MIRA INFORM REPORT
|
Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNISTEEL AND ENGINEERING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Alankar Theatre Building, Room No. 17/18, 3rd Floor,
245/247, SVP Road, Mumbai-400004, Maharashtra
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
17.11.1995 |
|
|
|
|
Com. Reg. No.: |
11-94565 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.0.795
Million |
|
|
|
|
CIN No.: [Company
Identification No.] |
U28920MH1995PTC094565 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAAC42274M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Trader, Exporter and Importer of Ferrous and Non Ferrous Metals. |
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|
|
|
No. of
Employees: |
15 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 49000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. Eventhough the company has seen a better growth in its sales turnover,
the profit margin appears to be low. External borrowings seems to be huge during
2012. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Pukhraj Malaji Shah |
|
Designation : |
Director |
|
Contact No.: |
91-22-665953169 |
|
Date : |
25.07.2013 |
LOCATIONS
|
Registered / Corporate Office : |
Alankar Theatre Building, Room No. 17/18, 3rd Floor, 245/247,
SVP Road, Mumbai-400004, Maharashtra |
|
Tel. No.: |
91-22-66595316 |
|
Fax No.: |
91-22-23864507 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Warehouse 1 : |
52/52-A, Islampura Street, Near Alaankar Cinema, Mumbai-400004,
Maharashtra, India |
|
Tel. No.: |
91-22-23817333/23806452/66394950/67438348 |
|
Fax No.: |
91-22-23864507 |
|
|
|
|
Warehouse 2 : |
Plot No. 1108, Kalmobli District Raigad, Maharashtra, India |
|
Area : |
2700 Sq. Fts |
|
Location : |
Owned |
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Kishor Pukhraj Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
15.08.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
12.06.1996 |
|
PAN No.: |
AAFPS4137B |
|
DIN No.: |
00712137 |
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|
|
|
Name : |
Mr. Pukhraj Malaji Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
05.03.1949 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.11.1995 |
|
PAN No.: |
AQRPS7519R |
|
DIN No.: |
00712081 |
|
|
|
|
Name : |
Mr. Sachin Pukhraj Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
20.09.1976 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
17.11.1995 |
|
PAN No.: |
AAFPS4136A |
|
DIN No.: |
01568346 |
|
|
|
|
Name : |
Mrs. Gayatri Pukhraj Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.02.1968 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.12.2003 |
|
PAN No.: |
AFDPS4243P |
|
DIN No.: |
01568303 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sachin Pukhraj Shah |
|
500 |
|
Pukhraj M. Shah |
|
520 |
|
Sumermal M. Shah |
|
510 |
|
Kishore Pukhraj Shah |
|
5750 |
|
Ritesh S. Shah |
|
500 |
|
Pukhraj M. Shah (HUF) |
|
10 |
|
Chunilal M. Shah |
|
10 |
|
Kiran C. Parmar |
|
10 |
|
Saytidevi P. Shah |
|
10 |
|
Pankhiben S. Shah |
|
10 |
|
Gayatri Pukhraj Shah |
|
10 |
|
Sumermal M. Shah (HUF) |
|
10 |
|
Rajendra Zuting |
|
10 |
|
Anita N. Doshi |
|
10 |
|
Uttam Gems |
|
10 |
|
Bhavrlal Dhanji Shah |
|
10 |
|
Rinku S. Shah |
|
10 |
|
Rachna S. Shah |
|
10 |
|
Manjulaben N. Shah |
|
10 |
|
Keshiben M. Shah |
|
10 |
|
Shree Nakoda Exports |
|
10 |
|
Shilpa S. Shah |
|
10 |
|
|
|
|
|
Total |
|
7950 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Ferrous and Non Ferrous Metals. |
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Products : |
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Exports : |
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Products : |
Ferrous and Non Ferrous Metals |
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Countries : |
UAE |
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Imports : |
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Products : |
Ferrous and Non Ferrous Metals |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers: |
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Customers : |
End Users and OEMs
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No. of Employees : |
15 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
I.C. Surana and Company Chartered Accountants |
|
Address : |
2nd Floor, Kothari Building, 25, Abdul Rehman Street,
Mumbai-400003, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADPS9679J |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7950 |
