MIRA INFORM REPORT

 

 

Report No. :

338150

Report Date :

26.08.2015

 

IDENTIFICATION DETAILS

 

Name :

MJR BUILDERS PRIVATE LIMITED

 

 

Registered Office :

No. 54, II Floor, 17th Cross, 12th Main, Sector - 6, HSR Layout, Bangalore – 560102, Karnataka

Tel. No.:

91-80-22541950

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.02.2011

 

 

Com. Reg. No.:

08-057125

 

 

Capital Investment / Paid-up Capital :

Rs. 64.900 Million

 

 

CIN No.:

[Company Identification No.]

U45209KA2011PTC057125

 

 

IEC No.:

Not Available

 

 

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 a Real Estate Builders and Developers.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 270000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

MJR Builders Private Limited was established in February 2011, it is established company having moderate track record.

 

The rating take into account on company moderate operational and financial risk profile marked by losses in FY-14, modest capital base backed by average debt protection metrics.

 

The rating take consideration on its promoters established track record in the real estate industry.

 

However, trade relations are improving. Business is active. Payments terms are slow but correct.

 

The company can be considered for business dealings 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 Bank Facilities = BB-

Rating Explanation

Inadequate-credit-quality and high credit risk.

Date

April 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 31-03-2013.

 

 

INFORMATION DENIED

 

MANAGEMENT NON CO-OPERATIVE (91-80-22541950)

 

LOCATIONS

 

Registered Office/ Corporate Office :

No. 54, II Floor, 17th Cross, 12th Main, Sector - 6, HSR Layout, Bangalore – 560102, Karnataka, India

Tel. No.:

91-80-22541950

Fax No.:

Not Available

E-Mail :

capattabhi@gmail.com

bharat.g@mjrbuilders.in

Website:

www.mjrbuilders.in (http://www.mjrbuilders.in)

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Shamanna Jayarama Reddy

Designation :

Director

Address :

93/3, 29th Main, BTM Layout,1 Phase, Bangalore – 560076, Karnataka, India

Date of Birth/Age :

14.04.1942

Date of Appointment :

18.09.2011

DIN No.:

01353817

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

U72200KA2000PLC027040

TEXAS NETWORKS LIMITED

Director

10/5/2000

10/5/2000

-

Strike off

NO

2

U45209KA1999PTC025827

S.J.R. INFRASTRUCTURE PRIVATE LIMITED

Director

30/09/2009

7/9/2009

-

Active

NO

3

U45201KA2010PTC055019

SJR PRIME SPECTRUM PRIVATE LIMITED

Director

31/08/2010

31/08/2010

-

Active

NO

4

U45201KA2010PTC055018

SJR PRIME HOMES PRIVATE LIMITED

Director

31/08/2010

31/08/2010

-

Active

NO

5

U45201KA2010PTC052844

SJR PRIME CORPORATION PRIVATE LIMITED

Director

27/10/2010

27/10/2010

-

Active

NO

6

U45209KA2011PTC057125

MJR BUILDERS PRIVATE LIMITED

Director

18/09/2011

15/02/2011

-

Active

NO

7

U70100KA2015PTC079924

PRIMECORP REALTY PRIVATE LIMITED

Director

23/04/2015

23/04/2015

-

Active

NO

8

U70100KA2015PTC079923

PRIMECO REALITY PRIVATE LIMITED

Director

23/04/2015

23/04/2015

-

Active

NO

 

 

Name :

Mr. Madhusudhan Talamarla

Designation :

Director

Address :

No 649 , Ferns Paradise, Marthahalli, Bangalore – 560037, Karnataka, India 

Date of Birth/Age :

25.12.1969

Date of Appointment :

18.09.2011

DIN No.:

02314994

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

U15500GA2008PTC005920

MAC MOHAN FOODS AND BEVERAGES PRIVATE LIMITED

Director

14/10/2008

14/10/2008

-

Strike off

NO

2

U15500GA2008PTC005924

MC MOHAN DISTILLERIES PRIVATE LIMITED

Director

16/10/2008

16/10/2008

31/12/2011

Active

NO

3

U45209KA2011PTC057125

MJR BUILDERS PRIVATE LIMITED

Director

18/09/2011

15/02/2011

-

Active

NO

4

U52190TG2012PTC080442

MMS OVERSEAS PRIVATE LIMITED

Director

20/04/2012

20/04/2012

-

Active

NO

 

 

Name :

Mr. Nagendra Reddy Buchireddygari

Designation :

Director

Address :

D. No. 12-2-743, Ashok Nagar, Anantapur – 515001, Andhra Pradesh, India

Date of Birth/Age :

01.05.1963

Date of Appointment :

18.04.2011

DIN No.:

03504679

 

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Madhusudhan Talamarla

 

2799900

Shamanna Jayarama Reddy

 

2690100

Swarnarekha Dealcom Private Limited

 

37500

Eklavya Tradecom Private Limited

 

87500

Babylon Trading and Investment Private Limited

 

125000

Sonata Exim Private Limited

 

125000

Zenith Fiscal Services Private Limited

 

87500

Dhanvantri Trafin Private Limited

 

100000

Agarani Credit and Finvest Private Limited

 

250000

Linkup Infrastructure Private Limited

 

62500

Empire Niketan Private Limited

 

125000

Total

 

