MIRA INFORM REPORT
|
Report No. : |
324484 |
|
Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BOTHARA AGRO EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-16, M.I.D.C., Ahmednagar – 414 111, |
|
Tel. No.: |
91-241-2778125 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.08.1994 |
|
|
|
|
Com. Reg. No.: |
11-080577 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.518
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29219PN1994PTC080577 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB03511E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2652D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in
manufacturing and selling of Agro Equipments like PVC Pipes and Fittings. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 394000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
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|
Litigation : |
Clear |
|
|
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|
Comments : |
Subject is an
established company having satisfactory track record. General financial
position of the company seems to be sound and healthy. Trade relations
are fair. Business is active. Payment terms are reported to be usually
correct. The company can
be considered for business dealings at usual 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.
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
|
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
31-03-2013.
INFORMATION DECLINED
Management non-cooperative
(Tel. No.: 91-241-2551932)
LOCATIONS
|
Registered Office/ Factory 1 : |
B-16, M.I.D.C., Ahmednagar – 414 111, |
|
Tel. No.: |
91-241-2778125 |
|
Fax No.: |
91-241-2778125 |
|
E-Mail : |
|
|
Website : |
|
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|
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|
Factory 2 : |
A-13/1/1, M.I.D.C., Ahmednagar – 414 111, |
|
Tel. No.: |
91-241-2551932 |
|
Fax No.: |
91-241-2551624 |
|
|
|
|
Correspondence Address : |
Bothara Compound, Industrial Estate, Nagar Pune Road, Ahmednagar – 414
005, Maharashtra, India |
|
Tel. No.: |
91-241-2551932/ 2551140/
2551466 |
|
Fax No.: |
91-241-2551624 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Manakchand Ghewarchand Bothara |
|
Designation : |
Director |
|
Address : |
Manisha, Opposite Poonam Moti Nagar, Behind Market Yard, Ahmednagar –
414 001, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1942 |
|
Date of Appointment : |
24.08.1994 |
|
DIN No.: |
00111326 |
|
PAN No.: |
AAUPB8111H |
|
|
|
|
Name : |
Mr. Santosh Manakchand Bothara |
|
Designation : |
Director |
|
Address : |
Manisha, Opposite Poonam Moti Nagar, Behind Market Yard, Ahmednagar –
414 001, |
|
Date of Birth/Age : |
16.10.1967 |
|
Qualification : |
B.Com, D.T.L. |
|
Date of Appointment : |
24.08.1994 |
|
DIN No.: |
00111023 |
|
PAN No.: |
AEHPB8566K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Manakchand Bothara jointly with Santosh Bothara |
|
3350 |
|
Santosh Bothara jointly with Sangita Bothara |
|
4750 |
|
Leena Bothara jointly with Premraj Bothara |
|
100 |
|
Pratibha Bothara jointly with Satish Bothara |
|
100 |
|
Preksha Pemraj Bothara |
|
1000 |
|
Pemraj Bothara jointly with Leena Bothara |
|
4150 |
|
Satish Bothara jointly with Pemraj Bothara |
|
3750 |
|
Pranesh Pemraj Bothara (Through Guardian) |
|
1000 |
|
Satish Bothara (HUF) jointly with Pratibha S. Bothara |
|
150 |
|
Santosh Bothara (HUF) jointly with Sangita Bothara |
|
150 |
|
Pemraj Bothara (HUF) jointly with Leena P. Bothara |
|
180 |
|
Pemraj Manakchand Bothara |
|
750 |
|
Manakchand Ghewarchand Bothara |
|
3450 |
|
Santosh Manakchand Bothara |
|
1550 |
|
Satish Manakchand Bothara |
|
750 |
|
Total |
|
25180 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing
and selling of Agro Equipments like PVC Pipes and Fittings. |
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Products : |
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Brand Names : |
PARAS |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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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|
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Auditors : |
|
|
Name : |
M.S. Barmecha and Company Chartered Accountants |
|
Address : |
201/B, Mutha Chambers Market Yard Road, Ahmednagar, Pune – 414 001,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AEHPB8677D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Paras Miracle Poly Products Private Limited, India
