MIRA
INFORM REPORT
|
Report Date : |
29.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
STELLENCE PHARMSCIENCE LIMITED (w.e.f. 01.04.2010) |
|
|
|
|
Formerly Known
As : |
KARNATAKA CHEMSYN LIMITED |
|
|
|
|
Registered
Office : |
No.456, 1A and 1B, Industrial Area, Jigani, Bangalore-562106,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.01.1992 |
|
|
|
|
Com. Reg. No.: |
08-012673 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 72.008 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1992PLC012673 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK07078B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK9903A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Niche Pharmaceutical Products like Contrast Media
Agents. |
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 39000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appear
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
No.456, 1A and 1B, Industrial Area, Jigani, Bangalore-562106,
Karnataka, India |
|
Tel. No.: |
91-8110-413887 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 22.09.2010
|
Name : |
Dr. Francis Joseph Pinto |
|
Designation : |
Director |
|
Address : |
6, Clarence
Terrace, Regents Park, London – NWlRD, United Kingdom |
|
Date of Birth/Age : |
03.11.1942 |
|
Date of Appointment : |
23.08.2006 |
|
DIN No.: |
01844138 |
Other
Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U55101GA1995PTC001897 |
Mayfair
Eco Resorts Private Limited |
Director |
18-07-95 |
18-07-95 |
- |
Active |
|
|
2 |
U63040MH1999PTC120045 |
Santosh
India Opertions Private Limited |
Director |
26-05-99 |
26-05-99 |
20-04-11 |
Active |
NO |
|
3 |
U01122GA1998PTC003428 |
Valpoi
Valley Botanicals Private Limited |
Director |
08-01-01 |
08-01-01 |
- |
Active |
|
|
4 |
U24239MH2001PTC130422 |
Farmacross
India Private Limited |
Director |
17-04-01 |
17-04-01 |
16-04-09 |
Active |
NO |
|
5 |
U32107MH2001PTC132041 |
Infocross
India Private Limited |
Director |
03-10-01 |
03-10-01 |
- |
Active |
|
|
6 |
U72200GA2006PTC004325 |
Open
Destination Infotech Private Limited |
Director |
05-01-06 |
05-01-06 |
- |
Active |
NO |
|
7 |
U85110KA1992PLC012673 |
Stellence
Pharmscience Limited |
Director |
23-08-06 |
23-08-06 |
- |
Active |
NO |
|
8 |
U24231KA2005PTC035805 |
Avigna
Chemitech Private Limited |
Director |
23-08-06 |
23-08-06 |
- |
Active |
NO |
|
9 |
U72900MH2007PTC169715 |
ShawMan
Software Private Limited |
Director |
30-09-09 |
10-06-08 |
- |
Active |
|
|
10 |
U55101MH2008PLC185253 |
Bona
Sera Hotels Limited |
Director |
04-06-09 |
16-04-09 |
- |
Active |
NO |
|
11 |
U55101MH2009PLC190137 |
Sol
Hospitality Limited |
Director |
16-04-09 |
16-04-09 |
- |
Active |
NO |
|
12 |
U63040GA2009PTC006157 |
Destination
Insider Travels India Private Limited |
Director |
10-08-09 |
10-08-09 |
- |
Active |
NO |
|
13 |
U72200KA2009PTC048836 |
ChiHealth
Wellness Solutions (Bangalore) Private Limited |
Director |
25-09-10 |
25-09-10 |
08-09-11 |
Active |
NO |
|
Name : |
Mr. Ramachandran Radhakrishnan |
|
Designation : |
Director |
|
Address : |
Block B1, Flat Number
1202 L and T, South city, Arakere Micolayout, Bangalore – 560076, Karnataka,
India |
|
Date of Appointment : |
23.08.2006 |
|
DIN No.: |
00326368 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24231KA2005PTC035805 |
Avigna
Chemitech Private Limited |
Director |
11-03-05 |
11-03-05 |
- |
Active |
NO |
|
2 |
U67190KA2005PTC037009 |
East
West Capital Partners India Private Limited |
Director |
18-08-05 |
18-08-05 |
- |
Active |
NO |
|
3 |
U85110KA1992PLC012673 |
Stellence
Pharmscience Limited |
Director |
23-08-06 |
23-08-06 |
- |
Active |
NO |
|
4 |
U29299KA2007PTC042079 |
Xenocor
Pharmalab Private Limited |
Director |
13-03-07 |
13-03-07 |
10-05-10 |
Active |
NO |
|
5 |
U72200KA2009PTC048836 |
ChiHealth
Wellness Solutions (Bangalore) Private Limited |
Director |
25-09-10 |
25-09-10 |
08-09-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2010
