MIRA INFORM REPORT
|
Report No. : |
354547 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
JUPITER ELECTRONICS |
|
|
|
|
Registered
Office : |
G – 414 Kailash Industrial Complex, Vikhroli Park Side Road, Off L.B.S.
Marg, Behind Godrej Colony, Vikhroli (West), Mumbai – 400079, Maharashtra |
|
Tel. No.: |
91-22-25185474/67551606 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of
establishment : |
1980 |
|
|
|
|
Com. Reg. No.: |
Not Divulged |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 32.819 Million |
|
|
|
|
IEC No.: |
0388149841 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACPG3389C |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader and Importer of Sensors and Transmitters. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 90000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietary concern started in the year 1980
having satisfactory track. It is engaged in the business as a trader and importer of sensors and
transmitters. The concern has incurred a loss during FY 2015. However, General
financial position of the concern is normal and acceptable for business
dealings. The rating also takes into consideration subject long established
track record of business operation. Trade relations are reported as fair. Business is active. Payments
terms are reported as slow but correct. The concern can considered normal 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.
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 |
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
|
Name : |
Mr. Dinesh Kadam |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-25185424 |
|
Date : |
11.12.2015 |
LOCATIONS
|
Registered Office : |
G 414, Kailash Industrial Complex, Vikhroli Park Side Road, Off L.B.S.
Marg, Behind Godrej Colony, Vikhroli (West), Mumbai – 400079, Maharashtra,
India |
|
Tel. No.: |
91-22-25185474/67551606/25170795/25186470/25186471 |
|
Mobile No.: |
91-9819515467 (Mr. Krishna) |
|
Fax No.: |
91-22-25170867 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
850 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
A-401, Kailash Industrial Complex, Veer Sawarkar Marg, Vikhroli
(West), Mumbai – 400079, Maharashtra, India |
|
|
|
|
Warehouse Office : |
901/6D, Damodar Park, L B Shastri Marg, Ghatkopar (West), Mumbai,
Maharashtra, India |
SOLE PROPRIETOR
|
Name : |
Mr. Bipin Ghelani |
|
Designation : |
Proprietor |
|
Qualification : |
B.E. Electrical |
|
Experience : |
68 Years |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Kadam |
|
Designation : |
Accounts Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Sensors and Transmitters. [Confirmed by management] |
|
|
|
|
Products : |
Sensors and Transmitters |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Sensors Trasmitters |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit (30/60 days) |
|
|
|
|
Purchasing : |
Cash, L/C and Credit (30/60 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
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Auditors : |
|
|
Name : |
Bharat Shah and Associates Chartered Accountant |
|
|
|
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Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern : |
|
CAPITAL STRUCTURE
As on 31.03.2015
|
Capital : |
|
|
Owned : |
Rs. 32.819 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.
32.819 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital |
32.819 |
22.947 |
29.216 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.819 |
22.947 |
29.215 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.414 |
0.311 |
2.945 |
|
|
2] Unsecured Loans |
53.304 |
51.130 |
43.695 |
|
|
TOTAL BORROWING |
56.718 |
51.441 |
46.640 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
89.537 |
74.388 |
75.855 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.276 |
18.822 |
18.116 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.656 |
5.955 |
7.362 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.445
|
18.409 |
0.000 |
|
|
Sundry Debtors |
5.401
|
3.933 |
0.000 |
|
|
Cash & Bank Balances |
7.438
|
5.269 |
0.000 |
|
|
Current assets, Loan and Advances and Other Current Assets |
56.056
|
48.899 |
67.966 |
|
Total
Current Assets |
88.340
|
76.510 |
67.966 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Current Liabilities and Provision |
26.735
|
26.899 |
17.589 |
|
Total
Current Liabilities |
26.735
|
26.899 |
17.589 |
|
|
Net Current Assets |
61.605
|
49.611 |
50.377 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
89.537 |
74.388 |
