MIRA INFORM REPORT

 

 

Report No. :

339978

Report Date :

11.09.2015

 

IDENTIFICATION DETAILS

 

Name :

KOMAL ELECTROTECH PRIVATE LIMITED

 

 

Registered Office :

I-24, New Madhupura Market, Near Police Commissioner Office, Shahibaug Road,  Ahmedabad – 380004, Gujarat

Tel. No.:

91-79-30224162

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.06.2010

 

 

Com. Reg. No.:

04-061353

 

 

Capital Investment / Paid-up Capital :

Rs. 0.113 Million

 

 

CIN No.:

[Company Identification No.]

U29100GJ2010PTC061353

 

 

IEC No.:

0810010216

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMK05651C

 

 

PAN No.:

[Permanent Account No.]

AAECK0117H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into manufacturing, trading, importing and repairing of all kinds of Industrial Electronic, Electrical Instruments.

 

 

No. of Employees :

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

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 during the year 2010. It has a moderate track record.

 

For the financial year 2014, the company has moderate operational activity marked by average sales turnover along with minimal profit earnings.

 

The company possesses modest financial risk profile along with huge borrowings taken by the company.

 

However, trade relations are improving. Payments terms are slow but correct.

 

The company can be considered for business dealings with some cautions.

 

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 31-03-2015.

 

INFORMATION PARTED BY

 

Name :

Mr. Chetan Padhyar

Designation :

Account Manager

Contact No.:

91-9099060710

Date :

07.09.2015

 

 

LOCATIONS

 

Registered Office/ Factory:

I-24, New Madhupura Market, Near Police Commissioner Office, Shahibaug Road,  Ahmedabad – 380004, Gujarat, India

Tel. No.:

91-79-30224162/ 63

Mobile No.:

91-9099060710 (Mr. Chetan Padhyar)

Fax No.:

91-79-30224163

E-Mail :

info@komalelectrotech.com

suresh@komaltexfab.com

Website :

http://www.komalelectrotech.com

Location:

Rented

Locality:

Commercial

 

 

Godown:

I-23, New Madhupura Market, Near Police Commissioner Office, Shahibaug Road,  Ahmedabad – 380004, Gujarat, India

Location:

Rented

 

 

DIRECTORS

 

AS ON 28.09.2014

 

Name :

Mr. Sureshkumar Pukhraj Bagrecha

Designation :

Director

Address :

1-A Sadbhav Society, Opposite Om Tower Ghoda Camp Road, Shahibag, Ahmedabad - 380004, Gujarat, India

Date of Birth/Age :

06.05.1960

Date of Appointment :

29.06.2015

DIN No.:

00987829

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

U17114GJ1990PTC014141

KOMAL TEXFAB PVT LTD

Managing director

07/08/1990

07/08/1990

Active

NO

2

U18101GJ2008PTC052545

KTF FASHION PRIVATE LIMITED

Director

04/01/2008

04/01/2008

Active

NO

3

U29100GJ2010PTC061353

KOMAL ELECTROTECH PRIVATE LIMITED

Director

29/06/2010

29/06/2010

Active

NO

 

 

Name :

Mr. Rajesh Sureshkumar Bagrecha

Designation :

Director

Address :

Komal 1, Sadbhav Society, Ghoda Kamp Road, Shahibaug, Ahmedabad - 380004, Gujarat, India

Date of Birth/Age :

08.01.1983

Date of Appointment :

29.06.2010

DIN No.:

00283757

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

U17114GJ1990PTC014141

KOMAL TEXFAB PVT LTD

Whole-time director

01/12/2002

01/12/2002

-

Active

NO

2

U67120GJ1995PTC025113

CREDO HOLDING PRIVATE LIMITED

Director

26/02/2007

26/02/2007

20/03/2008

Active

NO

3

U18101GJ2008PTC052545

KTF FASHION PRIVATE LIMITED

Director

04/01/2008

04/01/2008

-

Active

NO

4

U29100GJ2010PTC061353

KOMAL ELECTROTECH PRIVATE LIMITED

Director

29/06/2010

29/06/2010

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Chetan Padhyar

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 28.09.2014

 

Names of Shareholders

No. of Shares

 

Bagrecha Sureshkumar Pukhraj

4900

Bagrecha Rajesh Sureshkumar

5000

Bagrecha Pooja Rajeshkumar

100

Bagrecha Pukhraj Lalchand

100

Bagrecha Pukhraj Jointly With Sureshkumar Pukhraj

100

Bagrecha Vikram Pukhraj

100

Bagrecha Vikramkumar Jointly With Shama Vikramkumar

100

Bagrecha Sudhirkumar Pukhraj

100

Bagrecha Sudhirkumar Jointly With Rekha Sudhirkumar

100

Bagrecha Sayarben Sureshkumar

100

Bagrecha Shama Vikramkumar

100

Bagrecha Rekha Sudhirkumar

100

Bagrecha Santosh Sajjankumar

100

Bagrecha Sajjankumar

100

Komal Texfeb Private Limited

100

 

 

AS ON 28.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

0.89

Directors or relatives of directors

99.11

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into manufacturing, trading, importing and repairing of all kinds of Industrial Electronic, Electrical Instruments.

