MIRA INFORM REPORT
|
Report No. : |
317848 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATION OF MUTUAL FUNDS IN INDIA |
|
|
|
|
Registered
Office : |
One Indiabulls Centre, Tower 2, Wing B 701, 7th Floor, 841,
S B Marg, Elphinstone Road, Mumbai - 400013, Maharashtra |
|
Tel. No.: |
91-22-24210093 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.08.1995 |
|
|
|
|
Com. Reg. No.: |
11-092062 |
|
|
|
|
Corpus:: |
Rs. 371.767 Million
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U65991MH1995NPL092062 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA16206B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA5550A |
|
|
|
|
Legal Form : |
Association |
|
|
|
|
Line of Business
: |
Non Profit Making Association for Mutual Funds. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is the apex body of all the registered Asset Management Companies.
As of now, all the 44 Asset Management Companies that are registered with
SEBI, are its members. It recommends and promotes best business practices and code of conduct
to be followed by members and other engaged in the activities of mutual fund
and asset management including agencies connected or involved in the field of
capital markets and financial services. It is a well-established non-profit organisation having a fine track
record. Trade relations are reported as fair. Business is active. Payment
terms are regular and as per commitment. The entity can be considered good 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 DECLINED BY
|
Name : |
Mr. Sanjay Gontale |
|
Designation : |
VP In Admin and Account |
|
Contact No.: |
91-22-24210093 |
|
Date : |
17.04.2015 |
LOCATIONS
|
Registered Office : |
One Indiabulls Centre, Tower 2, Wing B 701, 7th Floor, 841,
S B Marg, Elphinstone Road, Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24210093 / 24210383 / 43346700 |
|
Fax No.: |
91-22-43346712 / 43346722 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 15.09.2014
|
Name : |
Mr. Balasubramanian Athmanathan |
|
Designation : |
Director |
|
Address : |
501, 14 Union Park, Trilok Kapoor Marg, S T Road, Chembur,
Mumbai-400071, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1966 |
|
Date of Appointment : |
05.11.2009 |
|
DIN No.: |
02928193 |
|
|
|
|
Name : |
Mr. Saurabh Manoj Nanavati |
|
Designation : |
Director |
|
Address : |
B3/4, 535, Meghdoot Linking Road, Khar, Mumbai-400052, Maharashtra,
India |
|
Date of Birth/Age : |
03.12.1973 |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
02473929 |
|
|
|
|
Name : |
Ms. Ashu Suyash |
|
Designation : |
Director |
|
Address : |
Flat No.214, Tower B Kalpataru Horizon Society, S K Ahire Marg, Worli,
Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
02.02.1967 |
|
Date of Appointment : |
03.02.2011 |
|
DIN No.: |
00494515 |
|
|
|
|
Name : |
Mr. Milind Gajanan Barve |
|
Designation : |
Director |
|
Address : |
303, The Imperial, B B Nakashe Road, Tardeo, Mumbai – 400034,
Maharashtra, India |
|
Date of Birth/Age : |
14.11.1957 |
|
Date of Appointment : |
03.06.2003 |
|
DIN No.: |
00087839 |
|
|
|
|
Name : |
Mr. Sundeep Sikka |
|
Designation : |
Director |
|
Address : |
C-2301, 23/24, Tower 1, Ashok Garden, Tokersey Jivraj Road, Swan Mils Compound,
Sewree, Mumbai – 400015, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1972 |
|
Date of Appointment : |
24.04.2009 |
|
DIN No.: |
02553654 |
|
|
|
|
Name : |
Mr. Naganath Sundaresan |
|
Designation : |
Director |
|
Address : |
1803-B, Wing B, Chaitanya Towers, Prabhadevi, Mumbai-400025,
Maharashtra, India |
|
Date of Birth/Age : |
01.08.1954 |
|
Date of Appointment : |
16.06.2006 |
|
DIN No.: |
01005246 |
|
|
|
|
Name : |
Mr. Nimesh Vipinbabu Shah |
|
Designation : |
Director |
|
Address : |
Aman 136, N s Manlkar Marg, Sion, Mumbai-400022, Maharashtra, India |
|
Date of Birth/Age : |
17.09.1970 |
|
Date of Appointment : |
10.03.2008 |
|
DIN No.: |
01709631 |
|
|
|
|
Name : |
Mr. Harshendu Damodar Bindal |
|
Designation : |
Director |
|
Address : |
Unit No.52 and 62, 3rd and 4th Floor, Pali Hill, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1971 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
05101238 |
|
|
|
|
Name : |
Mr. Nandkumar Surti |
|
Designation : |
Director |
|
Address : |
2402, Light Bridge CHS Limited, Hiranandani Meadows, Thane(West),
Mumbai-400610, Maharashtra, India |
|
Date of Birth/Age : |
04.05.1969 |
|
Date of Appointment : |
11.04.2012 |
|
DIN No.: |
05158846 |
|
|
|
|
Name : |
Mr. Vikas M Sachdeva |
|
Designation : |
Director |
|
Address : |
502, 5th Floor, Triveni Building, Suchidham Film City Road, Goregaon
(East), Mumbai-400063, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1969 |
|
Date of Appointment : |
16.07.2012 |
|
DIN No.: |
05276339 |
|
|
|
|
Name : |
Mr. Arvind Seth |
|
Designation : |
Director |
|
Address : |
02GFA, Court Green, The Laburnum, Sushant Lok – 1, Sector – 28,
Gurgaon - 122002 |
|
Date of Birth/Age : |
12.08.1957 |
|
Date of Appointment : |
16.04.2013 |
|
DIN No.: |
