MIRA INFORM REPORT
|
Report No. : |
338306 |
|
Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIDHATA METAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Room No.2, 2nd Floor, House No. 280, Pocket – 7, Sector – 24,
Rohini, New Delhi - 110085 |
|
Tel. No.: |
91-11-25933362 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.03.2008 |
|
|
|
|
Com. Reg. No.: |
55-175013 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.29.266 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310DL2008PTC175013 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV7222J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of MS Billets |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company incorporated during the year 2008
having a moderate track record. Management of the company has not filed its financial with the government
department for the year 2014. As per ROC the date of balance sheet (i.e. financial filed) is shown
as 31.03.2013 but the documents related to the financial for the year 2013
and 2012 are not available from any sources. Mr. Prashant Malbari (Account Manager) provided general information
and denied to disclose financial details. However, business is active. Payment terms are unknown. In view of lack of financial information, company can be considered for
business dealings on a secured 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term= B (Suspended) |
|
Rating Explanation |
High risk of default. |
|
Date |
12.11.2013 |
Reason for suspended: Non-cooperation by the
company to undertake rating.
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. Prashant Malbari |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-21643362 |
|
Date : |
25.08.2015 |
LOCATIONS
|
Registered Office : |
Room No.2, 2nd Floor, House No. 280, Pocket – 7, Sector –
24, Rohini, New Delhi – 110085, India |
|
Tel. No.: |
91-11-25933362 |
|
Fax No.: |
91-11-25933349 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Gut No. 74/2, Village – Varle, Ta-Wada, District – Thane, Maharashtra,
India |
|
|
|
|
Head Office: |
C-2/18, Prashant Vihar, Rohini, Delhi – 110085, India |
|
Tel. No.: |
91-11-27561401 |
|
|
|
|
Corporate Office : |
Office No. 10, 1st Floor, “A” Wing, Golden Willows, Sapna
Nagari, Near Vasant Garden, Mulund West, Mumbai – 400080, Maharashtra, India |
|
Tel. No.: |
91-22-21643362 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ishwar Goganram Samota |
|
Designation : |
Director |
|
Address : |
201, Mount Palace, Yogi Hill, Mulund West, Mumbai - 400080, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1964 |
|
Date of Appointment : |
07.03.2008 |
|
DIN No.: |
01261522 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Garg |
|
Designation : |
Director |
|
Address : |
18A, Samay Vihar Apartments, Rohini Sector-13, New Delhi - 110085, India |
|
Date of Birth/Age : |
08.02.1967 |
|
Date of Appointment : |
12.04.2011 |
|
DIN No.: |
03498128 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Malbari |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sandeep Kumar |
758600 |
25.92 |
|
Ishwar Goganram Samota |
606000 |
20.71 |
|
Anil Kumar |
1312000 |
44.83 |
|
Rahit Hooda |
250000 |
8.54 |
|
|
|
|
|
Total |
2926600 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
20.71 |
|
Other |
79.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of MS Billets |
|
|
|
|
Products : |
MS Billets |
|
|
|
|
Brand Names : |
Not Divulged |
|
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|
Agencies Held : |
Not Divulged |
|
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
|
|
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Terms : |
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Selling : |
Cheque, Credit (30 Days) |
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|
|
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Purchasing : |
Cheque, Credit (30 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Yashavant Anil Rajshree and Associates Chartered Accountants |
|
Address : |
2, Dhariya Co-Operative Housing Society, Ground Floor, Opposite Saraswati School (Marathi Medium), Bhaskar Colony, Naupada, Thane - 400602, Maharashtra, India |
|
Tel. No.: |
91-22-25391525 |
|
PAN No.: |
AAAFY5835F |
|
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|
|
Memberships : |
Not Divulged |
|
|
|
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Collaborators : |
Not Divulged |
|
|
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AFTER ON
30.09.2013
Authorized Capital: Rs. 35.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 33.766
Million
AS ON 31.03.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,926,600 |
