MIRA INFORM REPORT

 

 

Report No. :

316210

Report Date :

08.04.2015

 

IDENTIFICATION DETAILS

 

Name :

KARNATAKA PLASCOM ENGINEERS PRIVATE LIMITED

 

 

Registered Office :

No.438, 2nd Floor, 18th Main, 6th Block Koramangala, Bangalore – 560095, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.11.1987

 

 

Com. Reg. No.:

08-008754

 

 

Capital Investment / Paid-up Capital :

Rs. 2.000 Million

 

 

CIN No.:

[Company Identification No.]

U85110KA1987PTC008754

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Injection Moulding Products, Automotive Injection Moulding Part-Bottom, etc.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 580000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Management has reported good profitability for the financial year 2013-14.

 

Further, the company operates on its owned funds. It possesses debt-free balance sheet and strong liquidity position.

 

Overall financial position seems to be sound.

 

Trade relations are fair. Business is active. Payments are reported to be usually correct.

 

The company can be considered 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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. Sandeep Agarwal

Designation :

Director

Contact No.:

91-9900158627

Date :

06.04.2015

 

 

LOCATIONS

 

Registered Office :

No.438, 2nd Floor, 18th Main, 6th Block Koramangala, Bangalore – 560095, Karnataka, India

Tel. No. :

91-80-25503676

Mobile No. :

91-9900158627 (Mr. Sandeep Agarwal)

Fax No. :

Not Available

E-Mail :

plascomaccounts@yahoo.com

Area :

1000 Sq. Ft.

Location :

Owned

 

 

Factory :

No. 235-T, 3rd Phase, Bommasandra Industrial Area, Hosur Road, Bangalore - 560099, Karnataka, India

Tel. No.:

91-80-27832567

 

 

DIRECTORS

 

As on 24.09.2014

 

Name :

Mr. Sandeep Agarwal

Designation :

Director

Address :

No. 880, 6th Cross, 6th Block, Koramangala, Bangalore – 560095, Karnataka, India

Date of Birth/Age :

06.05.1976

Date of Appointment :

26.11.1987

DIN No. :

00283237

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U85110KA1987PTC008754

KARNATAKA PLASCOM ENGINEERS PRIVATE LIMITED

Director

26-11-1987

26-11-1987

Active

NO

2

U85110KA1995PLC017756

AUROTECH ENGINEERS LIMITED

Director

04-11-1999

04-11-1999

Converted to LLP and dissolved

NO

3

U45201KA2001PTC029874

AURO BUILDERS PRIVATE LIMITED

Director

20-12-2001

20-12-2001

Active

NO

4

AAC-8451

AUROTECH ENGINEERS LLP

Designated Partner

24-10-2014

24-10-2014

Active

NO

 

 

Name :

Shyam Agarwal

Designation :

Director

Address :

No. 880, 6th Cross, 6th Block, Koramangala, Bangalore – 560095, Karnataka, India

Date of Birth/Age :

27.12.1947

Date of Appointment :

26.11.1987

DIN No. :

00283295

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U85110KA1987PTC008754

KARNATAKA PLASCOM ENGINEERS PRIVATE LIMITED

Director

26-11-1987

26-11-1987

Active

NO

2

U85110KA1995PLC017756

AUROTECH ENGINEERS LIMITED

Director

05-05-1995

05-05-1995

Converted to LLP and dissolved

NO

3

U45201KA2001PTC029874

AURO BUILDERS PRIVATE LIMITED

Director

20-12-2001

20-12-2001

Active

NO

4

AAC-8451

AUROTECH ENGINEERS LLP

Designated Partner

24-10-2014

24-10-2014

Active

NO

 

 

Name :

Sulochana Agarwal

Designation :

Director

Address :

No. 880, 6th Cross, 6th Block, Koramangala, Bangalore – 560095, Karnataka, India

Date of Birth/Age :

16.01.1950

Date of Appointment :

30.09.2009

DIN No. :

02685452

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U85110KA1987PTC008754

KARNATAKA PLASCOM ENGINEERS PRIVATE LIMITED

Director

30-09-2009

01-06-2009

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 24.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

Shyam Agarwal

7565

37.83

Shyam Agarwal (HUF)

360

1.80

Sulochana Agarwal

100

0.50

Sandeep Agarwal

11875

59.38

Neelam Agarwal

100

0.50

Total

20000

100.00

 

 

 

As on 24.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Injection Moulding Products, Automotive Injection Moulding Part-Bottom, etc.

 

 

Products :

·         Injection Moulding Products

·         Automotive Injection Moulding Part-Bottom

·         Mudguard Rear, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash, Cheque and Credit (30 Days/ 60 Days/ 90 Days)

 

 

Purchasing :

Cash, Cheque and Credit (30 Days/ 60 Days/ 90 Days)

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

Customers :

OEMs and End Users

 

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Bank Name:

The Karur Vysya Bank Limited

46, 100 Feet Road, 6 Block, 6 Cross, Koramangala, Bangalore - 560034,

Karnataka, India

Branch:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Cash Credit: Rs. 9.000 Millions

Account Operation:

Not Divulged

Remarks: Not Divulged

 

 

Facilities :

--

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ganeriwala and Company

Chartered Accountants

Address :

No. 437-438, 2nd Floor, Alankar Pearl Plaza, K G Road, Bangalore – 560009, Karnataka, India

Income-tax PAN of auditor or auditor's firm :

AAIFG4147J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Related Parties :

