MIRA INFORM REPORT

 

 

Report No. :

306078

Report Date :

06.02.2015

 

IDENTIFICATION DETAILS

 

Name :

SAVITRI STEELS AND REROLLINGS PRIVATE LIMITED

 

 

Registered Office :

Shop No A-III, 1st  Floor, Surabhi Shardha Apartment, 4-1-970, Near Palace Heights Hotel, Abids Road,  Hyderabad – 500001, Telangana 

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

04.07.2008

 

 

Com. Reg. No.:

059982

 

 

Capital Investment / Paid-up Capital :

Rs. 47.192 Millions

 

 

CIN No.:

[Company Identification No.]

U27100TG2008PTC059982

 

 

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 :

Manufacturer and Trader of TMT Steel Bar.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

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 :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

As per ROC the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financial for the year 2014 are not available from any source.

 

As per available financial of 2013, profit margin of the company seems to be low. However, networth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealing.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct.

 

The company 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

 

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 (GENERAL DETAILS)

 

Name :

Mr. Prabhakar

Designation :

Finance Manager

Contact No.:

91-9849526333

Date :

03.02.2015

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

Shop No A-III, 1st  Floor, Surabhi Shardha Apartment, 4-1-970, Near Palace Heights Hotel, Abids Road,  Hyderabad – 500001, Telangana, India

Tel. No. :

Not Available

Mobile No. :

91-9849526333 (Mr. Prabhakar)

Fax No. :

Not Available

E-Mail :

savitri.steels@gmail.com

Location :

Rented

 

 

Factory 2:

SY. No. 147/AA, Somangurthi Village, Pudur Mandal, Rangareddy, Andhra Pradesh, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Rajkumar Bhagwandas Agarwal

Designation :

Director

Address :

14-2-359/1, Razzakpura, Ghoshamahal, Hyderabad - 500012, Andhra Pradesh, India

Date of Birth/Age :

18.03.1948

Date of Appointment :

04.07.2008

DIN No. :

00506208

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

Company/ LLP Status

Defaulting status

1

U17116TG1995PTC021476

BHAGWANDAS SATYANARAYAN SILK MILLS PRIVATE LIMITED

Whole-time director

22-08-1995

22-08-1995

Active

NO

2

U91200TG1974GAP001751

AP OIL MILLERS ASSOCIATION LIMITED

Director

14-07-2001

14-07-2001

Active

NO

3

U27100TG2008PTC059982

SAVITRI STEELS AND REROLLINGS PRIVATE LIMITED

Director

04-07-2008

04-07-2008

Active

NO

 

 

Name :

Mr. Babulal Bhagwan Das Agarwal

Designation :

Director

Address :

14-2-359/1/B, Godeki Khabar, Hyderabad - 500012, Andhra Pradesh, India

Date of Birth/Age :

05.05.1952

Date of Appointment :

04.07.2008

DIN No. :

00674104

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

Company/ LLP Status

Defaulting status

1

U17116TG1995PTC021476

BHAGWANDAS SATYANARAYAN SILK MILLS PRIVATE LIMITED

Director

22-08-1995

22-08-1995

Active

NO

2

U27100TG2008PTC059982

SAVITRI STEELS AND REROLLINGS PRIVATE LIMITED

Director

04-07-2008

04-07-2008

Active

NO

 

 

Name :

Mr. Girish Kumar Agarwal

Designation :

Director

Address :

8-2-616/S/2/1, Road No. 11, Banjara Hills, Hyderabad - 500034, Andhra Pradesh, India

Date of Birth/Age :

17.05.1972

Date of Appointment :

30.09.2008

DIN No. :

02199234

 

 

Name :

Kamal Kishore Agarwal

Designation :

Managing Director

Address :

8-2-616/S/2/1, Road No. 11, Banjara Hills, Hyderabad - 500034, Andhra Pradesh, India

Date of Birth/Age :

27.04.1966

Date of Appointment :

30.09.2008

DIN No. :

02268925

 

 

KEY EXECUTIVES

 

Name :

Mr. Prabhakar

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2014

 

Names of Shareholders

No. of Shares

 

Babita Agarwal

50000

Deepika Agarwal

150000

Geeta Devi Agarwal

200000

Girish Kumar Agarwal

200000

Jyoti Devi Agarwal

55000

Kamal Kishore Agarwal

300000

Naresh Kumar Agarwal

80000

Nitin Agarwal

65000

Payal Jhunjhunwala

45000

Raj Kumar Agarwal HUF

53000

Raj Kumar Agarwal

15700

Ritesh Agarwal

90000

Sailesh Kumar

50000

Sri Babulal Agarwal

15400

Sri Babulal Agarwal HUF

53000

Sri Sohanlal Agarwal

350000

Sushma

32800

Vikas Agarwal

73000

Vimlesh Kumar

54300

Vipin Kumar

73000

Pratik Iron Ore Trading Private Limited

1000000

Gurukul Tradecom Private Limited

1650000

Anansd Vyas

8000

Jani Baivyas

8000

Nand Kishore Vyas

8000

Nand Kishore Vyas HUF

8000

Pankaj Vyas

8000

Sangeeta Vyas

8000

Sanjay Vyas

8000

Sumitra Vyas

8000

Total

4719200

 

