MIRA INFORM REPORT

 

 

Report No. :

308893

Report Date :

23.02.2015

 

IDENTIFICATION DETAILS

 

Name :

W B ENGINEERS INTERNATIONAL PRIVATE LIMITED

 

 

Registered Office :

3, Property No.480, Village Shikrapur, Taluka Shirur, Pune- 412208, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

04.12.1980

 

 

Com. Reg. No.:

11-023521

 

 

Capital Investment / Paid-up Capital :

Rs. 42.620 Millions

 

 

CIN No.:

[Company Identification No.]

U29212PN1980PTC023521

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Exporter and Manufacturer agricultural, construction and earthmoving equipment. 

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (11)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

 

 

Payment Behaviour :

Slow and delayed

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having poor track record.

 

The company has incurred huge accumulated losses which has eroded net worth of the company. Liquidity position of the company is under pressure.

 

Our executive had word with Mr. Vivek Bhatia (Working with the subject company 5 Years /back) and he claimed that the subject company is in default with “Bank of Maharashtra” for non-payment of Cash Credit facility.

 

Payment are reported to be slow and delayed.

 

In view of poor track record, the company can be considered for business dealing on a fully secured trade terms and condition.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

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 DENIED BY

 

Name :

Mr. Vivek Bhatia

Designation :

5 Years Pervious Employee

Contact No.:

91-9665642722

Date :

20.02.2015

 

 

LOCATIONS

 

Registered Office :

3, Property No.480, Village Shikrapur, Taluka Shirur, Pune- 412208, Maharashtra

Tel. No.:

91-20-30581800/ 30581801

Fax No.:

91-20-30581700

E-Mail :

wbengineers@gmail.com

accounTs@wbengineers.com

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mrs. Marietta Barreto

Designation :

Chairman cum Managing Director

Address :

Flat No.1, 116, Hill Lane, London, NW 6, INF, England

Date of Birth/Age :

13.08.1958

Date of Appointment :

01.05.1990

DIN No.:

00943406

 

 

Name :

Mr. Brian Wilfred Barreto

Designation :

Director

Address :

527, S, Hobart BLVD, Apartment No.202, Los Angeles, California 90020

Experience :

10.05.1967

Date of Appointment :

08.03.2002

DIN No.:

00691395

 

 

Name :

Mr. Garard Duggan

Designation :

Director

Address :

3 E, 2 Settur Manor, No.2, Sivaswmay Street Dr. Radhakrishannan Salai, Chennai-60004, Tamilnadu, India

Date of Birth/Age :

15.02.1953

Date of Appointment :

20.06.2012

DIN No.:

01661905

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Maria Barreto

 

1800

Mrs. Marietta Barreto

 

416498

Mr. Brian Wilfred Barreto

 

1300

Yvetta Barreto

 

1300

Maria Isabel Barreto

 

1300

Karl Barreto

 

1300

Analisa Barreto

 

1300

Jacqueline Barreto

 

1300

Ramchandra Kuppuswami

 

100

Total

 

426198

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

99.98

Other top fifty shareholders

0.02

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Exporter and Manufacturer agricultural, construction and earthmoving equipment. 

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

 

Banker Name :

Bank of Maharashtra

Branch Address :

Industrial Finance Branch, Yashomangal, 1183/A, F.C. Road, Pune - 411005,Maharashtra, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Banker Name :

ABN Amro Bank N V

Branch Address :

M G ROAD, CAMP, PUNE - 411001,

Maharashtra, INDIA

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Millions)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Term loans from banks

74.713

89.073

 

 

 

Short Term Borrowing

 

 

Loans repayable on demand

 

 

from banks - CC BOM IFB 20000721580

36.478

36.478

Total

111.191

125.551

 

Auditors :

 

Name :

Jayant K Kulkarni

Chartered Accountant

Address :

A-5, Gowaikar Building Society, 595, Shaniwar Peth, Pune- 411030, Maharashtra, India

Tel. No.:

91-20 24450677

Mobile No.:

91- 9822034288

E-Mail :

cajayantkulkarni@gmail.com 

PAN No.:

ACDPK5254D

 

 

Memberships :      

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Divulged

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.50.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

426198

Equity Shares

Rs.100/- each

Rs.42.619 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

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

42.620

42.620

42.620

(b) Reserves & Surplus

(202.259)

(144.892)

(122.665)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

10.000

10.000

10.000

Total Shareholders’ Funds (1) + (2)

(149.639)

(92.272)

(70.045)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

115.247

128.105

154.456

(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

1.825

1.825

2.186

Total Non-current Liabilities (3)

117.072

129.930

156.642

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

37.378

37.378

37.597

(b) Trade payables

8.132

6.994

12.804

(c) Other current liabilities

26.022

26.304

31.991

(d) Short-term provisions

6.087

5.754

11.189

Total Current Liabilities (4)

77.619

76.430

93.581

 

 

 

 

TOTAL

45.052

114.088

180.178

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3.032

70.599

91.330

(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

0.008

0.008

0.008

(c) Deferred tax assets (net)

1.658

1.658

1.658

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.444

Total Non-Current Assets

4.698

72.265

93.440

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2.215

2.173

34.662

(c) Trade receivables

14.803

16.389

16.678

(d) Cash and cash equivalents

2.225

2.855

2.510

(e) Short-term loans and advances

19.599

18.853

25.350

(f) Other current assets

1.512

1.553

7.538

Total Current Assets

40.354

41.823

86.738

 

