MIRA INFORM REPORT
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Report No. : |
316276 |
|
Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
L G W LIMITED |
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|
|
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Registered
Office : |
Narayanpur, 24 Parganas (N), P.O – Rajarhat Gopalpur, Kolkata –
700136, West Bengal |
|
Tel No : |
91-33-66080724 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
03.08.1984 |
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|
|
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Com. Reg. No.: |
21-037792 |
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Capital
Investment / Paid-up Capital : |
Rs. 50.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26101WB1984PLC037792 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Wholesaler of Various types of Glassware, Glass based
Decorating Items and Imitation Jewelry and Golden jewelry. |
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|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 550000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate operational
risk profile and loss that company has incurred from its operational activities
during 2014. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating B- |
|
Rating Explanation |
Risk – prone – credit – quality and carries very high credit risk. |
|
Date |
06.03.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
06.03.2014 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Subhendar Mandal |
|
Designation : |
Production Manager |
|
Contact No.: |
91-9836320360 |
|
Date : |
16.04.2015 |
LOCATIONS
|
Registered Office : |
Narayanpur, 24 Parganas (N), P.O – Rajarhat Gopalpur, Kolkata –
700136, West Bengal, India |
|
Tel. No.: |
91-33-66080724 |
|
Mobile No.: |
91-9836320360 (Mr. Subhendar Mandal) |
|
E-Mail : |
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|
Website : |
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|
Locality : |
Industrial |
DIRECTORS
As on : 30.09.2014
|
Name : |
Mr. Amit Kumar Gupta |
|
Designation : |
Director |
|
Address : |
DA – 00047, Salt lake City, Sector – 1, Kolkata – 700064, West Bengal,
India |
|
Date of Birth/Age : |
06.10.1962 |
|
Date of Appointment : |
03.08.1984 |
|
DIN No.: |
00465578 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Gupta |
|
Designation : |
Director |
|
Address : |
LGW Complex, Narayanpur, 24 Parganas, Gopalpur, Kolkata – 700136, West
Bengal, India |
|
Date of Birth/Age : |
11.03.1960 |
|
Date of Appointment : |
03.09.1984 |
|
DIN No.: |
00474106 |
|
|
|
|
Name : |
Mr. Anurag Gupta |
|
Designation : |
Managing Director |
|
Address : |
LGW Complex, Narayanpur, 24 Parganas, Gopalpur, Kolkata – 700136, West
Bengal, India |
|
Date of Birth/Age : |
27.10.1988 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
03379018 |
KEY EXECUTIVES
|
Name : |
Mr. Abhishek Kumar |
|
Designation : |
Secretary |
|
Address : |
Flat No. C – 2, Satyam Apartments , FD – 10/1, Swamiji Pally,
Baguihati, Kolkata – 700059, West Bengal, India |
|
Date of Birth/Age : |
06.09.1987 |
|
Date of Appointment : |
11.05.2013 |
|
Pan No : |
ATXPK4240N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Sanjay Kumar Gupta |
2750000 |
55.00 |
|
Amit Kumar Gupta |
878946 |
17.58 |
|
Amit Kumar Gupta (HUF) |
30 |
0.00 |
|
Anurag Gupta |
1370624 |
27.41 |
|
Sanjay Kumar Gupta (HUF) |
150 |
0.00 |
|
LGW Complex |
100 |
0.00 |
|
Anurag Gupta (HUF) |
150 |
0.00 |
|
Total |
5000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Wholesaler of Various types of Glassware, Glass based
Decorating Items and Imitation Jewelry and Golden jewelry. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Countries : |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
|
|
Name : |
N.K. Poddar and Company Chartered Accountant |
|
Address : |
P-3, New C.I.T. Road (Tiretti) 2nd Floor, Kolkata - 700073, West Bengal, India |
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PAN No.: |
AABFN8884A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on : 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
142.381 |
152.432 |
135.641 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
192.381 |
202.432 |
185.641 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
80.178 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.275 |
1.906 |
5.182 |
|
(c) Other long term
liabilities |
20.004 |
20.240 |
1.860 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
100.457 |
22.146 |
7.042 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
62.289 |
238.979 |
369.762 |
|
(b) Trade
payables |
1.671 |
116.300 |
480.508 |
|
(c) Other current
liabilities |
1.133 |
2.113 |
2.109 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.024 |
|
Total Current
Liabilities (4) |
65.093 |
357.392 |
852.403 |
|
|
|
|
|
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TOTAL |
357.931 |
581.970 |
1045.086 |
|
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II.
