MIRA INFORM REPORT
|
Report No. : |
318461 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESBEE ELECTROTECH LLP |
|
|
|
|
Registered
Office : |
Plot No. S-42/1, S-Block, MIDC, Bhosari, Pune - 411026, Maharashtra |
|
Tel. No.: |
91-20-30681002 / 6 / 46907300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.11.2012 |
|
|
|
|
Total Obligation of Contribution: |
Rs.1.000 Million |
|
|
|
|
LLPIN No.: |
AAB-2066 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
To carry on the business of manufacture of instruments, push button
actuators, motors and parts, contact block and its accessories and parts, and
to deal in or manufacture all types of electrical switches etc. |
|
|
|
|
No. of Employees
: |
60 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established during 14th August as a partnership
concern and later it has registered with ROC as a “Limited Liability
Partnership Concern” from 7th November, 2012. It is an established “Limited Liability Partnership Concern” having
satisfactory track. The LLP is progressing well. General financial position of the concern
is good. Mr. Rajendra [Account Manager] has provided all information. Trade
relations are fair. Business is active. Payments terms are usually correct. The “Limited Liability Partnership Concern” 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
|
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 PARTED BY
|
Name : |
Mr. Rajendra |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9923753359 |
|
Date : |
20.04.2015 |
LOCATIONS
|
Registered Office : |
Plot No. S-42/1, S-Block, MIDC, Bhosari, Pune – 411026, Maharashtra,
India |
|
Tel. No.: |
91-20-30681002 / 6 / 46907300 |
|
Mobile No. : |
91-9923753359 (Mr. Rajendra) |
|
Fax No.: |
91-20-30681007 |
|
E-Mail : |
accounts@esbee-electrotech.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
J-159, MIDC, Bhosari, Pune - 411026, Maharashtra, India |
|
Tel. No.: |
91-20-30681012/30681006/30681012 |
|
|
|
|
Branch Office : |
Located at Ahmednagar, Maharashtra, India |
PARTNERS
|
Name : |
Hemlata Sohan Chordiya |
|
Designation : |
Designated Partner |
|
Address : |
1102A/2B, “Sukhsagar, Model Colony”, Shivajinagar, Pune, Maharashtra,
India |
|
Date of Appointment : |
07.11.2012 |
|
DPIN No.: |
00025177 |
|
|
|
|
Name : |
Mr. Vijay Shantilal Chordiya |
|
Designation : |
Designated Partner |
|
Address : |
Bahar B 8, Abimanshri Society, Baner Road, Pashan, Pune, Maharashtra,
India |
|
Date of Appointment : |
07.11.2012 |
|
DPIN No.: |
03612829 |
|
|
|
|
Name : |
Ms. Abha Suresh Chordiya |
|
Designation : |
Partner |
|
Address : |
1102A/2B, “Sukhsagar, Model Colony”, Shivajinagar, Pune, Maharashtra,
India |
|
Date of Appointment : |
07.11.2012 |
|
PAN No.: |
AALPC5154E |
|
|
|
|
Name : |
Ms. Savita Shantilal Chordiya |
|
Designation : |
Partner |
|
Address : |
"Bahar" 8-B, Lane 4, Abhimanshree Co-Operative Housing
Society, Pashan, Pune – 411008, Maharashtra, India |
|
Date of Appointment : |
07.11.2012 |
|
PAN No.: |
AALPC5155F |
|
|
|
|
Name : |
Shantilal Bansilal Chordiya |
|
Designation : |
Partner |
|
Address : |
"Bahar" 8-B, Lane 4, Abhimanshree Co-Operative Housing
Society, Pashan, Pune – 411008, Maharashtra, India |
|
Date of Appointment : |
07.11.2012 |
|
PAN No.: |
AANPC6536A |
|
|
|
|
Name : |
Mr. Sohan Bansilal Chordiya |
|
Designation : |
Partner |
|
Address : |
1102A/2B, "Sukhsagar" , Model Colony, Shivajinagar, Pune –
411016, Maharashtra, India |
|
Date of Appointment : |
07.11.2012 |
|
PAN No.: |
AANPC6537B |
|
|
|
|
Name : |
Mr. Ajay Shantilal Chordiya |
|
Designation : |
Partner |
|
Address : |
"Bahar" 8-B, Lane 4, Abhimanshree Co-Operative Housing
Society, Pashan, Pune – 411008, Maharashtra, India |
|
Date of Appointment : |
07.11.2012 |
|
PAN No.: |
AARPC2521R |
|
|
|
|
Name : |
Mr. Suresh Bansilal Chordiya |
|
Designation : |
Partner |
|
Address : |
1102A/2B, "Sukhsagar" , Model Colony, Shivajinagar, Pune –
411016, Maharashtra, India |
|
Date of Appointment : |
07.11.2012 |
|
PAN No.: |
AAUPC4310K |
|
|
|
|
Name : |
Mr. Ojas Suresh Chordiya |
|
Designation : |
Partner |
|
Address : |
1102A/2B, "Sukhsagar" , Model Colony, Shivajinagar, Pune –
411016, Maharashtra, India |
|
Date of Appointment : |
07.11.2012 |
|
PAN No.: |
AEDPC6646R |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra |
|
Designation : |
Account Manager |
TOTAL OBLIGATION
OF CONTRIBUTION
TOTAL OBLIGATION OF
CONTRIBUTION
|
PARTICULARS |
|
OBLIGATION OF CONTRIBUTION [Rs. In Million] |
|
Hemlata Sohan Chordiya |
|
0.200 |
|
Vijay Shantilal Chordiya |
|
0.100 |
|
Abha Suresh Chordiya |
|
0.100 |
|
Savita Shantilal Chordiya |
|
0.050 |
|
Shantilal Bansilal Chordiya |
|
0.100 |
|
Sohan Bansilal Chordiya |
|
0.100 |
|
Ajay Shantilal Chordiya |
|
0.100 |
|
Suresh Bansilal Chordiya |
|
0.150 |
|
Ojas Suresh Chordiya |
|
0.100 |
|
|
|
|
|
|
TOTAL |
1.000 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business of manufacture of instruments, push button actuators,
motors and parts, contact block and its accessories and parts, and to deal in
or manufacture all types of electrical switches etc. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Taiwan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
|
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||||||||||||||||||||||
|
Customers : |
Other
|
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No. of Employees : |
60 (Approximately) |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Palnithar and Patwardhan Chartered Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
General Industrial Control Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
TOTAL OBLIGATION OF CONTRIBUTION: RS.1.000 MILLION
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
07.11.2012 TO
31.03.2013 |
|
I.
