MIRA INFORM REPORT

 

 

Report No. :

330128

Report Date :

06.07.2015

 

IDENTIFICATION DETAILS

 

Name :

ADARSH STAINLESS PRIVATE LIMITED

 

 

Registered Office :

21-23, Mangal Arcade, 2nd Floor, Telco Road, Chinchwad, Pune – 411 019, Maharashtra

Tel. No.:

91-20-27441703

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.03.2008

 

 

Com. Reg. No.:

25-131683

 

 

Capital Investment / Paid-up Capital :

Rs. 30.207 Million

 

 

CIN No.:

[Company Identification No.]

U27100PN2008PTC131683

 

 

IEC Code :

3108007823

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEA10790D

 

 

PAN No.:

[Permanent Account No.]

AAGCA9112L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of Ferrous and Non Ferrous Metals and also in Power Trading.

 

 

No. of Employees :

25 (Approximately)

 

 

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

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 2008 having a moderate track record.

 

The rating reflects company moderate financial risk profile marked by low reserves level of the company and huge borrowings recorded by 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Rupali Deshmukh

Designation :

Banking Finance Department

Contact No.:

91-20-27441704

Date :

04.07.2015

 

 

LOCATIONS

 

Registered Office :

21-23, Mangal Arcade, 2nd Floor, Telco Road, Chinchwad, Pune – 411 019, Maharashtra, India

Tel. No.:

91-20-27441703 / 4 / 5

Fax No.:

91-20-27441706

E-Mail :

info@jainchoudhary.com

adarshstainlesspvtltd@gmail.com

mail@aspl.net.in

Website :

http://www.adarshstainless.com

 

 

Branch Office :

5th Floor, Moti Manison Building, 5th Khetwadi, Back Road, Mumbai – 400 004, Maharashtra, India

 

 

Godown :

Gala No. D 7, Ground Floor, D – Building, Shree Minisurvat Complex, H. No. – 121417, Rehnal Bhiwani – 421302, Maharashtra, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Lalit Parasmalji Mehta

Designation :

Director

Address :

502, 5th Floor, Akash Deep, Vitthaabhai Patel Road, Topiwalawadi, Girgaon,, Mumbai, 400004, Maharashtra, India

Date of Birth/Age :

21.12.1977

Date of Appointment :

26.03.2008

PAN No.:

AFOPM2324N

DIN No.:

01251850

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74900MH1999PTC260853

SHREE YASH STAINLESS PRIVATE LIMITED

Director

01/05/2004

01/05/2004

-

Active

NO

2

U29299PN2007PTC129594

DGM TUBES PRIVATE LIMITED

Director

10/02/2007

10/02/2007

24/11/2014

Active

NO

3

U27100PN2008PTC131683

ADARSH STAINLESS PRIVATE LIMITED

Director

26/03/2008

26/03/2008

-

Active

NO

4

U45201RJ2007PTC024148

OCEAN REALMART PRIVATE LIMITED

Director

06/09/2011

06/09/2011

-

Active

NO

 

 

Name :

Mr. Nirav Jayantilal Shah

Designation :

Director

Address :

1st Floor, Satyapur Appartment,, Opp Mahavir Flats, Ramnagar, Sabarmati, Ahmedabad, 380005, Gujarat, India

Date of Birth/Age :

28.07.1985

Date of Appointment :

30.09.2014

PAN No.:

AZTPS8130R

DIN No.:

06948649

 

 

KEY EXECUTIVES

 

Name :

Ms. Rupali Deshmukh

Designation :

Banking Finance Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Lalit Parasmalji Mehta

1448300

Sheela Lalit Mehta

1151938

Ashish Hiralal Chopra

88

Jabarmal Moolchandji Jain

418

Lalit Parasmal Mehta (HUF)

1709418

Nirav Jayantilal Shah

125

Parasmalji Devichandji Mehta

209418

Parasmal Devichandji Mehta (HUF)

418

Kamlesh Manohar Kanungo

42

Kamlesh Manohar Kanungo (HUF)

42

Dilip Bhemraj Jain

42

Pastaben Chagganlal Mehta

42

Kinjal Mahendra Mehta

42

Hoshiyar Pukhraj Sanghvi

22

Nirmala Jabarmal Jain

220

Ramesh Haansraj Angara

22

Seema Vikaram Jain

20

Rameshchandra Tejraj Bokadia

20

Chandrakala Babulal Bora

22

Ramesh Bastimal Jain

22

Nilesh Hastimal Jain

22

Dhruv Sisodiya

22

Mehendra Singh Sisodiya

22

Total

 

4520747

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

99.97

Other top fifty shareholders

0.03

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Ferrous and Non Ferrous Metals and also in Power Trading.