6490000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

15.40

Directors or relatives of Directors

84.60

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is a Real Estate Builders and Developers.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :
  • Corporation Bank Limited

 

Banker Name

The Karur Vysya Bank Limited

Branch Address

No.12, Shravanthi Blue Chips, 100 Feet Ring Road, 1st Stage, BTM Layout, Bangalore - 560068, Karnataka, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans from banks

285.823

100.032

Loans taken for fixed assets

3.816

5.330

Total

289.639

105.362

 

Auditors :

 

Name :

G.Pattabhi and Company

Chartered Accountants

Address :

Flat No.407, IIND Floor No.9, Auto Towers, J .C.Road, Bangalore – 560002, India

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

ABDPR5701M

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :
  • SJR Prime Corporation Private Limited, India [U45201ka2010ptc052844]
  • SJR Enterprises Private Limited, India [U70102ka2006ptc039260]
  • SJR Mines, India

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs.10/- each

Rs.100.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

6490000

Equity Shares

Rs.10/- each

Rs.64.900 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

64.900

64.900

64.900

(b) Reserves & Surplus

30.479

21.751

9.740

(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)

95.379

86.651

74.640

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

307.742

123.465

30.591

(b) Deferred tax liabilities (Net)

0.734

0.444

0.170

(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)

308.476

123.909

30.761

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

19.316

7.413

4.162

(c) Other current liabilities

1171.629

483.072

150.824

(d) Short-term provisions

10.027

4.671

0.114

Total Current Liabilities (4)

1200.972

495.156

155.100

 

 

 

 

TOTAL

1604.827

705.716

260.501

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

144.800

73.088

12.404

(ii) Intangible Assets

0.272

0.082

0.025

(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

182.123

174.117

148.743

(e) Other Non-current assets

0.018

0.027

0.037

Total Non-Current Assets

327.213

247.314

161.209

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

90.842

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and cash equivalents

11.254

35.379

1.864

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

1266.360

423.023

7.586

Total Current Assets

1277.614

458.402

100.292

 

 

 

 

TOTAL

1604.827

705.716

261.501

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

TOTAL REVENUE

1111.815

347.035

0.200

 

 

 

 

Less

TOTAL EXPENSES

1100.542

331.774

20.290

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

11.273

15.261

(20.090)

 

 

 

 

 

Less

TAX

NA

NA

0.170

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

11.273

15.261

(20.260)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.74 

22.12

(3.12)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Total Revenue)

(%)

1.01

4.40

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.70

2.16

(7.68)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.18

(0.27)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.23

1.42

0.41

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.06

0.93

0.65

 

 

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

64.900

64.900

64.900

Reserves & Surplus

9.740

21.751

30.479

Net worth

74.640

86.651

95.379

 

 

 

 

long-term borrowings

30.591

123.465

307.742

Short term borrowings

0.000

0.000

0.000

Total borrowings

30.591

123.465

307.742

Debt/Equity ratio

0.410

1.425

3.227

 

 

 

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)

Total Revenue

0.200

347.035

1111.815

 

 

173417.500

220.375

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Revenue

0.200

347.035

1111.815

Profit

(20.260)

15.261

11.273

 

(10130.00%)

4.40%

1.01%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from 649, Ferms Paradise Outer Ring Road, Doddanakundi, Marathahalli Bangalore – 560037, Karnataka, India to the present address w.e.f. 06.05.2011

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances from directors

2.903

2.903

Intercorporate borrowings

15.200

15.200

Total

18.103

18.103

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10569981

09/04/2015

200,000,000.00

CORPORATION BANK

NO. 83, 6TH CROSS, 17TH D MAIN, KORAMANGALA 6TH BLOCK, BANGALORE, KARNATAKA - 560095, INDIA

C53927182

2

10452724

17/07/2014 *

220,000,000.00

THE KARUR VYSYA BANK LIMITED

NO.12, SHRAVANTHI BLUE CHIPS, 100 FEET RING ROAD,1ST STAGE, BTM LAYOUT,, BANGALORE, KARNATAKA - 560068, INDIA

C48632517

3

10421068

26/03/2013

4,500,000.00

THE KARUR VYSYA BANK LIMITED

NO. 12 SHRAVANTHI BLUE CHIP NEAR,, AXA BUILDING, BTM, FIRST STAGE, 100 FT RING ROAD, BANGALORE, KARNATAKA - 560068, INDIA

B73565764

4

10364075

12/06/2012

200,000,000.00

KARUR VYSYA BANK

NO 12, SHRAVANTHI BLUE CHIP, BTM 1ST STAGE, 100FT RING ROAD, BANGALORE, KARNATAKA - 560068, INDIA

B43029610

5

10332116

12/06/2012 *

28,500,000.00

KARUR VYSYA BANK

NO 12, SHRAVANTHI BLUE CHIP, BTM 1ST STAGE, 100FT RING ROAD, BANGALORE, KARNATAKA - 560068, INDIA

B43029206

 

* Date of charge modification

 

 

 

 

FIXED ASSETS

 

TANGIBLE ASSETS

 

 

INTANGIBLE ASSETS

 

 

 

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.66.71

UK Pound

1

Rs.105.10

Euro

1

Rs.77.11

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

--

--BUSINESS SCALE

1~10

4

--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

 

28

 

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.