MIRA
INFORM REPORT
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HEMPEL PAINTS ( |
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|
|
|
Registered
Office : |
Safal Pride, 502, 5th Floor, Near Oasis Restaurant, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
17.02.2009 |
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Com. Reg. No.: |
11-195861 |
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Capital
Investment / Paid-up Capital : |
Rs.200.000 Millions |
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CIN No.: [Company Identification
No.] |
U74990MH2009PTC195861 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH12380E |
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PAN No.: [Permanent Account No.] |
AACCH2681P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of Globic Antifouling Products and
Paints. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appears huge accumulated losses recorded by the company. The liquidity
position is weak. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with great
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.
LOCATIONS
|
Registered Office/ Factory 1 : |
Safal Pride, 502, 5th Floor, Near Oasis Restaurant, |
|
Tel. No.: |
91-22-61392555/2559910 |
|
Fax No.: |
91-22-25559913 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. ft. |
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Location : |
Owned |
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Factory 2 : |
Located at Nashik |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Umesh Chandra Singh |
|
Designation : |
Director |
|
Address : |
Flat No.164, Yugdharma, Co- Operative Housing Society, Link Road,
Malad, Mumbai - 400 064, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1962 |
|
Date of Appointment : |
15.07.2010 |
|
DIN No.: |
02510842 |
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|
|
|
Name : |
Mr. Kim Junge Andersen |
|
Designation : |
Director |
|
Address : |
Hempel A/S, Lundtoftevej, 150, Kongens
Lyngby,2800, Denmark |
|
Date of Birth/Age : |
26.11.1962 |
|
Date of Appointment : |
02.07.2010 |
|
DIN No.: |
02844744 |
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|
|
|
Name : |
Mr. Sasi Kumar Puthenpurackal Bhaskaran Nair |
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Designation : |
Director |
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Address : |
Akash Leela Chs, Flat No. C/202, Plot No156/158, Sec-21, Nerul, Navi
Mumbai, Maharashtra, India |
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Date of Birth/Age : |
29.11.1954 |
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Date of Appointment : |
02.07.2010 |
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DIN No.: |
02896312 |
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|
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Name : |
Mr. Pierre Yves Jullien |
|
Designation : |
Director |
|
Address : |
Alhambrave 3,2, 1826, Frederiksbergc, |
|
Date of Birth/Age : |
25.05.1950 |
|
Date of Appointment : |
02.07.2010 |
|
DIN No.: |
02925809 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hempel (Singapore) Pte Limited, Singapore |
|
19999999 |
|
Hempel A/S Denmark, Lyngby Denmark |
|
01 |
|
Total |
|
20000000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Globic Antifouling Products and
Paints. |
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Products : |
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GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
HSBC Bank, Chembur Branch, Mumbai, Maharashtra, India Tel. No.: 91-9820282220 |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
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PAN.: |
AABFL5878L |
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Ultimate Holding
Company: |
Hempel A/S Denmark |
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Holding Company : |
Hempel Singapore Pte Limited |
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Other related
parties with whom transactions have taken place during the year : |
· Hempel Paints (Emirates) L.L.C. · Pinturas Hempel S.A · Hempel (Portugal) Lda. · Hempel (UK) Limited · Hempel Paints (Saudi) · Hempel (France) S.A · Hempel Coatings (Hellas) S.A. · Hempel (Germany) GmbH · Hempel Coatings SAN. VE TIC Limited. Sti. · Hempel HAI-HONG (China) Limited · Hempel Coatings (Cyprus) Limited · Hempel (Italy) s.r.l. · Hempel (Taiwan) Company Limited · Hempel (The Netherlands) B.V. · Hempel Korea Company Limited · Hempel Paints (Qatar) W.L.L. · Hempel Vietnam Company Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital : Rs.400.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.400.000
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
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Reconciliation of
number of equity shares
|
Particular |
Number of shares |
Rs. In Millions |
|
Balance as at the beginning of the year |
20000000 |
200.000 |
|
Additions/ (Deletions) during the year |
-- |
-- |
|
Balance as at the end of the year |
20000000 |
200.000 |
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Hempel Singapore Pte Limited |
1,99,99,999 |
100.00% |
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|
Terms attached to
equity shares:
Equity Shares: The company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
