MIRA INFORM REPORT

 

 

Report Date :

23.09.2013

 

IDENTIFICATION DETAILS

 

Name :

BUCKTON SCOTT LTD.

 

 

Registered Office :

150 Aldersgate Street, London, EC1A 4AB, London County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

27.07.1992

 

 

Com. Reg. No.:

02734514

 

 

Legal Form :

Private parent

 

 

Line of Business :

Subject provides pharmaceutical raw materials

 

 

No. of Employees :

15

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

 

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)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase

Source : CIA

Company name and address

 

Buckton Scott Ltd.

 

 

 

150 Aldersgate Street

 

 

London, EC1A 4AB

United Kingdom

(Trading Address)
Registered Address

Tel:

01702 471827

Fax:

01702 471827

 

Employees:

15

Company Type:

Private Parent

Corporate Family:

2 Companies

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

27-Jul-1992

Auditor:

Granite Morgan Smith

 

 

 

 

 

 

 

 

Fiscal Year End:

31-Mar-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

23.8

Net Income:

0.6

Total Assets:

7.2

 

 

 

 

 

 

 

 

Business Description

 

 

Buckton Scott Ltd. is a privately owned multinational business that specialises in trade, marketing, distribution and professional consulting services. The company provides pharmaceutical raw materials, food additives, chemical intermediates, dye stuffs, and natural and herbal extracts. It serves the animal feed, beverage, textile, food processing, pharmaceutical, and health and nutrition markets. The company owns and operates numerous production facilities to develop amino acids, hydrocolloids, and gastro-intestinal and antibacterial agents. It also offers botanical products, corticosteroids, vitamins, diuretics, tinctures, essential and citrus oils, and antipyretics and analgesics. The company additionally provides contract manufacturing and product life cycle management services.

 

 

Industry

 

 

Industry

Miscellaneous Wholesale

ANZSIC 2006:

3739 - Other Goods Wholesaling Not Elsewhere Classified

ISIC Rev 4:

4610 - Wholesale on a fee or contract basis

NACE Rev 2:

4618 - Agents specialised in the sale of other particular products

NAICS 2012:

425120 - Wholesale Trade Agents and Brokers

UK SIC 2007:

4618 - Agents specialised in the sale of other particular products

US SIC 1987:

5099 - Durable Goods, Not Elsewhere Classified

Key Executives

 

 

 

Name

Title

 

Josef Ricci Heslin

Director

 

Allen Joseph Williams

Pharmaceuticals Trader

 

Stewart Russell Williams

Commercial Manager

 

 

 

News

 

 

Title

Date

Notice of Intended Dividends BUCKTON SCOTT LIMITED
London Gazette (296 Words)

5-Feb-2013

 

 

Financial Summary

 

 

FYE: 31-Mar-2011

USD (mil)

Key Figures

 

Current Assets

7.07

Fixed Assets

0.16

Total Liabilities

0.29

Net Worth

-3.55

 

Key Ratios

 

Current Ratio

1.00

Liquidity Ratio

1.00

 

 

Registered No.(UK)

 

02734514

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6433939

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6238497

 

Corporate Overview

 

 

Gazette Code Present

Location
150 Aldersgate Street
London, EC1A 4AB
London County
United Kingdom

 

Tel:

01702 471827

Fax:

01702 471827

 

Suggest Company URL

 

Sales GBP(mil):

15.3

Assets GBP(mil):

4.5

Employees:

15

Fiscal Year End:

31-Mar-2011

 

 

 

Industry:

Miscellaneous Capital Goods

Registered Address:
150 Aldersgate Street
London , EC1A 4AB
United Kingdom

 

Incorporation Date:

27-Jul-1992

Company Type:

Private Parent

Quoted Status:

Not Quoted

Previous Name:

Buckton Scott Commodities Ltd.

