MIRA INFORM REPORT

 

 

Report No. :

350549

Report Date :

20.11.2015

 

 IDENTIFICATION DETAILS

 

Name :

VDA INFOSOLUTIONS PRIVATE LIMITED

 

 

Registered Office :

76, Shakuntala Apartments, Flat No. 5, First Floor, Opposite Jain Temple, Khar (West), Mumbai – 400052, Maharashtra

Tel. No.:

91-22-40135586

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.01.2010

 

 

Com. Reg. No.:

11-198543

 

 

Capital Investment / Paid-up Capital :

Rs. 1.200 Million

 

 

CIN No.:

[Company Identification No.]

U72900MH2010PTC198543

 

 

IEC No.:

Not Applicable (Note:- As claimed by company management chat company does not export and import)

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMV17460C

 

 

PAN No.:

[Permanent Account No.]

AADCV1728L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into Providing Technical Solutions and Services.

 

 

No. of Employees :

700 (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 incorporated in the year 2010. It is engaged into providing technical solutions and services.

 

For the financial year ended 2014, the company has healthy operational activity marked by decent top line growth along with profitability margin of 4.0%.

 

The company has satisfactory financial position along with efficient net worth base and negligible borrowings. It has favourable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payment are usually correct.

 

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.

 

 

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. Gururaj Joshi

Designation :

Accounts Manager

Contact No.:

91-9421050791

Date :

19.11.2015

 

 

LOCATIONS

 

Registered Office/ Head Office 1:

76, Shakuntala Apartments, Flat No. 5, First Floor, Opposite Jain Temple, Khar (West), Mumbai – 400052, Maharashtra, India

Tel. No.:

91-22- 40135586

Mob No.:

91-9421050791 (Mr. Gururaj Joshi)

Fax No.:

Not Available

E-Mail :

dhan_gokhale@hotmail.com

accounts@vdainfosolutions.com

info@vdainfosolutions.com

services@vdainfosolutions.com

enquiry@vdainfosolutions.com

ashutosh@vdainfosolutions.com

Website :

http://www.vdainfosolutions.com

Location :

Owned

Locality:

Residential

 

 

Corporate Office :

A-201, Technospace, Behind Maercedez Benz Showroom, Off Mumbai - Bangalore Highway, Baner, Pune – 411045, Maharashtra, India 

Tel. No.:

91-20-46771712

 

 

Head Office 2:

201/99, Abde Villa, S. V. Road, Khar (West), opposite HDFC Bank, Mumbai – 400 052, Maharashtra, India

 

 

Bangalore Office : 

202, 2nd Floor, Sterling Heights, No. 139, Infantry Road, Bangalore – 560001, Karnataka, India

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Ashutosh Yeshwant Deuskar

Designation :

Director

Address :

Flat-2 Prugatt Building, Near United Western Bank, Baner, Pune – 411045, Maharashtra, India

Date of Birth/Age :

06.11.1968

Date of Appointment :

01.01.2011

DIN No.:

02438967

 

 

Name :

Mr. Deepak Baburao Jadhav

Designation :

Director

Address :

76, Shakuntala Apartments, 5th Road, Khar (West), Mumbai - 400052, Maharashtra, India

Date of Birth/Age :

20.07.1963

Date of Appointment :

01.01.2011

DIN No.:

02443999

 

 

Name :

Mrs. Nisha Deepak Jadhav

Designation :

Director

Address :

76, Shakuntala Apartments, 5th Road, Khar (West), Mumbai - 400052, Maharashtra, India

Date of Birth/Age :

15.10.1971

Date of Appointment :

05.01.2010

DIN No.:

02825623

 

 

Name :

Mrs. Vrushali Vikas Save

Designation :

Director

Address :

202, Manan, Gulmohar Society Lane Chikuwadi, Borivali (West), Mumbai -400092, Maharashtra, India

Date of Birth/Age :

05.06.1976

Date of Appointment :

05.01.2010

DIN No.:

02825646

 

 

Name :

Mrs. Aparna Ashutosh Deuskar

Designation :

Director

Address :

405 Dhawalgiri, Green Park Hotel, Baner Road, Baner, Pune – 411045, Maharashtra, India

Date of Birth/Age :

21.03.1972

Date of Appointment :

01.01.2011

DIN No.:

03345525

 

 

Name :

Mr. Vikas Pandharinath Save

Designation :

Director

Address :

202, Manan, Gulmohar Society Lane Chikuwadi, Borivali (West), Mumbai -400092, Maharashtra, India

Date of Birth/Age :

24.06.1968

Date of Appointment :

01.01.2011

DIN No.:

02439014

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Gururaj Joshi

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2014

 

Names of Shareholders

No. of Shares

% of Holding

Vrushali Vikas Save

10000

8.33

Nisha Deepak Jadhav

10000

8.33

Aparna Ashutosh Deuskar

10000

8.33

Vikas Pandharinath Save

30000

25.00

Deepak Baburao Jadhav

30000

25.00

Ashutosh Yeshwant Deuskar

30000

25.00

Total

120000

100.00

 

 

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into Providing Technical Solutions and Services.

