MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAVNIDHI STEEL AND ENGINEERING COMPANY PRIVATE LIMITED |
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Registered
Office : |
Shop No.1, Lehri Mansion, 236/240, S.V.P. Road, Mumbai – 400 004,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.03.2006 |
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Com. Reg. No.: |
11-160632 |
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Capital Investment
/ Paid-up Capital : |
Rs. 12.250
Millions |
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CIN No.: [Company Identification
No.] |
U27100MH2006PTC160632 |
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IEC No.: |
0306033381 |
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TIN No.: |
27780531273 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13568C |
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PAN No.: [Permanent Account No.] |
AACCN2748R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in trading and supply of ferrous and non-ferrous metals. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 satisfactory track record. As per Registrar of companies the date of balance sheet i.e., Financials
filed is shown as 31st March, 2014 but the documents related to
the financials for the year 2014 are not available from any sources. As per available financial of 2013, profitability of the company
appears to be low. However, General Financial position of the company seems
to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to sack
another 300 employees. The lay-offs follow a spate of senior-level exits over
the past two years, starting with of its founder. The overall lay-offs could
number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Prajakta |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-67496081 |
|
Date : |
05.11.2014 |
LOCATIONS
|
Registered Office/ Head Office/ Corporate Office : |
Shop No.1, Lehri Mansion, 236/240, S.V.P. Road, Mumbai – 400004,
Maharashtra, India |
|
Tel. No.: |
91-22-67496081/ 67496082/ 67496083/ 23890122/ 23866795/ 66109393 |
|
Mobile No.: |
91-9819814006 (Mr. Hemantkumar Hastimal Jain) |
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Fax No.: |
91-22-23890122 |
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E-Mail : |
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Website: |
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Area : |
800 sq. ft. |
|
Location : |
Owned |
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Branch Office : |
Plot No.1266, Road No.14, Steel Market, Kalamboli, Navi Mumbai –
410218, Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vikram Hastimal Jain |
|
Designation : |
Director |
|
Address : |
Flat No.1504, ‘A’ Wing, |
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Date of Birth/Age : |
25.10.1980 |
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Qualification : |
B. Com |
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Experience : |
13 Years |
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Date of Appointment : |
22.03.2006 |
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DIN No.: |
01200061 |
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PAN No.: |
ACRPJ5206G |
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|
|
|
Name : |
Mr. Hemantkumar Hastimal Jain |
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Designation : |
Director |
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Address : |
Flat No.1504, ‘A’ Wing, |
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Date of Birth/Age : |
01.04.1985 |
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Qualification : |
B. Com |
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Experience : |
6 Years |
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Date of Appointment : |
02.11.2009 |
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DIN No.: |
02624316 |
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PAN No.: |
AFLPJ1737K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Hastimal Malaji Jain |
90000 |
7.35 |
|
Vikram Hastimal Jain |
640000 |
52.24 |
|
Hemant H. Jain |
90000 |
7.35 |
|
Suaben H. Jain |
90000 |
7.35 |
|
Sadhana V. Jain |
90000 |
7.35 |
|
Avance Technologies Limited, India |
225000 |
18.37 |
|
Total |
12,250,00 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
18.37 |
|
Directors
or relatives of directors |
|
81.63 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in trading and supply of ferrous and non-ferrous metals. |
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Products : |
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Exports : |
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Products : |
Stainless Steel Plates, Nickel Alloys and Boiler Quality Plates |
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Countries : |
Dubai |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
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Customers : |
Retailers and End Users ·
L & T Limited ·
Alstom Projects (India) Limited ·
Indian Oil Corporation |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
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Facilities : |
Total Facilities: Rs.140.000 millions (From Standard Chartered Bank, Fort)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D.C. Bothra and Company Chartered Accountants |
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Address : |
297, Willie Mansion, Tardeo Road, Nana Chowk, Mumbai – 400 007,
Maharashtra, India |
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PAN No.: |
AACFD4645G |
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Associates / Enterprises over which directors and / or their relatives
