MIRA INFORM REPORT

 

 

Report No. :

354340

Report Date :

21.12.2015

 

IDENTIFICATION DETAILS

 

Name :

PARMESHWAR ELECTROTECH PRIVATE LIMITED

 

 

Registered Office :

Office No. 55/56, Third Floor, Shreemad Bharan, Opposite Kanta, Stri Vikas Gruh, Rajkot – 360002, Gujarat

Tel. No.:

91-281-2230440

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

11.10.2010

 

 

Com. Reg. No.:

04-062568

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

U32203GJ2010PTC062568

 

 

IEC No.:

2411003668

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAFCP7025A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of CCTV Camera, Security Products. (Confirmed by management)

 

 

No. of Employees :

40 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2010. It is engaged in trading and importing of CCTV cameras, security products.

 

The rating takes into account on company small scale of operations, decline in its reserves, loss during FY-2015 and its moderate financial profile, albeit an improvement in its revenue from its previous FY-14.

 

Rating is constrained on huge external borrowing which has leveraged the balance sheet position of the company.

 

However, trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

In view of experienced promoter, the company can be considered for business dealings with come cautions.

 

 

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 :

Ms. Sheetal

Designation :

Account Manager

Contact No.:

91-281-2230440

Date :

14.12.2015

 

 

LOCATIONS

 

Registered Office :

Office No. 55/56, Third Floor, Shreemad Bharan, Opposite Kanta, Stri Vikas Gruh, Rajkot – 360002, Gujarat

Tel. No.:

91-281-2230440

Fax No.:

Not Available

E-Mail :

sales@parmeshwar.net

shital.pepl@gmail.com

jpzassociates@gmail.com

Website :

http://www.parmeshwar.net

 

 

Branches 1:

F-1112, Titanium City Centre, Anand Nagar Road, Setelite, Ahmedabad, Gujarat, India

Tel. No.:

91-79-26934035

 

 

Branches 2:

Office no. 302, Oscar Opposite Rajlaxmi Bakery, Limda lane, Jamnagar, India

Tel. No.:

288-2550268

 

 

Branches 3:

215 Janakpuri Shopping Centre, Janjarade Road, Junagadh, India

Tel. No.:

281-2230440

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Vimal Chandubhai Dedakiya

Designation :

Director

Address :

Parmeshwar, Ram Nagar - 5, Gondal Road, Near P D M College, Rajkot - 360004, Gujarat, India

Date of Birth/Age :

15.11.1978

Date of Appointment :

11.10.2010

DIN No.:

03201199

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

U32203GJ2010PTC062568

PARMESHWAR ELECTROTECH PRIVATE LIMITED

Director

11/10/2010

11/10/2010

-

Active

NO

2

U32109GJ2012PTC070474

PARMESHWAR OVERSEAS PRIVATE LIMITED

Director

25/05/2012

25/05/2012

-

Active

NO

 

 

Name :

Mrs. Kiran Ratilal Zatakia

Designation :

Director

Address :

Aasha Kiran Appartment, 2nd Floor, Ambaji-, Kadava Garbi Chowk, Near. P.D.M. College, Gondal Road., Rajkot - 360004, Gujarat, India

Date of Birth/Age :

04.09.1980

Date of Appointment :

11.10.2010

DIN No.:

03235427

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

U32203GJ2010PTC062568

PARMESHWAR ELECTROTECH PRIVATE LIMITED

Director

11/10/2010

11/10/2010

-

Active

NO

2

U32109GJ2012PTC070474

PARMESHWAR OVERSEAS PRIVATE LIMITED

Director

25/05/2012

25/05/2012

-

Active

NO

3

U51900GJ2014PTC080215

GETGROW WORLDWIDE PRIVATE LIMITED

Director

24/07/2014

24/07/2014

-

Active

NO

 

 

KEY EXECUTIVE

 

Name :

Ms. Sheetal

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2015

 

Names of Shareholders

 

No. of Shares

Kiran Ratilal Zatakia

 

5000

Vimal Chandubhai Dedakiya

 

5000

Total

 

10000

 

 

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 :

Trader and Importer of CCTV Camera, Security Products. (Confirmed by management)

 

 

Products :
  • CCTV Camera
  • Security Products

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

CCTV Camera

Countries :

China

 

 

Terms :

 

Selling :

Cheque and Credit (30 Days)

 

 

Purchasing :

Cheque and Credit (30 Days)

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Amta Cables Corporation
  • Artoware Corporation
  • Avadh Electronics
  • Binary System
  • Enterprises Software Solution Lab
  • Onfinity Infoway Private Limited
  • H P Electricals
  • Kiran Electro System
  • Lookman Electroplast Private Limited
  • Mahavir Communication
  • Neel Digital Color Lab
  • Skytech Technologies
  • Getgrow Worldwide Private Limited\
  • Mahendra Electric Company
  • ALR Services

 

 

Customers :
  • Ashok Electric Store
  • Jay International School
  • Omex Engineering
  • Pansuriya Electric and Motor Rewinding
  • Shreenathji Beverages
  • Parmeshwar Overseas Private Limited
  • Arman Technology
  • Binary System
  • Global Solution

