MIRA INFORM REPORT

 

 

Report Date :

14.12.2012

 

IDENTIFICATION DETAILS

 

Name :

VIVATIS PHARMA GMBH

 

 

Registered Office :

Mühlendamm 66a, D 22087 Hamburg

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

08.02.2000

 

 

Com. Reg. No.:

HRB 74650

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Non-specialized wholesale of raw materials and half-finished and finished goods

 

 

No. of Employees :

31 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory  

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear 

 

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 – June 30th, 2012

                                                   

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

germany - ECONOMIC OVERVIEW

 

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.

 

 

 

Source : CIA


Company name

 

Vivatis Pharma GmbH

 

Company address

 

Mühlendamm 66a

D 22087 Hamburg

Telephone:        040/2369090

Telefax:            040/23690936

Homepage:       www.vivatis.de

E-mail:              info@vivatis.de

 

 

VAT no  

 

DE813098200

 

 

Tax ID number

 

43/766/00519

 

 

Company Status

 

active

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:       08.02.2000

Shareholders'

agreement:                    08.02.2000

Registered on:              09.03.2000

Commercial Register:    Local court 20355 Hamburg

under:                                       HRB 74650

Share capital:                 EUR             25,000.00

 


Shareholder

 

Peter Franck

Voßberg 8

D 22926 Ahrensburg

born: 13.02.1961

Share:             EUR             12,500.00

 

Shareholder:

Thomas Detlef Boner

Am Pfeilshof 14r

D 22393 Hamburg

born: 30.06.1962

Share:             EUR             12,500.00

 

 

Manager

 

Peter Bos

Nissenstr. 16

D 20251 Hamburg

born: 12.04.1969

Marital status: married

 

Manager:

                     Peter Franck

                     Voßberg 8

                     D 22926 Ahrensburg

                     having sole power of representation

                     born: 13.02.1961

                     Profession: Businessman

                     Marital status: married

Manager:

                     Thomas Detlef Boner

                     Am Pfeilshof 14r

                     D 22393 Hamburg

                     having sole power of representation

                     born: 30.06.1962

                     Profession: Pharmacist

                     Marital status: married

 

 

Proxy

 

Fedor Dreher

D 22087 Hamburg

authorized to jointly represent the company

born: 04.07.1975

 

Further functions/participations of Peter Franck (Manager)

 

Shareholder:

                     Vivatis Arzneimittel GmbH

                     Kuehnstr. 75a

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             60,000.00

                     Share:             EUR             15,000.00

                     Registered

                     on:         06.08.2010

                     Reg. data:  20355 Hamburg, HRB 114774

Shareholder:

                     Goco Lifestyle Beverages GmbH

                     Jarrestr. 80

                     D 22303 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             42,000.00

                     Share:             EUR             12,600.00

                     Registered

                     on:         04.11.2008

                     Reg. data:  20355 Hamburg, HRB 107174

Shareholder:

                     WEST-TEC Medical GmbH

                     Looge 12a

                     D 22927 Großhansdorf

                     Legal form: Private limited company

                     Share capital:     EUR             25,004.00

                     Share:             EUR              3,334.00

                     Registered

                     on:         19.10.2010

                     Reg. data:  23568 Lübeck, HRB 10484 HL

Shareholder:

                     ARIAD IP Capital GmbH

                     Hohe Bleichen 13

                     D 20354 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             60,000.00

                     Share:             EUR              2,060.00

                     Registered

                     on:         06.03.2008

                     Reg. data:  20355 Hamburg, HRB 104440

Shareholder:

                     JEONJINBIO Deutschland UG

                     (haftungsbeschränkt)

                     Beimoorkamp 6

                     D 22926 Ahrensburg

                     Legal form: Entrepreneur Company (limited

                                 liability)

                     Share capital:     EUR              1,000.00

                     Share:             EUR                500.00

                     Registered

                     on:         22.12.2010

                     Reg. data:  23568 Lübeck, HRB 10668 HL

Shareholder:

                     Oil Reductor UG (haftungsbeschränkt)

                     Beimoorkamp 6

                     D 22926 Ahrensburg

                     Legal form: Entrepreneur Company (limited

                                 liability) in liquidation

                     Share capital:     EUR              1,000.00

                     Share:             EUR                500.00

                     Registered

                     on:         03.05.2011

                     Reg. data:  23568 Lübeck, HRB 11043 HL

Shareholder:

                     vita coco lifestyle beverages UG

                     (haftungsbeschränkt)

                     Geibelstr. 46

                     D 22303 Hamburg

                     Legal form: Entrepreneur Company (limited

                                 liability)