has significant influence : |
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CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,500,00 |
Equity Shares |
Rs.10/- each |
Rs.12.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,250,00 |
Equity Shares |
Rs.10/- each |
Rs.12.250
millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
12.250 |
12.250 |
10.000 |
|
(b) Reserves & Surplus |
104.268 |
99.032 |
6.444 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
116.518 |
111.282 |
16.444 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
87.782 |
72.783 |
39.513 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.156 |
1.417 |
1.778 |
|
(d)
Long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
87.938 |
74.200 |
41.291 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
117.396 |
173.193 |
129.929 |
|
(b)
Trade payables |
80.792 |
100.592
|
105.768 |
|
(c)
Other current liabilities |
16.913 |
9.945
|
172.728 |
|
(d)
Short-term provisions |
7.775 |
7.152
|
2.830 |
|
Total
Current Liabilities (4) |
222.876 |
290.882 |
411.255 |
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TOTAL |
427.332 |
476.364 |
468.990 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
2.867 |
3.700 |
4.932 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.461 |
0.918 |
0.408 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
13.205 |
12.543 |
3.140 |
|
(e)
Other Non-current assets |
26.899 |
98.612 |
20.976 |
|
Total
Non-Current Assets |
44.432 |
115.773 |
29.456 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
91.846 |
97.010
|
180.481 |
|
(c)
Trade receivables |
233.004 |
208.466
|
216.639 |
|
(d)
Cash and cash equivalents |
18.194 |
4.908
|
2.176 |
|
(e)
Short-term loans and advances |
39.856 |
50.207 |
40.238 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
382.900 |
360.591 |
439.534 |
|
|
|
|
|
|
TOTAL |
427.332 |
476.364 |
468.990 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1010.634 |
1212.917 |
1062.197 |
|
|
|
Other Income |
5.208 |
3.639 |
1.058 |
|
|
|
TOTAL |
1015.842 |
1216.556 |
1063.255 |
|
|
|
|
|
|
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|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
1005.832 |
1207.396 |
1054.594 |
|
|
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Administrative Expenses |
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Advertising Expenses |
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|
|
|
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TOTAL |
1005.832 |
1207.396 |
1054.594 |
|
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|
PROFIT/ (LOSS)
BEFORE TAX |
10.010 |
9.160 |
8.661 |
|
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|
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|
|
|
|
Less |
TAX |
3.350 |
3.043 |
2.824 |
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|
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|
PROFIT/ (LOSS)
AFTER TAX |
6.660 |
6.117 |
5.837 |
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IMPORTS ON CIF
BASIS |
558.878 |
527.481 |
618.107 |
|
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|
|
Earnings/ (Loss)
Per Share (Rs.) |
5.44 |
5.56 |
5.83 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
990.000 |
|
|
|
|
[Market
Fluctuation] |
Expected Sales (2014-2015): Rs.1250.000 Millions
The above information has been parted by Ms. Prajakta (Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.66 |
0.50 |
0.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.99 |
0.76 |
0.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35 |
1.93 |
1.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.08 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.76 |
2.21 |
10.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
1.24 |
1.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
10.000 |
12.250 |
12.250 |
|
Reserves & Surplus |
6.444 |
99.032 |
104.268 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
16.444 |
111.282 |
116.518 |
|
|
|
|
|
|
Long-term borrowings |
39.513 |
72.783 |
87.782 |
|
Short term borrowings |
129.929 |
173.193 |
117.396 |
|
Total borrowings |
169.442 |
245.976 |
205.178 |
|
Debt/Equity ratio |
10.304 |
2.210 |
1.761 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
1,062.197 |
1,212.917 |
1,010.634 |
|
|
|
14.189 |
(16.677) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
1,062.197 |
1,212.917 |
1,010.634 |
|
Profit |
5.837 |
6.117 |
6.660 |
|
|
0.55% |
0.50% |
0.66% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
0.506 |
3.466 |
164.437 |
|
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% |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
34.930 |
23.861 |
|
Loans and advances from others |
49.469 |
39.783 |
|
Other loans and advances |
3.300 |
8.550 |
|
|
|
|
|
Total
|
87.699 |
72.194 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10111279 |
25/09/2012 * |
180,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO,
3A/F, PLOT NO. C-38 AND 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST,
MUMBAI, MAHARASHTRA - 400051, INDIA |
B59584367 |
* Date of charge modification
OPERATIONS
During the year, the company
has achieved a turnover of Rs.1010.600 millions against Rs.1212.900 millions in
the previous year. Despite decline in turnover during the year, the board
expects growth in turnover in future considering orders in hand and growing
product demand in the domestic market for the core line of business.
FIXED ASSETS:
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment
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.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
47 |
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.