MIRA INFORM REPORT
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Report No. : |
329202 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRANDZSTORM INDIA MARKETING PRIVATE LIMITED |
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|
|
Registered
Office : |
Office No.- 305, 3rd Floor, Hubtown Solaris, N. S., Phadke Marg, Near Hotel Regency, Andheri (East), Mumbai – 400069, Maharashtra |
|
Tel. No.: |
91-22-40798787 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
09.02.2010 |
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Com. Reg. No.: |
11-199895 |
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Capital
Investment / Paid-up Capital : |
Rs.155.000 Million |
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CIN No.: [Company Identification
No.] |
U52100MH2010PTC199895 |
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IEC No.: |
0312043333 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB20844F |
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PAN No.: [Permanent Account No.] |
AAECB0542P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Watches, Handbags. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 2010.
It is engaged in the business of trading of watches, handbags etc. it has a
moderate track record. For the financial year 2014, the company has incurred accumulated
losses during the year and in comparison with the previous year the sales
volume has also decreased. Further, rating is constrained on account that due to accumulated
losses incurred, it has affect the networth position of the company. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered normal for business dealings with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
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
|
Name : |
Mr. Sachin Agarwal |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9819478006 |
|
Date : |
25.06.2015 |
LOCATIONS
|
Registered Office : |
Office No.- 305, 3rd Floor, Hubtown Solaris, N. S., Phadke Marg, Near Hotel Regency, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-40798787/ 40798760 |
|
Mobile No.: |
91-9819478006 [Mr. Sachin Agarwal] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
134, 1st Floor, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
|
|
|
Warehouse : |
T1, 1st Floor, Munisurat
Complex, Anjur Phata Road, Rahanal Village, Bhiwandi, Thane – 421302,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Ms. Neha Saraf |
|
Designation : |
Director |
|
Address : |
129A, Mukta Ram Babu Street, Po-Burra Bazar,
Kolkata – 700007, West Bengal, India |
|
Date of Birth/Age : |
15.04.1984 |
|
Date of Appointment : |
09.02.2010 |
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DIN No.: |
02900711 |
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|
|
|
Name : |
Mr. Ujjaval Vinod Saraf |
|
Designation : |
Director |
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Address : |
A/56, Kalumal Estate, Opposite Juhu Post
Office, AB Nair Road, Juhu, Mumbai – 400049, Maharashtra, India |
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Date of Birth/Age : |
14.11.1981 |
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Date of Appointment : |
09.02.2010 |
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DIN No.: |
02900713 |
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|
|
|
Name : |
Mr. Vinodkumar Saraf |
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Designation : |
Director |
|
Address : |
A/56, Kalumal Estate, Opposite Juhu Post
Office, AB Nair Road, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
21.07.1956 |
|
Date of Appointment : |
09.02.2010 |
|
DIN No.: |
02900716 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Agarwal |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Ujjaval Saraf |
3566700 |
23.01 |
|
Vinod Saraf |
1126700 |
7.27 |
|
Neha Saraf |
1736600 |
11.20 |
|
Vinod Kumar Saraf HUF |
660000 |
4.26 |
|
Vidya Devi Saraf |
660000 |
4.26 |
|
Benett Colman & Company Limited, India |
7750000 |
50.00 |
|
|
|
|
|
Total |
15500000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Watches, Handbags. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 / 60 / 90 Days) |
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Purchasing : |
L/C, Cash, Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Nikhil Naik and Company Chartered Accountants |
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Address : |
64/68, Raja Bahadur Bansilal Building, 3rd Floor, Block No. 10, Opera
House, Mumbai – 400004, Maharashtra, India |
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Tel. No.: |
91-22-23674651 |
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PAN No.: |
AGDPN4568M |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates : |
· Compact Impex Private Limited · Bennett Coleman And Co. Limited |
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Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Vinod Kumar Saraf HUF · Ujjval Saraf HUF |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000 Million |
|
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|
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
15500000 |
Equity Shares |
Rs.10/- each |
Rs.155.000 Million |
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|
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 [9 Months] |
30.06.2013 [15 Months] |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
155.000 |
0.500 |
0.628 |
|
(b) Reserves & Surplus |
(11.849) |
32.879 |
16.893 |
|
(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) |
143.151 |
33.379 |
17.521 |
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
142.500 |
0.000 |
58.623 |
|
(b) Deferred tax liabilities (Net) |
0.478 |
0.000 |
0.023 |
|
(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) |
142.978 |
0.000 |
58.646 |
|
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|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
38.990 |
34.900 |
0.000 |
|
(b) Trade
payables |
44.990 |
49.823 |
21.416 |
|
(c) Other
current liabilities |
6.717 |
5.409 |
2.367 |
|
(d) Short-term
provisions |
1.700 |
5.153 |
0.000 |
|
Total Current
Liabilities (4) |
92.397 |
95.285 |
23.783 |
|
|
|
|
|
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TOTAL |
378.526 |
128.664 |
99.950 |
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II.
