MIRA INFORM REPORT
|
Report No. : |
346736 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SONKAMAL ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 602, Sunil Enclave, |
|
Tel. No.: |
91-22-28316876 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.10.1999 |
|
|
|
|
Com. Reg. No.: |
11-122093 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 42.413
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51410MH1999PTC122093 |
|
|
|
|
IEC No.: |
0394022891 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM21156C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS2623Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealer and Trader of chemical. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 |
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|
|
Comments : |
Subject was incorporated in the year 1999 and it is a petrochemical distribution company. The company products include phenol, acetone, methonol, acrylic acid, ethyl acrylate, toulene, methonol, di- acetone and isophorone. For the financial year ended 2014, company possesses above average operational performance and reported stagnant net profit during the year under a review. Rating takes into consideration the long and extensive experience of the promoters in the chemical trading industry supported by company's sound financial base and satisfactory debt coverage indicators. Trade relations are reported as fair. Payment terms are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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 |
ICRA |
|
Rating |
Fund Based-Cash Credit: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
November 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based-Letter of Credit/ Bank Guarantee: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
November 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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Virag Janak Ladhani |
|
Designation : |
Director |
|
Contact No.: |
91-9833195602 |
|
Date : |
27.10.2015 |
LOCATIONS
|
Registered /
Head Office : |
Unit No. 602, Sunil Enclave, Pereira Hill Road, Andheri
(East), Mumbai-400099, Maharashtra, India |
|
Tel. No.: |
91-22-28316876 / 28316877 /
28316878 /28316880 |
|
Mobile No.: |
91-9833195602 (Mr. Virag Janak Ladhani) |
|
Fax No.: |
91-22-28316879 |
|
E-Mail : |
sales@sonkamal.com |
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Ahmadabad Office
: |
B-31, Goyal
Tower, University road, opposite Gulbai Tekra Police Station,
Near Jahanvee Restaurant, Ahmedabad-380015, Gujarat, India |
|
|
|
|
Warehouse : |
PANVEL SITE: Plot No.42/2 , Survey No.1, Next to L and T Godown Old Bombay Pune Road, Bhokarpada, Panvel, District Raigad-410207, Maharashtra, India |
|
Tel. No.: |
95 –2192-255508 /255214 |
|
Fax No.: |
95 –2192-255515 |
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E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Janak Pranlal Ladhani |
|
Designation : |
Managing Director |
|
Address : |
2201, Richmond Tower, Cliff Avenue Road, Near SM Shetty,
High School, Hiranandani Gardens Powai, Andheri (East), Mumbai - 400076,
Maharashtra, India |
|
Date of Birth/Age : |
13.07.1957 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
06.10.1999 |
|
Din No.: |
00045356 |
|
Pan No.: |
AAAPL2294H |
|
|
|
|
Name : |
Mrs. Meena Janak Ladhani |
|
Designation : |
Director |
|
Address : |
501, Siddhi Vinayak Apartments, M.V. Road, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1964 |
|
Qualification: |
S. S. C. |
|
Date of Appointment : |
06.10.1999 |
|
Din No.: |
00045261 |
|
PAN No.: |
ABDPL5812F |
|
|
|
|
Name : |
Mr. Virag Janak Ladhani |
|
Designation : |
Additional director |
|
Address : |
2201, Richmond Tower, Cliff Avenue Road, Near SM Shetty,
High School, Hiranandani Gardens Powai, Andheri (East), Mumbai - 400076,
Maharashtra, India |
|
Date of Birth/Age : |
23.11.1988 |
|
Date of Appointment : |
22.08.2015 |
|
Din No.: |
01590678 |
|
PAN No.: |
AAQPL4992E |
|
|
|
|
Name : |
Mr. Vinodrai Bhupatrai Shah |
|
Designation : |
Director |
|
Address : |
403, Monica (1), Near Natraj Studio, |
|
Date of Birth/Age : |
13.07.1966 |
|
Date of Appointment : |
14.06.2007 |
|
Din No.: |
01590610 |
|
PAN No.: |
AEQPS2675R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Janak Pranlal Ladhani |
|
278125 |
|
Meena Janak Ladhani |
|
97500 |
|
Taraben Pranlal Ladhani |
|
20000 |
|
Virag Janak Ladhani |
|
23500 |
|
Vinodrai Bhupatrai Shah |
|
1 |
|
Hitesh Pushkarlal Tambadia |
|
1 |
|
Janak Pranlal Ladhani (HUF) |
|
5000 |
|
TOTAL
|
|
424127 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Trader of chemical. |
|
|
|
|
Products : |
Chemicals |
|
|
|
|
Brand Names : |
Not Divulged |
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|
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Agencies Held : |
Herdillia Chemicals Limited |
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|
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Exports : |
Not Divulged |
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Imports : |
|
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Products : |
Chemicals |
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Countries : |
|
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|
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Terms : |
|
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Selling : |
Cash and Credit (30,60,90 Days) |
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|
|
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Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. D.
