|
Report Date : |
23.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE FINANCIAL LIMITED |
|
|
|
|
Formerly Known
As : |
R TRADE FINANCIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
570, Rectifier House, Naigaum Cross Road, Next to Royal Industrial
Estate, Wadala, Mumbai – 400031, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.08.2005 |
|
|
|
|
Com. Reg. No.: |
11-155675 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.110.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH2005PLC155675 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Financial and related services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Reliance Group”. It is a well established and reputed company having a good track
record. There appears drastic dip in its sales and profitability during 2012. However, general financial strength seems to be good. There appears no
external borrowing. The company gets strong support from its holdings. Trade relations are reported to be fair. Business is a active. Payment
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Short term debt: A1+ |
|
Rating Explanation |
Having very strong degree of safety regarding timely payment of
financial obligation it carry lowest credit risk. |
|
Date |
November 2010 |
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 DECLINED
Management Non – Cooperative (91-22-30479400)
LOCATIONS
|
Registered Office : |
570, Rectifier House, Naigaum Cross Road, Next to Royal Industrial
Estate, Wadala, Mumbai – 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479400 |
|
Fax No.: |
91-22-30479450 |
|
E-Mail : |
DIRECTORS
As on 01.06.2012
|
Name : |
Mr. Amit Bapna |
|
Designation : |
Director |
|
Address : |
503, Purna Apartments, Sir Pockhanwala Road, Worli, Mumbai – 400030,
Maharashtra, India |
|
Date of Birth/Age : |
20.01.1975 |
|
Qualification: |
B.Com, ACA |
|
Date of Appointment : |
26.08.2005 |
|
DIN No.: |
00008443 |
|
|
|
|
Name : |
Mr. Lav Ramji Chaturvedi |
|
Designation : |
Director |
|
Address : |
403-04, Golden Rays, X Wing, Shastri Nagar, Mumbai – 400053, Maharashtra,
India |
|
Date of Birth/Age : |
20.07.1976 |
|
Qualification: |
B.Com, MBA, CFA |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
02859336 |
|
|
|
|
Name : |
Mr. Sanjay Tulsio Wadhwa |
|
Designation : |
Director |
|
Address : |
H-802, 8th Floor, Royal Fern Great, Eastern Garden, LBS
Marg, Kanjur Marg, Mumbai – 400078, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1973 |
|
Date of Appointment : |
25.04.2012 |
|
DIN No.: |
0339219 |
KEY EXECUTIVES
|
Name : |
Mr. Dipak Kumar Shah |
|
Designation : |
Manager |
|
Address : |
302, A Wing, Plot No. 42, Shreeji Seva, Sector – 42, Newul (West),
Navi Mumbai – 400706, Maharashtra, India |
|
Date of Birth/Age : |
03.09.1966 |
|
Date of Appointment : |
04.03.2009 |
|
PAN No.: |
AFXPS1752B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Reliance Capital Limited, India |
|
10999930 |
|
Reliance Capital Limited Jointly with Mr. V R Mohan |
|
10 |
|
Reliance Capital Limited Jointly with Mr. Yogesh Deshpande |
|
10 |
|
Reliance Capital Limited Jointly with Mr. Amit Bapna |
|
10 |
|
Reliance Capital Limited Jointly with Mr. Neeraj Dwivedi |
|
10 |
|
Reliance Capital Limited Jointly with Ms. Parul Jaim |
|
10 |
|
Reliance Capital Limited Jointly with Mr. Dipak K Shah |
|
10 |
|
Reliance Capital Limited Jointly with Mr. Chetan Raval |
|
10 |
|
|
|
|
|
Total |
|
11000000 |
Equity Share Break up (Percentage of Total Equity)
As on 01.06.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Financial and related services. |
||||||
|
|
|
||||||
|
Products / Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Ultimate Holding company: |
·
Reliance Innoventures Private Limited, India CIN: U73100MH2005PTC158356 ·
Reliance Capital Limited ((Up to December 28,
2010)) |
|
|
|
|
Holding company: |
·
Reliance Capital Limited, India ((W.e.f. December
29 2010)) CIN: L65910MH1986PLC165645 ·
Reliance Securities Limited, India CIN: U65990MH2005PLC154052 |
|
|
|
|
Fellow subsidiaries: |
·
Reliance Capital Asset Management Company Limited ·
Reliance Investment Banking Services Limited ·
Quant Broking Private Limited ·
Quant Securities Private Limited ·
Quant Commodities Private Limited ·
Quant Commodity Broking Private Limited ·
Quant Capital Finance and Investments Private
Limited ·
