MIRA INFORM REPORT

Report No. :	352585
Report Date :	03.12.2015

IDENTIFICATION DETAILS

Name :	J V GOKAL AND COMPANY PRIVATE LIMITED

Registered Office :	Kasturi Building, 2nd Floor, 171/172, Jamshedji Tata Road, Mumbai – 400020, Maharashtra
Tel. No.:	91-22-22026413

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	10.04.1950

Com. Reg. No.:	11-008051

Capital Investment / Paid-up Capital :	Rs.382.396 Million

CIN No.: [Company Identification No.]	U51900MH1950PTC008051

IEC No.:	0388183870

TAN No.: [Tax Deduction & Collection Account No.]	MUMJ04259D

PAN No.: [Permanent Account No.]	AAACJ1222A

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged into Manufacturer, Exporter and Marketing of Packed Tea, Tea Bags, Specialty Teas, Tea Flavours etc. (Confirmed by management)

No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (68)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is an established company incorporated in the year 1950. It is engaged in the business of manufacturing, exporting, Manufacturer, Exporter and Marketing of Packed Tea, Tea Bags, Specialty Teas, Tea Flavours As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but the documents related to financials are not available from any sources. For the financial year ended 2014, the company has healthy operational activity marked by decent sales turnover along with profitability margin of 4.2%. The company has strong financial base marked by decent networth position along with favourable gap between trade payables and receivables. Rating derives strength from long business track record supported by extensive experience of its promoters. Trade relations are fair. Business is active. Payments are regular and as per commitments. The company can be considered for business dealings at usual 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	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 31-03-2015.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Rahul Razdan
Designation :	Manager
Contact No.:	91-33-66339711
Date :	02.12.2015

LOCATIONS

Registered Office :	Kasturi Building, 2^nd Floor, 171/172, Jamshedji Tata Road, Mumbai – 400020, Maharashtra, India
Tel. No.:	91-22-22026413
Fax No.:	91-22-22041078
E-Mail :	jvgokal@vsnl.com cs.deptt@jvgokal.com bharat@jvgokal.com
Website :	www.jvgokal.com

Head Office :	6^th Floor,, World Trade Centre, No.14/1B, Ezra Street, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-66339721/9711
Fax No.:	91-33-22215662
E-Mail :	gokaltea@jvgokal.com

Sales and Marketing Office:	INHW A Business Centre, IRIS Tech Park, Sohna Road, Gurgaon – 122018, Haryana, India
Tel. No.:	91-124-4930781
E-Mail :	sachenv@jvgokal.com

Factory (Domestic Packing Unit) 1:	Mahesh Tala, Budge Budge Trunk Road, 24 Pargana(S)-743353, West Bengal, India
Tel. No.:	91-33-24014276
Fax No.:	91-33-24014277
E-Mail :	shaibal@jvgokal.com

Factory (Special Economic Zone-Export Unit) 2:	Sector-II, SEZ, Falta SEZ, 24 Pargana(S)-743504, West Bengal, India
Tel. No.:	91-317-4222550
Fax No.:	91--34222645
E-Mail :	rahul@jvgokal.com

Factory 3:	Plot No.35, Road No.10, The Cochin Special Economic Zone, Kakkanad, Ernakulam – 682037, Kerala, India
Tel. No.:	91-484-2413348/3349
Fax No.:	91-33-484-2413347
E-Mail :	haresh@jvgokal.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Ravindra Jagjivan Gokal
Designation :	Director
Address :	Flat No. 42, 3^rd Floor, CCI Chambers, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	26.04.1943
Date of Appointment :	28.09.2004
DIN No.:	00061336

Name :	Mr. Nakul Arun Jagjivan
Designation :	Director
Address :	Ivorine Building, Flat No. 4, 6^th Floor, 154, Maharshi Karve Road, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	28.01.1965
Date of Appointment :	23.02.2004
DIN No.:	00277772

Name :	Mr. Bhavesh Ravindra Gokal
Designation :	Director
Address :	Flat No. 42, 3^rd Floor, CCI Chambers, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India
Date of Birth/Age :	18.09.1972
Date of Appointment :	28.09.2005
DIN No.:	00061479

