MIRA INFORM REPORT
|
Report No. : |
303444 |
|
Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
OCEANIC PHARMACHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
329, A-Z Industrial Estate, G Kadam Marg, Lower Parel (West), Mumbai –
400 013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.05.1997 |
|
|
|
|
Com. Reg. No.: |
11-107746 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1997PTC107746 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO04714D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3146Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the Business of Export of Organic
and Inorganic Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. As per ROC the date of balance sheet (i.e, financial filed) is shown
as 31.03.2014 but the documents related to the financial for the year 2014 are
not available from any sources. As per available financial of 2013, there seems a growth in the
turnover and profit of the company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but 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 |
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.
LOCATIONS
|
Registered Office/ Factory : |
329, A-Z Industrial Estate, G Kadam Marg, Lower Parel (West), Mumbai –
400 013, Maharashtra, India |
|
Tel. No.: |
91-22-24921664 / 24921669/ 24921711 / 42128666 / 66370543 |
|
Fax No.: |
91-22-24950364 / 66608535 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Rented |
|
|
|
|
Branch Office : |
6-3-850/1/501, (4/4RT), Sirisha Plaza, Ameerpet, Hyderabad – 500 016,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-40202035 |
|
Fax No.: |
91-40-40202036 |
|
|
|
|
Marketing Office
: |
261, A-Z Industrial Estate, G Kadam Marg, Lower Parel (West), Mumbai –
400 013, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Jayesh Jethalal Shah |
|
Designation : |
Director |
|
Address : |
Flat No.6, 2nd Floor, Mazda Chaman, 13 Darratray Road,
Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
08.01.1951 |
|
Date of Appointment : |
02.05.1997 |
|
DIN No.: |
01043446 |
|
|
|
|
Name : |
Mrs. Dina Jayesh Shah |
|
Designation : |
Director |
|
Address : |
Flat No.6, 2nd Floor, Mazda Chaman, |
|
Date of Birth/Age : |
10.03.1951 |
|
Date of Appointment : |
02.05.1997 |
|
DIN No.: |
00591536 |
|
|
|
|
Name : |
Mr. Bhavik Jayesh Shah |
|
Designation : |
Director |
|
Address : |
Flat No.6, 2nd Floor, Mazda Chaman, 13 Darratray Road,
Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1980 |
|
Date of Appointment : |
02.04.2007 |
|
DIN No.: |
01178073 |
|
|
|
|
Name : |
Mr. Bansari Jayesh Shah |
|
Designation : |
Director |
|
Address : |
Flat No.6, 2nd Floor, Mazda Chaman, 13 Darratray Road,
Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1981 |
|
Date of Appointment : |
02.04.2007 |
|
DIN No.: |
01178215 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Jayesh J. Shah |
7000 |
28.00 |
|
Dina Jayesh Shah |
3500 |
14.00 |
|
Bhavik Jayesh Shah |
7500 |
30.00 |
|
Bansari J Shah |
7000 |
28.00 |
|
Total |
25000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in the business of Export of Organic
and Inorganic Chemicals. |
|
|
|
|
Products : |
·
Bulk Drug Intermediates ·
APLs ·
Veterinary Products ·
Specialty Chemicals ·
Pellets ·
Formulations ·
Impurities ·
Herbal Products |
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|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Bank of Maharashtra, Santacruz (West) Branch, Poddar Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India · State bank of India · HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
S. S. Damania and Company Chartered Accountant |
|
Address : |
321/325, Oomrigar Building, 115 Carnac Road, Crawford Market, Mumbai –
400003, Maharashtra, India |
|
Tel. No.: |
91-22-66370543, 23400928 |
|
Fax No.: |
91-22-23400928 |
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E-Mail : |
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PAN No. : |
AACPD5623L |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs. 100/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs. 100/- each |
Rs.2.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
83.713 |
24.412 |
12.822 |
|
(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) |
86.213 |
26.912 |
