MIRA
INFORM REPORT
|
Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAHA MERCANTILE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
City Heights, 4th Floor, 40/C, Jessore
Road South, Dak Banglow
More, Barasat, Kolkata-700124, West Bengal |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.01.2011 |
|
|
|
|
Com. Reg. No.: |
21-156615 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 1.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909WB2011PTC156615 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of FMCG Product |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8000 |
|
|
|
|
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 reflects moderate financial risk profile marked by low
profit margin and increased in the borrowings of the company during 2013. However, trade relations are reported as fair. Business is active.
Payments 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to
battle with the rapidly expanding India arm of the global e-commerce giant
Amazon. The company raised $ 210 million from Russian Investment firm DST
Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune
in the second half of 2014. GM was one of the few global carmakers that was
using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year
to $ 158.84 billion. The top 10 of the 100 slots were dominated by US
companies.
Infosys lost another heavy weight when B G Srinivas,
a board member put in his papers. He is the third CEO-hopeful to quit after
Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two.While
Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs 2153.37 crore
– in the three months ended March 31, mainly because it has been offering
discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala
Police had arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
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 PARTED BY
|
Name : |
Mr. Avijit Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9062462212 |
|
Date : |
26.06.2014 |
LOCATIONS
|
Registered Office / Head Office : |
City Heights, 4th Floor, 40/C, Jessore
Road South, Dak Banglow
More, Barasat, Kolkata-700124, West Bengal,
India |
|
Tel. No.: |
91-33-25624613 |
|
Mobile No.: |
91-9062462212 (Mr. Avijit Shah) |
|
Fax No.: |
91-33-40639194 |
|
E-Mail : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Maruti Chamber, Block No.301, 3rd
Floor, Station Road, Near S T Bus Deport, Vasai
Road (West), Thane-401202, Maharashtra, India |
|
|
|
|
Factory : |
Located At ·
West Bengal ·
Gujarat |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Ms. Sikha Saha |
|
Designation : |
Director |
|
Address : |
Dakshin Nabapally, 794,
Krishnapur Road, P O Nabapally,
Barasat, Kolkata-700126, West Bengal, India |
|
Date of Birth/Age : |
28.03.1959 |
|
Date of Appointment : |
03.01.2011 |
|
PAN No.: |
ALGPS1414F |
|
DIN No.: |
03320585 |
|
|
|
|
Name : |
Mr. Avijit Saha |
|
Designation : |
Director |
|
Address : |
Dakshin Nabapally, 794,
Krishnapur Road, P O Nabapally,
Barasat, Kolkata-700126, West Bengal, India |
|
Date of Birth/Age : |
01.05.1987 |
|
Date of Appointment : |
03.01.2011 |
|
PAN No.: |
BEGPS9559P |
|
DIN No.: |
03309747 |
|
|
|
|
Name : |
Mr. Swarup Kumar Saha
|
|
Designation : |
Director |
|
Address : |
Dakshin Nabapally, 794,
Krishnapur Road, P O Nabapally,
Barasat, Kolkata-700126, West Bengal, India |
|
Date of Birth/Age : |
10.01.1959 |
|
Date of Appointment : |
03.01.2011 |
|
PAN No.: |
ALGPS1418K |
|
DIN No.: |
03320582 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Swarup
Kumar Saha |
108,000 |
60.00 |
|
Sikha Saha |
24,000 |
13.33 |
|
Avijit Saha |
48,000 |
26.67 |
|
TOTAL |
180,000 |
100.00 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of FMCG Product |
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Exports : |
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|
Products : |
Finished Goods |
|
Countries : |
·
Malaysia ·
Singapore |
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|
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|
Terms : |
|
|
Selling : |
Depend |
|
|
|
|
Purchasing : |
Depend |
GENERAL INFORMATION
|
Suppliers : |
·
Shri Cher Food
Private Limited, Gujarat, India |
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Customers : |
·
Suman Enterprises, West Bengal, India |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
Allahabad Bank, Dak Bunglow More, Jessore Road, PO Barasat District North 24, Parganas,
