MIRA INFORM REPORT

 

 

Report No. :

327835

Report Date :

20.06.2015

 

IDENTIFICATION DETAILS

 

Name :

KRISHVI PROJECTS PRIVATE LIMITED

 

 

Registered Office :

No.2, Airport Road, Domlur, Bangalore-560071, Karnataka

Tel. No.:

91-

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.01.1996

 

 

Com. Reg. No.:

08-019699

 

 

Capital Investment / Paid-up Capital :

Rs. 5.000 Million

 

 

CIN No.:

[Company Identification No.]

U45201KA1996PTC019699

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRK03405D

 

 

PAN No.:

[Permanent Account No.]

AABCK6675R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is in the business of Builders, Developers and Contractors.

 

 

No. of Employees :

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 682000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established company having satisfactory track record. Trade relations are reported as fair.

 

General financial position of the company seems to be fair.

 

Rating takes into consideration, healthy liquidity position backed by healthy net worth base and acceptable profit margin.

 

Trade relations are 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 – 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 (GENERAL DETAILS)

 

Name :

Mr. Sachin

Designation :

Accounts Department

Contact No.:

91-80-25354232

Date :

18.06.2015

 

 

LOCATIONS

 

Registered/ Corporate Office :

No.2, Airport Road, Domlur, Bangalore-560071, Karnataka, India

Tel. No.:

91-80-25354232/ 41639109/ 25356233/ 25354232/ 25351021

Fax No.:

91-80-25351021/ 25353148

E-Mail :

krishviprojects@hotmail.com

projects@krishvi.com 

sales@krishvi.com

krishvi_projects@vsnl.net

Website :

http://www.krishvi.com

Location :

Owned

Locality :

Commercial

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Dinesh Krishna Reddy

Designation :

Director

Address :

No. 119, Krishvi Tierra, 3rd Main, Defence Colony, Indiranagar, Bangalore – 560038, Karnataka, India

Date of Birth/Age :

17.06.1961

Date of Appointment :

30.01.1996

DIN No.:

02134328

 

 

Name :

Mrs. Mamatha Dinesh

Designation :

Director

Address :

No. 119, Krishvi Tierra, 3rd Main, Defence Colony, Indiranagar, Bangalore – 560038, Karnataka, India

Date of Birth/Age :

16.11.1965

Date of Appointment :

30.01.1996

DIN No.:

02134337

 

 

KEY EXECUTIVES

 

Name :

Mr. Sachin

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

Dinesh Krishna Reddy

22505

45.01

Mamatha Dinesh

17495

34.99

Arahanth Dinesh

10000

20.00

Total

 

50000

100.00

 

 

 

 

AS ON 29.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is in the business of Builders, Developers and Contractors.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cheque

 

 

Purchasing :

Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

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 :

Others

 

Reference:

Not Divulged

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

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :

Bank Name:

Oriental Bank of Commerce

Branch:

No.583, 9th A Main (Off C M H Road), Indiranagar, 1st Stage, Bangalore-560038, Karnataka, 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

 

·         Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Loans and Advances from Banks

 

 

Housing Development Finance Corporation Limited

Terms of Repayment 10% of Amount received towards sale of Scheduled Units

(Secured by mortgage of the company share of the project Krishvi Dhavala measuring 1.92375 Acres (83798.55 Sq.ft.) at Varthur Hobli, Bangalore South Taluk and Personal guarantee of directors Mr. Dinesh Reddy and Mrs. Mamatha Dinesh and charges on the receivables of the sold, unsold receivables of the project financed) (Company Share)

45.268

15.000

Housing Development Finance Corporation Limited

Terms Repayment 5% of amount received towards sale of Scheduled Units

(Secured by mortgage of the company share of the project Krishvi Dhavala-High Rise and Project Krishvi Dhavala being constructed on the property bearing Sy. No. 100/1 and 143/2 situated at Doddakannelli Village, Varthur Hobli, Bangalore East Taluk, Bangalore land and building thereon present and future and charge on project receivable of sold and unsold units of the project finance Krishvi-Dhavala High Rise and personal guarantee of directors Mr. Dinesh Reddy and Mrs. Mamatha Dinesh)

58.633

0.000

Axis Bank Limited – Lona against property

Terms of Repayment Monthly from June 2013

(Secured by mortgage of company property at No. 516, “Aspire” CMH Road, Binnamangala Extension, Bangalore - 560038)

40.564

0.000

Vehicle Loans from Bank

HDFC Limited – Terms of Repayment Monthly

(The vehicle loans are secured by hypothecation of specified the finance is obtained)

0.929

1.625

 

 

 

SHORT TERM BORROWINGS

 

 