Name :	Mr. Bharat C Arya
Designation :	Director
Address :	09, Mayfair Road, Ballygunge, PS Karaya, Kolkata – 700019, West Bengal, India
Date of Birth/Age :	26.09.1952
Date of Appointment :	02.11.2009
DIN No.:	02912114

KEY EXECUTIVES

Name :	Ms. Dhraben Rohan Desai
Designation :	Secretary
Address :	402, Gokul Residency, Soniwadi, Shimpoli Road, Borivali (West), Mumbai - 400092, Maharashtra, India
Date of Appointment :	02.05.2013
PAN No.:	AGDPN3412C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2015

Names of Shareholders		No. of Shares
Nakul Arun Jagjivan		1895727
Ravindra Jagjivan Gokal and Shobhna R. Gokal		1226309
Shobhna Ravindra Gokal		499
Consolidated Investments Private Limited		26
Nayan Arun Jagjivan		1500
Bhavesh Ravindra Gokal		699897
Total		3823958

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged into Marketing of Packed Tea, Tea Bags, Specialty Teas, Tea Flavours etc. (Confirmed by management)

Products :

Item Code No.	Product Description
09024090	Indian Black Tea

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

Sri Lanka
African Countries
European Countries

Imports :

Not Divulged

Terms :

Selling :

L/C and Credit (30/ 60/ Days)

Purchasing :

L/C and Credit (30/ 60/ Days)

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 :

End Users and OEM’s

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 :

250 (Approximately)

Bankers :

Bank Name	Union Bank of India
Branch	Mumbai Samachar Marg Branch, 66/80, Fort, Mumbai – 400023, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	91-22-22674938 (Continuously Ringing)
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loan from Bank	24.746	46.411

Short-term borrowings
Term Loan from Bank	1312.709	1296.212

Total	1337.455	1342.623


Auditors :
Name :	Parikh and Shah Chartered Accountants
Address :	Parikh and Shah Bhupati Chambers 1st Floor, Mathew Road, Opera House, Mumbai - 400004, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFP1842M

Memberships :	--

Collaborators :	--

Subsidiary companies:	OSS Air Management Private Limited, India (U63033MH2005PTC197169) J V Overseas Trading LIMITED, United Arab Emirates Felicitous Limited, Cyprus

Associates:	J. V. Gokal Ceylon Private Limited, Sri Lanka Go k a l Beverages EPZ Limited, Kenya J. V. Gokal and Company, India Radiant International Private Limited, India (U74999MH1979PTC021430) Heligo Charters Private Limited, India U62200MH2007PTC172961 Silica Tool Manufacturing and Allied Services Private Limited, India U74999MH2008PTC178651 Valation Finance and Marketing Private Limited India U65990MH1993PTC073855 Universal Commodities Trading (FZC), United Arab Emirates JV Roulements International Private Limited, India U29130MH2004PTC149846

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

4000000	Equity Shares	Rs.100/- each	Rs.400.000 Million
5000000	Preference Shares	Rs.100/- each	Rs.500.000 Million
	Total		Rs.900.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

3823958	Equity Shares	Rs.100/- each	Rs.382.396 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	382.396	600.037	696.900
(b) Reserves & Surplus	883.884	581.709	436.867
(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)	1266.280	1181.746	1133.767

(3) Non-Current Liabilities
(a) long-term borrowings	24.962	46.888	89.559
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.493	0.407	0.404
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	25.455	47.295	89.963

(4) Current Liabilities
(a) Short term borrowings	1354.709	1338.212	1347.766
(b) Trade payables	19.870	21.336	115.228
(c) Other current liabilities	67.953	68.534	88.202
(d) Short-term provisions	14.692	6.603	0.000
Total Current Liabilities (4)	1457.224	1434.685	1551.196

TOTAL	2748.959	2663.726	2774.926

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	289.044	326.572	271.425
(ii) Intangible Assets	14.185	16.531	16.604
(iii) Capital work-in-progress	143.006	143.275	208.093
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	666.561	666.561	666.561
(c) Deferred tax assets (net)	8.368	8.405	6.778
(d) Long-term Loan and Advances	246.653	290.333	249.480
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1367.817	1451.677	1418.941

