MIRA INFORM REPORT
|
Report No. : |
327975 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
OCEAN THERMOPLASTIC ELASTOMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-70/16, DSIDC Complex, Lawrence Road, Delhi – 110034 |
|
Tel. No.: |
91-11-27180991/32485885 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.11.1993 |
|
|
|
|
Com. Reg. No.: |
55-055906 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PTC055906 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELO01503F |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Thermoplastic Rubber Compounds and Wood Plastic Composite Profile |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. As management failed to file the financials documents for the year
ended 31.03.2013 & 31.03.2014 to statutory authorities. And the documents
are not been available from any sources. As per registrar of companies the date of balance sheet (i.e. financial
filed) is shown as 31.03.2012, but the documents related to the financials
are not been available from any sources. As per available financial of 2011, financial position seems to be
moderate. However, trade relations are reported to be fair. Business is active.
Payments are unknown. The company can be considered for business dealing on fully safe and
secured 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
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Mr. Ashish Pandey |
|
Designation : |
Director |
|
Contact No.: |
91-9811123109 |
|
Date : |
15.03.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
B-70/16, DSIDC Complex, Lawrence Road, Delhi - 110035, India |
|
Tel. No.: |
91-11-27180991/32485885 |
|
Mobile No.: |
91-9811123109 (Mr. Ashish Pandey) |
|
Fax No.: |
91-11-42237109 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory 2 : |
76, Rajendra Nagar Industrial Area, Ghaziabad - 201007, Uttar Pradesh,
India |
|
|
|
|
Factory 3 : |
58/1, 58/2 Block II, WHS Kirti Nagar, Delhi, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Arun Kumar Pandey |
|
Designation : |
Director |
|
Address : |
BN-19, West Shalimar Bagh, Delhi - 110088, India |
|
Date of Birth/Age : |
28.09.1944 |
|
Date of Appointment : |
01.02.2003 |
|
DIN No.: |
00314085 |
|
|
|
|
Name : |
Mr. Kumud Pandey |
|
Designation : |
Director |
|
Address : |
BN-19, West Shalimar
Bagh, Delhi - 110088, India |
|
Date of Appointment : |
03.11.1993 |
|
DIN No.: |
00314189 |
|
|
|
|
Name : |
Mr. Ashish Pandey |
|
Designation : |
Director |
|
Address : |
BN-19, West Shalimar
Bagh, Delhi - 110088, India |
|
Date of Birth/Age : |
24.08.1980 |
|
Date of Appointment : |
07.02.2012 |
|
DIN No.: |
00314136 |
|
|
|
|
Name : |
Mr. Rahul Bhardwaj |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Arun Kumar Pandey |
|
175731 |
|
Kumud Pandey |
|
74342 |
|
Ocean Plastic and Fibers Private Limited, India |
|
9100 |
|
V.N. Pandey HUF |
|
19800 |
|
Abhinav Pandey |
|
26100 |
|
Ashish Pandey |
|
46577 |
|
A.K. Pandey |
|
54000 |
|
Abhinav Pandey HUF |
|
1800 |
|
Sunita Pandey |
|
14800 |
|
D.K. Awasthi HUF |
|
1800 |
|
Shashi Awasthi |
|
12400 |
|
Ajay Awasthi |
|
11800 |
|
Malti Pantry |
|
4200 |
|
Ocean Plastics and Footwear Private Limited, India |
|
39700 |
|
Sangeeta Pandey |
|
2800 |
|
Jagdish Narula HUF |
|
5050 |
|
Total |
|
500000 |
AS ON 03.05.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Natraj Steels Private Limited |
|
63600 |
|
Deepak Jain (HUF) |
|
24250 |
|
Narender Kumar Agarawal |
|
11400 |
|
Ravinder Kumar |
|
10350 |
|
Narusingha Charan Sethi |
|
7250 |
|
Pushpa Agrawal |
|
12250 |
|
Dhallu Ram Pahuja ans Subhagwanti Pahuja |
|
27250 |
|
Total |
|
156350 |
AS ON 30.09.2011
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 : |
Manufacturers of Thermoplastic Rubber Compounds and Wood
Plastic Composite Profile |
|
|
|
|
Products : |
Not Available |
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|
Brand Names : |
Not Available |
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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 : |
Not Divulged |
GENERAL INFORMATION
|
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 : |
(Rs.
