MIRA
INFORM REPORT
|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
TUSHAR FABRICS PRIVATE LIMITED (w.e.f.
13.06.2009) |
|
|
|
|
Formerly Known
As : |
TDT INVESTMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
109/ A, Kewal Industrial Estate, Senapati
Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.01.2007 |
|
|
|
|
Com. Reg. No.: |
11-167373 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.150.001 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2007PTC167373 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT6029M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Fabrics. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1940000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having
satisfactory track record. There seems some dip in the profit of the
company during 2013 however networth of the company
is satisfactory. General financial position of the company is normal and
acceptable for business dealing. Trade relations are reported as fair.
Business is active. Payment terms are reported to be usually correct. The company can be considered normal 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.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Tushar Dharamshi
Thakkar |
|
Designation : |
Director |
|
Contact No.: |
91-9320028700 |
|
Date : |
21.07.2014 |
LOCATIONS
|
Registered Office : |
109/ A, Kewal Industrial Estate, Senapati
Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra,
India |
|
Tel. No.: |
91-22-30423800 / 30423801 / 30423082 / 30423083 |
|
Mobile No.: |
91-9320028700 (Mr. Tushar Dharamshi Thakkar) |
|
Fax No.: |
91-22-30423806 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Tushar Dharamshi
Thakkar |
|
Designation : |
Director |
|
Address : |
Flat No. 50, 12th Floor Utakarsh Chs Limited, J.A. Raut Marg, Prabhadevi, Mumbai –
400025, Maharashtra, India |
|
Date of Appointment : |
29.01.2007 |
|
DIN No.: |
00252823 |
|
|
|
|
Name : |
Mrs. Jayshree Tushar
Thakkar |
|
Designation : |
Director |
|
Address : |
Flat No. 50, 12th Floor Utakarsh Chs Limited, J.A. Raut Marg, Prabhadevi, Mumbai –
400025, Maharashtra, India |
|
Date of Appointment : |
29.01.2007 |
|
PAN No.: |
AAEPT7645Q |
|
DIN No.: |
01017226 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Thakkar Dharamshi
Tushar |
|
8370600 |
|
Thakkar Tushar
Jayshree |
|
2577600 |
|
Tushar Dharamshi
Thakkar Huf |
|
274600 |
|
Chandrana R. Chandrakant |
|
10600 |
|
Chandrana Chandrakant
Rashmiben |
|
10600 |
|
Thakkar Tushar
Sagar |
|
1256000 |
|
JVG Apparels Private Limited, India |
|
2500000 |
|
Chandrakant R. Chandarana (Huf) |
|
100 |
|
Total |
|
15000100 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
16.67 |
|
Directors or relatives of Directors |
83.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Fabrics. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
ICICI
Bank Limited, Landmarkrace Cource
Circle, Alkapuri, Baroda - 390015, Gujarat, India ·
Bank of Baroda, Bhat Bazar Branch, Adamji Building,
1st Floor, 413, Syed Mukri
Street,, Mumbai - 400009, Maharashtra, India ·
IDBI Bank Limited, 1st Floor, Marigold House,
Plot No.A-34, Cross Road No.2, Marol, MIDC, Andheri East - 400093, Maharashtra,
India |
||||||||||||
|
|
|
||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rahul Gosar
and Associates Chartered Accountants |
|
Address : |
7, Mhatre pen building, Senapati Bapat Marg, Dadar (West), Mumbai –
400028. Maharashtra, India |
|
Tel. No.: |
91-22-65072222 / 3333 |
|
Fax No.: |
91-22-24378383 |
|
PAN No.: |
AAJPG9557F |
|
|
|
|
Associates : |
Tushar Clothing Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17500000 |
Equity Shares |
Rs.10/- each |
Rs.175.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000100 |
Equity Shares |
Rs.10/- each |
Rs.150.001 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 |
150.001 |
150.001 |
150.001 |
|
(b) Reserves & Surplus |
334.104 |
294.365 |
252.277 |
|
(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) |
484.105 |
444.366 |
402.278 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
386.091 |
469.722 |
422.903 |
|
(b) Deferred tax liabilities (Net) |
0.126 |
