MIRA INFORM REPORT

Report No. :	337009.2
Report Date :	17.08.2015

IDENTIFICATION DETAILS

Name :	ARCHIVERS EXIM PRIVATE LIMITED (w.e.f. 19.05.2014)
Formerly Known As :	RUPANI INFORMATION SYSTEMS PRIVATE LIMITED
Registered Office :	B/26, Matruchayya, S N Road, Near M C C College, Mulund (West), Mumbai-400080, Maharashtra
Tel. No.:	91-22-25934486
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.04.2005
Com. Reg. No.:	11-152707
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U51900MH2005PTC152707
IEC No.:	0314031022
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCR9956P
Legal Form :	Private Limited Liability Company
Line of Business :	Importer and Trader of Steel, Copper, Mobile, Hardware and Software, Microsoft Channel Partner for IT products.
No. of Employees :	20 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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
Comments :	Subject is an established private limited company having moderate track. Rating takes into consideration moderate financial risk profile of the company marked by very minimal networth base. However, company has reported some increase in its sales and net profit from its modest scale of operations in FY 14. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to medium 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, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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

NOT AVAILABLE

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 31-03-2013.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Rajesh Daulat Rupani
Designation :	Director
Contact No.:	91-9820140727
Date :	17.08.2015

LOCATIONS

Registered Office :	B/26, Matruchayya, S N Road, Near M C C College, Mulund (West), Mumbai-400080, Maharashtra, India
Tel. No.:	91-22-25934486
Mobile No.:	91-9820140727 (Mr. Rajesh Daulat Rupani) 91-9819841252 (Mr. Sunil)
Fax No.:	91-22-25934487
E-Mail :	roclakhanica@gmail.com archiversexim@gmail.com
Location :	Owned
Locality :	Commercial
Warehouse :	Located at: · Bhiwandi, Thane, Maharashtra, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Ropin Jaychand Nagda

Designation :

Director

Address :

305 Rishabh, Kalpanagari,, Bal Rajeshwar Road, Mulund (West), Mumbai-400080, Maharashtra, India

Date of Birth/Age :

09.02.1969

Date of Appointment :

17.02.2014

DIN No.:

00155562

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U52392MH2004PTC149965	RAY VISION TECH PRIVATE LIMITED	Director	13-12-2004	13-12-2004	Active	NO
2	U51900MH2005PTC152707	ARCHIVERS EXIM PRIVATE LIMITED	Director	17-02-2014	17-02-2014	Active	NO

Name :

Mr. Rajesh Daulat Rupani

Designation :

Director

Address :

C-58 Premnagar, Kopari Colony Thane(East), Thane, Mumbai-400603, Maharashtra, India

Date of Birth/Age :

08.04.1974

Date of Appointment :

19.04.2005

DIN No.:

00937439

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51900MH2005PTC152707	ARCHIVERS EXIM PRIVATE LIMITED	Director	19-04-2005	19-04-2005	-	Active	NO
2	U99999MH1995PLC086635	RIKHAV SECURITIES LIMITED	Director	13-01-2006	13-01-2006	13-01-2012	Active	NO
3	U74140MH2005PTC153501	RIKHAV INSURANCE BROKERS PRIVATE LIMITED	Director	30-05-2006	30-05-2006	31-03-2011	Active	NO
4	U74992MH2006PTC164190	4G IT SOLUTIONS (INDIA) PRIVATE LIMITED	Director	17-11-2006	17-11-2006	01-07-2011	Active	NO
5	U74992MH2006PTC164180	RIKHAV COMMODITY BROKERS PRIVATE LIMITED	Director	22-05-2008	17-11-2006	16-06-2013	Active	NO
6	U72900MH2010PTC198727	MAGIC I.T. SOLUTION PRIVATE LIMITED	Director	11-01-2010	11-01-2010	-	Active	NO
7	U52339MH2006PTC162483	AVAS TRADELINKS PRIVATE LIMITED	Director	01-06-2012	01-06-2012	-	Active	NO

Name :

Mr. Daulat Revachand Rupani

Designation :

Director

Address :

C-58, Prem Nagar, Kopari Colony, Thane (East), Mumbai-400603, Maharashtra, India

Date of Birth/Age :

20.10.1944

Date of Appointment :

19.04.2005

DIN No.:

01457919

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U51900MH2005PTC152707	ARCHIVERS EXIM PRIVATE LIMITED	Director	19-04-2005	19-04-2005	Active	NO
2	U72900MH2010PTC198727	MAGIC I.T. SOLUTION PRIVATE LIMITED	Director	11-01-2010	11-01-2010	Active	NO

Name :

Mr. Vinod Daulat Rupani

Designation :

Director

Address :

C/58, Prem Nagar Co-Operative Housing Society Limited, Kopari Colony, Thane East, Thane, Mumbai-400603, Maharashtra, India

Date of Birth/Age :

18.04.1972

Date of Appointment :

19.04.2005

DIN No.:

02762247

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U51900MH2005PTC152707	ARCHIVERS EXIM PRIVATE LIMITED	Director	19-04-2005	19-04-2005	Active	NO
2	U72900MH2010PTC198727	MAGIC I.T. SOLUTION PRIVATE LIMITED	Director	11-01-2010	11-01-2010	Active	NO
3	U52339MH2006PTC162483	AVAS TRADELINKS PRIVATE LIMITED	Director	01-06-2012	01-06-2012	Active	NO

Name :

Mrs. Rani Ropin Nagda

Designation :

Director

Address :

B-305, Rishabh, Kalp Nagri, Balrajeshwar Road, Vaishali Nagar, Mulund (West), Mumbai-400080, Maharashtra, India

