MIRA INFORM REPORT

 

 

Report No. :

313042

Report Date :

28.03.2015

 

IDENTIFICATION DETAILS

 

Name :

AEW INFRATECH PRIVATE LIMITED

 

POWERLITE SYSTEMS PRIVATE LIMITED DIVISION OF AEW INFRATECH PRIVATE LIMITED

 

 

Registered Office :

M-11, Badli Industrial Estate, New Delhi - 110042

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

19.02.2010

 

 

Com. Reg. No.:

55-199287

 

 

Capital Investment / Paid-up Capital :

Rs. 45.100 Million

 

 

CIN No.:

[Company Identification No.]

U36912DL2010PTC199287

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Supplier of LED Bulb, LED Tube Light, Industrial LED Flood Light, LED Street Light and LED Panel Light.

 

 

No. of Employees :

25 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 133000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established company having moderate track record.

 

The rating is constrained on account of company’s moderate financial risk profile and low reserves of the company.

 

However, trade relations are fair. Business is active. Payments are reported to be slow but correct. 

 

The company can be considered for business dealings with some caution.

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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. R P. Goel

Designation :

Director

Contact No.:

91-9868211638

Date :

24.03.2015

 

 

LOCATIONS

 

Registered Office :

M-11, Badli Industrial Estate, New Delhi – 110042, India

Tel. No.:

91-11-27890456 / 27850456

Mobile No.:

91-9868211638 (Mr. Goel)

Fax No.:

91-11-27872657

Email :

powerlitessystems@gmail.com

fcasunil@gmail.com 

Website :

http://www.powerliteleds.com

Location :

Owned

 

 

Factory:

Building No. S/62, Badli Industrial Estate, Delhi – 110042, India

 

 

DIRECTORS

 

AS ON: 30.09.2013

 

Name :

Mr.  Ashutosh Goel

Designation :

Director

Address :

BJ – 136, Shalimar Bagh (West), New Delhi – 110088, India

Date of Birth/Age :

11.07.1979

Date of Appointment :

19.02.2010

DIN No.:

00499875

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29303DL2001PTC113437

TGL ENTERPRISES PRIVATE LIMITED

Director

12/12/2001

12/12/2001

-

Active

NO

2

U36912DL2010PTC199287

AEW INFRATECH PRIVATE LIMITED

Director

19/02/2010

19/02/2010

-

Active

NO

3

U72200KA2009PTC048933

GEOVAS TECHNOLOGIES PRIVATE LIMITED

Director

01/04/2011

01/04/2011

-

Active

NO

4

U31900DL2011PTC220430

ALLIED ENGINEERING WORKS PRIVATE LIMITED

Director

07/06/2011

07/06/2011

-

Active

NO

5

U31909DL2011PTC221014

MASS POWERTECH PRIVATE LIMITED

Director

16/06/2011

16/06/2011

20/06/2011

Active

NO

 

 

Name :

Mr. Bimla Goel

Designation :

Director

Address :

BJ – 136, Shalimar Bagh (West), New Delhi – 110088, India

Date of Birth/Age :

08.07.1953

Date of Appointment :

19.02.2010

DIN No.:

00499861

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29303DL2001PTC113437

TGL ENTERPRISES PRIVATE LIMITED

Director

12/12/2001

12/12/2001

-

Active

NO

2

U36912DL2010PTC199287

AEW INFRATECH PRIVATE LIMITED

Director

19/02/2010

19/02/2010

-

Active

NO

3

U31900DL2011PTC220430

ALLIED ENGINEERING WORKS PRIVATE LIMITED

Director

29/06/2011

29/06/2011

-

Active

NO

 

 

Name :

Mr. Rajinder Persad Goel

Designation :

Director

Address :

BJ – 136, Shalimar Bagh (West), New Delhi – 110088, India

Date of Birth/Age :

01.04.1949

Date of Appointment :

16.07.2010

DIN No.:

03146252

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2013

 

Names of Shareholders

 

 

No. of Shares

Bimla Goel

 

5000

Ashutosh Goel

 

5000

Rajinder Persad Goel HUF

 

4500000

Total

 

4510000

 

 

 

 

 

 

AS ON: 30.09.2013

 

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

0.22

Other top fifty shareholders

99.78

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Supplier of LED Bulb, LED Tube Light, Industrial LED Flood Light, LED Street Light and LED Panel Light.

 

 

Products :
  • Led bulk
  • Led tube light
  • Led flood light
  • Led street

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

of LED Bulb, LED Tube Light, Industrial LED Flood Light, LED Street Light and LED Panel Light

Countries :

Japan

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Retailers

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Banker Name

State Bank of Hyderabad

Branch Address

A L Market Complex, Shalimar Bagh, New Delhi – 110088, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Term Loan IREDA Loan A/c for Solar Equipment

[Secured by first charged on the Building, Plant and Machinery acquired for solar plant.]