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

56.15

Directors or relatives of Directors

41.43

Other top fifty shareholders

2.42

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of TMT Steel Bar.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

 

Products :

Raw Material

Countries :

Singapore

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Bank Name:

State Bank of Hyderabad,

Branch:

C&I Banking Division, Gunfoundry Branch, Hyderabad - 500177, Andhra Pradesh, India

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG TERM BORROWINGS

 

 

Term Loan – Banks - Rupee

 

 

SBH Term Loan

42.983

57.674

HDFC Car Loan Mahendera

0.515

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

Loans Repayable on Demand – Banks

SBH C/C A/c

77.392

72.004

Loans and Advances from Related Parties

83.563

33.499

Total

204.453

163.177

 

Auditors :

 

Name :

PPKG and Company

Chartered Accountants

Address :

4-1-371, 3rd Floor, Kundas Estate, Beside Hotel Jaya International, Abids, Hyderabad – 500001, Andhra Pradesh, India

Tel. No. :

91-40-66132176/ 24760441

Fax No. :

91-40-24761320

E-Mail :

ppkgco@gmail.com

Website :

www.batgach.com

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

AAFFP7397E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7,270,000

Equity Shares

Rs.10/- each

Rs. 72.700 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,719,200

Equity Shares

Rs.10/- each

Rs. 47.192 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

47.192

30.052

30.052

(b) Reserves & Surplus

72.287

40.052

36.439

(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)

119.479

70.104

66.491

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

43.498

57.674

87.591

(b) Deferred tax liabilities (Net)

1.943

2.036

2.027

(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)

45.441

59.710

89.618

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

160.955

105.503

68.746

(b) Trade payables

26.182

70.368

31.197

(c) Other current liabilities

35.701

29.439

2.741

(d) Short-term provisions

5.022

4.058

2.925

Total Current Liabilities (4)

227.860

209.368

105.609

 

 

 

 

TOTAL

392.780

339.182

261.718

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

92.444

104.813

117.711

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

21.561

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

18.014

0.000

0.000

(e) Other Non-current assets

16.335

0.962

0.000

Total Non-Current Assets

148.354

105.775

117.711

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

102.061

73.744

67.031

(c) Trade receivables

115.997

112.843

51.740

(d) Cash and cash equivalents

6.596

6.370

1.104

(e) Short-term loans and advances

19.772

40.450

22.689

(f) Other current assets

0.000

0.000

1.443

Total Current Assets

244.426

233.407

144.007

 

 

 

 

TOTAL

392.780

339.182

261.718

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

985.685

982.172

632.947

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION  

22.132

20.126

19.164

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

14.099

15.599

17.751

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX 

8.033

4.527

1.413

 

 

 

 

 

Less

TAX                                                                 

1.508

0.914

0.295

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

6.525

3.613

1.118

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

0.052

(3.561)

(4.679)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

6.577

0.052

(3.561)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.38

1.20

0.37

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

 

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

0.66

0.37

0.18

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.16

1.33

0.54

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

0.06

0.02

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.71

2.33

2.35

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.07

1.11

1.36

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

30.052

30.052

47.192

Reserves & Surplus

36.439

40.052

72.287

Net worth

66.491

70.104

119.479

 

 

 

 

long-term borrowings

87.591

57.674

43.498

Short term borrowings

68.746

105.503

160.955

Total borrowings

156.337

163.177

204.453

Debt/Equity ratio

2.351

2.328

1.711

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

632.947

982.172

985.685

 

 

55.174

0.358

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

632.947

982.172

985.685

Profit

1.118

3.613

6.525

 

0.18%

0.37%

0.66%

 

 

 

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 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

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

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

No

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10180681

08/03/2013 *

420,000,000.00

STATE BANK OF HYDERABAD

C&I BANKING DIVISION, GUNFOUNDRY BRANCH, HYDERABAD - 500177, ANDHRA PRADESH, INDIA

B71569396

 

* Date of charge modification

 

 

CHANGE OF ADDRESS

 

The registered office of the company has been shifted from 21-6-14 to 48, Highcourt Road, Post Office Lane, Ghansibazar, Hyderabad – 500002, Andhra Pradesh, India to the present address w.e.f. 25.01.2011.

 

 

FIXED ASSETS

 

·         Land

·         Building

·         Plant and Machinery

·         Electrical Equipment

·         Generator

·         Computers Equipments

·         Vehicles

·         Motor Vehicles

 

 

 

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 reistered 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.61.87

UK Pound

1

Rs.94.07

Euro

1

Rs.70.19

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MRI

 

 

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

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

42

 

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.