Reliance Equity Advisors (India) Limited |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives: |
·
Reliance Money Infrastructure Limited, India CIN: U67120MH2006PLC160589 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs. 110.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
110.000 |
110.000 |
|
(b) Reserves & Surplus |
|
311.469 |
294.183 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
421.469 |
404.183 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.00 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
5.077 |
4.978 |
|
(c) Other current
liabilities |
|
12.829 |
15.920 |
|
(d) Short-term provisions |
|
0.931 |
0.178 |
|
Total Current Liabilities (4) |
|
18.837 |
21.076 |
|
|
|
|
|
|
TOTAL |
|
440.306 |
425.259 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.055 |
0.040 |
|
Total Non-Current Assets |
|
0.055 |
0.040 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
180.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
24.446 |
142.248 |
|
(e) Short-term loans and
advances |
|
415.789 |
102.365 |
|
(f) Other current assets |
|
0.016 |
0.606 |
|
Total Current Assets |
|
440.251 |
425.219 |
|
|
|
|
|
|
TOTAL |
|
440.306 |
425.259 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
110.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
168.454 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
278.454 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
108.500 |
|
|
TOTAL BORROWING |
|
|
108.500 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
386.954 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.003
|
|
|
Cash & Bank Balances |
|
|
2.978
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
401.371
|
|
Total
Current Assets |
|
|
404.352
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2.843
|
|
|
Other Current Liabilities |
|
|
14.555
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
17.398
|
|
|
Net Current Assets |
|
|
386.954
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
386.954 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
40.624 |
244.278 |
331.073 |
|
|
|
Other Income |
18.408 |
28.972 |
8.896 |
|
|
|
TOTAL (A) |
59.032 |
273.250 |
339.969 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other expenses |
28.780 |
116.988 |
|
|
|
|
TOTAL (B) |
28.780 |
116.988 |
164.278 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
30.252 |
156.262 |
175.691 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.252 |
156.262 |
175.691 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
30.252 |
156.262 |
175.691 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.965 |
30.533 |
57.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
17.287 |
125.729 |
118.376 |
|
|
|
|
|
|
|
|
|
Less |
Transfer to Special
Reserve under section 45-IC of the Reserve Bank of India Act,1934 |
3.457 |
25.146 |
23.675 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
235.440 |
134.857 |
40.156 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
249.270 |
235.440 |
134.857 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.57 |
11.43 |
10.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
29.28
|
46.01 |
34.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
74.47
|
63.97 |
53.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.87
|
36.75 |
43.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.39 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
23.37
|
20.18 |
23.24 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
NOTE:
·
No Charges Exist for Company
·
Registered office of the
company has been shifted from 4th Floor, Parijat House, Manjrekar
Lane, Off Dr. E Moses Road, Worli Naka, Mumbai – 400018, Maharashtra, India to the present address w.e.f 12.07.2010
BACKGROUND
Reliance Financial Limited was incorporated on 26 August 2005. The
Company is licensed by the Reserve Bank of India to Act as a Non-banking
financial company
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Guarantees given by scheduled banks on
behalf of the Company towards Security deposit in favour of VAT Authorities of
4 States |
0.350 |
|
|
|
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 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.
9 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.59.69 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
54 |
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.