1. Summary Information
|
|
|
Country |
|
|
Company Name |
SUNGREEN
VENTILATION SYSTEMS PRIVATE LIMITED |
Principal Name 1 |
Mr. Jaikumar Sundaramurthy |
|
Status |
Moderate |
Principal Name 2 |
Mr. Hariesh Jaikumar |
|
|
|
Registration # |
18-066097 |
|
Street Address |
227, |
||
|
Established Date |
17.01.2008 |
SIC Code |
-- |
|
Telephone# |
91-44-24613146 / 42101119 / 28117471 / 28111794 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-42101119 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Dry Fog Cooling System |
|
|
# of employees |
Not Available |
Product Name 2 |
Roof Wind Driven Ventilator |
|
Paid up capital |
Rs.100,000/- |
Product Name 3 |
Evaporative Cooling System |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
Corporation
Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
5 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(33) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
17,599,000 |
Current Liabilities |
19,562,000 |
|
Inventories |
19,686,000 |
Long-term Liabilities |
23,775,000 |
|
Fixed Assets |
11,692,000 |
Other Liabilities |
958,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
44,295,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
4,582,000 |
|
|
|
Net Worth |
4,682,000 |
|
Total Assets |
48,977,000 |
Total Liab. & Equity |
48,977,000 |
|
Total Assets (Previous Year) |
38,234,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
62,641,000 |
Net Profit |
1,163,000 |
|
Sales(Previous yr) |
47,354,000 |
Net Profit(Prev.yr) |
387,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUNGREEN VENTILATION SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
227, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.01.2008 |
|
|
|
|
Com. Reg. No.: |
18-066097 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29191TN2008PTC066097 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of industrial ventilation systems like dry fog cooling system, roof wind driven ventilator, evaporative cooling system, air conditioning system and air specific systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 18000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appear huge external borrowings recorded by the company. However, trade relations are reported as 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 – 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 |
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 : |
227, |
|
Tel. No.: |
91-44-24613146 / 42101119 / 28117471 / 28111794 |
|
Mobile No.: |
91-9962044016/9840044011 (Mr. Jaikumar) |
|
Fax No.: |
91-44-42101119 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
153, Citco Industrial Estate, Ambattur, Chennai – 600098, Tamilnadu |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Jaikumar Sundaramurthy |
|
Designation : |
Director |
|
Address : |
15, Deivasigamani St. Royapettah, Chennai – 600 014, |
|
Date of Birth/Age : |
01.01.1949 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
17.01.2008 |
|
DIN No.: |
01915468 |
|
|
|
|
Name : |
Mr. Hariesh Jaikumar |
|
Designation : |
Director |
|
Address : |
15, |
|
Date of Birth/Age : |
04.01.1980 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
17.01.2008 |
|
DIN No.: |
01915455 |
|
|
|
|
Name : |
Mr. Dinesh Jaikumar |
|
Designation : |
Director |
|
Address : |
New No. 33, Old No. 15, |
|
Date of Birth/Age : |
26.12.1982 |
|
Qualification : |
M.A. DEMMS. |
|
Date of Appointment : |
17.01.2008 |
|
DIN No.: |
01912259 |
|
|
|
|
Name : |
Mrs. Geetha Jaikumar |
|
Designation : |
Director |
|
Address : |
New No. 33, Old No. 15, |
|
Date of Birth/Age : |
13.05.1956 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.01.2008 |
|
DIN No.: |
01912175 |
MAJOR SHAREHOLDERS
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Geetha Jaikumar |
|
2500 |
|
Dinesh Jaikumar |
|
2500 |
|
Hariesh Jaikumar |
|
2500 |
|
Jaikumar Sundaramurthy |
|
2490 |
|
L Balaji |
|
10 |
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of industrial ventilation
systems like dry fog cooling system, roof wind driven ventilator, evaporative
cooling system, air conditioning system and air specific systems. |
GENERAL INFORMATION
|
Customers : |
·
Amara Raja ·
Bericap ·
Cipla ·
Electro Steel Castings Limited ·
Energizer ·
Exide Industries Limited ·
Foxconn ·
