MIRA INFORM REPORT
|
Report No. : |
316907 |
|
Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAGAR BUSINESS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kailash Bhavan Near Triveni Apartment, Boring Road, Patna – 800001,
Bihar |
|
Tel. No.: |
91-612-6531038 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.07.1983 |
|
|
|
|
Com. Reg. No.: |
03-001851 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.220 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104BR1983PTC001851 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS5529Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Distributor of TMT Reinforcement Bars, Hollow Pipes,
and Corrugated Sheets. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 |
|
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|
|
Comments : |
Subject is an established company having moderate track record. External borrowings of the company seems to be increasing as compared
to previous year. Profitability of the company also seems to be low. The rating takes into consideration highly fragmented industry marked by
intense competition and low operating margins. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some
cautions. NOTE: The partial
information are gathered from indirect source i.e., CRISIL. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating=BB- |
|
Rating Explanation |
Have inadequate credit quality and carry
high credit risk. |
|
Date |
04.03.2015 |
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. Sunil |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9748752452 |
|
Date : |
11.04.2015 |
LOCATIONS
|
Registered Office : |
Kailash Bhavan Near Triveni Apartment, Boring Road, Patna – 800001,
Bihar |
|
Tel. No.: |
91-612-6531038 |
|
Mobile No.: |
91-9748752452 (Mr. Sunil) |
|
Fax No.: |
91-612-2530400 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Poddar Point, 10th
Floor, 113, Park Street, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91-33-22293903 |
|
Fax No.: |
91-33-22494997 |
|
|
|
|
Yard : |
Badapokhari,
Bhagatput, Via - Kotasahi (Tangi), OCL Kapilas Manufacturing Works Approach
Road, Cuttack – 754022, Odisha, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Raj Kumar Kishorepuria |
|
Designation : |
Director |
|
Address : |
3, Hungerford Street, Kolkata – 700017, West Bengal, India |
|
Date of Appointment : |
01.12.2008 |
|
DIN No.: |
00711760 |
|
|
|
|
Name : |
Mr. Sunil Kishorepuria |
|
Designation : |
Director |
|
Address : |
3, Hungerford Street, 2nd Floor, Kolkata – 700017, West Bengal, India |
|
Date of Appointment : |
01.12.2008 |
|
DIN No.: |
00724364 |
KEY EXECUTIVES
|
Name : |
Mr. Shyam Ghosh |
|
Designation : |
Admin Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Anil Kishorepuria |
|
48000 |
|
Anubhuti Vanijya Private Limited |
|
16000 |
|
Aruna Traders Private Limited |
|
16500 |
|
BFL Private Limited |
|
249800 |
|
Contessa Commercial Co. Private Limited |
|
250000 |
|
Ganaesh Ram Dokania |
|
100 |
|
Girdhari Jha |
|
100 |
|
Glorious Holdings Private Limited |
|
20000 |
|
Grower Distributors Private Limited |
|
15000 |
|
Kirti Tracon Private Limited |
|
15000 |
|
KSL Resources Private Limited |
|
166400 |
|
MKP Fashion |
|
50000 |
|
Moti Ram Dokania |
|
100 |
|
Nirmala Devi Kishorepuria |
|
66300 |
|
Raj Kumar Kishorepuria |
|
255555 |
|
Raj KumarI Tibrewal |
|
100 |
|
Sajjan Kumar Kishorepuria |
|
42000 |
|
Shradhajyoti Vanijya Private Limited |
|
17500 |
|
Shruti Kishorepuria |
|
20000 |
|
Sriyash Fashions Private Limited |
|
19000 |
|
SRM Private Limited |
|
250800 |
|
Sunil Kishorepuria |
|
342650 |
|
Sriram delcom Private Limited |
|
40000 |
|
Sukanaya Vyapar Private Limited |
|
80000 |
|
Thakur Kamkhya Prasad Singh |
|
100 |
|
Raj Kumar kishorepuria (HUF) |
|
20000 |
|
Sajjan Kumar kishorepuria (HUF) |
|
16000 |
|
Radha kishorepuria |
|
20000 |
|
Binod kumar kishorepuria (HUF) |
|
18000 |
|
Binod kumar kishorepuria |
|
48000 |
|
Ridhi Sidhi Fincon Pvt Ltd. |
|
281000 |
|
Bijay Kumar Kishorepuria |
|
50000 |
|
Shiv Kumar Kishorepuria |
|
88000 |
|
|
|
|
|
Total |
|
2522005 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
60.00 |
|
Directors or relatives of Directors |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Distributor of TMT Reinforcement Bars, Hollow
Pipes, and Corrugated Sheets. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai – 400001, Maharashtra, India |
|
|
|
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Auditors : |
|
|
Name : |
A. K. Salampuria and Associates Chartered Accountants |
|
Address : |
1st Floor, Above Mica Sales, Near Chankya Cinema, Exhibition Road, Patna – 800001, Bihar, India |
|
PAN No.: |
AAFFA1003L |
|
|
|
