MIRA
INFORM REPORT
|
Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
WOOLWORTHS WHOLESALE ( |
|
|
|
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Registered
Office : |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri
(East), Mumbai – 400093, |
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Country : |
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|
Financials (as
on) : |
27.06.2011 |
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|
Date of
Incorporation : |
15.02.2006 |
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Com. Reg. No.: |
11-159768 |
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|
Capital Investment
/ Paid-up Capital : |
Rs.65.488
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2006PTC159768 |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Trader of Conssumer Electronics, Domestic Appliances, Entertainment
Products, Machineries Equipment Accessories, Communication Equipments. |
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|
No. of Employees
: |
90 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1068936 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some 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.
INFORMATION PARTED BY
|
Name : |
Mr. Dilip |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-67332000 |
|
Date : |
03.04.2012 |
LOCATIONS
|
Registered Office : |
Unit 203, 2nd Floor, Akruti Center Point, MIDC, Andheri
(East), Mumbai – 400093, |
|
Tel. No.: |
91-22-67332000 |
|
Fax No.: |
91-22-67332055 |
|
E-Mail : |
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|
Website : |
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Location : |
Owned |
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|
|
|
Warehouse : |
Located at: · Bhiwandi |
DIRECTORS
AS ON 27.09.2011
|
Name : |
Mr. Hagai Yahuda Arad |
|
Designation : |
Managing Director |
|
Address : |
501, Emporis, Almedia Park, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1954 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
|
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|
|
|
Name : |
Mr. Ramnaik Narsey |
|
Designation : |
Chairman and Director |
|
Address : |
Flat No. 6, 6th Floor, Ashford Apartment, 1/26A Ridge Road, Malabar
Hill Mumbai 400 006, Maharashtra, India |
|
Date of Birth/Age : |
11.01.1958 |
|
Date of Appointment : |
13.04.2011 |
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|
|
|
Name : |
Mr. Thomas William Pockett |
|
Designation : |
Director |
|
Address : |
47, |
|
Date of Birth/Age : |
04.01.1958 |
|
Date of Appointment : |
17.03.2006 |
|
DIN No.: |
01922408 |
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|
|
|
Name : |
Mr. Debra Jane Singh |
|
Designation : |
Director |
|
Address : |
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|
Date of Birth/Age : |
20.07.1958 |
|
Date of Appointment : |
15.12.2006 |
|
DIN No.: |
01637264 |
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|
|
|
Name : |
Mr. Peter Michael Bolton |
|
Designation : |
Director |
|
Address : |
702, Vinapar Castle, Dr. Pereira, Road,
Bandstand, Bandra (West), Mumbai 400 050, Maharashtra, India |
|
Date of Birth/Age : |
05.09.1975 |
|
Date of Appointment : |
23.12.2008 |
|
Date of Cessation : |
12.01.2011 |
|
DIN No.: |
02484513 |
KEY EXECUTIVES
|
Name : |
Mr. Vikram Jain |
|
|
Designation : |
Company Secretary |
|
|
Address : |
3/ 9, Parijat CHS Limited, 1st Cross, Dindayal Road,
Vishnunagar, Dombivli (West), Thane – 421 202, |
|
|
Date of Birth/Age : |
30.09.1973 |
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|
Date of Appointment : |
08.01.2008 |
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PAN.: |
ACCPJ9384Q |
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|
|
|
|
|
Name : |
Mr. Ujjwal |
|
|
Designation : |
Accountant |
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|
Name : |
Mr. Dilip |
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|
Designation : |
Finance Manager |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Woolworths (International) Private Limited, New South Wales |
|
6548772 |
|
Woolworths Management Private Limited, |
|
1 |
|
Total |
|
6548773 |
Equity Share breakup (Percentage of total Equity)
AS ON 27.09.2011
|
Category |
Percentage |
|
|
|
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Consumer Electronics, Domestic Appliances, Entertainment
Products, Machineries Equipment Accessories, Communication Equipments. |
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|
|
|
Terms : |
|
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Selling : |
Cash and Credit (30 days, 60
days) |
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|
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Purchasing : |
Cash and Credit (30 days, 60
days) |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users |
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No. of Employees : |
90 (Approximately) |
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Bankers : |
Axis Bank, Andheri Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidhyapith, off Ashram
Road, Ahmedabad-380014, Gujarat, India |
|
Tel. No.: |
91-79-27582542/ 27582543 |
|
Fax No.: |
91-79-27582551 |
|
PAN.: |
AABFD7919A |
