MIRA INFORM REPORT

 

 

Report No. :

317466

Report Date :

17.04.2015

 

IDENTIFICATION DETAILS

 

Name :

FLUTECH INTERIORS INDIA PRIVATE LIMITED

 

 

Registered Office :

No. 57/A, First Floor, 5th Main, Behind Leela Palace, Kodihalli, Old Airport Road, Bangalore – 560008, Karnataka

 

 

Tel. No.:

91-80-41573968

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

06.08.2007

 

 

Com. Reg. No.:

11-043549

 

 

Capital Investment / Paid-up Capital :

Rs. 2.400 Million

 

 

CIN No.:

[Company Identification No.]

U74994KA2007PTC043549

 

 

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 :

Subject is in the business of Interior decoration and works contract.

 

 

No. of Employees :

45 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 10520000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The rating reflects company sound financial risk profile marked by decent net worth and fair profitability of the company.

 

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

 

The company can be considered normal 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 (GENERAL DETAILS)

 

Name :

Mr. Mahesh

Designation :

Chief Financial Officer

Contact No.:

91-80-41573968

Date :

14.04.2015

 

 

LOCATIONS

 

Registered Office :

No. 57/A, First Floor, 5th Main, Behind Leela Palace, Kodihalli, Old Airport Road, Bangalore – 560008, Karnataka, India

Tel. No. :

91-80-41573968/ 3969

Fax No. :

91-80-41573937

E-Mail :

svbhat1975@gmail.com

info@flutechinteriors.com

flutechinteriors@airtelmail.in

Website :

www.flutechinteriors.com

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Subramanya Venkataramanya Bhat

Designation :

Managing Director

Address :

No. 626, 4th B Main, Omber Layout, Banaswadi, Bangalore – 560043, Karnataka, India

Date of Birth/Age :

11.05.1967

Qualification :

Diploma

Experience :

20 Years

Date of Appointment :

01.04.2010

DIN No. :

01652822

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U74994KA2007PTC043549

FLUTECH INTERIORS INDIA PRIVATE LIMITED

Managing director

01-04-2010

06-08-2007

-

Active

NO

2

U45201KA2010PTC053949

EARTHLINKS INFRA PRIVATE LIMITED

Director

04-06-2010

04-06-2010

-

Active

NO

3

U29253KA2010PTC054098

FLUTECH ENGINEERING PRIVATE LIMITED

Director

17-06-2010

17-06-2010

-

Active

NO

4

U52190KA2013PTC071858

QUSEC RETAIL VENTURES PRIVATE LIMITED

Director

13-11-2013

13-11-2013

11-06-2014

Active

NO

 

 

Name :

Mr. Suresh Poojary Narayan

Designation :

Whole-time Director

Address :

No. 79, 5th Main, 5th Cross, Behind Leela Palace, Kodihalli, Bangalore – 560038, Karnataka, India

Date of Birth/Age :

20.07.1971

Date of Appointment :

01.04.2010

DIN No. :

02437534

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

U74994KA2007PTC043549

FLUTECH INTERIORS INDIA PRIVATE LIMITED

Whole-time director

01-04-2010

08-12-2008

Active

NO

 

 

Name :

Ashwini Subramanya Venkataramana

Designation :

Director

Address :

No. 319, 6th B Cross, OMBR Layout, Banasawadi Post, Bangalore – 560043, Karnataka, India

Date of Birth/Age :

20.05.1976

Date of Appointment :

30.09.2010

DIN No. :

02779261

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

U74994KA2007PTC043549

FLUTECH INTERIORS INDIA PRIVATE LIMITED

Director

30-09-2010

18-11-2009

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Mahesh

Designation :

Chief Financial Officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

Subramanya Venkataramanya Bhat

204000

85.00

Suresh Narayan Poojary

6000

2.50

Ashwini Subramanya Venkataramana

20000

8.33

Shambhavi L. Bhat

5000

2.08

Mukambike

5000

2.08

Total

240000

100.00

 

 

As on 29.09.2014

 

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 :

Subject is in the business of Interior decoration and works contract.

 

 

Brand Names :

 

 

 

Agencies Held :

 

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Karnataka Wood and Board, Karnataka

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 :

Retailers and End Users

 

Reference:

Lenovo India Private Limited, Bangalore

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 :

45 (Approximately)

 

 

Bankers :

Bank Name:

Yes Bank Limited

Branch:

Kasturba Road, Bangalore, Karnataka, India

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):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

·         Dhanalakshmi Bank Limited, No. 13, Kasturba Road, Bangalore, Bangalore - 560001, Karnataka, India

 

·         State Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Vehicle Loan from Dhanalakshmi Bank Limited

(Hypothecated against Vehicle)

0.000

0.378

 

 

 

SHORT TERM BORROWINGS

 

 

Cash Credit facility with Dhanalakshmi Bank Limited

(Hypothecation against stock and debtors)

20.857

23.752

Total

20.857

24.130

 

NOTE

 

SHORT TERM BORROWINGS

 

CC facility availed from Dhanlaxmi Bank Limited consists of Rs. 40.000 Million of Cash Credit and Rs. 10.000 Million of Bank Guarantee. Facility is secured by hypothecation of stock with margin of 25% and receivables with 40% margin and EM of vacant site Sy. No. 335/1, Muthanalluru Ammanikere Village, Sarjapura Hobli, Anekal Taluk, Bangalore urban to an extent of OA-39 guntas. EM of Villa No. 80, Bellezea villa project, Narayanagatha Village, Sarjapur Hobli, Anekal Taluk, Bangalore urban district.

