MIRA INFORM REPORT
|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CABCON INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4-A, Pollock Street, Sawaika Centre, Ground Floor, Room No. 21,
Kolkata – 700001, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.02.1991 |
|
|
|
|
Com. Reg. No.: |
21-050809 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.396
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200WB1991PTC050809 |
|
|
|
|
IEC No.: |
0200014811 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALC02131D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC2164P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of AAC, AAAC, ACSR Conductors, Aluminium / Alloy Wire and Ground Wire. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 860000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears huge external borrowings recorded which seems to be increasing over years.
However, trade relations are reported as fair. Business is active. Payments
are reported to be 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit: A4+ |
|
Rating Explanation |
Minimal degree of safety it carry high credit risk |
|
Date |
January, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit: BB- |
|
Rating Explanation |
Moderate degree of safety |
|
Date |
January, 2013 |
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 : |
4-A, Pollock Street, Sawaika Centre,
Ground Floor, Room No. 21, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22355657/ 22356798 |
|
Fax No.: |
91-33-22158065 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Shree Ballabh Fomra |
|
Designation : |
Director |
|
Address : |
FE – 515, Salt Lake, Kolkata – 700091, West Bengal, India |
|
Date of Birth/Age : |
18.07.1943 |
|
Date of Appointment : |
14.02.2005 |
|
PAN No.: |
AADPF1618C |
|
DIN No.: |
00633436 |
|
|
|
|
Name : |
Mr. Madan Mohan Fomra |
|
Designation : |
Director |
|
Address : |
FE – 515, Salt Lake, Kolkata – 700091, West Bengal, India |
|
Date of Birth/Age : |
16.10.1966 |
|
Date of Appointment : |
01.02.1991 |
|
PAN No.: |
AADPF8390H |
|
DIN No.: |
00633292 |
|
|
|
|
Name : |
Mr. Vijay Kumar Fomra |
|
Designation : |
Director |
|
Address : |
FE – 515, Salt Lake, Kolkata – 700091, West Bengal, India |
|
Date of Birth/Age : |
02.10.1968 |
|
Date of Appointment : |
25.11.1993 |
|
PAN No.: |
AADPF3739J |
|
DIN No.: |
00633315 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Madan Mohan Fomra |
|
16340 |
|
Rashmi Fomra |
|
34200 |
|
Raj Kumar Fomra |
|
83000 |
|
Shanti Prasad Fomra |
|
303200 |
|
Vijay Kumar Fomra |
|
18380 |
|
Panabai Fomra |
|
200200 |
|
Sanjeev Kumar Binani |
|
20120 |
|
Mukundlal Rathi |
|
20 |
|
Sashikala Fomra |
|
26000 |
|
Manish Kumar Fomra |
|
106000 |
|
S B Fomra HUF |
|
33000 |
|
Panabai Fomra and Madan Mohan Fomra |
|
25000 |
|
Panabai Fomra and Vijay Kumar Fomra |
|
40000 |
|
Chandra Kanta Lakhotia |
|
20 |
|
Jayhree Gandhi |
|
20 |
|
Priyanka Gandhi |
|
20 |
|
Swati Gandhi |
|
20 |
|
Radhika Fomra |
|
4000 |
|
Siddharth Fomra |
|
4000 |
|
Saroj Rathi |
|
40020 |
|
Renu Kothari |
|
20 |
|
M M Fomra (HUF) |
|
145020 |
|
V K Fomra HUF |
|
145020 |
|
Rashmi Binani |
|
12000 |
|
Priti Fomra |
|
21000 |
|
Ram Prakash Dujari |
|
60000 |
|
Amit Mohta |
|
68300 |
|
Sarala Devi Mohta |
|
30000 |
|
Shree Ballabh Fomra |
|
6400 |
|
Manro Finance and Traders (Private) Limited, India |
|
433300 |
|
Balgopal Commodeal Private Limited, India |
|
350000 |
|
Bhavsagar Commodities Private Limited, India |
|
400000 |
|
M K Forma (HUF) |
|
10000 |
|
Nikhita Fomra |
|
5000 |
|
Total |
|
2639620 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
44.83 |
|
Directors or relatives of Directors |
46.44 |
|
Other top fifty shareholders |
8.73 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of AAC, AAAC, ACSR Conductors, Aluminium /
Alloy Wire and Ground Wire. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Canara Bank , L C Road Branch, 9 Lala lajpat Rai Sarani, Kolkata – 700020, West Bengal, India · Canara Bank , Prime Corporate Branch, 21 CAMAC Street, Ground Floor, Kolkata – 700017, West Bengal, India
|
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Jai Pandya and Associates Chartered Accountant |
|
Address : |
36, Strand Road, 3rd Floor, Kolkata – 700001, West Bengal, India |
|
PAN No.: |
AFHPP8788C |
