MIRA INFORM REPORT
|
Report No. : |
325989 |
|
Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
MIRANDA AUTOMATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C – 16, Satyam Shopping Centre, M.G. Road, Ghatkopar (East), Mumbai – 400077,
Maharashtra |
|
Tel. No.: |
91-22-25134455 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.03.2001 |
|
|
|
|
Com. Reg. No.: |
11-131274 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH2001PTC131274 |
|
|
|
|
IEC No.: |
0306092620 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14796F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM7620F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is mainly engaged in design, research,
manufacture of machineries mainly used in food and chemical industries. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 69000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Subject was established in 2001. It is engaged in manufacturing and
supplying customized solution to customers in the field of industrial
automation, bulk material handling, PLC automation systems, process
equipment, and automated material handling equipment. Overall financial position of the company seems to be fair. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In the view of strong track record of subject in automation industry
and established business relationship with the customers, the subject can be
considered for business dealing 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 – 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Joel A. Miranda |
|
Designation : |
Director |
|
Contact No.: |
91-9820062237 |
|
Date : |
04.06.2015 |
LOCATIONS
|
Registered Office : |
C – 16, Satyam Shopping Centre, M.G. Road, Ghatkopar (East), Mumbai –
400 077, Maharashtra, India |
|
Tel. No.: |
91-22-25134455 |
|
Fax No.: |
91-22-25141961 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200 sq ft |
|
Location : |
Rented |
|
|
|
|
Factory : |
Plot No. R-632, M.I.D.C., T.T.C. Industrial Area, Rabale Village,
Thane-Belapur Road, Navi Mumbai - 400701, Maharashtra, India |
|
Tel. No.: |
91-22-27642533 |
|
Fax No.: |
91-22-27690128 / 9188 |
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Daniel Edward Miranda |
|
Designation : |
Director |
|
Address : |
B - Building, T4, Garden CLY, 2nd Cross L. J. Road, Mahim,
Mumbai - 400016, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1988 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02117741 |
|
|
|
|
Name : |
Mr. Mary Albert Miranda |
|
Designation : |
Director |
|
Address : |
B - Building, T4, Garden CLY, 2nd Cross L. J. Road, Mahim,
Mumbai - 400016, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1953 |
|
Date of Appointment : |
19.03.2001 |
|
DIN No.: |
02117751 |
|
|
|
|
Name : |
Mr. Joel A. Miranda |
|
Designation : |
Director |
|
Address : |
B - Building, T4, Garden CLY, 2nd Cross L. J. Road, Mahim,
Mumbai - 400016, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1985 |
|
Date of Appointment : |
01.08.2003 |
|
DIN No.: |
02117768 |
|
|
|
|
Name : |
Mr. Albert Anthony Miranda |
|
Designation : |
Managing Director |
|
Address : |
B - Building, T4, Garden CLY, 2nd Cross L. J. Road, Mahim,
Mumbai - 400016, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1947 |
|
Date of Appointment : |
19.03.2001 |
|
DIN No.: |
02117815 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Albert Anthony Miranda |
5000 |
50.00 |
|
Mary Albert Miranda |
5000 |
50.00 |
|
Total |
10000 |
100.00 |
As on 24.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is mainly engaged in design, research,
manufacture of machineries mainly used in food and chemical industries. |
|
|
|
|
Products : |
· Inverter Syrup and Sugar Solution · PLC and SCADA Based Industrial Automation |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Machineries |
|
Countries : |
|
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/c |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
25 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
DJA and Associates Chartered Accountants |
|
Address : |
Shop No.C-2, Windsor CHS, Ashok Van, Shiv Vallabh Road, Dahisar
(East), Mumbai – 400068, Maharashtra, India |
|
Mobile No.: |
91-9820562120 |
|
PAN No.: |
AAIFD5337K |
|
|
|
|
Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
23.961 |
31.605 |
29.847 |
|
(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) |
24.061 |
31.705 |
29.947 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1.255 |
0.965 |
0.532 |
|
(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) |
1.255 |
0.965 |
0.532 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
28.041 |
38.693 |
46.944 |
|
(b) Trade
payables |
76.286 |
69.334 |
72.732 |
|
(c) Other
current liabilities |
7.633 |
16.997 |
26.723 |
|
(d) Short-term
provisions |
2.085 |
0.860 |
0.791 |
|
Total Current
Liabilities (4) |
114.045 |
125.884 |
147.190 |
|
|
|
|
|
|
TOTAL |
139.361 |
158.554 |
177.669 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
22.637 |
22.869 |
22.356 |
|
(ii)
Intangible Assets |
0.715 |
0.851 |
0.960 |
|
(iii)
Capital work-in-progress |
1.900 |
1.900 |
1.900 |
|
(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 |
5.255 |
5.656 |
0.000 |
|
Total Non-Current
Assets |
30.507 |
31.276 |
25.216 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
10.462 |
10.462 |
|
(b)
Inventories |
8.251 |
13.654 |
17.521 |
|
(c) Trade
receivables |
76.399 |
74.877 |
75.584 |
|
(d) Cash
and cash equivalents |
1.112 |
1.867 |
30.887 |
|
(e)
Short-term loans and advances |
23.092 |
26.418 |
17.999 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
108.854 |
127.278 |
152.453 |
|
|
|
|
|
|
TOTAL |
139.361 |
158.554 |
177.669 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
118.848 |
125.125 |
NA |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
118.848 |
125.125 |
NA |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
113.853 |
119.657 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.995 |
5.468 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.553 |
1.720 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3.442 |
3.748 |
4.010 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
344.20 |
374.80 |
NA |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
150.000 |
The above information has been parted by Mr. Joel A. Miranda
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
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} |
(%) |
3.63 |
3.49 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.17 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.17 |
1.22 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
1.01 |
1.04 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
29.847 |
31.605 |
23.961 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
29.947 |
31.705 |
24.061 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
46.944 |
38.693 |
28.041 |
|
Total borrowings |
46.944 |
38.693 |
28.041 |
|
Debt/Equity ratio |
1.568 |
1.220 |
1.165 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
|
125.125 |
118.848 |
|
|
|
(5.017) |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
|
125.125 |
118.848 |
|
Profit |
|
3.748 |
3.442 |
|
|
|
3.00% |
2.90% |
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
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 |
NATURE OF OPERATIONS
Subject was incorporated in India with limited liability on March 19, 2001.
The Company is mainly engaged in design, research, manufacture of machineries mainly used in food and chemical industries. Company also undertakes erection and commissioning of projects on turnkey Basis. Company also provided technical consultancy.
UNSECURED
LOAN
|
PARTICULARS |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
|
(Rs. In Million) |
|
|
SHORT TERM
BORROWING |
|
|
|
Loan and advances from related parties repayable on demand |
17.751 |
25.795 |
|
|
|
|
|
Total |
17.751 |
25.795 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10143287 |
31/07/2014 * |
10,000,000.00 |
CITIZENCREDIT CO-OPERATIVE BANK LTD.-BANDRA BRANCH |
SUNBEAM CO-OP.HSG.SOCIETY, 64,MT.CARMEL ROAD, BAN |
C19507771 |
|
2 |
10143291 |
31/07/2014 * |
10,000,000.00 |
CITIZENCREDIT CO-OPERATIVE BANK LTD.-BANDRA BRANCH |
SUNBEAM CO-OP.HSG.SOCIETY, 64,MT.CARMEL ROAD, BAN |
C19507151 |
* Date of charge modification
FIXED ASSETS
- Mobile
Handset
- Plant and
machinery
- Office
equipment
- Furniture and
fittings
- Motor car
- Computer
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.63.89 |
|
|
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.