MIRA
INFORM REPORT
|
Report No. : |
306862 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAM KARAN FLOUR MILL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-238, Shastri Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.12.2002 |
|
|
|
|
Com. Reg. No.: |
118231 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.840 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15311DL2002PTC118231 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR12388F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR8529A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Wheat Flour and Chakki Atta. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 22263 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is very low during FY2013-14. However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The concern can be considered for small 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Manish Goel |
|
Designation : |
Director |
|
Contact No.: |
91-9212550628 |
|
Date : |
11.02.2015 |
LOCATIONS
|
Registered Office : |
A-238, Shastri Nagar, New Delhi – 110052, India |
|
Tel. No.: |
941-22-27781261/ 27787136 |
|
Mobile No.: |
91-9212550628 (Mr. Manish Kumar Goel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
D-1582, Dsidc, Narela, Delhi - 110040, India |
|
Area : |
420 Sq. Ft |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Manish Kumar Goel |
|
Designation : |
Director |
|
Address : |
A-238, Shastri Nagar, New Delhi 110052 Delhi |
|
Date of Birth/Age : |
01.08.1981 |
|
Date of Appointment : |
30.12.2002 |
|
DIN No.: |
00217774 |
|
|
|
|
Name : |
Ram Karan Goel |
|
Designation : |
Director |
|
Address : |
A-238, Shastri Nagar, New Delhi 110052 Delhi |
|
Date of Birth/Age : |
14.10.1955 |
|
Date of Appointment : |
30.12.2002 |
|
DIN No.: |
00217721 |
|
|
|
|
Name : |
Amit Goel |
|
Designation : |
Director |
|
Address : |
A-238, Shastri Nagar, New Delhi 110052 Delhi |
|
Date of Birth/Age : |
21.09.1978 |
|
Date of Appointment : |
30.12.2002 |
|
DIN No.: |
00217819 |
|
|
|
|
Name : |
Rekha Goel |
|
Designation : |
Director |
|
Address : |
A-238, Shastri Nagar, New Delhi 110052 Delhi |
|
Date of Birth/Age : |
19.04.1952 |
|
Date of Appointment : |
30.12.2002 |
|
|
|
|
Name : |
Hitender Goel |
|
Designation : |
Director |
|
Address : |
A-238, Shastri Nagar, New Delhi 110052 Delhi |
|
Date of Birth/Age : |
05.01.1985 |
|
Date of Appointment : |
01.03.2014 |
|
DIN No.: |
06830301 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Manish Kumar Goel |
|
86400 |
|
Ram Karan Goel |
|
72000 |
|
Rekha Goel |
|
23100 |
|
Deepak Goyal |
|
4000 |
|
Sadhna Gupta |
|
9000 |
|
Babita Bansal |
|
10000 |
|
Hitender Goel |
|
154000 |
|
Nitu Goel |
|
6000 |
|
Sunita Goel |
|
5500 |
|
Manish Kumar Goel and Sons (Huf) |
|
22500 |
|
Ram Karan Goel and Sons (Huf) |
|
20000 |
|
Hitender Goel and Sons (Huf) |
|
15000 |
|
Total |
|
427500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Name
of Shareholders |
No.
of Shares |
%age
holding |
|
Directors or relatives of
Directors |
100 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wheat Flour and Chakki Atta. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment |
|
|
|
|
Purchasing : |
Cash, Advance Payment |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
15 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjeev Rameshwar and Company Chartered Accountants |
|
Address : |
B-4/3 15/A, Keshav Puram, Delhi – 110035, India |
|
Tel. No.: |
91-11-47512157/ 27180472 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABHPG0948F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
427500 |
Equity Shares |
Rs.10/- each |
Rs.4.275
Millions |
|
|
|
|
|
TERMS/RIGHTS ATTACHED TO EQUITY SHARES
The Company has
only one class of equity shares having a par value of ` 10 per share. Each
holder of equity shares is entitled to one vote per share. In the event of
liquidation of the company, the holder of equity shares will be entitled to
receive remaining assets of the company.
