MIRA INFORM REPORT

 

 

Report No. :

352332

Report Date :

02.12.2015

 

IDENTIFICATION DETAILS

 

Name :

RUHATIYA SPINNERS PRIVATE LIMITED

 

 

Registered Office :

Kirana Bazar Akola, Mumbai – 444001, Maharashtra

Tel. No.:

91-724-2430664

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.04.1996

 

 

Com. Reg. No.:

11-098698

 

 

Capital Investment / Paid-up Capital :

Rs.6.400 Million

 

 

CIN No.:

[Company Identification No.]

U17110MH1996PTC098698

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NGPR01706F

 

 

PAN No.:

[Permanent Account No.]

AAACR8029D

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturer, Trader, Exporter and Importer of Cotton Yarn, Cotton Bales. [Confirmed by management]

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 340000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

The company has registered healthy operational activity along with decent sales turnover and achieved profitability margin of 3.1% in the FY-14.

 

The company has comfortable financial base, adequate networth position along with favorable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payments are usually correct.

 

The company can be considered 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 – 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

November, 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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ajay Agarwal

Designation :

Director

Contact No.:

91-724-2430664

Date :

28.11.2015

 

 

LOCATIONS

 

Registered Office :

Kirana Bazar Akola, Mumbai – 444001, Maharashtra, India

Tel. No.:

91-724-2430664 / 2430381

Mobile No.:

91-9823021276 (Mr. Ajay)

Fax No.:

91-724-2430604

E-Mail :

cottonindia@cottonindia.com

companyclient007@gmail.com

Website :

http://www.cottonindia.com

Area :

4000 sq. Ft.

Location :

Owned

Locality:

Commercial

 

 

Branch Office :

Vashi, Mumbai, Maharashtra, India

 

 

Factory/ Warehouse :

Near Geetanjali High School AT, Kaneheri Sarap, TA Barshitkli – 444400, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Shivprakash Kaluram Ruhatiya

Designation :

Whole-Time Director

Address :

New Radhakisan Plots, Akola - 444001, Maharashtra, India

Date of Appointment :

15.03.2008

DIN No.:

00760111

PAN No.:

AAVPA8896K

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

U01110MH1984PTC034238

RUHATIYA COTTON AND METAL PRIVATE LIMITED

Whole-time director

15/03/2008

10/10/1984

-

Active

NO

2

U65920MH1995PTC095486

NARMADA SOLVEX PRIVATE LIMITED

Managing director

29/09/2012

19/12/1995

-

Active

NO

3

U17110MH1996PTC098698

RUHATIYA SPINNERS PRIVATE LIMITED

Whole-time director

15/03/2008

08/04/1996

-

Active

NO

4

U85110MH2002PTC135321

RUHATIYA HOSPITALS PRIVATE LIMITED

Whole-time director

15/03/2008

28/03/2002

-

Active

NO

5

U91110MH2004NPL147895

VIDARBHA TEXTILE MILL OWNERS ASSOCIATION

Director

09/08/2004

09/08/2004

-

Active

NO

6

U31200MH1984PLC034175

KONARK FIXTURES LIMITED

Director

04/12/2008

04/12/2008

-

Active

NO

7

U20293MH2013PTC245217

KALURAM LAMINATES PRIVATE LIMITED

Director

04/07/2013

04/07/2013

-

Active

NO

8

U15400MH2014PTC254241

KALURAM FOOD PRODUCTS PRIVATE LIMITED

Director

13/03/2014

13/03/2014

-

Active

NO

 

 

Name :

Ajayprakash Kaluram Agrawal

Designation :

Whole-Time Director

Address :

New Radhakisan Plots, Akola - 444001, Maharashtra, India

Date of Appointment :

15.03.2008

DIN No.:

00760172

PAN No.:

ABJPA9337J

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

U01110MH1984PTC034238

RUHATIYA COTTON AND METAL PRIVATE LIMITED

Whole-time director

15/03/2008

10/10/1984

-

Active

NO

2

U17110MH1996PTC098698

RUHATIYA SPINNERS PRIVATE LIMITED

Whole-time director

15/03/2008

08/04/1996

-

Active

NO

3

U01100MH1996PTC101781

RUHATIYA AGRO PRIVATE LIMITED

Whole-time director

15/03/2008

09/08/1996

-

Active

NO

4

U15400MH2014PTC254241

KALURAM FOOD PRODUCTS PRIVATE LIMITED

Director

13/03/2014

13/03/2014

-

Active

NO

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Kaluram Ramakrishna Ruhatiya

 

3000

Omprakash Kaluram Rahutiya

 

3000

Shivprakash Kaluram Rahutiya

 

3000

Shriprakash Kaluram Agrawal

 

3000

Vijayprakash Kaluram Agrawal 

 

3000

Sanjayprakash Kaluram Rahutiya

 

3000

Ajayprakash Kaluram Agrawal

 

3000

Kaluram (HUF) Ramakisan Rahutiya

 

40000

Sau Narmadadevi Kaluram Rahutiya

 

3000

 

 

 

Total

 