15.322 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
23.821 |
7.070 |
7.120 |
|
(b) Deferred tax liabilities (Net) |
0.141 |
0.055 |
0.059 |
|
(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) |
23.962 |
7.125 |
7.179 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
28.223 |
18.032 |
15.750 |
|
(b) Trade
payables |
105.609 |
19.337 |
12.968 |
|
(c) Other
current liabilities |
5.584 |
0.320 |
1.697 |
|
(d) Short-term
provisions |
34.010 |
9.075 |
3.515 |
|
Total Current
Liabilities (4) |
173.426 |
46.764 |
33.930 |
|
|
|
|
|
|
TOTAL |
283.601 |
80.801 |
56.431 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.666 |
1.960 |
2.237 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4.666 |
1.960 |
2.237 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
46.043 |
0.627 |
13.738 |
|
© Trade
receivables |
102.588 |
34.593 |
6.970 |
|
(d) Cash
and cash equivalents |
74.760 |
37.004 |
26.241 |
|
(e)
Short-term loans and advances |
55.544 |
6.617 |
7.245 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
278.935 |
78.841 |
54.194 |
|
|
|
|
|
|
TOTAL |
283.601 |
80.801 |
56.431 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
672.399 |
243.180 |
184.838 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
583.666 |
225.522 |
177.416 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
86.303 |
17.658 |
7.422 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.897 |
0.504 |
0.376 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
87.200 |
17.154 |
7.046 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
27.899 |
5.564 |
2.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
59.301 |
11.590 |
4.809 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2372.04 |
463.60 |
192.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.75
|
21.22
|
12.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.01
|
0.63
|
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60
|
0.93
|
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.68
|
1.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
12.822 |
24.412 |
83.713 |
|
Net
worth |
15.322 |
26.912 |
86.213 |
|
|
|
|
|
|
long-term borrowings |
7.120 |
7.070 |
23.821 |
|
Short term borrowings |
15.750 |
18.032 |
28.223 |
|
Total
borrowings |
22.870 |
25.102 |
52.044 |
|
Debt/Equity
ratio |
1.493 |
0.933 |
0.604 |
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 |
184.838 |
243.180 |
672.399 |
|
|
|
31.564 |
176.503 |
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 |
184.838 |
243.180 |
672.399 |
|
Profit |
4.809 |
11.590 |
59.301 |
|
|
2.60% |
4.77% |
8.82% |
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 |
No |
|
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 |
NOTE: Registered Office of the company has been shifted from Mazda Chaman, Plot
No.6 – B, Dattatray Road, Santacruz West, Mumbai – 400 054, Maharashtra, India
to the present address w.e.f. 02.04.2007.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loan and advance
from related parties |
|
|
|
Jayesh J Shah |
4.333 |
0.794 |
|
Bhavik J Shah |
5.530 |
1.414 |
|
Bansari J Shah |
8.376 |
1.846 |
|
Dina J Shah |
5.006 |
3.016 |
|
Meghana Shah |
0.576 |
0.000 |
|
Short Term
Borrowing |
|
|
|
Loan and advance from related parties |
0.047 |
0.061 |
|
|
|
|
|
Total |
23.867 |
7.131 |
ACTIVITIES:
During the year, subject was able to achieve a very good growth by
attaining a turnover Rs.672.399 Millions from previous year’s turnover Rs.243.181
Millions. Subject is trying to explore the foreign market and hopes to expand
its activities in diverse field.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10090280 |
10/07/2008 * |
55,000,000.00 |
BANK OF MAHARASHTRA |
SANTACRUZ (WEST) BRANCH, PODDAR ROAD, SANTACRUZ (WEST), MUMBAI – 400 054, MAHARASHTRA, INDIA |
A41314840 |
* Date of charge modification
FIXED ASSETS:
·
Furniture and Fixture
·
Vehicles
·
Office Equipments
·
Computer
·
LCD
·
Printer
·
Blackberry 8120
·
Blackberry 8820
·
Refrigerator
·
Air Conditioner
·
Water Dispenser
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.61.76 |
|
|
1 |
Rs.94.02 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
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 |
|
44 |
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.