Registered No.(UK):

02734514

 

Commercial Manager:

Stewart Russell Williams

 

Industry Codes

 

ANZSIC 2006 Codes:

3739

-

Other Goods Wholesaling Not Elsewhere Classified

 

ISIC Rev 4 Codes:

4610

-

Wholesale on a fee or contract basis

 

NACE Rev 2 Codes:

4618

-

Agents specialised in the sale of other particular products

 

NAICS 2012 Codes:

425120

-

Wholesale Trade Agents and Brokers

 

US SIC 1987:

5099

-

Durable Goods, Not Elsewhere Classified

 

UK SIC 2007:

4618

-

Agents specialised in the sale of other particular products

 

Business Description

Buckton Scott Ltd. is a privately owned multinational business that specialises in trade, marketing, distribution and professional consulting services. The company provides pharmaceutical raw materials, food additives, chemical intermediates, dye stuffs, and natural and herbal extracts. It serves the animal feed, beverage, textile, food processing, pharmaceutical, and health and nutrition markets. The company owns and operates numerous production facilities to develop amino acids, hydrocolloids, and gastro-intestinal and antibacterial agents. It also offers botanical products, corticosteroids, vitamins, diuretics, tinctures, essential and citrus oils, and antipyretics and analgesics. The company additionally provides contract manufacturing and product life cycle management services.

 

 

 

 

 

More Business Descriptions

Merchants specialising in pharamaceutical and fine chemical products.

 

Financial Data

Financials in:

GBP(mil)

 

Revenue:

15.3

Net Income:

0.4

Assets:

4.5

Current Assets:

4.4

 

Fixed Assets:

0.1

 

Long Term Debt:

3.7

 

Total Liabilities:

0.4

 

Issued Capital:

0.0

 

Working Capital:

1.4

 

Net Worth:

-2.2

 

 

 

Date of Financial Data:

31-Mar-2011

 

1 Year Growth

14.2%

NA

NA

 

Key Corporate Relationships

Auditor:

Granite Morgan Smith

Bank:

Bank Leumi (Uk) Plc

 

Auditor:

Granite Morgan Smith

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

03-31-2011

 

 

 

 

Gazette Status

Description

Action Date

Publication

Publication Date

Administrative Receiver Appointed

18-Apr-2012

 

23-Apr-2012

Final Meeting

14-Aug-2013

 

18-Jun-2013

Liquidator Appointed

17-Apr-2012

 

27-Apr-2012

Voluntary Winding Up

17-Apr-2012

 

27-Apr-2012

Meeting Of Creditors

17-Apr-2012

 

12-Apr-2012

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Buckton Scott Ltd.

Buckton Scott Ltd.
Total Corporate Family Members: 2

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

 

 

Buckton Scott Ltd.

Parent

London

United Kingdom

Miscellaneous Wholesale

23.8

15

 

Buckton Page Ltd.

Subsidiary

Beckenham

United Kingdom

Pharmaceutical Manufacturing

0.7

 

 

 

 

 

 

Buckton Scott Ltd.

London, , United Kingdom, Tel: 01702 471827

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Josef Ricci Heslin

 

Director

Director/Board Member

 

Age: 44

 

Stewart Russell Williams

 

Commercial Manager

Director/Board Member

 

 

 

Allen Joseph Williams

 

Pharmaceuticals Trader

Director/Board Member

 

 

Age: 66

 

 

Executives

 

Name

Title

Function

 

Josef Ricci Heslin

 

Director

Company Secretary

 

Age: 44

 

Stewart Russell Williams

 

Commercial Manager

Commercial Executive

 

 

Age: 39

 

Allen Joseph Williams

 

Pharmaceuticals Trader

Medical Specialist

 

 

Age: 66

 

 

 
Directors and Shareholders Report

 

Main Office Address:
150 Aldersgate Street
London
United Kingdom EC1A 4AB

Tel: 01702 471827
Fax: 01702 471827

Annual Return Date: 26 Jul 2011
Total Issued Capital (GBP 000): 1

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Stewart Russell
Williams

Current

18 Aug 1974

73 North Street,
Rochford, Essex SS4 1AD

19 Jan 2001

NA

Current:4
Previous:0
Disqualifications:0

 

Allen Joseph
Williams

Current

27 Dec 1946

31 Harley Street,
Leigh-On-Sea, Essex SS9 2NJ

27 Jul 1992

NA

Current:3
Previous:0
Disqualifications:0

 

Colin George
Stubbs

Previous

12 Nov 1954

8 Kenilworth Gardens,
Westcliff-On-Sea, Essex SS0 0BD

28 Oct 1992

15 Oct 2005

Current:0
Previous:4
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

There are no corporate directors for this company.

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Josef Ricci
Heslin

Current

06 Oct 1968

160 Manor Road,
Benfleet, Essex SS7 4HU

09 Nov 2005

NA

Current:1
Previous:0
Disqualifications:0

 

Colin George
Stubbs

Previous

12 Nov 1954

8 Kenilworth Gardens,
Westcliff-On-Sea, Essex SS0 0BD

27 Jul 1992

15 Oct 2005

Current:0
Previous:4
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

There are no corporate secretaries for this company.

