MIRA INFORM REPORT
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Report No. : |
329624 |
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Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
VEE EXCEL DRUGS AND PHARMACEUTICALS PRIVATE LIMITED |
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Registered
Office : |
G-16, Preet Vihar, Vikash Marg, New Delhi – 110092 |
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Tel. No.: |
91-120-3019191 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.03.2000 |
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Com. Reg. No.: |
55-104382 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.116 Million |
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CIN No.: [Company Identification
No.] |
U24239DL2000PTC104382 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELV03074B |
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PAN No.: [Permanent Account No.] |
AABCV3624M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Drugs and Pharmaceuticals. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems dip in the turnover and profit of the company during the
FY 2014. However, General Financial position of the company is normal and acceptable
for business dealing. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mrs. Anu Bansal |
|
Designation : |
Director |
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Contact No.: |
91-7838057322 |
|
Date : |
30.06.2015 |
LOCATIONS
|
Registered Office : |
G-16, Preet Vihar, Vikash Marg, New Delhi – 110092, India |
|
Tel. No.: |
91-120-3019191 |
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Mobile No.: |
91-7838057322 (Mrs. Anu Bansal) |
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Fax No.: |
Not available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Corporate Office : |
703, Devika Tower, Chander Nagar, Ghaziabad-201001, Uttar Pradesh,
India |
DIRECTORS
AS ON: 30.09.2014
|
Name : |
Mr. Vipin Bansal |
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Designation : |
Director |
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Address : |
D – 145, Anand Vihar, New Delhi-110095, India |
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Date of Birth/Age : |
01.11.1968 |
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Date of Appointment : |
14.02.2004 |
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DIN No.: |
00942096 |
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Other
Directorship:
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Name : |
Mrs. Anu Bansal |
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Designation : |
Director |
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Address : |
D – 145, Anand Vihar, New Delhi-110095, India |
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Date of Birth/Age : |
02.07.1966 |
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Date of Appointment : |
01.09.2001 |
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DIN No.: |
00942097 |
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Other
Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vipin Bansal |
|
100108 |
|
Anu Bansal |
|
66541 |
|
Wiseman Trading Private Limited |
|
19000 |
|
Kakani Enterprises Private Limited |
|
23000 |
|
B K Bansal |
|
166 |
|
B K Bansal (HUF) |
|
833 |
|
Mirdul Goyal |
|
333 |
|
Savitri Bansal |
|
333 |
|
Suresh Chandra Ram Saran Agarwal (HUF) |
|
799 |
|
Vijay Bansal |
|
500 |
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|
|
|
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Total |
|
211613 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
20.61 |
|
Directors or relatives of Directors |
79.39 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Drugs and Pharmaceuticals. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Cheque and Credit (60/90 Days) |
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Purchasing : |
Cash, Cheque and Credit (60/90 Days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Strips |
In Nos. |
7419330 |
|
Herbal Products |
In Nos. |
545359 |
|
Tablet |
In Nos. |
1000000 |
|
Capsules |
In Nos. |
-- |
|
Syrup |
In Bottles |
2074 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Pawan Shubam and Company Chartered Accountants |
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Address : |
603, Laxmi Deep Building 9, Laxmi Nagar, District Centre, New
Delhi-110092, India |
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Tel. No.: |
91-11-45108755 |
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E-Mail : |
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PAN No.: |
AAOFP3225M |
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Memberships : |
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Collaborators : |
Not Available |
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Enterprise in which Key Managerial Personnel have significant
influence: |
VRX World Pharmacy Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
211613 |
Equity Shares |
Rs.10/- each |
Rs. 2.116
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
2.116 |
1.686 |
1.000 |
|
(b) Reserves &
Surplus |
40.733 |
27.830 |
10.128 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
42.849 |
29.516 |
11.128 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
24.383 |
9.079 |
7.852 |
|
(b) Deferred tax
liabilities (Net) |
0.049 |
0.000 |
0.000 |
|
(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) |
24.432 |
9.079 |
7.852 |
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|
|
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
0.000 |
3.017 |
0.000 |
|
(b) Trade payables |
25.763 |
32.378 |
12.942 |
|
(c) Other current
liabilities |
15.018 |
25.735 |
8.508 |
|
(d) Short-term provisions |
3.051 |
3.837 |
1.363 |
|
Total Current Liabilities
(4) |
43.832 |
64.967 |
22.813 |
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|
|
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TOTAL |
111.113 |
103.562 |
41.793 |
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II.
