MIRA
INFORM REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
GUPTA COAL INDIA LIMITED |
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Formerly Known As : |
GUPTA COAL SERVICES PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
05.05.1989 |
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Com. Reg. No.: |
11-51640 |
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Capital
Investment / Paid-up Capital : |
Rs.69.246 millions |
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CIN No.: [Company Identification
No.] |
U51909MH1989PLC051640 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
NGPG00507D |
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PAN No.: [Permanent Account No.] |
AAACG4587B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Supplier of Coal. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
A (64) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
USD 6400000 |
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Status : |
Excellent |
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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 company having fine track
records. Financial position of the company appears to be goods. Fundamentals
are strong and healthy. Business is active. Payments are reported to be regular. The company can be considered good for normal business dealings at
usual 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered/ Admin. Office : |
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Tel. No.: |
91-712-6603300 / 6613651 /
6613702 |
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Fax No.: |
91-712-6613702 / 6647144 |
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E-Mail : |
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Website : |
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Corporate Office : |
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Tel No.: |
91-712-6647141 / 42 / 43 |
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Fax N.: |
91-712-6647144 |
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E-Mail : |
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Branch Office : |
Located At: · Chandrapur ·
·
· Chennai ·
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Washeries : |
Located at: ·
Majri ·
Wani ·
Ghuggus ·
Sasti ·
Pimpalgaon ·
Gondegaon ·
Ramagundam · IB Valley |
DIRECTORS
(AS ON 25.09.2010)
|
Name : |
Mr. Padmesh Deodutta Gupta |
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Designation : |
Director |
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Address : |
Hari-Nikunj, House No. 190, |
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Date of Birth/Age : |
29.02.1964 |
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Date of Appointment : |
05.05.1989 |
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DIN No. : |
00263859 |
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Name : |
Mr. Piyush Marodia |
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Designation : |
Director |
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Address : |
Hari-Nikunj, House No. 190, |
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Date of Birth/Age : |
18.08.1984 |
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Date of Appointment : |
17.05.2007 |
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DIN No. : |
01730162 |
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Name : |
Mr. Anurag Gupta |
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Designation : |
Additional Director |
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Address : |
Hari-Nikunj, House No. 190, |
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Date of Birth/Age : |
10.10.1989 |
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Date of Appointment : |
23.01.2010 |
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Name : |
Mr. Ramakant Tekriwal |
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Designation : |
Director |
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Address : |
30 Byramji Town, Nelson Suqre, |
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Date of Birth/Age : |
01.04.1974 |
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Date of Appointment : |
20.05.2010 |
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Name : |
Mr. Manish Kumar Marodia |
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Designation : |
Director |
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Address : |
P – 56, C.I.T. Road, Scheme IV, Bellaghata Opposite I.D. Hospital,
Emergency Gate, Kolkata – 700010, West Bengal, India |
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Date of Birth/Age : |
23.04.1982 |
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Date of Appointment : |
25.08.2008 |
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Date of Ceasing : |
27.03.2010 |
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DIN No. : |
01875360 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Boyar |
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Designation : |
System Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 25.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Deodutta Gupta |
|
10365 |
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Mukesh Gupta |
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5375 |
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Padmesh Deodutta Gupta |
|
69267 |
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Shyamadevi Gupta |
|
5200 |
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Mahesh Gupta |
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11930 |
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Anuradha Padmesh Gupta |
|
53800 |
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Vinita Gupta |
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2145 |
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Seema Gupta |
|
4250 |
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Anurag Gupta |
|
630 |
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Aditya Gupta |
|
640 |
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Kaustubh Gupta |
|
580 |
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Priya Gupta |
|
50 |
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Vatsal Gupta |
|
580 |
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Vishnupriya Gupta |
|
50 |
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Kunjan Gupta |
|
290 |
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Padmesh Gupta (HUF) |
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16300 |
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Radhika Gupta |
|
280 |
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Srivats Gupta |
|
410 |
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Mahadeoprasad Gupta (HUF) |
|
2000 |
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Gupta Leasing and Finance Limited |
|
89750 |
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Indo – Krishna Green Field Limited |
|
13950 |
|
Tasmseen Commercial Private Limited |
|
34400 |
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Manasi Commodities Private Limited |
|
41000 |
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Gupta Corporation Limited |
|
310715 |
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Saphire Steel Private Limited |
|
3500 |
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Gupta Natural Resource Ventures Private Limited |
