MIRA INFORM REPORT
|
Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
URMIN PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
48, Changodar Industrial Estate, Nrbesan Factory, Bavla Road,
Changodar Ta-Sanand, Ahmedabad – 382213, Gujarat |
|
|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.04.2000 |
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|
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Com. Reg. No.: |
04-116546 |
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Capital
Investment / Paid-up Capital : |
Rs.6.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201DL2002PTC116546 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Tobacco Products. |
|
|
|
|
No. of Employees
: |
300 (Approximately) (Including Contract Workers) |
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 1193000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. As per registrar of companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2013 but the documents related to
financials after 2010 are not available from any source. Mr. Viresh Shah, Chartered Accountant provided general information and
also informed that company has achieved sales turnover of Rs.5000.000
Millions in 2012-13 and Rs.6000.000 Millions in 2013-14 (Financial figure not
verified). As per financial of 2010, financial position of the company is decent.
However, trade relations are fair. Business is active. Payment terms
are unknown. 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of the
global e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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. Viresh Shah |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-79-29296911 |
|
Date : |
26.06.2014 |
LOCATIONS
|
Registered Office/ Factory : |
48, Changodar Industrial Estate, Nrbesan Factory, Bavla Road, Changodar
Ta-Sanand, Ahmedabad – 382213, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9879105030 (Mr. Hiral) |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
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|
Area : |
30000 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Sindhu Bhavan Road, Off S G Highway, Beside HOF Living, Bodakdev,
Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-79-29296911/ 12 |
|
Fax No.: |
91-79-40370708 |
DIRECTORS
As on: 09.09.2013
|
Name : |
Sheetal Kaushik Majithia |
|
Designation : |
Director |
|
Address : |
Urmikuj, Near Stattya Green, Behind Rajpath Club, Bodakdev, Ahmedabad
– 380059, Gujarat, India |
|
Date of Birth/Age : |
18.01.1969 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.11.2000 |
|
DIN No.: |
00286766 |
|
|
|
|
Name : |
Krishnaben Rajendra Majithia |
|
Designation : |
Director |
|
Address : |
Urmikuj, Near Stattya Green, Behind Rajpath Club, Bodakdev, Ahmedabad
– 380059, Gujarat, India |
|
Date of Birth/Age : |
07.03.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.11.2000 |
|
DIN No.: |
00286720 |
|
|
|
|
Name : |
Sarikaben Tejasbhai Majithia |
|
Designation : |
Director |
|
Address : |
Urmikuj, Near Stattya Green, Behind Rajpath Club, Bodakdev, Ahmedabad
– 380059, Gujarat, India |
|
Date of Birth/Age : |
17.10.1975 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00086147 |
KEY EXECUTIVES
|
Name : |
Mr. Viresh Shah |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 09.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sheetal Kaushik Majithia |
|
200000 |
|
Krishnaben Rajendra Majithia |
|
200000 |
|
Sarikaben Tejasbhai Majithia |
|
200000 |
|
|
|
|
|
Total |
|
600000 |
Equity Share Break up (Percentage of Total Equity)
As on: 09.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tobacco Products. |
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Exports : |
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Products : |
Tobacco Products |
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Countries : |
Middle East |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) (Including Contract Workers) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.L. Thakkar and Company Chartered Accountants |
|
Address : |
Kashmira Chambers, Behind Old High Court, Navrangpura, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
91-79-26587802/ 25650524 |
|
Fax No.: |
91-79-26585132 |
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E-Mail : |
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PAN No.: |
AAFFA6141D |
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Sister Concern : |
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CAPITAL STRUCTURE
As on: 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.000 |
6.000 |
6.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
292.494 |
187.170 |
146.037 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
298.494 |
193.170 |
152.037 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.229 |
8.988 |
0.402 |
|
|
2] Unsecured Loans |
57.800 |
70.100 |
70.100 |
|
|
TOTAL BORROWING |
67.029 |
79.088 |
70.502 |
|
|
DEFERRED TAX LIABILITIES |
0.892 |
1.903 |
2.025 |
|
|
|
|
|
|
|
|
TOTAL |
366.415 |
274.161 |
224.564 |
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
48.607 |
51.266 |
52.715 |
|
|
Capital work-in-progress |
46.671 |
3.873 |
4.265 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.250 |
1.250 |
1.250 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
347.898
|
351.496 |
291.325 |
|
|
Sundry Debtors |
63.672
|
27.922 |
60.535 |
|
|
Cash & Bank Balances |
98.524
|
92.163 |
40.075 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
69.060
|
48.344 |
56.418 |
|
Total
Current Assets |
579.154
|
519.925 |
448.353 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
254.930
|
246.531 |
240.038 |
|
|
Other Current Liabilities |
44.444
|
36.657 |
17.942 |
|
|
Provisions |
39.939
|
19.034 |
24.125 |
|
Total
Current Liabilities |
339.313
|
302.222 |
282.105 |
|
|
Net Current Assets |
239.841
|
217.703 |
166.248 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.046 |
0.069 |
0.086 |
|
|
|
|
|
|
|
|
TOTAL |
366.415 |
274.161 |
224.564 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1750.259 |
1233.701 |
1052.602 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
115.524 |
59.668 |
69.615 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
40.200 |
18.536 |
24.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
75.324 |
41.132 |
44.724 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.871 |
2.717 |
NA |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
15.358 |
7.364 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
125.54 |
68.55 |
NA |
|
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
6000.000 |
5000.000 |
|
|
|
|
|
The above information has been parted by Mr.
Viresh Shah
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
6.60 |
4.84 |
6.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.40 |
10.45 |
13.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.31 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.22 |
0.41 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71 |
1.72 |
1.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
6.000 |
6.000 |
6.000 |
|
Reserves & Surplus |
146.037 |
187.170 |
292.494 |
|
Net
worth |
152.037 |
193.170 |
298.494 |
|
|
|
|
|
|
long-term borrowings |
0.402 |
8.988 |
9.229 |
|
Short term borrowings |
70.100 |
70.100 |
57.800 |
|
Total
borrowings |
70.502 |
79.088 |
67.029 |
|
Debt/Equity
ratio |
0.464 |
0.409 |
0.225 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1052.602 |
1233.701 |
1750.259 |
|
|
|
17.205 |
41.871 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1052.602 |
1233.701 |
1750.259 |
|
Profit |
44.724 |
41.132 |
75.324 |
|
|
4.25% |
3.33% |
4.30% |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last five 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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
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)
|
Particular |
As on 31.03.2010 |
As on 31.03.2009 |
|
From Directors and Shareholders |
57.800 |
70.100 |
|
|
|
|
|
Total |
57.800 |
70.100 |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fitting
- Vehicles
- Computer
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.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.