CAPITAL STRUCTURE
As on 31.03.2012
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 |
|
|
|
|
|
|
2639620 |
Equity Shares |
Rs.10/- each |
Rs. 26.396 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 |
26.396 |
21.396 |
21.396 |
|
|
2] Share Application Money |
0.000 |
20.000 |
0.000 |
|
|
3] Reserves & Surplus |
187.415 |
118.681 |
105.979 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
213.811 |
160.077 |
127.375 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
262.839 |
156.108 |
93.114 |
|
|
2] Unsecured Loans |
151.848 |
128.527 |
96.898 |
|
|
TOTAL BORROWING |
414.687 |
284.635 |
190.012 |
|
|
DEFERRED TAX LIABILITIES |
2.574 |
2.290 |
1.965 |
|
|
|
|
|
|
|
|
TOTAL |
631.072 |
447.002 |
319.352 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
51.996 |
53.928 |
45.673 |
|
|
Capital work-in-progress |
29.069 |
0.000 |
3.770 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
102.628
|
128.306
|
30.867 |
|
|
Sundry Debtors |
745.129
|
438.766
|
384.572 |
|
|
Cash & Bank Balances |
144.332
|
145.672
|
43.944 |
|
|
Other Current Assets |
0.720
|
0.121
|
3.284 |
|
|
Loans & Advances |
103.226
|
111.221
|
26.251 |
|
Total
Current Assets |
1096.035
|
824.086
|
488.918 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
361.648
|
216.847
|
193.917 |
|
|
Other Current Liabilities |
159.410
|
201.197
|
18.298 |
|
|
Provisions |
24.970
|
12.968
|
6.965 |
|
Total
Current Liabilities |
546.028
|
431.012
|
219.180 |
|
|
Net Current Assets |
550.007
|
393.074
|
269.738 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.171 |
|
|
|
|
|
|
|
|
TOTAL |
631.072 |
447.002 |
319.352 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2099.806 |
1611.852 |
1421.500 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
44.035 |
26.498 |
18.226 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.480 |
7.468 |
5.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
35.555 |
19.030 |
13.130 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.821 |
6.329 |
4.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
23.734 |
12.701 |
8.712 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.979 |
32.278 |
23.566 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
68.713 |
44.979 |
32.278 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.99 |
5.94 |
4.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.69
|
1.18 |
0.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.10
|
2.17
|
2.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.12
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.94
|
1.78
|
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
1.91
|
2.23 |
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 |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
STATE OF COMPANIES
AFFAIR
During the year there has been substatial increase in Net sales to Rs. 2099.806 millions in comparision to Rs.1611.852 millions.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Loans and advances from directors |
1.618 |
2.327 |
|
Loans and advances from others |
13.560 |
14.921 |
|
Other loans and advances, others |
136.670 |
111.279 |
|
Total |
151.848 |
128.527 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U31200WB1991PTC050809 |
|
Name of the company |
CABCON INDIA PVT LTD |
|
Address of the registered office or of the principal place of business in India of the company |
4A, Pollock Street, Kolkata- 700001, West Bengal, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Corporate Guarantee) |
|
Particular of charge holder |
Union Bank of India, Canning Street Branch, 6 D R N Mukherjee Road, Kolkata- 700001, West Bengal, India |
|
Nature of instrument creating charge |
Deed of guarantee |
|
Date of instrument Creating the charge |
15.03.2012 |
|
Amount secured by the charge |
Rs. 72.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Not Applicable Terms of Repayment Two Days After Demand Margin As per agreement Extent and Operation of the charge As per deed of guarantee |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
The company is giving corporate guarantee to the extent of Rs 72.000 millions |
FIXED ASSETS
- Land
- Buildings
- 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 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.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.