|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEEKAY PINE BOARD PRIVATE LIMITED |
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Registered Office : |
Survey No. 338, Bhachau – |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
07.03.2002 |
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Com. Reg. No.: |
04-040528 |
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Capital Investment / Paid-up Capital : |
Rs.17.115 Millions |
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CIN No.: [Company
Identification No.] |
U20219GJ2002PTC040528 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
RKTD00901F |
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PAN No.: [Permanent
Account No.] |
AABCD4974G |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer of Plywood, Ply board and Veneer. |
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No. of Employees
: |
Information Declined by Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
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 170000 |
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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 an established company having moderate track record. The rating constrained by modest scale of operations in a highly
fragmented nature of industry marked by thin profit margins and modest
liquidity position. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term bank Facilities=BB- |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
07.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities=A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
07.10.2013 |
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
31-03-2012.
INFORMATION DENIED
|
Name : |
Mr. Bora |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9374954076 |
|
Date : |
02.01.2014 |
LOCATIONS
|
Registered Office : |
Survey No. 338, Bhachau – Anjar Road, Tal-Anjar, Village Bhimasar –
370 248, Gujarat, India |
|
Tel. No.: |
91-2836-324015 |
|
Mobile No.: |
91-9374954076 (Mr. Ashwini Kedia) |
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Fax No.: |
91-2836-286319 |
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E-Mail : |
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Factory : |
NHW 8A, Padana, Gandhidham – 370 240, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mrs. Ashwini Kedia |
|
Designation : |
Director |
|
Address : |
C/O. Deekay Impex, Plot No. 74, Ward 10A, Opp. IFFCO Colony,
Gandhidham – 370 001, |
|
Date of Birth/Age : |
22.04.1981 |
|
Date of Appointment : |
14.12.2002 |
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DIN No.: |
01161460 |
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|
|
Name : |
Mr. Dilip Shankarlal Kedia |
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Designation : |
Director |
|
Address : |
C/O. Deekay Impex, Plot No. 74, Ward 10A, Opp. IFFCO Colony,
Gandhidham – 370 201, |
|
Date of Birth/Age : |
23.05.1965 |
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Date of Appointment : |
07.03.2002 |
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DIN No.: |
01842090 |
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Name : |
Mr. Vijay Kumar Kedia |
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Designation : |
Director |
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Address : |
67/25, |
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Date of Birth/Age : |
17.03.1951 |
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Date of Appointment : |
07.03.2002 |
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DIN No.: |
01880182 |
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|
Name : |
Mrs. Manjulika Kedia |
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Designation : |
Director |
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Address : |
FE-321, |
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Date of Birth/Age : |
28.02.1962 |
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Date of Appointment : |
07.03.2002 |
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DIN No.: |
02120107 |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dilip S Kedia |
|
1054500 |
|
SLK Progressive Veneer Private Limited, India |
|
342000 |
|
Manjulika Kedia |
|
111000 |
|
Vijay Kedia |
|
98000 |
|
Ashwini Kedia |
|
106000 |
|
|
|
|
|
Total |
|
1711500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
20.00 |
|
Directors or relatives of Directors |
80.00 |
|
Other top fifty shareholders |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plywood, Ply board and Veneer. |
|
|
|
|
Products : |
·
Face
Veneer ·
Plywood
Black Boards ·
Decorative
timber ·
Squash
Court ·
Badminton
Court |
GENERAL INFORMATION
|
Suppliers : |
·
Adonis Limited ·
Jagdamba Industries A’bad ·
Jain Plywood House ·
Forlin Timbers Pte. Limited ·
Hindustan Timber Traders ·
MGA International Pte. Limited ·
Pallan Export and Import Company ·
Popular Timbers ·
Purbanchal Laminates Private Limited ·
Pragati Polymers |
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Customers : |
·
Aadinath Enterprises ·
Ambika Plywood Industries ·
Avian Enterprises ·
Four Seasons Sales Private Limited ·
Gaesh Plywood Industries ·
Geeta Wood Products ·
Green Valley Marketing Private Limited ·
Gujarat Timber Industries ·
Gujarat Woodlam Products Private Limited ·
Guru Krupa Industries |
