MIRA INFORM REPORT
|
Report No. : |
306736 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RISHITA DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
First Floor, Coronation
Anand Tower, 116-117, Vibhuti Khand, Gomti Nagar, Lucknow – 226 010, Uttar
Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
02.09.2008 |
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Com. Reg. No.: |
20-035945 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U45201UP2008PTC035945 |
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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.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Real Estate Developer |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 3300 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. As confirmed by Mr. Nitesh Chaudhary, Finance Head that the subject company
is engaged into construction business and its project of building residential
complex is ongoing. As per latest financial record of 2014, the company has taken huge
external borrowing, which acts as threatening to the liquidity position of
the company. However, trade relations are improving. Business is active. Payments
are reported to be slow. The 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 (PARTIAL DETAILS)
|
Name : |
Mr. Nitesh Chaudhary |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9792000393 |
|
Date : |
06.02.2015 |
LOCATIONS
|
Registered Office : |
First Floor, Coronation
Anand Tower, 116-117, Vibhuti Khand, Gomti Nagar, Lucknow – 226 010, Uttar
Pradesh, India |
|
Tel. No. : |
Not Available |
|
Mobile No. : |
91-9792000393 (Mr. Nitesh Chaudhary-Finance Head) |
|
Fax No. : |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sudhir Kumar
Agarwal |
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|
Designation : |
Director |
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|
Address : |
24, Eldeco Greens, Gomti Nagar, Lucknow – 226 010, Uttar Pradesh,
India |
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Date of Birth/Age : |
30.07.1977 |
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Date of Appointment : |
02.09.2008 |
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DIN No. : |
01783755 |
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PAN No.: |
ACXPA3464H |
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Other Directorship :
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Name : |
Ms. Lavee Agarwal |
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Designation : |
Director |
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|
Address : |
24, Eldeco Greens, Gomti Nagar, Lucknow – 226 010, Uttar Pradesh,
India |
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Date of Birth/Age : |
30.09.1978 |
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Date of Appointment : |
02.09.2008 |
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DIN No. : |
01836581 |
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PAN No.: |
ABVPA7438E |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Nitesh Chaudhary |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
holding |
|
Sudhir Kumar Agarwal |
500 |
50.00 |
|
Lavee Agarwal |
500 |
50.00 |
|
Total |
1000 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developer |
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Products/ Services : |
Builders, Contractors, Dealers in and Developers of Real Estate/ Immovable Properties. |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
Kotak Mahindra Bank Limited ·
HDFC Bank Limited ·
State Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
SREI Equipment Finance Private Limited,
'Vishwakarma', 86C, Topsia Road, Kolkata – 700 046, West Bengal, India |
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Auditors : |
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Name : |
Rajeev Aron and Associates Chartered Accountants |
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Address : |
2nd Floor, Shrawan Plaza, (Above Brindavan Restaurant), 1A, Sapru Marg, Lucknow – 226 001, Uttar Pradesh, India |
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Tel. No. : |
91-522-4078898/ 2628898/ 2231177 |
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Mobile No. : |
91-9415017252 |
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E-Mail : |
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PAN
No.: |
AFCPK8837L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Group Companies : |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 million |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 million |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
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|
(1)
Shareholders' Funds |
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|
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|
(a) Share Capital |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
1.049 |
0.000 |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1.149 |
0.100 |
0.100 |
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(3) Non-Current
Liabilities |
|
|
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|
(a) Long-term borrowings |
11.081 |
16.596 |
11.620 |
|
(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) |
11.081 |
16.596 |
11.620 |
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
242.280 |
308.898 |
177.432 |
|
(d) Short-term
provisions |
0.673 |
2.817 |
2.064 |
|
Total Current
Liabilities (4) |
242.953 |
311.715 |
179.496 |
|
|
|
|
|
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TOTAL |
255.183 |
328.411 |
191.216 |
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
16.412 |
10.487 |
1.033 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(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 |
16.412 |
10.487 |
1.033 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
124.410 |
195.673 |
94.869 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
6.221 |
10.734 |
4.143 |
|
(e)
Short-term loans and advances |
105.519 |
111.455 |
91.161 |
|
(f) Other
current assets |
2.621 |
0.062 |
0.010 |
|
Total
Current Assets |
238.771 |
317.924 |
190.183 |
|
|
|
|
|
|
TOTAL |
255.183 |
328.411 |
191.216 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
214.858 |
0.000 |
0.000 |
|
|
|
Other Income |
|
0.612 |
0.000 |
|
|
|
TOTAL |
214.858 |
0.612 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Land/ FSI Rights |
210.291 |
0.000 |
29.595 |
|
|
|
Purchases of
stock-in-trade |
|
74.133 |
29.604 |
|
|
|
Direct Expenses-Site
overheads, direct consumables and labour |
|
12.954 |
3.023 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
|
(100.804) |
(69.268) |
|
|
|
Employee benefit expense |
|
4.735 |
2.883 |
|
|
|
Other expenses |
|
7.757 |
3.501 |
|
|
|
TOTAL |
210.291 |
(1.225) |
(0.662) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
4.567 |
1.837 |
0.662 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.004 |
1.424 |
0.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.563 |
0.413 |
0.103 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.483 |
0.413 |
0.103 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.080 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.031 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.049 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1049.13 |
0.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
NA |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.42 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.94 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
9.64 |
165.96 |
116.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.02 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.000 |
0.000 |
1.049 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
0.100 |
0.100 |
1.149 |
|
|
|
|
|
|
Long Term borrowings |
11.620 |
16.596 |
11.081 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
11.620 |
16.596 |
11.081 |
|
Debt/Equity ratio |
116.200 |
165.960 |
9.644 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
0.000 |
0.612 |
214.858 |
|
|
|
|
35,007.516 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
0.000 |
0.612 |
214.858 |
|
Profit |
0.000 |
0.000 |
1.049 |
|
|
|
0.00% |
0.49% |
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BACKGROUND AND
COMPANY OVERVIEW
Subject is a Real Estate Development Company. The company has entered
into an agreement with MIS Ansal API for purchase of Area under. FSI licence
agreement and has made advances in this regard. The company has received
possession in respect of few blocks while in some cases the possession is
either pending or have been received in the subsequent year.
The company has started construction on the plots for which, the
possession has been received.
The project is in progress, however looking at and considering the
accounting guidelines, the revenue for the year has been recognized in terms of
principles specified in AS9, AS7 supplemented by the guidance note on
recognition of revenue by the real estate developers which mandates the
application of POC method.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Sudhir Kumar Agarwal (Director) |
0.000 |
0.230 |
|
Lavee Agarwal |
4.586 |
4.541 |
|
Priyanka Agarwal |
2.296 |
1.975 |
|
Sudhir Kumar Agarwal HUF |
0.000 |
3.604 |
|
Ramesh Chand Agarwal Savita Agarwal |
0.700 |
0.700 |
|
Vinay Kumar Tewari |
0.000 |
1.000 |
|
Total |
7.582 |
12.050 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10415819 |
03/03/2013 |
2,893,114.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA
ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B71992291 |
|
2 |
10395489 |
22/11/2012 |
1,776,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B65317513 |
FIXED ASSETS
·
Computer Software
·
Computer and Printer
·
Mobile
·
Admn. and Site Office
·
Camera
·
Air Conditioner
·
CCTV Camera
·
Plant and Machinery
·
JCB Machine
·
Mahindra XUV (UP14BQ0677)
·
Furniture
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.
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.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--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 |
|
27 |
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.