MIRA INFORM REPORT

 

 

Report No. :

339363

Report Date :

04.09.2015

 

IDENTIFICATION DETAILS

 

Name :

ARMA ENGINEERING PRIVATE LIMITED

 

 

Registered Office :

No. 20, 2nd Floor, Uniworth Plaza, Sankey Road, Bangalore – 560020, Karnataka

Tel. No.:

91-80-23347000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.12.2011

 

 

Com. Reg. No.:

08-075728

 

 

Capital Investment / Paid-up Capital :

Rs. 31.000 Million

 

 

CIN No.:

[Company Identification No.]

U50200KA2011PTC075728

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRA20809F

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Importer of Car Engine Parts.

 

 

No. of Employees :

90 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Maximum Credit Limit :

USD 64700

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Even though the company was incorporated in the year 2011 the company commenced it’s commenced its commercial operation from October 2014. It is having a moderate track record.

 

As per available financial of 2014, the company has incurred some pre-operative expenses which has resulted into accumulated losses.

 

However, Capital base of the company is good.

 

Trade relations are reported to be improving. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealings with great 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

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Shirish

Designation :

Assistant Finance Manager

Contact No.:

91-9900038398

Date :

03.09.2015

 

 

LOCATIONS

 

Registered Office :

No. 20, 2nd Floor, Uniworth Plaza, Sankey Road, Bangalore – 560020, Karnataka, India

Tel. No.:

91-80-23347000

Mobile No.:

91-9900038398 (Mr. Shirish)

Fax No.:

91-80-23316852

E-Mail :

s-yaginuma@kawasaki-ind.co.jp

 

 

Factory :

Survey No. 213, Kanishmari No. 190/98, 33rd K.M. Kanakpura Road, Gabaddi Village, Harohalli Habli, Ramanagara Taluk, Bangalore – 562109, Karnataka, India

 

 

Communication Office :

No. 223, 100 Feet Road, 2nd Block, Banashankari, 3rd Stage, Bangalore – 560085, Karnataka, India

 

 

DIRECTORS

 

AS ON 13.09.2014

 

Name :

Muthukumar Ayarpadde

Designation :

Director

Address :

No. 66, Jalan Setiajaya Bukit Damansara, Kualalumpur, Malaysia 50490

Date of Birth/Age :

13.07.1972

Date of Appointment :

16.12.2011

DIN No.:

01799039

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U67120TN2007PTC062493

A-RANK HOLDINGS PRIVATE LIMITED

Director

23-02-2007

23-02-2007

Active

YES

2

U24221WB2006PTC112168

MULTICOAT COATING TECHNOLOGIES PRIVATE LIMITED

Director

06-04-2007

06-04-2007

Active

NO

3

U50101TN2005PTC056529

SATHYA AUTO PRIVATE LIMITED

Director

11-04-2007

11-04-2007

Active

NO

4

U29299TN2005PTC058228

CASTWEL AUTO PARTS PRIVATE LIMITED

Director

06-05-2007

06-05-2007

Active

NO

5

U29255PN2007PTC133046

UMW DONGSHIN MOTECH PRIVATE LIMITED

Additional director

27-07-2007

27-07-2007

Active

NO

6

U26922TG1997PTC027909

UNITED SEAMLESS TUBULAAR Private LIMITED

Director

23-08-2007

23-08-2007

Active

NO

7

U14108AS1990PTC003429

JAYBEE DRILLING PRIVATE LIMITED

Director

30-09-2009

19-03-2009

Active

NO

8

U28910TN2009PTC073165

ACME FAB - CON INDIA PRIVATE LIMITED

Director

12-10-2009

12-10-2009

Active

NO

9

U45400TN2011PTC083085

INDKO E&C INDIA PRIVATE LIMITED

Director

11-11-2011

11-11-2011

Active

NO

10

U50200KA2011PTC075728

ARMA ENGINEERING PRIVATE LIMITED

Director

16-12-2011

16-12-2011

Active

NO

11

U74999TN2013PTC089363

MKTRON (INDIA) PRIVATE LIMITED

Director

11-01-2013

11-01-2013

Active

NO

 

 

Name :

Mysore Ananda Kumar Madan Kumar

Designation :

Director

Address :

1156, Bojjanna Lane, Chamarajapuram, Mysore – 570005, Karnataka, India

Date of Birth/Age :

04.07.1973

Date of Appointment :

16.12.2011

DIN No.:

01865235

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U72200KA2001PTC028634

LOGROSOFT TECHNOLOGIES PRIVATE LIMITED

Director

16-02-2001

16-02-2001

Strike off

NO

2

U28910TN2009PTC073165

ACME FAB - CON INDIA PRIVATE LIMITED

Director

14-06-2010

14-06-2010

Active

NO

3

U29299TN2005PTC058228

CASTWEL AUTO PARTS PRIVATE LIMITED

Director

30-06-2011

30-06-2011

Active

NO

4

U50101TN2005PTC056529

SATHYA AUTO PRIVATE LIMITED

Director

30-06-2011

30-06-2011

Active

NO

5

U45400TN2011PTC083085

INDKO E&C INDIA PRIVATE LIMITED

Director

11-11-2011

11-11-2011

Active

NO

6

U50200KA2011PTC075728

ARMA ENGINEERING PRIVATE LIMITED

Director

16-12-2011

16-12-2011

Active

NO

7

U74999TN2013PTC089363

MKTRON (INDIA) PRIVATE LIMITED

Director

11-01-2013

11-01-2013

Active

NO

 

