MIRA INFORM REPORT
|
Report Date : |
01.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
UPPAL HOUSING PRIVATE LIMITED |
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|
Formerly Known
as : |
UPPAL HOUSING LIMITED |
|
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Registered
Office : |
5th Floor, South Tower, NBCC Place, Pragati Vihar, Lodhi
Road, New Delhi – 110003 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.02.1991 |
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Com. Reg. No.: |
55-043274 |
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Capital Investment
/ Paid-up Capital : |
Rs.219.319 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1991PTC043274 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELU02112F |
|
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PAN No.: [Permanent Account No.] |
AAACU1786A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of promotion, construction, development and sale of Integrated Township, Residential and Commercial Multistoried Building, Flats, Shopping Malls, IT Parks, SEZs, Luxury apartment etc. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 13500000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered normal 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
CARE |
|
Rating |
Long term bank facilities: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
19.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate of safety and higher credit risk. |
|
Date |
19.03.2014 |
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 DECLINED BY
|
Name : |
Mr. Okesh |
|
Designation : |
Finance Head |
|
Contact No.: |
91-11-41070707 |
|
Date : |
30.12.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
5th Floor, South Tower, NBCC Place, Pragati Vihar, Lodhi
Road, New Delhi – 110003, India |
|
Tel. No.: |
91-11-41070707 |
|
Fax No.: |
91-11-41070708 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Bushan Kumar Uppal |
|
Designation : |
Director |
|
Address : |
N-55, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
26.12.1945 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.02.1991 |
|
DIN No.: |
00042278 |
|
PAN No.: |
AAAPU3998D |
|
|
|
|
Name : |
Mr. Manish Uppal |
|
Designation : |
Managing director |
|
Address : |
N-55, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
16.04.1973 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
22.06.1995 |
|
DIN No.: |
00042219 |
|
PAN No.: |
AAAPU3996P |
|
|
|
|
Name : |
Mr. Kumar Jain |
|
Designation : |
Whole-time director |
|
Address : |
C-7/F-1, Block – C, Dilshad, Garden Shahdara, New Delhi – 110095, India |
|
Date of Birth/Age : |
25.04.1964 |
|
Date of Appointment : |
19.03.2013 |
|
DIN No.: |
02103971 |
KEY EXECUTIVES
|
Name : |
Mr. Okesh |
|
Designation : |
Finance Head |
|
|
|
|
Name : |
Mr. Mridul Gupta |
|
Designation : |
Secretary |
|
Address : |
J-404, Jaipuria Sunrise Green, Indirapuram, Ghaziabad – 201010, Uttar
Pradesh, India |
|
Date of Birth/Age : |
12.02.1989 |
|
Date of Appointment : |
12.01.2013 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Manish Uppal |
20100448 |
91.65 |
|
Roopali Uppal |
617823 |
2.82 |
|
B K Uppal (HUF) |
778497 |
3.55 |
|
Manish Uppal (HUF) |
331675 |
1.51 |
|
Reediima Uppal |
50432 |
0.23 |
|
Narinder Bhasin |
53000 |
0.24 |
|
Total |
21931875 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.76 |
|
Other top fifty shareholders |
0.24 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of promotion,
construction, development and sale of Integrated Township, Residential and Commercial
Multistoried Building, Flats, Shopping Malls, IT Parks, SEZs, Luxury
apartment etc. |
|
|
|
|
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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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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 : |
Sanjay Satpal and Associates Chartered Accountants |
|
Address : |
F-11, Green Park, Extension |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFS7870F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary
Companies: |
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Associates Entities |
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Enterprises owned
or significantly influenced by: |
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key management
personnel or their relatives: |
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Other Related
Party: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56376000 |
Equity Shares |
Rs.10/- each |
Rs. 565.200 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21931875 |
Equity Shares |
Rs.10/- each |
Rs. 219.319
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 |
219.319 |
219.319 |
219.319 |
|
(b) Reserves & Surplus |
4147.103 |
3786.357 |
3576.924 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4366.422 |
4005.676 |
3796.243 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
500.000 |
0.000 |
655.030 |
|
(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 |
4.233 |
3.362 |
2.229 |
|
