MIRA INFORM REPORT

Report Date :

16.06.2012

IDENTIFICATION DETAILS

Name :	SHRIRAM VERITECH SOLUTIONS PRIVATE LIMITED (w.e.f. 21.01.2008)
Formerly Known As :	SHRIRAM HOLOGRAPHICS PRIVATE LIMITED
Registered Office :	42-B, 4^th Floor, 23 K.G. Marg, Himalaya House, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.03.1993
Com. Reg. No.:	55-052670
Paid-up Capital :	Rs.33.090 Millions
CIN No.: [Company Identification No.]	U74899DL1993PTC052670
TAN No.: [Tax Deduction & Collection Account No.]	DELS29901E
PAN No.: [Permanent Account No.]	AAACS2261A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Paper Labels and Holograms.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 199000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Sandeep
Designation :	Assistant Manager
Contact No.:	91-9990903637
Date :	13.06.2012

LOCATIONS

Registered Office :	42-B, 4^th Floor, 23 K.G. Marg, Himalaya House, New Delhi – 110 001, India
Tel. No.:	91-11-23715430
Mobile No.:	91-9990903637 (Mr. Sandeep)
Fax No.:	91-11-23715430
E-Mail :	neelam@veritechindia.com info@veritechindia.com sandeep.punia@veritechindia.com sales@veritechindia.com (Domestic Enquiry) enquiry@veritechindia.com (International Enquiry)
Website :	www.veritechindia.com
Location :	Owned
Head Office/ Factory :	B-1, Sector – 6, Gautam Budha Nagar, Noida – 201 301, Uttar Pradesh, India
Tel. No.:	91-120-4503301/ 4503300/ 08/ 4247450/ 4247451
Fax No.:	91-120-4261635
Branch Office :	Located at: v Delhi v Mumbai v Bangalore v Chennai v Hyderabad v Kolkata v Pune v Jaipur v Chandigarh v Ahmedabad

DIRECTORS

As on 25.09.2010

Name :

Mr. Deepak Charat Ram Shriram

Designation :

Director

Address :

26, Sardar Patel Marg, New Delhi – 110 021, India

Date of Birth/Age :

24.03.1942

Date of Appointment :

18.03.1993

DIN No.:

00055636

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L29112DL1963PLC004084	Shriram Pistons and Rings Limited	Managing director	02-04-08	02-04-83	01-04-09	Active	NO
2	U34300DL1982PLC014285	Shriram Automotive Products Limited	Director	29-01-92	29-01-92	-	Active	NO
3	U74899DL1993PTC052539	Shriram Marketing Private Limited	Director	12-03-93	12-03-93	-	Active	NO
4	U74899DL1993PTC052670	Shriram Veritech Solutions Private Limited	Director	18-03-93	18-03-93	-	Active	NO
5	U74899DL1982PTC014390	Charat Ram Shriram Private Limited	Director	30-08-94	30-08-94	-	Active	NO
6	U31909DL1984PTC106973	Sera Com Private Limited	Director	30-09-02	30-09-02	-	Active	NO
7	U31909DL1984PTC103720	Manisha Commercial Private Limited	Director	30-09-02	30-09-02	-	Active	NO
8	U74899DL1984PTC109091	Sarva Commercial Private Limited	Director	30-10-03	30-10-03	-	Active	NO
9	U51909DL2005PLC136329	SPR International Auto Exports Limited	Director	17-05-05	17-05-05	23-03-09	Active	NO
10	U74899DL1984PTC109092	Shabnam Commercial Private Limited	Director	17-12-09	30-10-06	-	Active	NO

Name :

Mr. Luv Deepak Shriram

Designation :

Managing Director

Address :

26, Sardar Patel Marg, New Delhi – 110 021, India

Date of Birth/Age :

02.08.1972

Date of Appointment :

03.09.2007

DIN No.:

00051065

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U52599DL1988PTC112606	Shriram Alpine Sales Private Limited	Director	13-08-90	13-08-90	Active	NO
2	U34300DL1982PLC014285	Shriram Automotive Products Limited	Director	28-01-92	28-01-92	Active	NO
3	U74899DL1993PTC052670	Shriram Veritech Solutions Private Limited	Managing director	03-09-07	30-08-93	Active	NO
4	U74899DL1982PTC014390	Charat Ram Shriram Private Limited	Director	06-09-01	06-09-01	Active	NO
5	U31909DL1984PTC106973	Sera Com Private Limited	Director	30-09-02	30-09-02	Active	NO
6	U31909DL1984PTC103720	Manisha Commercial Private Limited	Director	30-11-02	30-11-02	Active	NO
7	U74899DL1993PTC052539	Shriram Marketing Private Limited	Director	18-01-04	18-01-04	Active	NO
8	U74899DL2005PTC137994	Itara Prints Private Limited	Director	24-06-05	24-06-05	Active	NO
9	U74899DL1984PTC109091	Sarva Commercial Private Limited	Director	08-10-08	08-10-08	Active	NO
10	L29112DL1963PLC004084	Shriram Pistons And Rings Limited	Director	20-06-09	01-04-09	Active	NO
11	U74899DL1984PTC109092	Shabnam Commercial Private Limited	Director	17-06-09	17-06-09	Active	NO
12	U70101MH1990PTC058407	Kiki Farms Private Limited	Additional director	09-05-12	09-05-12	Active	NO