0.057 |
0.076 |
|
(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) |
386.217 |
469.779 |
422.979 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
249.141 |
127.142 |
0.000 |
|
(b) Trade payables |
55.290 |
35.747 |
26.952 |
|
(c) Other current
liabilities |
47.234 |
84.088 |
4.530 |
|
(d) Short-term provisions |
14.741 |
5.491 |
4.660 |
|
Total Current Liabilities (4) |
366.406 |
252.468 |
36.142 |
|
|
|
|
|
|
TOTAL |
1,236.728 |
1,166.613 |
861.399 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
125.217 |
121.215 |
1.465 |
|
(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 |
11.317 |
11.317 |
11.317 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.110 |
10.053 |
18.792 |
|
(e) Other Non-current assets |
165.249 |
56.034 |
0.000 |
|
Total Non-Current Assets |
308.893 |
198.619 |
31.574 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
125.271 |
136.276 |
221.026 |
|
(c) Trade receivables |
781.724 |
617.935 |
600.997 |
|
(d) Cash and cash
equivalents |
10.731 |
213.674 |
7.049 |
|
(e) Short-term loans and
advances |
10.000 |
0.000 |
0.000 |
|
(f) Other current assets |
0.109 |
0.109 |
0.753 |
|
Total Current Assets |
927.835 |
967.994 |
829.825 |
|
|
|
|
|
|
TOTAL |
1,236.728 |
1,166.613 |
861.399 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
59.082 |
62.786 |
34.102 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.150 |
0.163 |
0.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
58.832 |
62.623 |
33.903 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.155 |
20.535 |
11.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
39.777 |
42.088 |
22.106 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.65 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.80 |
5.42 |
3.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.14 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.31 |
1.34 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.53 |
3.83 |
22.96 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Share Capital |
150.001 |
150.001 |
150.001 |
|
Reserves & Surplus |
252.277 |
294.365 |
334.104 |
|
Net
worth |
402.278 |
444.366 |
484.105 |
|
|
|
|
|
|
long-term borrowings |
422.903 |
469.722 |
386.091 |
|
Short term borrowings |
0.000 |
127.142 |
249.141 |
|
Total
borrowings |
422.903 |
596.864 |
635.232 |
|
Debt/Equity
ratio |
1.051 |
1.343 |
1.312 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Other loans and advances |
147.111 |
292.681 |
|
Short Term Borrowings |
|
|
|
Other loans and advances |
249.141 |
127.142 |
|
Total |
396.252 |
419.823 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51909MH2007PTC167373 |
|
Name of the
company |
TUSHAR FABRICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
109/ A, Kewal Industrial Estate, Senapati
Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra,
India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
IDBI Bank Limited, 1st Floor, Marigold House, Plot No.A-34, Cross Road
No.2, Marol, MIDC, Andheri
East - 400093, Maharashtra, India |
|
Nature of instrument
creating charge |
Home Loan
Agreement Memorandum Of
Deposit Of Title Deeds (Both This
Instruments Create Single Charge Only ) |
|
Date of
instrument Creating the charge |
31.01.2014 |
|
Amount secured by
the charge |
Rs.99.455
Millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of Interest 10.25% p.a.
floating Terms of
Repayment On the 10th of
the month following the month in which it is received. Margin As Per Agreement Extent and Operation
of the charge This charge shall
extent and operate over the property as mentioned in the agreement to secure
the repayment of loan along with its interest and all other costs as agreed
between the borrower and the bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Household
Property having 3364 sqft at Flat No.5001, World
Crest Building, Senapati Bapat
Marg, Survey No. 443/445, Mumbai, Near Kamla Mill, Lower Parel,
400013, Mumbai, Maharashtra, India |
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 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.60.18 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.