Mehta Associates Chartered
Accountants |
|
Address : |
Balakrishna
Chambers, Office No. 18, 2nd Floor, 1/4 Issaji Street Vadgadi, Mumbai
– 400 003, Maharashtra, India |
|
Tel. No.: |
91-22-23441661
/ 23441635 |
|
Mobile No.: |
91-9819190230 |
|
Fax No.: |
91-22-23441661
/ 23441635 |
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E-Mail : |
|
|
PAN No.: |
AAAPM6842Q |
|
|
|
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Memberships : |
-- |
|
|
|
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Collaborators : |
-- |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management personnel and their
relatives: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.100/- each |
Rs.45.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
424127 |
Equity Shares |
Rs.100/-
each |
Rs.42.413
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 |
42.413 |
42.413 |
42.413 |
|
(b) Reserves & Surplus |
216.997 |
189.267 |
161.300 |
|
(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) |
259.410 |
231.680 |
203.713 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
48.907 |
47.369 |
48.577 |
|
(b) Deferred tax liabilities
(Net) |
0.121 |
0.108 |
0.210 |
|
(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) |
49.028 |
47.477 |
48.787 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
191.328 |
159.428 |
298.965 |
|
(b) Trade payables |
540.735 |
356.552 |
365.392 |
|
(c) Other current liabilities |
6.813 |
2.242 |
5.189 |
|
(d) Short-term provisions |
7.826 |
4.472 |
0.875 |
|
Total
Current Liabilities (4) |
746.702 |
522.694 |
670.421 |
|
|
|
|
|
|
TOTAL |
1055.140 |
801.851 |
922.921 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9.083 |
7.550 |
8.151 |
|
(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 |
7.382 |
7.540 |
4.085 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
16.465 |
15.090 |
12.236 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
26.846 |
16.200 |
52.686 |
|
(c) Trade receivables |
809.830 |
591.024 |
704.541 |
|
(d) Cash and cash equivalents |
170.774 |
145.699 |
128.036 |
|
(e) Short-term loans and
advances |
31.225 |
33.838 |
25.422 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1038.675 |
786.761 |
910.685 |
|
|
|
|
|
|
TOTAL |
1055.140 |
801.851 |
922.921 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
PROFIT |
42.392 |
42.381 |
19.676 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
12.822 |
3.148 |
2.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
71.323 |
52.741 |
NA |
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 flows from (used in) operations |
11.007 |
178.844 |
(45.749) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.93 |
0.89 |
1.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.51 |
1.36 |
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 |
42.413 |
42.413 |
42.413 |
|
Reserves & Surplus |
161.300 |
189.267 |
216.997 |
|
Net
worth |
203.713 |
231.680 |
259.410 |
|
|
|
|
|
|
long-term borrowings |
48.577 |
47.369 |
48.907 |
|
Short term borrowings |
298.965 |
159.428 |
191.328 |
|
Total
borrowings |
347.542 |
206.797 |
240.235 |
|
Debt/Equity
ratio |
1.706 |
0.893 |
0.926 |
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 |
Yes |
|
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 |
Yes |
|
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 |
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 |
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 to the tune of Rs. 42.392 Million as against profit of Rs.42.381 Million during the previous year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
48.907 |
46.487 |
|
Total |
48.907 |
46.487 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10592004 |
01/09/2015 |
40,500,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
C64711385 |
|
2 |
10320690 |
01/09/2015 * |
370,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
C63874952 |
|
3 |
90146082 |
13/03/2015 * |
630,000,000.00 |
STATE BANK OF INDIA |
IFB, NATRAJ BUILDING, 102, 1ST FLOOR, 194,, SIR M |
C49127301 |
* Date of charge modification
CONTINGENT
LIABILITIES: (AS ON 31.03.2014)
i) Sales tax demand of Rs.9.669 Million for the F.Y.2005 - 06 F.Y. 2006-07 Rs.13.988 Million and for F.Y.2008-09 Rs. 7.676 Million for which company is in appeal with Appeallate authority.
ii) Sales Tax Demand for Pending Form C Liability 0.436 Million f.y. 2009 - 2010
iii) Company has given the Bank Guarantee of Rs.120.000 Million to M/s. SI Group India Limited and Hindusthan
Organic Chemcials Limited Rs. 10.000 Million towards outstanding amount payable to them for supply of material.
The company has also loged with the bank 15% of the aggregate value of bank guarantee by way of fixed deposit.
iv)Outstanding Foreign Letter of Credit to State Bank of India is Rs.88.622 Million and with Standard Chartered Bank it is Rs./-166.204 Million-
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
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.64.96 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
48 |
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.