 

 

Individual Shareholders

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Allen Joseph Williams

600 Ordinary GBP 1.00

Ordinary

600

1.00

600.00

60.00

David Stubbs

100 Ordinary GBP 1.00

Ordinary

100

1.00

100.00

10.00

Ma Jian Qiao

50 Non,Voting Ordinary GBP 1.00

Non,Voting Ordinary

50

1.00

50.00

5.00

Stewart Russell Williams

150 Ordinary GBP 1.00

Ordinary

150

1.00

150.00

15.00

Thomas Walter Goodey

100 Ordinary GBP 1.00

Ordinary

100

1.00

100.00

10.00

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

 

 

 

News

 

 

Notice of Intended Dividends BUCKTON SCOTT LIMITED
London Gazette (296 Words)

05-Feb-2013

 


Annual Profit & Loss

 

 

 

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

  Financial Glossary

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

0.498361

0.528925

Consolidated

Yes

Yes

No

Yes

Yes

 

 

 

 

 

 

Turnover (Exports)

8.1

7.4

6.9

10.8

11.5

Total Turnover

23.8

21.3

19.8

29.8

33.1

Cost of Sales

20.3

18.6

16.9

25.6

28.4

Gross Profit

3.5

2.8

2.9

4.2

4.7

Depreciation

0.0

0.0

0.0

0.0

0.0

Operating Profit

1.2

-0.3

-0.8

0.9

1.0

Interest Paid

0.5

0.5

0.7

0.8

0.8

Interest Received

0.0

0.0

0.0

0.0

0.0

Profit Before Taxes

0.7

-0.9

-1.5

0.1

0.2

Dividends

-

-

0.0

0.1

0.2

Profit After Taxes

0.6

-0.8

-0.9

0.2

0.6

Audit Fees

0.0

0.0

0.1

0.1

0.1

Number of Employees

15

18

21

21

25

Directors Remuneration

0.2

0.2

0.2

0.1

1.6

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.62385

0.659239

0.697666

0.503145

0.509853

Consolidated

Yes

Yes

No

Yes

Yes

 

 

 

 

 

 

Total Tangible Fixed Assets

0.1

0.1

0.1

0.9

0.9

Intangible Assets

0.0

-

-

-

-

Investments

0.1

0.1

1.5

1.4

1.4

Total Fixed Assets

0.2

0.2

1.6

2.3

2.2

Total Stocks

1.7

1.7

2.0

4.4

3.3

Trade Debtors

3.0

2.5

3.6

5.6

5.1

Cash and Equivalents

0.5

0.7

0.8

2.0

1.4

Other Current Assets

1.8

2.3

0.7

0.7

0.6

Total Current Assets

7.1

7.1

7.0

12.7

10.4

Total Assets

7.2

7.3

8.6

15.0

12.6

Trade Creditors

2.8

2.7

3.4

7.4

5.3

Bank Overdraft

1.6

1.5

0.0

0.0

0.0

Bank Loan Overdrafts

0.0

0.0

7.9

9.7

9.5

Short Term Bank Loans (Current Liability)

0.2

0.0

-

-

-

Total Short Term Loans

1.8

1.5

7.9

9.7

9.5

Other Current Liabilities

0.3

0.7

0.3

0.5

0.4

Total Current Liabilities

0.3

0.7

0.3

0.5

0.4

Working Capital

2.2

2.2

-4.5

-4.8

-4.8

Bank Loans (Long Term Liability)

5.9

6.2

-

-

-

Total Long Term Loans

5.9

6.2

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.1

0.0

0.0

0.0

Total Long Term Liabilities

5.9

6.4

0.0

0.0

0.0

Total Liabilities

0.6

-0.7

-0.8

0.1

0.4

Issued Capital

0.0

-

-

-

-

Revaluation Reserve

-

-

-

0.4

0.4

Retained Earnings

-3.5

-4.0

-2.9

-2.9

-2.9

Other Reserves

-

-

0.0

0.0

0.0

Total Reserve

-3.5

-4.0

-2.9

-2.6

-2.6

Total Shareholders Funds

-3.5

-4.0

-2.9

-2.6

-2.6

Net Worth

-3.6

-4.0

-2.9

-2.6

-2.6

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

0.498361

0.528925

Consolidated

Yes

Yes

No

Yes

Yes

 

 

