MIRA
INFORM REPORT
|
Report No. : |
307686 |
|
Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BANSAL TRADELINKERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Timber Market, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.10.2007 |
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|
|
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Com. Reg. No.: |
05-037274 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.510 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52100HR2007PTC037274 |
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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
: |
Subject is engaged in the business of Wholesale and Retail Trading of
Timber. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of low profit margin of the
company. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B+ (Suspended) (Long Term Rating) |
|
Rating Explanation |
High risk of default. |
|
Date |
06.05.2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Suspended) (Long Term Rating) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk |
|
Date |
06.05.2014 |
Reason for suspended: Inability to carry out rating in absence of
requisite information from the company.
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 : |
Timber Market, Railway Road, Karnal-132001, Haryana, India |
|
Tel. No.: |
91-184-44041282 |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Subhash Chand Bansal |
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|
Designation : |
Director |
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|
Address : |
2422, Sector-13, Urban Estate, Karnal-132001, Haryana, India |
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Date of Birth/Age : |
17.09.1966 |
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Date of Appointment : |
04.10.2007 |
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DIN No.: |
01815701 |
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Other Directorship:
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Name : |
Mr. Sanjay Kumar |
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Designation : |
Director |
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Address : |
2422, Sector-13, Urban Estate, Karnal-132001, Haryana, India |
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Date of Birth/Age : |
06.06.1969 |
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Date of Appointment : |
04.10.2007 |
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DIN No.: |
01815774 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Subhash Chand |
77526 |
|
Sanjay Kumar |
18025 |
|
Dinesh Kumar |
20000 |
|
Usha Rani |
16300 |
|
Kamal Goyal |
4000 |
|
Sunita Goyal |
1000 |
|
Shashi Bansal |
12825 |
|
Subhash Chand HUF |
6690 |
|
Shilpa Bansal |
5700 |
|
Priti Mercantile Company Limited, India |
15000 |
|
Suresh Chand |
500 |
|
Som Parkash |
4690 |
|
M/s Sino Credits & Leasing Limited, India |
3000 |
|
Saurabh Bansal |
5350 |
|
Sachin Singla |
5510 |
|
Ritu Singla |
1500 |
|
Ashu Pal |
6700 |
|
Inder Jeet Kaur |
5000 |
|
Jitender Pal Singh Virk |
18500 |
|
Sanjay Sharma |
1455 |
|
Sanjay Singla |
2500 |
|
Shashi Bhushan |
6080 |
|
Riya |
2800 |
|
Bajrang Sharma |
2800 |
|
Rohit Bansal |
3360 |
|
Savita Goyal |
2880 |
|
Sushant Garg |
1344 |
|
Total |
251035 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
7.00 |
|
Directors or relatives of Directors |
93.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Wholesale and Retail Trading of
Timber. |
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Products : |
Not Available |
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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 : |
Not Divulged |
PRODUCTION STATUS - NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
·
Mga Corporation Private Limited ·
Mga International Pte Limited ·
Multi Agro-Impex Pte Limited ·
Sudima International Pte Limited ·
Assam Timber Store |
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Customers : |
·
Batara Packers Sonipat ·
Mukesh Timber Supplier Hodel ·
Varendavan Timber Traders ·
Jai Impex-Delhi ·
Mjraigandhi-Pune ·
Sea Wire Industries-Mandi |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Rajendra V Mittal and Company Chartered Accountants |
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Address : |
225, Sector 12, Part II, Karnal-132001, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFR2668H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
251035 |
Equity Shares |
Rs.10/- each |
Rs. 2.510
Millions |
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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 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
2.510 |
2.510 |
1.755 |
|
(b) Reserves & Surplus |
34.356 |
33.418 |
23.844 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
3.015 |
|
Total
Shareholders’ Funds (1) + (2) |
36.866 |
35.928 |
28.614 |
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.414 |
5.704 |
5.000 |
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(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 |
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Total
Non-current Liabilities (3) |
6.414 |
5.704 |
5.000 |