Equity Shares |
Rs.10/- each |
Rs. 29.266 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.266 |
29.266 |
0.100 |
|
|
2] Share Application Money |
97.600 |
0.000 |
18.011 |
|
|
3] Reserves & Surplus |
18.428 |
0.448 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
145.294 |
29.714 |
18.111 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
143.569 |
155.057 |
0.647 |
|
|
2] Unsecured Loans |
0.000 |
0.250 |
4.500 |
|
|
TOTAL BORROWING |
143.569 |
155.307 |
5.147 |
|
|
DEFERRED TAX LIABILITIES |
2.117 |
1.043 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
290.981 |
186.064 |
23.258 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
138.282 |
127.894 |
16.083 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
138.325
|
81.711 |
0.000 |
|
|
Sundry Debtors |
29.076
|
6.301 |
0.000 |
|
|
Cash & Bank Balances |
0.371
|
0.079 |
0.396 |
|
|
Other Current Assets |
35.500
|
13.289 |
11.178 |
|
|
Loans & Advances |
24.850
|
14.609 |
0.000 |
|
Total
Current Assets |
228.122
|
115.989 |
11.574 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
72.488
|
57.386 |
4.753 |
|
|
Provisions |
3.264
|
0.873 |
0.045 |
|
Total
Current Liabilities |
75.752
|
58.259 |
4.798 |
|
|
Net Current Assets |
152.369 |
57.730 |
6.776 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.330 |
0.440 |
0.399 |
|
|
|
|
|
|
|
|
TOTAL |
290.981 |
186.064 |
23.258 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1216.000 |
365.600 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
12.788 |
17.553 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.532 |
13.068 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
9.256 |
4.485 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
31.63 |
15.32 |
0.000 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from used in operating activities |
(85.341) |
(48.377) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
4.39
|
2.41 |
0.000 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.59 |
0.000 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.99
|
5.23 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.01
|
1.99 |
2.41 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
0.100 |
29.266 |
29.266 |
|
Reserves & Surplus |
0.000 |
0.448 |
18.428 |
|
Share
Application Money |
18.011 |
0.000 |
97.600 |
|
Net
worth |
18.111 |
29.714 |
145.294 |
|
|
|
|
|
|
Secured Loans |
0.647 |
155.057 |
143.569 |
|
Unsecured
Loans |
4.500 |
0.250 |
0.000 |
|
Total
borrowings |
5.147 |
155.307 |
143.569 |
|
Debt/Equity
ratio |
0.284 |
5.227 |
0.988 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2010 |
31.03.2011 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales |
|
365.600 |
1216.000 |
|
|
|
|
232.604 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2010 |
31.03.2011 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales
|
|
365.600 |
1216.000 |
|
Profit |
|
4.485 |
9.256 |
|
|
|
1.23% |
0.76% |
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 |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
Yes |
|
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 |
Note: Registered Office
of the company has been shifted from “C-2/18, Prashant Vihar, Rohini New
Delhi-110085, India” to the present address w.e.f. 01.07.2011.
ACTIVITIES (AS ON
31.03.2011):
During the year ended 31-03-2011 the company has reached a turnover of Rs. 1216.200 million as against Rs.365.600 million of previous year and net profit of Rs.12.788 Million against net profit of Rs. 1.700 Million of previous year, after providing for depreciation and remuneration to directors but before provision for income tax. During The Year Company has taken share application money amounted to Rs. 97.600 Million in words which shall be converted in to share paid up equity share capital in coming financial year. This Share Application Money Was Raised to strengthen financial position of Company.
UNSECURED LOANS:
|
Particulars |
31.03.2011 Rs. In Million |
31.03.2010 Rs. In Million |
|
|
|
|
|
Other debt unsecured |
0.000 |
0.250 |
|
|
|
|
|
Total |
0.000 |
0.250 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10366454 |
11/03/2014 * |
379,600,000.00 |
State Bank Of India |
Diamond Garden Branch, Swastik Chamber, 1st Floor, Sion Trombay Road, Chembur, Mumbai - 400071, Maharashtra, India |
C04250239 |
*Date of modification Charges
FIXED ASSETS:
· Land
· Building
· Plant machinery
· Furniture fixtures
· Vehicles
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.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
18 |
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.