MIRA INFORM
REPORT
Preliminary report
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Report Date : |
27.04.2012 |
IDENTIFICATION DETAILS
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Name : |
ROSY
BLUE HONG KONG
LTD. |
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Registered Office : |
Room 403-404, 4/F., Harbour Centre, Tower 2, |
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Country : |
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Date of Incorporation : |
15.07.1986 |
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Com. Reg. No.: |
10439855 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Exporter, Wholesaler and Distributor of all kinds of diamond and jewellery |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Exists |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Hong Kong |
a2 |
a2 |
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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 |
Bottom of Form
ROSY BLUE HONG
KONG LTD.
Room 403-404, 4/F., Harbour Centre, Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
PHONE: 2523 9475
FAX: 2845 0940, 2523 9030, 2523 9538
E-MAIL: info@rosyblue.com
Managing Director: Mr. Maiank Mehta
Incorporated on: 15th July, 1986.
Organization: Private Limited Company.
Capital: Nominal: HK$10,000.00 & US$3,700,000.00
Issued: HK$3.00 & US$3,700,000.00
Business Category: Diamond and Jewellery Trader.
Employees: 20.
Main Dealing Banker: The Royal Bank of Scotland N.V., Hong Kong Branch.
Banking Relation: Satisfactory.
Registered Head
Office:-
Room 403-404, 4/F., Harbour Centre, Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.
Holding Company:-
Prime Investments S.A., Luxembourg.
Ultimate Holding
Company:-
Rosy Blue Investments S.a.r.l., Luxembourg.
Associated/Affiliated
Companies:-
Rosy Blue Group of Companies
· R.B. Solitaires Inc., USA.
· Rosy Blue (Eurasia) FZE, UAE.
· Rosy Blue (India) Pvt. Ltd., India.
· Rosy Blue (Shanghai) Diamond Co. Ltd., China.
· Rosy Blue Diamond Co. Ltd., Thailand.
· Rosy Blue Diamond Sales Ltd., Israel.
· Rosy Blue Fine Inc., USA.
· Rosy Blue Inc., USA.
· Rosy Blue International S.A., Luxembourg.
· Rosy Blue Jewellery (HK) Ltd., Hong Kong.
· Rosy Blue Ltd., Japan.
· Rosy Blue N.V., Belgium.
· Rosy Blue Overseas Holdings Ltd., Hong Kong.
· Rosy Blue Trading (Pty) Ltd., South Africa.
· Rosy Blue Trading Inc., USA.
· Rosy Blue Trading LLC, UAE.
etc.
10439855
0171832
Executive Director & Group Chief Executive Officer: Mr. Dilip Ramniklal Mehta
Managing Director: Mr. Maiank Mehta
Nominal Share Capital: HK$10,000.00 & US$3,700,000.00
(Divided into 10,000 Ordinary shares of HK$1.00 each and 3,700,000 Redeemable Preference shares of US$1.00 each)
Issued Share Capital: HK$3.00 & US$3,700,000.00
(As per registry
dated 15-07-2010)
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Name |
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No. of shares |
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Redeemable Preference |
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Maiank MEHTA |
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1 |
- |
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Prime Investments S.A. 63, Boulevard Prince Felix, L-1513 Luxembourg, Luxembourg. |
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2 |
3,700,000 |
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–– |
–––––––– |
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Total: |
3 = |
3,700,000 ======= |
(As per registry
dated 15-07-2010)
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Name (Nationality) |
Address |
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Maiank MEHTA |
Flat A, 7/F., Block 1, Estoril Court, 55 Garden Road, Hong Kong. |
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Dilip Ramniklal MEHTA |
1200 Shanu Deep, 10 Altamount Road, Mumbai 400026, India. |
(As per registry
dated 13-06-2011)
|
Name |
Address |
Co.
No. |
|
EQ Secretaries Ltd. |
36/F., Tower Two, Tines Square, 1 Matheson Street, Causeway Bay, Hong Kong. |
0099444 |
The subject was incorporated on 15th July, 1986 as a private limited liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Jade Made Enterprises Ltd., name changed to R.B. Diamond Sales Ltd. on 7th October, 1986; and further to the present style on 17th January, 1997.
Formerly the subject’s registered office was located at 18/F., Lincoln House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong, moved to 31/F., The Center, 99 Queen’s Road Central, Hong Kong in August 2005, and further to the present address with effect from 16th May, 2011.
