MIRA INFORM REPORT

Report No. :	320687
Report Date :	30.04.2015

IDENTIFICATION DETAILS

Name :	WIRAC AUTOMATION LIMITED
Formerly Known As :	WIRA AUTOMATION LIMITED
Registered Office :	5, Parker Court, Metrocentre East Ind. Estate, St. Omers Road, Gateshead, NE11 9EW
Country :	United Kingdom
Financials (as on) :	30.09.2014
Date of Incorporation :	14.10.1992
Com. Reg. No.:	02624327
Legal Form :	Private Limited with Share Capital
Line of Business :	· Manufacture of Electric Motors, Generators and Transformers. · Design, Manufacture and Installation of Electrical Control Panels.
No. of Employees :	Not Available

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 third largest economy in Europe after Germany and France. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. In 2008, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of 375 billion (approximately $586 billion) as of December 2014. 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, however, in 2013 GDP grew 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

Source : CIA

Company Name and address

Company Name: WIRAC AUTOMATION LIMITED

Company No: 02624327

Company Status: Active - Accounts Filed

Registered Address: 5, PARKER COURT, METROCENTRE EAST IND. ESTATE, ST.OMERS ROAD, GATESHEAD, NE11 9EW

Company Summary

Registered Address 5,PARKER COURT, METROCENTRE EAST IND. ESTATE,
ST.OMERS ROAD, GATESHEAD, NE11 9EW

Trading Address 5 Parker Court, Dunston Gateshead, Tyne and Wear, NE11 9EW

Website Address http://www.wirac.co.uk

Telephone Number 01914603577

Fax Number --

TPS No

FPS No

Incorporation Date 27/06/1991

Previous Name WIRA AUTOMATION LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 14/10/1992

Filing Date of Accounts 18/02/2015

Currency GBP

Share Capital £7,500

SIC07 27110

Charity Number -

SIC07 Description MANUFACTURE OF ELECTRIC MOTORS, GENERATORS AND TRANSFORMERS

Principal Activity Design, manufacture and installation of electrical control panels.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

30/09/2014 - - £103,155 -

30/09/2013 - - £42,296 -

30/09/2012 £1,472,898 £74,671 £56,241 -

Mortgage summary

Total Mortgage 9

Outstanding 5

Satisfied 4

Trade Debtors/ Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company has been treated as a Small company in respect of the rating/limit generated.

This company has made late payments on a medium percentage of invoices.

The latest Balance Sheet indicates a positive net working capital position.

There has been an increase in shareholders’ funds compared with the previous balance sheet.

This company trades in an industry with a moderate level of corporate failures.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Total Current Directors	3
Total Current Secretaries	1
Total Previous Directors/ Company Secretaries	4

Current Directors

Name	William Johnston	Date of Birth	03/08/1960
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	02/07/1991
Address	5,parker Court,, Metrocentre East Ind. Estate,, St.omers Road, Gateshead,, Tyne & Wear., NE11 9EW

Name	Ian Houghton	Date of Birth	26/07/1948
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/08/1991
Address	12 Glendale Close, Winlaton, Blaydon On Tyne, Tyne & Wear, NE21 6HD

Name	Duncan Bradley	Date of Birth	29/03/1972
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	01/09/2009
Address	5,parker Court,, Metrocentre East Ind. Estate,, St.omers Road, Gateshead,, Tyne & Wear., NE11 9EW

Current Company Secretary

Name	William Johnston	Date of Birth	03/08/1960
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	02/07/1991
Address	5,parker Court,, Metrocentre East Ind. Estate,, St.omers Road, Gateshead,, Tyne & Wear., NE11 9EW

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MARGARET JOHNSTON	GBP	1,875	ORDINARY	1	25
MR IAN HOUGHTON	GBP	1,875	ORDINARY	1	25
MR WILLIAM LEOPOLD JOHNSTON	GBP	1,875	ORDINARY	1	25
DUNCAN BRADLEY	GBP	1,775	ORDINARY	1	23.67
STEPHEN PRATT	GBP	50	ORDINARY	1	0.67
SIMON JEWERS	GBP	50	ORDINARY	1	0.67

