MIRA INFORM REPORT
|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADITYA PERIPHERALS PRIVATE LIMITED |
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Registered
Office : |
Gat No.291/1B, NH 4, Unchgaon, Opposite Ford Showroom, Taluka Karveer,
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.04.2004 |
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Com. Reg. No.: |
11-019144 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
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CIN No.: [Company Identification
No.] |
U72200PN2004PTC019144 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPA01630G |
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PAN No.: [Permanent Account No.] |
AAECA6973F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer Distributor of Computer Peripherals. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 87000 |
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Status : |
Satisfactory |
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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 satisfactory track record. It has achieved better growth in its turnover during 2012. There appears
slight dip in the profits. However, trade relations are reported as fair. Business is active.
Payments terms are slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Sujay |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9326372005 |
|
Date : |
06.05.2013 |
LOCATIONS
|
Registered Office/ Warehouse 1 : |
Gat No.291/1B, N.H. 4, Unchagaon, Opposite Ford Showroom, Taluka
Karveer, |
|
Tel. No.: |
91-231-2605619/ 2606186/ 2607366 |
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Mobile No.: |
91-9850886414 (Mr. Arun) 91-9326372005/ 2010 (Mr. Sujay) |
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Fax No.: |
91-231-2531166 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
|
Location : |
Owned |
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|
Warehouse 2 : |
G3/G4, Karan Park, Opposite G.P.I. Limited, Uchagaon, |
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New Sales Office : |
Plot No. 292, E Ward, Shatri Nagar, Kolhapur – 416008, Maharashtra,
India |
|
Tel. No.: |
91-231-2696414/2697415 |
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|
|
|
Sales Office : |
CS No.2045/1, Siddhivinayak Plaza, Shop No.1, 2 and 3, Rajarampuri, 11th
Lane, Near Patane High School, Kolhapur – 416 008, Maharashtra, India |
|
Tel. No.: |
91-231-2522387/ 88/ 2531165/ 66 |
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Branch Office 1 : |
4 and 5, Mahagavkar Complex, |
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Tel. No.: |
91-231-2522387/ 88 |
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Fax No.: |
91-231-2531166 |
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Area : |
800 sq. ft. |
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Location : |
Owned |
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Branch Office 2 : |
Shop No.1/2/3, |
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Tel. No.: |
91-231-2605619/ 2607366 |
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E-Mail : |
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Area : |
1200 sq. ft. |
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Location : |
Owned |
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Branch Office 3 : |
Gulmohar Apartment, Gulmohar Colony, Near Mali Theatre, Vishram Bagh,
Sangli – 416 416, |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Arun Jaikumar Managave |
|
Designation : |
Director |
|
Address : |
G3, Ground Floor, Karan Park, Opposite G.P.I., Uchagaon, Tal. Karveer,
|
|
Date of Birth/Age : |
22.02.1972 |
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Qualification : |
Graduate |
|
Date of Appointment : |
19.09.2004 |
|
DIN No.: |
00560307 |
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|
|
|
Name : |
Mr. Appasaheb Jaikumar Managave |
|
Designation : |
Director |
|
Address : |
Plot No 13, Dafle Colony Near Tushar Oil Traders,Kolhapur – 416 005,
Maharashtra, India |
|
Date of Birth/Age : |
22.07.1975 |
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Qualification : |
Graduate |
|
Date of Appointment : |
19.09.2004 |
|
DIN No.: |
00560326 |
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Name : |
Mrs. Mohini Arun Managave |
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Designation : |
Director |
|
Address : |
G3, Ground Floor, Karan Park, Opposite G.P.I., Uchagaon, Tal. Karveer,
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|
Date of Birth/Age : |
21.08.1977 |
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Qualification : |
Graduate |
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Date of Appointment : |
19.09.2004 |
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DIN No.: |
00560355 |
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Name : |
Mrs. Rajeshwari Appasaheb Managave |
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Designation : |
Director |
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Address : |
1185 E Ward, Rajarampuri, 5th Lane, Kolhapur – 416 008,
Maharashtra, India |
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Date of Birth/Age : |
26.11.1980 |
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Qualification : |
Graduate |
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Date of Appointment : |
19.09.2004 |
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DIN No.: |
02329237 |
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|
|
|
Name : |
Mr. Kiran Jaikumar Mangave |
|
Designation : |
Director |
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Address : |
1185 E Ward, Rajarampuri, 5th Lane, Kolhapur – 416 008,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1971 |
|
Date of Appointment : |
01.07.2011 |
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DIN No.: |
03631972 |
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|
Name : |
Mrs. Anita Kiran Mangave |
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Designation : |
Director |
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Address : |
Karan Park, C Wing, G3/G4, Ground Floor, Karan Park, Opposite G.P.I.,
Uchagaon, Tal. Karveer, |
|
Date of Birth/Age : |
01.06.1970 |
|
Date of Appointment : |
01.07.2011 |
|
DIN No.: |
03631976 |
KEY EXECUTIVES
|
Name : |
Mr. Sujay |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arun Jaikumar Managave |
|
3125 |
|