Last time the head office of the subject was located at Room 3601, 36/F., New World Tower, 18 Queen’s Road Central, Hong Kong. Now, the subject’s registered office is the same as its head office.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Importer, Exporter, Wholesaler and Distributor.
Lines: All kinds of diamond and jewellery.
Employees: 20.
Commodities Imported: Imported from Belgium, India, Israel, USA, Thailand, etc.
Markets: Japan, USA, Europe, Asian countries, etc.
Terms/Sales: On various terms.
Terms/Buying: L/C.
· Japan Jewellery Association, Japan.
·
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKR0306]
Nominal Share Capital: HK$10,000.00 & US$3,700,000.00
(Divided into 10,000 Ordinary shares of HK$1.00 each and 3,700,000 Redeemable Preference shares of US$1.00 each)
Issued Share Capital: HK$3.00 & US$3,700,000.00
Indebtedness: HK$12,899,416.12 (Total amount outstanding on all mortgages and charges as
per last Annual Return dated 15-07-2010)
Mortgage or Charge: (See attachment)
Profit or Loss: Making a small profit every year.
Condition: Keeping in an active condition.
Facilities: Making active use of general banking facilities.
Payment: Met trade commitments on time.
Commercial Morality: Satisfactory.
Bankers:-
· The Royal Bank of Scotland N.V., Hong Kong Branch.
· Antwerpse DiamantBank NV (also known as Antwerp Diamond Bank NV), Hong Kong Branch.
Standing: Normal.
Incorporated in 1986, Rosy Blue Hong Kong Ltd. is one third owned by Mr. Maiank Mehta and two thirds held by Prime Investments S.A., a Luxembourg-registered firm. The subject in fact is a member of the Rosy Blue Group with headquarters in Luxembourg known as Rosy Blue Investments S.a.r.l. [Rosy Blue].
The subject is trading in fine diamonds and jewellery. It is able to provide customers with a wide range of polished diamonds with different sizes, colour cuttings and quantities. Moreover, it provides finished jewellery products to the worldwide. Main products of the subject are diamond pendants, white gold diamond pendants, 18K gold rings, white gold rings, white gold pendants, gold ring, loose diamonds, carat size diamonds, diamond necklaces and earrings, etc.
Originally Rosy Blue was established in 1960 in Mumbai, India as a diamond manufacturer. It is an Indian firm with corporate headquarters in India. Currently, Rosy Blue is a family-owned company chiefly owned by the members of Mehta and Bhansali families.
As a sightholder and client of the Diamond Trading Company, BHP, Rio Tinto Diamonds and Alrosa, Rosy Blue is a key infrastructure provider to both small and large businesses.
Rosy Blue is one of the renowned diamond and jewellery companies in the world. Founded in 1960, Rosy Blue has grown from a single workshop specialized in polishing small diamonds to a global corporation. In 1973, Rosy Blue opened its new international headquarters in Antwerp, Belgium.
As a family-owned corporation with over 40 years of experience, the skill and knowledge of Rosy Blue have passed from generation to generation, each driven by a passion for innovation and quality.
Rosy Blue has its headquarters in India and Belgium with offices, factories and stores in 14 countries, about 5,100 direct employees.
Besides, Rosy Blue also has a 25% stake in the jewellery company Tse Sui Luen Jewellery (International) Ltd. [TSL], which has 15 shops in Hong Kong and 100 retail outlets on the Chinese mainland. TSL is a listed firm in Hong Kong. TSL usually purchases raw materials and finished goods from the subject.
Rosy Blue is now a global leader in the design, manufacture and distribution of fine diamonds and jewellery – a dynamic corporation built on expertise and integrity. From an exceptional supply of rough diamonds, through state‑of-the-art diamond manufacturing, Rosy Blue provides a comprehensive selection of polished diamonds and a complementary range of finished jewellery. In accordance with its highest ethical standards, Rosy Blue takes great care to verify the provenance of its rough diamonds. Its internal distribution systems are designed to track the diamonds through the manufacturing and finishing processes. The rough diamonds range from the smallest to the largest, in all forms and colours of sawables, makeables, cleavages, industrials and crystals. Rosy Blue procures diamonds from miners in Canada, Russia, South Africa and South America.
Rose Blue’s clients range from the world’s most prestigious brands to small, specialty jewellery houses. It also supplies the leading diamond manufacturers, distributors and retailers in every part of the world with a comprehensive range of diamonds, from the smallest polished stones, to single diamonds of the very highest quality.