Total
Non-current Liabilities (3) |
504.233 |
3.362 |
657.259 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3237.607 |
2788.706 |
3377.051 |
|
(b) Trade payables |
55.276 |
117.323 |
37.068 |
|
(c) Other current liabilities |
7461.737 |
8176.351 |
7575.045 |
|
(d) Short-term provisions |
98.194 |
57.502 |
128.063 |
|
Total
Current Liabilities (4) |
10852.814 |
11139.882 |
11117.227 |
|
|
|
|
|
|
TOTAL |
15723.469 |
15148.920 |
15570.729 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
47.300 |
57.633 |
61.574 |
|
(ii) Intangible Assets |
2.597 |
3.606 |
3.969 |
|
(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 |
4074.066 |
4074.716 |
3912.012 |
|
(c) Deferred tax assets (net) |
251.336 |
250.895 |
249.945 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
160.371 |
159.936 |
159.731 |
|
Total
Non-Current Assets |
4535.670 |
4546.786 |
4387.231 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7608.417 |
5871.732 |
7583.688 |
|
(c) Trade receivables |
152.021 |
1043.734 |
1109.534 |
|
(d) Cash and cash equivalents |
185.666 |
576.190 |
157.068 |
|
(e) Short-term loans and
advances |
2929.368 |
2941.105 |
2148.968 |
|
(f) Other current assets |
312.327 |
169.373 |
184.240 |
|
Total
Current Assets |
11187.799 |
10602.134 |
11183.498 |
|
|
|
|
|
|
TOTAL |
15723.469 |
15148.920 |
15570.729 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
4082.100 |
4596.400 |
6125.700 |
|
|
|
|
|
|
|
|
EXPENSES |
3613.400 |
4311.600 |
5510.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
468.700 |
284.800 |
615.700 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
11.600 |
13.600 |
17.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
456.900 |
271.100 |
597.800 |
|
|
|
|
|
|
|
|
TAX |
96.100 |
61.600 |
124.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
360.700 |
209.400 |
473.600 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.16 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.01 |
2.50 |
5.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.07 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
0.70 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
0.95 |
1.01 |
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 |
219.319 |
219.319 |
219.319 |
|
Reserves & Surplus |
3576.924 |
3786.357 |
4147.103 |
|
Net
worth |
3796.243 |
4005.676 |
4366.422 |
|
|
|
|
|
|
long-term borrowings |
655.030 |
0.000 |
500.000 |
|
Short term borrowings |
3377.051 |
2788.706 |
3237.607 |
|
Total
borrowings |
4032.081 |
2788.706 |
3737.607 |
|
Debt/Equity
ratio |
1.062 |
0.696 |
0.856 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
6125.700 |
4596.400 |
4082.100 |
|
|
|
(24.965) |
(11.189) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
6125.700 |
4596.400 |
4082.100 |
|
Profit |
473.600 |
209.400 |
360.700 |
|
|
7.73% |
4.56% |
8.84% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
IN THE HIGH COURT OF DELHI AT NEW DELHI
27.05.2011
Present: Mr.Sanjeev Sabharwal, Advocate for the appellant.
ITA No.77212011
Admit.
The following substantial questions of law arise for consideration:
(i) Whether ITAT/CIT(A) erred in deleting the addition of Rs.91,68,250/- made by the Assessing Officer under Secttion 68 of the Income Tax Act, 1961 on account of accommodation entries?
(ii) Whether ITAT erred in insisting that assessment order on 21.02.2008 should have been framed in amalgamating companies when said companies had already amalgamated on 31.07.2012 with Assesse Company and were no more in existence on the date of the order of assessment?
Filling of paper book is dispensed with
To be listed with ITA No. 55/2007.
Notice of admission shall be served upon the respondent
A K Sikri, J
MAY 27, 2011
M L Mehta, J
Dev
#1
INTRODUCTION
Subject a company registered under Indian Companies Act 1956, incorporated as on 27 th Feb 1991 is a Flagship company of The Uppal Group promoted by Mr. Bushan Kumar Uppal. The company is primarily engaged in the business of promotion, construction, development and sale of Integrated Township, Residential and Commercial Multistoried Building, Flats, Shopping Malls, IT Parks, SEZs, Luxury apartment etc.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10521388 |
08/09/2014 |
300,000,000.00 |
AXIS BANK LTD. |
2ND FLOOR,
STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
C21938147 |
|
2 |
10490269 |
02/05/2014 |
500,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE 169BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA |
C03749876 |
|
3 |
10310863 |
23/07/2013 * |
1,000,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
B84554229 |
|
4 |
80041440 |
14/04/2012 * |
1,550,000,000.00 |
PUNJAB & SIND BANK |
INDUSTRIAL FINANCE
BRANCH, P-18/90, CONNAUGHT CIR |
B38140919 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Vehicles
- Computer equipments
- Bridges roads ports culverts
Intangible assets
- Brands and trade marks
- Trade marks
- Computer software
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.63.33 |
|
|
1 |
Rs.98.58 |
|
Euro |
1 |
Rs.77.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.