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Collaborators : |
Not Divulged |
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|
|
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Membership : |
Not Divulged |
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|
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Associates : |
· BFL Private Limited · BMW Ventures Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2522005 |
Equity Shares |
Rs.10/- each |
Rs.25.220 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 |
25.220 |
24.520 |
15.000 |
|
(b) Reserves & Surplus |
118.900 |
105.274 |
61.533 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
6.000 |
0.000 |
26.400 |
|
Total
Shareholders’ Funds (1) + (2) |
150.120 |
129.794 |
102.933 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
75.098 |
41.666 |
9.196 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.051 |
0.144 |
|
(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) |
75.098 |
41.717 |
9.340 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
399.377 |
359.644 |
242.168 |
|
(b) Trade
payables |
17.571 |
12.798 |
32.470 |
|
(c) Other
current liabilities |
6.908 |
9.682 |
2.971 |
|
(d) Short-term
provisions |
5.672 |
4.129 |
1.557 |
|
Total Current
Liabilities (4) |
429.528 |
386.253 |
279.166 |
|
|
|
|
|
|
TOTAL |
654.746 |
557.764 |
391.439 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
41.703 |
49.510 |
14.202 |
|
(ii)
Intangible Assets |
0.007 |
0.012 |
0.019 |
|
(iii)
Capital work-in-progress |
35.826 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.868 |
0.756 |
0.200 |
|
(c) Deferred tax assets (net) |
4.846 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.426 |
1.054 |
0.744 |
|
(e) Other
Non-current assets |
0.063 |
0.108 |
0.140 |
|
Total Non-Current
Assets |
86.739 |
51.440 |
15.305 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
117.832 |
104.331 |
33.608 |
|
(c) Trade
receivables |
331.534 |
289.708 |
274.898 |
|
(d) Cash
and cash equivalents |
52.044 |
74.570 |
56.234 |
|
(e)
Short-term loans and advances |
66.597 |
37.715 |
11.394 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
568.007 |
506.324 |
376.134 |
|
|
|
|
|
|
TOTAL |
654.746 |
557.764 |
391.439 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.286 |
11.695 |
7.521 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.180 |
3.555 |
2.041 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
9.106 |
8.140 |
5.480 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.720) |
2.479 |
1.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
10.826 |
5.661 |
3.772 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.29 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
1.49 |
1.46 |
1.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.06 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.16 |
3.09 |
2.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.31 |
1.35 |
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 |
15.000 |
24.520 |
25.220 |
|
Reserves & Surplus |
61.533 |
105.274 |
118.900 |
|
Share Application money pending
allotment |
26.400 |
0.000 |
6.000 |
|
Net
worth |
102.933 |
129.794 |
150.120 |
|
|
|
|
|
|
long-term borrowings |
9.196 |
41.666 |
75.098 |
|
Short term borrowings |
242.168 |
359.644 |
399.377 |
|
Total
borrowings |
251.364 |
401.310 |
474.475 |
|
Debt/Equity
ratio |
2.442 |
3.092 |
3.161 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office
address of the company has been shifted from 113, Triveni Apartment, East
Boring Canal Road, Patna – 800001, Bihar, India to the present address w.e.f.
01.01.2009
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Rupee term loans from others |
60.800 |
28.350 |
|
Loans and advances from related parties |
3.225 |
6.350 |
|
|
|
|
|
Total |
64.025 |
34.700 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10432024 |
25/04/2014 * |
235,000,000.00 |
Tata Capital Financial Services Limited |
One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, Maharashtra - 400001, India |
C04763025 |
|
2 |
10406022 |
31/01/2013 |
1,123,819.00 |
Tata Capital Financial Services Limited |
One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, Maharashtra - 400001, India |
B68913698 |
|
3 |
10406458 |
02/01/2013 |
90,000,000.00 |
Bank of Baroda |
Patna Main Branch, Fraser Road, Patna, Bihar - 800001, India |
B68984251 |
|
4 |
10147662 |
07/07/2014 * |
185,131,000.00 |
Bank of Baroda |
Patna Main Branch, Fraser Road, Patna, Bihar - 800001, India |
C36014900 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.62.37 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
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 |
|
27 |
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.