Appasaheb Jaikumar Managave |
|
3125 |
|
Mohini Arun Managave |
|
3125 |
|
Rajeshwari Appasaheb Managave |
|
3125 |
|
Kiran Jaikumar Managave |
|
3125 |
|
Anita Kiran Managave |
|
3125 |
|
Jaikumar Annasaheb Managave |
|
3125 |
|
Jayashri Jaikumar Managave |
|
3125 |
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|
|
|
|
Total |
|
25000 |
As on 08.03.2013
|
Names of Shareholders |
|
No. of Shares |
|
Arun Jaikumar Managave |
|
8750 |
|
Appasaheb Jaikumar Managave |
|
8750 |
|
Mohini Arun Managave |
|
8750 |
|
Rajeshwari Appasaheb Managave |
|
8750 |
|
Jaikumar Annasaheb Managave |
|
8750 |
|
Jayashri Jaikumar Managave |
|
8750 |
|
Kiran Jaikumar Managave |
|
8750 |
|
Anita Kiran Managave |
|
8750 |
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|
|
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Total |
|
70000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer Distributor of Computer Peripherals. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
Ingram Micro India Limited, India |
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Customers : |
Retailers and End Users
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No. of Employees : |
60 (Approximately) |
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Bankers : |
CC: Rs.10.000 Millions |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
ABM and Associates Chartered Accountants |
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Address : |
#1-2, Atharva, |
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PAN No.: |
ADPPC2036E |
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Sister Concern: |
Clik (Unit of Sun system) |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
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Total |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
95000 |
Equity Shares |
Rs.100/- each |
Rs. 9.500 Millions |
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Total |
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|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
|
|
Total |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
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|
|
|
|
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Total |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.424 |
15.309 |
10.543 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
21.924 |
17.809 |
13.043 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12.941 |
9.964 |
3.303 |
|
|
2] Unsecured Loans |
4.281 |
3.494 |
1.997 |
|
|
TOTAL BORROWING |
17.222 |
13.458 |
5.300 |
|
|
DEFERRED TAX LIABILITIES |
0.306 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.452 |
31.267 |
18.343 |
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
21.821 |
15.629 |
6.503 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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|
INVESTMENT |
0.487 |
0.325 |
0.082 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.020 |
0.026 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
50.084
|
30.308 |
22.517
|
|
|
Sundry Debtors |
57.218
|
57.854 |
50.945
|
|
|
Cash & Bank Balances |
4.104
|
7.408 |
1.904
|
|
|
Other Current Assets |
0.221
|
0.220 |
0.000
|
|
|
Loans & Advances |
3.380
|
4.706 |
4.352
|
|
Total
Current Assets |
115.007
|
100.496 |
79.718 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.894
|
68.525 |
|
|
|
Other Current Liabilities |
17.489
|
12.378 |
|
|
|
Provisions |
2.480
|
4.300 |
3.655
|
|
Total
Current Liabilities |
97.863
|
85.203 |
67.986
|
|
|
Net Current Assets |
17.144
|
15.293 |
11.732
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.452 |
31.267 |
18.343 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
632.874 |
517.613 |
|
|
|
|
Other Income |
19.840 |
13.873 |
|
|
|
|
TOTAL |
652.714 |
531.486 |
418.627 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
641.545 |
522.620 |
412.283 (Including
Finance Expenses and depreciation) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
11.169 |
8.866 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.598 |
0.627 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.571 |
8.239 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.650 |
1.269 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.921 |
6.970 |
6.344 |
|
|
|
|
|
|
|
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|
|
TAX |
2.806 |
2.186 |
2.200 |
|
|
|
|
|
|
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|
|
PROFIT AFTER TAX
|
4.115 |
4.784 |
4.177 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
0.525 |
0.366 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
5.000 |
4.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
0.308 |
0.543 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
164.61 |
191.35 |
167.08 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
630.000 |
Expected Sales (2013-2014) : Rs.750.000 Millions
The above information has been parted by Mr. Sujay – (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.63
|
0.90 |
0.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.09
|
1.35 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.02
|
6.94 |
7.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.39 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.79
|
0.76 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.18 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
77.894
|
68.525 |
NA |
|
Total |
77.894
|
68.525 |
NA |
|
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 |
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 |
Yes |
|
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 |
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 G3/G4, Karan Park, Opposite G.P.I., Limited Uchagaon, Kolhapur – 416
005, Maharashtra, India to the present address
w.e.f.09.03.2011
UNSECURED LOAN
|
PATICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Appasaheb Jaikumar Managave |
0.582 |
0.482 |
|
Arun Jaikumar Managave |
0.587 |
0.487 |
|
Mohini Arun Managave |
0.526 |
0.426 |
|
Rajeshwari Appasaheb Managave |
0.546 |
0.446 |
|
Anita Kiran Managave |
0.390 |
0.290 |
|
Jaikumar Annasaheb Managave |
0.766 |
0.676 |
|
Jayashri Jaikumar Managave |
0.532 |
0.435 |
|
Kiran Jaikumar Managave |
0.352 |
0.252 |
|
|
|
|
|
Total |
4.281 |
3.494 |
TRADE REFRENCE
- Ingram Micro India Limited, India
- Compcare Solution
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.53.94 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVD |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.