MIRA INFORM REPORT

 

 

Report No. :

305255

Report Date :

30.01.2015

 

IDENTIFICATION DETAILS

 

Name :

UNIGLOBE PACKAGING PRIVATE LIMITED

 

 

Registered Office :

Level-6, Tower 3, Equinox Business Park, CTS No. 83/1-19, L.B.S Road, Kurla (W), Mumbai – 400034, Maharashtra-

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.04.1999

 

 

Com. Reg. No.:

11-119671

 

 

Capital Investment / Paid-up Capital :

Rs.14.834 Millions

 

 

CIN No.:

[Company Identification No.]

U25202MH1999PTC119671

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMU03314D

 

 

PAN No.:

[Permanent Account No.]

AAACU3694D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Flexible Packaging Materials.

 

 

No. of Employees :

330 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

The company is an established company having satisfactory track record.

 

The company has processed above average financial performance which has resulted into profit achieved from its operational activities. Further rating also takes into consideration company’s sound financial base and fair liquidity position.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.

 

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

 

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.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Aarti

Designation :

Admin Department

Contact No.:

91-22-40080200

Date :

28.01.2015

 

 

LOCATIONS

 

Registered Office :

Level-6, Tower 3, Equinox Business Park, CTS No. 83/1-19, L.B.S Road, Kurla (W), Mumbai – 400034, Maharashtra-

Tel. No.:

91-22-40080200

Fax No.:

91-22-24918129

E-Mail :

anita@uniglobepackaging.com

sanjeev.dhiman@amcor.com

 

 

Branch/ Factory1 :

320-322 Arun Chamber,Tradeo Road, Mumbai-400034, Maharashtra, India

 

 

Factory 2  :

Plot No. 36, 37 51 to 54, Silver Industrial Estate, Bhimpore, Daman, India

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Vikram Chandur Thadhani

Designation :

Director

Address :

2B Cosmopolis, 21 L D Ruparel Marg, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

14.11.1970

Date of Appointment :

29.04.1999

PAN No.:

ABZPT0818K

DIN No.:

00121753

 

 

Name :

Mr. Rajiv T. Thadani

Designation :

Director

Address :

201, Green Acres, 61 B Nargis Dutt Road, Pali Hill Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

05.12.1962

Date of Appointment :

29.04.1999

PAN No.:

AADPT6963A

DIN No.:

00174398

 

 

Name :

Mr. Rajesh Sharma

Designation :

director

Address :

A 604, Canosa, Hiranandani Estate, Ghodbunder Road, Patlipada, Thane, 400607, Maharashtra, India

Date of Birth/Age :

28.06.1970

Date of Appointment :

27.03.2014

DIN No.:

06811394

 

 

Name :

Mr. Anant Madhav Gadre

Designation :

Additional director

Address :

Flat No.102, Building 2b, Rajgiri, Siddhachal Complex, Off Pokharan, Road No. 2, Thane (West), Thane – 400601, Maharashtra, India 

Date of Birth/Age :

24.03.1965

Date of Appointment :

15.11.2012

DIN No.:

01963880

 

 

Name :

Mr. Sanjeev Kumar Dhiman

Designation :

Additional director

Address :

Flat No. 701, Building A2, Cosmos Regency, Baner Road, Pune ,Mumbai – 411045, Maharashtra, India 

Date of Birth/Age :

05.08.1971

Date of Appointment :

15.11.2012

DIN No.:

02796730

 

 

Name :

Mr. Nathalie Anja Ahlstrom

Designation :

Director

Address :

201, Ocean Drive, The Azure Lobby 7, # 02-14 Sentasa Cove, Singapore - 098584

Date of Birth/Age :

25.10.1974

Date of Appointment :

15.11.2012

DIN No.:

06615992

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Amcor Flexibles India Private Limited, India

 

1483399

Vikram Thadhani as a nominee of Amcor Flexibles India Private Limited, India

 

1

Total

 

1483400

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Importer of Flexible Packaging Materials.

 

 

Products :

ITC Code

Description

63051060

Plastic Coated Or Paper Cum Polythene Lined Jute Bags And Sacks

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Materials

Countries :

Singapore

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers

Reference :

Hindustan Uniliver Limited, Mumbai

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

330 (Approximately)

 

 

Bankers :

 

Banker Name

Bank of India

Branch Address

SSI Andheri (East) Branch, Mathuria Apartment, 49, Sir M. V. Road, Andheri (East), Mumbai - 400069, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

91-22-28935751

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)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Banker Name

HDFC Bank

Branch Address

Charni Road, Mumbai, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

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)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Banker Name

Standard Chartered Bank

Branch Address

SME Credit, Crescenzo, 3A/F, Plot no. C-38 and 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

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)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

Long-term Borrowings

 

 

Loans taken for fixed assets

(Vehicle Loan from Banks and financial Institution are secured by

hypothecation of vehicles)

0.000

1.215

Rupee term loans from banks

(The loan is secured by way of hypothecation of office premises

situated at 320,321,322 Arun

Chambers, Tardeo Road, Mumbai)