 

 

Products :

Product Descriptions

ITC Code

Automatic Data Processing Machines and units thereof

8471.00

Computer Software

8524.00

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :
  • Blue Star Limited
  • Parth Cooling Solutions
  • Achieve IT
  • Asha Accounting Services
  • Aqua Rock Enterprises
  • Bahar Computer Services
  • Dhananjay J Gokhale and Company
  • Ensemble Consultants
  • Exclusive Graphtcs
  • Gokhale Accounting Services

 

Reference :

Redington India Private Limited – Mumbai

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :
  • ABB Global Industries and Services Limited
  • Advik Hiotech Private Limited
  • Ahmednagar Shahar Sahakari Bank Maryadit
  • Alicon Casat alloys Limited
  • Angre Port Private Limited
  • AQ Mechanical and Electrical Manufacturing India Private Limited
  • Atos India Private Limited
  • Avalara Technologies Private Limited
  • Avnet Asia Pte. Limited (Singapore)
  • AXA Technologies Shared Services Private Limited

 

Reference :

Kotak Mahindra Bank-Mumbai

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

700 (Approximately)

 

 

Bankers :
  • HDFC Bank lImited

 

Banker Name

Bank of India

Branch Address

Mumbai Overseas Branch, 70-80, Mahatma Gandhi Road, Mezzaine Floor, Mumbai – 400023, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

91-22-22624925

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 Loans from Banks

0.809

1.652

SHORT TERM BORROWING

 

 

Cash Credit Facility from Banks

72.293

71.488

Total

73.102

73.140

 

Auditors :

 

Name :

Gokhale Associates

Chartered Accountants

Address :

B-08, Archana Co-Operative Society, Plot No.18, Sector-17, Vashi, Navi Mumbai-400703, Maharashtra, India

PAN No.:

AEEPG6687F

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Associates/Subsidiaries :

Not Divulged

 

 

CAPITAL STRUCTURE

 

As on 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150000

Equity Shares

Rs.10/- each

Rs.1.500 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

120000

Equity Shares

Rs.10/- each

Rs.1.200 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

1.200

1.200

1.200

(b) Reserves & Surplus

103.834

69.322

39.629

(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)

105.034

70.522

40.829

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.809

1.652

0.594

(b) Deferred tax liabilities (Net)

0.060

0.043

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)

0.869

1.695

0.594

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

72.328

71.523

20.356

(b) Trade payables

73.218

123.029

85.702

(c) Other current liabilities

27.215

41.839

16.589

(d) Short-term provisions

66.198

44.916

30.781

Total Current Liabilities (4)

238.959

281.307

153.428

 

 

 

 

TOTAL

344.862

353.524

194.851

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

13.831

5.484

4.085

(ii) Intangible Assets

0.033

0.055

0.036

(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

0.005

(d)  Long-term Loan and Advances

1.236

0.623

1.051

(e) Other Non-current assets

14.787

14.403

0.000

Total Non-Current Assets

29.887

20.565

5.177

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

16.289

43.965

19.162

(c) Trade receivables

126.187

191.772

125.05

(d) Cash and cash equivalents

60.039

17.082

7.43

(e) Short-term loans and advances

2.563

2.076

0.54

(f) Other current assets

109.870

78.064

37.492

Total Current Assets

314.948

332.959

189.674

 

 

 

 

TOTAL

344.862

353.524

194.851

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

610.066

305.922

 

 

Other Income

 

18.921

7.104

 

 

TOTAL            

846.285

628.987

313.026

 

 

 

 

 

Less

TOTAL EXPENSES

794.918

583.746

NA

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

51.367

45.241

NA

 

 

 

 

 

Less

TAX                 

16.784

15.548

NA

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

34.583

29.693

19.497

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

5.373

126.873

2.059

 

TOTAL EARNINGS

5.373

126.873

2.059

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Purchase of Stock in Trade

NA

123.715

26.280

 

 

Purchase of Service

NA

3.158

2.139

 

TOTAL IMPORTS

NA

126.873

28.419

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

288.19

247.44

477.33

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1000.000

 

Expected Sales (2015-16): Rs. 1200.000 Million

 

The above information has been parted by Mr. Gururaj Joshi (Account Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.809

0.779

0.227

Cash generated from operations

88.028

(1.737)

NA

naNet Cash flows from operating activities

56.783

(25.637)

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)
NA

4.87

6.37

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

14.90

12.80

160.65

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.49

0.64

7.67

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.70

1.05

0.52

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.32

1.18

1.24

 

 

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

1.200

1.200

1.200

Reserves & Surplus

39.629

69.322

103.834

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

40.829

70.522

105.034

 

 

 

 

long-term borrowings

0.594

1.652

0.809

Short term borrowings

20.356

71.523

72.328

Current Maturities of Long-Term Debts

0.227

0.779

0.809

Total borrowings

21.177

73.954

73.946

Debt/Equity ratio

0.519

1.049

0.704

 

 

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 and Other Income

313.026

628.987

846.285

 

 

100.938

34.547

 

 

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 and Other Income

313.026

628.987

846.285

Profit

19.497

29.693

34.583

 

6.23%

4.72%

4.09%

 

 

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

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

 

 

 

UNSECURED LOAN

(Rs. In Million)

 

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWINGS

 

 

Loans and Advances from related parties

0.035

0.035

Total

0.035

0.035

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10455628

27/09/2013

11,200,000.00

Bank of India

Mumbai Overseas Branch, 70-80, Mahatma Gandhi Road,  Mezzaine Floor, Fort, Mumbai - 400023, Maharashtra, INDIA

B87804324

2

10335481

21/12/2013 *

92,500,000.00

Bank of India

Mumbai Overseas Branch, 70-80, Mahatma Gandhi Road,  Mezzaine Floor, Fort, Mumbai - 400023, Maharashtra, INDIA

B94126208

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

 

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.66.11

UK Pound

1

Rs.101.03

Euro

1

Rs.70.78

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

MTN

 

 

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

--PROFITABILITY

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

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

 

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.