                     Share capital:     EUR                360.00

                     Share:             EUR                 72.00

                     Registered

                     on:         19.03.2010

                     Reg. data:  20355 Hamburg, HRB 113125

Shareholder:

                     GOGN Verwertung von Namensrechten UG

                     (haftungsbeschränkt)

                     Jarrestr. 80

                     D 22303 Hamburg

                     Legal form: Entrepreneur Company (limited

                                 liability)

                     Share capital:     EUR                360.00

                     Share:             EUR                 36.00

                     Registered

                     on:         16.03.2010

                     Reg. data:  20355 Hamburg, HRB 113071

Manager:

                     Vivatis Arzneimittel GmbH

                     Kuehnstr. 75a

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             60,000.00

                     Registered

                     on:         06.08.2010

                     Reg. data:  20355 Hamburg, HRB 114774

Manager:

                     JEONJINBIO Deutschland UG

                     (haftungsbeschränkt)

                     Beimoorkamp 6

                     D 22926 Ahrensburg

                     Legal form: Entrepreneur Company (limited

                                 liability)

                     Share capital:     EUR              1,000.00

                     Registered

                     on:         22.12.2010

                     Reg. data:  23568 Lübeck, HRB 10668 HL

 

Further functions/participations of Thomas Detlef Boner (Manager)

 

Proprietor:

                     Lerchenfeld-Apotheke e.K.

                     Lerchenfeld 14

                     D 22081 Hamburg

                     Legal form: Sole proprietorship

                     Registered

                     on:         27.07.1999

                     Reg. data:  20355 Hamburg, HRA 93358

General partner:

                     Antares Apotheken oHG

                     Albert-Schweitzer-Ring 22

                     D 22045 Hamburg

                     Legal form: General Partnership

                     Registered

                     on:         11.08.2009

                     Reg. data:  20355 Hamburg, HRA 110414

Limited partner:

                     ZytoService Alster GmbH & Co. KG

                     Lerchenfeld 14

                     D 22081 Hamburg

                     Legal form: Ltd partnership with priv. ltd.

                                 company as general partner

                                 dissolved

                     Total cap.         EUR              5,000.00

                     contribution:

                     Share:             EUR              5,000.00

                     Registered

                     on:         12.07.2006

                     Reg. data:  20355 Hamburg, HRA 104164

Shareholder:

                     Bonistyle GmbH

                     Rabenhorst 27

                     D 22391 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Share:             EUR             25,000.00

                     Registered

                     on:         08.01.2009

                     Reg. data:  20355 Hamburg, HRB 107916

Shareholder:

                     Vivatis Arzneimittel GmbH

                     Kuehnstr. 75a

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             60,000.00

                     Share:             EUR             15,000.00

                     Registered

                     on:         06.08.2010

                     Reg. data:  20355 Hamburg, HRB 114774

Shareholder:

                     THPG Medical Service GmbH

                     Albert-Schweitzer-Ring 22

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             30,000.00

                     Share:             EUR             10,000.00

                     Registered

                     on:         22.07.2009

                     Reg. data:  20355 Hamburg, HRB 110277

Shareholder:

                     ZytoService Deutschland GmbH

                     Albert-Schweitzer-Ring 18

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Share:             EUR              7,500.00

                     Registered

                     on:         27.09.2007

                     Reg. data:  20355 Hamburg, HRB 102568

Shareholder:

                     IfPM - Institut für Pharmakoökonomisches

                     Management GmbH

                     Albert-Schweitzer-Ring 22

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             30,000.00

                     Share:             EUR              7,500.00

                     Registered

                     on:         03.08.2009

                     Reg. data:  20355 Hamburg, HRB 110421

Manager:

                     ZytoService Alster Beteiligungs GmbH

                     Lerchenfeld 14

                     D 22081 Hamburg

                     Legal form: Private limited company

                                 dissolved

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         22.06.2006

                     Reg. data:  20355 Hamburg, HRB 97631

Manager:

                     Bonistyle GmbH

                     Rabenhorst 27

                     D 22391 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         08.01.2009

                     Reg. data:  20355 Hamburg, HRB 107916

Manager:

                     Bonial Pharma Holding GmbH

                     Mühlendamm 66

                     D 22087 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         05.08.2002

                     Reg. data:  20355 Hamburg, HRB 84430

Manager:

                     ZytoService GmbH

                     Albert-Schweitzer-Ring 22

                     D 22045 Hamburg

                     Legal form: Private limited company

                                 dissolved

                     Share capital:     EUR             30,000.00

                     Registered

                     on:         30.04.2003

                     Reg. data:  20355 Hamburg, HRB 87105

Manager:

