MIRA INFORM REPORT

 

 

Report No. :

324561

Report Date :

02.06.2015

 

IDENTIFICATION DETAILS

 

Name :

CERA-CHEM PRIVATE LIMITED

 

 

Registered Office :

1-A, New Avadi Road, Villivakkam, Chennai – 600049, Tamilnadu

Tel no. :

91-44-26441013 / 26453498 / 26454792

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

21.06.1993

 

 

Com. Reg. No.:

18-025278

 

 

Capital Investment / Paid-up Capital :

Rs.1.750 Million

 

 

CIN No.:

[Company Identification No.]

U24294TN1993PTC025278

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEC01038C

 

 

PAN No.:

[Permanent Account No.]

AAACC1308C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Importers of Construction Chemicals. 

 

 

No. of Employees :

Not Divulged

 

 

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 160000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Management of the company has not filed its financial with the government department for the year 2014.

 

As per available financial of 2013, General financial position of the company seems to sound.

 

Trade relation are reported to be fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered normal for business dealings 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Manari Gangadharan

Designation :

Director

Contact No.:

91-44-26441013

Date :

28.05.2015

 

 

LOCATIONS

 

Registered Office :

1-A, New Avadi Road, Villivakkam, Chennai – 600049, Tamilnadu, India

Tel. No.:

91-44-26441013 / 26453498 / 26454792

Mobile No. :

91-9840099159 (Mr. Manari Gangadharah)

Fax No.:

91-44-26446104

E-Mail :

corporate@cerachmindia.com

gpselvamcosec@yahoo.co.in

Website :

http://www.cerachemindia.com

Location :

Owned

 

 

Corporate Office :

71-C, New Avadi Road, Chennai-600010, Tamilnadu, India

 

 

Factory / Head Office  :

No. 6, Park Street, Kilpauk Garden Colony, Chennai - 600010, Tamilnadu, India

Tel. No.:

91-44-26441013 / 26453498 / 26454792

Fax No.:

91-44-26446104

E-Mail :

coporate@cerachemindia.com

 

 

Branch Office :

Located At:

 

·         Chennai

·         Coimbatore

·         Puducherry

·         Trichy

·         Tirunelveli

·         Bangalore

·         Mangalore

·         Visakhapatnam

·         Pune

·          Sangli

·         Ahmedabad

·         Kochi

·         Aluva

·         Kolkata

·         Thrissur

·         Kannur

·         Trivandram

·         Malapuram

·         Kottayam

·         Pathanamthitta

 

 

DIRECTORS

 

As on 25.09.2013

 

 

 

Name :

Mr. Manari Gangadharan

Designation :

Managing Director

Address :

B1, Lotus Lawns, 4-5, 1st Street, Kilpauk, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

05.05.1959

Date of Appointment :

01.04.2005

DIN No. :

01090970

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

U45201TN1993PTC026168

PADMAJA SYSTEMS & SERVICES PRIVATE LIMITED

Director

08/11/1993

08/11/1993

-

Active

NO

2

U72900TN2000PTC044452

CS SOFTWARE SOLUTIONS PRIVATE LIMITED

Director

21/03/2000

21/03/2000

-

Active

YES

3

U24295ML2005PTC007646

A T C CERA CHEM PRIVATE LIMITED

Director

31/01/2005

31/01/2005

19/12/2007

Strike off

NO

4

U24294TN1993PTC025278

CERA-CHEM PRIVATE LIMITED

Managing director

02/05/2008

01/04/2005

-

Active

NO

5

U28133TN2014PTC095473

TOTALE GLOBAL PRIVATE LIMITED

Director

14/03/2014

14/03/2014

-

Active

NO

 

 

Name :

Mrs. Shanthini Gangadharan

Designation :

Director

Address :

B1, Lotus Lawns, 4-5, 1st Street, Kilpauk, Chennai-600010, Tamilnadu, India

Date of Birth/Age :

24.08.1984

Date of Appointment :

21.06.1993

DIN No. :

01090946  

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

U24294TN1993PTC025278

CERA-CHEM PRIVATE LIMITED

Director

21/06/1993

21/06/1993

-

Active

NO

2

U72900TN2000PTC044452

CS SOFTWARE SOLUTIONS PRIVATE LIMITED

Director

21/03/2000

21/03/2000

-

Active

YES

3

U45201TN1993PTC026168

PADMAJA SYSTEMS & SERVICES PRIVATE LIMITED

Director

12/03/2008

14/09/2007

-

Active

NO

4

U28133TN2014PTC095473

TOTALE GLOBAL PRIVATE LIMITED

Director

14/03/2014

14/03/2014

-

Active

NO

 

 

Name :

Mr. Vijay Kumar  Manari

Designation :

Director

Address :

154, 8th Street, F – Block, Anna Nagar ES, Chennai – 600102, Tamilnadu, India

Date of Birth/Age :

02.05.1969

Date of Appointment :