CONTRIBUTION AND
LIABILITIES |
|
|
|
|
(1) Partner's
Funds |
|
|
|
|
Contribution received |
|
1.000 |
1.000 |
|
Share Application Money |
|
0.000 |
0.000 |
|
Reserves & surplus |
|
118.989 |
102.234 |
|
(Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWOTH |
|
119.989 |
103.234 |
|
|
|
|
|
|
2.Liabilities |
|
|
|
|
a)
Secured Loans |
|
105.763 |
99.146 |
|
b)
Unsecured Loans |
|
92.432 |
71.099 |
|
Sub Total |
|
198.195 |
170.245 |
|
|
|
|
|
|
a)
Creditors/trade payables - Advance from customers
|
|
101.951 |
68.879 |
|
b) Other
liabilities (to specify) Deferred tax liabilities |
|
5.778 |
5.578 |
|
c) Provisions |
|
|
|
|
for taxation |
|
0.000 |
0.000 |
|
for contingencies |
|
2.155 |
0.000 |
|
for insurance Other provisions (if any) |
|
0.000 |
0.000 |
|
|
|
0.000 |
0.000 |
|
Sub Total |
|
109.884 |
74.457 |
|
|
|
|
|
|
TOTAL |
|
428.068 |
347.936 |
|
|
|
|
|
|
Fixed Assets [Net Block] |
|
225.947 |
195.164 |
|
|
|
|
|
|
Investment |
|
0.125 |
0.125 |
|
Loans and advances |
|
8.035 |
7.321 |
|
Inventories |
|
67.486 |
53.751 |
|
Debtors/ trade receivable |
|
116.692 |
90.374 |
|
Cash and Cash equipment |
|
9.783 |
1.201 |
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
|
428.068 |
347.936 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
07.11.2012 TO 31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
|
412.959 |
375.421 |
|
|
|
Other Income |
|
9.250 |
2.303 |
|
|
|
|
TOTAL (A) |
|
422.209 |
377.724 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Raw material consumed |
|
278.692 |
254.299 |
|
|
|
Increase/decrease in stock [including for raw materials, work in
progress and finished goods] |
|
0.585 |
(2.634) |
|
|
|
Consumption of stores and spare parts |
|
2.064 |
1.503 |
|
|
|
Power and fuel |
|
2.618 |
2.027 |
|
|
|
Administrative expenses |
|
60.296 |
50.955 |
|
|
|
Payment to auditors |
|
0.070 |
0.065 |
|
|
|
Selling expenses |
|
9.295 |
8.269 |
|
|
|
Insurance expenses |
|
0.321 |
0.305 |
|
|
|
|
TOTAL (B) |
|
353.941 |
314.789 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
68.268 |
62.935 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
34.427 |
27.697 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
33.841 |
35.238 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
15.544 |
12.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
18.297 |
22.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
4.669 |
5.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
13.628 |
17.555 |
|
Expected Sales (2014-2015) : Rs.500.000 Million
The above information has been parted by Mr. Rajendra.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
07.11.2012 TO 31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin |
(%) |
|
3.30 |
4.68 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
|
16.53 |
16.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.27 |
6.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.15 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.65 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.84 |
2.05 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
|
07.11.2012 to 31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Contribution
received |
|
1.000 |
1.000 |
|
Reserves
& surplus |
|
102.234 |
118.989 |
|
Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Net worth |
|
103.234 |
119.989 |
|
|
|
|
|
|
Secured
Loans |
|
99.146 |
105.763 |
|
Unsecured
Loans |
|
71.099 |
92.432 |
|
Total borrowings |
|
170.245 |
198.195 |
|
Debt/Equity ratio |
|
1.649 |
1.652 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
07.11.2012 to 31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
375.421 |
412.959 |
|
|
|
9.999 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
07.11.2012 to 31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
|
375.421 |
412.959 |
|
Profit |
|
17.555 |
13.628 |
|
|
|
4.68% |
3.30% |
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 two years |
Yes |
|
12] |
Profitability for two 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) |
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 |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
10411153 |
31/10/2013 * |
149,337,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
L01001791 |
|
2 |
10411152 |
07/11/2012 |
130,900,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
L00515916 |
* Date of charge modification
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 records 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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
|
--PROFITABILIRY |
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|
-- |
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.