|
15000 |
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Total |
|
692457 |
(AS ON 25.09.2010)
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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|
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Bodies
corporate |
|
73.41 |
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Directors
or relatives of directors |
|
26.59 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Supplier of Coal. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
UCO Bank Sitabuldi Branch, ·
State Bank of Industrial Finance Branch, 5 Sai Complex, |
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Facilities : |
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Banking
Relations : |
Fair |
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Financial Institutions : |
Sundaram Finance
Limited 21, |
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Auditors : |
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Name : |
Banthia Damani and Associates Chartered Accountants |
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Address : |
SO-8, |
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Associates : |
·
Gupta Coalfields and Washeries Limited ·
Gupta Leasing and Finance Limited ·
Gupta Infraproject Developers Private Limited ·
Maruti Clean Coal and Power Limited ·
A P Coal Washeries Private Limited ·
Gupta Energy Private Limited ·
P D Gupta Enterprises ·
Gupta Industries Private Limited ·
Maharashtra Vidyut Nigam Limited ·
Gupta Infratech Private Limited ·
Osho Sa Coal Pte. Limited ·
P T Gupta Coal International ·
CISC Gupta Mines and Minerals Private Limited ·
Gupta Logistics Private Limited ·
Gupta Corporation Limited ·
Nagpur Sical Gupta Logistics Limited ·
Nagpur Sical Gupta Road Terminal Limited ·
Tata Projects Limited ·
China Ship building and Trading Company Limited, ·
·
Sokeo Power Consultants Private Limited, (An
Indian arm of Soleo Resources ·
MN Dastur and Company Private Limited ·
HIQ Power Associates Private Limited |
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Subsidiaries : |
·
Gupta Infrastructur ( CIN No.: U45200MH2005PTC157219 ·
Gupta Natural Resource Ventures Private Limited CIN No.: U14290MH2008PTC177392 ·
Gupta Global Natural Resource Pte. Limited |
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Holding Company : |
Gupta Natural Resource Ventures Private Limited CIN No.: U14290MH2008PTC177392 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
692457 |
Equity Shares |
Rs.100/- each |
Rs.69.246
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
69.246 |
44.246 |
44.246 |
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2] Share Application Money |
220.040 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1318.025 |
830.055 |
546.670 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1607.311 |
874.301 |
590.916 |
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LOAN FUNDS |
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1] Secured Loans |
774.340 |
377.040 |
569.164 |
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2] Unsecured Loans |
120.230 |
43.980 |
10.769 |
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TOTAL BORROWING |
894.570 |
421.020 |
579.933 |
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DEFERRED TAX LIABILITIES |
31.133 |
36.247 |
36.786 |
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TOTAL |
2533.014 |
1331.568 |
1207.635 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
189.996 |
196.146 |
211.563 |
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Capital work-in-progress |
252.609 |
137.171 |
0.163 |
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INVESTMENT |
152.384 |
30.790 |
136.875 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1628.367
|
564.752
|
168.047 |
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Sundry Debtors |
1272.251
|
633.096
|
667.748 |
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Cash & Bank Balances |
485.646
|
158.634
|
97.688 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
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Loans & Advances |
1822.320
|
934.126
|
271.245 |
|
Total
Current Assets |
5208.584
|
2290.608 |
1204.728 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2344.793 |
1035.930 |
127.782 |
|
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Other Current Liabilities |
767.016
|
78.903
|
102.697 |
|
|
Provisions |
167.883
|
208.887
|
116.360 |
|
Total
Current Liabilities |
3279.692
|
1323.720
|
346.839 |
|
|
Net Current Assets |
1928.892
|
966.888
|
857.889 |
|
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|
MISCELLANEOUS EXPENSES |
9.133 |
0.573 |
1.145 |
|
|
|
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TOTAL |
2533.014 |
1331.568 |
1207.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
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Income |
9933.836 |
6168.645 |
3737.891 |
|
|
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Other Income |
13.229 |
25.679 |
16.473 |
|
|
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TOTAL (A) |
9947.065 |
6194.324 |
3754.364 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
8005.794 |
4575.482 |
2624.054 |
|
|
|
Operating Expenses |
1230.747 |
862.652 |
662.112 |
|
|
|
Personnel |
19.922 |
12.062 |
7.768 |
|
|
|
Administrative & Other Expenses |
125.309 |
182.950 |
52.093 |
|
|
|
Prior Period Adjustment (Net) |
(0.079) |
(27.716) |
(2.285) |
|
|
|
TOTAL (B) |
9381.693 |
5605.430 |
3343.742 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
565.372 |
588.894 |
410.622 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
134.378 |
107.538 |
92.467 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
430.994 |
481.356 |
318.155 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.958 |
16.340 |
16.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
418.036 |
465.016 |
302.140 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
149.887 |
172.610 |
104.793 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
268.149 |
292.406 |
197.347 |
|
|
|
|
|
|
|
|
|
Less |
Income Tax
(Earlier Year) |
5.180 |
9.021 |
11.322 |
|
|
|
|
|
|
|
|
|
|
Transfer to
General reserve |
262.969 |
283.385 |
186.025 |
|
|
|
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|
|
|
|
|
IMPORTS |
5291.431 |
1460.310 |
Nil |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
387.24 |
660.87 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.70 |
4.72
|
5.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.21 |
7.54
|
8.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.74 |
18.70
|
21.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.53
|
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.60 |
2.00
|
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.73
|
3.47 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS:
The Company during
the year continued to procure coal from domestic markets as well as from e-auctions
conducted by Coal lndia Limited. The company also imported coal for sale to
core and non - core industries. Besides this, the company has beer providing
coal handling, transportation and liasoning services to various end consumers
involving movement of coal from mines to the consumers, managing the logistics
enroute and quality verification and has been ensuring that the required
quality and quantity of coal is delivered to the consumers on time.