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No. of Employees : |
Information Declined by Management |
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Bankers : |
Corporation bank, DBZ – North 193, Talwar Building, Opposite Hotel
Shiv Regency, Gandhidham – 370 201, Gujarat, India |
||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
I.H. Desai and Associates Chartered Accountants |
|
Address : |
Office No.13 and 14, Shree Ganesh Building, Plot No.592, Ward 12/C, Near
Police Station, Gandhidham – 370 201, Gujarat, India |
|
Tel. No.: |
91-2832-226582 |
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Fax No.: |
91-2836-222085/ 233121 |
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E-mail : |
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PAN No.: |
AABFI5449L |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1711500 |
Equity Shares |
Rs. 10/- each |
Rs.17.115 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 |
17.115 |
17.115 |
17.115 |
|
(b) Reserves & Surplus |
25.466 |
20.391 |
19.591 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
0.000 |
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
42.581 |
37.506 |
36.706 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
40.654 |
0.336 |
2.006 |
|
(b) Deferred tax liabilities (Net) |
0.539 |
0.606 |
0.676 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
41.193 |
0.942 |
2.682 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
18.355 |
24.270 |
24.704 |
|
(b) Trade payables |
141.931 |
101.589 |
61.638 |
|
(c) Other current
liabilities |
2.411 |
0.624 |
2.642 |
|
(d) Short-term provisions |
3.670 |
0.032 |
0.052 |
|
Total Current Liabilities (4) |
166.367 |
126.515 |
89.036 |
|
|
|
|
|
|
TOTAL |
250.141 |
164.963 |
128.424 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13.700 |
14.826 |
11.041 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
36.340 |
21.213 |
0.286 |
|
Total Non-Current Assets |
50.040 |
36.039 |
11.327 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
87.039 |
74.009 |
37.636 |
|
(c) Trade receivables |
89.181 |
45.311 |
67.072 |
|
(d) Cash and cash
equivalents |
22.642 |
9.454 |
12.305 |
|
(e) Short-term loans and
advances |
0.000 |
0.021 |
0.000 |
|
(f) Other current assets |
1.239 |
0.129 |
0.084 |
|
Total Current Assets |
200.101 |
128.924 |
117.097 |
|
|
|
|
|
|
TOTAL |
250.141 |
164.963 |
128.424 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
365.419 |
339.589 |
226.705 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
350.542 |
333.424 |
219.618 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.877 |
6.165 |
7.087 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.619 |
3.361 |
3.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
9.258 |
2.804 |
3.117 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.568 |
1.644 |
1.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
7.690 |
1.160 |
1.542 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.615 |
0.360 |
0.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
5.075 |
0.800 |
1.046 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.581 |
3.781 |
2.735 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.656 |
4.581 |
3.781 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.97 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.39
|
0.24 |
0.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.60
|
0.81 |
1.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.03 |
004 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.39
|
0.03 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.02 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT IS 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 |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Ashwini Kedia |
5.746 |
0.000 |
|
Dilip Kedia |
22.678 |
0.000 |
|
Mangal Kamna
Commodeal Private Limited |
3.615 |
0.000 |
|
Rishi Finman
Consultancy Private Limited |
1.700 |
0.000 |
|
Subh Labh
Pratisthan Private Limited |
0.515 |
0.000 |
|
Ujjwal
Commodities Private Limited |
5.227 |
0.000 |
|
Vijay Kedia |
1.089 |
0.000 |
|
|
|
|
|
Total |
40.570 |
0.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90112889 |
24/06/2004 |
10,000,000.00 |
CORPORATION
BANK |
GANDHIDHAM
BRANCH, GANDHIDHAM, KUTCH, GUJARAT, INDIA |
- |
|
2 |
90112794 |
30/08/2012
* |
155,000,000.00 |
CORPORATION
BANK |
DBZ
- NORTH 193, TALWAR BUILDING, OPP HOTEL SHIV |
B59234815 |
* Date of charge modification
OPERATIONS:
Subject carried activity of manufacturing and sales of
veneers / plywood during the year. Subject was also having trading of timber
during the year. Subject purchased 24363.428 CBM of timber and sold the
previous financial year and sold 16820.633 CBM of timber and sold 997.813 CBM
of Sawn Timber part of same was used for manufacturing of veneers and plywood
and balance of quantity remained as unsold stock of timber. Overall operations
of the company remained at satisfactory level.
FIXED ASSETS:
·
Land
·
Factory
·
Plant and Machinery
·
Air Conditioner
·
EPBX System
·
Hydraulic Crane
·
General Set
·
Instrument for Laboratory
·
Refrigerator
·
Plant and Machinery
·
LCD TV
·
Mobile Instrument
·
Motor Car
·
Scooter
·
Computer
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.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
34 |
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.