·         Mor Plastic Industries

·         Mor Charitable Trust

 

 

CAPITAL STRUCTURE

 

As on 24.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20,000

Equity Shares

Rs.100/- each

Rs. 2.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20,000

Equity Shares

Rs.100/- each

Rs. 2.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2.000

2.000

2.000

(b) Reserves & Surplus

201.024

167.946

140.924

(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)

203.024

169.946

142.924

 

 

 

 

(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

5.467

0.840

0.574

(d) long-term provisions

0.421

0.000

0.000

Total Non-current Liabilities (3)

5.888

0.840

0.574

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

9.115

(b) Trade payables

24.354

17.135

6.929

(c) Other current liabilities

9.282

11.058

6.792

(d) Short-term provisions

0.234

0.256

0.294

Total Current Liabilities (4)

33.870

28.449

23.130

 

 

 

 

TOTAL

242.782

199.235

166.628

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

49.517

29.196

25.746

(ii) Intangible Assets

0.005

0.008

0.013

(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

15.434

1.591

1.591

(c) Deferred tax assets (net)

2.485

3.105

0.000

(d)  Long-term Loan and Advances

5.279

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

72.720

33.900

27.350

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

27.203

50.976

55.678

(c) Trade receivables

71.925

45.657

49.036

(d) Cash and cash equivalents

63.629

60.341

25.064

(e) Short-term loans and advances

7.305

8.361

6.964

(f) Other current assets

0.000

0.000

2.536

Total Current Assets

170.062

165.335

139.278

 

 

 

 

TOTAL

242.782

199.235

166.628

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

320.683

293.588

392.503

 

 

Other Income

12.470

4.863

3.039

 

 

TOTAL                                    

333.153

298.451

395.542

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

285.186

257.867

337.349

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX 

47.967

40.584

58.193

 

 

 

 

 

Less

TAX                                                                 

14.655

13.329

19.182

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

33.312

27.255

39.011

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1665.62

1362.77

1950.55

 

Expected Sales (2014-2015): Rs. 400.000 Millions

 

The above information has been parted by Mr. Sandeep Agarwal (Director).

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

10.39

9.28

9.94

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

21.33

20.86

35.26

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.24

0.41

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.00

0.00

0.06

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

5.02

5.81

6.02

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

2.000

2.000

2.000

Reserves & Surplus

140.924

167.946

201.024

Net worth

142.924

169.946

203.024

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

9.115

0.000

0.000

Total borrowings

9.115

0.000

0.000

Debt/Equity ratio

0.064

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

392.503

293.588

320.683

 

 

(25.201)

9.229

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

392.503

293.588

320.683

Profit

39.011

27.255

33.312

 

9.94%

9.28%

10.39%

 

 

 

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

Yes

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

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

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

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10205154

12/03/2007

9,000,000.00

THE KARUR VYSYA BANK LIMITED

46, 100 FEET ROAD, 6 BLOCK, 6 CROSS, KORAMANGALA, BANGALORE, KARNATAKA - 560034, INDIA

A33573783

2

90195262

02/12/1995 *

6,500,000.00

KARUR VYSYA BANK LIMITED

NO 25 J.C. ROAD, BANGALORE, KARNATAKA - 560002, INDIA

-

3

90193901

29/04/1995

2,000,000.00

THE KARUR VYSYA BANK LTD

NO 25 J.C. ROAD, BANGALORE, KARNATAKA, INDIA

-

4

90195250

30/11/1995 *

2,000,000.00

KARUR VYSYA BANK LIMITED

25 J.C. ROAD, BANGALORE, KARNATAKA - 560002, INDIA

-

5

90195031

27/03/1991

410,000.00

KARNATAKA STATE FINANCIAL CO.

NO 25 M.G. ROAD, BANGALORE, KARNATAKA - 560001, IN 
DIA

-

6

90194972

15/03/1990

680,000.00

KARNATAKA STATE FINANCIAL CO.

NO 25 M.G. ROAD, BANGALORE, KARNATAKA - 560001, INDIA

-

7

90194866

14/09/1989 *

3,100,000.00

KARNATAKA STATE FINANCIAL CO.

M.G. ROAD, BANGALORE, KARNATAKA - 560002, INDIA

-

 

* Date of charge modification

 

 

PERFORMANCE

 

The company being original equipment supplier to two wheeler manufacturer, benefited from increased demand of two wheelers. In Order to increase stagnant sales, after a lot of effort management added the new customers thereby increasing sales and de-risking the depency on existing customers. The future growth potential of the company is linked to the performance of two wheeler sector as a whole. The efforts to reduce cost and improve productivity also resulted in higher margin of profit as is evident from the above financial results.

 

 

FIXED ASSETS

 

Tangible Assets

·         Land at Bommasandra

·         Land at Malur

·         Building

·         Plant and Machinery

·         Generator

·         Cranes

·         Power Installation

·         Moulds

·         Pumpset

·         Tools

·         Electrical and Furniture Fittings

·         Electrical Installation

·         Office Equipment

·         Computer

·         Motor Cars

·         Mopeds and Scooter

·         Air Conditioner

·         Panel Board

·         Transformers

·         Crates

·         Trolley

 

Intangible Assets

·         Software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.62.33

UK Pound

1

Rs.92.83

Euro

1

Rs.68.08

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

SUC

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

5

--CREDIT LINES

1~10

6

--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

 

47

 

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

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NB

                                       New Business

 

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PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.