 

 

Products:

·         AC Drive

·         D.C. Drive

·         PLC

·         U. V. Laser Machines

·         Frequency Inventor, etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash, Advance Payment and Credit

 

 

Purchasing :

Cash, Advance Payment and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Sanghvi Electronics – Mumbai, Mahrashtra, India

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 :

Wholesalers, Retailers and Manufacturer

 

Reference:

Chiripal Industries Limited – Ahmedabad, Gujarat, India

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 :

30 (Approximately)

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

Subhash Chowk, Ahmedabad, Gujarat, India

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

 

·         Oriental Bank of Commerce, Neel Kamal Building, Opposite Sales India, Ashram Road, Ahmedabad - 380009, Gujarat, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

From Bank

(Secured against hypothecation of stocks and entire receivables a residential flat owned by relative of director and a commercial shop and residential flat owned by relative of director which are also charged in favour of two companies and further guaranteed by two of the directors and five relatives of the directors.)

6.333

8.838

 

 

 

Total

 

6.333

8.838

 

Banking Relations :

--

 

 

Auditors :

 

Name :

KPSJ and Associates

Chartered Accountants

Address :

504/C Shahjanand Shopping Centre, Shahibaug, Ahmedabad – 380004, Gujarat, India

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

AAGFK2924D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Group Companies

(As per indirect source) :
  • K.T.F. Fashion Private Limited
  • Komal Textile Private Limited 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000

Equity Shares

Rs. 10/- each

RS. 0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

11300

Equity Shares

Rs. 10/- each

Rs. 0.113 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

0.113

0.113

0.113

(b) Reserves & Surplus

1.111

0.992

0.372

(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)

1.224

1.105

0.485

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

8.939

10.833

15.117

(b) Deferred tax liabilities (Net)

0.018

0.024

0.027

(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)

8.957

10.857

15.144

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

6.333

8.838

5.289

(b) Trade payables

3.883

5.143

2.984

(c) Other current liabilities

0.325

0.696

0.384

(d) Short-term provisions

0.067

0.305

0.050

Total Current Liabilities (4)

10.608

14.982

8.707

 

 

 

 

TOTAL

20.789

26.944

24.336

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.338

0.382

0.501

(ii) Intangible Assets

0.047

0.055

0.064

(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

0.001

0.001

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.033

0.020

0.018

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

0.419

0.458

0.583

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

10.986

15.678

13.854

(c) Trade receivables

6.594

7.757

6.384

(d) Cash and cash equivalents

0.581

0.834

0.386

(e) Short-term loans and advances

0.606

0.499

1.964

(f) Other current assets

1.603

1.718

1.165

Total Current Assets

20.370

26.486

23.753

 

 

 

 

TOTAL

20.789

26.944

24.336

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

                         Revenue from Operations

34.314

45.926

35.342

 

                         Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

NA

NA

NA

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION                    

NA

0.147

0.154

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

NA

NA

NA

 

 

 

 

 

 

PROVISION TAX

NA

0.305

0.050

 

 

 

 

 

 

DEFERRED TAX ASSETS

NA

0.005

0.009

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

0.118

0.620

0.150

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Import Purchase

NA

26.451

24.920

 

 

 

 

 

 

Earnings Per Share (Rs.)

10.44

54.87

13.27

 

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

30.000

 

 

 

 

 

Expected Sales (2015-2016): Rs.50.000 Million

 

The above information has been parted by Mr. Chetan Padhyar (Account 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

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

12.48

17.80

42.07

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.92

1.77

2.73

 

 

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

0.113

0.113

0.113

Reserves & Surplus

0.372

0.992

1.111

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

0.485

1.105

1.224

 

 

 

 

Long-term borrowings

15.117

10.833

8.939

Short term borrowings

5.289

8.838

6.333

Total borrowings

20.406

19.671

15.272

Debt/Equity ratio

42.074

17.802

12.477

 

 

 

 

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)

Revenue from Operations

35.342

45.926

34.314

 

 

29.947

(25.284)

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations

35.342

45.926

34.314

Profit

0.150

0.620

0.118

 

0.42%

1.35%

0.34%

 

 

 

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

No

18

Major suppliers

Yes

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

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

10585260

17/07/2015

15,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST)
, MUMBAI - 400013, MAHARASHTRA, INDIA

C61334058

2

10308413

06/07/2013 *

20,000,000.00

ORIENTAL BANK OF COMMERCE

NEEL KAMAL BUILDING, OPP. SALES INDIA, ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA

B80333602

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From Directors

3.048

3.377

From Shareholders

5.890

7.456

 

 

 

Total

 

8.938

10.833

 

 

FIXED ASSETS:

 

Tangible Assets

 

·         Plant and Machinery

·         Furniture, Fixtures and Office Equipment’s

·         Computer

 

Intangible Assets

 

·         Trademark

 

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.66.58

UK Pound

1

Rs.102.29

Euro

1

Rs.74.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

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

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

 

28

 

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.