 

 

No. of Employees :

40 (Approximately) 

 

 

Bankers :

Bank Name

HDFC Bank Limited

Branch

Bhakti Nagar, Rajkot, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

91-9898271111 (Customer care no. Not responding properly)

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)

Overdraft = Rs. 4.300 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Bajaj Finance

0.546

0.996

Kotak Mahindra Bank Lona

1.841

1.473

Bajaj Finance New

0.518

0.000

 

2.905

2.469

Short-term borrowings

 

 

HDFC Bank OD

4.636

2.674

 

 

 

Total

7.541

5.143

 

Auditors :

 

Name :

J P Z and Associates

Chartered Accountants

Address :

SF-40, Shrimad Bhavan, 3rd Floor, Opposite. Kanta Stri Vikas Gruh, Rajkot – 360002, Gujarat, India

Email id:

jpzassociated@gmail.com

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

AAHFJ3802A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concern :
  • Permeshawr Polymers
  • Getgrow Worldwide Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

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

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.100

0.100

0.100

(b) Reserves & Surplus

0.334

0.640

0.303

(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)

0.434

0.740

0.403

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

2.905

2.470

0.981

(b) Deferred tax liabilities (Net)

(0.050)

0.037

0.010

(c) Other long term liabilities

1.213

2.297

1.096

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

4.068

4.804

2.087

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4.636

2.674

3.238

(b) Trade payables

3.189

1.438

0.592

(c) Other current liabilities

1.140

2.422

2.242

(d) Short-term provisions

0.053

0.352

0.218

Total Current Liabilities (4)

9.018

6.886

6.290

 

 

 

 

TOTAL

13.520

12.430

8.780

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1.409

1.770

0.993

(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

0.006

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1.409

1.770

0.999

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

4.891

2.196

1.299

(c) Trade receivables

3.627

4.404

5.779

(d) Cash and cash equivalents

1.966

2.416

0.285

(e) Short-term loans and advances

1.016

1.324

0.303

(f) Other current assets

0.611

0.320

0.115

Total Current Assets

12.111

10.660

7.781

 

 

 

 

TOTAL

13.520

12.430

8.780

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Revenue from Operations

31.400

31.235

19.910

 

Other Income

0.001

0.000

0.001

 

TOTAL (A)

31.401

31.235

19.911

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases

21.793

18.765

6.489

 

Opening Stock

2.196

1.299

2.614

 

Employees benefits expense

3.337

2.402

1.969

 

Closing Stock

(4.891)

(2.196)

(1.299)

 

Managerial Remuneration

1.800

1.025

0.600

 

Payment to Auditor

0.020

0.020

0.015

 

Insurance Expenses

0.100

0.028

0.129

 

Power an Fuel

0.096

0.033

0.017

 

Other expenses

5.719

8.462

8.569

 

TOTAL (B)

30.170

29.838

19.103

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

1.231

1.397

0.808

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

0.851

0.583

0.225

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

0.380

0.814

0.583

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

0.715

0.297

0.168

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

(0.335)

0.517

0.415

 

 

 

 

 

Less

TAX (H)

(0.083)

0.180

0.128

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

(0.252)

0.337

0.287

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

0.640

0.303

0.020

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

0.388

0.640

0.307

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(25.15)

33.66

28.71

 

 

Expected Sales (2015-2016) : Rs.32.000 Million

 

The above information has been parted by Ms. Sheetal (Account Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

(0.892)

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

(0.80)

1.08

1.44

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

3.92

4.47

4.06

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(2.48)

4.16

4.73

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.77)

0.70

1.03

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

17.38

6.95

10.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.34

1.55

1.24

 

 

 

 

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

0.100

0.100

0.100

Reserves & Surplus

0.303

0.640

0.334

Net worth

0.403

0.740

0.434

 

 

 

 

long-term borrowings

0.981

2.470

2.905

Short term borrowings

3.238

2.674

4.636

Total borrowings

4.219

5.144

7.541

Debt/Equity ratio

10.469

6.951

17.376

 

 

 

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

19.910

31.235

31.400

 

 

56.881

0.528

 

 

 

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

19.910

31.235

31.400

Profit / (Loss)

0.287

0.337

(0.252)

 

1.44%

1.08%

(0.80%)

 

 

 

 

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

Yes

19

Major customers

Yes

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

Yes

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

 

 

 

 

 

BUSINESS OPERATIONS:

 

During the year under question, the company has incurred loss Rs. 0.251 Million as compared to previous year’s Profit : Rs. 0.337 Million.

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

  • Air Conditioner
  • Bar Code System
  • Electric Fitting
  • Furniture and Fixture
  • Instruments and Equipment
  • Machinery
  • Television
  • Vehicle
  • Computer
  • 3D Printer
  • Fan

 

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.66.42

UK Pound

1

Rs.99.17

Euro

1

Rs.72.13

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

3

--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

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

 

26

 

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.