 

Personal guarantee of the shareholders

 

Banking Relations :

--

 

 

Auditors :

 

Name :

M. K. Bagrecha and Associates

Chartered Accountants

Address :

Flat No.G5, Sriharinivas Arcade, 14, Sameerpura Main Road. KG Nagar, Bangalore – 560018, Karnataka, India

Mob. No.:

91-9900003365

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

AGOPB7802M

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Entity Controlled by relative of KMP :

·         Feasible Design

·         Profusion Services India Private Limited

 

 

Associates/Subsidiaries :

·         Flutech Electricals

·         Flutech Aircon

·         Flutech Engineering Private Limited

 

 

CAPITAL STRUCTURE

 

As on 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250,000

Equity Shares

Rs.10/- each

Rs. 2.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

240,000

Equity Shares

Rs.10/- each

Rs. 2.400 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

2.400

2.400

2.400

(b) Reserves & Surplus

34.421

26.318

19.744

(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)

36.821

28.718

22.144

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term Borrowings

0.000

1.276

3.754

(b) Deferred Tax Liabilities (Net)

0.000

0.000

0.037

(c) Other Long Term Liabilities

0.000

0.422

0.403

(d) Long-term Provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.000

1.698

4.194

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term Borrowings

21.557

25.356

28.297

(b) Trade Payables

15.625

15.388

5.422

(c) Other Current Liabilities

8.034

6.533

4.427

(d) Short-term Provisions

3.995

3.322

3.033

Total Current Liabilities (4)

49.211

50.599

41.179

 

 

 

 

TOTAL

86.032

81.015

67.517

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-Current Assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible Assets

1.347

1.558

2.068

(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

0.000

0.000

0.001

(c) Deferred Tax Assets (net)

0.048

0.018

0.000

(d)  Long-term Loan and Advances

11.270

6.153

0.450

(e) Other Non-Current Assets

9.773

0.708

0.000

Total Non-Current Assets

22.438

8.437

2.519

 

 

 

 

(2) Current Assets

 

 

 

(a) Current Investments

0.000

0.000

0.000

(b) Inventories

23.751

27.991

20.859

(c) Trade Receivables

20.119

25.662

27.185

(d) Cash and Cash Equivalents

2.964

2.798

3.080

(e) Short-term Loans and Advances

0.000

0.000

0.000

(f) Other Current Assets

16.760

16.127

13.874

Total Current Assets

63.594

72.578

64.998

 

 

 

 

TOTAL

86.032

81.015

67.517

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                    

189.290

155.816

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

177.225

(Including Depreciation)

145.974

(Including Depreciation)

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

 

 

10.266

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

 

0.758

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

12.065

9.842

9.508

 

 

 

 

 

Less

TAX                                                                 

3.963

3.268

2.978

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

8.102

6.574

6.530

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

33.76

27.39

27.20

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

14.03

12.15

14.08

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.33

0.34

0.43

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.59

0.93

1.45

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.29

1.43

1.58

 

 

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

2.400

2.400

2.400

Reserves & Surplus

19.744

26.318

34.421

Net worth

22.144

28.718

36.821

 

 

 

 

Long-term Borrowings

3.754

1.276

0.000

Short-term Borrowings

28.297

25.356

21.557

Total borrowings

32.051

26.632

21.557

Debt/Equity ratio

1.447

0.927

0.585

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Income

155.816

189.290

 

 

21.483

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

155.816

189.290

Profit

6.574

8.102

 

4.22%

4.28%

 

 

 

 

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 two 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

Yes

18]

Major customers

Yes

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

10553104

28/11/2014

56,500,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. 
ANNIE BESANT ROAD, WORLI, MUMBAI - 
400018, MAHARASHTRA, INDIA

C45629177

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Business loan from Religare Finvest Limited

0.000

0.898

 

 

 

SHORT TERM BORROWINGS

 

 

From Related Parties

S. V. Bhat

0.700

1.604

Total

0.700

2.502

 

 

CORPORATE INFORMATION

 

Subject was incorporated on 06/08/2007 with it’s registered office at Bangalore, India. The company in the business of Interior decoration and works contract.

 

 

CHANGE OF ADDRESS

 

The registered office of the company has been shifted from No. 79, 5th Main, 5th Cross, Behind Leela Palace, Kodihalli, Bangalore – 560038, Karnataka, India to the present address w.e.f. 17.06.2010.

 

 

COMPANY PERFORMANCE

 

The company has made an incredible progress during the financial year through registered a growth rate of 21.48%.

 

For the efforts made by the management staff and marketing team. Company has registered a net profit after tax of Rs. 8.102 Million as compared to Rs. 6.574 Million in the previous year.

 

The directors expect that the performance of the company during the current financial year would improve as estimated.

 

 

FIXED ASSETS

 

·         Computer and Printer

·         Furniture and Fixtures

·         Office Equipment

·         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.92.44

Euro

1

Rs.66.56

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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.