MIRA INFORM REPORT
|
Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZEAL TRADELINKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-803, Safal Solitaire Corporate Park, Near Divya Bhaskar Press,
S.G. Highway, Makarba, Ahmedabad – 380051, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.03.2010 |
|
|
|
|
Com. Reg. No.: |
04-059762 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900GJ2010PTC059762 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor and Wholesaler of Insecticides
and Pesticides, Agri Equipment’s, Bio Pesticides, Fertilizers. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company possesses a moderate financial profile marked by moderate
net worth base and comfortable capital structure characterized by zero debt
along with high total liabilities to its networth during the year under
review. Management has witnessed a growth in its sales volume, but has
reported a thin profit margin as a result of low value adding nature of the
business. Trade relations seems to be fair. Business is active. Payment terms
are reported as slow but correct. In view of constant overall development, the subject can be considered
for business dealings with slight 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
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 DENIED BY
|
Name : |
Mr. Vinubhai
Becharbhai Patel |
|
Designation : |
Director |
|
Contact No.: |
91-9727703775 |
|
Date : |
27.06.2014 |
LOCATIONS
|
Registered Office : |
B-803, Safal Solitaire Corporate Park, Near Divya Bhaskar
Press, S.G. Highway, Makarba, Ahmedabad – 380051, Gujarat, India |
|
Tel. No.: |
91-79-40323167 |
|
Mobile No.: |
91-9727703775 (Mr.
Vinubhai Becharbhai Patel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Branch Offices : |
Located At:
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Vinubhai
Becharbhai Patel |
|
Designation : |
Director |
|
Address : |
B.No.20 Signature
Residency, Oppostie Suvrna Bunglows, 100 Road, Thaltej, Ahmedabad – 380059,
Gujarat, India |
|
Date of Appointment : |
03.03.2010 |
|
|
|
|
Name : |
Kailasbahen
Vinubhai Patel |
|
Designation : |
Director |
|
Address : |
B.No.20 Signature
Residency, Oppostie Suvrna Bunglows, 100 Road, Thaltej, Ahmedabad – 380059,
Gujarat, India |
|
Date of Appointment : |
03.03.2010 |
|
|
|
|
Name : |
Mr. Ramanathan
Kuppuswamy Iyer |
|
Designation : |
Director |
|
Address : |
103 Gayatri Appartments, Airliners, CGHS Limited, Sec 10
Plot No.27, Dwarka, Delhi - 110075, India |
|
Date of Appointment : |
03.03.2010 |
|
|
|
|
Name : |
Mrs. Bhagwanbhai
Galbabhai Patel |
|
Designation : |
Director |
|
Address : |
1/138 Munai Bhiloda, Sabarkantha Distt, Sabarkantha –
382450, Gujarat, India |
|
Date of Appointment : |
27.10.2010 |
|
|
|
|
Name : |
Mr. Harshadkumar
Shamalbhai Patel |
|
Designation : |
Director |
|
Address : |
At Po Kadiadra Tal Idar, Sabarkantha Distt, Sabarkantha
– 382450, Gujarat, India |
|
Date of Appointment : |
27.10.2010 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Mr. Vinubhai
Becharbhai Patel |
7500 |
75.00 |
|
Ramanathan
Kuppuswamy Iyer |
2500 |
25.00 |
|
Total |
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor and Wholesaler of Insecticides
and Pesticides, Agri Equipment’s, Bio Pesticides, Fertilizers. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prakash Bhavsar and Associates Chartered Accountants |
|
Address : |
A-106 Oxford Avenue, Opposite C U Shah College, Income Tax , Ashram
Road, Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
AAQPB5026P |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
4.052 |
2.273 |
0.525 |
|
(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) |
4.152 |
2.373 |
0.625 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.011 |
0.011 |
0.011 |
|
(c) Other long term
liabilities |
14.345 |
10.621 |
8.286 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
14.356 |
10.632 |
8.297 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
83.866 |
139.948 |
105.960 |
|
(c) Other
current liabilities |
0.000 |
5.553 |
0.000 |
|
(d) Short-term
provisions |
15.739 |
30.126 |
26.691 |
|
Total Current
Liabilities (4) |
99.605 |
175.627 |
132.651 |
|
|
|
|
|
|
TOTAL |
118.113 |
188.632 |
141.573 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1.496 |
2.103 |
4.233 |
|
(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 |
0.013 |
0.013 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.548 |
0.366 |
4.015 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2.057 |
2.482 |
8.248 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
43.772 |
11.462 |
|
(c) Trade
receivables |
41.252 |
104.878 |
102.248 |
|
(d) Cash
and cash equivalents |
45.270 |
6.571 |
12.541 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
29.534 |
30.929 |
7.074 |
|
Total
Current Assets |
116.056 |
186.150 |
133.325 |
|
|
|
|
|
|
TOTAL |
118.113 |
188.632 |
141.573 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
991.823 |
939.907 |
960.056 |
|
|
|
Other Income |
4.648 |
0.420 |
0.023 |
|
|
|
TOTAL (A) |
996.471 |
940.327 |
960.079 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
929.475 |
918.434 |
894.352 |
|
|
|
Purchase of Stock-in-trade |
43.772 |
(32.310) |
(11.462) |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
6.431 |
10.651 |
20.186 |
|
|
|
Employee Benefits Expenses |
13.744 |
40.606 |
54.553 |
|
|
|
Other Expenses |
0.000 |
0.059 |
0.003 |
|
|
|
TOTAL (B) |
993.422 |
937.440 |
957.632 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.049 |
2.887 |
2.447 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.640 |
0.000 |
0.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2.409 |
2.887 |
2.211 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.629 |
1.160 |
1.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1.780 |
1.727 |
0.762 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.203 |
0.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1.780 |
1.524 |
0.525 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
178.00 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.18 |
0.16 |
0.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.18 |
0.18 |
0.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51 |
0.92 |
0.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43 |
0.73 |
1.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.06 |
1.01 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.525 |
2.273 |
4.052 |
|
Net worth |
0.625 |
2.373 |
4.152 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
960.056 |
939.907 |
991.823 |
|
|
|
(2.099) |
5.524 |
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
|
960.056 |
939.907 |
991.823 |
|
Profit |
0.525 |
1.524 |
1.780 |
|
|
0.05% |
0.16% |
0.18% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS 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 |
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 |
No |
|
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 |
No |
|
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 |
NO CHARGES EXIST FOR
THE COMPANY
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 records 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.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
|
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
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31 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.