                     ZytoService Deutschland GmbH

                     Albert-Schweitzer-Ring 18

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         27.09.2007

                     Reg. data:  20355 Hamburg, HRB 102568

Manager:

                     THPG Medical Service GmbH

                     Albert-Schweitzer-Ring 22

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             30,000.00

                     Registered

                     on:         22.07.2009

                     Reg. data:  20355 Hamburg, HRB 110277

Manager:

                     IfPM - Institut für Pharmakoökonomisches

                     Management GmbH

                     Albert-Schweitzer-Ring 22

                     D 22045 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             30,000.00

                     Registered

                     on:         03.08.2009

                     Reg. data:  20355 Hamburg, HRB 110421


Manager:

                     Bonial GmbH

                     Rabenhorst 27

                     D 22391 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         18.08.2010

                     Reg. data:  20355 Hamburg, HRB 114899

 

 

COMPANY HISTORY

 

09.03.2000 - 08.02.2001  TAMO 79.

                         Vermögensverwaltungsgesellschaft mbH

                         Scheffelstr. 4

                         D 22301 Hamburg

                         Private limited company

09.02.2001 - 14.06.2001  TAMO 79.

                         Vermögensverwaltungsgesellschaft mbH

                         Mühlendamm 66

                         D 22087 Hamburg

                         Private limited company

 

 

BUSINESS ACTIVITIES

 

Secondary industrial sector

46902   Non-specialized wholesale of raw materials and half-finished and finished goods

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

 

Negative information:    We have no negative information at hand.

 

Balance sheet year:       2011

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Mühlendamm 66a

                                    D 22087 Hamburg

 


Real Estate of:              Peter Bos

Type of ownership:        unknown

Address                        Schellingstr. 94

                                    D 22089 Hamburg

 

Land register documents were not available.

 

 

BANKERS

 

HAMBURGER SPARKASSE, HAMBURG

Sort. code: 20050550, BIC: HASPDEHHXXX

 

UNICREDIT BANK - HYPOVEREINSBANK, HAMBURG

Sort. code: 20030000, BIC: HYVEDEMM300

 

 

FINANCIAL FIGURES

 

Gross profit or loss:2010               EUR          4,420,049.00

                     2011               EUR          4,423,927.00

Profit:              2010               EUR          1,202,436.00

                     2011               EUR          1,411,394.00

further business figures:

Equipment:                              EUR             75,503.00

Ac/ts receivable:                       EUR          5,198,134.00

Liabilities:                            EUR          5,879,700.00

Total numbers of vehicles:                                      4

Employees:                                                     31

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]:                 38.37

Liquidity ratio:                   1.70

Return on total capital [%]:      13.29

 

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]:                 48.23

Liquidity ratio:                   2.44

Return on total capital [%]:      13.47

 

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]:                 41.93

Liquidity ratio:                   2.18

Return on total capital [%]:      19.35

 

Balance sheet ratios 01.01.2008 - 31.12.2008

Equity ratio [%]:                 28.67

Liquidity ratio:                   1.08

Return on total capital [%]:      12.00

 

Equity ratio

The equity ratio indicates the portion of the equity as compared to the total capital. The higher the equity ratio, the better the economic stability (solvency) and thus the financial autonomy of a company.

 

Liquidity ratio

The liquidity ratio shows the proportion between adjusted receivables and net liabilities. The higher the ratio, the lower the company's financial dependancy from external creditors.

 

Return on total capital

The return on total capital shows the efficiency and return on the total capital employed in the company. The higher the return on total capital, the more economically does the company work with the invested capital.

 

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2011 - 31.12.2011

 

ASSETS                                  EUR         10,715,174.20

 Fixed assets                           EUR            119,757.00

  Intangible assets                     EUR              1,854.00

   Other / unspecified intangible assetsEUR              1,854.00

  Tangible assets                       EUR             75,503.00

   Other tangible assets / fixtures and

   fittings                             EUR             75,503.00

  Financial assets                      EUR             42,400.00

   Shares in participations /

   subsidiaries and the like            EUR             42,400.00

    Shares in related companies         EUR             42,400.00

 Current assets                         EUR         10,587,012.72

  Stocks                                EUR          2,553,436.47

  Accounts receivable                   EUR          5,198,133.90

   thereof total due from shareholders  EUR             30,000.00

   Other debtors and assets             EUR          5,198,133.90

  Liquid means                          EUR          2,835,442.35

 Remaining other assets                 EUR              8,404.48

  Accruals (assets)                     EUR              8,404.48

 