Tata Capital Housing Finance Limited

Terms of Repayment Monthly from March 2014

(Secured by mortgage of 13 Flats/ Units in residential project Krishvi-Gavakshi constructed/ to be constructed as land situated at Katha No. 1030/77/3-77/4-77/5-77/1-77/2-77/4 panathur village Varthur Hobli, Bangalore and mortgage of property Krishvi Bougainvillea land situated at Katha No. 38, Ward No. 74, Jeevan Bheema Nagar, Defence Colony, Bangalore)

88.695

0.000

Total

234.089

16.625

 

Banking Relations :

--

 

 

Financial Institution :

·         Tata Capital Housing Finance Limited, One Forbes, Dr. V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India

 

·         Housing Development Finance Corporation Limited, Ramon House, 169, Backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra, India

 

 

Auditors :

 

Name :

M.Marulasiddaiah and Company

Chartered Accountants

Address :

No. 32/2, First Floor, Lalbagh Main Road, Bangalore – 560027, Karnataka, India

Tel. No.:

91-80-22221590/ 22242540

Fax No.:

91-80-41145464

E-Mail :

marul@airtelmail.in

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

AEOPM8735N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associate :

Four Square Services

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs.100/- each

Rs. 5.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs.100/- each

Rs. 5.000 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

5.000

5.000

4.500

(b) Reserves & Surplus

233.713

215.857

173.963

(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)

238.713

220.857

178.463

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

145.394

16.625

6.903

(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

1.002

0.811

0.739

Total Non-current Liabilities (3)

146.396

17.436

7.642

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

104.086

14.843

0.000

(b) Trade payables

37.462

13.596

11.314

(c) Other current liabilities

149.679

170.970

185.889

(d) Short-term provisions

10.001

19.682

23.513

Total Current Liabilities (4)

301.228

219.091

220.716

 

 

 

 

TOTAL

686.337

457.384

406.821

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

78.725

82.489

82.159

(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)

0.777

0.378

0.238

(d)  Long-term Loan and Advances

0.008

0.008

0.008

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

79.510

82.875

82.405

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

347.819

236.422

170.542

(c) Trade receivables

89.610

23.663

13.431

(d) Cash and cash equivalents

65.289

38.050

48.872

(e) Short-term loans and advances

16.954

19.912

20.148

(f) Other current assets

87.155

56.462

71.423

Total Current Assets

606.827

374.509

324.416

 

 

 

 

TOTAL

686.337

457.384

406.821

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

403.207

383.667

395.337

 

 

Other Income

15.727

11.624

10.560

 

 

TOTAL                                    

418.934

395.291

405.897

 

 

 

 

 

Less

EXPENSES

388.871

331.234

333.721

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

30.063

64.057

72.176

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

2.605

2.621

2.488

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX 

27.458

61.436

69.688

 

 

 

 

 

Less

TAX                                                                 

9.602

19.542

23.461

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

17.856

41.894

46.227

 

 

 

 

 

 

Earnings Per Share (Rs.)

357.00

838.00

1027.00

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

3.505

8.827

23.442

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

4.43

10.92

11.69

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.01

13.44

17.14

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.28

0.39

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.06

0.18

0.17

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.01

1.71

1.47

 

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

4.500

5.000

5.000

Reserves & Surplus

173.963

215.857

233.713

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

178.463

220.857

238.713

 

 

 

 

Long-term borrowings

6.903

16.625

145.394

Short term borrowings

0.000

14.843

104.086

CURRENT MATURITIES OF LONG-TERM DEBTS

23.442

8.827

3.505

Total borrowings

30.345

40.295

252.985

Debt/Equity ratio

0.170

0.182

1.060

 

 

 

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)

Sales

395.337

383.667

403.207

 

 

(2.952)

5.093

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

395.337

383.667

403.207

Profit

46.227

41.894

17.856

 

11.69%

10.92%

4.43%

 

 

 

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

Yes

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)

No

16

No. of employees

Yes

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

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

10467786

27/12/2013

50,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE, 169, BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA

B92588946

2

10467785

27/12/2013

160,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE, 169, BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI, MAHARASHTRA - 400020, INDIA

B92588904

3

10434898

16/05/2013

45,000,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B78765450

4

10048187

22/03/2007

22,500,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

A14228290

5

90192541

26/04/2002

530,000.00

BANK OF INDIA

JEEVANBEEAM NAGAR BRANCH, BANGALORE, KARNATAKA - 560079, INDIA

-

6

90199519

26/04/2002

530,000.00

BANK OF INDIA

DEEVANBEEMANAGAR BANK, BANGALORE, KARNATAKA - 560079, INDIA

-

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Loans and advances from related parties

15.391

14.843

Total

15.391

14.843

 

 

FIXED ASSETS

 

Tangible Assets

·         Commercial Building

·         Plant and Machinery

·         Furniture and Fixture

·         Vehicles

·         Office Equipment

·         Computers

 

Intangible Assets

·         software

 

 

 

 

 

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. 63.82

UK Pound

1

Rs. 101.26

Euro

1

Rs. 72.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

MRI

 

 

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

5

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

7

--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

 

49

 

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.