|
Names of Shareholders |
No. of
Equity Shares |
No. of
Preference Shares |
|
Avigna Chemitech Private Limited, India |
365500 |
620000 |
|
Venugopalan Nair |
134500 |
-- |
|
Ramachandran Radhakrishnan |
40 |
-- |
|
Anuradha Ramachandran |
10 |
-- |
|
Aditi Ramachandran |
10 |
-- |
|
Ashwini Ramachandran |
10 |
-- |
|
K P Rema |
200000 |
-- |
|
Vidhyasagaran C P |
150000 |
-- |
|
Padikkaveetil Bhavdasan |
150700 |
-- |
|
Total |
1000770 |
620000 |
AS ON 27.09.2010
|
Names of Allotees |
No. of
Preference Shares |
|
Avigna Chemitech Private Limited, India |
750000 |
|
Total |
750000 |
AS ON 22.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Bodies Corporate |
37.00 |
|
Directors or relatives of Directors |
63.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Niche Pharmaceutical Products like Contrast Media
Agents. |
GENERAL INFORMATION
|
Bankers : |
·
State Bank of India, J P Nagar, I Phase, Main
Road, Banglore-560078, Karnataka,
India ·
IDBI Bank, Mumbai-400027, Maharashtra, India ·
Centurion Bank of Punjab Limited |
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P Chandrasekar Chartered Accountant |
|
Address : |
S-616, Manipal Centre, No.47, Dickenson Road, Bawngalore-560042,
Karnataka, India |
|
Tel. No.: |
91-80-25585443 |
|
Telfax No.: |
91-80-25597494 |
|
E-Mail : |
CAPITAL STRUCTURE
AFTER 22.09.2010
Authorised Capital : Rs. 150.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.
147.008 Millions
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1300000 |
Equity Shares |
Rs.10/- each |
Rs. 13.000 Millions |
|
620000 |
6% Convertible Preference Shares |
Rs. 100/- each |
Rs. 62.000 Millions |
|
|
Total |
|
Rs. 75.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000770 |
Equity Shares |
Rs.10/- each |
Rs. 10.008
Millions |
|
620000 |
Preference Shares |
Rs. 100/-
each |
Rs. 62.000
Millions |
|
|
Total |
|
Rs. 72.008 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 |
|
|
|
|
|
1] Share Capital |
72.008 |
10.008 |
10.008 |
|
|
2] Share Application Money |
1.292 |
3.292 |
1.292 |
|
|
3] Reserves & Surplus |
1.500 |
1.500 |
1.500 |
|
|
4] (Accumulated Losses) |
(64.849) |
(54.889) |
(34.818) |
|
|
NETWORTH |
9.951 |
(40.089) |
(22.018) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
165.497 |
64.231 |
0.751 |
|
|
2] Unsecured Loans |
194.459 |
230.858 |
214.883 |
|
|
TOTAL BORROWING |
359.956 |
295.089 |
215.634 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
369.907 |
255.000 |
193.616 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
163.971 |
168.380 |
26.870 |
|
|
CAPITAL WORK-IN-PROGRESS |
171.444 |
60.410 |
135.336 |
|
|
PRE-OPERATIVE PENDING CAPITALISATION |
14.329 |
14.329 |
23.065 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
28.905
|
9.945 |
4.985 |
|
|
Sundry Debtors |
30.319
|
7.844 |
0.532 |
|
|
Cash & Bank Balances |
3.003
|
2.070 |
2.353 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
16.359
|
13.447 |
10.417 |
|
Total
Current Assets |
78.586
|
33.306 |
18.287 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
54.720
|
18.643 |
9.053 |
|
|
Other Current Liabilities |
3.353
|
2.168 |
0.625 |
|
|
Provisions |
0.350
|
0.614 |
0.264 |
|
Total
Current Liabilities |
58.423
|
21.425 |
9.942 |
|
|
Net Current Assets |
20.163
|
11.881 |
8.345 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
369.907 |
255.000 |
193.616 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
71.211 |
21.238 |
2.100 |
|
|
|
Other Income |
0.654 |
0.587 |
1.605 |
|
|
|
TOTAL (A) |
71.865 |
21.825 |
3.705 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Cost |
35.543 |
16.420 |
2.756 |
|
|
|
Personnel Expenses |
17.198 |
6.785 |
1.876 |
|
|
|
Manufacturing, Administrative and Selling Expenses |
20.229 |
10.648 |
4.051 |
|
|
|
Increase / (Decrease) in Stock |
(4.425) |
(0.645) |
(2.183) |
|
|
|
TOTAL (B) |
68.545 |
33.208 |
6.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.320 |
(11.383) |