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Ultimate Holding
Company: |
Woolworths Limited |
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|
|
|
Holding Company
: |
Woolworths
International Pty Limited |
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|
|
|
Fellow
Subsidiaries : |
· Woolworths (H.K.) Sales Limited ·
Dick Smith Electronics Pty Limited |
CAPITAL STRUCTURE
AS ON 27.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6548773 |
Equity Shares |
Rs.10/- each |
Rs.65.488
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
27.06.2011 |
27.06.2010 |
28.06.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
65.488 |
65.488 |
65.488 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.006 |
|
|
3] Reserves & Surplus |
496.947 |
496.947 |
496.947 |
|
|
4] (Accumulated Losses) |
(295.201) |
(451.553) |
(498.343) |
|
|
NETWORTH |
267.234 |
110.882 |
64.098 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
600.00 |
450.000 |
390.000 |
|
|
TOTAL BORROWING |
600.000 |
450.000 |
390.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Finance Lease Obligations |
12.176 |
15.218 |
25.492 |
|
|
|
|
|
|
|
|
TOTAL |
879.410 |
576.100 |
479.590 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
77.987 |
84.487 |
93.510 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
936.587
|
658.604
|
441.050 |
|
|
Sundry Debtors |
14.692
|
188.874
|
161.667 |
|
|
Cash & Bank Balances |
45.289
|
70.446
|
68.813 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
371.884
|
239.376
|
148.256 |
|
Total
Current Assets |
1368.452
|
1157.300
|
819.786 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
548.722
|
649.608
|
410.777 |
|
|
Other Current Liabilities |
7.209
|
6.687
|
17.095 |
|
|
Provisions |
11.097
|
9.392
|
5.836 |
|
Total
Current Liabilities |
567.028
|
665.687
|
433.708 |
|
|
Net Current Assets |
801.423
|
491.613
|
386.078 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
879.410 |
576.100 |
479.590 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
27.06.2011 |
27.06.2010 |
28.06.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
6593.627 |
|
|
|
Other Income |
|
|
124.820 |
|
|
|
TOTAL (A) |
10894.372 |
10493.355 |
6718.447 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
6520.837 |
|
|
|
Employee Costs |
|
|
72.031 |
|
|
|
Operating and Administrative
Expenses |
|
|
203.797 |
|
|
|
TOTAL (B) |
|
10431.085 |
6796.665 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses) |
(Including Financial
Expenses) |
(78.218) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
41.909 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
168.879 |
62.270 |
(120.127) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.057 |
15.480 |
24.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
156.822 |
46.790 |
(144.798) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.470 |
0.000 |
(0.915) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
156.352 |
46.790 |
(143.883) |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
NA |
130.273 |
43.876 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
23.87 |
7.14 |
(31.52) |
|
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Expected Sales (2011-2012) : Rs.15000.000 Millions
The above information has been parted by Mr. Dilip (Finance Manager)
KEY RATIOS
|
PARTICULARS |
|
27.06.2011 |
27.06.2010 |
28.06.2009 |
|
PAT / Total Income |
(%) |
1.43 |
0.44 |
(2.14)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
(2.20)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.84 |
3.77 |
(15.85)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59 |
0.42 |
(2.26)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.36 |
10.20 |
13.25
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41 |
1.74 |
1.89
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
-- |
-- |
-- |
|
Creditors due others |
548.722
|
649.608
|
410.777 |
|
Check list by info Agents
|
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
--------- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last two years |
Yes |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
No |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
No |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
--------- |
|
Litigations that the firm/ Promoters Involved in |
--------- |
|
Banking details |
No |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
--------- |
|
Buyer visit details |
--------- |
|
Financials, if provided |
--------- |
|
Incorporation details is applicable |
--------- |
|
Last Accounts filed at ROC |
--------- |
|
Major Shareholders, if available |
--------- |
CHANGE OF
REGISTERED OFFICE:
Registered Office of the company has been shifted from 5th Floor,
Peninsula Chambers, Peninsula Corporate Park,
Ganpatrao Kadam Marg, Lower Parel,
Mumbai – 13, Maharashtra, India to
the present Address. W.e.f 14.08.2006
TRADE REFERENCES:
· LG
· Samsung
· Sony
FIXED ASSETS:
· Plant and Equipment
· Office Equipment
· Computer Hardware
· Furniture and Fixtures
· Plant – Motor Vehicles
· Software
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.50.56 |
|
|
1 |
Rs.81.04 |
|
Euro |
1 |
Rs.67.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
|
TOTAL |
|
29 |
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.