MIRA INFORM REPORT
|
Report No. : |
328232 |
|
Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NAROL TEXTILE INFRASTRUCTURE AND ENVIRO MANAGEMENT |
|
|
|
|
Registered
Office : |
401, Satya, Opposite IOC Petrol Pump, 132 Feet Ring Road, Near Shivranjani Cross
Road, Satellite, Ahmedabad – 380015, Gujarat |
|
Tel. No.: |
91-9824046155 (Mr. Nitin Chandulal Thakkar) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.03.2010 |
|
|
|
|
Com. Reg. No.: |
04-060003 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U37200GJ2010NPL060003 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMN04620A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN2226K |
|
|
|
|
Legal Form : |
Section 25 Company [Non- Profit Organisation under the Companies Act 1956] |
|
|
|
|
Line of Business
: |
Subject act as Not-for-Profit Special Purpose company to provide
environmental protection infrastructure for its member units. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Project under implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
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|
|
Comments : |
Even though the company was incorporated on 25th March 2010
but project of company is under implementation. Mr. Nitin Thakker, Director has provided information to us and claimed
that the subject company is a non-profit special purpose company which under
takes project of building environmental protection infrastructure and project
of same is expected to complete till March 2016. Management has failed to file its financial record with Government
Department for the year 2014. As per the financial record of 2013 company has
incurred huge pre-operating expenses. As per the status shown in the Registrar of Companies, business
appears to be active. Payments are reported to be unknown. The company can be considered for business dealings with great
caution. NOTE: Section 25 company [Non- Profit Organisation under the Companies Act 1956] are
companies formed for promoting commerce, art, science, religion, charity or
any other useful object. |
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. Nitin Chandulal Thakkar |
|
Designation : |
Director |
|
Contact No.: |
91-9824046155 |
|
Date : |
22.06.2015 |
LOCATIONS
|
Registered Office : |
401, Satya, Opposite IOC Petrol Pump, 132 Feet Ring Road, Near Shivranjani Cross
Road, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-29096545 |
|
Mobile No.: |
91-9824046155 (Mr. Nitin Chandulal Thakkar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ashish Virendrabhai Shah |
|
Designation : |
Director |
|
Address : |
2, Jain Merchant Society, Paldi, Ahmedabad - 380007, Gujarat, India |
|
Date of Birth/Age : |
04.09.1958 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
00007201 |
|
|
|
|
Name : |
Mr. Nitin Chandulal Thakkar |
|
Designation : |
Director |
|
Address : |
88, Sector-7, Satyagrah Chavni Cooperative Housing Society Limited, Near Fun Republic, Satellite, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
20.11.1960 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
00011716 |
|
|
|
|
Name : |
Deokinandan Agarwal |
|
Designation : |
Director |
|
Address : |
4, Nilgiri Bunglow, Behind Ashwamegh-5, 132 Feet Ring Road, Satellite, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
03.05.1955 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
00146775 |
|
|
|
|
Name : |
Mr. Jaiprakash Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
10, Nandi Hill Society, Opp. Isro, Satellite,, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
02.11.1959 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
00155430 |
|
|
|
|
Name : |
Mr. Nareshkumar Ramgopal Sharma |
|
Designation : |
Director |
|
Address : |
1, Shairaj Bunglow, Ramdevnagar, Satelite Road, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
23.04.1962 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
00280490 |
|
|
|
|
Name : |
Lalitmohan Radhakrishnaji Chamaria |
|
Designation : |
Director |
|
Address : |
A-604 Maruti Tavar, Sarkhej District Ahmedabad, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
19.12.1961 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
01938965 |
|
|
|
|
Name : |
Daniel Elijah Richards |
|
Designation : |
Nominee director |
|
Address : |
6026/4, D-6, Vasantkunj, New Delhi - 110070, Delhi, India |
|
Date of Appointment : |
28.01.2014 |
|
DIN No.: |
03624679 |
|
|
|
|
Name : |
Kamalkumar Chandanlal Dayani |
|
Designation : |
Nominee director |
|
Address : |
Block No. KH-18, Sector 19, Gandhinagar - 382019, Gujarat, India |
|
Date of Appointment : |
28.01.2014 |
|
DIN No.: |
05351774 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Subject act as Not-for-Profit Special Purpose company to provide environmental
protection infrastructure for its member units. |
|
|
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
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|
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Purchasing : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End users and OEMs
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Dhaivat Trivedi and Associates Chartered Accountants |
|
Address : |
13 Atul Park Society, Nearr Varsha Society, Ajwa Road, Vadodara –
390019, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AGEPT3175H |
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Memberships : |
-- |
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Collaborators : |
-- |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital : Rs. 0.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 0.000
Million
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.000 |
0.000 |
0.000 |
|
(b) Reserves & Surplus |
487.502 |
374.726 |
360.675 |
|
(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) |
487.502 |
374.726 |
360.675 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
27.502 |
35.626 |
33.725 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
27.502 |
35.626 |
33.725 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.080 |
0.072 |
0.000 |
|
(c)
Other current liabilities |
0.051 |
1.268 |
0.993 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
0.131 |
1.340 |
0.993 |
|
|
|
|
|
|
TOTAL |
515.135 |
411.692 |
395.393 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
270.772 |
102.081 |
90.176 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
270.772 |
102.081 |
90.176 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
76.110 |
174.270 |
173.121 |
|
(e)
Short-term loans and advances |
149.334 |
120.806 |
132.096 |
|
(f)
Other current assets |
18.919 |
14.535 |
0.000 |
|
Total
Current Assets |
244.363 |
309.611 |
305.217 |
|
|
|
|
|
|
TOTAL |
515.135 |
411.692 |
395.393 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
REVENUE FROM
OPERATIONS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit Expenses |
0.000 |
0.000 |
0.009 |
|
|
|
Other Expenses |
0.488 |
0.040 |
0.150 |
|
|
|
TOTAL |
0.488 |
0.040 |
0.159 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST |
(0.488) |
(0.040) |
(0.159) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.058 |
0.002 |
0.003 |
|
|
|
|
|
|
|
|
|
|
EXCESS OF INCOME
OVER EXPENDITURE |
(0.546) |
(0.042) |
(0.162) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.22) |
(0.01) |
(0.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1865.37 |
231.05 |
307.37 |
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 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.000 |
0.000 |
0.000 |
|
Reserves & Surplus |
360.675 |
374.726 |
487.502 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
360.675 |
374.726 |
487.502 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
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. 71.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.