LIABILITIES                             EUR         10,715,174.20

 Shareholders' equity                   EUR          4,130,393.16

  Capital                               EUR             25,000.00

   Subscribed capital (share capital)   EUR             25,000.00

  Balance sheet profit/loss (+/-)       EUR          4,105,393.16

   Balance sheet profit / loss          EUR          4,105,393.16

 Provisions                             EUR            705,081.00

 Liabilities                            EUR          5,879,700.04

  Other liabilities                     EUR          5,879,700.04

   Unspecified other liabilities        EUR          5,879,700.04

 

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

 Gross result (+/-)                     EUR          4,423,927.00

 Staff expenses                         EUR          2,041,000.79

  Wages and salaries                    EUR          1,777,021.81

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR            263,978.98

 Total depreciation                     EUR             41,413.68

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR             41,413.68

 Other operating expenses               EUR          1,337,103.15

 Operating result from continuing

 operations                             EUR          1,004,409.38

 Result from participating interests

 (+/-)                                  EUR            794,339.99

  Expenses / income from participations EUR            794,339.99

   Income from related companies        EUR            794,339.99

 Interest result (+/-)                  EUR            -47,295.12

  Interest and similar income           EUR             12,308.96

  Interest and similar expenses         EUR             59,604.08

 Financial result (+/-)                 EUR            747,044.87

 Result from ordinary operations (+/-)  EUR          1,751,454.25

 Extraordinary expenses                 EUR              9,048.00

 Extraordinary result (+/-)             EUR             -9,048.00

 Income tax / refund of income tax (+/-)EUR           -328,294.53

 Other taxes / refund of taxes          EUR             -2,717.31

 Tax (+/-)                              EUR           -331,011.84

 Annual surplus / annual deficit        EUR          1,411,394.41

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2010 - 31.12.2010

 

ASSETS                                  EUR          9,023,235.01

 Fixed assets                           EUR            187,090.00

  Intangible assets                     EUR              5,110.00

   Other / unspecified intangible assetsEUR              5,110.00

  Tangible assets                       EUR            139,580.00

   Other tangible assets / fixtures and

   fittings                             EUR            139,580.00

  Financial assets                      EUR             42,400.00

   Shares in participations /

   subsidiaries and the like            EUR             42,400.00

    Shares in related companies         EUR             42,400.00

 Current assets                         EUR          8,825,565.72

  Stocks                                EUR          1,755,720.39

  Accounts receivable                   EUR          5,341,191.56

   thereof total due from shareholders  EUR             30,000.00

   Other debtors and assets             EUR          5,341,191.56

  Liquid means                          EUR          1,728,653.77

 Remaining other assets                 EUR             10,579.29

  Accruals (assets)                     EUR             10,579.29

 

LIABILITIES                             EUR          9,023,235.01

 Shareholders' equity                   EUR          4,368,998.75

  Capital                               EUR             25,000.00

   Subscribed capital (share capital)   EUR             25,000.00

  Balance sheet profit/loss (+/-)       EUR          4,343,998.75

   Balance sheet profit / loss          EUR          4,343,998.75

 Provisions                             EUR            745,488.00

 Liabilities                            EUR          3,908,748.26

  Other liabilities                     EUR          3,908,748.26

   Unspecified other liabilities        EUR          3,908,748.26

 

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

 Gross result (+/-)                     EUR          4,420,049.13

 Staff expenses                         EUR          2,005,848.39

  Wages and salaries                    EUR          1,711,815.94

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR            294,032.45

 Total depreciation                     EUR             67,096.66

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR             67,096.66

 Other operating expenses               EUR          1,349,556.31

 Operating result from continuing

 operations                             EUR            997,547.77

 Result from participating interests

 (+/-)                                  EUR            674,000.00

  Expenses / income from participations EUR            674,000.00

   Income from related companies        EUR            674,000.00

 Interest result (+/-)                  EUR            -15,796.70

  Interest and similar income           EUR             10,171.07

  Interest and similar expenses         EUR             25,967.77

 Financial result (+/-)                 EUR            658,203.30

 Result from ordinary operations (+/-)  EUR          1,655,751.07

 Extraordinary expenses                 EUR              9,048.00

 Extraordinary result (+/-)             EUR             -9,048.00

 Income tax / refund of income tax (+/-)EUR           -441,519.76

 Other taxes / refund of taxes          EUR             -2,747.24

 Tax (+/-)                              EUR           -444,267.00

 Annual surplus / annual deficit        EUR          1,202,436.07

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.54.23

UK Pound

1

Rs.87.53

Euro

1

Rs.70.94

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.