 

 

 

 

Retained Profits

0.6

-0.8

-1.0

0.1

0.4

Net Cash Flow From Operating Activities

0.8

1.0

-2.1

1.4

3.8

Net Cash Flow from ROI and Servicing of Finance

-0.5

-0.5

-0.6

-0.8

-0.8

Taxation

0.1

-0.1

-0.6

0.0

-0.3

Paid Up Equity

0.0

0.0

0.0

0.0

0.0

Net Cash Flow Before Financing

0.3

0.4

0.0

0.0

0.0

Net Cash Flow From Financing

-0.5

3.4

0.0

0.0

0.0

Increase in Cash

-0.2

3.9

-1.9

0.5

2.9

Contingent Liability

0.0

0.0

0.0

0.0

0.0

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.62385

0.659239

0.697666

0.503145

0.509853

Consolidated

Yes

Yes

No

Yes

Yes

 

 

 

 

 

 

Current Ratio

1.00

1.00

1.00

1.00

1.00

Liquidity Ratio

1.00

1.00

0.00

0.00

0.00

Stock Turnover

14.00

12.00

8.00

7.00

10.00

Collection Period

44.00

44.00

77.00

69.00

53.00

Creditor Days (Sales Based)

41.00

48.00

73.00

91.00

56.00

Gearing

-203.00%

-180.00%

-

-

-

Insolvency Ratio

-

-5.00

-2.00

-

-

Solvency Ratio

-49.00%

-54.00%

-34.00%

-17.00%

-20.00%

Return on Capital

32.00%

-36.00%

-

-

-

Return on Capital Employed

-22.00%

21.00%

43.00%

-5.00%

-9.00%

Return on Assets

11.00%

-11.00%

-15.00%

1.00%

2.00%

Current Debt Ratio

-1.00

-1.00

-4.00

-7.00

-6.00

Return On Short Term Debt

16.00%

-17.00%

-11.00%

1.00%

2.00%

Long Term Debt Ratio

2.00

3.00

0.00

0.00

0.00

Total Debt Ratio

-3.00

-3.00

-4.00

-7.00

-6.00

Debt Asset Ratio

67.00%

67.00%

134.00%

117.00%

120.00%

Working Finance

119.00%

112.00%

-

-

-

Pretax Margin

3.00%

-4.00%

-8.00%

0.00%

1.00%

Return on Shareholders Funds

-22.00%

21.00%

43.00%

-5.00%

-9.00%

Sales to Fixed Assets

15,359.00%

11,349.00%

1,073.00%

1,291.00%

1,530.00%

Sales to Total Assets

339.00%

279.00%

196.00%

197.00%

272.00%

Stock Financing

1.00

1.00

0.00

-1.00

-1.00

Fixed Asset Investment

0.00

0.00

0.00

0.00

0.00

Shareholder Liquidity

-1.00

-1.00

-

-

-

Asset Turnover Ratio

10.00

8.00

-6.00

-12.00

-13.00

Profit Before Interest Margin

3.00%

-4.00%

-7.00%

0.00%

1.00%

Short Term Gearing

-36.00%

-22.00%

-

-

-

Post Tax Result to Net Worth

-18.00%

19.00%

27.00%

-7.00%

-23.00%

Post Tax Result to Total Assets

9.00%

-10.00%

-9.00%

1.00%

5.00%

Post Tax Loss to Net Worth

0.00

0.00

0.00

0.00

0.00

Stock to Total Assets

417.00%

436.00%

431.00%

344.00%

377.00%

Monthly Turnover

2.0

1.7

1.4

2.5

2.9

Interest Coverage

1.00

-2.00

-2.00

0.00

0.00

Profit per Employee

0.1

0.0

-0.1

0.0

0.0

Sales per Employee

1.6

1.1

0.8

1.4

1.4

Capital Employed per Employee

0.2

0.1

-0.1

-0.1

-0.1

Fixed Assets Per Employee

0.0

0.0

0.0

0.0

0.0

Shareholders Funds Per Employee

-0.2

-0.2

-0.1

-0.1

-0.1

Exports Per Employee

0.6

0.4

0.3

0.5

0.5

Financial Strength Ratio

1.00

1.00

1.00

1.00

1.00

Reserve Movement

-15.00%

28.00%

58.00%

-2.00%

-308.00%

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.24

UK Pound

1

Rs.99.89

Euro

1

Rs.84.22

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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

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NB

                                       New Business

 

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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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.