MIRA INFORM REPORT
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Report No. : |
306980 |
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Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAND COMPOSITES PRIVATE LIMITED |
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Registered
Office : |
324, Shaniwar Peth, Pune – 411030, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.06.1996 |
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Com. Reg. No.: |
11-100509 |
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Capital
Investment / Paid-up Capital : |
Rs.1.656 Millions |
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CIN No.: [Company Identification
No.] |
U24296PN1996PTC100509 |
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TIN No.: |
Not Available |
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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
: |
Manufacturing and Selling of Moulded Plastic Components. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
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 34000s |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. The company has been doing well. It appears to be sound financial
position. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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 – 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 |
|
High |
B2 |
|
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.
LOCATIONS
|
Registered Office : |
324, Shaniwar Peth, Pune – 411030, Maharashtra, India |
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Tel. No.: |
91-20-24453482 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
W-114, S-Block, MIDC, Bhosari, Pune - 411026, Maharashtra, India |
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Tel. No.: |
91-20-27120382 / 24113277 / 66113277 |
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Fax No.: |
91-20-27128596 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Alhad Anand
Lele |
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Designation : |
Managing Director |
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|
Address : |
324, Shaniwar
Peth, Pune - 411030, Maharashtra, India |
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Date of Birth/Age : |
27.11.1958 |
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Date of Appointment : |
12.03.1997 |
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DIN No.: |
00329201 |
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Other Directorship:
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Name : |
Mrs. Sujata Alhad
Lele |
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Designation : |
Additional
Director |
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Address : |
324 Shaniwar
Peth, Near Govardhan Mangal Karyalaya, Pune - 411030, Maharashtra, India |
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Date of Birth/Age : |
17.06.1986 |
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Date of Appointment : |
25.11.2014 |
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DIN No.: |
07021148 |
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KEY EXECUTIVES
|
Name : |
Kanj and Associates |
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Designation : |
Company Secretary |
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Address : |
3-4, Aishwarya Sankul’, No 17, G. A Kutkarni Path, Opposite Joshi Railway Museum, Kothrud, Pune – 411038, Maharashtra, India |
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Tel No.: |
91-20-25466265 / 65204591 / 65296055 |
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Fax No.: |
91-20-25461561 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bhalchandra G. Umarani |
|
100 |
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Alhad Anand Lele |
|
14077 |
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Aarti Madhusudan Sohoni |
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250 |
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Sujata Alhad Lele |
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300 |
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Madhusudan S. Sohoni |
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650 |
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Nikhil Madhusudan Sohoni |
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10 |
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Sapana Nikhil Sohoni J/W Pramila Narahari Paranjape |
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5 |
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Pranav A. Lele |
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550 |
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Prachi A. Lele |
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350 |
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Asha Umarani |
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250 |
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Heena M. Sohoni |
|
105 |
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Total |
|
16647 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
92.27 |
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Other top fifty shareholders |
7.73 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Selling of Moulded Plastic Components. |
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Products : |
Moulded Plastic Components |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
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 : |
Janata Sahakari Bank Limited, 1444, Shukrawar Peth,Thorle Bajirao Road, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
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Facilities : |
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Auditors : |
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Name : |
S.P.Pandit and Associates Chartered Accountants |
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Address : |
Flat No. 8, Akshay Apartments, Gulmohar Path, Off. Law College Road,
Pune – 411004, Maharashtra, India |
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Tel. No.: |
91-20-25463756 / 254585 |
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E-Mail : |
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PAN No.: |
ABQPP4687F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16557 |
Equity Shares |
Rs.100/- each |
Rs.1.656 Millions |
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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(1)Shareholders' Funds |
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(a) Share Capital |
1.656 |
1.656 |
1.656 |
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(b) Reserves & Surplus |
10.169 |
7.369 |
5.613 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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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) |
11.825 |
9.025 |
7.269 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
21.537 |
17.173 |
19.108 |
