|
Report Date : |
26.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SEW ENGINEERING
(INDIA) PRIVATE LIMITED (w.e.f. 02.12.2010) |
|
|
|
|
Formerly Known
As : |
SEW ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
104, Hanuman
Industrial Estate, 42, G.D. Ambedkar Road, Wadala, Mumbai – 400 031,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.03.1998 |
|
|
|
|
Com. Reg. No.: |
11-113861 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.045
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100MH1998PTC113861 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS38133E |
|
|
|
|
TIN No.: |
27390000752 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS4827L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the business of Contracting of Electricals Work. |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 865000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There
appears a dip in the turnover and profitability of the company. However, networth appears to be satisfactory. Trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct and as per commitment. 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
|
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 (GENERAL DETAILS)
|
Name : |
Mr. Akhtar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-61359200 |
|
Date : |
23.02.2013 |
LOCATIONS
|
Registered Office : |
104, Hanuman
Industrial Estate, 42, G.D. Ambedkar Road, Wadala, Mumbai – 400 031,
Maharashtra, India |
|
Tel. No.: |
91-22-66606818 |
|
Fax No.: |
91-22-66606818 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
302, Rustomjee Aspiree, Bhanu Shankar Yagnik Marg, Off Eastern Express
Highway, Sion (East), Mumbai – 400 022, Maharashtra, India |
|
Tel. No.: |
91-22-61359200 |
|
Fax No.: |
91-22-61359201 |
|
|
|
|
Branch Office : |
Located at: ·
Mumbai ·
Pune ·
Hyderabad ·
Bangalore ·
Goa |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Firdaus Homi Masani |
|
Designation : |
Managing Director |
|
Address : |
Vakil Building, 683-A, Khareghat Road, Parsi Colony, Dadar, Mumbai –
400 014, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1957 |
|
Date of Appointment : |
06.03.1998 |
|
DIN No.: |
00151797 |
|
PAN No.: |
AADPM5534G |
|
|
|
|
Name : |
Mrs. Farida Firdaus Masani |
|
Designation : |
Director |
|
Address : |
Vakil Building, 683-A, Khareghat Road, Parsi Colony, Dadar, Mumbai –
400 014, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1954 |
|
Date of Appointment : |
23.03.1998 |
|
DIN No.: |
00151648 |
|
PAN No.: |
AAUPM3811B |
|
|
|
|
Name : |
Ms. Kaniaz Firdaus Masani |
|
Designation : |
Director |
|
Address : |
Vakil Building, 683-A, Khareghat Road, Parsi Colony, Dadar, Mumbai –
400 014, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1983 |
|
Date of Appointment : |
10.09.2001 |
|
DIN No.: |
00151882 |
|
PAN No.: |
AFVPM0099R |
|
|
|
|
Name : |
Ms. Shahnaz Firdaus Masani |
|
Designation : |
Director |
|
Address : |
Vakil Building, 683-A, Khareghat Road, Parsi Colony, Dadar, Mumbai –
400 014, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1985 |
|
Date of Appointment : |
22.01.2004 |
|
DIN No.: |
00151999 |
|
PAN No.: |
AJKPM3098B |
|
|
|
|
Name : |
Mr. Amit Nalinkant Dalal |
|
Designation : |
Director |
|
Address : |
81, Sherman, 22, Narayan Dhabolkar Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
31.01.1963 |
|
Date of Appointment : |
17.04.2008 |
|
DIN No.: |
00297603 |
|
|
|
|
Name : |
Mr. Bharat Shantilal Sanghavi |
|
Designation : |
Director |
|
Address : |
B-403, Nilesh Apartments, Haridas Nagar, Shimpoli Road, Borivali
(West), Mumbai – 400 092, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1955 |
|
Date of Appointment : |
04.08.2010 |
|
DIN No.: |
00046906 |
|
|
|
|
Name : |
Mr. Vinaykumar Navnitrai Pandya |
|
Designation : |
Director |
|
Address : |
401/402, Royal Enclave Society, Gurukul Road, Chala, Vapi – 396 191,
Gujarat, India |
|
Date of Birth/Age : |
08.12.1965 |
|
Date of Appointment : |
04.08.2010 |
|
DIN No.: |
00171504 |
KEY EXECUTIVES
|
Name : |
Mr. Akhtar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Firdaus Homi Masani and Farida Firdaus Masani |
|
1419366 |
|
Farida Firdaus Masani and Firdaus Homi Masani |
|
470700 |
|
Kaniaz Firdaus Masani and Firdaus Homi Masani |
|
418550 |
|
Shahnaz Firdaus Masani and Farida Firdaus Masani |
|
418550 |
|
K.K. Chandran |
|
10008 |
|
Basavaraj S. Bansode |
|
10002 |
|
Mukhtar G. Shaikh |
|
10002 |
|
Shreekanth H. Dhari |
|
9996 |
|
Chandrashekhar R. Dasappanavar |
|
9996 |
|
Peninsula Land Limited, India |
|
989300 |
As on 27.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
27.00 |
|
Directors
or relatives of directors |
|
71.68 |
|
Other
top fifty shareholders |
|
1.31 |
|
Others
|
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of Contracting of Electricals Work. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users, Corporate and Individuals · Saifee Hospital · Peninsula Land Limited · Sheth Developers · Zensar Technologies · The Kalpataru Group · IMAX Adlabs · Keystone Realtors (Rustomjee) 3 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