75.855 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
29.970 |
31.987 |
37.865 |
|
|
|
Other Income |
1.409 |
4.213 |
2.086 |
|
|
|
TOTAL |
31.379 |
36.200 |
39.951 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
19.862 |
21.245 |
25.322 |
|
|
|
Salary |
1.250 |
1.754 |
1.673 |
|
|
|
Appeal Fees |
0.002 |
0.000 |
0.000 |
|
|
|
Advertisement Expenses |
0.000 |
0.067 |
0.070 |
|
|
|
Audit fees |
0.075 |
0.067 |
0.077 |
|
|
|
Bad debts |
0.000 |
0.123 |
0.001 |
|
|
|
Balance written off |
0.433 |
0.753 |
0.000 |
|
|
|
Bank charges |
0.041 |
0.076 |
0.026 |
|
|
|
Bank interest |
0.058 |
0.025 |
0.199 |
|
|
|
Business promotion expenses |
0.147 |
0.116 |
0.066 |
|
|
|
Clearing charges |
0.009 |
0.025 |
0.012 |
|
|
|
Commission |
0.060 |
0.358 |
0.947 |
|
|
|
Commission on sales |
0.475 |
0.062 |
0.000 |
|
|
|
Computer repairs and maintenance |
0.069 |
0.020 |
0.014 |
|
|
|
Conveyance expenses |
0.043 |
0.040 |
0.092 |
|
|
|
Courier charges |
0.800 |
0.786 |
0.625 |
|
|
|
Custom warehouse charges |
0.000 |
0.015 |
0.000 |
|
|
|
Donation |
0.002 |
0.000 |
0.052 |
|
|
|
Electricity charges |
0.166 |
0.246 |
0.123 |
|
|
|
Insurance on stock |
0.068 |
0.000 |
0.000 |
|
|
|
Exchange rate floatation |
0.000 |
0.296 |
0.243 |
|
|
|
Exhibition Expenses |
0.194 |
0.257 |
0.114 |
|
|
|
Insurance Charges |
0.032 |
0.284 |
0.243 |
|
|
|
Insurance on car |
0.031 |
0.038 |
0.016 |
|
|
|
Insurance on Employee |
0.000 |
0.000 |
0.056 |
|
|
|
Interest on loan |
7.575 |
6.643 |
6.183 |
|
|
|
Maintenance Charges |
0.004 |
0.281 |
0.157 |
|
|
|
Mediclaim for Employee |
0.076 |
0.069 |
0.056 |
|
|
|
Misc. Expenses |
0.013 |
0.068 |
0.113 |
|
|
|
Motor car expenses |
0.016 |
0.006 |
0.064 |
|
|
|
Octopi expenses |
0.001 |
0.001 |
0.000 |
|
|
|
Office expenses |
0.054 |
0.151 |
0.141 |
|
|
|
Legal Fees |
0.001 |
0.000 |
0.000 |
|
|
|
Packaging Material |
0.000 |
0.045 |
0.019 |
|
|
|
Printing and stationery |
0.089 |
0.051 |
0.059 |
|
|
|
Professional charges |
0.083 |
0.071 |
0.060 |
|
|
|
Professional tax |
0.028 |
0.000 |
0.000 |
|
|
|
Rate difference |
0.029 |
(0.001) |
0.009 |
|
|
|
Repairs charges |
0.000 |
0.212 |
0.000 |
|
|
|
Registration charges |
0.010 |
0.035 |
0.000 |
|
|
|
Repaired and Maintenance |
0.005 |
0.006 |
0.038 |
|
|
|
Service charges |
0.140 |
0.037 |
0.030 |
|
|
|
Staff welfare |
0.095 |
0.073 |
0.040 |
|
|
|
Telephone charges |
0.092 |
0.244 |
0.185 |
|
|
|
Travelling expenses |
0.240 |
0.011 |
0.051 |
|
|
|
Tender fees |
0.000 |
(0.026) |
0.000 |
|
|
|
VAT Account |
0.365 |
0.583 |
0.240 |
|
|
|
Loss in f and A.K. Stock |
0.000 |
0.011 |
0.174 |
|
|
|
Employees Medicle Insurance |
0.023 |
0.000 |
0.000 |
|
|
|
Interest on TDS |
0.06 |
0.000 |
0.000 |
|
|
|
TOTAL |
32.772 |
35.224 |
37.590 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX,
DEPRECIATION AND AMORTISATION |
(1.393) |
0.976 |
2.361 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.428 |
0.510 |
0.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1.821) |
0.466 |
1.832 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.020 |
0.002 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT
(LOSS) |
(1.821) |
0.446 |
1.830 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(6.08)
|
1.39 |
4.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.96)
|
0.47 |
2.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
0.02 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.73
|
2.24 |
1.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.30
|
0.98 |
1.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
29.216 |
22.947 |
32.819 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
29.216 |
22.947 |
32.819 |
|
|
|
|
|
|
Secured loan |
2.945 |
0.311 |
3.414 |
|
Unsecured loan |
43.695 |
51.130 |
53.304 |
|
Total
borrowings |
46.640 |
51.441 |
56.718 |
|
Debt/Equity
ratio |
1.596 |
2.242 |
1.728 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
37.865 |
31.987 |
29.970 |
|
|
|
(15.524) |
(6.306) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
37.865 |
31.987 |
29.970 |
|
Profit/ (Loss) |
1.830 |
0.446 |
(1.821) |
|
|
4.83% |
1.39% |
(6.08%) |
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 |
No |
|
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 |
No |
|
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 |
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 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. 66.99 |
|
UK Pound |
1 |
Rs. 101.78 |
|
Euro |
1 |
Rs. 73.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
42 |
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.