64000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Trader, Exporter and Importer of Cotton Yarn, Cotton Bales. [Confirmed by management]

 

 

Products :
  • Cotton Yarn
  • Cotton Bales

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Pakistan
  • Bangladesh
  • China
  • Vietnam

 

 

Imports :

 

Products :

Raw Material

Countries :

Pakistan

 

 

Terms :

 

Selling :

Cash, L\C and Credit

 

 

Purchasing :

Cash, L\C and Credit

 

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 :

Wholesalers, Retailers and manufacturer

 

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 :

500 (Approximately)

 

 

Bankers :

Banker Name

Union Bank of India

Branch Address

Shantoli Branch, Nagpur, Maharashtra, 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

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

124.061

106.637

Total

124.061

106.637

 

Auditors :

 

Name :

B.M. Agrawal and Associates

Chartered Accountant

Address :

1St  Floor, Nishant Towers, M.G. Road, Akola, Maharashtra, India

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

AAYPA2141G

 

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates:
  • Ruhatiya Cotton And Metal Private Limited, India [U01110MH1984PTC034238]
  • Ruhatiya Agro Private Limited, India [U01100MH1996PTC101781]
  • Shrivijay Industries, India
  • Narmada Solvex Private Limited, India [U65920MH1995PTC095486]

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

125000

Equity Shares

Rs.100/- each

Rs.12.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

64000

Equity Shares

Rs.100/- each

Rs.6.400 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

6.400

6.400

6.400

(b) Reserves & Surplus

111.613

124.236

138.975

(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)

118.013

130.636

145.375

 

 

 

 

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.000

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

224.504

106.952

46.247

(b) Trade payables

34.561

12.914

56.958

(c) Other current liabilities

5.526

5.110

2.911

(d) Short-term provisions

0.580

0.985

0.335

Total Current Liabilities (4)

265.171

125.961

106.451

 

 

 

 

TOTAL

383.184

256.597

251.826

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

99.651

113.642

121.736

(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

2.548

2.548

2.500

(c) Deferred tax assets (net)

1.545

0.935

0.857

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

103.744

117.125

125.093

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

98.345

45.171

61.220

(c) Trade receivables

94.214

50.375

48.048

(d) Cash and cash equivalents

20.684

0.788

0.644

(e) Short-term loans and advances

57.405

37.688

11.836

(f) Other current assets

8.792

5.450

4.985

Total Current Assets

279.440

139.472

126.733

 

 

 

 

TOTAL

383.184

256.597

251.826

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

Total Income

1071.048

784.013

 

 

 

 

 

Less

TOTAL EXPENDITURE

1069.908

779.722

 

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE EXERTIONAL, EXTRAORDINARY ITEMS AND TAX

1.140

--

 

 

 

 

 

 

Add:

Income Tax

0.203

--

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1.343

4.291

NA

 

 

 

 

 

Less

Current Tax Include Earlier Tax

0.595

--

 

 

 

 

 

 

Add:

Differed Tax

0.610

0.918

 

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.358

3.373

 

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

21.22 

52.70

 

 

 

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

(75.768)

(38.283)

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Total Income)

(%)

0.13

0.43

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.35

1.70

NA

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.03

NA

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.90

0.82

0.32

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.05

1.11

1.19

 

 

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

6.400

6.400

6.400

Reserves & Surplus

138.975

124.236

111.613

Net worth

145.375

130.636

118.013

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

46.247

106.952

224.504

Total borrowings

46.247

106.952

224.504

Debt/Equity ratio

0.318

0.819

1.902

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Income

784.013

1071.048

 

#REF!

36.611

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Income

784.013

1071.048

Profit

3.373

1.358

 

0.43%

0.13%

 

 

 

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

Yes

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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)

Yes

16

No. of employees

Yes

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 two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last two years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Other loans and advances

100.443

0.316

Total

100.443

0.316

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10334154

22/12/2011

70,000,000.00

UNION BANK OF INDIA THROUGH AKOLA BRANCH

DHAGEKAR COMPLEX, INFRONT OF AKOLA CRICKET CLUB, CAMA PLOT, STATION ROAD, P BOX. NO. 62, AKOLA, MAHARASHTRA - 444001, INDIA

B31509748

2

10130994

15/10/2015 *

600,000,000.00

UNION BANK OF INDIA

DHAGEKAR COMPLEX, INFRONT OF AKOLA CRICKET CLUB, CAMA PLOT, STATION ROAD, P BOX. NO. 62, AKOLA, MAHARASHTRA - 444001, INDIA

C69661627

3

10093177

06/01/2014 *

280,000,000.00

UNION BANK OF INDIA

DHAGEKAR COMPLEX, INFRONT OF AKOLA CRICKET CLUB, CAMA PLOT, STATION ROAD, P BOX. NO. 62, AKOLA, MAHARASHTRA - 444001, INDIA

B94033974

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Factory equipment’s
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipment’s

 

 

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 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.66.52

UK Pound

1

Rs.100.44

Euro

1

Rs.70.44

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

GEET

 

 

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

4

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--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

 

44

 

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.