 

 

Products :

·         Metal Scraps

·         Stainless Steel Scraps

·         Pipes and Tubes

·         Stainless Steel Wire Rods

·         Round Bar and Billet

·         Plates and Sheets

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

 

Products :

Raw Materials

Countries :

·         UK

·         Japan

·         China

 

 

Terms :

 

Selling :

Cash and Advance Payments

 

 

Purchasing :

Cash and Advance Payments

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Arihant Steel Export

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End Users

 

Reference:

Sikkim Ferrous Alloy

Name of the Person (Designation):

--

Contact Number:

91-22-67377000 (Ringing)

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Bank Name:

Yes Bank Limited

Branch:

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         UCO Bank, Worli, Mumbai – 400018, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from banks

0.072

1.013

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

79.689

59.081

Total

 

79.761

60.094

 

Banking Relations :

--

 

 

Auditors :

 

Name :

P Bora and Jain Chartered Accountants

Chartered Accountants

Address :

215,Gold Mohu Building, 174, Princess Street Kalabadevi, Mumbai – 400002, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAIFJ8525D

 

 

Associates:

·         Shreeyash Stainless Private Limited

·         DGM Tubes Private Limited (U29299PN2007PTC129594)

 

 

 

 

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2014

 

Authorised Capital : Rs. 100.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 70.207 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10,000,000

Equity Shares

Rs. 10/- each

Rs. 100.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,020,747

Equity Shares

Rs. 10/- each

Rs. 30.207 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

30.207

30.207

7.594

(b) Reserves & Surplus

16.374

6.525

9.495

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

15.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

61.581

36.732

17.089

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

183.060

176.211

173.697

(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)

183.060

176.211

173.697

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

79.689

59.081

100.997

(b) Trade payables

144.210

113.000

192.401

(c) Other current liabilities

6.406

6.482

5.161

(d) Short-term provisions

5.308

3.850

6.010

Total Current Liabilities (4)

235.613

182.413

304.569

 

 

 

 

TOTAL

480.254

395.356

495.355

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

10.095

9.325

7.478

(ii) Intangible Assets

3.105

3.798

0.109

(iii) Capital work-in-progress

0.000

0.000

1.213

(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)

0.303

0.110

0.042

(d)  Long-term Loan and Advances

0.000

0.000

2.706

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

13.503

13.233

11.548

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

53.122

33.870

63.222

(c) Trade receivables

387.014

309.985

377.397

(d) Cash and cash equivalents

0.907

0.317

0.202

(e) Short-term loans and advances

25.708

37.951

42.986

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

466.751

382.123

483.807

 

 

 

 

TOTAL

480.254

395.356

495.355

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

TOATAL REVENUE

1887.329

1735.929

1296.294

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

1872.573

1725.778

1229.670

 

 

 

 

 

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

 

 

15.737

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(Including Financial and Depreciation)

(Including Financial and Depreciation)

50.887

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

 

43.358

 

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

14.756

10.151

7.529

 

 

 

 

 

Less

TAX                                                                 

4.907

4.008

0.425

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

9.849

6.143

7.104

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.26

2.03

9.35

 

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

2300.000

 

 

 

 

 

The above information has been parted by Ms. Rupali Deshmukh (Banking Financial Department).

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.452

1.432

NA

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.07

2.57

1.52

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.28

0.44

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

4.27

6.44

16.07

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.98

2.09

1.59

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

7.594

30.207

30.207

Reserves & Surplus

9.495

6.525

16.374

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

15.000

Net worth

17.089

36.732

61.581

 

 

 

 

Long-term borrowings

173.697

176.211

183.060

Short term borrowings

100.997

59.081

79.689

CURRENT MATURITIES OF LONG-TERM DEBTS

0.000

1.432

0.452

Total borrowings

274.694

236.724

263.201

Debt/Equity ratio

16.074

6.445

4.274

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Revenue 

1296.294

1735.929

1887.329

 

 

33.915

8.722

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Revenue 

1296.294

1735.929

1887.329

Profit

7.104

6.143

9.849

 

0.55%

0.35%

0.52%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10237192

09/08/2010

38,400,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI, MUMBAI - 
400018, MAHARASHTRA, INDIA

A93686384

2

10207990

18/09/2014 *

150,000,000.00

YES BANK LIMITED

NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. 
ANNIE BESANT ROAD, WORLI, MUMBAI - 4 
00018, MAHARASHTRA, INDIA

C28757193

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Loans and advances from directors

7.364

21.876

Loans and advances from others

175.624

153.322

Total

 

182.988

175.198


FIXED ASSETS:

 

Tangible assets

 

·         Land

·         Buildings

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Other Equipment’s

 

Intangible assets

 

·         Computer software

·         Copyrights, patents and other operating rights

 

 

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.63.40

UK Pound

1

Rs.98.94

Euro

1

Rs.70.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

2

--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

YES

--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

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NB

                                       New Business

 

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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.