MIRA INFORM REPORT

Report No. :	305102
Report Date :	30.01.2015

IDENTIFICATION DETAILS

Name :	SHREE ASHTVINAYAK GEMS AND STONES PRIVATE LIMITED (w.e.f. 24.09.2013)
Formerly known as :	SHREE ASHTVINAYAK TRADERS PRIVATE LIMITED
Registered Office :	Balaji Plaza, IInd Floor, 1157/1139, Kucha Mahajani, Chandni Chowk, Delhi - 110006
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	19.02.2009
Com. Reg. No.:	55-187766
Capital Investment / Paid-up Capital :	Rs 33.100 Millions
CIN No.: [Company Identification No.]	U52390DL2009PTC187766
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAMCS8140C
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Gold Ornaments and Jewellery and Trader in Shares and Securities.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca (12)

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 :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has incurred a heavy loss during Financial Year 2014 which has resulted into fully erosion of net worth. However, business is active. Payments terms are reported to be slow. The 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.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 31-03-2014.

LOCATIONS

Registered Office :	Balaji Plaza, IInd Floor, 1157/1139, Kucha Mahajani, Chandni Chowk, Delhi - 110006, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	Shreeashtvinayak2010@rediffmail.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Pramod Kumar

Designation :

Director

Address :

H No – 1E/16, N.I.T., Faridabad – 121001, Haryana, India

Date of Birth/Age :

11.03.1978

Date of Appointment :

01.02.2014

DIN No.:

00017783

PAN No.:

AKRPK8761F

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	U67120DL2005PLC137061	SRS BHARAT PORTFOLIO LIMITED	Director	01/08/2005	01/08/2005	01/12/2006	Amalgamated	NO
2	U51909DL2004PTC126503	RICHI LOOK MARKETING PRIVATE LIMITED	Director	15/05/2006	15/05/2006	22/03/2011	Amalgamated	NO
3	U70109DL2006PTC152363	MOUNTAIN VALLEY CONSTRUCTION PRIVATE LIMITED	Director	23/08/2006	23/08/2006	-	Amalgamated	NO
4	U70109DL2006PTC152547	AAKASH INFRATRADE PRIVATE LIMITED	Director	26/08/2006	26/08/2006	21/10/2010	Amalgamated	NO
5	U70109DL2006PTC152756	JAGRITI TRADECON PRIVATE LIMITED	Director	30/08/2006	30/08/2006	18/09/2009	Amalgamated	NO
6	U45200HR2006PTC041932	DIMENSION INFRASTRUCTURE PRIVATE LIMITED	Director	15/09/2006	15/09/2006	02/03/2009	Amalgamated	NO
7	U45200HR2006PTC042280	DAWN DEVELOPERS PRIVATE LIMITED	Director	22/09/2006	22/09/2006	02/03/2009	Amalgamated	NO
8	U45200DL2006PTC155343	ARAMBH TRADECON PRIVATE LIMITED	Director	09/11/2006	09/11/2006	16/03/2011	Amalgamated	NO
9	U27107HR1996PLC044553	SRS PORTFOLIO LIMITED	Director	28/09/2007	15/12/2006	03/12/2008	Active	NO
10	U51909DL2004PLC130891	MSR MARKETING LIMITED	Whole-time director	01/04/2010	01/07/2007	01/03/2012	Active	NO
11	U18101DL2007PLC160516	SRS COMMERCIAL COMPANY LIMITED	Director	26/05/2008	14/07/2007	22/11/2008	Amalgamated	NO
12	U52100DL2007PLC168037	TOPLINE TRADERS LIMITED	Director	11/09/2007	11/09/2007	05/03/2011	Amalgamated	NO
13	U52100DL2007PLC168039	FUTURISTIC AGENCIES LIMITED	Director	11/09/2007	11/09/2007	04/11/2010	Amalgamated	NO
14	U52100DL2007PLC167999	GOLDIES TRADING COMPANY LIMITED	Director	24/08/2009	11/09/2007	25/10/2010	Amalgamated	NO
15	L65910HR1990PLC040431	SRS REAL INFRASTRUCTURE LIMITED	Director	30/09/2008	23/11/2007	23/10/2008	Active	NO
16	U92120DL2005PTC137033	SRS MOVIES PRIVATE LIMITED	Director	09/05/2008	28/11/2007	20/11/2008	Amalgamated	NO
17	U14211DL2005PLC142701	SRS MINES AND MINERALS LIMITED	Director	10/05/2008	30/11/2007	02/12/2008	Amalgamated	NO
18	U52100DL2007PLC168040	UPFRONT TRADING COMPANY LIMITED	Additional director	02/09/2008	02/09/2008	25/02/2009	Amalgamated	NO
19	U55101DL2000PLC105962	SRS BANQUETS AND RESORTS LIMITED	Additional director	01/10/2008	01/10/2008	17/09/2009	Active	NO
20	U52390DL2009PTC187766	SHREE ASHTVINAYAK GEMS AND STONES PRIVATE LIMITED	Director	01/02/2014	19/02/2009	-	Active	NO
21	U52390DL2009PTC187764	LOGICAL JEWELLERS PRIVATE LIMITED	Director	19/02/2009	19/02/2009	03/05/2010	Active	NO
22	U52100DL2009PTC187775	FANCY MULTITRADE PRIVATE LIMITED	Director	19/02/2009	19/02/2009	25/06/2009	Active	NO
23	U52100DL2009PTC187803	RADHARANI ORNAMENTS PRIVATE LIMITED	Director	19/02/2009	19/02/2009	10/03/2011	Active	NO
24	U52393DL2009PTC188576	MADHAV BULLIONS AND JEWELLERS PRIVATE LIMITED	Director	19/03/2009	19/03/2009	10/03/2011	Active	NO
25	U52602DL2009PTC188587	AVON MARKTRADE PRIVATE LIMITED	Director	19/03/2009	19/03/2009	02/04/2012	Active	NO
26	U52602DL2009PTC188883	PROMINENT GEMS AND STONES PRIVATE LIMITED	Director	26/03/2009	26/03/2009	14/03/2011	Active	NO
27	U92419DL2005PLC142702	THREE BROTHERS ENTERTAINMENT LIMITED	Director	07/09/2010	22/06/2009	-	Amalgamated	NO
28	U74899DL1993PLC053520	KALAKRITI ENGINEERS INDIA LIMITED	Additional director	01/07/2009	01/07/2009	02/09/2009	Amalgamated	NO
29	U70109DL2006PTC152370	UDAY INFRATRADE PRIVATE LIMITED	Director	12/08/2010	23/07/2009	-	Amalgamated	NO
30	U70109DL2006PTC152255	BHOLEYJI INFRATRADE PRIVATE LIMITED	Director	10/08/2010	10/08/2009	01/11/2010	Amalgamated	NO
31	U52399DL2009PTC188742	VARDAN SALES AGENCIES PRIVATE LIMITED	Director	24/09/2012	16/04/2012	02/07/2013	Active	NO
32	U52602HR2006PLC051629	AKRITI GLOBAL TRADERS LIMITED	Whole-time director	01/02/2014	01/07/2013	-	Active	NO

Name :

Mr. Sanjay Singla

Designation :

Whole-time director

Address :

H No – 618, Sector-8, Faridabad – 121006, Haryana, India

Date of Birth/Age :

05.04.1969

Date of Appointment :

01.08.2013

DIN No.:

00063921

PAN No.:

AZUPS0595B

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
1	U65910DL1991PLC045921	S.B.S. FINANCE LIMITED	Director	01/04/2008	10/04/2006	-	Amalgamated
2	U70109HR2006PTC042131	BRIGHT INFRABUILD PRIVATE LIMITED	Director	30/04/2009	02/03/2009	17/08/2009	Amalgamated
3	U65910DL1997PLC085457	BTL IMPEX (INDIA) LIMITED	Director	15/06/2010	25/11/2009	-	Amalgamated
4	U52390HR2009PLC048386	JAI SHIV JEWELLERS AND MANUFACTURERS LIMITED	Director	24/07/2012	27/03/2010	01/08/2013	Active
5	U52390DL2009PTC187766	SHREE ASHTVINAYAK GEMS AND STONES PRIVATE LIMITED	Whole-time director	01/08/2013	01/08/2013	-	Active

