MIRA
INFORM REPORT
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Report Date : |
13.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREE NARAYANA METALLURGICAL INDUSTRIES |
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Registered Office : |
Shree Narayan Nivas, Post Office Road, Shoranur, Palakad – 679121,
Kerala |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1958 |
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Legal Form : |
A partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer of non stick cookware. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Anil Kumar Allam |
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Designation : |
Partner |
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Contact No.: |
91-9895508668 |
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Date : |
08.11.2008 |
LOCATIONS
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Registered Office : |
Shree Narayan Nivas, Post Office Road, Shoranur, Palakad – 679121,
Kerala, India |
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Tel. No.: |
91-466-2222416 |
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Mobile No.: |
91-9895508668/ 994603887 |
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E-Mail : |
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Website : |
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Area : |
2 Acre |
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Location : |
Owned |
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Factory : |
S.S. No.617, Opp. Rathiram College, Pollachi Main Road, Coimbatore –
641 021, India |
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Area : |
5000 sq ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Anil Kumar Allam |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
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Qualification : |
M.Tech |
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Name : |
Dr. D.M Moothadeath |
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Designation : |
Partner |
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Date of Birth/Age : |
65 Years |
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Qualification : |
MBBS |
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Name : |
Mrs. Sunita Mohan |
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Designation : |
Partner |
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Date of Birth/Age : |
60 Years |
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Qualification : |
MA |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of non stick cookware. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
Distributor only |
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No. of Employees : |
42 |
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Bankers : |
State Bank of India, Kochi |
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Facilities : |
Cash and Credit (Rs.7.000 Millions) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Suri and Company Chartered Accountants |
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Address : |
Kochi |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.2.500 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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30.000 |
Expected Sales (2008-09) : Rs.40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33061804016 |
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PAN / TAN : AFNPP219C |
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Bank Name : SBI Bank |
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Bank Address : Kochi |
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Bank A/c. No.: 30340327980 |
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Account Since :5 Years |
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In case of any affiliations / memberships / certifications : |
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Type : Applied for ISO |
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Trade Reference
- M. B
Marketing Private Limited, Kochi
- Verkey Retail
India Private Limited, Kochi
Profile
Subject is a renowned name which is engaged in manufacturing and supplying a wide
range of quality non-stick cookware that are constructed using cast iron. Their
top class range includes stag frying pan, stag dosatawa, stag karol scoops and
others.
Capitalizing on their cutting edge technology they are able to customize their
wide assortment of non-stick cookware as per the requirement of their clients.
They, further, check the whole range of finished products to ensure these are
at par with industrial standard in terms of quality.
Designed to perfection, their range has received an overwhelming response from
clients based in India and abroad. Further, maintaining consistency in their
quality standards, meeting consignment deadlines and following ethical business
practices have helped them to etch a reputable position in the highly
competitive industry.
Achievements
Sales
Turnover in the last financial year (in Rs) Rs.35.000 Millions
Exports
Done in Last Financial Year (in Rs) Rs.1.000 Millions
Mentors
It is due to the able guidance and inspiration of their mentors throughout the
years they are able to keep pace with the fast-changing trends of market along
with latest technological advancements and have carved a niche for theirselves
in this industry.
Below mentioned are the names of their mentors and their vast experience:
Shri. M P Moothadath (1903 - 1972)
He began his journey as a railway contractor and further went on to create the
trusted STAG brand of agricultural implements in 1958.Gradually he expanded his
business to cast iron kitchenware. He is a great follower of Shree Narayana
Guru and follows his principle in his life, thus dedicating his life for the
uplift of the downtrodden.
Dr. P Mohan Moothadath
He is the founder of their company Subject and also a skilled Heart Surgeons in
India. Being a Managing Partner, he formulated company’s vision statement which
focuses on their commitment to secure a long- term partnership with each
customer by providing Kitchenware products of highest quality at affordable
prices and also by continuously focusing on improving Quality of all aspects of
the organization.
He endeavors to follow one of the strongest Geetha’s quotes:
“The actions of a great man are an inspiration for others. Whatever he does becomes
a Standard for others to follow.”
Anilkumar Allam
He is the co-founder of Subject and is principally a Research Metallurgist.
Being an Executive Partner, he is responsible for company’s vision, Strategic
Direction and Operational Management and is also instrumental in bringing up
India’s first nonstick Coating- TUFRID for STAG Cast-iron Kitchenware in their
company. Further, possessing expertise in Material selection, Heat treatment
and Surface treatment Technologies, Cryogenic Technology, he offered
Metallurgical consultancy services to Automobile, Textile and various Ferrous
and Non Ferrous Forgings and various Heat treatment Plants.
He spent his early years at TVS and later in Elgi Equipments Limited based at
Coimbatore, which provided him both depth and breath of experience in Research,
manufacturing and Sales. He was instrumental in setting up and running a state
of the art Heat Treatment plant at Elgi –which happens to be the most modern
heat treatment plant in Coimbatore
Vision
Vision 2013
“SNMI aims to be a global player for its
Cookware Products business by getting sizeable share of the world market by 2013”.
With Vision 2013 they strive to earn customer trust by offering quality
range of their Cookware through their
responsiveness
and accountability to customers and partners.
Further, Vision 2013 keeps them focused on expanding their potential customer
base around the world.
Product Portfolio
They are engaged in manufacturing a wide range of non-stick cookware that is
constructed from top notch quality raw material. Widely used in various kitchen
appliances, these are in high demand by their clients spread in India and
across the globe. Their range comprises of stag frying pan, stag dosatawa, stag
karol scoops, stag appam pan, stag kadai and stag kadai.
Following are some of its salient features:
- Usable in induction cooker
- Durable
- Safe to use
- High temperature resisting coating
- Fuel Efficiency
- Metal Sppon Friendly
- Long lasting
- Resistance to scratches
Further, their entire range can be easily packed in an efficient manner before
they are finally delivered to their clients spread in India and around the
world.
Manufacturing unit
They possess a state-of-the-art manufacturing unit which has an installing
capacity of 50000 manufacturing units spread in an area of 5000 square feet.
They make sure in implementing the latest machines and techniques to design and
develop their range of high quality non-stick cookware in cast iron segments at
par with the specific requirements of their clients that facilitates easier and
faster production.
Following are the machines that are installed in their production unit:
- Gritblasting machine
- Coating plant
- Backing/sintering
machine
In addition, they also maintain a modern in house design unit that is well
equipped with all the necessary designing tools and with CAD/CAM facilities
that help them in creating products as per the specific requirements of their
clients.
Team
Their team is the backbone of their organization who cohesively not only
strives to cater to their client’s needs, but also comprehends their likings
and preferences. The efficiency and dexterity with which their team works,
depicts their capacity of supply and export in an estimated time frame. They
have employed dedicated and enthusiastic personnel in their team who
commits to quality every day and hour, around 365 days and 24 X7.
It is the monotonous hard labor of their entire team including the members who
continuously helped forge a way ahead bringing in a lot of name fame to their
company since its inception.
Team comprises of:
- Inventory managers,
- Warehouse managers
- Packaging professionals
- Sales and marketing
representatives
- Logistics and transport
personnel
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 records 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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50 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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