MIRA INFORM REPORT

 

 

Report No. :

337519

Report Date :

20.08.2015

 

IDENTIFICATION DETAILS

 

Name :

MITHABHI LAMPS PRIVATE LIMITED

 

 

Registered Office :

1307, 13th Floor, Pragati Tower,  Rajendra Place, New Delhi - 110008

Tel. No.:

Not Available

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

10.08.1998

 

 

Com. Reg. No.:

55-095470

 

 

Capital Investment / Paid-up Capital :

Rs. 9.183 Million

 

 

CIN No.:

[Company Identification No.]

U31510DL1998PTC095470

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Automotive Bulbs and Lamps

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in 1998. It is engaged in manufacturing of bulbs (stop, direction, tail, reverse bulbs). Subject is an established company having satisfactory track record.

 

Subject has achieved a total operating income of Rs. 407.600 Million and PAT of Rs. 11.600 Million as compared with a total operating income of Rs. 336.100 Million and PAT of Rs. 11.800 Million for FY13.

 

Rating also takes into consideration experienced promoters with long track record of operations along with growing scale of operations and sound financial base of the company.

 

However, rating strength partially offset by working capital intensive nature of operation and presence of the company in the highly competitive automobile components manufacturing industry.

 

Trade relations are reported as fair. Payment term are reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date. nnnnnnnnnn

 

 

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

 

Rating Agency Name

CARE

Rating

Long- Term Bank Facilities = BB

Rating Explanation

Inadequate-credit-quality and high credit risk.

Date

26.03.2015

 

Rating Agency Name

CARE

Rating

Short –Term Bank Facilities = A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

26.03.2015

 

 

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 DENIED BY

 

Name :

Mr. Sumit Mohan Sinha

Designation :

Director

Contact No.:

91-8045338594

Date :

19.08.2015

 

 

LOCATIONS

 

Registered Office :

1307, 13th Floor, Pragati Tower,  Rajendra Place, New Delhi – 110008, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

mail@bkg.co.in

accounts@fokallamps.com

Website :

 

 

 

Factory:

16/4, Mathura Road  Faridabad – 121002, Haryana, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Sumit Mohan Sinha

Designation :

Director

Address :

497, Sector - 14, Faridabad, 121007, Haryana, India

Date of Birth/Age :

15.04.1974

Date of Appointment :

10.08.1998

DIN No.:

00399686

 

 

Name :

Ms. Sheela Sinha

Designation :

Director

Address :

497, Sector - 14, Faridabad, 121007, Haryana, India

Date of Birth/Age :

30.12.1950

Date of Appointment :

10.08.1998

DIN No.:

00399968

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

U31501HR1988PTC030368

J S LIGHTING PRIVATE LIMITED

Director

20/09/1988

20/09/1988

-

Strike off

NO

2

U31510DL1998PTC095470

MITHABHI LAMPS PRIVATE LIMITED

Director

10/8/1998

10/8/1998

-

Active

NO

 

 

Name :

Mr. Vidyut Sinha

Designation :

Director

Address :

497, Sector - 14, Faridabad, 121007, Haryana, India

Date of Birth/Age :

22.06.1984

Date of Appointment :

28.06.2011

DIN No.:

00400487

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

U31909DL2004PTC124851

J S LAMPS PRIVATE LIMITED

Director

25/02/2004

25/02/2004

1/2/2011

Active

NO

2

U31510DL1998PTC095470

MITHABHI LAMPS PRIVATE LIMITED

Director

28/06/2011

1/2/2011

-

Active

NO

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Sumit .M.Sinha

 

522720

Sheela Sinha

 

100110

Sh M.K.Sinha

 

84900

Sinha and Sons Huf

 

10200

Vidyut Sinha

 

200400

Total

 

918330

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Automotive Bulbs and Lamps

 

 

Products :
  • Aircraft Wheel Inspecting Light
  • Cabin and Cargo Light
  • Taxi/ Landing Light For Lca Mirage
  • Fin Tip Navigation Light
  • Cockpit Instrument Lighting Lamp
  • Aircraft Identification
  • Runway Approach Lamp etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :
  • ICICI Bank Limited
  • HDFC Bank Limited

 

Banker Name

Canara Bank

Branch Address

8a, Nehru Ground, Nit, Faridabad - 121001, Haryana, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans From Banks

35.593

42.975

Total

35.593

42.975

 

Banking Relations :

Hero Honda Finlease Limited, 34 Community Centre, Basant Lok, Vasant Lok,

Vasan Vihar, New Delhi - 110057, India

 

 

Auditors :

 

Name :

B K G and Company

Chartered Accountants

Address :

E – 37, First Floor, Nehru Ground, NIT, Faridabad – 121001, Haryana, India

Tel No.:

91-129-4066100

Fax No.:

91-129-4066100

Email:

mail@bkg.co.in

bkgoyalca@gmail.com

Website:

http://www.bkg.co.in

PAN N Income-tax PAN of auditor or auditor's firm :

AAFFD2164F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related Party :

A.V Career

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

918330

Equity Shares

Rs.10/- each

Rs. 9.183 Million

 

 

 

 

 

 

 [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

9.183

4.183

4.183

(b) Reserves & Surplus

48.101

36.775

24.951

(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)

57.284

40.958

29.134

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

67.344

70.102

45.896

(b) Deferred tax liabilities (Net)

4.600

3.150

1.811

(c) Other long term liabilities

0.000

0.000

0.219

(d) long-term provisions

0.000

0.000

1.789

Total Non-current Liabilities (3)

71.944

73.252

49.715

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

64.658

52.459

39.841

(c) Other current liabilities

86.518

82.935

74.468

(d) Short-term provisions

6.664

5.511

0.015

Total Current Liabilities (4)

157.840

140.905

114.324

 

 

 

 

TOTAL

287.068

255.115

193.173

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

109.393

112.287

70.637

(ii) Intangible Assets

0.698

0.846

0.410

(iii) Capital work-in-progress

6.973

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)

1.267

0.932

0.000

(d)  Long-term Loan and Advances

0.441

0.441

0.421

(e) Other Non-current assets

0.077

0.105

0.157

Total Non-Current Assets

118.849

114.611

71.625

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.750

0.429

5.210

(b) Inventories

57.096

27.704

27.186

(c) Trade receivables

97.215

99.650

71.278

(d) Cash and cash equivalents

0.322

0.289

0.214

(e) Short-term loans and advances

13.080

12.417

17.358

(f) Other current assets

0.056

0.015

0.302

Total Current Assets

168.519

140.504

121.548

 

 

 

 

TOTAL

287.368

255.115

193.173

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

407.633

336.084

343.148

 

Other Income

NA 

NA 

NA 

 

TOTAL

NA 

NA 

NA 

 

 

 

 

 

 

EXPENSES

NA 

NA 

NA 

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION

31.116

28.234

26.436

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

13.113

13.493

11.468

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

18.003

14.741

14.968

 

 

 

 

 

 

TAX

7.048

8.404

5.120

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

11.626

11.824

9.123

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

35.478

23.654

14.531

 

 

 

 

 

 

Balance Carried to the B/S

47.104

35.478

23.654

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

0.000

0.103

0.503

 

TOTAL EARNINGS

0.000

0.103

0.503

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

76.901

31.629

40.343

 

Components and Stores parts

2.182

0.793

0.989

 

Advance To Suppliers

0.000

0.247

0.000

 

Advance Against Capital Goods- Machinery

0.000

0.000

14.786

 

Capital Goods - Software

0.000

0.199

0.230

 

Capital Goods- Machinery

3.232

5.530

0.075

 

TOTAL IMPORTS

82.315

38.398

56.423

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 12.66

12.88 

9.93 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

7.382

9.142

15.896

Cash generated from operations

NA 

NA 

NA 

Net cash flows from (used in) operations

NA 

NA 

NA 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.85

3.52

2.66

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

7.63

8.40

7.70

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.45

5.80

7.75

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.31

0.36

0.51

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.30

1.93

2.12

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.07

1.00

1.06

 

 

 

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

4.183

4.183

9.183

Reserves & Surplus

24.951

36.775

48.101

Net worth

29.134

40.958

57.284

 

 

 

 

long-term borrowings

45.896

70.102

67.344

Short term borrowings

0.000

0.000

0.000

Current maturities of long-term debts

15.896

9.142

7.382

Total borrowings

61.792

79.244

74.726

Debt/Equity ratio

2.121

1.935

1.304

 

 

 

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

343.148

336.084

407.633

 

 

(2.059)

21.289

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

343.148

336.084

407.633

Profit

9.123

11.824

11.626

 

2.66%

3.52%

2.85%

 

 

 

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)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from 501 Polkete Mayur Vihar Phase Ii New Delhi – 110019, India to the present address w.e.f. 01.11.2010

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans From Other Parties

7.781

0.000

Loans and Advances from Related Parties

23.970

27.127

Total

31.751

27.127

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

90038504

28/03/2015 *

115,000,000.00

CANARA BANK

8A, NEHRU GROUND, NIT, FARIDABAD, HARYANA - 121001, INDIA

C58845181

2

90034970

10/12/1998

1,000,000.00

CENTRAL BANK OF INDIA

NEHRU PLACE BRANCH, NEW DELHI, INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible Assets

 

 

Intangible Assets

 

 

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 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.65.25

UK Pound

1

Rs.102.25

Euro

1

Rs.72.20

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

--

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

43

 

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

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NB

                                       New Business

 

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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.