120 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Bank of India,
Mumbai Mid Corporate, 70/80, M.G. Road, Bank of India Building, Mezzanine
Floor, Fort, Mumbai – 400 001, Maharashtra, India |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
AP and Company Chartered Accountants |
|
Address : |
512-A, Rewa Chambers, 31, Sir Vithaldas Thackersey Marg, New Marine
Lines, Mumbai – 400 028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFA6366R |
|
|
|
|
Associates : |
·
Peninsula Land Limited, India (CIN No.: L17120MH1871PLC000005)
·
Peninsula Facility Management Services Limited,
India (CIN No.: U55101MH1999PLC118542) ·
Peninsula Mega Township Developers Private
Limited, India (CIN No.: U70200MH2007PTC167082) |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
·
Electrical Works, India ·
Packwell Equipments, India ·
System Product Enterprises (India) Private
Limited, India (CIN No.: U74999MH2003PTC141171) ·
Telematics Integrated Solutions Private Limited,
India (CIN No.: U72900MH2008PTC181621) |
CAPITAL STRUCTURE
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3804520 |
Equity Shares |
Rs.10/- each |
Rs.38.045
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
38.045 |
38.045 |
38.045 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
178.212 |
169.492 |
106.744 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
216.257 |
207.537 |
144.789 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
162.254 |
124.858 |
21.013 |
|
|
2] Unsecured Loans |
40.104 |
29.476 |
10.000 |
|
|
TOTAL BORROWING |
202.358 |
154.334 |
31.013 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
418.615 |
361.871 |
175.802 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.905 |
18.297 |
15.735 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
2.242 |
2.061 |
0.819 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
170.705
|
130.673 |
40.621 |
|
|
Sundry Debtors |
645.734
|
532.477 |
339.084 |
|
|
Cash & Bank Balances |
32.992
|
27.572 |
15.807 |
|
|
Other Current Assets |
0.000
|
0.056 |
0.000 |
|
|
Loans & Advances |
150.187
|
143.464 |
86.144 |
|
Total
Current Assets |
999.618
|
834.242 |
481.656 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
528.850
|
387.820 |
198.341 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
58.488 |
|
|
Provisions |
72.300
|
104.909 |
65.691 |
|
Total
Current Liabilities |
601.150
|
492.729 |
322.520 |
|
|
Net Current Assets |
398.468
|
341.513 |
159.136 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.112 |
|
|
|
|
|
|
|
|
TOTAL |
418.615 |
361.871 |
175.802 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
772.730 |
1008.240 |
555.299 |
|
|
|
Other Income |
3.619 |
3.961 |
1.954 |
|
|
|
TOTAL |
776.349 |
1012.201 |
557.253 |
|
|
|
|
|
|
|
|
Less |
EXPENDITURE
INCLUDING INTEREST AND DEPRECIATION |
761.111 |
883.524 |
493.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
15.238 |
128.677 |
63.847 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.518 |
43.820 |
22.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.720 |
84.857 |
40.963 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
135.568 |
72.819 |
45.209 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
0.000 |
19.022 |
11.413 |
|
|
|
Tax on Dividends |
0.000 |
3.086 |
1.940 |
|
|
BALANCE CARRIED
TO THE B/S |
144.288 |
135.568 |
72.819 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.29 |
22.30 |
10.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.12
|
8.38 |
7.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.97
|
12.76 |
11.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.50
|
15.09 |
12.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.62 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.94
|
0.74 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.69 |
1.49 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
528.850
|
387.820 |
198.341 |
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
No |
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
34.500 |
27.000 |
|
Loans and advances from others |
5.604 |
2.476 |
|
Total
|
40.104 |
29.476 |
OPERATING BUSINESS AND RESULTS:
Company has
achieved Total Income of 776.349 millions during the year as against 1012.201
millions during the previous year representing a decrease of 30%. The net
profit after tax stood at 8.720 millions compared to 84.857 millions.
The performance
during the financial year was not as per the expectation because of extraneous
factors beyond the control of management. The Company had sufficient orders in
hand and had target of total sales of 1500.000 millions. The actual performance
against this was total sales of Rs.772.730 millions. Over all 2011-12 has been
a very satisfying year.
FIXED ASSETS:
·
Buildings
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.54.04 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.