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|
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
29.634 |
28.602 |
19.975 |
|
(b) Trade payables |
136.884 |
105.706 |
94.105 |
|
(c) Other current liabilities |
0.643 |
1.120 |
1.295 |
|
(d) Short-term provisions |
0.508 |
0.416 |
0.303 |
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Total
Current Liabilities (4) |
167.669 |
135.844 |
115.678 |
|
|
|
|
|
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TOTAL |
210.949 |
177.476 |
149.292 |
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|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.837 |
2.403 |
1.078 |
|
(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) |
0.086 |
0.028 |
0.016 |
|
(d) Long-term Loan and
Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.028 |
0.011 |
0.006 |
|
Total
Non-Current Assets |
1.951 |
2.442 |
1.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
98.813 |
105.537 |
61.506 |
|
(c) Trade receivables |
86.515 |
54.944 |
73.377 |
|
(d) Cash and cash equivalents |
18.985 |
13.069 |
12.558 |
|
(e) Short-term loans and
advances |
3.699 |
1.338 |
0.751 |
|
(f) Other current assets |
0.986 |
0.146 |
0.000 |
|
Total
Current Assets |
208.998 |
175.034 |
148.192 |
|
|
|
|
|
|
TOTAL |
210.949 |
177.476 |
149.292 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
307.540 |
286.600 |
280.125 |
|
|
Other Income |
1.153 |
0.666 |
0.762 |
|
|
TOTAL
(A) |
308.693 |
287.266 |
280.887 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
287.897 |
319.384 |
281.869 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
6.725 |
(44.032) |
(10.669) |
|
|
Employees benefits expense |
1.056 |
1.824 |
1.374 |
|
|
Other expenses |
3.046 |
2.519 |
2.019 |
|
|
TOTAL
(B) |
298.724 |
279.695 |
274.593 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
9.969 |
7.571 |
6.294 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.016 |
5.966 |
5.265 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.953 |
1.605 |
1.029 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.566 |
0.316 |
0.227 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.387 |
1.289 |
0.802 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.450 |
0.404 |
0.299 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.937 |
0.885 |
0.503 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.73 |
3.53 |
2.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
Net Profit Margin |
(%) |
0.30 |
0.31 |
0.18 |
|
|
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
3.24 |
2.64 |
2.25 |
|
|
|
|
|
|
|
|
|
Return on Total Assets |
(%) |
0.66 |
0.73 |
0.54 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) |
|
0.04 |
0.04 |
0.03 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
|
0.98 |
0.95 |
0.87 |
|
|
|
|
|
|
|
|
|
Current Ratio |
|
1.25 |
1.29 |
1.28 |
|
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 |
1.755 |
2.510 |
2.510 |
|
Reserves & Surplus |
23.844 |
33.418 |
34.356 |
|
Net
worth |
25.599 |
35.928 |
36.866 |
|
|
|
|
|
|
long-term borrowings |
5.000 |
5.704 |
6.414 |
|
Short term borrowings |
19.975 |
28.602 |
29.634 |
|
Total
borrowings |
24.975 |
34.306 |
36.048 |
|
Debt/Equity
ratio |
0.976 |
0.955 |
0.978 |
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) |
|
Sales |
280.125 |
286.600 |
307.540 |
|
|
|
2.311 |
7.306 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
280.125 |
286.600 |
307.540 |
|
Profit |
0.503 |
0.885 |
0.937 |
|
|
0.18% |
0.31% |
0.30% |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Long Term Loans
– Others |
|
|
|
Karnal H O |
|
|
|
Dinesh Kumar Goyal |
0.220 |
0.000 |
|
Neeru |
0.250 |
0.000 |
|
Radha Rani |
0.900 |
0.000 |
|
Sanjay Kumar |
0.190 |
0.000 |
|
Saurabh BAnsal |
0.222 |
0.000 |
|
Savita Goyal |
0.630 |
0.000 |
|
Shashi Bansal |
0.180 |
0.000 |
|
Shilpa Bansal |
0.050 |
0.000 |
|
Subhash Chand Bansal |
0.165 |
0.000 |
|
Usha Rani |
0.205 |
0.000 |
|
Gandhidham B O |
|
|
|
Rohit Bansal |
0.204 |
0.000 |
|
Bajrang Sharma |
0.228 |
0.000 |
|
Sushant Garg |
0.204 |
0.000 |
|
Ramesh Jain |
0.297 |
0.000 |
|
|
|
|
|
Total |
3.945 |
0.000 |
CORPORATE
INFORMATION
Company is engaged in the business of Wholesale and Retail Trading of
Timber. The registered office of the company is situated at Timber Market,
Karnal and Company’s Branch office is Situated at GAndhidham.
REVIEW OF
OPERATION
The sale during the year was Rs. 307.540 Millions as compared to Rs.
286.600 Millions during the previous year. The net profit for the year has been
Rs. 1.387 Millions as against Rs. 1.290 Millions during the previous year. The
directors are continuously looking for avenues for future growth.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10084850 |
20/03/2013 * |
151,000,000.00 |
STATE BANK OF INDIA |
MAIN BRANCH, SHAKTI COLONY, KARNAL,
HARYANA – 132 001, INDIA |
B73162398 |
|
* Date of
charge modification |
||||||
FIXED ASSETS
·
Building
·
Air conditioner
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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 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.62.13 |
|
|
1 |
Rs.95.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--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 |
|
29 |
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.