MIRA INFORM REPORT

 

 

Report Date :

05.10.2012

 

IDENTIFICATION DETAILS

 

Name :

CHAND FRUIT COMPANY PRIVATE LIMITED

 

 

Registered Office :

Gat No.154/2A+2B, Bagwan Agricultural Farm, Takli Road, Miraj - 416 410, District Sangli, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

11.08.1999

 

 

Com. Reg. No.:

11-013907

 

 

Capital Investment / Paid-up Capital :

Rs.5.768 Millions

 

 

CIN No.:

[Company Identification No.]

U01122PN1999PTC013907

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Trader, Exporter and Importer of Fresh Fruits.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 363000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

The company can be considered normal for 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.

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

 

INFORMATION PARTED BY

 

Name :

Mr. Nasir Mohamedsafi Bagwan

Designation :

Director

Contact No.:

91-9422041911

Date :

03.10.2012

 

 

LOCATIONS

 

Registered Office/ Factory :

Gat No.154/2A+2B, Bagwan Agricultural Farm, Takli Road, Miraj - 416 410, District Sangli, Maharashtra, India

Tel. No.:

91-233-2222199/ 2228532

 

91-9422041911 (Mr. Nasir Mohamedsafi Bagwan)

Fax No.:

91-233-2223279

E-Mail :

chandfruit@yahoo.co.in

chandfruit@gmail.com

Area :

45000 sq ft

Location :

Owned

 

 

DIRECTORS

 

As on 12.09.2011

 

Name :

Mr. Shafi Ahmed Haji Chandsaheb Bagwan

Designation :

Director

Address :

2349, Guruwar Peth, Miraj, Sangli – 416 410, Maharashtra, India

Date of Birth/Age :

01.10.1949

Date of Appointment :

11.08.1999

DIN No.:

01825414

 

 

Name :

Mr. Nasir Mohamedsafi Bagwan

Designation :

Director

Address :

Bagwan Agri Farm, Takali Road, Miraj, Sangli – 416 410, Maharashtra, India

Date of Birth/Age :

12.05.1971

Date of Appointment :

11.08.1999

DIN No.:

01494663

 

 

Name :

Mr. Bashir Ahmed Shafi Bagwan

Designation :

Director

Address :

Takali Road, Bagwan Farm, Miraj, Sangli - 416 410, Maharashtra, India

Date of Birth/Age :

11.02.1976

Date of Appointment :

05.11.1999

DIN No.:

01657181

 

 

Name :

Mr. Yunus Ahmed Shafi Bagwan

Designation :

Director

Address :

2349, Guruwar Peth, Miraj, Sangli – 416 410, Maharashtra, India

Date of Birth/Age :

28.11.1973

Date of Appointment :

11.08.1999

DIN No.:

01662589

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 12.09.2011

 

Names of Shareholders

 

No. of Shares

 

Shafiahmed H. Bagwan

 

419300

Nasir M. Bagwan

 

46800

Yunus S. Bagwan

 

70000

Bashir S. Bagwan

 

40700

Total

 

576800

 

As on 12.09.2011

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Trader, Exporter and Importer of Fresh Fruits.

 

 

Products :

Item Code No. (ITC Code)

Fresh Fruits and Vegetables

Product Description

0204

 

 

Exports :

 

Products :

Fresh Fruits

Countries :

v  Gulf Countries

v  Dubai

v  Europe

 

 

Imports :

 

Products :

Fruits

Countries :

v  USA

v  Australia

v  China

v  Chile

 

 

Terms :

 

Selling :

Credit (30 days)

 

 

Purchasing :

Cash and Credit (90 days)

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Annual Licensed, Installed and Utilized Capacity

Cold Storage Pre-Cooling

Tonnes

650

Unit

Tonnes

20

 

Notes:

1. Annual capacity on maximum utilized basis.

2. Figures regarding total capacity utilized are not readily available.

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailer and End Users

 

v  Ebrahim Bin Alii Fruit and Vegetable Co, UAE

v  Golden Fruit Company LLC, UAE 

v  Grand Castle Trading Est., UAE

v  Jaleel Fruits and Vegetables Trading, UAE

v  Frutimport Co. Limited, Russia

v  Thamer Food Distribution Co. Limited, Saudi Arabia

v  Tamilnadu Electricity Board, India

 

 

No. of Employees :

20 (Approximately)

 

 

