MIRA INFORM REPORT

 

 

Report No. :

348853

Report Date :

13.11.2015

 

IDENTIFICATION DETAILS

 

Name :

MUKESH NATURAL STONES PRIVATE LIMITED

 

 

Registered Office :

1-B-19, P and T Colony, Nahari Ka Naka, Shastri Nagar, Jaipur-302016, Rajasthan

Tel. No.:

91-141-2332945

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

20.09.2005

 

 

Com. Reg. No.:

17-021345

 

 

Capital Investment / Paid-up Capital :

Rs. 2.300 Million

 

 

CIN No.:

[Company Identification No.]

U14107RJ2005PTC021345

 

 

IEC No.:

1310019304

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

JPRM05622B

 

 

PAN No.:

[Permanent Account No.]

AAECM3935F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Natural Stones such as Granite, Marble, etc.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The rating takes consideration on company’s healthy operational and financial profile along with decent profitability margins during the years.

 

Rating further take consideration on company’s satisfactory financial risk profile marked by moderate capital structure and comfortable debt protection metrics.

 

Trade relations are fair. Business is active. Payment terms are reported as usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade 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

 

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. Mukesh Khetan

Designation :

Director

Contact No.:

91-9784598024

Date :

06.11.2015

 

 

LOCATIONS

 

Registered Office :

1-B-19, P and T Colony, Nahari Ka Naka, Shastri Nagar, Jaipur-302016, Rajasthan, India

Tel. No.:

Not Available

Mob. No.:

91-9784598024 (Mr. Mukesh Khetan)

Fax No.:

Not Available

E-Mail :

khetantiles@gmail.com

info@mukeshnaturalstones.com

Website :

http://www.mukeshnaturalstones.com

Location :

Owned

Locality :

Residential

 

 

Head Office :

A-203, RIICO Industrial Area, Bagru, Jaipur-303007, Rajasthan, India

Tel. No.:

91-141-2332945

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Mukesh Khetan

Designation :

Director

Address :

1-B-19, Nahari Ka Naka, P And T Colony, Shastri Nagar, Jaipur-302016, Rajasthan, India

Date of Appointment :

20.09.2005

DIN No.:

00348466

 

 

Name :

Mr. Abhishek Khetan

Designation :

Director

Address :

6/408, Vidhyadhar Nagar, Jaipur-302023, Rajasthan, India

Date of Appointment :

31.03.2014

DIN No.:

06850849

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

 

Kamal Kishore Khetan

 

12000

Mukesh Khetan

 

112000

Rekha Khetan

 

12000

Geeta khEtan

 

12000

Khetan Tiles Private Limited

 

26000

Jagadish Prasad Khetan

 

12000

Dinesh Khetan

 

15000

Basanti Devi Khetan

 

12000

Chanda Devi Khetan

 

12000

Rajendra Prasad Agarwal

 

5000

Total

 

230000

 

 

AS ON 25.03.2015

 

Names of Allottee

 

No. of Shares

 

Kamal Kishore Khetan

 

19500

Jagadish Prasad Khetan

 

10430

Total

 

29930

 

 

AS ON 29.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Natural Stones such as Granite, Marble, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         China

·         Poland

·         Turkey

 

 

Imports :

 

Products :

Machines

Countries :

China

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name:

Gangwal Carries Private Limited, Rajasthan

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

Company Name:

Multiwyn Exports Limited, Jaipur

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

20 (Approximately)

 

 

Bankers :

Bank Name:

State Bank of Bikaner and Jaipur

Branch:

Central Spine Branch, Vidhyadhar Nagar, Jaipur - 302012, Rajasthan, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-141-2230085 (Continuously Ringing)

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         ICICI Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan

 

 

Banks

 

 

ICICI Car Loan (INDICA)

0.050

0.130

ICICI Car Loan (INNOVA)

0.157

0.406

SBBJ Term Loan (61140002526)

8.138

10.446

SBBJ Term Loan (61091955438)

3.859

5.782

SBBJ Term Loan (61177198028)

1.918

1.649

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

 

 

Banks

 

 

SBBJ CC

14.390

12.211

SBBJ EPC Loan

3.032

0.000

Total

31.544

30.624

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Godika Dinesh and Company

Chartered Accountants

Address :

F-4,223, Bichoon Complex, Kishanpole Bazar, Jaipur-302001, Rajasthan, India

Income-tax PAN of auditor or auditor's firm :

AEIPG2515E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AFTER 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

350000

Equity Shares

Rs. 10/- each

Rs. 3.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

259930

Equity Shares

Rs. 10/- each

Rs. 2.599 Million

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250,000

Equity Shares

Rs. 10/- each

Rs. 2.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

230,000

Equity Shares

Rs. 10/- each

Rs. 2.300 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

2.300

2.300

1.300

(b) Reserves & Surplus

17.533

15.487

8.869

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

6.000

Total Shareholders’ Funds (1) + (2)

19.833

17.787

16.169

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

16.339

28.071

30.866

(b) Deferred tax liabilities (Net)

