MIRA INFORM REPORT
|
Report No. : |
344496 |
|
Report Date : |
09.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KCN EXPORTS LIMITED |
|
|
|
|
Registered
Office : |
M-29, APMC Market I, Phase II, Vashi, Navi Mumbai – 400705,
Maharashtra |
|
Tel. No.: |
91-22-27892613 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-131456 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51311MH2001PLC131456 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK06818A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK6486E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, trader and importer of spices, oil seeds, medicinal herbs,
red chillies, soybean seeds, almonds, cashew nuts, turmeric powder etc. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2001 having
moderate track. The company has shown growth in its turnover during FY 2014. However,
profit margin of the company is very low. Further, the rating takes into consideration low reserves level of the
company. Their trade relations are reported as fair. Business is active.
Payment terms 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE2B |
|
Rating Explanation |
Moderate financial strength and moderate
performance capability. |
|
Date |
April, 2014 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Chetan Anand |
|
Designation : |
Director |
|
Contact No.: |
91-9819155781 |
|
Date : |
09.10.2015 |
LOCATIONS
|
Registered Office : |
M-29, APMC Market I, Phase II, Vashi, Navi Mumbai – 400705,
Maharashtra, India |
|
Tel. No.: |
91-22-27892613 |
|
Mobile No.: |
91-9819155781 (Mr. Chetan) |
|
Fax No.: |
91-22-27892611 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
A 405, TTC Industrial Area, MIDC Mahape, Navi Mumbai – 400701,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Chetan Anand |
|
Designation : |
Director |
|
Address : |
32, Neel Kamal Apartment, H-3/16 Vikas Puri, New Delhi - 110018, India |
|
Date of Appointment : |
02.04.2001 |
|
DIN No.: |
01990967 |
|
|
|
|
Name : |
Mr. NIKHIL SUBASH ANAND |
|
Designation : |
Director |
|
Address : |
401, Sonal, 279, Shere, Punjab, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Date of Appointment : |
02.04.2001 |
|
DIN No.: |
01992360 |
|
|
|
|
Name : |
Mr. Kapil Subhash Anand |
|
Designation : |
Director |
|
Address : |
401, Sonal Apartments, 279, Shor-E Punjab Society, MIDC Andheri, Mumbai - 400093, Maharashtra, India |
|
Date of Appointment : |
02.04.2001 |
|
DIN No.: |
01992373 |
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, trader and importer of spices, oil seeds, medicinal herbs,
red chillies, soybean seeds, almonds, cashew nuts, turmeric powder etc. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
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|
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Agencies Held : |
Not Divulged |
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Exports : |
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|
Products : |
Finished Goods |
|
Countries : |
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
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|
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Terms : |
|
|
Selling : |
L/C, Credit |
|
|
|
|
Purchasing : |
L/C, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
· Punjab and Sind Bank, Plot 14/sector-26-A/Palm Beach Road, Kopri, Vashi, Navi Mumbai - 400705, Maharashtra, India |
|
Auditors : |
|
|
Name : |
V. J. Shah and Company Chartered Accountants |
|
Address : |
401-406, 'K' Building, Walchand Hirachand Marg, Ballard Estate, Mumbai
– 400001, Maharashtra, India |
|
PAN No.: |
AAAFV0230F |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
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Collaborators : |
Not Divulged |
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|
|
|
Sister Concern : |
Nikhil Corporation |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
5.630 |
4.647 |
3.741 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
3.488 |
3.488 |
3.488 |
|
Total
Shareholders’ Funds (1) + (2) |
19.118 |
18.135 |
17.229 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.000 |
6.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.288 |
0.288 |
0.307 |
|
(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) |
6.288 |
6.288 |
0.307 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
22.719 |
29.936 |
26.939 |
|
(b) Trade
payables |
183.361 |
20.199 |
50.688 |
|
(c) Other
current liabilities |
50.552 |
17.908 |
0.440 |
|
(d) Short-term
provisions |
0.458 |
0.550 |
0.298 |
|
Total Current
Liabilities (4) |
257.090 |