Name :

Mr. Ramesh Babu Sharma

Designation :

Director

Address :

Aashirwad, 4287/3, Ansari Road, Daryaganj, New Delhi – 110 002, India

Date of Birth/Age :

13.12.1952

Date of Appointment :

02.05.2008

DIN No.:

00050604

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U52599DL1988PTC112606	Shriram Alpine Sales Private Limited	Director	28-11-88	28-11-88	Active	NO
2	U74899DL1982PTC014390	Charat Ram Shriram Private Limited	Director	30-11-90	30-11-90	Active	NO
3	U31909DL1984PTC103720	Manisha Commercial Private Limited	Director	30-09-02	30-09-02	Active	NO
4	U74899DL1993PTC052539	Shriram Marketing Private Limited	Director	18-01-04	18-01-04	Active	NO
5	U74899DL1993PTC052670	Shriram Veritech Solutions Private Limited	Director	02-05-08	02-05-08	Active	NO

Name :

Mr. Ram Charat

Designation :

Director

KEY EXECUTIVES

Name :	Mr. Girinder Kumar
Designation :	Secretary
Address :	C-508, Prabhat Apartment, Plot No.11, Sector – 23, Dwarka, New Delhi – 110 075, India
Date of Birth/Age :	03.10.1968
Date of Appointment :	02.05.2002
Pan No.:	AAOPK0214C
Name :	Mr. Sandeep
Designation :	Assistant Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2010

Names of Equity Shareholders	No. of Shares	Percentage of Holding
Deepak Charat Sharma	20934	10.69
Luv Deepak Shriram	105786	54.00
Aashish Taneja	24590	12.55
Anjali Taneja	14590	7.45
Sera Com Private Limited, India	30000	15.31
Total	195900	100.00

Names of Preference Shareholders	No. of Shares
Sera Com Private Limited, India	95000
Manisha Commercial Private Limited, India	40000
Total	135000

As on 25.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	15.00
Directors or relatives of directors	65.00
Other top fifty shareholders	20.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Paper Labels and Holograms.
Products :	v Labels v Holograms v Stamping Foils v Packaging Films v Shrink Sleeves v Induction Seals v Lamination Films v Lenticulars
Exports :
Products :	v Paper Labels v Hologram
Countries :	v Gulf Countries v Saudi Arabia v Nepal v Sri Lanka v Bangladesh
Terms :
Selling :	Credit (30 days)
Purchasing :	Credit (30 days)

GENERAL INFORMATION

Customers :

Others (Corporate)

No. of Employees :

200 (Approximately)

Bankers :

v Axis Bank, 4/10, OPG House, Asaf Ali Road, New Delhi – 110 002, India

v Syndicate Bank, Mayapuri, New Delhi – 110 064, India

v Axis Bank, Sector – 16, Noida, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Term Loan from Bank	48.686	12.269
Total	48.686	12.269

Notes:

i) Secured against the hypothecation of Current and fixed assets (excluding vehicles) of the company, the collateral security of equitable mortgage on residential property and personal guarantee of Managing Director of the company, as the case is.

ii) Amount repayable during the next 12 months N.A. (Previous year Rs.3.132 millions.

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Shriram Automotive Products Limited	6.043	0.000
From Directors		6.101
Interest Accrued and Due		0.123
Total	6.043	6.224

Banking Relations :	--
Auditors :
Name :	S.R. Dinodia and Company Chartered Accountants
Address :	K 39, Connaught Place, New Delhi – 110 001, India
Tel. No.:	91-11-23418016 /23417630 /41521358/ 43703300
Fax No.:	91-11-41513666
E-Mail :	srdinodia@srdinodia.com
Website :	www.srdinodia.com
PAN No.:	AACFS2559N
Associates/Subsidiaries :	v Shriram Pistons and Rings Limited v Shriram Cement v Usha Lexus

CAPITAL STRUCTURE

As on 25.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs.50.000 Millions
200000	Preference Shares	Rs.100/- each	Rs.20.000 Millions
	Total		Rs.70.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
195900	Equity Shares	Rs.100/- each	Rs.19.590 Millions
135000	Preference Shares	Rs.100/- each	Rs.13.500 Millions
	Total		Rs.33.090 Millions