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.275 |
4.275 |
4.275 |
|
(b) Reserves & Surplus |
0.952 |
0.645 |
0.331 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
2.565 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7.792 |
4.920 |
4.606 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.528 |
5.186 |
0.713 |
|
(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) |
0.528 |
5.186 |
0.713 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.408 |
0.876 |
1.679 |
|
(c) Other current liabilities |
0.795 |
0.040 |
1.354 |
|
(d) Short-term provisions |
0.267 |
0.182 |
0.153 |
|
Total
Current Liabilities (4) |
1.470 |
1.098 |
3.186 |
|
|
|
|
|
|
TOTAL |
9.790 |
11.204 |
8.505 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.133 |
2.757 |
2.745 |
|
(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) |
0.332 |
0.305 |
0.270 |
|
(d) Long-term Loan and Advances |
0.145 |
0.145 |
0.126 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2.610 |
3.207 |
3.141 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4.594 |
2.953 |
0.948 |
|
(c) Trade receivables |
0.947 |
2.023 |
0.375 |
|
(d) Cash and cash equivalents |
1.384 |
1.018 |
3.068 |
|
(e) Short-term loans and
advances |
0.255 |
2.003 |
0.973 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
7.180 |
7.997 |
5.364 |
|
|
|
|
|
|
TOTAL |
9.790 |
11.204 |
8.505 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
220.294 |
207.812 |
|
|
|
Other Income |
NA |
NA |
|
|
|
TOTAL
|
NA |
NA |
139.755 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
200.615 |
190.220 |
|
|
|
Employees benefits expense |
2.110 |
2.164 |
|
|
|
Other expenses |
15.408 |
13.531 |
|
|
|
TOTAL
|
218.133 |
205.915 |
139.491 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
NA |
NA |
0.264 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
0.786 |
0.643 |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
0.264 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.648 |
0.693 |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.750 |
0.588 |
0.264 |
|
|
|
|
|
|
|
Less |
TAX |
0.443 |
0.274 |
0.086 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.307 |
0.314 |
0.178 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.645 |
0.331 |
0.153 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
0.952 |
0.645 |
0.331 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.19 |
0.73 |
0.42 |
Expected Sales (2014-15) : Rs.220.000 Millions
The above information has been parted / denied by Mr. Manish Goel
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.14
|
0.15 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.66
|
5.25 |
3.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.12 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07
|
1.05 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.88
|
7.28 |
1.68 |
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 |
4.275 |
4.275 |
4.275 |
|
Reserves & Surplus |
0.331 |
0.645 |
0.952 |
|
Net
worth |
4.606 |
4.920 |
5.227 |
|
|
|
|
|
|
long-term borrowings |
0.713 |
5.186 |
0.528 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.713 |
5.186 |
0.528 |
|
Debt/Equity
ratio |
0.155 |
1.054 |
0.101 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
207.812 |
220.294 |
|
|
|
#DIV/0! |
6.006 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
|
207.812 |
220.294 |
|
Profit |
|
0.314 |
0.307 |
|
|
|
0.15% |
0.14% |
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 |
Yes |
|
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 |
Yes |
|
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) |
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 LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
From Others |
0.240 |
0.740 |
|
Total |
0.240 |
0.740 |
REVIEW OF OPERATION
During the year
under review the company has earned the Profit of Rs.0.749 Million before tax
in comparison to profit of Rs.0.588 Million before tax of the previous year.
The Directors are continuously looking for avenues for future growth of the
company.
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Tata (709)
·
Tata ( 410 )
·
Tata (407)
·
Generator
·
Weighing Machine
·
Fire Extinguisher
·
Moisture Meter
·
Mobile
·
Computer
·
Car
·
Fridge
·
Tata Eicher C.C. Camera
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 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.62.20 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.