1.718

0.884

0.169

(c) Other long term liabilities

1.683

0.469

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

19.740

29.424

31.035

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

17.422

12.211

11.179

(b) Trade payables

17.332

10.814

4.757

(c) Other current liabilities

16.643

13.524

10.642

(d) Short-term provisions

0.535

0.452

0.081

Total Current Liabilities (4)

51.932

37.001

26.659

 

 

 

 

TOTAL

91.505

84.212

73.863

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

42.086

43.321

41.215

(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

0.691

0.482

0.499

(e) Other Non-current assets

0.417

0.568

0.044

Total Non-Current Assets

43.194

44.371

41.758

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

38.719

28.108

24.591

(c) Trade receivables

3.858

7.639

2.236

(d) Cash and cash equivalents

0.346

0.633

0.557

(e) Short-term loans and advances

5.315

3.429

4.642

(f) Other current assets

0.073

0.032

0.079

Total Current Assets

48.311

39.841

32.105

 

 

 

 

TOTAL

91.505

84.212

73.863

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Turnover

56.923

46.040

17.703

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX

2.586

2.183

0.459

 

 

 

 

 

Less

TAX                                                                 

0.887

1.178

0.256

 

 

 

 

 

 

PROFIT AFTER TAX

1.699

1.005

0.203

 

 

 

 

 

 

Earnings Per Share (Rs.)

7.39

4.37

1.56

 

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

65.000

 

 

 

 

 

Expected Sales (2015-2016): Rs. 80.000 Million

 

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

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

 

 

 

SBBJ Term Loan (61177198028)

0.416

0.318

0.065

SBBJ Term Loan (61091955438)

1.982

2.015

0.206

SBBJ Term Loan (61140002526)

2.419

2.452

2.308

ICICI Car Loan (INNOVA)

0.249

0.227

1.920

ICICI Car Loan (INDICA)

0.080

0.072

0.000

Total

5.146

5.084

4.499

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

NA

NA

NA

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.98

2.18

1.15

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.83

2.59

0.62

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.12

0.03

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.96

2.55

2.88

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.93

1.08

1.20

 

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

1.300

2.300

2.300

Reserves & Surplus

8.869

15.487

17.533

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

6.000

0.000

0.000

Net worth

16.169

17.787

19.833

 

 

 

 

Long-term borrowings

30.866

28.071

16.339

Short term borrowings

11.179

12.211

17.422

CURRENT MATURITIES OF LONG-TERM DEBTS

4.499

5.084

5.146

Total borrowings

46.544

45.366

38.907

Debt/Equity ratio

2.879

2.551

1.962

 

 

 

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)

Turnover

17.703

46.040

56.923

 

 

160.069

23.638

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover

17.703

46.040

56.923

Profit

0.203

1.005

1.699

 

1.15%

2.18%

2.98%

 

 

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

No

18

Major suppliers

Yes

19

Major customers

Yes

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

Yes

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

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10561676

20/03/2015

3,500,000.00

STATE BANK OF BIKANER AND JAIPUR

CENTRAL SPINE BRANCH, VIDYADHAR NAGAR, JAIPUR- 302012,
RAJASTHAN, INDIA

C50169457

2

10401296

07/01/2013

2,550,000.00

STATE BANK OF BIKANER AND JAIPUR

CENTRAL SPINE BRANCH, VIDYADHAR NAGAR, JAIPUR- 302012,
RAJASTHAN, INDIA

B67354548

3

10305882

29/08/2011

15,000,000.00

STATE BANK OF BIKANER AND JAIPUR

CENTRAL SPINE BRANCH, VIDHYADHAR NAGAR, JAIPUR- 302023, RAJASTHAN, INDIA

B20355681

4

10211466

30/06/2011 *

12,500,000.00

STATE BANK OF BIKANER AND JAIPUR

CENTRAL SPINE BRANCH, VIDHDHAR NAGAR, JAIPUR- 302012, RAJASTHAN, INDIA

B16051161

5

10211464

20/03/2015 *

30,000,000.00

STATE BANK OF BIKANER AND JAIPUR

CENTRAL SPINE BRANCH,, VIDHYADHAR NAGAR,, JAIPUR- 302012,
RAJASTHAN, INDIA

C50174366

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Loan and Advances From Related Parties

 

 

Director

0.000

0.442

Other

0.000

7.000

Loan and Advances From Others

2.217

2.216

 

 

 

Total

2.217

9.658

 

WORKING PERFORMANCE:

 

The current year of the company is satisfactory with regards to turnover, profit and production of the company. The Production of the year is 34267.850 MT in comparison of Previous year Production 58993.350 MT and the Turnover is Rs.56.923 Million in comparison to previous year of Rs. 46.040 Million. Further the Net profit before tax of the current year is Rs. 2.586 Million in comparison of 2.183 Million of previous year.

 

 

FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Equipment

·         Furniture and Fixtures

·         Vehicles

 

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. 66.35

UK Pound

1

 Rs. 100.28

Euro

1

Rs.  71.30

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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.