Financials

Profit & Loss

	Date Of Accounts	30/09/14	(%)	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	-	-	-	-	£1,472,898	44.7%	£1,017,803	11.6%	£911,857
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-100%	£1,223,394	56.6%	£781,282	14.4%	£683,076
	Gross Profit	-	-	-	-	£249,504	5.5%	£236,521	3.4%	£228,781
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	£19,360	-1.5%	£19,652	0.8%	£19,490
	Operating Profit	-	-	-	-	£75,431	-22.7%	£97,592	14.6%	£85,183
	Depreciation	£2,745	-16.8%	£3,300	-51.9%	£6,859	-12.7%	£7,861	118.4%	£3,600
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	£760	-	-	-	-
	Pre Tax Profit	-	-	-	-	£74,671	-23.5%	£97,592	13.5%	£85,987
	Taxation	-	-	-	-	-£8,522	52.1%	-£17,798	-18.1%	-£15,073
	Profit After Tax	-	-	-	-	£66,149	-17.1%	£79,794	12.5%	£70,914
	Dividends Payable	-	-	-	-	£71,060	9.1%	£65,160	2.3%	£63,710
	Retained Profit	-	-	-	-	-£4,911	-133.6%	£14,634	103.1%	£7,204

Balance Sheet

	Date Of Accounts	30/09/14	(%)	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10
	Tangible Assets	£133,530	38.7%	£96,275	-3.3%	£99,575	-6.5%	£106,534	-4.5%	£111,525
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£133,530	38.7%	£96,275	-3.3%	£99,575	-6.5%	£106,534	-4.5%	£111,525
	Stock	0	-100%	£61,000	-	0	-	0	-	0
	Trade Debtors	£381,676	16.3%	£328,212	-10.1%	£364,914	16.6%	£313,011	57.3%	£198,941
	Cash	£12,742	999.9%	£12	-100%	£35,451	309.3%	£8,662	-59.1%	£21,202
	Other Debtors	0	-	0	-100%	£25,777	99.7%	£12,905	163.7%	£4,893
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£394,418	1.3%	£389,224	-8.7%	£426,142	27.4%	£334,578	48.7%	£225,036
	Trade Creditors	£329,039	-22.6%	£425,233	-4.5%	£445,115	147.9%	£179,522	68.7%	£106,438
	Bank Loans & Overdrafts	0	-	0	-	0	-100%	£156,597	43.4%	£109,184
	Other Short Term Finance	0	-	0	-	0	-100%	£6,290	-78.1%	£28,677
	Miscellaneous Current Liabilities	0	-	0	-	0	-100%	£32,745	-18.6%	£40,208
	Total Current Liabilities	£329,039	-22.6%	£425,233	-4.5%	£445,115	18.6%	£375,154	31.9%	£284,507
	Bank Loans & Overdrafts and LTL	£95,754	432.9%	£17,970	-26.2%	£24,361	-84.7%	£159,236	41.5%	£112,553
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£95,754	432.9%	£17,970	-26.2%	£24,361	823.1%	£2,639	-21.7%	£3,369

.

Capital & Reserves

	Date Of Accounts	30/09/14	(%)	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10
	Called Up Share Capital	£7,500	-	£7,500	-	£7,500	-	£7,500	-	£7,500
	P & L Account Reserve	£55,655	59.9%	£34,796	-28.6%	£48,741	-12.7%	£55,819	35.5%	£41,185
	Revaluation Reserve	£40,000	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£103,155	143.9%	£42,296	-24.8%	£56,241	-11.2%	£63,319	30.1%	£48,685

Other Financial Items

	Date Of Accounts	30/09/14	(%)	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10
	Net Worth	£103,155	143.9%	£42,296	-24.8%	£56,241	-11.2%	£63,319	30.1%	£48,685
	Working Capital	£65,379	281.6%	-£36,009	-89.8%	-£18,973	53.2%	-£40,576	31.8%	-£59,471
	Total Assets	£527,948	8.7%	£485,499	-7.7%	£525,717	19.2%	£441,112	31.1%	£336,561
	Total Liabilities	£424,793	-4.2%	£443,203	-5.6%	£469,476	24.3%	£377,793	31.2%	£287,876
	Net Assets	£103,155	143.9%	£42,296	-24.8%	£56,241	-11.2%	£63,319	30.1%	£48,685

Cash Flow

	Date Of Accounts	30/09/14	(%)	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	30/09/14	(%)	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£198,909	230.1%	£60,266	-25.2%	£80,602	22.2%	£65,958	26.7%	£52,054
	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	BARCLAYS BANK PLC
	Bank Branch Code	20-33-51