(CIN No.: U33112PN1996PTC096773) ·
Paras PVC Pipes and Fittings Private Limited,
India (CIN No.: U25209PN1997PTC112094) ·
Gaurav Agro Pipes, India |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25180 |
Equity Shares |
Rs.100/- each |
Rs.2.518
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 |
2.518 |
2.518 |
2.518 |
|
(b) Reserves & Surplus |
135.337 |
114.448 |
88.083 |
|
(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) |
137.855 |
116.966 |
90.601 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
398.530 |
323.424 |
265.646 |
|
(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) |
398.530 |
323.424 |
265.646 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
5.617 |
22.755 |
25.946 |
|
(b) Trade payables |
86.031 |
128.567 |
192.976 |
|
(c) Other current liabilities |
55.574 |
28.635 |
33.267 |
|
(d) Short-term provisions |
2.788 |
3.635 |
2.650 |
|
Total Current Liabilities (4) |
150.010 |
183.592 |
254.839 |
|
|
|
|
|
|
TOTAL |
686.395 |
623.982 |
611.086 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
200.722 |
125.398 |
121.293 |
|
(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 |
0.250 |
0.250 |
0.250 |
|
(c) Deferred tax assets (net) |
14.939 |
0.040 |
0.607 |
|
(d)
Long-term Loan and Advances |
4.152 |
3.712 |
3.712 |
|
(e) Other Non-current assets |
0.000 |
1.662 |
0.000 |
|
Total Non-Current Assets |
220.063 |
131.062 |
125.862 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
134.790 |
127.186 |
112.435 |
|
(c) Trade receivables |
292.822 |
316.364 |
333.737 |
|
(d) Cash and cash equivalents |
22.828 |
18.595 |
18.700 |
|
(e) Short-term loans and advances |
1.931 |
3.940 |
3.862 |
|
(f) Other current assets |
13.961 |
26.835 |
16.490 |
|
Total Current Assets |
466.332 |
492.920 |
485.224 |
|
|
|
|
|
|
TOTAL |
686.395 |
623.982 |
611.086 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1243.077 |
853.443 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1264.052 |
1243.077 |
853.443 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1221.304 |
1179.467 |
806.868 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
42.748 |
63.610 |
46.575 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
35.302 |
23.527 |
23.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
7.446 |
40.083 |
23.128 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(13.479) |
13.614 |
6.859 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
20.925 |
26.469 |
16.269 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
831.02 |
1051.19 |
646.11 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
13.992 |
1.800 |
10.800 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
1.66 |
2.13 |
1.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.11 |
6.43 |
3.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.34 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.03 |
2.98 |
3.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11 |
2.68 |
1.90 |
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 |
2.518 |
2.518 |
2.518 |
|
Reserves & Surplus |
88.083 |
114.448 |
135.337 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
90.601 |
116.966 |
137.855 |
|
|
|
|
|
|
Long-term borrowings |
265.646 |
323.424 |
398.530 |
|
Short term borrowings |
25.946 |
22.755 |
5.617 |
|
Current maturities of long-term debts |
10.800 |
1.800 |
13.992 |
|
Total Borrowings |
302.392 |
347.979 |
418.139 |
|
Debt/Equity ratio |
3.338 |
2.975 |
3.033 |
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 Income |
853.443 |
1243.077 |
1264.052 |
|
|
|
45.654 |
1.687 |
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 Income |
853.443 |
1243.077 |
1264.052 |
|
Profit |
16.269 |
26.469 |
20.925 |
|
|
1.91% |
2.13% |
1.66% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
204.566 |
178.948 |
|
Loans and advances from others |
161.505 |
141.664 |
|
Total |
366.071 |
320.612 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10512543 |
01/08/2014 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C14811590 |
|
2 |
10230904 |
12/03/2015 * |
209,600,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C46649620 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
·
Office Equipments
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.63.85 |
|
UK Pound |
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
5 |
|
--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 |
|
47 |
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.