ASSETS |
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|
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|
(1) Non-current assets |
|
|
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|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
39.475 |
38.725 |
4.719 |
|
(ii) Intangible Assets |
0.273 |
0.364 |
0.485 |
|
(iii) Capital
work-in-progress |
6.627 |
0.172 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2.040 |
0.040 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.024 |
0.096 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.045 |
0.060 |
|
Total Non-Current Assets |
48.415 |
39.370 |
5.360 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.717 |
33.489 |
12.601 |
|
(c) Trade receivables |
5.956 |
10.249 |
14.396 |
|
(d) Cash and cash
equivalents |
24.359 |
12.929 |
6.306 |
|
(e) Short-term loans and
advances |
6.563 |
6.069 |
3.130 |
|
(f) Other current assets |
2.103 |
1.456 |
0.000 |
|
Total Current Assets |
62.698 |
64.192 |
36.433 |
|
|
|
|
|
|
TOTAL |
111.113 |
103.562 |
41.793 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
118.323 |
162.211 |
59.221 |
|
|
Other Income |
6.498 |
10.283 |
NA |
|
|
TOTAL (A) |
124.821 |
172.494 |
NA |
|
|
|
|
|
|
|
Less: |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
116.122 |
|
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(11.450) |
|
|
|
Employees benefits
expense |
|
4.298 |
|
|
|
Other expenses |
|
49.565 |
|
|
|
TOTAL (B) |
114.772 (Including Financial and
Depreciation Expenses) |
158.535 |
|
|
|
|
|
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|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (A-B) (C) |
|
13.959 |
||
|
|
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|
|
|
|
Less: |
FINANCIAL EXPENSES (D) |
|
0.527 |
|
|
|
|
|
|
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|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
13.432 |
|
|
|
|
|
|
|
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Less: |
DEPRECIATION/
AMORTISATION (F) |
|
1.426 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
10.049 |
12.006 |
4.137 |
|
|
|
|
|
|
|
Less |
TAX (H) |
3.161 |
3.916 |
1.445 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H) (I) |
6.888 |
8.090 |
2.692 |
|
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|
|
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EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
80.437 |
137.188 |
45.868 |
|
|
TOTAL EARNINGS |
80.437 |
137.188 |
45.868 |
|
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|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
40.81 |
79.41 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
180.000 |
Expected Sales (2015-2016): Rs. 240.000 Million
The above information has been parted by Mrs. Anu Bansal
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
0.037 |
0.203 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.82 |
4.99 |
4.55 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
105.49 |
8.61 |
100.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.81 |
11.62 |
9.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.41 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57 |
0.41 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
0.99 |
1.60 |
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 |
1.000 |
1.686 |
2.116 |
|
Reserves & Surplus |
10.128 |
27.830 |
40.733 |
|
Net worth |
11.128 |
29.516 |
42.849 |
|
|
|
|
|
|
long-term borrowings |
7.852 |
9.079 |
24.383 |
|
Short term borrowings |
0.000 |
3.017 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
7.852 |
12.096 |
24.383 |
|
Debt/Equity ratio |
0.706 |
0.410 |
0.569 |
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) |
|
Sales |
59.221 |
162.211 |
118.323 |
|
|
|
173.908 |
(27.056) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
59.221 |
162.211 |
118.323 |
|
Profit |
2.692 |
8.090 |
6.888 |
|
|
4.55% |
4.99% |
5.82% |
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) |
No |
|
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 |
Yes |
|
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 four 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 |
NOTE: Registered office of the company has been shifted from A-115, Shakarpur, Vikas Marg, Delhi, India to the present address w. e. f. 31.03.2000
UNSECURED LOAN:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM BORROWINGS |
|
|
|
From Related Parties |
0.000 |
0.520 |
|
From Others |
9.509 |
8.559 |
|
|
|
|
|
Total |
9.509 |
9.079 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10467412 |
16/12/2013 |
130,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
NOIDA BRANCH OFFICE ZYGON SQUARE, PLOT NO 1 BLOCK H-1A SECTOR 63, NOIDA, UTTAR PRADESH - 201301, INDIA |
B92473776 |
|
2 |
10225810 |
07/06/2010 |
385,000.00 |
FEDERAL BANK LIMITED |
NIRMAN VIHAR BRANCH, E-372,NIRMAN VIHAR, NEW DELHI, DELHI - 110092, INDIA |
A88210760 |
FIXED ASSETS:
- Industrial
Plot at G. Noida (Leasehold)
- Factory
Building
- Office
Building
- Plant and
Machinery
- Office
Equipments
- Furniture and
Fixtures
- Computer
- Vehicles
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. 63.57 |
|
UK Pound |
1 |
Rs. 99.20 |
|
Euro |
1 |
Rs. 70.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNU |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
THR |
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 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.