MIRA INFORM REPORT
|
Report Date : |
12.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAGHUNANDAN IMPEX |
|
|
|
|
Registered
Office : |
C-4, 3rd Floor, Bardoliya Plot, Gotalawadi Katargam Road,
Surat – 395004, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.02.2011 |
|
|
|
|
Com. Reg. No.: |
24-022-11-39109 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 4.758 Millions |
|
|
|
|
IEC No.: |
5210041239 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMFR8559H |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Finished Diamond. |
|
|
|
|
No. of Employees
: |
62 (Approximately) (In Office = 12 and In Factory = 50) |
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 a partnership concern with limited operational history
having moderate track record. The company possesses a moderate financial profile marked by modest capital
base along with huge total liabilities to tangible networth base and high
inventory days. Management has reported an acceptable revenue base and minimal net
profitability during FY13, as against a previous year loss. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of experienced partners, the concern can be considered for
business dealings with 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had illfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 PARTED BY
|
Name : |
Mr. Mihir Gabani |
|
Designation : |
BDM |
|
Contact No.: |
91-9537170550 |
|
Date : |
12.11.2014 |
LOCATIONS
|
Registered Office/ Factory : |
C-4, 3rd Floor, Bardoliya Plot, Gotalawadi Katargam Road,
Surat – 395004, Gujarat, India |
|
Tel. No.: |
91-261-2532711 |
|
Mobile No.: |
91-9537170550 (Mr. Mihir Gabani) 91-9825960156 (Mr. Vallabhbhai Gopalbhai Gabani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Vallabhbhai Gopalbhai Gabani |
|
Designation : |
Partner |
|
Address : |
15, Anmol Park Society, Katargam, Surat, Gujarat, India |
|
Date of Birth/Age : |
08.02.1970 |
|
Qualification : |
HSC |
|
Experience : |
5 Year |
|
|
|
|
Name : |
Mr. Nareshbhai Gopalbhai Gabani |
|
Designation : |
Partner |
|
Address : |
15, Anmol Park Society, Katargam, Surat, Gujarat, India |
|
Date of Birth/Age : |
30.04.1976 |
|
Qualification : |
HSC |
|
Experience : |
5 Years |
|
|
|
|
Name : |
Mr. Naranbhai Gopalbhai Gabani |
|
Designation : |
Partner |
|
Address : |
15, Anmol Park Society, Katargam, Surat, Gujarat, India |
|
Date of Birth/Age : |
03.04.1965 |
|
Qualification : |
SSC |
|
Experience : |
7 Year |
|
|
|
|
Name : |
Mr. Dharmesh Dhanjibhai Patel |
|
Designation : |
Partner |
|
Address : |
E-1001, Laxmi Residancy, Surat, Gujarat, India |
|
Date of Birth/Age : |
26.11.1984 |
|
Qualification : |
HSC |
|
Experience : |
4 Year |
|
|
|
|
Name : |
Mr. Dhanjibhai Gopalbhai Patel |
|
Designation : |
Partner |
|
Address : |
E-1001, Laxmi Residancy, Surat, Gujarat, India |
|
Date of Birth/Age : |
08.09.1959 |
|
Qualification : |
SSC |
|
Experience : |
7 Year |
|
|
|
|
Name : |
Mr. Sandeep Vasrambahi Patel |
|
Designation : |
Partner |
|
Address : |
E-901, Laxmi Residancy, Surat, Gujarat, India |
|
Date of Birth/Age : |
17.07.1984 |
|
Qualification : |
HSC |
|
Experience : |
4 Year |
KEY EXECUTIVES
|
Name : |
Mr. Mihir Gabani |
|
Designation : |
BDM |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Finished Diamond. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Rough Diamonds |
|
Countries : |
Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Credit (12-180 Days) |
GENERAL INFORMATION
|
Suppliers : |
Not Available |
|
|
|
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
62 (Approximately) (In Office = 12 and In Factory = 50) |
|
|
|
|
Bankers : |
Axis Bank Limited, Digvijay Tower, Opposite St. Xaviers School, Ghod
Dod Road, Surat – 395001, Gujarat, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Avinash Shyamsunder Poddar Chartered Accountant |
|
Address : |
L16-17, Agrasen Point, Opposite Maharaja Acade, Citi Light Surat,
Gujarat, India |
|
Tel. No.: |
91-261-4023232 – 34 |
|
Mobile No.: |
91-9825113570 |
|
Fax. No.: |
91-261-2254408 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
|
Particulars |
Rs.