(2) Current assets
(a) Current investments	0.000	0.000	2.500
(b) Inventories	328.721	310.483	335.040
(c) Trade receivables	577.317	649.514	668.102
(d) Cash and cash equivalents	165.285	145.074	148.487
(e) Short-term loans and advances	292.972	90.274	192.871
(f) Other current assets	16.847	16.704	8.985
Total Current Assets	1381.142	1212.049	1355.985

TOTAL	2748.959	2663.726	2774.926

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income
	Other Income
	TOTAL	2008.889	2092.627	1932.749

Less	EXPENSES
	TOTAL	1744.709	1775.307	1648.036

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	264.180	317.320	284.713

Less	FINANCIAL EXPENSES	124.974	200.264	211.979

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	139.206	117.056	72.734

Less/ Add	DEPRECIATION/ AMORTISATION	46.477	62.257	60.406

	PROFIT/ (LOSS) BEFORE TAX	92.729	54.799	12.328

Less	TAX	8.196	6.822	0.105

	PROFIT/ (LOSS) AFTER TAX	84.533	47.977	12.223

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	399.995	356.811	344.588

Less	APPROPRIATIONS
	Transfer to General Reserve	8.450	4.793	0.000

	Balance Carried to the B/S	476.078	399.995	356.811

	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	1807.580	1800.771	1578.604
	TOTAL EARNINGS	1807.580	1800.771	1578.604

	Earnings / (Loss) Per Share (Rs.)	22.11	12.55	3.20

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	23.061	41.922	45.684
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	1.695	81.974	247.498
Net cash flow from operating activity	(13.985)	77.168	231.708

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT /Total Income)	(%)	4.21	2.29	0.63

Operating Profit Margin (PBIDT/Total Income)	(%)	13.15	15.16	14.73

Return on Total Assets (PBT/Total Assets}	(%)	4.80	2.97	0.65

Return on Investment (ROI) (PBT/Networth)		0.07	0.05	0.01

Debt Equity Ratio (Total Debt /Networth)		1.11	1.21	1.31

Current Ratio (Current Asset/Current Liability)		0.95	0.84	0.87

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	696.900	600.037	382.396
Reserves & Surplus	436.867	581.709	883.884
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	1133.767	1181.746	1266.280

long-term borrowings	89.559	46.888	24.962
Short term borrowings	1347.766	1338.212	1354.709
Current Maturities of Long-Term Debts	45.684	41.922	23.061
Total borrowings	1483.009	1427.022	1402.732
Debt/Equity ratio	1.308	1.208	1.108

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	1932.749	2092.627	2008.889
		8.272	(4.002)

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	1932.749	2092.627	2008.889
Profit	12.223	47.977	84.533
	0.63%	2.29%	4.21%

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	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	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	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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Other loans and Advances	0.216	0.477

Short-term borrowings
Other loans and Advances	42.000	42.000

Total	42.216	42.477

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10576715	12/05/2015 *	600,000,000.00	EXPORT-IMPORT BANK OF INDIA	Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA	C57649006
2	10539800	30/12/2014	100,000,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMAC HAR MARG, FORT, Mumbai, Maharashtra - 400023, INDIA	C38734638
3	10252020	04/10/2014 *	1,458,500,000.00	UNION BANK OF INDIA - LEAD BANK OF THE RECONSTITUTED UBI CONSORTIUM	MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMAC HAR MARG, FORT, Mumbai, Maharashtra - 400023, INDIA	C32435059
4	10504045	04/10/2014 *	1,458,500,000.00	UNION BANK OF INDIA - LEAD BANK OF UBI CONSORTIUM	MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMAC HAR MARG, FORT, Mumbai, Maharashtra - 400023, INDIA	C33499609

FIXED ASSETS

Land (Freehold)
Building
Electrical Installation
Equipments/ Appliance and Tools
Furniture and Fixture
Computer
Vehicle
Computer Software

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.66.61
UK Pound	1	Rs.100.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Information Gathered by :	SUP

Analysis Done by :	TRI

Report Prepared by :	SUD

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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		68

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.

MIRA INFORM REPORT

INDEX OF CHARGES

Unit