MIRA INFORM REPORT

 

 

Report No. :

329799

Report Date :

04.07.2015

 

IDENTIFICATION DETAILS

 

Name :

LAKSHYA ENTERPRISES PRIVATE LIMITED

 

 

Registered Office :

2, Capriana Apartments, 27, Rajnagar Society, Akota, Baroda – 390015, Gujarat

Tel. No.:

91-265-3255023,2355472/73

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.11.1994

 

 

Com. Reg. No.:

04-023731

 

 

Capital Investment / Paid-up Capital :

Rs. 9.773 Million

 

 

CIN No.:

[Company Identification No.]

U45201GJ1994PTC023731

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture, Exporter and Importer of Di- Ethyl Phthalate.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 87000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well - established private limited company incorporated in the year 1994, having moderate track.

 

Company has reported decrease in its profit in financial year 2014, as compared to previous year.

 

Rating also constraints on account of relatively high gearing and less cash on hand reported by the company in the year under consideration.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealings with some caution.

 

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 31-03-2013.

 

INFORMATION PARTEDBY

 

Name :

Mr. Tarak Patel

Designation :

Director

Contact No.:

91-9823028908

Date :

02.07.2015

 

 

LOCATIONS

 

Registered Office :

2, Capriana Apartments, 27, Rajnagar Society, Akota, Baroda - 390015 Gujarat, India

Tel. No.:

91-265-3255023/2355472/73

Mobile No.:

91-9823028908 (Mr. Tarak Patel)

Fax No.:

91-265-2355468

E-Mail :

sales@lakshyagroup.com

parul@lakshyagroup.com

tarak@lakshyagroup.com

Location:

Rented

Locality:

Commercial

 

 

Factory :

418/P Opposite Hemant Plastic, Padra Jambusar Road, Dabhasa, Taluka Padra Dist. Vadodara - 391440, Gujarat, India

 

 

DIRECTORS

 

AS ON 25.09.2014

 

Name :

Mr. Tarakbhai Laxmanbhai Patel

Designation :

Whole-time Director

Address :

2, Capriana Apartments, 27, Rajnagar Society, Akota, Baroda - 390015 Gujarat, India

Date of Birth/Age :

04.01.1967

Date of Appointment :

01.04.2008

Din No.:

02259588

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

U45201GJ1994PTC023731

LAKSHYA ENTERPRISES PVT LTD

Whole-time director

01/04/2008

30/11/1994

-

Active

NO

2

U45201GJ1994PTC023730

NISHANT ORGANICS PRIVATE LIMITED

Whole-time director

15/07/2008

15/07/2008

-

Active

NO

3

U31401GJ1994PTC023896

ALLNYX TECHNOLOGIES PRIVATE LIMITED

Additional director

11/05/2010

11/05/2010

-

Converted to LLP and dissolved

NO

4

AAD-9354

ALLNYX TECHNOLOGIES LLP

Designated Partner

13/05/2015

13/05/2015

-

Active

NO

 

 

Name :

Mr. Parulbhai Laxmanbhai Patel

Designation :

Director

Address :

2, Capriana Apartments, 27, Rajnagar Society, Akota, Baroda - 390015 Gujarat, India

Date of Birth/Age :

17.08.1958

Date of Appointment :

30.11.1994

Din No.:

00403746

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

U45201GJ1994PTC023731

LAKSHYA ENTERPRISES PVT LTD

Director

30/11/1994

30/11/1994

-

Active

NO

2

U45201GJ1994PTC023730

NISHANT ORGANICS PRIVATE LIMITED

Managing director

15/07/2008

30/11/1994

-

Active

NO

3

U17121GJ2007PTC050608

DHRUV COTTON PROCESSING PRIVATE LIMITED

Director

20/04/2007

20/04/2007

-

Active

NO

 

 

Name :

Mr. Nishant Parulbhai Patel

Designation :

Additional director

Address :

GF 2 Capriana Apt, 27 Rajnagar Society, Akota, Vadodara, 390020, Gujarat, INDIA

Date of Appointment :

27.02.2015

Din No.:

02924264

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

U31401GJ1994PTC023896

ALLNYX TECHNOLOGIES PRIVATE LIMITED

Additional director

11/05/2010

11/05/2010

-

Converted to LLP and dissolved

NO

2

U45201GJ1994PTC023731

LAKSHYA ENTERPRISES PVT LTD

Additional director

27/02/2015

27/02/2015

-

Active

NO

3

U45201GJ1994PTC023730

NISHANT ORGANICS PRIVATE LIMITED

Additional director

27/02/2015

27/02/2015

-

Active

NO

4

AAD-9354

ALLNYX TECHNOLOGIES LLP

Designated Partner

13/05/2015

13/05/2015

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 25.09.2014

 

Names of Shareholders

 

No. of Shares

Parulbhai Laxmanbhai Patel

 

93520

Tarakbhai Laxmanbhai Patel

 

124900

Parul Patel HUF

 

10000

Patel Laxmanbhai

 

103900

Patel Parulbhai Bhartiben

 

148000

Chatrola Naranbhai Harshadbhai

 

14300

Chatrola Harshad Sujataben

 

216700

Kakadia Mavjlbhal Trlkambhal

 

9990

Kakadia Mavjibhai Rameshbhai

 

9990

Kakadia Mavjlbhal Laljlbhal

 

5000

Patel Tarakbhai Amiben

 

5500

Tarak L Patel Huf

 

20000

Patel Jerambhai Gomtiben

 

137000

Patel Parulbhai Nishant

 

78500

 

 

 

Total

 

977300

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 25.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacture, Exporter and Importer of Di- Ethyl Phthalate.

