1st Floor, West Cott Building, The Mall Kanpur, Uttar Pradesh, India |
|
PAN No.: |
ACKPB8101H |
|
|
|
|
Holding Company : |
SJP Global Limited |
|
|
|
|
Associate : |
· SRP Buildwell Private Limited · SJP Real Estate Developers Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their relatives |
· Shrinath Prasad Maida Wale Petrol Pump ·
Shrihighway Service Station |
|
|
|
|
Subsidiary : |
Decent Buildwell Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
2000000 |
Preference Shares |
Rs.100/- each |
Rs.200.000 Millions |
|
|
Total |
|
Rs.210.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500 Millions |
|
1950000 |
Preference Shares |
Rs.100/- each |
Rs.195.000 Millions |
|
|
Total |
|
Rs.204.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
204.500 |
204.500 |
9.500 |
|
(b) Reserves & Surplus |
35.190 |
73.193 |
80.076 |
|
(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) |
239.690 |
277.693 |
89.576 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.151 |
4.118 |
278.044 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
1484.602 |
2060.141 |
2060.141 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
1486.753 |
2064.259 |
2338.185 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
48.699 |
0.000 |
0.000 |
|
(b) Trade payables |
75.912 |
0.787 |
11.648 |
|
(c) Other current
liabilities |
1116.039 |
482.053 |
343.409 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
1240.650 |
482.840 |
355.057 |
|
|
|
|
|
|
TOTAL |
2967.093 |
2824.792 |
2782.818 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
27.658 |
29.469 |
18.383 |
|
(ii) Intangible Assets |
2.494 |
2.242 |
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 |
0.190 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
18.470 |
2.187 |
0.345 |
|
(d) Long-term Loan and Advances |
0.583 |
0.443 |
0.884 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
49.395 |
34.341 |
19.612 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2447.669 |
2757.310 |
2679.791 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
127.747 |
21.102 |
65.678 |
|
(e) Short-term loans and
advances |
340.917 |
11.745 |
17.293 |
|
(f) Other current assets |
1.365 |
0.294 |
0.444 |
|
Total Current Assets |
2917.698 |
2790.451 |
2763.206 |
|
|
|
|
|
|
TOTAL |
2967.093 |
2824.792 |
2782.818 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.143 |
0.000 |
0.000 |
|
|
|
Other Income |
5.253 |
0.881 |
0.493 |
|
|
|
TOTAL (A) |
5.396 |
0.881 |
0.493 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
11.744 |
0.000 |
0.000 |
|
|
|
Other Expenses |
38.068 |
1.713 |
0.468 |
|
|
|
TOTAL (B) |
49.812 |
1.713 |
0.468 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(44.416) |
(0.832) |
0.025 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.702 |
0.000 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(48.118) |
(0.832) |
0.022 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.167 |
7.893 |
1.291 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(54.285) |
(8.725) |
(1.269) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(16.283) |
(1.842) |
(0.345) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(38.002) |
(6.883) |
(0.924) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(13.10) |
(2.37) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(704.63)
|
(781.27) |
(187.42) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(37961.54)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.84)
|
(0.31) |
(0.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23)
|
(0.03) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21
|
0.01 |
3.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35
|
5.78 |
7.78 |
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 |
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 |
OVERALL PERFORMANCE:
The Company was allotted 50 Acres land by Greater Noida Industrial Development Authority (GNIDA) for development of Group Housing in financial year 2010-2011. However in Financial Year 2011-2012, the authority had determined part lease deed in compliance of Judgement of Hon ble Supreme Court quashing of acquisition of land by GNIDA. During the financial year, GNIDA has allowed to start development and construction work at site on remaining area vide letter dt. 09th October, 2012. A supplementary correction deed for area 126302 SQM (originally 198135.62 SQM) has been executed on 08th February, 2013 and the company has also engaged the contractors on site for construction work
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Buildings
· Plant and equipment
· Factory equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Other equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
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 |
|
29 |
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.