Marico ·
MRF ·
Murugappa Group ·
Nippo ·
Nokia ·
Pepsi ·
Sanmar ·
Tempel ·
Titan ·
Triton ·
TVS ·
Hindustan Unilever Limited ·
Whirlpool ·
Ford ·
Parrys ·
Gillette ·
Kiwi ·
PSL ·
BMW ·
Amtek ·
Ferrero Rocher ·
Saint Gobain |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
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No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· Corporation Bank Limited, Mylapore, Chennai - 600004, Tamilnadu, India · Indian Overseas Bank, Mylapore Branch, 177, Luz Church Road, Chennai - 600004, Tamilnadu, India |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. Thiagarajan and Company Chartered Accountants |
|
Address : |
15/24, YOGAMBAL STREET, T. NAGAR, CHENNAI – 600017, Tamilnadu, India |
|
Tel. No.: |
91-44-42122115/ 6/8 |
|
Fax No.: |
91-44-42122120 |
|
E-Mail : |
|
|
PAN No.: |
AADFB9485H |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.582 |
3.417 |
3.030 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.682 |
3.517 |
3.130 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
20.359 |
14.917 |
8.938 |
|
|
2] Unsecured Loans |
3.416 |
4.923 |
1.010 |
|
|
TOTAL BORROWING |
23.775 |
19.840 |
9.948 |
|
|
DEFERRED TAX LIABILITIES |
0.651 |
0.415 |
0.211 |
|
|
|
|
|
|
|
|
TOTAL |
29.108 |
23.772 |
13.289 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.692 |
9.574 |
5.271 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.686
|
18.485 |
7.361 |
|
|
Sundry Debtors |
9.479
|
6.884 |
3.722 |
|
|
Cash & Bank Balances |
3.832
|
2.195 |
2.461 |
|
|
Other Current Assets |
0.013
|
0.026 |
0.000 |
|
|
Loans & Advances |
4.275
|
2.070 |
0.757 |
|
Total
Current Assets |
37.285
|
29.660 |
14.301 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
|
6.323 |
|
|
Other Current Liabilities |
19.562
|
15.462 |
|
|
|
Provisions |
0.307
|
0.000 |
0.000 |
|
Total
Current Liabilities |
19.869
|
15.462 |
6.323 |
|
|
Net Current Assets |
17.416
|
14.198 |
7.978 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.040 |
|
|
|
|
|
|
|
|
TOTAL |
29.108 |
23.772 |
13.289 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
62.641 |
47.354 |
32.952 |
|
|
|
Other Income |
1.074 |
0.234 |
0.075 |
|
|
|
TOTAL (A) |
63.715 |
47.588 |
33.027 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
33.437 |
18.142 |
28.432 |
|
|
|
(Increase)/ Decrease in Inventories |
0.442 |
3.394 |
|
|
|
|
Other Manufacturing Expenses |
2.034 |
2.002 |
|
|
|
|
Employee benefit Expenses |
12.613 |
13.213 |
|
|
|
|
Other expenses |
9.710 |
8.091 |
|
|
|
|
TOTAL (B) |
58.236 |
44.842 |
28.432 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.479 |
2.746 |
4.595 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.047 |
1.553 |
0.734 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.432 |
1.193 |
3.861 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.777 |
0.602 |
0.306 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.655 |
0.591 |
3.555 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.492 |
0.204 |
1.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.163 |
0.387 |
2.455 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.417 |
3.030 |
0.575 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4.580 |
3.417 |
3.030 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Imports |
12.171 |
13.750 |
0.000 |
|
|
TOTAL IMPORTS |
12.171 |
13.750 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
116.67 |
38.77 |
245.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.83
|
0.81 |
7.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.64
|
1.25 |
10.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.38
|
1.51 |
18.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.17 |
1.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.08
|
5.64 |
3.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.92 |
2.26 |
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 |
Yes |
|
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 |
UNSECURED LOAN
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
3.416 |
4.923 |
|
Total |
3.416 |
4.923 |
FIXED ASSETS:
·
Building
·
Plant and machinery
·
Computer
·
Furniture and Fittings
·
Vehicles
·
Office 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.53.95 |
|
|
1 |
Rs.83.81 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.