00001565 |
|
|
|
|
Name : |
Mr. Jimmy Aspi Patel |
|
Designation : |
Director |
|
Address : |
Terrace, No. – G-101, 1st Floor, Dhobi Tatao, Mumbai –
400002, Maharashtra, India |
|
Date of Birth/Age : |
18.08.1967 |
|
Date of Appointment : |
25.09.2013 |
|
DIN No.: |
00109211 |
|
|
|
|
Name : |
Mr. Ashish Pradip Somaiya |
|
Designation : |
Director |
|
Address : |
Flat No. 2, Ground Floor, Lilian Apartments 73, Ambedkar Road, Khar –
West, Mumbai – 40002, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1976 |
|
Date of Appointment : |
25.09.2013 |
|
DIN No.: |
06705119 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Gontale |
|
Designation : |
VP In Admin and Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Non Profit Making Association for Mutual Funds. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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||||||||||||||||||||||
|
Customers : |
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||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
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|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V Sankar Aiyar and Company Chartered Accountants |
|
Address : |
2-C, Court Chambers, 35, New Marine Lines, Mumbai-400020, Maharashtra,
India |
|
Tel. No.: |
91-22-22004465 / 22067440 |
|
Fax No.: |
91-22-22000649 |
|
E-Mail : |
|
|
Website: |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFV0781D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 31.03.2014
|
Particulars |
Investor Awareness Programme Fund |
General Fund |
|
Entrance Fees |
0.000 |
16.176 |
|
Accumulated Surplus |
0.000 |
35.928 |
|
General reserves |
0.000 |
13.569 |
|
Investor Awareness Programme |
306.094 |
0.000 |
|
Total |
306.094 |
65.673 |
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) Corpus |
|
|
|
|
(a) Entrance Fees |
16.176 |
14.176 |
13.300 |
|
(b) Accumulated Surplus |
342.022 |
304.097 |
241.990 |
|
(c) General reserves |
13.569 |
13.569 |
13.569 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
371.767 |
331.842 |
268.859 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.805 |
0.623 |
0.631 |
|
Total
Non-current Liabilities (3) |
0.805 |
0.623 |
0.631 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current liabilities |
30.839 |
104.758 |
35.918 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
30.839 |
104.758 |
35.918 |
|
|
|
|
|
|
TOTAL |
403.411 |
437.223 |
305.408 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.307 |
5.691 |
6.429 |
|
(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 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.355 |
13.355 |
3.168 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
17.662 |
19.046 |
9.597 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
15.143 |
11.688 |
9.554 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
333.695 |
331.677 |
268.592 |
|
(e) Short-term loans and
advances |
16.662 |
61.812 |
7.238 |
|
(f) Other current assets |
20.249 |
13.000 |
10.427 |
|
Total
Current Assets |
385.749 |
418.177 |
295.811 |
|
|
|
|
|
|
TOTAL |
403.411 |
437.223 |
305.408 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
116.423 |
100.563 |
102.468 |
|
|
|
Other Income |
35.906 |
30.162 |
32.930 |
|
|
|
TOTAL |
152.329 |
130.725 |
135.398 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees Benefit Expenses |
18.950 |
16.922 |
16.195 |
|
|
|
Other Expenses |
1.443 |
50.900 |
35.230 |
|
|
|
Depreciation and Amortisation Expenses |
94.012 |
0.796 |
0.809 |
|
|
|
TOTAL |
114.405 |
68.618 |
52.234 |
|
|
|
|
|
|
|
|
|
EXCESS OF INCOME
OVER EXPENDITURE AVAILABLE FOR APPROPRIATION |
37.924 |
62.107 |
83.164 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.000 |
|
|
|
Interest on Investments from Ad-Campaign advanced transferred to
advance |
0.000 |
0.000 |
0.000 |
|
|
BALANCE TRANSFER
TO ACCUMULATED RESERVE |
37.924 |
62.107 |
82.164 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
12.51 |
3.99 |
8.24 |
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) |
|
Entrance Fees |
13.300 |
14.176 |
16.176 |
|
Accumulated Surplus |
241.990 |
304.097 |
342.022 |
|
General reserves |
13.569 |
13.569 |
13.569 |
|
Net
worth |
268.859 |
331.842 |
371.767 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
102.468 |
100.563 |
116.423 |
|
|
|
(1.859) |
15.771 |
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 |
102.468 |
100.563 |
116.423 |
|
Profit |
82.164 |
62.107 |
37.924 |
|
|
80.19% |
61.76% |
32.57% |
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 |
NOTE: Registered office of the company has been shifted from 706-708, Balarama Bandra Kural Complex, Bandra (East), Mumbai 400051, Maharashtra, India to the present address w.e.f. 18.10.2010.
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS
- Computer
- Office Equipments
- Motor Car
- Furniture
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.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
62 |
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.