Equity Shares |
Rs.100/- each |
Rs.0.795
Million |
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 |
|
0.795 |
0.795 |
|
(b) Reserves & Surplus |
|
11.427 |
8.202 |
|
(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) |
|
12.222 |
8.997 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
57.140 |
46.332 |
|
(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) |
|
57.140 |
46.332 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
90.946 |
0.000 |
|
(c) Other
current liabilities |
|
16.608 |
0.000 |
|
(d) Short-term
provisions |
|
1.840 |
86.381 |
|
Total Current
Liabilities (4) |
|
109.394 |
86.381 |
|
|
|
|
|
|
TOTAL |
|
178.756 |
141.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
3.849 |
3.636 |
|
(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 |
0.00 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
3.849 |
3.636 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
1.349 |
1.785 |
|
(b)
Inventories |
|
34.799 |
22.699 |
|
(c) Trade
receivables |
|
132.857 |
101.391 |
|
(d) Cash
and cash equivalents |
|
1.116 |
1.193 |
|
(e)
Short-term loans and advances |
|
4.485 |
11.006 |
|
(f) Other
current assets |
|
0.301 |
0.000 |
|
Total
Current Assets |
|
174.907 |
138.074 |
|
|
|
|
|
|
TOTAL |
|
178.756 |
141.710 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.795 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6.021 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6.816 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1.096 |
|
|
2] Unsecured Loans |
|
|
38.619 |
|
|
TOTAL BORROWING |
|
|
39.715 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
46.531 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.813 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3.904 |
|
|
Sundry Debtors |
|
|
111.984 |
|
|
Cash & Bank Balances |
|
|
0.283 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
8.340 |
|
Total
Current Assets |
|
|
124.511 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
67.133
|
|
|
Other Current Liabilities |
|
|
12.893
|
|
|
Provisions |
|
|
0.767
|
|
Total
Current Liabilities |
|
|
80.793 |
|
|
Net Current Assets |
|
|
43.718 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
46.531 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
413.100 |
351.800 |
299.400 |
|
|
|
Other Income |
2.056 |
0.180 |
0.241 |
|
|
|
TOTAL |
415.156 |
351.980 |
299.641 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
410.488 |
348.824 |
296.798 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
410.488 |
348.824 |
296.798 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.668 |
3.156 |
2.843 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.443 |
0.975 |
0.878 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.225 |
2.181 |
1.965 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
406.00 |
274.00 |
196.000 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
440.000 |
Expected Sales (2013-2014): Rs.500.000 Millions
The above information has been parted / denied by Mr. Pukhraj Malaji
Shah (Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.78
|
0.62 |
0.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.13
|
0.90 |
0.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.61
|
2.22 |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.35 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.68
|
5.15 |
5.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.60 |
5.83 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
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 |
Yes |
Note: Registered office of the company has been
shifted from 52/52-A, Islampura Street, Near Alaankar Cinema, Mumbai-400004,
Maharashtra, India to the present address
w.e.f 15.07.2011
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
From Directors and Others |
49.150 |
44.579 |
|
|
|
|
|
Total |
49.150 |
44.579 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10279014 |
18/04/2012 * |
35,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT,
MUMBAI, MAHARASHTRA - 400021, INDIA |
B37677275 |
* Date of charge modification
FIXED ASSETS:
- Air Conditioner
- Computer
- CC TV
- Fan
- Fax Machine
- Furniture and Fixture
- Mobile Telephone
- Motor Car
- Motor Cycle
- Telephone System
- Warehouse
- Weight Scale
- Hand Cart
- Refrigerator
- Water Purifier
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.
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.