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Pramod Kumar	665325
Sanjay Singla	665325
Jyoti Grover	164900
Rani Devi	164900
Vinod Kumar Grover	164900
Chanchal Grover	164850
Kiran Kumar	164900
Shakshi Singla	165000
Kishan Chand Singla	165200
Ram Murti Devi	165200
Pravin Singla	165000
Sandeep Singla	164800
Bharti Singla	164900
Madhavi Singla	164800
Total	3310000

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	90.04
Others	9.96
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader of Gold Ornaments and Jewellery and Trader in Shares and Securities.
Products :	Gold Ornaments and Jewellery Shares and Securities
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

No. of Employees :

Bankers :

Banker Name	CORPORATION BANK
Branch Address	1G/47 B.P., Nit, Faridabad -121001, Haryana, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
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 :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Loans taken for vehicles	1.622	0.000
Other loans and advances, others	27.500	0.000
Total	29.122	0.000

Financial Institute :	SRS Finance Limited, "SRS Multiplex", Top Floor, City Centre, Sector-12, Faridabad - 121007, Haryana, India
Auditors :
Name :	Sachin S C Singhal and Associates Chartered Accountant
Address :	E-712,Narwana Apartments, 89, Patparganj, I.P. Extn., Delhi - 110092,India
PAN No.:	ABKPS4546C
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3510000	Equity Shares	Rs.10/- each	Rs. 35.100 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3310000	Equity Shares	Rs.10/- each	Rs. 33.100 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	33.100	33.100	0.100
(b) Reserves & Surplus	(110.944)	(22.522)	(23.052)
(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)	(77.844)	10.578	(22.952)
(3) Non-Current Liabilities
(a) long-term borrowings	34.880	7.663	9.860
(b) Deferred tax liabilities (Net)	0.267	(0.752)	(1.425)
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	35.147	6.911	8.435
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	237.326	176.441	295.969
(c) Other current liabilities	75.369	62.474	64.414
(d) Short-term provisions	0.000	0.556	0.000
Total Current Liabilities (4)	312.695	239.471	360.383
TOTAL	269.998	256.960	345.866
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.519	3.949	3.026
(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	130.028
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	69.200	32.700	29.200
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	76.719	36.649	162.254
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	97.005	92.801	0.735
(c) Trade receivables	49.824	122.879	117.310
(d) Cash and cash equivalents	43.923	4.508	4.718
(e) Short-term loans and advances	0.015	0.000	10.050
(f) Other current assets	2.512	0.123	50.799
Total Current Assets	193.279	220.311	183.612
TOTAL	269.998	256.960	345.866

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	NA	NA	NA
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	TOATAL EXPENSES		NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		(87.434)	1.758	(21.377)
Less	TAX		0.988	1.229	(0.451)
	PROFIT/ (LOSS) AFTER TAX		(88.422)	0.529	(20.926)
	Earnings Per Share (Rs.)		(26.71)	0.16	(6.32)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	(32.38)	0.68	(9.90)
Return on Investment (ROI) (PBT/Networth)		1.12	0.17	0.93
Debt Equity Ratio (Total Debt /Networth)		(0.45)	17.40	(13.32)
Current Ratio (Current Asset/Current Liability)		0.62	0.92	0.51

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	33.100	33.100
Reserves & Surplus	(23.052)	(22.522)	(110.944)
Net worth	(22.952)	10.578	(77.844)
long-term borrowings	9.860	7.663	34.880
Short term borrowings	0.000	0.000	0.000
Total borrowings	9.860	7.663	34.880
Debt/Equity ratio	(0.430)	0.724	(0.448)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
Long Term Borrowing
Other loans and advances, others	5.758	7.663
Total	5.758	7.663

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	CHARGE HOLDER	ADDRESS	Service Request Number (SRN)
1	10460689	01/12/2014 *	50,000,000.00	SRS FINANCE LIMITED.	SRS TOWER, 306, 3RD FLOOR, NEAR METRO STATION MEWLA MAHARAJPUR, G. T. ROAD, FARIDABAD, HARYANA - 121003, INDIA	C38029260
2	10451209	26/08/2013	1,000,000,000.00	CORPORATION BANK	1G/47 B.P., NIT, FARIDABAD, HARYANA -121001, INDIA	B85788974

* Date of charge modification

FIXED ASSETS

• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipments

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.61.50
UK Pound	1	Rs.93.12
Euro	1	Rs.69.33

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	KLS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--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		12

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.