0.000

0.000

Total

0.000

1.215

 

Auditors :

 

Name :

Contractor Nayak and Kishnadwala

Chartered Accountants

Address :

Jash Chambers, 3rd Floor, 7A, Sir P.M. Road, Fort, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-66230600/ 22662603/ 66359681

Fax No.:

91-22-22615814

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

AACFC8587E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding company:
  • Amcor Flexibles India Private Limited (from 15th November 2012)
  • Amcor Limited Australia (from 15th November 2012)

 

 

Ultimate holding company:
  • Asham Packaging
  • Virgo Finance Company
  • Sivvana Beauty Spas Private Limited

 

 

Fellow Subsidiary Company:
  • Amcor Flexibles Bangkok Public Company Limited, Thailand

 

 

Companies In Which the Directors and Relatives of Directors have substantial Interest (i.e. More than 20% in Voting Powers):
  • Pravik Finance and Investments Company Private Limited
  • RTV Real Estates Private Limited
  • VTR Estates Private Limited
  • Fullarton Distilleries Private Limited
  • TRV Holding

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1483400

Equity Shares

Rs.10/- each

Rs. 14.834 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

14.834

14.834

14.834

(b) Reserves & Surplus

218.235

192.021

198.625

(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)

233.069

206.855

213.459

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

1.215

27.400

(b) Deferred tax liabilities (Net)

2.635

6.978

5.445

(c) Other long term liabilities

0.000

0.000

0.468

(d) long-term provisions

0.000

0.241

0.000

Total Non-current Liabilities (3)

2.635

8.434

33.313

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

221.865

198.751

(b) Trade payables

78.316

75.600

112.052

(c) Other current liabilities

5.966

6.954

18.786

(d) Short-term provisions

3.003

4.455

7.488

Total Current Liabilities (4)

87.285

308.874

337.077

 

 

 

 

TOTAL

322.989

524.163

583.849

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

71.554

79.004

246.869

(ii) Intangible Assets

0.025

0.041

0.069

(iii) Capital work-in-progress

1.514

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

19.185

10.755

5.096

(d)  Long-term Loan and Advances

0.000

0.000

1.660

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

92.278

89.800

253.694

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

55.055

54.017

85.672

(c) Trade receivables

103.203

126.949

209.632

(d) Cash and cash equivalents

28.316

26.003

30.808

(e) Short-term loans and advances

37.199

22.141

3.539

(f) Other current assets

6.938

205.253

0.504

Total Current Assets

230.711

434.363

330.155

 

 

 

 

TOTAL

322.989

524.163

583.849

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

1114.830

 

 

Other Income

 

 

NA

 

 

TOTAL                                    

759.708

855.465

NA

 

 

 

 

 

 

TOTAL EXPENSES

736.200

862.068

NA

 

 

 

 

 

 

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

105.484

 

 

 

 

 

 

FINANCIAL EXPENSES                                   

 

 

20.625

 

 

N.A

N.A

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

84.233

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION                    

 

 

32.988

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

23.508

(6.603)

51.244

 

 

 

 

 

 

TAX                                                                 

(2.705)

0.000

13.145

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX)

26.213

(6.603)

38.099

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

17.67

3.87

25.68

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

PAT / Total Income

(%)

3.45

(0.77)

3.42

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

N.A

N.A

9.46

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.78

(1.29)

8.85

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

(0.03)

0.24

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

1.08

1.06

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.64

1.41

0.98

 

 

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

14.834

14.834

14.834

Reserves & Surplus

198.625

192.021

218.235

Net worth

213.459

206.855

233.069

 

 

 

 

long-term borrowings

27.400

1.215

0.000

Short term borrowings

198.751

221.865

0.000

Total borrowings

226.151

223.080

0.000

Debt/Equity ratio

1.059

1.078

0.000

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

Total Income

855.465

759.708

 

(23.265)

(11.194)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

Total Income

855.465

759.708

Profit

(6.603)

26.213

 

(0.77%)

3.45%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS:

 

Particulars

31.03.2014

31.03.2013

31.03.2012

 

(Rs. In Millions)

Current maturities of long-term debt

0.000

0.796

12.593

 

 

 

 

Total

0.000

0.796

12.593

 

 

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

Yes

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

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

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

NOTE:

 

The registered office of the company has been shifted from 320-322 3rd Floor, Arun Chambers Tardeo Road,

Mumbai – 400034, Maharashtra, India to present address.

 

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

FINANCIAL PERFORMANCE:

 

During the year fire had been occurred at the Unit II (in new plant) due to that the company was unable to perform at the satisfactory level of capacity utilisation.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

Short-term borrowings

 

 

Term loans from banks

0.000

216.298

Other loans and advances

0.000

5.567

Total

0.000

221.865

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments

 

Intangible assets

 

  • 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.61.49

UK Pound

1

Rs.93.12

Euro

1

Rs.69.49

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--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

 

43

 

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.