08.11.1993

DIN No. :

01792949

 

 

Name :

Mr. T D Prathaban

Designation :

Director

Date of Appointment :

21.06.1993

DIN No. :

01902500

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

U24294TN1993PTC025278

CERA-CHEM PRIVATE LIMITED

Director

21/06/1993

21/06/1993

-

Active

NO

2

U24295ML2005PTC007646

A T C CERA CHEM PRIVATE LIMITED

Director

31/01/2005

31/01/2005

19/12/2007

Strike off

NO

3

U65992TN2006PTC060052

PBAN CHITS PRIVATE LIMITED

Managing director

01/06/2006

01/06/2006

-

Active

NO

4

U74900TN2012PTC089010

ART LIFE COMMERCIAL INDIA PRIVATE LIMITED

Director

17/12/2012

17/12/2012

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 25.09.2013

 

Names of Shareholders

No. of Shares

%age

Shanthini Gangadharan

4375

25.00

Manari Gangadharan

8750

50.00

T D Prathaban

4375

25.00

 

 

 

Total

17500

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 25.09.2013

           

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Importers of Construction Chemicals

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

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 :

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 :

Not Divulged

 

 

Bankers :

·         Axis Bank Limited, Corporate Banking Branch, Ground Floor, Karumuthu Nilayam, No. 192, Anna Salai, Chennai – 600002, Tamilnadu, India

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

16.904

16.274

Other loans and advances

3.205

10.020

 

 

 

Total

20.109

26.294

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Shariff and Company

Chartered Accountants

Address :

26, Marakayar Labbai Street, Chennai – 600001, Tamilnadu, India

Tel. No. :

91-34-25221338 / 25248118

Fax No. :

91-34-25248118

E-Mail :

shariffmy@hotmail.com

PAN No. :

AACPS3468C

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Padmaja Ink, Chennai

 

 

CAPITAL STRUCTURE

 

As on 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25000

Equity Shares

Rs.100/- each

Rs.2.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

17500

Equity Shares

Rs.10/- each

Rs.1.750 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1.750

1.750

1.750

(b) Reserves & Surplus

55.446

37.746

23.910

(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)

57.196

39.496

25.660

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

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)

0.000

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

21.354

27.188

28.526

(b) Trade payables

34.064

38.347

24.461

(c) Other current liabilities

3.946

3.716

2.661

(d) Short-term provisions

3.933

3.665

3.167

Total Current Liabilities (4)

63.297

72.916

58.815

 

 

 

 

TOTAL

120.493

112.412

84.475

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12.340

13.777

9.597

(ii) Intangible Assets

0.684

0.372

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

13.024

14.149

9.597

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

4.509

3.755

2.626

(b) Inventories

20.368

18.308

12.353

(c) Trade receivables

76.822

71.270

54.634

(d) Cash and cash equivalents

1.300

1.021

1.178

(e) Short-term loans and advances

4.467

3.903

4.078

(f) Other current assets

0.003

0.006

0.009

Total Current Assets

107.469

98.263

74.878

 

 

 

 

TOTAL

120.493

112.412

84.475

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

230.394

202.441

190.090

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

24.971

19.602

15.926

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

2.338

2.101

1.387

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

22.633

17.501

14.539

 

 

 

 

 

Less

TAX

4.933

3.665

6.147

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

17.700

13.836

8.392

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1011.42

790.63

479.54

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

250.000

 

           

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

0.000

0.000

0.000

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)
7.68

6.83

4.41

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
18.78

15.57

17.21

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.40

0.44

0.57

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
0.37

0.69

1.11

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.70

1.35

1.27

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1.750

1.750

1.750

Reserves & Surplus

23.910

37.746

55.446

Net worth

25.660

39.496

57.196

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

28.526

27.188

21.354

Total borrowings

28.526

27.188

21.354

Debt/Equity ratio

1.112

0.688

0.373

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

190.090

202.441

230.394

 

 

6.497

13.808

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

190.090

202.441

230.394

Profit

8.392

13.836

17.700

 

4.41%

6.83%

7.68%

 

 

 

 

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

Yes

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 four 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 LOANS

 

PARTICULARS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Other loans and advances

1.245

0.894

 

 

 

Total

1.245

0.894

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10121559

09/01/2014 *

45,000,000.00

AXIS BANK LTD

Corporate Banking Branch, Ground Floor, Karumuthu Nilayam, No. 192, Anna Salai, Chennai – 600002, Tamilnadu, India

B95502597

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Machinery

·         Computer

·         Weighing Machine

·         Typewriter

·         Office Equipment

·         Air Conditioner

·         Cars

·         Vehicles

·         Cell Phones

·         Display Equipment

·         Furniture and Fixture

·         Fans

·         Building

·         Factory Land

 

 

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.63.61

UK Pound

1

Rs.97.27

Euro

1

Rs.69.63

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ART

 

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

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--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

 

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

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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.