Date of Birth/Age :

15.04.1976

Date of Appointment :

17.02.2014

DIN No.:

06815945

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Rajesh Daulat Rupani	910
Vinod Daulat Rupani	909
Daulat Revachand Rupani	909
Kavita Rupani	909
Sunil Bansilal Jaisingh	909
Rajesh Rupani (HUF)	909
Sneha Rupani	909
Heena Rupani	909
Ropin Jaychand Nagda	909
Rani Ropin Nagda	909
Vinod Rupani (HUF)	909
Total	10000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Importer and Trader of Steel, Copper, Mobile, Hardware and Software, Microsoft Channel Partner for IT products.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	Dubai
Imports :
Products :	Metals
Countries :	· South Africa · China · Taiwan
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Retailers and End Users

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

20 (Approximately)

Bankers :

Bank Name:	Punjab and Maharashtra Co-Operative Bank
Branch:	Airoli (Branch), Navi Mumbai, Maharashtra, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Archivers Exim Private Limited
Account Number:	018110100000999
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Cash Credit=Rs. 40.000 Million
Account Operation:	Not Divulged
Remarks:	Not Divulged

Facilities :

--

Banking Relations :	--
Auditors :
Name :	Vishal Saxena and Company Chartered Accountants
Address :	9, Pratiksha Apartments, Near Shivai School, Bhandup (East), Mumbai-400042, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ATUPS7071E
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital : Rs. 3.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 1.600 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

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	0.100	0.100	0.100
(b) Reserves & Surplus	2.095	1.167	0.489
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	1.014	0.000	0.000
Total Shareholders’ Funds (1) + (2)	3.209	1.267	0.589
(3) Non-Current Liabilities
(a) Long-term borrowings	4.755	0.123	0.123
(b) Deferred tax liabilities (Net)	0.360	0.370	0.124
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.008
Total Non-current Liabilities (3)	5.115	0.493	0.255
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	7.101	13.167	5.320
(c) Other current liabilities	0.001	1.794	1.000
(d) Short-term provisions	0.187	0.078	0.354
Total Current Liabilities (4)	7.289	15.039	6.674
TOTAL	15.613	16.799	7.518
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.443	2.405	0.063
(ii) Intangible Assets	0.000	0.000	0.000
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.104	0.107	0.000
(e) Other Non-current assets	0.000	0.000	0.059
Total Non-Current Assets	1.547	2.512	0.122
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.556	7.084	0.276
(c) Trade receivables	8.278	6.964	7.042
(d) Cash and cash equivalents	0.209	0.216	0.043
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	0.023	0.023	0.035
Total Current Assets	14.066	14.287	7.396
TOTAL	15.613	16.799	7.518

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		32.213	27.714
		Other Income		0.023	0.009
		TOTAL (A)	71.870	32.236	27.723
Less	EXPENSES
		Cost of Materials Consumed		29.243	26.512
		Employees benefits expense		0.089	0.768
		Other expenses		0.200	0.298
		Exceptional Items		0.033	0.000
		TOTAL (B)	69.663	29.565	27.578
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.207	2.671	0.145
Less	FINANCIAL EXPENSES (D)		0.033	0.001	0.001
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.174	2.670	0.144
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.962	1.533	0.042
	PROFIT BEFORE TAX (E-F) (G)		1.212	1.137	0.102
Less	TAX (H)		0.284	0.459	(0.026)
	PROFIT AFTER TAX (G-H) (I)		0.928	0.678	0.128
	Earnings Per Share (Rs.)		92.77	67.84	12.76

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	NA	2.10	0.46
Operating Profit Margin (PBDIT/Sales)	(%)	NA	8.29	0.52
Return on Total Assets (PBT/Total Assets}	(%)	7.76	6.77	1.36
Return on Investment (ROI) (PBT/Networth)		0.38	0.90	0.17
Debt Equity Ratio (Total Liability/Networth)		1.48	0.10	0.21
Current Ratio (Current Asset/Current Liability)		1.93	0.95	1.11

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

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	0.100	0.100	0.100
Reserves & Surplus	0.489	1.167	2.095
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	1.014
Net worth	0.589	1.267	3.209
Long-term borrowings	0.123	0.123	4.755
Short term borrowings	0.000	0.000	0.000
Total borrowings	0.123	0.123	4.755
Debt/Equity ratio	0.209	0.097	1.482

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)
Total Income	27.723	32.236	71.870
		16.279	122.949

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	27.723	32.236	71.870
Profit	0.128	0.678	0.928
	0.46%	2.10%	1.29%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	Yes
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10558057	17/03/2015	30,000,000.00	PUNJAB AND MAHARASHTRA CO-OPERATIVE BANK LIMITED	OFFICE NO. 4-5, 3RD FLOOR, DREAMS MALL, L.B.S. M ARG, BHANDUP (WEST), MUMBAI-400078, MAHARASHTRA, INDIA	C48332787

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Avas Tiadelink Private Limited	2.682	0.000
Rani Nagda	0.950	0.000
Ropin Nagda	1.000	0.000
Sunil Jiasingh	0.123	0.123
Total	4.755	0.123

PERFORMANCE DURING THE FINANCIAL YEAR:

BUSINESS PERFORMANCE AND FUTURE DEVELOPMENTS

The Company has earned a profit of Rs.0.928 Million during the Financial year as against Rs. 0.678 Million during the previous Financial Year.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records 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 records 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. 65.12
UK Pound	1	Rs. 101.62
Euro	1	Rs. 72.56

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KIN
Report Prepared by :	IND

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	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--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	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		31

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	--

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.