MIRA INFORM REPORT
|
Report No. : |
346096 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
GALAXY GLASS PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 25, 26 and 27, Sipcot Industrial Park, Sriperumbudur, Kanchipuram
– 602105, Tamilnadu |
|
Tel. No.: |
91-44-27168067 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.05.2005 |
|
|
|
|
Com. Reg. No.: |
18-056265 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 45.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201TN2005PTC056265 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEG08096E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG3525D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Tempered/ Toughened, Insulated/Double Glaze,
Printed and Frosted Glass for Architectural and Industrial Needs. |
|
|
|
|
No. of Employees
: |
No Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2007. It
has moderate track. The company has earned minimal profit from its operations in FY 14 as
against previous year losses. However, there has been noted accumulation of
previous year losses, which has resulted in erosion of the networth. Further, the company has taken addition external borrowings in the
year under consideration. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. In view of aforesaid, the company can be considered for business
dealings with fully safe and secured 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = (B+) |
|
Rating Explanation |
Quality and carry very high credit risk |
|
Date |
21.10.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = (A4) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
21.10.2014 |
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 DECLINED
MANAGEMENT NON CO-OPERATIVE
(TEL. NO.: 91-44-27768067/ 27192024
Mob. No.: 9840937756/ 8048425076)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 25, 26 and 27, Sipcot Industrial Park, Sriperumbudur,
Kanchipuram – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27168067/ 68 |
|
Fax No.: |
91-44 27168070 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Usha Omanakuttan |
|
Designation : |
Director |
|
Address : |
Harekrishna, Vallikavumukku, Perunna,, Changanacherry - 686102, Kerala, India |
|
Date of Birth/Age : |
30.11.1957 |
|
Date of Appointment : |
22.05.2005 |
|
DIN No.: |
02042540 |
|
|
|
|
Name : |
Mr. Moolayil Omanakuttan |
|
Designation : |
Director |
|
Address : |
Harekrishna, Vallikkavumukku, Perunna, Changanacherry - 686102, Kerala, India |
|
Date of Birth/Age : |
01.06.1950 |
|
Date of Appointment : |
22.05.2015 |
|
DIN No.: |
02042632 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Moolayil Omanakuttan |
225000 |
50.00 |
|
Usha Omanakuttan |
225000 |
50.00 |
|
|
|
|
|
Total |
450000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Tempered/ Toughened, Insulated/Double
Glaze, Printed and Frosted Glass for Architectural and Industrial Needs. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
· The Federal Bank Limited Mount Road Branch, No. 61, Anna Salai, Chennai -
600002, Tamilnadu, India |
|
Auditors : |
|
|
Name : |
Srinivasan Ganesan and Associates Chartered Accountants |
|
Address : |
No 11/22 1st Floor R.V Nagar, V Cross Street Anna Nagar East, Chennai
– 600102, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AVQPS0546Q |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450,000 |
Equity Shares |
Rs. 100/- each |
Rs. 45.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450,000 |
Equity Shares |
Rs. 100/- each |
Rs. 45.000
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 |
45.000 |
45.000 |
15.000 |
|
(b) Reserves & Surplus |
(62.293) |
(66.346) |
(49.290) |
|
(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) |
(17.293) |
(21.346) |
(34.290) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
10.625 |
31.079 |
48.126 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.036 |
2.344 |
|
(c)
Other long term liabilities |
81.388 |
57.118 |
73.886 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
92.013 |
90.233 |
124.356 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
60.634 |
75.766 |
72.439 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
60.634 |
75.766 |
72.439 |
|
|
|
|
|
|
TOTAL |
135.354 |
144.653 |
162.505 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
72.848 |
83.452 |
93.704 |
|
(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) |
1.267 |
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 |
74.115 |
83.452 |
93.704 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14.250 |
17.605 |
15.065 |
|
(c)
Trade receivables |
34.392 |
31.821 |
42.710 |
|
(d)
Cash and cash equivalents |
9.996 |
9.081 |
8.459 |
|
(e)
Short-term loans and advances |
2.298 |
2.246 |
2.377 |
|
(f)
Other current assets |
0.303 |
0.448 |
0.190 |
|
Total
Current Assets |
61.239 |
61.201 |
68.801 |
|
|
|
|
|
|
TOTAL |
135.354 |
144.653 |
162.505 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
128.990 |
129.989 |
149.869 |
|
|
|
Other Income |
3.016 |
3.803 |
3.659 |
|
|
|
TOTAL (A) |
132.006 |
133.792 |
153.528 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
68.484 |
81.859 |
100.980 |
|
|
|
Production Costs |
15.823 |
16.603 |
14.035 |
|
|
|
Prior Period Items |
19.771 |
21.333 |
18.347 |
|
|
|
Employees benefits expense |
(2.382) |
0.060 |
0.273 |
|
|
|
Other expenses |
18.878 |
18.948 |
20.628 |
|
|
|
TOTAL |
120.574 |
138.803 |
154.263 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.432 |
(5.011) |
(0.735) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.681 |
12.353 |
14.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.751 |
(17.364) |
(15.044) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(3.303) |
(0.307) |
(0.426) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
4.054 |
(17.057) |
(14.618) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
9.01 |
(37.90) |
(97.45) |
|
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) |
(%) |
3.14 |
(13.12) |
(9.75) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.86 |
(3.85) |
(0.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.56 |
(12.00) |
(9.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.81 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(0.61) |
(1.46) |
(1.40) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
0.81 |
0.95 |
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 |
15.000 |
45.000 |
45.000 |
|
Reserves & Surplus |
(49.290) |
(66.346) |
(62.293) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
(34.290) |
(21.346) |
(17.293) |
|
|
|
|
|
|
Long-term borrowings |
48.126 |
31.079 |
10.625 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
48.126 |
31.079 |
10.625 |
|
Debt/Equity
ratio |
(1.403) |
(1.456) |
(0.614) |
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 |
149.869 |
129.989 |
128.990 |
|
|
|
(13.265) |
(0.769) |
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 |
149.869 |
129.989 |
128.990 |
|
Profit |
(14.618) |
(17.057) |
4.054 |
|
|
(9.75%) |
(13.12%) |
3.14% |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10105097 |
05/03/2015
* |
73,014,000.00 |
THE
FEDERAL BANK LTD |
S V S
CLUB BUILDING, 61, ANNA SALAI, MOUNT ROAD, |
C46844098 |
* Date of charge modification
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from No.82/2,
Akshaya Apartment, Svenkatesa Nagari Cross Street Virugambakkam Chennai 600092,
Tamilnadu, India to the present address w.e.f. 21.12.2009.
CONTINGENT
LIABILITIES: (AS ON 31.03.2014)
a. The company has a liability towards customs duty of Rs.0.221 Million, if export obligation of Rs.1.772 Million is not fulfilled by the company.
b. IDBP Liability is Rs.9.397 Million.
FIXED ASSETS:
·
Leasehold Land
·
Building
·
Computers and Software
·
Furniture and Fittings
·
Office Equipment’s
·
Vehicles
·
Plant and Machinery
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.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.