[Terms of repayment: Repayable in 40 quarterly installments commencing from March, 2012. Last installment due in Dec 2021. Rate of Interest 13% p.a. as at year end. ]

41.922

52.114

 

 

 

Short Term Borrowing

 

 

NSIC Loan A/c

(secured Against Hypothecation of Raw Material, Semi- Finished Goods, Finished Goods, Stores and Spares, FDR and Book Debts Present and Future)

36.892

30.304

State Bank of Hyderabad - CC

0.000

0.000

Total

78.814

82.419

 

Banking Relations :

 

 

 

Financial Institution :

Indian Renewable Energy Development Agency Limited, India Habitat Centre 1st Floor, East Court Core, 4 A Lodhi Road, New Delhi – 110003, India

 

 

Auditors :

 

Name :

S. C. Bansal

Chartered Accountant

Address :

201-202, Sagar Complex, Plot No. 4, LSC, CD Block, Pitampura, New Delhi – 110034, India

Tel. No.:

91-11-27312856 / 27313856

PAN No.:

AAGPB8126N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries :

Allied Engineering Works Private Limited [U31900DL2011PTC220430]

 

 

CAPITAL STRUCTURE

 

AS ON : 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20,000,000

Equity Shares

Rs.10/- each

Rs.200.000 Million

 

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,510,000

Equity Shares

Rs.10/- each

Rs.45.100 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

45.100

45.100

45.100

(b) Reserves & Surplus

1.388

(4.772)

12.955

(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)

46.488

40.328

58.055

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

44.093

55.080

78.427

(b) Deferred tax liabilities (Net)

0.000

2.448

1.726

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.210

0.210

0.210

Total Non-current Liabilities (3)

44.303

57.738

80.363

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

37.358

31.668

104.677

(b) Trade payables

24.842

40.070

159.056

(c) Other current liabilities

11.077

10.925

18.635

(d) Short-term provisions

0.000

0.000

0.579

Total Current Liabilities (4)

73.277

82.663

282.947

 

 

 

 

TOTAL

164.068

180.729

421.365

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

93.813

108.302

136.882

(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

34.400

34.400

29.240

(c) Deferred tax assets (net)

2.750

0.000

0.000

(d)  Long-term Loan and Advances

1.798

3.055

5.109

(e) Other Non-current assets

0.027

0.055

0.083

Total Non-Current Assets

132.788

145.812

171.314

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

30.977

(c) Trade receivables

16.222

15.944

181.423

(d) Cash and cash equivalents

8.681

12.813

21.453

(e) Short-term loans and advances

6.377

6.160

16.198

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

31.280

34.917

250.051

 

 

 

 

TOTAL

164.068

180.729

421.365

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

30.013

53.804

399.143

 

Other Income

0.601

3.954

3.616

 

TOTAL (A)

30.614

57.758

402.759

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL (B)

4.650

42.220

370.045

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

25.964

15.538

32.714

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

9.630

15.380

22.280

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

16.334

0.158

10.434

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

14.607

17.163

7.396

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

1.727

(17.005)

3.038

 

 

 

 

 

Less

TAX (H)

(4.433)

0.722

1.889

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

6.160

(17.727)

1.149

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.37

(3.93)

0.25

 

 

Expected Sales (2014-15) : Rs.47.000 Million

 

The above information has been parted by Mr. Goel (Director)

 

KEY RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

20.52

(32.95)

0.29

 

 

 

 

Operating

Profit Margin (PBITD/Sales)

(%)

86.51

28.88

8.20

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.36

(11.62)

0.77

 

 

 

 

Return on Investment

(ROI) (PBT/Networth)

0.04

(0.42)

0.05

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

1.75

2.15

3.15

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

0.43

0.42

0.88

 

 

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

45.100

45.100

45.100

Reserves & Surplus

12.955

(4.772)

1.388

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

58.055

40.328

46.488

 

 

 

 

long-term borrowings

78.427

55.080

44.093

Short term borrowings

104.677

31.668

37.358

Total borrowings

183.104

86.748

81.451

Debt/Equity ratio

3.154

2.151

1.752

 

 

 

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

399.143

53.804

30.013

 

 

(86.520)

(44.218)

 

 

 

 

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

399.143

53.804

30.013

Profit / Loss

1.149

(17.727)

6.160

 

0.29%

(32.95%)

20.52%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

----------------------

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

----------------------

22]

Litigations that the firm / promoter involved in

----------------------

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

----------------------

26]

Buyer visit details

----------------------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

 

 

 

Loan from Directors

 

 

Ashutosh Goel

0.950

0.000

R.P Goel

1.189

2.100

Bimla Goel

0.031

0.031

Loan from others

 

 

Nidhi Goel

0.000

0.834

Short Term Borrowing

 

 

Loan from others

0.466

0.651

Advance from Customer

0.000

0.713

Total

2.636

4.329

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10294779

04/07/2011

98,700,000.00

INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED

INDIA HABITAT CENTRE1ST FLOOR EAST COURT CORE, 4 
A LODHI ROAD, NEW DELHI, DELHI - 110003, INDIA

B16034738

2

10272902

26/04/2011 *

312,500,000.00

STATE BANK OF HYDERABAD

A L MARKET COMPLEX, SHALIMAR BAGH, DELHI - 110088, 
INDIA

B12358024

 

* Date of charge modification

 

 

 

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Solar Plant Equipment
  • Computer
  • Invertor
  • Toyota Corolla
  • Motor Cycle
  • Scooter
  • Tractor with Trolly

 

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.62.60

UK Pound

1

Rs.92.95

Euro

1

Rs.68.15

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

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.