MIRA INFORM REPORT
|
Report No. : |
318872 |
|
Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIDHATA METAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Room No.2, 2nd Floor, House No. 280, Pocket – 7, Sector – 24,
Rohini, New Delhi - 110085 |
|
Tel. No.: |
91-11-25933362 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
Date of
Incorporation : |
07.03.2008 |
|
|
|
|
Com. Reg. No.: |
55-175013 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 29.266 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310DL2008PTC175013 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCV7222J |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Subject is Engaged in engaged in manufacturing of BILLETS |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established Private Company having moderate track. Management has failed to submit financial information to gov. after
FY2010. Also management denied financial information about subject to us. Payment terms are unknown. In the view of lack financial information, Company can be considered
for business dealing with some caution. |
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 B/ Stable |
|
Rating |
(Rating Suspended) |
|
Rating Explanation |
Risk – prone credit quality and carries very high credit risk. |
|
Date |
November 12, 2013 |
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. Prashant Malbari |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-21643362 |
|
Date : |
27.04.2015 |
LOCATIONS
|
Registered Office : |
Room No.2, 2nd Floor, House No. 280, Pocket – 7, Sector –
24, Rohini, New Delhi – 110085, India |
|
Tel. No.: |
91-11-25933362 |
|
Fax No.: |
91-11-25933349 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Gut No. 74/2, Village – Varle, Ta-Wada, District – Thane, Maharashtra,
India |
|
|
|
|
Head Office: |
C-2/18, Prashant Vihar, Rohini, Delhi – 110085, India |
|
Tel. No.: |
91-11-27561401 |
|
|
|
|
Corporate Office : |
Office No. 10, 1st Floor, “A” Wing, Golden Willows, Sapna
Nagari, Near Vasant Garden, Mulund West, Mumbai – 400080, Maharashtra, India |
|
Tel. No.: |
91-22-21643362 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Ishwar Goganram Samota |
|
Designation : |
Director |
|
Address : |
201, Mount Palace, Yogi Hill, Mulund West, Mumbai - 400080, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1964 |
|
Date of Appointment : |
07.03.2008 |
|
DIN No.: |
01261522 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Garg |
|
Designation : |
Director |
|
Address : |
18A, Samay Vihar Apartments, Rohini Sector-13, New Delhi - 110085, India |
|
Date of Birth/Age : |
08.02.1967 |
|
Date of Appointment : |
12.04.2011 |
|
DIN No.: |
03498128 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Malbari |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Sandeep Kumar |
758600 |
25.92 |
|
Ishwar Goganram Samota |
606000 |
20.71 |
|
Anil Kumar |
1312000 |
44.83 |
|
Rahit Hooda |
250000 |
8.54 |
|
Total |
2926600 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
20.71 |
|
Other |
79.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Engaged in engaged in manufacturing of BILLETS |
|
|
|
|
Products : |
BILLETS |
|
|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
State Bank of India, Diamond Garden Branch, S. T. Road, Bohri
Residency, Chembur, Mumbai-400071, Maharashtra, India |
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Facilities : |
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|
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|
Auditors : |
|
|
Name : |
Yashavant Anil Rajshree and Associates Chartered Accountants |
|
Address : |
2, Dhariya Co-Operative Housing Society, Ground Floor, Opposite Saraswati School (Marathi Medium), Bhaskar Colony, Naupada, Thane-400602, Maharashtra, India |
|
Tel. No.: |
91-22-25391525 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFY5835F |
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|
|
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Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
After as
30.09.2013
Authorized Capital: Rs. 35.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 33.766
Million
As on 31.03.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,926,600 |
Equity Shares |
Rs.10/- each |
Rs. 29.266 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
.
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.266 |
29.266 |
0.100 |
|
|
2] Share Application Money |
97.600 |
0.000 |
18.011 |
|
|
3] Reserves & Surplus |
18.428 |
0.448 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
145.294 |
29.714 |
18.111 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
143.569 |
155.057 |
0.647 |
|
|
2] Unsecured Loans |
0.000 |
0.250 |
4.500 |
|
|
TOTAL BORROWING |
143.569 |
155.307 |
5.147 |
|
|
DEFERRED TAX LIABILITIES |
2.117 |
1.043 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
290.981 |
186.064 |
23.258 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
138.282 |
127.894 |
16.083 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
138.325
|
81.711 |
0.000 |
|
|
Sundry Debtors |
29.076
|
6.301 |
0.000 |
|
|
Cash & Bank Balances |
0.371
|
0.079 |
0.396 |
|
|
Other Current Assets |
35.500
|
13.289 |
11.178 |
|
|
Loans & Advances |
24.850
|
14.609 |
0.000 |
|
Total
Current Assets |
228.122
|
115.989 |
11.574 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
72.488
|
57.386 |
4.753 |
|
|
Provisions |
3.264
|
0.873 |
0.045 |
|
Total
Current Liabilities |
75.752
|
58.259 |
4.798 |
|
|
Net Current Assets |
152.369
|
57.730 |
6.776 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.330 |
0.440 |
0.399 |
|
|
|
|
|
|
|
|
TOTAL |
290.981 |
186.064 |
23.258 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1216.000 |
365.600 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
12.788 |
17.553 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.532 |
13.068 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
9.256 |
4.485 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
31.63 |
15.32 |
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.39
|
2.41 |
0.000 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.59 |
0.000 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.99
|
5.23 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.01
|
1.99 |
2.41 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.100 |
29.266 |
29.266 |
|
Reserves & Surplus |
0.000 |
0.448 |
18.428 |
|
Share
Application Money |
18.011 |
0.000 |
97.600 |
|
Net worth |
18.111 |
29.714 |
145.294 |
|
|
|
|
|
|
Secured Loans |
0.647 |
155.057 |
143.569 |
|
Unsecured
Loans |
4.500 |
0.250 |
0.000 |
|
Total borrowings |
5.147 |
155.307 |
143.569 |
|
Debt/Equity ratio |
0.284 |
5.227 |
0.988 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
365.600 |
1216.000 |
|
|
|
232.604 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
365.600 |
1216.000 |
|
Profit |
4.485 |
9.256 |
|
|
1.23% |
0.76% |
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 |
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 |
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 |
No |
|
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
of the company has been shifted from “C-2/18, Prashant Vihar, Rohini New
Delhi-110085, India” to the present address w.e.f. 01.07.2011.
ACTIVITIES:
During the year ended 31-03-2011 the company has reached a turnover of Rs. 1216.200 million as against Rs.365.600 million of previous year and net profit of Rs.12.788 Million against net profit of Rs. 1.700 Million of previous year, after providing for depreciation and remuneration to directors but before provision for income tax. During The Year Company has taken share application money amounted to Rs. 97.600 Million in words which shall be converted in to share paid up equity share capital in coming financial year. This Share Application Money Was Raised to strengthen financial position of Company.
UNSECURED
LOAN
|
Particular |
31.03.2011
(Rs. in Million) |
31.03.2010 (Rs.
in Million) |
|
Other debt unsecured |
0.000 |
0.250 |
|
Total |
0.000 |
0.250 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10366454 |
11/03/2014 * |
379,600,000.00 |
STATE BANK OF INDIA |
DIAMOND GARDEN BRANCH, SWASTIK CHAMBER, 1ST FLOOR, SION TROMBAY ROAD, CHEMBUR, MUMBAI - 400071, Maharashtra, INDIA |
C04250239 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant machinery
- Furniture fixtures
- Vehicles
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.63.61 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
|
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.