MIRA INFORM REPORT
|
Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADIT CONTAINERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
34/ 133, Laxmi Industrial Estate, New Link Road, Andheri, Mumbai -
400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.10.1983 |
|
|
|
|
Com. Reg. No.: |
11-031185 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.700
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28100MH1983PTC031185 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19658G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4901F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Injection Bottles, Glass Ampules, Surgical Items, Viols, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 120000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field having moderate track record.
Its scale of activities are limited. The company possesses an acceptable financial profile marked by an
adequate networth base and favourable gap between trade receivables and
payables alongwith moderate working capital operations. Management has reported an appropriate turnover as well as net
profitability from its operations during FY13. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view on modest scale of its operations, 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DECLINED BY
|
Name : |
Mr. L.B. Patel |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-26364722 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered Office : |
34/ 133, Laxmi Industrial Estate, New Link Road, Andheri, Mumbai -
400053, Maharashtra, India |
|
Tel. No.: |
91-22-26364722/ 26365398/ 26314124 |
|
Fax No.: |
91-22-26369465 |
|
E-Mail : |
|
|
|
|
|
Factory : |
C1B, 625/627, GIDC Industrial Estate, Sangam, Village Bhilad, District
Valsad, Gujarat, India |
|
Tel. No.: |
91-260-2780104 |
|
Fax No.: |
91-260-2780104 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Anil Surendra Gupta |
|
Designation : |
Managing director |
|
Address : |
24 Sea Queen, 16 Juhu Tara Raod, Juhu, Mumbai - 400049, |
|
Date of Birth/Age : |
23.06.1950 |
|
Date of Appointment : |
25.10.1983 |
|
DIN No.: |
00197355 |
|
|
|
|
Name : |
Ms. Renu Anil Gupta |
|
Designation : |
Director |
|
Address : |
24 Sea Queen, 16 Juhu Tara Raod, Juhu, Mumbai - 400049, |
|
Date of Birth/Age : |
11.10.1954 |
|
Date of Appointment : |
25.10.1983 |
|
DIN No.: |
00197416 |
KEY EXECUTIVES
|
Name : |
Mr. L.B. Patel |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Anil Surendra Gupta |
2610 |
37.29 |
|
Renu Anil Gupta |
505 |
7.21 |
|
Govindkumar Goel |
100 |
1.43 |
|
Bina Gupta |
50 |
0.71 |
|
Aditi Parashar (Alias: Aditi Gupta) |
1710 |
24.43 |
|
Amit Gupta |
60 |
0.86 |
|
Anil Gupta as Karta of Anil Gupta [HUF] |
800 |
11.43 |
|
Adit Leasing and Finance Private Limited, India |
665 |
9.50 |
|
Anil Gupta as Karta of S N Gupta [HUF] |
500 |
7.14 |
|
|
|
|
|
Total |
7000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
9.50 |
|
Directors
or relatives of directors |
90.50 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Injection Bottles, Glass Ampules, Surgical Items, Viols, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Doshi and Company Chartered Accountants |
|
Address : |
602-E, Neelkanth 98, Marine Drive, Mumbai – 400002, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS7492K |
|
|
|
|
Significant
influence by relatives of KMP : |
· Adit Pharma Private Limited · Adit Leasing and Fin. Private Limited · Adit Containers |
|
|
|
|
Control by Relative
of KMP : |
· Zen Pharma Private Limited · SNG Pharma Private Limited · Adit Transport Company · Amit Enterprises · Amit Industries · HA Pharma Private Limited |
|
|
|
|
Control through Enterprise in which relative of KMP having significant
influence : |
Gujarat Ampoules and Vials Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.700
Million |
|
|
|
|
|
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 |
0.700 |
0.700 |
0.700 |
|
(b) Reserves & Surplus |
29.328 |
26.883 |
24.728 |
|
(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) |
30.028 |
27.583 |
25.428 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
7.040 |
4.159 |
8.058 |
|
(b)
Trade payables |
4.244 |
0.000 |
5.045 |
|
(c)
Other current liabilities |
1.985 |
1.159 |
0.825 |
|
(d)
Short-term provisions |
0.265 |
0.111 |
0.756 |
|
Total
Current Liabilities (4) |
13.534 |
5.429 |
14.684 |
|
|
|
|
|
|
TOTAL |
43.562 |
33.012 |
40.112 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.709 |
0.833 |
0.841 |
|
(ii)
Intangible Assets |
0.001 |
0.002 |
0.004 |
|
(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 |
0.018 |
0.018 |
0.018 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.803 |
0.709 |
0.562 |
|
(e)
Other Non-current assets |
0.168 |
0.184 |
0.206 |
|
Total
Non-Current Assets |
1.699 |
1.746 |
1.631 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
23.566 |
18.985 |
18.028 |
|
(c)
Trade receivables |
7.623 |
4.280 |
8.238 |
|
(d)
Cash and cash equivalents |
6.236 |
3.244 |
7.338 |
|
(e)
Short-term loans and advances |
4.389 |
4.744 |
4.871 |
|
(f)
Other current assets |
0.049 |
0.013 |
0.006 |
|
Total
Current Assets |
41.863 |
31.266 |
38.481 |
|
|
|
|
|
|
TOTAL |
43.562 |
33.012 |
40.112 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
50.756 |
39.466 |
57.379 |
|
|
|
Other Income |
0.752 |
0.480 |
NA
|
|
|
|
TOTAL |
51.508 |
39.946 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
47.926 |
36.768 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.582 |
3.178 |
6.634 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.137 |
1.022 |
2.157 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
2.445 |
2.156 |
4.477 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.609 |
(0.498) |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
349.29 |
307.95 |
639.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.75 |
5.40 |
NA
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.06 |
8.05 |
11.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.23 |
9.63 |
16.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.12 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23 |
0.15 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.09 |
5.76 |
2.62 |
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 |
0.700 |
0.700 |
0.700 |
|
Reserves & Surplus |
24.728 |
26.883 |
29.328 |
|
Net
worth |
25.428 |
27.583 |
30.028 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
8.058 |
4.159 |
7.040 |
|
Total
borrowings |
8.058 |
4.159 |
7.040 |
|
Debt/Equity
ratio |
0.317 |
0.151 |
0.234 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
57.379 |
39.466 |
50.756 |
|
|
|
(31.219) |
28.607 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
57.379 |
39.466 |
50.756 |
|
Profit |
4.477 |
2.156 |
2.445 |
|
|
7.80% |
5.46% |
4.82% |
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 |
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 |
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 |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans from Directors and Shareholders |
7.040 |
4.159 |
|
|
|
|
|
Total |
7.040 |
4.159 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
(a) Counter Guarantees given by the Company to the bankers for Bank Guarantee |
0.297 |
0.477 |
|
|
|
|
FIXED ASSETS:
· Land
· Factory Shed
· Staff Quarters
· Plant and Machinery
· Furniture and Fixtures
· Air Conditioners
· Office Equipments
· Vehicles
· Computer
· Eco Ventilator
· Computer Software
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. 59.48 |
|
|
1 |
Rs. 100.93 |
|
Euro |
1 |
Rs. 80.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
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 |
|
DEFAULTERS |
|
|
|
--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.