ASSETS |
|
|
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|
(1)
Non-current assets |
|
|
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(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
134.517 |
129.906 |
134.586 |
|
(ii)
Intangible Assets |
1.529 |
2.523 |
4.027 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
22.672 |
26.876 |
19.281 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.020 |
33.107 |
43.816 |
|
(e) Other Non-current
assets |
5.292 |
5.292 |
0.317 |
|
Total Non-Current
Assets |
172.030 |
197.704 |
202.027 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
108.924 |
124.466 |
416.891 |
|
(c) Trade
receivables |
28.869 |
103.465 |
117.836 |
|
(d) Cash
and cash equivalents |
7.547 |
18.257 |
28.368 |
|
(e)
Short-term loans and advances |
40.561 |
138.078 |
268.361 |
|
(f) Other
current assets |
0.000 |
0.000 |
11.603 |
|
Total
Current Assets |
185.901 |
384.266 |
843.059 |
|
|
|
|
|
|
TOTAL |
357.931 |
581.970 |
1045.086 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
306.834 |
2819.393 |
3987.673 |
|
|
|
Other Income |
4.818 |
(0.092) |
(0.241) |
|
|
|
TOTAL |
311.652 |
2819.301 |
3987.432 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
44.145 |
50.303 |
8.309 |
|
|
|
Purchases of Stock-in-Trade |
76.871 |
2000.979 |
3822.603 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
23.064 |
313.920 |
(272.548) |
|
|
|
Employees benefits expense |
15.070 |
14.837 |
18.281 |
|
|
|
Other expenses |
125.720 |
344.924 |
323.760 |
|
|
|
Exceptional Items |
(1.081) |
(2.936) |
(1.081) |
|
|
|
TOTAL |
283.789 |
2722.027 |
3899.324 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
27.863 |
97.274 |
88.108 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
25.968 |
82.266 |
89.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.895 |
15.008 |
(1.213) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
13.577 |
14.210 |
14.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(11.682) |
0.798 |
(15.294) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.631) |
(15.993) |
(11.479) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(10.051) |
16.791 |
(3.815) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.34) |
0.16 |
(0.76) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(3.28) |
0.60 |
(0.10) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
9.08 |
3.45 |
2.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.48) |
0.14 |
(1.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06) |
0.00 |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.74 |
1.18 |
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86 |
1.08 |
0.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
135.641 |
152.432 |
142.381 |
|
Net
worth |
185.641 |
202.432 |
192.381 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
80.178 |
|
Short term borrowings |
369.762 |
238.979 |
62.289 |
|
Total
borrowings |
369.762 |
238.979 |
142.467 |
|
Debt/Equity
ratio |
1.992 |
1.181 |
0.741 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3987.673 |
2819.393 |
306.834 |
|
|
|
(29.297)
|
(89.117) |
NET PROFIT MARGIN
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3987.673 |
2819.393 |
306.834 |
|
Profit |
(3.815) |
16.791 |
(10.051) |
|
|
(0.10%) |
0.60% |
(3.28%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OUTLOOK
Real Estate:
The residential project 'Springfield' of 4.12 acres will commence in FY
2014-2015. The directors are looking forward for new projects and joint
ventures in coming financial year.
OPEARTIONS AND
BUSINESS PERFORMANCE:
The directors found potential investors in project 'Springfield' and
utilized those funds to reduce bank debt further by 45% ending the year at Rs.
142.500 Million as an outstanding debt and are hopeful to clear all bank debts
in FY 2014-2015.
CALCUTTA HIGH COURT
CASE STATUS INFORMATION SYSYTEM
Case Status : Pending
Status
of TEMP APO (APOT) 344 Of 2011
THE COMMISIONER OF CUSTOMS Vs. LGW LTD. & ORS.
Pet’s Adv. :
PROTANU DEB MUKHERJEE
Res’s Adv :
Court No. :
19 Last Listed On :
Tuesday, April 24, 2012
Category :
CUSTOMS : REVENUE
|
CONNECTED APPLICATION (S) No Connected Application. |
CONNECTED MATTER (S) fNo Connected Cases. |
Case Updated on : Tuesday, April 24, 2012
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
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.62.56 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
RNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
27 |
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.