MIRA INFORM REPORT
|
Report No. : |
347901 |
|
Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMBICA COTSEEDS LIMITED |
|
|
|
|
Registered
Office : |
185/1, Village Rangpurda, Taluka – Kadi, District – Mehsana, Kadi –
382715, Gujarat |
|
Tel. No.: |
91-2764-262294 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.04.2011 |
|
|
|
|
Com. Reg. No.: |
04-065187 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21.378 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15142GJ2011PLC065187 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA10711B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCA4155E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Raw Cotton. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 64000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2011 having
moderate track record. It is engaged in the business as manufacturer and exporter of raw
cotton. The rating reflects modest financial risk profile marked by very thin
profit margin and low reserves level of the company. Further the rating also takes into consideration highly fragmented
industry with low entry barriers and fluctuation in cotton prices. However, trade relations are reported as fair. Business is active.
Payment terms are reported are reported as 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 – 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Nirav Bharatbhai Patel |
|
Designation : |
Director |
|
Contact No.: |
91-2764-262294 |
LOCATIONS
|
Registered Office : |
185/1, Village Rangpurda, Taluka – Kadi, District – Mehsana, Kadi –
382715, Gujarat, India |
|
Tel. No.: |
91-2764-262294 |
|
Fax No.: |
91-2764-262178 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Bharatbhai Prahladbhai Patel |
|
Designation : |
Director |
|
Address : |
12, Mahalaxmi Society, Kadi Karan Nagar Road, Kadi Mehsana – 382715,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1962 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
00377202 |
|
|
|
|
Name : |
Mr. Vishnubhai Prahladbhai Patel |
|
Designation : |
Director |
|
Address : |
12, Mahalaxmi Society, Kadi Karan Nagar Road, Kadi Mehsana – 382715,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
00375791 |
|
|
|
|
Name : |
Mr. Niravkumar Bharatbhai Patel |
|
Designation : |
Director |
|
Address : |
12, Mahalaxmi Society, Kadi Karan Nagar Road, Kadi Mehsana – 382715,
Gujarat, India |
|
Date of Birth/Age : |
01.04.1986 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
02055489 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
SHAREHOLDERS DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Raw Cotton. |
|
|
|
|
Products : |
· Cotton Bales Shankar-6 · Cotton Bales V-797 · Cotton Linter · Cotton Seeds · Cotton Seed (Delinted) · Cotton Seed Oil Cake · Cotton Seed Oil (Unrefined Oil) |
|
|
|
|
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 : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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|||||||||||||||||||||
|
Bankers : |
Dena Bank, Kadi Branch, District Mehsana, Mehsana – 382715,
Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Babubhai Patel and Associates Chartered Accountants |
|
Address : |
A Wing/ 10 and 11, 2nd Floor, Ajanta Commercial Center,
Near income Tax Office, Asram Road, Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-27540268 |
|
PAN No.: |
AABFB6704D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Related Parties : |
·
Vivekanand Industries ·
Avadh Cotton Industries ·
Jain Finscap Private Limited ·
Balaji Oil Mill Ginning and Pressing Factory |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2137800 |
Equity Shares |
Rs.10/- each |
Rs. 21.378 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 |
21.378 |
21.378 |
21.378 |
|
(b) Reserves & Surplus |
0.929 |
0.536 |
0.174 |
|
(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) |
22.307 |
21.914 |
21.552 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.441 |
0.229 |
0.000 |
|
(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) |
0.441 |
0.229 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
21.160 |
9.224 |
5.632 |
|
(b) Trade
payables |
16.114 |
36.912 |
22.396 |
|
(c) Other
current liabilities |
1.506 |
0.259 |
0.069 |
|
(d) Short-term
provisions |
0.000 |
0.124 |
0.047 |
|
Total Current
Liabilities (4) |
38.780 |
46.519 |
28.144 |
|
|
|
|
|
|
TOTAL |
61.528 |
68.662 |
49.696 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12.866 |
14.788 |
0.000 |
|
(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) |
0.000 |
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 |
12.866 |
14.788 |
0.000 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
13.008 |
5.088 |
18.703 |
|
(c) Trade
receivables |
24.238 |
36.921 |
0.000 |
|
(d) Cash
and cash equivalents |
0.686 |
4.031 |
10.681 |
|
(e) Short-term
loans and advances |
10.276 |
7.315 |
19.729 |
|
(f) Other
current assets |
0.454 |
0.519 |
0.583 |
|
Total
Current Assets |
48.662 |
53.874 |
49.696 |
|
|
|
|
|
|
TOTAL |
61.528 |
68.662 |
49.696 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
819.271 |
687.116 |
286.603 |
|
|
|
Other Income |
21.296 |
18.310 |
3.228 |
|
|
|
TOTAL (A) |
840.567 |
705.426 |
289.831 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
85.364 |
52.283 |
0.015 |
|
|
|
Purchase of Stock-in-trade |
709.759 |
620.177 |
262.118 |
|
|
|
(Increase) / Decrease in stock |
(5.896) |
(5.015) |
0.000 |
|
|
|
Employee Benefits Expenses |
0.645 |
0.684 |
0.198 |
|
|
|
Other Expenses |
39.021 |
27.987 |
24.206 |
|
|
|
TOTAL (B) |
828.893 |
696.116 |
286.537 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.674 |
9.310 |
3.294 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.958 |
7.741 |
3.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2.716 |
1.569 |
0.252 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.966 |
0.836 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.750 |
0.733 |
0.252 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.358 |
0.371 |
0.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
0.392 |
0.362 |
0.174 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
585.660 |
509.838 |
283.647 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
0.367 |
6.313 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.18 |
0.17 |
0.08 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.05 |
0.05 |
0.06 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.42 |
1.35 |
1.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.22 |
1.07 |
0.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.03 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95 |
0.42 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.16 |
1.77 |
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 |
21.378 |
21.378 |
21.378 |
|
Reserves & Surplus |
0.174 |
0.536 |
0.929 |
|
Net
worth |
21.552 |
21.914 |
22.307 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
5.632 |
9.224 |
21.160 |
|
Total
borrowings |
5.632 |
9.224 |
21.160 |
|
Debt/Equity
ratio |
0.261 |
0.421 |
0.949 |
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 |
286.603 |
687.116 |
819.271 |
|
|
|
139.745 |
19.233 |
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
|
286.603 |
687.116 |
819.271 |
|
Profit |
0.174 |
0.362 |
0.392 |
|
|
0.06% |
0.05% |
0.05% |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans from
directors |
1.195 |
0.675 |
|
Corporate
deposits |
0.000 |
8.549 |
|
|
|
|
|
Total |
1.195 |
9.224 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10502525 |
11/11/2013 |
157,500,000.00 |
Dena Bank |
Kadi Branch, District Mehsana, Mehsana, Gujarat - 382715, India |
B94566825 |
FIXED ASSETS:
·
Building
·
Bike
·
Plant and Machinery
·
Air Condition
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 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. 65.22 |
|
UK Pound |
1 |
Rs. 99.93 |
|
Euro |
1 |
Rs. 71.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
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 |
|
29 |
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.