The Company's
income from operations during the year increased by 61% to Rs.9933.900 millions
as against Rs.6168.700 millions in the corresponding previous financial year.
The total expenditure during the year was Rs.9529.100 millions as against
Rs.5757.000 millions in the corresponding period of previous year. The increase
in expenditure is attributed to import of coal on a large scale, operating
expenses and financial charges. The Company's net profit after tax during the
year after providing for income tax of earlier year stood at Rs.263.000 millions as
against Rs.283.400 millions
achieved in the previous year resulting in a marginal decline in the profits
due to the recessionary trend prevailing in the market.
The year of
2009-10 was a good beginning for imported coal business. During the financial
year the company purchased around 2 million tons (valued at Rs.4500 millions)
non coking steam coal from
The Company is
also participating in various tenders like MAHAGENCO, KPCL, Damodar Valley
Corporation, Bharat Oman Refineries Limited (BORL) etc. and has been awarded
tender of KPCL (Karnataka Power Corporation Limited) and BORL (Bharat Oman
Refineries Limited) for supply of imported coal quantity of 9 Lakh mts and 2
Lakh mts respectively. The Company is in the final stage of acquiring coal
mines with huge reserves of non coking coal in
The Directors
trust that the shareholders will find the performance of the company, for the
financial year 2010, to their satisfaction. The Company will continue to focus
on efficiency enhancement to further improve upon the earnings.
FUTURE PLANS
The company has
initiated a plan to set
up coal yards in various parts of the country from where the required quality
and quantity of coal will be supplied to the customers. Adequate
quantity of coal will be stocked in the coal yards through a fleet of trucks
and the railway network. The company currentIy has stock yards at
CONTINGENT LIABILITIES
·
Corporate
guarantee given on behalf of Gupla Coalfields and Washeries Limited, a sister concern to State Bank of. India, Axis Bank, IDFC Bank
Limited, Export Impart Bank of
lndia and L and T lnfrastnrdure Fipance Company Limited, towards Cash Credit, Term Loan and Bank Guarantee amounting Rs.3617.700
millions.
·
Corporate guarantee given
on behalf of Gupta Infrastructure Private
Limiteda Subsidiary company, to Bank
of Baroda and Union Bank Of India, towards Bank Guarantee and Term Loan amounting la Rs.1057.000 millions.
·
Corporate
guarantee given on behalf of Earth Minerals Limited,
an associate concern, to Bank of India, towards Cash Credit, Term loan and Bank Guarantee amounting to Rs.367.100 millions.
·
Estimated amount of contracts
remaining to be executed on capital account
and not provided for Rs.930
millions.
·
Letter of credit and Bank
Guarantee outstanding: 1723.400 millions.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U51909MH1989PLC051640 |
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Name of the company |
GUPTA COAL INDIA LIMITED |
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Address of the registered office or of the principal place of business in |
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This form is for |
Modification of charge |
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Type of charge |
Immovable property |
|||||||||||||||
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Particular of charge holder |
State Bank of Industrial
Finance Branch, 5 Sai Complex, |
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Nature of description of the instrument creating or modifying the
charge |
Memorandum for recording extension of mortgage by deposit of title
deeds covering enhanced limits and/ or creation of equitable mortgage on additional
properties for existing limits and enhanced limits and additional facilities. |
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|
Date of instrument Creating the charge |
07.05.2011 |
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Amount secured by the charge |
Rs.2470.000 millions |
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|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest Not Applicable : As The Properties of The company is given as a
security to the credit facilities given to the Gupta Coalfields and Washeries
Limited Terms of repayment Not Applicable : As The Properties of The company is given as a
security to the credit facilities given to the Gupta Coalfields and Washeries
Limited Margin Not Applicable : As The Properties of The company is given as a
security to the credit facilities given to the Gupta Coalfields and Washeries
Limited Extent and operation of the charge First pari- passu charge on the properties for State Bank of |
|||||||||||||||
|
Short particulars of the property charged |
All that piece and parcel of land bearing Khasra No.101/3 of Mouza Sitabuldi, adm
5466.20 sq. meters together with the entire r.c.c. superstructure comprising
office block no 602 full And part of office block no. 601 and 603. covering total built up area
of 791.88 sq. meters. |
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|
Particulars of the present modification |
Due to Rs.350.000 millions fresh line of credit sanctioned by Axis
Bank, the charge amount was enhanced to Rs.2470.000 millions (Rs. in millions)
Total Amount Secured Rs.2470.000 millions |
FIXED ASSETS
·
·
Shed and Building
·
Ownership Premises
·
Plant and Machinery
·
Computers
·
Furniture and Electrical Fittings
·
Air Conditioner
·
Office Equipments
·
Vehicles
·
Lorries (Tippers)
·
Wind Mill
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 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] 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.44.72 |
|
|
1 |
Rs.71.96 |
|
Euro |
1 |
Rs.64.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.