68.593 |
78.365 |
|
|
|
|
|
|
TOTAL |
282.496 |
93.016 |
95.901 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.381 |
3.927 |
4.485 |
|
(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 |
0.021 |
0.021 |
0.021 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.276 |
4.427 |
3.009 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
25.678 |
8.375 |
7.515 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
60.501 |
53.304 |
43.538 |
|
(c) Trade
receivables |
189.164 |
30.397 |
43.243 |
|
(d) Cash
and cash equivalents |
6.729 |
0.606 |
1.401 |
|
(e) Short-term
loans and advances |
0.000 |
0.051 |
0.000 |
|
(f) Other
current assets |
0.424 |
0.283 |
0.204 |
|
Total
Current Assets |
256.818 |
84.641 |
88.386 |
|
|
|
|
|
|
TOTAL |
282.496 |
93.016 |
95.901 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
441.605 |
221.988 |
191.639 |
|
|
|
Other Income |
3.432 |
7.063 |
2.456 |
|
|
|
TOTAL (A) |
445.037 |
229.051 |
194.095 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
412.511 |
206.294 |
170.442 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(7.197) |
(9.766) |
(2.726) |
|
|
|
Employee Benefits Expenses |
3.317 |
3.198 |
2.191 |
|
|
|
Other Expenses |
30.186 |
24.216 |
18.241 |
|
|
|
TOTAL (B) |
438.817 |
223.942 |
188.148 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.220 |
5.109 |
5.947 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.213 |
3.052 |
4.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2.007 |
2.057 |
1.936 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.584 |
0.620 |
0.693 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1.423 |
1.437 |
1.243 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.440 |
0.531 |
0.566 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.983 |
0.906 |
0.677 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.98 |
-- |
-- |
|
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) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.22 |
0.41 |
0.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.41 |
2.30 |
3.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.50 |
1.55 |
1.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.08 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.50 |
1.98 |
1.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.23 |
1.13 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
3.741 |
4.647 |
5.630 |
|
Share Application money pending
allotment |
3.488 |
3.488 |
3.488 |
|
Net
worth |
17.229 |
18.135 |
19.118 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
6.000 |
6.000 |
|
Short term borrowings |
26.939 |
29.936 |
22.719 |
|
Total
borrowings |
26.939 |
35.936 |
28.719 |
|
Debt/Equity
ratio |
1.564 |
1.982 |
1.502 |
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 |
191.639 |
221.988 |
441.605 |
|
|
|
15.837 |
98.932 |
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
|
191.639 |
221.988 |
441.605 |
|
Profit |
0.677 |
0.906 |
0.983 |
|
|
0.35% |
0.41% |
0.22% |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
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 |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
FINANCIAL RESULTS:
The Company has made a profit before tax of Rs. 1.423 million (Previous year Profit Rs. 1.437 million) during the year after providing Rs. 0.584 million for Depreciation (Previous year Rs. 0.620 million) and the same has been carried forward to the Balance Sheet.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Loans and
Advances from Related Parties Unsecured,
Considered Good |
|
|
|
Nikhil Corporation |
6.000 |
6.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Short Term - Loans and Advances From Related Parties |
3.449 |
0.000 |
|
Other Borrowings |
19.270 |
29.936 |
|
|
|
|
|
Total |
28.719 |
35.936 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10373412 |
10/11/2014 * |
85,000,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
C34580290 |
*Date of modification Charges
FIXED ASSETS:
· Plant and Machinery
· Furniture and Fixture
· Office Equipment
· Computer
· UPS-APC
· Industrial Gala at S
· M-29 Gala
· Water Purifier
· Weighing Scale
· Fire Extinguisher
· Air Conditioner
· Electronic Weighing
· Bar Coding Machine
· Currency Counting Machine
· Scanner Symbol
· Air Curtain
· Weight
· Lab Equipment
· Printer
· Vehicles
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 records 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.65.16 |
|
|
1 |
Rs.99.78 |
|
Euro |
1 |
Rs.73.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
|
30 |
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.