 

 

Products :

Di- Ethyl Phthalate

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Di- Ethyl Phthalate

Countries :
  • USA
  • UK
  • Turkey
  • Pakistan
  • Srilanka
  • Singapore

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Korea
  • Thailand

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

·         HDFC Bank

·         Indusland Bank

Branch

Not Divulged

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 :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Banks

 

 

Term Loan from Indusind Bank Limited

0.000

8.042

Less: Current Maturities

0.000

(3.201)

 

 

 

Term Loan from HDFC Bank

4.993

0.000

Less: Current Maturities

(3.228)

0.000

 

 

 

SHORT TERM BORROWING

 

 

From HDFC Bank (Working Capital Facilities)

27.469

0.000

From Indusind  Bank Limited (Working Capital Facilities)

0.000

23.592

 

 

 

Total

29.234

28.433

 

Auditors :

 

Name :

Parikh Shah Chotalia and Associates

Chartered Accountants,

Address :

A/11, Sahjanand Apartments, Tarang Society, Opp. Akota Stadium, Productivity Road, Baroda – 390020 Gujarat, India

Tel. No.:

91-265-2335917/3052101

Fax No.:

91-265-3082062

E-Mail :

rahul@psca.in

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

AADFR8971L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprise Over Which Key Management Personnel and Their Relatives Have Significant Influence:

  • Nishant Enterprises Private Limited
  • Tarak Roadlines

 

 

CAPITAL STRUCTURE

 

AS ON 25.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs. 10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

977300

Equity Shares

Rs.10/- each

Rs. 9.773 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

9.773

9.773

9.773

(b) Reserves & Surplus

20.752

16.362

10.548

(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)

30.525

26.135

20.321

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.765

8.390

10.967

(b) Deferred tax liabilities (Net)

1.505

1.603

1.595

(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)

3.270

9.993

12.562

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

30.979

30.269

17.290

(b) Trade payables

7.838

9.805

31.545

(c) Other current liabilities

3.559

3.539

3.205

(d) Short-term provisions

0.497

1.840

1.418

Total Current Liabilities (4)

42.873

45.453

53.458

 

 

 

 

TOTAL

76.668

81.581

86.341

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

23.470

25.417

25.439

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.779

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)

0.250

0.000

0.000

(d)  Long-term Loan and Advances

0.308

0.276

0.222

(e) Other Non-current assets

0.055

0.054

0.053

Total Non-Current Assets

25.862

25.747

25.714

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 0.000

 0.000

 0.000

(b) Inventories

14.446

32.419

29.676

(c) Trade receivables

18.096

9.970

22.096

(d) Cash and cash equivalents

0.394

0.507

0.834

(e) Short-term loans and advances

17.870

12.938

7.991

(f) Other current assets

0.000

0.000

0.030

Total Current Assets

50.806

55.834

60.627

 

 

 

 

TOTAL

76.668

81.581

86.341

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

TOTAL SALES

N.A

N.A

N.A

 

 

 

 

 

Less

TOTAL EXPENSES

N.A

N.A

N.A

 

 

 

 

 

 

PROFIT BEFORE TAX

N.A

N.A

N.A

 

 

 

 

 

Less

TAX                                                                 

N.A

N.A

N.A

 

 

 

 

 

 

PROFIT AFTER TAX

4.390

5.814

3.309

 

 

 

 

 

 

Earnings Per Share (Rs.)

4.49

5.94

3.38

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

3.229

3.201

3.034

Cash generated from operations

N.A

N.A

N.A

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Debt Equity Ratio

(Total Debt /Networth)

 

1.18

1.60

1.54

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.19

1.23

1.13

 

 

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

9.773

9.773

9.773

Reserves & Surplus

10.548

16.362

20.752

Net worth

20.321

26.135

30.525

 

 

 

 

long-term borrowings

10.967

8.390

1.765

Short term borrowings

17.290

30.270

30.979

Current maturities of long-term debts

3.034

3.201

3.229

Total borrowings

31.291

41.861

35.973

Debt/Equity ratio

1.540

1.602

1.178

 

 

 

 

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

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

No

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

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 9 Second Floor Ravi Kirancomplex valiya Chokdi GIDC Ankleshwar - 393002, Gujarat, India  to the present address w.e.f. 17.01.2007

 

UNSECURED LOAN

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan and Advance from Related Parties

0.000

3.550

 

 

 

SHORT TERM BORROWING

 

 

Loans and Advances from related parties

3.510

6.677

 

 

 

Total

3.510

10.227

 

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10470565

31/12/2013 *

46,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL 
W, MUMBAI - 400013, MAHARASHTRA, INDIA

B94352846

2

10454849

01/10/2013

46,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA

B87465993

 

 

FIXED ASSETS

·         Land

·         Factory Building

·         Building

·         Plant and Machinery

·         Vehicle

·         Office Equipment

·         Computers

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.39

UK Pound

1

Rs.98.94

Euro

1

Rs.70.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

27

 

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.