MIRA INFORM REPORT
|
Report No. : |
333456 |
|
Report Date : |
28.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
RONSON INDUSTRIAL ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
307, Shah and Nahar (Worli), Industrial Estate, Off Dr. E. Moses Road,
Worli, Mumbai – 400018, Maharashtra |
|
Mob. No.: |
91-9320005030 (Ms. Sampada) |
|
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
|
|
|
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Date of Incorporation
: |
15.06.1972 |
|
|
|
|
Com. Reg. No.: |
11-015845 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29269MH1972PTC105845 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Textile Machineries. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 |
|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a company established during the year 1972. It has a
moderate track record. As per the registrar of companies the date of balance sheet (i.e.
financial field) is shown as 31.03.2014 but the documents related to the
financials are not available from any sources. Ms. Sampada, the account executive has denied to disclose any
information about the company. In view of available financial 2012, the company has eroded its net
worth position and there is unfavorable gap between trade payables to its receivables,
which has weakened its balance sheet profile. As per registrar of companies business appears to be active. Payments
terms are slow. In view of unhealthy financial base and weak liquidity profile,
company can be considered for business dealings on fully safe and secure
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 |
|
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) DEFAILTERS’ 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 DENIED BY
|
Name : |
Ms. Sampada |
|
Designation : |
Account Executive |
|
Contact No.: |
91-9320005030 |
|
Date : |
27.07.2015 |
LOCATIONS
|
Registered Office : |
307, Shah and Nahar (Worli), Industrial Estate, Off Dr. E. Moses Road,
Worli, Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9320005030 (Ms. Sampada) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Located At :
|
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Saurin Bindu Gandhi |
|
Designation : |
Director |
|
Address : |
44/5, Deepak, Pedder Road, Cumala Hill 5th Floor, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1974 |
|
Date of Appointment : |
01.07.1995 |
|
DIN No.: |
01607458 |
|
|
|
|
Name : |
Mr. Saumik Bindu Ghandhi |
|
Designation : |
Director |
|
Address : |
44/5, Deepa,
Pedder Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
24.07.1967 |
|
Date of Appointment : |
01.07.1991 |
|
DIN No.: |
01668258 |
KEY EXECUTIVES
|
Name : |
Ms. Sampada |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holdings |
|
Mrs. Minaxi Bindu Gandhi |
3600 |
36.00 |
|
Mr. Saumik Bindu Gandhi |
2400 |
24.00 |
|
Mr. Saurin Bindu Gandhi |
2400 |
24.00 |
|
Reliance Machine Manufacturers Private Limited, India |
1600 |
16.00 |
|
|
|
|
|
Total |
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
16.00 |
|
Directors or relatives of Directors |
84.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textile Machineries. |
|
|
|
|
Products : |
Not Divulged |
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|
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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 : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Vipin and Company Chartered Accountant |
|
Address : |
Gomati Bhavan, Room No. 1, Ground Floor, 27/E, Rangnekar Marg,
Chowpatty, ,Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-22-23672114/ 23686249 |
|
Fax No.: |
91-22-23672114 |
|
E-Mail : |
|
|
PAN No.: |
AAHPS8417J |
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|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1.000 |
1.000 |
|
(b) Reserves & Surplus |
|
(2.244) |
(3.487) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
(1.244) |
(2.487) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.216 |
2.630 |
|
(b) Deferred tax liabilities (Net) |
|
0.211 |
0.283 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
4.921 |
4.215 |
|
Total Non-current
Liabilities (3) |
|
7.348 |
7.128 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
6.268 |
6.418 |
|
(c) Other
current liabilities |
|
9.068 |
7.763 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
15.336 |
14.181 |
|
|
|
|
|
|
TOTAL |
|
21.440 |
18.822 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
3.375 |
3.911 |
|
(ii)
Intangible Assets |
|
0.056 |
0.056 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.636 |
0.636 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
4.067 |
4.603 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.404 |
0.643 |
|
(c) Trade
receivables |
|
3.942 |
0.710 |
|
(d) Cash
and cash equivalents |
|
9.724 |
9.691 |
|
(e) Short-term
loans and advances |
|
3.163 |
3.139 |
|
(f) Other
current assets |
|
0.140 |
0.036 |
|
Total
Current Assets |
|
17.373 |
14.219 |
|
|
|
|
|
|
TOTAL |
|
21.440 |
18.822 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1.922 |
|
|
2] Unsecured Loans |
|
|
0.865 |
|
|
TOTAL BORROWING |
|
|
2.787 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.787 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.655 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.799
|
|
|
Sundry Debtors |
|
|
0.460
|
|
|
Cash & Bank Balances |
|
|
10.345
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
4.233
|
|
Total
Current Assets |
|
|
15.837
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
23.699
|
|
|
Provisions |
|
|
1.827
|
|
Total
Current Liabilities |
|
|
25.526
|
|
|
Net Current Assets |
|
|
(9.689)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
8.821 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.787 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
43.901 |
40.943 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
8.267 |
1.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
2.934 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.244 |
5.333 |
1.193 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3.488) |
(8.821) |
(10.014) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3.488) |
(3.488) |
(8.821) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
533.30 |
119.30 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.00
|
12.15 |
2.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
43.92 |
(12.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(3.32) |
1.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(1.78) |
(1.06) |
2.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.00 |
0.62 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1.000 |
1.000 |
|
Reserves & Surplus |
(3.487) |
(2.244) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net
worth |
(2.487) |
(1.244) |
|
|
|
|
|
long-term borrowings |
2.630 |
2.216 |
|
Short term borrowings |
0.000 |
0.000 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
|
Total
borrowings |
2.630 |
2.216 |
|
Debt/Equity
ratio |
(1.057) |
(1.781) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
40.943 |
43.901 |
|
|
|
7.225 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
40.943 |
43.901 |
|
Profit |
1.193 |
5.333 |
|
|
2.91% |
12.15% |
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 |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
--- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loan from director |
0.862 |
0.862 |
|
|
|
|
|
Total |
0.862 |
0.862 |
|
|
|
|
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Factory
Equipments
- Furniture and
Fixture
- Office
Equipments
- 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 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. 63.89 |
|
UK Pound |
1 |
Rs. 99.10 |
|
Euro |
1 |
Rs. 70.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
TRI |
|
|
|
|
Analysis Done by
: |
DIP |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.