ASSETS |
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|
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|
(1)
Non-current assets |
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|
(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
7.353 |
1.888 |
1.132 |
|
(ii)
Intangible Assets |
10.809 |
12.463 |
0.000 |
|
(iii)
Capital work-in-progress |
2.206 |
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) |
0.000 |
0.044 |
0.000 |
|
(d) Long-term Loan and Advances |
0.791 |
0.333 |
0.851 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
21.159 |
14.728 |
1.983 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
97.978 |
58.935 |
58.175 |
|
(c) Trade
receivables |
35.859 |
37.308 |
31.857 |
|
(d) Cash
and cash equivalents |
0.562 |
7.889 |
1.458 |
|
(e)
Short-term loans and advances |
0.515 |
1.035 |
0.000 |
|
(f) Other
current assets |
222.453 |
8.769 |
6.477 |
|
Total
Current Assets |
357.367 |
113.936 |
97.967 |
|
|
|
|
|
|
TOTAL |
378.526 |
128.664 |
99.950 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 [9 Months] |
30.06.2013 [15 Months] |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
|
92.873 |
|
|
|
Other Income |
|
|
0.004 |
|
|
|
TOTAL |
137.200 |
203.263 |
92.877 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
69.659 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
|
(23.791) |
|
|
|
Employees benefits expense |
|
|
9.457 |
|
|
|
Other expenses |
|
|
34.685 |
|
|
|
TOTAL |
151.385 |
182.973 |
90.010 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
2.867 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
2.573 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.294 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.382 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD ITEM |
|
|
7.613 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
(14.185) |
20.290 |
7.525 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.957) |
4.433 |
2.343 |
|
|
|
|
|
|
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|
|
|
PROFIT AFTER TAX
|
(12.228) |
15.857 |
5.182 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
19.826 |
19.266 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.79 |
317.15 |
103.62 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
200.000 |
The above information has been parted by Mr. Sachin Agarwal (Finance
Head)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 [9 Months] |
30.06.2013 [15 Months] |
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 [9 Months] |
30.06.2013 [15 Months] |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
NA |
NA |
5.58 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
NA |
3.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(3.77) |
15.78 |
7.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10) |
0.61 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.27 |
1.05 |
3.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.87 |
1.20 |
4.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
30.06.2013 [15 Months] |
31.03.2014 [9 Months] |
|
|
Rs.
In Million |
Rs. In
Million |
Rs.
In Million |
|
Share Capital |
0.628 |
0.500 |
155.000 |
|
Reserves & Surplus |
16.893 |
32.879 |
(11.849) |
|
Net
worth |
17.521 |
33.379 |
143.151 |
|
|
|
|
|
|
long-term borrowings |
58.623 |
0.000 |
142.500 |
|
Short term borrowings |
0.000 |
34.900 |
38.990 |
|
Total
borrowings |
58.623 |
34.900 |
181.490 |
|
Debt/Equity
ratio |
3.346 |
1.046 |
1.268 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
30.06.2013 [15 Months] |
31.03.2014 [9 Months] |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
92.877 |
203.263 |
137.200 |
|
|
|
118.852 |
(32.501) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
30.06.2013 [15 Months] |
31.03.2014 [9 Months] |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
92.877 |
203.263 |
137.200 |
|
Profit |
5.182 |
15.857 |
(12.228) |
|
|
5.58% |
7.80% |
(8.91%) |
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 |
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 |
REVIEW OF
OPERATION
The Company has made a profit/loss of Rs. (2.228) Million during the year ended March 31, 2014 as compared to Rs. 15.857 Million during the last year ended on June 30, 2013.
UNSECURED LOANS:
|
Particulars |
31.03.2014 [9 Month] Rs. In Million |
30.06.2013 [15 Month] Rs. In Million |
|
Long Term Borrowings |
|
|
|
Fully convertible debentures others |
142.500 |
0.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable on demand |
0.000 |
11.309 |
|
Intercorporate borrowings |
28.450 |
23.591 |
|
|
|
|
|
Total |
170.950 |
34.900 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10358025 |
11/05/2012 |
17,500,000.00 |
ICICI Bank Limited |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B40568859 |
FIXED ASSETS:
· Air Conditioner
· Computer
· Furniture and Fixture
· Office Equipment
· Distribution Rights
· Brand Purchased
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.63.61 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
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 |
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 |
|
36 |
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.