|
Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SWASTIK PLYBOARD LIMITED |
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Registered
Office : |
D-8, Kabir Marg, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.09.1996 |
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Com. Reg. No.: |
17-012533 |
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Capital Investment
/ Paid-up Capital : |
Rs.15.000 Millions |
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CIN No.: [Company Identification
No.] |
U20211RJ1996PLC012533 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JPRS03553E |
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PAN No.: [Permanent Account No.] |
AACCS5778G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Ply Board and Plywood. |
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No. of Employees
: |
200 (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 |
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Maximum Credit Limit : |
USD 79000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Anshul Jain |
|
Designation : |
Director |
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Contact No.: |
91-9929605552 |
|
Date : |
11.04.2012 |
LOCATIONS
|
Registered Office/ Local Sales
: |
D-8, Kabir Marg, |
|
Tel. No.: |
91-141-2200791, 2202493 |
|
Mobile No.: |
91-9928951551 (Mr. Deepak Jain) 91-9929605552 (Mr. Anshul Jain) |
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Fax No.: |
91-141-2205542 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory/ Sales Outside
: |
SP-106, Riico Industrial Area, Bassi, |
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Tel. No.: |
91-1429-222505, 222691 |
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Fax No.: |
91-1429-222505 |
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For Sales in Southern Region : |
49, 1st Floor, |
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Tel. No.: |
91-44-25394569 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vinod Kumar Jain |
|
Designation : |
Director |
|
Address : |
11, Ugam Path, |
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Date of Birth/Age : |
10.04.1967 |
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Date of Appointment : |
13.06.1997 |
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DIN No.: |
00596567
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Name : |
Mr. Manoj Kumar Jain |
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Designation : |
Director |
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Address : |
11, Ugam Path, |
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Date of Birth/Age : |
16.09.1971 |
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Date of Appointment : |
02.09.1996 |
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DIN No.: |
00596570
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Name : |
Mr. Mal Chand Jain |
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Designation : |
Director |
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Address : |
11, Ugam Path, |
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Date of Birth/Age : |
28.01.1953 |
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Date of Appointment : |
13.06.1997 |
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DIN No.: |
00612906 |
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Name : |
Mr. Deepak Jain |
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Designation : |
Director |
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Date of Birth/Age : |
31 Years |
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Qualification : |
MBA |
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Experience : |
11 Years |
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|
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Name : |
Mr. Anshul Jain |
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Designation : |
Director |
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Date of Birth/Age : |
26 Years |
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Qualification : |
MBA |
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Experience : |
11 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Manoj Kumar Jain |
|
92520 |
|
Vinod Kumar Jain |
|
107500 |
|
Ashok Kumar Jain |
|
120000 |
|
Mal Chand Jain |
|
260000 |
|
Mohani Devi Jain |
|
55000 |
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|
|
205000 |
|
Kanchan Devi Jain |
|
300000 |
|
Vinod Kumar Jain (HUF) |
|
140000 |
|
Manoj Kumar Jain (HUF) |
|
160000 |
|
Deepak Jain |
|
20000 |
|
Barkha Jain |
|
20000 |
|
Anita Jain |
|
20000 |
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TOTAL |
|
1500020 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ply Board and Plywood. |
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Products : |
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Brand Names : |
“SWATI” |
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Exports : |
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Products : |
Play Board and Plywood |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION STATUS
As on 31.03.2011
Installed Capacity
(Sq. Mtrs.)