Bankers :

v  Industrial Development Bank of India, Shri Kurpa, C.S. No.4158/A, Near Maidan Datta Mandir, Bramin Puri, Near Maida,  Miraj – 416 410, Maharashtra, India

v  Bank of India

v  State Bank of India, Miraj

v  State Bank of India, Kolhapur

v  Solapur D.C.C. Bank, Solapur

v  Yashwant Sahakari Bank Limited

v  The Vita Merchant Co-Operative Bank Limited

v  Axis Bank, Miraj

 

 

Facilities :

Secured Loans

31.03.2011

Rs. In Millions

31.03.2010

Rs. In Millions

IDBI Bank PCFC Account for Rs.90.000 Millions

87.243

63.982

IDBI Term Loan (42 Months payback December-07)

0.000

8.902

Total

87.243

72.884

 

Note:

 

Packing Credit in Foreign Currency from IDBI Bank Limited is secured against the inward foreign currency remittances and also co secured against charge on the immovable properties of the company, both present and future and by way of hypothecation of all the movable assets situated at Gat No.154/2A/2+B, Takali Road, Miraj, Taluka Miraj, District Sangli and charge on plant and machinery.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Khire Khandekar and Kirloskar

Chartered Accountants

Address :

1051, Madhav Nagar Road, Sangli – 416 410, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AABFK5801G

 

 

Related Parties :

v  Bagban Trading Company, Miraj 

v  Chand Fruit Company, Miraj

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

650000

Equity Shares

Rs.10/- each

Rs.6.500 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

576800

Equity Shares

Rs.10/- each

Rs.5.768 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

5.768

5.768

5.768

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

84.960

52.480

31.557

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

90.728

58.248

37.325

LOAN FUNDS

 

 

 

1] Secured Loans

87.243

72.884

81.888

2] Unsecured Loans

0.000

0.000

4.403

TOTAL BORROWING

87.243

72.884

86.291

DEFERRED TAX LIABILITIES

0.000

0.000

1.211

 

 

 

 

TOTAL

177.971

131.132

124.827

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

52.079

61.379

70.073

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
85.565

28.089

29.849

 

Sundry Debtors
98.665

111.669

126.930

 

Cash & Bank Balances
18.845

15.975

15.952

 

Other Current Assets
20.077

6.842

4.213

 

Loans, Advances & Deposits

36.710

22.132

18.833

Total Current Assets
259.862

184.707

195.777

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
111.668

91.616

126.709

 

Other Current Liabilities
3.421

2.088

3.851

 

Provisions
18.881

21.250

10.463

Total Current Liabilities
133.970

114.954

141.023

Net Current Assets
125.892

69.753

54.754

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

177.971

131.132

124.827

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

600.370

547.048

454.952

 

 

Other Income

42.055

38.813

37.898

 

 

Profit from Electricity Generation

1.700

0.006

0.000

 

 

TOTAL                                    

644.125

585.867

492.850

 

 

 

 

 

Less

EXPENSES

 

 

 

Office Expenses

 

 

 

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

597.906

553.689

453.521

 

 

Depreciation

 

 

 

 

 

Financial Charges/ Interest

 

 

 

 

 

Loss from Electricity Generation

0.000

0.000

14.304

 

 

TOTAL                                    

597.906

553.689

467.825

 

 

 

 

 

 

PROFIT BEFORE TAX

46.219

32.178

25.025

 

 

 

 

 

Less

TAX                                                                 

13.739

11.254

6.910

 

 

 

 

 

 

PROFIT AFTER TAX

32.480

20.924

18.115

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F.O.B. Value of Exports

Dollar 13429278

Euro 69391

GBP 5030

Dollar 7797717

Euro 140933

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

56.31

36.27

NA

 

 

Particulars

 

 

 

31.03.2012

Sales Turnover (Approximately)

 

 

800.000

 

 

 

 

 

Expected Sales (2012-2013): Rs.1000.000 millions

 

The above information has been parted by Mr. Nasir Mohamedsafi Bagwan (Director).