Ratios

	Date Of Accounts	30/09/14	30/09/13	30/09/12	30/09/11	30/09/10
	Pre-tax profit margin %	-	-	5.07	9.59	9.43
	Current ratio	1.20	0.92	0.96	0.89	0.79
	Sales/Net Working Capital	-	-	-77.63	-25.08	-15.33
	Gearing %	92.80	42.50	43.30	251.50	231.20
	Equity in %	19.50	8.70	10.70	14.40	14.50
	Creditor Days	-	-	110	64.20	42.48
	Debtor Days	-	-	90.18	111.94	79.41
	Liquidity/Acid Test	1.19	0.77	0.95	0.89	0.79
	Return On Capital Employed %	-	-	92.64	147.96	165.18
	Return On Total Assets Employed %	-	-	14.20	22.12	25.54
	Current Debt Ratio	3.18	10.05	7.91	5.92	5.84
	Total Debt Ratio	4.11	10.47	8.34	5.96	5.91
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	132.76	154.12	176.61

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
05/03/2015	New Accounts Filed
05/03/2015	New Accounts Filed
08/07/2014	New Accounts Filed
08/07/2014	New Accounts Filed
13/09/2013	Annual Returns
16/07/2013	New Accounts Filed
17/11/2012	Annual Returns
28/03/2012	New Accounts Filed
28/03/2012	New Accounts Filed
14/10/2011	Annual Returns
12/02/2011	New Accounts Filed
27/11/2010	Annual Returns
22/03/2010	New Accounts Filed
18/03/2010	New Board Member Mr D. Bradley appointed
21/09/2009	Annual Returns

Previous Company Names

Date	Previous Name
14/10/1992	WIRA AUTOMATION LIMITED
24/07/1991	CHARMEXTRA LIMITED

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group Structure Full

No Group Structure

Mortgage Details

Mortgage Type:
Date Charge Created:	29/09/14
Date Charge Registered:	30/09/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS BANK PLC;
Amount Secured:
Details:	5 PARKER COURT, METRO CENTRE EAST INDUSTRIAL ESTATE, ST OMERS ROAD, GATESHEAD L/H T/NO:TY353511CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.CONTAINS NEGATIVEPLEDGE.
Mortgage Type:
Date Charge Created:	18/12/13
Date Charge Registered:	20/12/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:	ALL ASSETS DEBENTURE
Date Charge Created:	31/03/10
Date Charge Registered:	07/04/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS TSB COMMERCIAL FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	20/06/05
Date Charge Registered:	07/07/05
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	L/H PROPERTY K/A 5 PARKER COURT METROCENTRE EAST INDUSTRIAL ESTATE ST OMERS ROAD GATESHEAD TYNE ANDWEAR T/NO TY353511

Mortgage Type:	DEBENTURE
Date Charge Created:	01/05/05
Date Charge Registered:	14/05/05
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY
Mortgage Type:	DEBENTURE
Date Charge Created:	30/07/03
Date Charge Registered:	31/07/03
Date Charge Satisfied:	27/03/10
Status:	SATISFIED
Person(s) Entitled:	VENTURE FINANCE PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	01/05/98
Date Charge Registered:	14/05/98
Date Charge Satisfied:	27/03/10
Status:	SATISFIED
Person(s) Entitled:	NORTHERN ROCK BUILDING SOCIETY
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE COMMERCIAL MORTGAGE CONDITIONS 1993 OF THE SOCIETY AS FROM TIME TO TIMESUPPLEMENTED OR VARIED
Details:	5 PARKER COURT METRO CENTRE EAST INDUSTRIAL ESTATE ST. OMERS ROAD GATESHEAD NE11 9EW BY WAY OF ASSIGNMENT THE GOODWILL OF THE BUSINESS THE BENEFIT OF THE LICENCES AND THE BENEFITS RESPECTIVELY CARRIEDON OR ARISING IN RESPECT OF THE PROPERTIES PROVIDED THAT THE SAME SHALL BE RE-ASSIGNED ON REPAYMENTOF THE SECURED MONIES, BY WAY OF FLOATING CHARGE THE UNDERTAKING OF THE COMPANY AND ALL ITS OTHER PROPERTY AND ASSETS BOTH PRESENT AND FUTURE.
Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	26/07/95
Date Charge Registered:	03/08/95
Date Charge Satisfied:	27/03/10
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL GOODWILL BOOKDEBTS AND PATENTS

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	12/07/93
Date Charge Registered:	16/07/93
Date Charge Satisfied:	10/07/03
Status:	SATISFIED
Person(s) Entitled:	CO-OPERATIVE BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Alan Mohan	0	1
Raymond Curry	2	3
INSTANT COMPANIES LIMITED	2431	120340
SWIFT INCORPORATIONS LIMITED	2579	263489

Average Invoice Value	Ł393.74
Invoices available	148
Paid	138
Outstanding	10

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	31	63	27	13	4
Outstanding	2	3	3	2	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.20
UK Pound	1	Rs.97.01
Euro	1	Rs.69.34

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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 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.