MIRA INFORM REPORT
|
Report No. : |
350630 |
|
Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUNWAL PROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Runwal and Omkar Esquare, Off Eastern Express Highway,
Opposites Sion Chunabhatti Signal, Sion (East), Mumbai-400022, Maharashtra |
|
Tel. No.: |
91-22-61133100/ 61133000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-186810 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 59.875 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH2008PTC186810 |
|
|
|
|
IEC No.: |
Not Applicable (Note:- As claimed by company management chat company
does not export and import) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR1786P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Activity |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of Runwal Developers Private Limited. It was
incorporated in the year 2008. Director are reported as resourceful Real Estate developers. For the financial year ended 2014, the company has incurred losses
from its operational activity. Rating is constrain on account of risk associate with real estate
business and unhealthy nature of construction industries. However, the company has satisfactory financial base along with
adequate net worth position. Trade relations are fair. Business is active. Payments are 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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-6113300)
LOCATIONS
|
Registered Office : |
5th Floor, Runwal and Omkar Esquare, Off Eastern Express Highway,
Opposites Sion Chunabhatti Signal, Sion (East), Mumbai-400022, Maharashtra,
India |
|
Tel. No.: |
91-22-61133100/ 61133000 |
|
Fax No.: |
91-22-61133186/ 24093749 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Varadarajan Anant Hanarayanan |
|
Designation : |
Director |
|
Address : |
A-6/3, Shree Ram Nagar, S. V. Road, Andheri - West, Mumbai - 400058, Maharashtra, India |
|
Date of Birth/Age : |
28.05.1957 |
|
Date of Appointment : |
10.07.2013 |
|
DIN No.: |
00017307 |
|
|
|
|
Name : |
Mr. Sandeep Subhash Runwal |
|
Designation : |
Director |
|
Address : |
CTS No. 757, Marine Mansion, 6, BJ Road, Near, Sisters Bunglow, Bandstand, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1971 |
|
Date of Appointment : |
16.09.2008 |
|
DIN No.: |
00068584 |
|
|
|
|
Name : |
Mr. Saleh Taher Afimiwala |
|
Designation : |
Director |
|
Address : |
702 Latasoni, TPS - III, 30th Road, Bandra West, Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1969 |
|
Date of Appointment : |
24.09.2014 |
|
DIN No.: |
01882628 |
KEY EXECUTIVES
|
Name : |
Mr. Jignasha Chetan Thakkar |
|
Designation : |
Secretary |
|
Address : |
102 Shri Rajshree Vihar - D Colony Rajawadi,, Chitranjan Nagar, Vidyavihar (East), Mumbai-400077, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1975 |
|
PAN |
AFCPT3577J |
|
Date of Appointment : |
01.12.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
LIST PF ALLOTTEES:
As on: 12.02.2015
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Equity Class A |
|
|
|
Runwal Developers Private Limited, India |
|
53228 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Equity Class A |
|
|
|
Runwal Developers Private Limited, India |
|
167253 |
As on: 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Equity Class A |
|
|
|
Runwal Developers Private Limited, India |
|
65000 |
|
IL and FS Trust Company Limited, India |
|
978 |
|
IIRF India Realty IX Limited, Mauritius |
|
34022 |
|
Equity Class B |
|
|
|
Runwal Developers Private Limited, India |
|
175000 |
|
Equity Class C |
|
|
|
Runwal Developers Private Limited, India |
|
41250 |
|
IL and FS Trust Company Limited, India |
|
3457 |
|
IIRF India Realty IX Limited, Mauritius |
|
120293 |
|
Total |
|
440000 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Runwal Developers Private Limited, India |
|
4750 |
|
Runwal Developers Private Limited, India |
|
125348 |
|
IL and FS Trust Company Limited, India |
|
11861 |
|
IIRF India Realty IX Limited, Mauritius |
|
412791 |
|
Total |
|
554750 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
34.02 |
|
Bodies corporate |
65.98 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real estate business and unhealthy nature of construction industries. |
|
|
|
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Products : |
- |
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|
|
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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 : |
Not Divulged |
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|
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India
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Facilities : |
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Banking
Relations : |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