In Millions |
|
Dhanjibhai Gopalbhai Patel |
0.795 |
|
Dharmesh Dhanjibhai Patel |
0.752 |
|
Narayanbhai Gopalbhai Patel |
0.475 |
|
Nareshbhai Gopalbhai Gabani |
0.927 |
|
Sandeep Vashrambhai Patel |
0.949 |
|
Vallabhbhai Gopalbhai Gabani |
0.860 |
|
Total |
4.758 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.758 |
3.836 |
0.053 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.576 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.334 |
3.836 |
0.053 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
4.792 |
4.325 |
0.000 |
|
|
TOTAL BORROWING |
4.792 |
4.325 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.126 |
8.161 |
0.053 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.794 |
0.284 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.045 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
37.518 |
23.170 |
0.000 |
|
|
Sundry Debtors |
1.966 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.887 |
1.498 |
0.053 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
0.178 |
0.000 |
0.000 |
|
Total
Current Assets |
40.549 |
24.668 |
0.053 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.072 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.000 |
15.808 |
0.000 |
|
|
Provisions |
1.190 |
0.983 |
0.000 |
|
Total
Current Liabilities |
31.262 |
16.791 |
0.000 |
|
|
Net Current Assets |
9.287 |
7.877 |
0.053 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10.126 |
8.161 |
0.053 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
90.251 |
63.197 |
0.000 |
|
|
|
Other Income |
0.634 |
0.336 |
0.000 |
|
|
|
TOTAL (A) |
90.885 |
63.533 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
72.208 |
50.007 |
0.000 |
|
|
|
Material and Traders Expenses |
0.290 |
0.289 |
0.000 |
|
|
|
Power and Fuel Expenses |
0.841 |
0.859 |
0.000 |
|
|
|
Salary and Wages |
9.546 |
6.714 |
0.000 |
|
|
|
Soing and Curfing Labour Expenses |
0.840 |
0.795 |
0.000 |
|
|
|
Accounting Fees Expenses. |
0.025 |
0.025 |
0.000 |
|
|
|
Audit Fees |
0.011 |
0.011 |
0.000 |
|
|
|
Cust. Clearing & For Expenses |
0.061 |
0.055 |
0.000 |
|
|
|
Employer's Cont. Of P.F |
0.035 |
0.000 |
0.000 |
|
|
|
Interest Expenses-Partner Capital |
0.400 |
0.361 |
0.000 |
|
|
|
Interest Expenses-Unsecured Loan |
0.519 |
0.239 |
0.000 |
|
|
|
Iso Subsidy Expenses |
0.112 |
0.000 |
0.000 |
|
|
|
Office Staff Salary |
3.719 |
2.195 |
0.000 |
|
|
|
Remuneration To Partners |
0.860 |
0.747 |
0.000 |
|
|
|
Saran Manjai Expenses |
0.145 |
0.154 |
0.000 |
|
|
|
Traveling Expenses |
0.375 |
0.491 |
0.000 |
|
|
|
Bank charges |
0.000 |
0.000 |
0.007 |
|
|
|
Other expenses |
0.188 |
0.144 |
0.000 |
|
|
|
TOTAL |
162.673 |
63.086 |
0.007 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.710 |
0.447 |
(0.007) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.132 |
0.043 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
FOR THE YEAR |
0.578 |
0.404 |
(0.007) |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
0.053 |
3.836 |
4.758 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.576 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.053 |
3.836 |
5.334 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
4.325 |
4.792 |
|
Total
borrowings |
0.000 |
4.325 |
4.792 |
|
Debt/Equity
ratio |
0.000 |
1.127 |
0.898 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
0.000 |
63.197 |
90.251 |
|
|
|
0.00 |
42.809 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
0.000 |
63.197 |
90.251 |
|
Profit |
(0.007) |
0.404 |
0.578 |
|
|
0.00% |
0.64% |
0.64% |
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 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 |
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 |
No |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 |
TRADE REFERENCES
- Chitan
Gems BVBA, Belgium
- Shruti
Diam, Dubai
|
Reference |
Gabani Damond |
|
Name of The
Person: |
Mr. Mitul Bahi |
|
Contact Number: |
91-9879016116 |
|
Since How Long
Know : |
6 |
|
Experience: |
Very Good (The providing regular supply o proper time to the customer
satisfactory track) |
|
Maximum Limited
Dealt: |
Rs.30.000 Millions |
|
Reference |
D Vipul and
Company |
|
Name of The
Person: |
Mr. Dinesh (Partner) |
|
Contact Number: |
91-9427810978 |
|
Since How Long
Know : |
4 |
|
Experience: |
Very Good (The company having satisfactory tracks) |
|
Maximum Limited
Dealt: |
Rs.5.000 Millions |
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.61.55 |
|
|
1 |
Rs.97.53 |
|
Euro |
1 |
Rs.76.48 |
INFORMATION DETAILS
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Information
Gathered by : |
GYT |
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NTH / VNT |
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 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
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TOTAL |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.