Kolkata-700124, West Bengal, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jaladhar Swai and
Company Chartered Accountant |
|
Address : |
181/1A, R R M Roay
Road, Kolkata-700041, West Bengal, India
|
|
PAN No.: |
AZEPS3921P |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
180000 |
Equity Shares |
Rs.10/- each |
Rs. 1.800
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.800 |
1.800 |
|
(b) Reserves & Surplus |
|
0.310 |
0.120 |
|
(c) Money received against share
warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2.110 |
1.920 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
8.055 |
4.438 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
8.055 |
4.438 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4.320 |
0.000 |
|
(b) Trade payables |
|
7.695 |
1.796 |
|
(c) Other current liabilities |
|
0.000 |
0.052 |
|
(d) Short-term provisions |
|
0.068 |
0.054 |
|
Total
Current Liabilities (4) |
|
12.083 |
1.902 |
|
|
|
|
|
|
TOTAL |
|
22.248 |
8.260 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1.865 |
2.046 |
|
(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) |
|
0.006 |
0.000 |
|
(d) Long-term Loan and
Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1.871 |
2.046 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
5.164 |
3.549 |
|
(c) Trade receivables |
|
10.590 |
1.083 |
|
(d) Cash and cash equivalents |
|
1.392 |
1.549 |
|
(e) Short-term loans and
advances |
|
3.201 |
0.033 |
|
(f) Other current assets |
|
0.030 |
0.000 |
|
Total
Current Assets |
|
20.377 |
6.214 |
|
|
|
|
|
|
TOTAL |
|
22.248 |
8.260 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
84.736 |
70.457 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
TOTAL |
|
84.736 |
70.457 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
84.484 |
71.085 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
|
(3.549) |
|
|
Employees benefits expense |
|
|
0.723 |
|
|
Other expenses |
|
|
1.873 |
|
|
TOTAL |
|
84.484 |
70.132 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
0.325 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.151 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
0.252 |
0.174 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.062 |
0.054 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
0.190 |
0.120 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
1.06 |
-- |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
143.000 |
|
|
|
|
|
The above information has been parted by Mr. Avijit
Shah.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
|
PAT / Total Income |
(%) |
|
0.22 |
0.17 |
|
|
|
|
|
|
|
|
|
Net Profit Margin |
(%) |
|
0.36 |
0.25 |
|
|
|
|
|
|
|
|
|
Return on Total Assets |
(%) |
|
1.13 |
2.11 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) |
|
|
0.12 |
0.09 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
|
|
5.86 |
2.31 |
|
|
|
|
|
|
|
|
|
Current Ratio |
|
|
1.69 |
3.27 |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
1.800 |
1.800 |
|
Reserves & Surplus |
0.120 |
0.310 |
|
Net
worth |
1.920 |
2.110 |
|
|
|
|
|
long-term borrowings |
4.438 |
8.055 |
|
Short term borrowings |
0.000 |
4.320 |
|
Total
borrowings |
4.438 |
12.375 |
|
Debt/Equity
ratio |
2.311 |
5.865 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
70.457 |
84.736 |
|
|
|
20.266 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
|
Sales |
70.457 |
84.736 |
|
Profit |
0.120 |
0.190 |
|
|
0.17% |
0.22% |
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
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 |
----- |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Short Term
Borrowings |
|
|
|
From Directors |
4.320 |
0.000 |
|
|
|
|
|
TOTAL |
4.320 |
0.000 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10405967 |
17/01/2013 |
10,000,000.00 |
ALLAHABAD BANK |
DAK BUNGLOW MORE, JESSORE ROAD,, PO: BARASAT, DIST: NORTH 24 PARGANAS, KOLKATA, WEST BENGAL - 700124, INDIA |
B68900182 |
FIXED ASSETS
·
Furniture and Fixture
·
Computer
·
Air Conditioner
·
Semi-Automatic Machine
·
Packing Machine
·
Weighing Machine
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. 60.09 |
|
|
1 |
Rs. 102.32 |
|
Euro |
1 |
Rs. 82.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
3 |
|
--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 |
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 |
|
28 |
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.