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
1] Share Capital		33.090	12.090	12.090
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		16.757	11.211	5.952
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		49.847	23.301	18.042
LOAN FUNDS
1] Secured Loans		48.686	12.269	4.310
2] Unsecured Loans		6.043	6.224	6.257
TOTAL BORROWING		54.729	18.493	10.567
DEFERRED TAX LIABILITIES		3.513	1.058	0.107
TOTAL		108.089	42.852	28.716
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		83.873	28.782	15.226
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.099	4.370	3.424
	Sundry Debtors	22.151	20.039	14.100
	Cash & Bank Balances	1.422	5.730	3.396
	Other Current Assets	0.001	0.003	0.022
	Loans & Advances	9.739	3.112	5.346
Total Current Assets		40.412	33.254	26.288
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	16.831	6.686	2.392
	Other Current Liabilities		8.782	6.776
	Provisions	(0.635)	3.716	3.630
Total Current Liabilities		16.196	19.184	12.798
Net Current Assets		24.216	14.070	13.490
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		108.089	42.852	28.716

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income	116.241	86.695
		Other Income	0.344	0.219
		TOTAL (A)	116.585	86.914
Less	EXPENSES
		Manufacturing and operating expenses	60.320	38.477
		Purchase of traded goods	1.967	0.569
		Payment to and provision for employees	22.372	18.916
		Administrative and other expenses	11.111	9.403
		Selling and distribution expenses	2.092	2.039
		Increase/Decrease in stock	(1.057)	(0.612)
		TOTAL (B)	96.805	68.792
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		19.780	18.122
Less	FINANCIAL EXPENSES (D)		4.008	2.277
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.772	15.845
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.992	4.633
	PROFIT BEFORE TAX (E-F) (G)		7.780	11.212
Less	TAX (H)		2.456	3.831
	PROFIT AFTER TAX (G-H) (I)		5.324	7.381
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		8.210	3.701
Add	Excess provision for previous years written back		0.222	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.750
		Proposed Dividend	0.000	1.814
		Provision for dividend distribution tax	0.000	0.308
	BALANCE CARRIED TO THE B/S		13.756	8.210
	Earnings Per Share (Rs.)		27.18	61.05

	PARTICULARS	31.03.2009
	Turnover (including other income)	61.749
	EXPENSES	55.195
	PROFIT BEFORE TAX	6.951
Less	TAX	2.484
	PROFIT AFTER TAX	4.467
	Earnings Per Share (Rs.)	49.59

Particulars	31.03.2012
Sales Turnover (Approximately)	150.000

Expected Sales (2012-2013): Rs.200.000 millions

The above information has been parted by Mr. Sandeep (Assistant Manager).

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.57	8.49	7.23
Net Profit Margin (PBT/Sales)	(%)	6.69	12.93	NA
Return on Total Assets (PBT/Total Assets}	(%)	6.26	18.07	16.74
Return on Investment (ROI) (PBT/Networth)		0.16	0.48	0.39
Debt Equity Ratio (Total Liability/Networth)		1.43	1.62	1.30
Current Ratio (Current Asset/Current Liability)		2.50	1.73	2.05

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	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
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	U74899DL1993PTC052670
Name of the company	SHRIRAM VERITECH SOLUTIONS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	42-B, 4^th Floor, 23 K.G. Marg, Himalaya House, New Delhi – 110 001, India Email Id : info@veritechindia.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10144274
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	Axis Bank, 4/10, OPG House, Asaf Ali Road, New Delhi – 110 002, India Email Id : axisbank@gmail.com
Nature of instrument creating charge	Amendment cum link agreement
Date of instrument Creating the charge	08.09.2010
Amount secured by the charge	Rs.16.279 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction letter no.AXISB/SME/DELHI/2010-11/6558 dated 03.09.2010 to be amended from time to time. Terms of Repayment As per sanction letter no.AXISB/SME/DELHI/2010-11/6558 dated 03.09.2010 to be amended from time to time. Margin As per sanction letter no.AXISB/SME/DELHI/2010-11/6558 dated 03.09.2010 to be amended from time to time. Extend and operation of the charge Extend and operation – 100% Others The above is secure the following Term Loan (fresh) – Rs.15.000 Millions Term Loan (takeover) – Rs.1.279 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation by way of first and exclusive charge on entire current assets and movable fixed assets (Exclusive Vehicles) of the company and proposed acquisition of Plant and Machinery which shall be purchased by way of part finance from this term loan
Particulars of the present modification	There being no change in the Term Loan of Rs.16.279 Millions already registered however the charge is being modified due to change in the rate of interest i.e. 3% above Axis Bank’s base rate (the Base rate applicable is 7.50% p.a.) i.e. Presently @10.50% p.a. Payable monthly or at such others rate as the bank may fix from time to time and shall con. To be sec. by 1^st and excl. charge in entire current assets and movable and fixed assets (Excl. Vehicles) of the company and proposed acquisition of plant and machinery which shall be purchased by way of part finance from term loan.

FIXED ASSETS:

v Plant Machinery

v Furniture and Fittings

v Air Conditioner

v Electrical Installations

v Office Equipments

v Electric Generators

v Dies

v Tools and Equipments

v Computers

v Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.55.76
UK Pound	1	Rs.86.69
Euro	1	Rs.70.44

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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	-

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.