Block Board and
Ply Board – 1092000
|
Particulars |
Unit |
Actual
Production |
|
Block Board |
Sq. Mtrs. |
10897 |
|
Ply Wood |
Sq. Mtrs. |
178660 |
|
Seasoned Wood Frames (cft) |
Sq. Mtrs. |
6436 |
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Flush Doors |
Sq. Mtrs. |
2326 |
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GENERAL INFORMATION
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Customers: |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kalani and Associates Chartered Accountants |
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Address : |
O-12, Ashok Marg, Above Canara Bank, Jaipur – 302 001, |
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PAN.: |
AAEFK3803H |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs.17.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1500020 |
Equity Shares |
Rs.10/- each |
Rs.15.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
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|
1] Share Capital |
15.000 |
15.000 |
15.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.765 |
4.571 |
4.267 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.765 |
19.571 |
19.267 |
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|
LOAN FUNDS |
|
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1] Secured Loans |
16.172 |
11.462 |
10.401 |
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2] Unsecured Loans |
0.217 |
0.581 |
1.197 |
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TOTAL BORROWING |
16.389 |
12.043 |
11.598 |
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DEFERRED TAX LIABILITIES |
0.476 |
0.599 |
0.599 |
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|
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|
|
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TOTAL |
36.630 |
32.213 |
31.464 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.326 |
16.051 |
11.541 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
0.010 |
0.000 |
0.000 |
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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 |
11.456
|
7.120
|
9.008 |
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Sundry Debtors |
16.304
|
14.417
|
14.693 |
|
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Cash & Bank Balances |
1.545
|
0.838
|
0.238 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
2.064
|
3.756
|
2.662 |
|
Total
Current Assets |
31.369
|
26.131 |
26.601 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
9.001
|
8.140
|
5.812 |
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Other Current Liabilities |
0.899
|
1.815
|
0.797 |
|
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Provisions |
0.179
|
0.021
|
0.079 |
|
Total
Current Liabilities |
10.079
|
9.976 |
6.688 |
|
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Net Current Assets |
21.290
|
16.155
|
19.913 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.004 |
0.007 |
0.010 |
|
|
|
|
|
|
|
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TOTAL |
36.630 |
32.213 |
31.464 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
39.263 |
39.229 |
38.924 |
|
|
|
Other Income |
2.147 |
0.022 |
0.000 |
|
|
|
TOTAL (A) |
41.410 |
39.251 |
38.924 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Variation in Stocks |
1.874 |
(0.352) |
(1.561) |
|
|
|
Raw Material and Store Consumed |
17.331 |
28.607 |
30.437 |
|
|
|
Purchase of Goods – Timbers |
6.542 |
0.000 |
0.000 |
|
|
|
Manufacturing Expenses |
4.151 |
3.415 |
3.475 |
|
|
|
Administrative Expenses |
3.794 |
4.384 |
3.815 |
|
|
|
Preliminary Expenses w/off |
0.003 |
0.004 |
0.004 |
|
|
|
TOTAL (B) |
33.695 |
36.058 |
36.170 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.715 |
3.193 |
2.754 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.145 |
1.562 |
1.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.570 |
1.631 |
1.451 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.987 |
1.181 |
1.191 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.583 |
0.450 |
0.260 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.389 |
0.145 |
0.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.194 |
0.305 |
0.128 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.571 |
4.266 |
4.138 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4.765 |
4.571 |
4.266 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.13 |
0.20 |
0.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.47
|
0.78
|
0.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.13
|
1.15
|
0.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.67
|
1.07
|
0.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.02
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.34
|
1.13
|
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11
|
2.62
|
3.98 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U20211RJ1996PLC012533 |
|
Name of the
company |
SWASTIK PLYBOARD
LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-8, Kabir Marg, E-Mail: fcsmanish.mca@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90070117 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Immovable
Property |
|
Particular of
charge holder |
Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
Composite Agreement of Hypothecation of Goods, Book Debts, Moveable Machinery
and Vehicles. LDOC 17(C) 2. Letter of Continuing
Security LDOC 7 3. Supplemental
Memorandum of Entry LDOC 90 (G) 4. Board
Resolution. |
|
Date of
instrument Creating the charge |
11.12.2010 |
|
Amount secured by
the charge |
Rs.40.378
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest On CC Interest @
3.50% above base rate i.e. 12.00% p.a., On TL of Rs.0.378
millions (Exis.) Interest @ 4.00 % above base rate i.e. 12.50% p.a., at
present, subject to change from time to time. Terms of
Repayment CC - Repayable on
Demand TL of Rs.0.378
millions (Exis.) - 60 Monthly
Installments, 59 Installments of Rs. 0.018 million and last installment of
Rs. 0.018 million. Interest is to be serviced separately on monthly basis. Margin On TL of Rs.0.378
millions (Exis.) - 25 % On CC-25 % Extent and
Operation of the charge The charge will
operate as a first charge to the extent of Rs.40.378 millions to secure
followings limits granted to the company by the bank details as under. Cash Credit Limit
Rs.20.000 millions Term Loan-I
(Exis.) Rs.0.378 millions Import L/C Rs.20.000 millions (DA upto 120
days)
----------------------- Total Rs.40.378 millions |
|
Short particulars
of the property charged |
I)
First
charge by way of hypo. of all stock of RM,WIP,SF and FG, lying in factory, godowns, elsewhere
and including goods in transit, consumable goods, stores, spares, all present
and future book debts II)
all
other present and future current
and fixed assets of the company as a
security to cover Cash Credit (Hypo. of stock and Book debts) limit of
Rs.20.000 millions III)
Foreign
(Import) L/C (DA upto 120 days) of Rs.20.000 millions and Existing Term Loan
of Rs.0.378 millions totaling of Rs.40.378 millions granted to the company by
the bank. IV)
Equitable
Mortgage is extended on immovable property of the company comprising factory
land and building constructed or to be constructed, Fixed plant and machinery, V)
erected
or to be erected both present and future situated at SP-106,RIICO Industrial
Area, Agra Road Bassi, Jaipur to
secure Cash Credit (Hypo. of stock and Book debts) limit of Rs.20.000
millions VI)
Foreign
(Import) L/C (DA upto 120 days) of Rs.20.000 millions and Existing Term Loan
of Rs.0.378 millions totaling of Rs.40.378 millions granted to the company by
the bank. VII)
The
above security also cover Term Loan-II of Rs.2.805 millions (Exis.) and Term
Loan - III of Rs.1.039 millions (Exis.) |
|
Particulars of
the present modification |
By this
modification limits has been enhanced to Rs.403.78 millions and EM is also
extended on immovable property of the company situated at SP-106, RIICO
Industrial Area, Agra Road Bassi,
Jaipur .Limits as follow. Cash Credit Limit
Rs.20.000 millions Term Loan-I
(Exis.) Rs.0.378 millions Import L/C Rs.20.000 millions (DA upto 120
days)
----------------------- Total Rs.40.378 millions Other terms and
condition remain unchanged. |
FIXED ASSETS
·
·
·
Plant and Machinery
·
D.G. Set
·
Electric Installation
·
Car
·
Furniture and Fixtures
·
Computer
·
Vehicles
·
Office Equipments
WEBSITE DETAILS
PROFILE:
Subject, an ISO 9001: 2000 Company, was set up in 1996 by Mr. M.C. Ranwaka along with highly successful Professionals of Plywood Industry. Mr. Ranwaka has been associated with Wood Industry for over 30 years and is well experienced in the field. Within a short span of time, Subject has become one of the fastest growing industrial houses of the country. It has grabbed numerous awards for quality excellence in the market and its brands have been well established through out the country. It manufactures an extensive range of plywood products. Anything required by the customer can be provided from the inexhaustible inventories maintained by the company or it can manufacture any product as per customers need.
Besides, providing superior quality plywood, they at Subject take special care to protect the environment. Unlike other plywood manufacturers, we've taken initiative to supplement the dwindling forest cover by making rational use of timber, i.e. we've developed system and process, to extract the Optimum yield from a single timber log, reducing wastage of the valuable natural resources. They have also implemented major afforestaion measures to supplement the loss.
AWARDS
· Udyoq Ratan award (gold medal) from Mr. Ashok Pradhan (labor Minister) and Mr. Bachhi Singh Rawat (Science and Technology Minister) Government of India.
·
Best industrialist award from Governor of
Rajasthan.
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.51.55 |
|
|
1 |
Rs.81.95 |
|
Euro |
1 |
Rs.67.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.