In Million)
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Auditors : |
|
|
Name : |
KPMR and Associates Chartered Accountants |
|
Address : |
211, Delhi Chamber, Delhi Gate, New Delhi – 110002, India |
|
Tel. No.: |
91-11-23262425 / 23287038 |
|
Fax No.: |
91-11-23269723 |
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E-Mail : |
|
|
PAN No.: |
AAAFF1124G |
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|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries
: |
Not Divulged |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
656350 |
Equity Shares |
Rs.10/- each |
Rs.6.564
Million |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
11.327 |
0.305 |
1.362 |
|
|
3] Reserves & Surplus |
8.946 |
6.530 |
2.494 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25.273 |
11.835 |
8.856 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
17.141 |
9.665 |
3.430 |
|
|
2] Unsecured Loans |
0.148 |
0.000 |
3.997 |
|
|
TOTAL BORROWING |
17.289 |
9.665 |
7.427 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
42.562 |
21.500 |
16.283 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.142 |
7.655 |
5.454 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.959 |
5.540 |
3.219 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.644
|
3.404 |
0.524 |
|
|
Sundry Debtors |
38.891
|
24.136 |
18.346 |
|
|
Cash & Bank Balances |
0.030
|
0.019 |
0.540 |
|
|
Other Current Assets |
0.000
|
0.245 |
0.000 |
|
|
Loans & Advances |
6.093
|
3.598 |
3.735 |
|
Total
Current Assets |
60.658
|
31.402 |
23.145 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
34.873
|
21.670 |
|
|
|
Other Current Liabilities |
1.101
|
0.699 |
15.028 |
|
|
Provisions |
1.223
|
0.754 |
0.533 |
|
Total
Current Liabilities |
37.197
|
23.123 |
15.561 |
|
|
Net Current Assets |
23.461
|
8.279 |
7.584 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.026 |
0.026 |
|
|
|
|
|
|
|
|
TOTAL |
42.562 |
21.500 |
16.283 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.566 |
0.520 |
0.520 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.18
|
1.33 |
1.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.04 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.68
|
0.82 |
0.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.36 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Share Application Money |
1.362 |
0.305 |
11.327 |
|
Reserves & Surplus |
2.494 |
6.530 |
8.946 |
|
Net
worth |
8.856 |
11.835 |
25.273 |
|
|
|
|
|
|
Secured Loans |
3.430 |
9.665 |
17.141 |
|
Unsecured Loans |
3.997 |
0.000 |
0.148 |
|
Total
borrowings |
7.427 |
9.665 |
17.289 |
|
Debt/Equity
ratio |
0.839 |
0.817 |
0.684 |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
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 |
NOTE: The registered
office of the company has been shifted from BN-19, West Shalimar Bagh, New
Delhi – 110052, India to present address w.e.f. 07.02.2012
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
|
|
|
|
Tusha Pandey |
0.148 |
0.000 |
|
Total |
0.148 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10502729 |
28/02/2014 |
60000000 |
Others |
YES BANK LIMITED,
DR. ANNIE BESANT ROAD, WORLI, |
C02422566 |
|
2 |
10350582 |
02/06/2012 * |
242350000 |
ING VYSYA BANK LIMITED |
55, GROUND FLOOR, WEST AVENUE ROAD, PUNJABI BAGH, NEW DELHI - 110026, INDIA |
B44569770 |
FIXED ASSETS
- Land
- Building
- Car
- Plant and
Machinery
- Computer
- Fax Machine
- Electronic
Type Write
- Generator
- Printer
- Motor Cycle
- Transformer
- Mobile
Phone
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.63.64 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.71.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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.