 

 

 

TOTAL

45.052

114.088

180.178

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

 

Other Income

 

 

 

 

 

TOTAL                                    

1.101

6.382

39.279

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Office Expenses

 

 

 

Administrative Expenses

 

 

 

 

 

Exceptional Items

 

 

 

 

 

TOTAL                                    

57.979

17.316

77.664

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

(56.878)

(10.934)

(38.385)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.489

11.292

(14.786)

 

 

 

 

 

 

PROFIT BEFORE TAX

(57.367)

(22.226)

(38.569)

 

 

 

 

 

Less

TAX                                                                 

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT AFTER TAX

(57.367)

(22.226)

(38.569)

 

 

 

 

 

 

Earnings Per Share (Rs.)

(134.60)

(52.15)

(90.50)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(5210.45)

(348.26)

(98.19)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(132.22)

(19.77)

(21.61)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.38

0.24

0.55

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

(1.02)

(1.79)

(2.74)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.52

0.55

0.93

 

 

 

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

42.620

42.620

42.620

Reserves & Surplus

(122.665)

(144.892)

(202.259)

Share Application money pending allotment

10.000

10.000

10.000

Net worth

(70.045)

(92.272)

(149.639)

 

 

 

 

long-term borrowings

154.456

128.105

115.247

Short term borrowings

37.597

37.378

37.378

Total borrowings

192.053

165.483

152.625

Debt/Equity ratio

(2.742)

(1.793)

(1.020)

 

 

 

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)

Sales

39.279

6.382

1.101

 

 

(83.752)

(82.748)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

39.279

6.382

1.101

Profit

(38.569)

(22.226)

(57.367)

 

(98.19%)

(348.26%)

(5210.45%)

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE

 

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

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

Yes

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

 

 

LITIGATION DETAILS

 

Case Details

Case Type

Spl  .Dkst

Filing No.

207531 / 2013     Filing date : 19-12-2013

Registration No.

200006 / 2014     Registration date : 04.01.2014

Case Code

204802075312013

 

CASE STATUS

First Hearing Date

16.01.2014

Next Hearing Date

09.03.2015

Purpose of Hearing

Admission and Denial

Court No & Judge

8 – 5th JT. CJSD And ADDL. C.J.M. Pune.

 

Petitioner(s) & Advocate(s)

Petitioner – M/s. Kabragi Associates

Address – 78, Lulla Nagar, Pune – 40

Advocate – Irani M.K.

 

Respondent(s) & Advocate(s)

Respondent – WB Engineers International Pvt. Ltd. 

Address – White Flint Nest, Plot 11, North Main Road., Koregoan park, Pune – 411001

Advocate -

 

ACTS

Under Act(s)

Civil Procedure Codes

Under Section(s)

0

subject

 

 

 

 

LOWER COURT INFORMATION

Court No & Name

---

Case No & Year

---

Case Decision Date

---

 

 

(Rs. In Millions)

UNSECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Loans and advances from related parties

 

 

Loan from K. Ramchandra (Director)

0.481

0.481

Loan from Marietta Barreto (Director)

40.053

38.551

Short Term Borrowing

 

 

Loans and advances from related parties

0.900

0.900

Total

41.434

39.932

 

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10244615

28/03/2014 *

50,000,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina, Mumbai, Maharashtra - 400098, INDIA

C40108847

2

10163203

28/03/2014 *

41,100,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina, Mumbai, Maharashtra - 400098, INDIA

C40108292

3

10159417

28/03/2014 *

56,000,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina, Mumbai, Maharashtra - 400098, INDIA

C40351298

4

10156126

18/04/2009

351,000.00

KOTAK MAHINDRA BANK LIMITED

36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT,, M 
UMBAI, Maharashtra - 400021, INDIA

A61817839

5

10102424

28/03/2014 *

36,200,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina, Mumbai, Maharashtra - 400098, INDIA

C40349144

6

10091378

12/02/2008

77,000,000.00

ORIENTAL BANK OF COMMERCE

917/918, SYNAGOGUE STREET, DINSHAW HOUSE, NEAR 
GITA SOCIETY, CAMP,, PUNE, Maharashtra - 411001, INDIA

A33813775

7

10075487

28/03/2014 *

3,000,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina,, Mumbai, Maharashtra - 400098, INDIA

C40107732

8

10025441

28/03/2014 *

10,025,441.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina,, Mumbai, Maharashtra - 400098, INDIA

C37179827

9

10025442

28/03/2014 *

42,175,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina,, Mumbai, Maharashtra - 400098, INDIA

C40107047

10

10012464

28/03/2014 *

73,100,000.00

Edelweiss Asset Reconstruction Company Limited

Edelweiss House, Off. C.S.T Road,, Kalina,, Mumbai, Maharashtra - 400098, INDIA

C40106403

 

* Date of charge modification

 

 

FIXED ASSETS

  • Land
  • Buildings
  • Plant and Equipment
  • Furniture and Fixtures
  • Vehicles
  • Software Package
  • Office equipment
  • Computers

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.62.18

UK Pound

1

Rs.95.70

Euro

1

Rs.70.75

 

 

INFORMATION DETAILS

 

Information Gathered by :

GAY

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

1

--RESERVES

1~10

--

--CREDIT LINES

1~10

--

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

 

11

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.