(2.795) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.721 |
0.980 |
0.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.599 |
(12.363) |
(2.815) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.559 |
7.357 |
2.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS)BEFORE TAX (E-F) (G) |
(9.960) |
(19.720) |
(5.137) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.350 |
0.264 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(9.960) |
(20.070) |
(5.401) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(54.888) |
(34.818) |
(29.417) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(64.848) |
(54.888) |
(34.818) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.95) |
(20.05) |
(5.40) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(13.86)
|
(91.96) |
(145.78) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(13.99)
|
(92.85) |
(244.62) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.11)
|
(9.78) |
(11.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.00)
|
0.49 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
42.04
|
(7.90) |
(9.34) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.55 |
1.84 |
LOCAL AGENCY FURTHER INFORMATION
FUTURE PLANS AND
ACTIVITIES
The company recorded
over 200% growth in turnover during 2009-10. It is slated to achieve a similar
growth during the year 2010-11. The company would continue to focus on the
niche area of non-ironic contrast media products. They have succeeded in
perfecting the technology for Iopamidol as per the revised impurity profile
prescribed by the US Pharmacopeia. Other non-ironic contrast media products in
the pipeline are: Ioversol and Iohexol. Another product that the company
succeeded in developing during the year is L-Selino Methonione. Most of the
output of this product is exported to the United States of America. They are
happy to report that M/s Piramal Healthcare Limited continues source their
requirement of Propyphenazone from them even after they are taken over by Abbot
Laboratories. The company proposes to explore new markets in South Africa and
Latin America during the current year.
CHANGE OF NAME OF
THE COMPANY:
During the year
the company has changed its name from KARNATAKA CHEMSYN LIMITED TO STELLENCE
PHARMSCIENCE LIMITED and the ROC has issued a fresh certificate of
Incorporation consequent change of name dated 01.04.2010.
FORM 8
|
Corporate
identity number of the company |
U85110KA1992PLC012673 |
|
Name of the
company |
KARNATAKA CHEMSYN
LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.456, 1A and 1B, Industrial Area, Jigani, Bangalore-562106, Karnataka, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable property
Others |
|
Particular of
charge holder |
State Bank of India, J P Nagar, I Phase, Main Road, Banglore-560078,
Karnataka, India |
|
Nature of
instrument creating charge |
1.Equitbale
Mortgage of Properties 2.Hypothecation Agreement
of Goods and Assets 3.Term Loan
Agreement |
|
Date of
instrument Creating the charge |
08.08.2008 |
|
Amount secured by
the charge |
Rs. 190.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 12.75 % Margin 25% Terms of repayment Repayable on
demand 2.000 millions monthly installments for term loan Margin 25% |
|
Short particulars
of the property charged (Including location of the property) |
Sy No.456/1b
Property No.502 Measuring 1 Acre @
Jigani Village Anekal Taluk Bangalore 456/1b Property
No.502 Measuring 13 Guntas 456/1b Property
No.503 Measuring 1 Acre 456/1b Property
No.503 Measuring 1 Acre 456/1a Property
No.503 Measuring 5 Guntas 456/Aa Property
No.503 Measuring 2 Acres Hypothecation of Goods and Assets, Present and Future
, Book Debts and Other Movable Assets
Documents to Title to Goods, Receivables, Outstanding Monies Etc |
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] 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. 48.82 |
|
|
1 |
Rs. 78.56 |
|
Euro |
1 |
Rs. 69.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.