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 |
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|
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(a) Share Capital |
|
200.000 |
200.000 |
|
(b) Reserves & Surplus |
|
(138.227) |
(32.551) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
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|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
61.773 |
167.449 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.425 |
0.552 |
|
Total Non-current Liabilities (3) |
|
1.425 |
0.552 |
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(4) Current Liabilities |
|
|
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(a) Short term
borrowings |
|
51.279 |
0.000 |
|
(b) Trade payables |
|
185.701 |
98.208 |
|
(c) Other current liabilities |
|
10.817 |
4.597 |
|
(d) Short-term provisions |
|
0.210 |
0.607 |
|
Total Current Liabilities (4) |
|
248.007 |
103.412 |
|
|
|
|
|
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TOTAL |
|
311.205 |
271.413 |
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II. ASSETS |
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(1) Non-current assets |
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|
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(a) Fixed Assets |
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|
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(i) Tangible assets |
|
36.032 |
9.312 |
|
(ii) Intangible Assets |
|
0.082 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
31.616 |
|
(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 |
|
4.823 |
7.130 |
|
(e) Other Non-current assets |
|
0.060 |
0.060 |
|
Total Non-Current Assets |
|
40.997 |
48.118 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
116.373 |
46.418 |
|
(c) Trade receivables |
|
138.182 |
58.447 |
|
(d) Cash and cash
equivalents |
|
0.019 |
114.795 |
|
(e) Short-term loans
and advances |
|
15.629 |
3.250 |
|
(f) Other current
assets |
|
0.005 |
0.385 |
|
Total Current Assets |
|
270.208 |
223.295 |
|
|
|
|
|
|
TOTAL |
|
311.205 |
271.413 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
0.100 |
|
|
|
|
|
|
|
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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 |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.075 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.075 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.011 |
|
Total
Current Liabilities |
|
|
0.011 |
|
|
Net Current Assets |
|
|
0.064 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.036 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
NA |
NA |
NA |
|
|
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Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(105.676) |
(32.537) |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(105.676) |
(32.537) |
(0.014) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(32.551) |
(0.014) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS)
CARRIED TO THE B/S |
(138.227) |
(32.551) |
(0.014) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.262 |
0.685 |
NA |
|
|
TOTAL EARNINGS |
4.262 |
0.685 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
3.258 |
NA |
|
|
|
Traded Goods |
NA |
0.057 |
NA |
|
|
|
Capital Goods |
NA |
0.004 |
NA |
|
|
TOTAL IMPORTS |
NA |
3.319 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.04) |
(5.04) |
(1.36) |
|
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%20PRIVATE%20LIMITED%20-%20227005%2026-Jun-2013_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20227005%2026-Jun-2013_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.96)
|
(13.57) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.71)
|
(0.91) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.83
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
2.16 |
6.82 |
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 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
No |
|
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 |
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 |
Note:
Registered office of the company has been shifted from
BACKGROUND
Subject was incorporated on September 17, 2009. The Company trades and Manufactures Industrial paints in India.
REVIEW OF OPERATIONS
During the year, the Company has made loss of Rs.105.676 Millions as against Rs.32.537 Millions in previous financial year. Directors are continuously looking for avenues for future growth of the Company in Industrial Paint market.
CONTINGENT
LIABILITIES:
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
Guarantees given by banks to third parties on behalf of the Company |
0.060 |
0.060 |
|
Guarantee given by bank on behalf of the Company in the normal course of business against which the Company the not received any claims from the beneficiaries. |
1.645 |
-- |
FIXED ASSETS
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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 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.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
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 |
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 |
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 |
|
27 |
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.