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(b) Deferred tax liabilities (Net) |
3.132 |
2.632 |
2.222 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term
provisions |
3.588 |
2.438 |
1.868 |
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Total Non-current
Liabilities (3) |
28.257 |
22.243 |
23.198 |
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(4)
Current Liabilities |
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(a) Short
term liabilities |
2.021 |
1.693 |
0.934 |
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(b) Trade
payables |
3.956 |
4.314 |
3.895 |
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(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
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(d) Short-term
provisions |
0.194 |
0.194 |
0.192 |
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Total Current
Liabilities (4) |
6.171 |
6.201 |
5.021 |
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TOTAL |
46.253 |
37.469 |
35.488 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
28.256 |
22.817 |
19.005 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.408 |
0.408 |
0.408 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.181 |
0.138 |
0.138 |
|
(e) Other
Non-current assets |
3.302 |
2.302 |
1.645 |
|
Total Non-Current
Assets |
32.147 |
25.665 |
21.196 |
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(2)
Current assets |
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|
|
(a)
Current investments |
0.442 |
0.815 |
0.815 |
|
(b)
Inventories |
4.407 |
4.267 |
4.119 |
|
(c) Trade
receivables |
7.343 |
5.504 |
7.076 |
|
(d) Cash
and cash equivalents |
0.631 |
0.568 |
1.310 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
1.283 |
0.650 |
0.972 |
|
Total
Current Assets |
14.106 |
11.804 |
14.292 |
|
|
|
|
|
|
TOTAL |
46.253 |
37.469 |
35.488 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
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Other Income |
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TOTAL |
49.658 |
42.643 |
42.115 |
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||
|
Less |
EXPENSES |
43.571 |
38.466 |
38.036 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.087 |
4.177 |
4.079 |
||
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||
|
Less |
DEPRECIATION/
AMORTISATION |
1.443 |
1.247 |
1.134 |
||
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||
|
|
PROFIT/(LOSS)
BEFORE TAX |
4.644 |
2.930 |
2.945 |
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||
|
Less |
TAX |
1.649 |
0.980 |
0.789 |
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||
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PROFIT/(LOSS)
AFTER TAX |
2.995 |
1.950 |
2.156 |
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||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.910 |
5.229 |
3.340 |
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Less |
APPROPRIATIONS |
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||
|
|
|
Transfer to General Reserve |
0.075 |
0.075 |
0.075 |
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Dividend |
0.165 |
0.165 |
0.165 |
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|
Tax on Dividend |
0.028 |
0.028 |
0.027 |
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|
Adjustment made |
0.000 |
0.001 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
9.637 |
6.910 |
5.229 |
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|
Earnings / (Loss)
Per Share (Rs.) |
180.87 |
NA |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.13 |
7.91 |
8.40 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.32 |
0.41 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
1.82 |
1.90 |
2.63 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.29 |
1.90 |
2.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
1.656 |
1.656 |
1.656 |
|
Reserves & Surplus |
5.613 |
7.369 |
10.169 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7.269 |
9.025 |
11.825 |
|
|
|
|
|
|
Long Term borrowings |
19.108 |
17.173 |
21.537 |
|
Total
borrowings |
19.108 |
17.173 |
21.537 |
|
Debt/Equity
ratio |
2.629 |
1.903 |
1.821 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Total Income |
42.115 |
42.643 |
49.658 |
|
|
|
1.254 |
16.451 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
42.115 |
42.643 |
49.658 |
|
Profit |
2.156 |
1.950 |
2.995 |
|
|
5.12% |
4.57% |
6.03% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Deposits from
directors |
2.125 |
1.495 |
|
Deposits from
member |
7.405 |
5.252 |
|
Interest Payable |
0.520 |
0.387 |
|
Total |
10.050 |
7.134 |
COMPANY
INFORMATION
Subject is a private limited company registered under Companies Act
1956. The company is engaged in the business of manufacturing and selling of
moulded plastic components as per customer requirement.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10495398 |
02/03/2014 |
5,000,000.00 |
Janata Sahakari Bank Limited |
1444, Shukrawar Peth,Thorle Bajirao Road,, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
C04700191 |
|
2 |
10244234 |
13/09/2010 |
1,500,000.00 |
Janata Sahakari Bank Limited |
1444, Shukrawar Peth,Thorle Bajirao Road,, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
A96416300 |
|
3 |
10244233 |
17/09/2010 * |
2,700,000.00 |
Janata Sahakari Bank Limited |
1444, Shukrawar Peth,Thorle Bajirao Road,, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
A97886014 |
|
4 |
10173634 |
26/08/2009 |
1,900,000.00 |
Janata Sahakari Bank Limited |
1444, Shukrawar Peth,Thorle Bajirao Road,, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
A68896778 |
|
5 |
10097120 |
03/03/2014 * |
6,000,000.00 |
Janata Sahakari Bank Limited |
1444, Shukrawar Peth,Thorle Bajirao Road,, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
C04700431 |
|
6 |
10087549 |
22/01/2008 |
5,150,000.00 |
Janata Sahakari Bank Limited |
1444, Shukrawar Peth,Thorle Bajirao Road,, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
A32125742 |
|
7 |
10085707 |
22/01/2008 * |
880,000.00 |
Janata Sahakari Bank Limited |
1444, Shukrawar Peth,Thorle Bajirao Road,, Through Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411002, India |
A32126385 |
|
8 |
90092392 |
19/12/2003 |
600,000.00 |
Janata Sahakari Bank Limited |
Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411030, India |
- |
|
9 |
90085030 |
19/03/1999 |
1,150,000.00 |
Janata Sahakari Bank Limited |
Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411030, India |
- |
|
10 |
90084940 |
20/11/1998 |
208,000.00 |
Janata Sahakari Bank Limited |
Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411030, India |
- |
|
11 |
90084649 |
24/04/2001 * |
200,000.00 |
Janata Sahakari Bank Limited |
Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411030, India |
- |
|
12 |
90090504 |
31/03/2005 * |
200,000.00 |
Janata Sahakari Bank Limited |
Shaniwar Narayan Peth Branch, Pune, Maharashtra - 411030, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.96 |
|
|
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
34 |
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.