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Report No. : |
305091 |
|
Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUAVE HOSPITALITY |
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Registered
Office : |
5 – Dhawal Society, 63 – Gokhale Road, Dadar (West), Mumbai – 400028,
Maharashtra |
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Country : |
India |
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Financial as on
: |
31.03.2015 [Estimated] |
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Incorporation
Date: |
01.04.2014 |
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Capital
Investment / Paid-up Capital : |
Rs.0.356 Million [Estimated] |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
ACOFS3546B |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Providing Hospitality Services. |
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No. of Employees
: |
2 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
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Status : |
New Business |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new partnership concern establishing itself gradually. Mr. Hiren R. Welling, a partner provided information and claimed that
Mr. Arvind Surve is a proposed third partner in the firm, owing a vast 38
years of experience and expertise by solely handling the pan India and
international market services profile for Wockhardt Limited, who also seemed
to be the face of the business, as working together with him will further
help the business in sharing positive marketing synergies. The hospitality business backbone is comprised of customer service
which sought to be fair in case of the subject, due to a well experienced
person at the helm which seem to be providing discerning clients with
memorable experiences resulting in such a long customer list which may then
lead to referrals and repeat visits which will further boost the business on
modest lines. The ratings also take into consideration, the people oriented and
asset light nature of the business and the competitive advantage of having a
bunch of satisfied and reputed corporate clients in its nascent stages of
development. Moreover, as a new entrant the management seems to be granting high
credit to its clients, additionally the business may be constrained by
economic risks associated with the corporate hospitality business. However, trade relations are improving. Business is active. Payment
terms are reported as slow but correct as in its early stages of development.
Subsequently, the performance capability appears to be high whereas, in
view of infancy, lacking a proper glimpse of its financials, the concern can
be considered for business dealings on a safe and secured 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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. Hiren R Welling |
|
Designation : |
Partner |
|
Contact No.: |
91-9167740456 |
|
Date : |
28.01.2015 |
LOCATIONS
|
Registered Office : |
5 – Dhawal Society, 63 – Gokhale Road, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9167740456 (Mr. Hiren R Welling) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. Hiren R Welling |
|
Designation : |
Partner |
|
Address : |
5 – Dhawal Society, 63 – Gokhale Road, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
Date of Birth/Age : |
32 Years |
|
Qualification : |
Graduate |
|
Experience : |
8 Years |
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|
|
|
Name : |
Devki Sanlagiri |
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Designation : |
Partner |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.Com / MBA |
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Experience : |
7 Years |
BUSINESS DETAILS
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Line of Business : |
Providing Hospitality Services. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Purchasing : |
Cash |
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Selling : |
Cash |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Corporate :
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No. of Employees : |
2 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Devendra Shethia and Company Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2015
CAPITAL ACCOUNT [ESTIMATED]
|
PARTICULARS |
Amounts
[Rs.
In Millions ] |
PARTICULARS |
Amounts
[Rs.
In Millions ] |
|
To drawings |
0.060 |
By opening Balance |
0.150 |
|
|
|
By Interest to partners |
0.012 |
|
|
|
By remunerations |
0.230 |
|
To balance c/f |
0.356 |
By Share of profit |
0.024 |
|
|
0.416 |
|
0.416 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2015 [Estimated] |
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Partner’s Capital |
|
|
0.356 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
0.000 |
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4] (Accumulated Losses) |
|
|
0.000 |
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NETWORTH |
|
|
0.356 |
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|
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LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
2] Unsecured Loans |
|
|
0.000 |
|
TOTAL BORROWING |
|
|
0.000 |
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|
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DEFERRED TAX LIABILITIES |
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|
0.000 |
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TOTAL |
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|
0.356 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
|
|
0.030 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENT |
|
|
0.000 |
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DEFERRED TAX ASSETS |
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|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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|
Inventories |
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|
0.000 |
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Sundry Debtors |
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|
0.000 |
|
Cash & Bank Balances |
|
|
0.076 |
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Other Current Assets |
|
|
1.150 |
|
Loans & Advances and Deposits |
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|
0.000 |
|
Total Current Assets |
|
|
1.226 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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|
Sundry Creditors |
|
|
0.650 |
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Other Current Liabilities / Duty and Taxes |
|
|
0.250 |
|
Provisions |
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|
0.000 |
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Total Current Liabilities |
|
|
0.900 |
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Net Current Assets |
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|
0.326 |
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MISCELLANEOUS EXPENSES |
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|
0.000 |
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TOTAL |
|
|
0.356 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2015 [Estimated] |
|
|
SALES |
|
|
|
|
|
Income |
|
|
1.963 |
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Other Income |
|
|
0.311 |
|
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TOTAL |
|
|
2.274 |
|
|
|
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|
Less |
EXPENSES |
|
|
|
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|
Cost of Goods Sold |
|
|
1.851 |
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Accounting Fees |
|
|
0.012 |
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Bank Charges |
|
|
0.002 |
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Professional Fees |
|
|
0.021 |
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Rent for Office |
|
|
0.012 |
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Conveyance |
|
|
0.020 |
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Electricity Charges |
|
|
0.017 |
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Salary |
|
|
0.048 |
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Telephone Expenses |
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|
0.009 |
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Misc. Expenses |
|
|
0.010 |
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Internet Charges |
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|
0.006 |
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Interest to partners |
|
|
0.012 |
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Remunerations to partner |
|
|
0.230 |
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TOTAL |
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|
2.250 |
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NET PROFIT / (LOSS) |
|
|
0.024 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2015 [Estimated] |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
1.22 |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.91 |
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Return on Investment (ROI) (PBT/Networth) |
|
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|
0.07 |
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Debt Equity Ratio (Total Debt /Networth) |
|
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|
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
1.36 |
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 last
one year |
No |
|
12] |
Profitability for last
one year |
No |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking
account |
Yes |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
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.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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.