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
5.04

3.57

3.68

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
7.70

5.88

5.50

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
14.82

13.08

9.41

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.51

0.55

0.67

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
2.44

3.22

6.09

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.94

1.61

1.39

 

 

LOCAL AGENCY FURTHER INFORMATION

 

DETAILS OF SUNDRY CREDITORS

 

Particulars

31.03.2011

(Rs. In Millions)

31.03.2010

(Rs. In Millions)

31.03.2009

(Rs. In Millions)

Sundry Creditors for goods and others

111.668

91.616

126.709

Total

111.668

91.616

126.709

 

PARTIAL DETAILS OF SUNDRY CREDITORS:

 

Particulars

31.03.2010

(Rs. In Millions)

Balasaheb Narhari Shinde

0.193

Bhagwan Govind Bidwai

0.382

Govindrao Genubhai Ghodekar

0.465

Kisan Banurao Kale

0.391

Ramchandra Baburao Kolhe

0.361

Sham  Bhau Kolhe

0.234

Swapnil Vishwanath Jadhav

0.444

Abhishek Sambhahji Hirve

0.037

Bhagwan Tukaram Khetmalis

1.313

Chand Abbas Ali Sheikh

0.042

 

 

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

Yes

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

Yes

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

31) Date of Birth of Proprietor/Partner/Director, if available

Yes

32) PAN of Proprietor/Partner/Director, if available

No

33) Voter ID No of Proprietor/Partner/Director, if available

No

34) External Agency Rating, if available

No

 

 


OPERATIONS:

 

The company expects a great response to the activity in the coming future. The Directors have taken steps for improving the quality and decided to give emphasis on marketing and to strengthen the internal controls. The focus during the year have been to continuous invest in improving the delivery practices and enhance the relationships with the customers to deliver higher value. The company is expecting to grow the business in the coming years.

 

Net sales and other income of the company increase to Rs.644.100 Millions form Rs.585.900 Millions in the previous year, which shows growth of 9.94%.

 

The Profit after tax for the current year is Rs.32.480 Millions as against Rs.20.924 Millions in the previous year.

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U01122PN1999PTC013907

Name of the company

CHAND FRUIT COMPANY PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

Gat No.154/2A+2B, Bagwan Agricultural Farm, Takli Road, Miraj - 416 410, District Sangli, Maharashtra, India

This form is for

Modification of Charge

Charge identification (ID) number of the charge to be modified

90092409

Type of charge

Book Debts

Movable Property (not being pledge)

Particular of charge holder

IDBI Bank Limited, Shri Kurpa, C.S. No.4158/A, Ne3ar Maidan Datta Mandir, Bramin Puri, Near Maida,  Miraj – 416 410, Maharashtra, India

amit.bhamare@idbi.com

Nature of instrument creating charge

1) Supplemental Deed of Hypothecation

2) Supplemental Facilities Agreement

(All the agreements executed for a single modification)

Date of instrument Creating the charge

24.02.2011

Amount secured by the charge

Rs.90.000 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest

BBR +1.75% or rate s may be prescribed by Bank from time to time

 

Terms of Repayment

Yearly review/ Renewal / Liquidation

 

Margin

25%

 

Extent and Operation of the charge

The mortgagor company created a registered  mortgage in respect of its immovable properties for repayment of Rs.90.000 Millions (PC/PCFC/FBP) sanctioned to Chand Fruit Company Private Limited with all interest, costs, expenses, charge commissions and all other moneys payable to the mortgage bank.

Short particulars of the property or asset(s) charged (including complete address and location of the property)

First charge on all current assets

Hypothecation of goods procured for export receivables.

First Charge on gross block of company (Excluding Wind Mill Project Land and Unit)

Equitable Mortgage of Agri Land and Gat No. 154/2A/2B at Miraj owned by Director of the company.

FDR of Rs.10.000 Millions

Date of instrument modifying the charge

24.04.2009

Particulars of the present modification

The PCFC limit is enhanced from Rs.70.000 Millions to Rs.90.000 Millions. The charge on hypothecated assets extended to secure the total facilities availed by the company.

 

FIXED ASSETS:

 

v  Building

v  Machinery and Installation

v  Electric Installation

v  D.G. Set

v  Other Assets

v  Furniture

v  Air Conditioner Machinery

v  EPBX Machine

v  Plastic Crates

v  Office Automation

v  Vehicles

v  Inkjet Printer

v  Mobile Handset

v  Pallet Truck (Hand Hydraulic)

v  Computer HCL PC

v  Cold Storage and Pack House Plant and Machinery

v  R.O. Plant

v  Suzlion – Land and Easment Rights

v  Road

v  Cladding

v  Ethy Ripe Generator

v  Fire Extinguisher Equipment

v  Weighing Bridge

v   

 

 

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 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 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 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.52.70

UK Pound

1

Rs.85.71

Euro

1

Rs.68.15

 

 

INFORMATION DETAILS

 

Information Gathered by :

SLP

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

46

 

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.