 

Name :

Shigenori Yaginuma

Designation :

Managing director

Address :

Block D, Flat No. 4022, Prestige Nottinghill, Kalena Agrahara, Bannerghatta Road, Near Meenakshi Temple, Bangalore – 560076, Karnataka, India

Date of Birth/Age :

21.11.1965

Date of Appointment :

15.06.2015

DIN No.:

05277032

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U34202KA2012PTC063877

KAWASAKI-MK INDUSTRIES INDIA PRIVATE LIMITED

Managing director

01-08-2013

31-05-2012

04-10-2014

Active

NO

2

U50200KA2011PTC075728

ARMA ENGINEERING PRIVATE LIMITED

Managing director

15-06-2015

29-05-2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Shirish

Designation :

Assistant Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 13.09.2014

 

Names of Shareholders

 

No. of Shares

 

Muthukumar Ayarpadde

 

1580999

Mysore Ananda Kumar Madan Kumar

 

1

Kawasaki MK Industries India Private Limited, India

 

1519000

 

 

 

Total

 

 

3100000

 

 

AS ON 13.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

49.00

Directors or relatives of directors

51.00

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Importer of Car Engine Parts.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

 

Products :

Car Engine Parts

Countries :

Japan

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End Users

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

90 (Approximately)

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         The Hongkong and Shanghai Banking Corporation Limited

M.G. Road, Bangalore, Karnataka, India

 

 

Facilities :

--

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Jain Christopher Srikanth Srikanth and Associates

Chartered Accountants

Address :

2nd Floor, Uniworth Plaza, No. 20, Sankey Road, Bangalore – 560020, Karnataka, India

Tel. No.:

91-80-23347000

Fax No.:

91-80-23316852

E-Mail :

admin@iccsglobal.com

Income-tax PAN of auditor or auditor's firm :

AAIFJ1163D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Joint Venture/ Associate :

Kawasaki MK Industries India Private Limited, India

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,100,000

Equity Shares

Rs. 10/- each

Rs. 31.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,100,000

Equity Shares

Rs. 10/- each

Rs. 31.000 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

31.000

31.000

0.100

(b) Reserves & Surplus

(8.343)

(1.178)

(0.073)

(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)

22.657

29.822

0.027

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

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)

0.000

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

0.000

0.000

0.000

(c) Other current liabilities

193.095

6.255

0.000

(d) Short-term provisions

0.235

0.087

0.073

Total Current Liabilities (4)

193.330

6.342

0.073

 

 

 

 

TOTAL

215.987

36.164

0.100

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

30.431

30.431

0.000

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

151.901

3.000

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

0.287

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

182.619

33.431

0.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and cash equivalents

1.293

2.707

0.000

(e) Short-term loans and advances

32.075

0.026

0.100

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

33.368

2.733

0.100

 

 

 

 

TOTAL

215.987

36.164

0.100

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                    

0.000

0.000

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

7.165

1.105

0.073

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

(7.165)

(1.105)

(0.073)

 

 

 

 

 

Less

TAX                                                     

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

(7.165)

(1.105)

(0.073)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(1.178)

(0.073)

0.000

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(8.343)

(1.178)

(0.073)

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

(2.31)

(15.95)

(7.31)

 

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

10.000

 

 

 

 

 

Expected Sales (2015-2016): Rs. 80.000 Million

 

The above information has been parted by Mr. Shirish (Assistant Finance Manager)

 

 

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

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(11.18)

(3.33)

(73.00)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.32)

(0.04)

(2.70)

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.17

0.43

1.37

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

0.100

31.000

31.000

Reserves & Surplus

(0.073)

(1.178)

(8.343)

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

0.027

29.822

22.657

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

 

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

No

20

Banking Details

Yes

21

Banking facility details

No

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10562566

16/07/2015 *

10,000,000.00

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

NO. 7, M. G. ROAD, BANGALORE, KARNATAKA - 560001, 
INDIA

C60432457

 

* Date of charge modification

 

 

REVIEW OF OPERATIONS

 

The Company has not yet commenced its operations. The Company has not earned any income during the financial year ended March 31, 2014 and previous financial year ended March 31, 2013. The Company has incurred net loss of Rs. 7.165 Million during the financial year ended March 31, 2014 as against a net loss of Rs. 1.105 Million in the previous financial year.

 

The construction of Company’s owned factory in Harohalli, Ramanagara Taluk near Bangalore in Karnataka is in progress and they envisage the construction to be completed and production to commence by January 2015.

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. 66.23

UK Pound

1

Rs. 101.22

Euro

1

Rs. 74.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

1

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

3

--RESERVES

1~10

1

--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

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

 

26

 

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.