The Rosy Blue Group has a significant involvement in jewellery manufacturing and distribution through various operations around the world, including Inter Gold, the Group’s jewellery manufacturing facility and the largest Indian exporter of diamond jewellery. Major customers are diamond brokers, diamond wholesalers and jewellery manufacturers.
As one of India’s largest diamond jewellery company, Rosy Blue supplies quality jewellery to a variety of segments and businesses. Its marketing and distribution network spreads throughout the globe with special expertise in the United States, Europe, Japan, and Asia Pacific; each backed by a local service desk.
The subject is fully supported by the Rosy Blue Group and ultimately by the Mehta family in India.
In order to penetrate the international market further, the subject has taken part in fairs and exhibitions held in Hong Kong and other foreign large cities.
As the history of the subject in Hong Kong is about twenty-five years, on the whole, consider it good for normal business engagements.
REMARKS:
Court case:-
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Action
Date |
Case
No. |
Plaintiff |
Defendant |
Cause |
Amount |
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Sept. 1995 |
H9184 |
R.B. Diamond Sales Ltd. [Now known as Rosy Blue Hong Kong Ltd.] |
La Venti Co. Ltd. |
Amount due |
HK$294,485 |
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Dec. 1998 |
H21734 |
Rosy Blue Hong Kong Ltd. |
Asian Gem Distributors (Hong Kong) Ltd. |
Amount due |
HK$252,829 |
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Nov. 2003 |
H1243 |
Rosy Blue Hong Kong Ltd. |
Anson Fine Jewellery Ltd. |
Companies Winding Up Proceedings |
Not stated |
Property information of the company:-
1. Property Location: Workshop
Unit 2 on 4/F., Harbour Centre, Tower 2,
8 Hok Cheung Street, Kowloon, Hong Kong.
Owner: Rosy Blue Hong Kong Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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28-09-2007 |
- |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
Mortgage to secure general banking facilities |
2. Property Location: Workshop
Unit 3 on 4/F., Harbour Centre, Tower 2,
8 Hok Cheung Street, Kowloon, Hong Kong.
Owner: Rosy Blue Hong Kong Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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28-09-2007 |
- |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
Mortgage to secure general banking facilities |
3. Property Location: Workshop Unit 4 on 4/F., Harbour Centre, Tower 2,
8 Hok Cheung Street, Kowloon, Hong Kong.
Owner: Rosy Blue Hong Kong Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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30-11-2007 |
- |
ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
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Date |
Particulars |
Amount |
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24-01-2002 |
Instrument: Debenture Property: 1) All freehold and leasehold property of the Company 2) All stocks shares bonds and securities of any kind whether marketable or otherwise and all other interests including loan capital of the Company 3) All book and other debts revenues and claims 4) The uncalled capital goodwill and all patents patent applications trade marks trade names registered designs and copyrights and all licences and ancillary and connected rights relating to the intangible property 5) The undertaking and all other assets of the Company Mortgagee: Antwerpse DiamantBank NV (also known as Antwerp Diamond Bank
NV), Hong Kong Branch. |
The general credit facilities of sum of HK$78,000,000 |
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16-07-2003 |
Instrument: Debenture Property: All the Company’s undertaking and property and assets whatsoever and wheresoever both present and future including all book and other debts revenues and claims Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
General banking facilities |
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27-04-2006 |
Instrument: Supplemental Debenture Property: The subject matter of the charge contained in the Debenture dated 16-07-2003, namely all the Company’s undertaking and property and assets whatsoever and wheresoever both present and future including all book and other debts revenues and claims Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
General banking facilities |
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28-09-2007 |
Instrument: Mortgage Property: 56/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit 2 on 4/F. of Harbour Centre, Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
All moneys, obligations and liabilities |
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28-09-2007 |
Instrument: Rental Assignment Property: 56/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit 2 on 4/F. of Harbour Centre, Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
All moneys, obligations and liabilities |
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28-09-2007 |
Instrument: Mortgage Property: 54/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit 3 on 4/F. of Harbour Centre, Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
All moneys, obligations and liabilities |
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30-11-2007 |
Instrument: Mortgage Property: 66/5,767th parts or shares of and in The Remaining Portion of Kowloon Marine Lot No. 113 (Workshop Unit 4 on 4/F. of Harbour Centre, Tower 2, 8 Hok Cheung Street, Hunghom, Kowloon, Hong Kong.) Mortgagee: ABN AMRO Bank N.V., Hong Kong Branch. [Now known as The Royal Bank of Scotland N.V.] |
All moneys, obligations and liabilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.57 |
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UK Pound |
1 |
Rs.85.03 |
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Euro |
1 |
Rs.69.56 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.