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|
|
|
Auditors : |
|
|
Name : |
M.B. Agrawal and Company Chartered Accountants |
|
Address : |
204, Mhatre Pen Building, Senapati Bapat Marg, Dadar (W), Senapati
Bapat Marg, Dadar(W), Mumbai-400028, Maharashtra, India |
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Pan: |
AABFM5230D |
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E-Mail : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
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Joint Venture: |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
|
CAPITAL STRUCTURE
After As
30.09.2014
Authorised Capital : Rs. 62.650 Million
Issued, Subscribed & Paid-up Capital : Rs. 45.142
Million
As on: 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.10/- each |
Rs. 4.500 Million |
|
555000 |
Preference Shares |
Rs.100/- each |
Rs. 55.500 Million |
|
|
Total |
|
Rs. 60.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
440,000 |
Equity Shares |
Rs.10/- each |
Rs. 4.400 Million |
|
554,750 |
Preference Shares |
Rs.100/- each |
Rs. 55.475 Million |
|
|
Total |
|
Rs. 59.875
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 |
59.875 |
59.875 |
59.875 |
|
(b) Reserves & Surplus |
1609.622 |
1610.359 |
1604.856 |
|
(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) |
1669.497 |
1670.234 |
1664.731 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1546.242 |
0.000 |
256.366 |
|
(b) Deferred tax liabilities (Net) |
0.291 |
0.000 |
12.172 |
|
(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) |
1546.533 |
0.000 |
268.538 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
405.056 |
262.688 |
0.000 |
|
(b) Trade
payables |
63.097 |
25.865 |
31.956 |
|
(c) Other current
liabilities |
2155.849 |
1778.854 |
707.934 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
2624.002 |
2067.407 |
739.890 |
|
|
|
|
|
|
TOTAL |
5840.032 |
3737.641 |
2673.159 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
12.060 |
0.142 |
0.150 |
|
(ii)
Intangible Assets |
0.082 |
0.124 |
0.166 |
|
(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 |
2083.250 |
1162.871 |
462.873 |
|
(e) Other Non-current
assets |
0.000 |
1.000 |
8.890 |
|
Total Non-Current
Assets |
2095.392 |
1164.137 |
472.079 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
49.045 |
155.829 |
|
(b)
Inventories |
3542.621 |
2437.026 |
1998.664 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
14.681 |
8.952 |
20.077 |
|
(e)
Short-term loans and advances |
187.338 |
77.561 |
25.590 |
|
(f) Other
current assets |
0.000 |
0.920 |
0.920 |
|
Total
Current Assets |
3744.640 |
2573.504 |
2201.080 |
|
|
|
|
|
|
TOTAL |
5840.032 |
3737.641 |
2673.159 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
SALES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(0.737) |
5.503 |
7.151 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.68) |
12.51 |
16.25 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
93.634 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(1577.404) |
138.544 |
(406.319) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.17 |
0.16 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.24 |
2.97 |
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 |
59.875 |
59.875 |
59.875 |
|
Reserves & Surplus |
1604.856 |
1610.359 |
1609.622 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1664.731 |
1670.234 |
1669.497 |
|
|
|
|
|
|
long-term borrowings |
256.366 |
0.000 |
1546.242 |
|
Short term borrowings |
0.000 |
262.688 |
405.056 |
|
Current maturities of
long-term debts |
93.634 |
0.000 |
0.000 |
|
Total borrowings |
350.000 |
262.688 |
1951.298 |
|
Debt/Equity ratio |
0.210 |
0.157 |
1.169 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
No |
|
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 LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures others |
700.000 |
0.000 |
|
Short-term
borrowings |
0.000 |
0.000 |
|
Other loans and advances, others |
405.056 |
262.688 |
|
Total |
1105.056 |
262.688 |
NOTE: Registered office of the company has been shifted from “Runwal Chambers, 1st Road, Chembur, Mumbai- 400071, Maharashtra, India to the present address w.e.f. 20.07.2010
FINANCIAL RESULTS:
The Company has made loss of Rs. 0.737 Million (as compared to Previous Year Profit of Rs. 5.503 Million) for the financial year ended March 31, 2014.
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10413937 |
24/09/2015 * |
5,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
C67235655 |
* Date
of charge modification
FIXED ASSETS:
- Building
- Plant and equipment
- Vehicles
- Office equipment
- Computer equipments
- Computer software
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.66.35 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
31 |
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.