MIRA INFORM REPORT

 

 

Report No. :

323002

Report Date :

01.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SURANI STEEL PRIVATE LIMITED

 

 

Registered Office :

S. No.110, 115, Opposite Vinayak TMT, Bayad Road, Taluka Dahegam, Sampa – 382315, Gujarat

Tel. No.:

91-2716-296123

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.07.2012

 

 

Com. Reg. No.:

04-071373

 

 

Capital Investment / Paid-up Capital :

Rs.25.000 Million

 

 

CIN No.:

[Company Identification No.]

U27109GJ2012PTC071373

 

 

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 :

Manufacturer and Exporter of Mild Steel Electrically Resistance Welding (M.S. ERW) Pipes.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Maximum Credit Limit :

USD 70000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Even though the company was incorporated on 31st July 2012, it has commence its business operation from financial year 2013-2014.

 

Mr. Dinesh Patel (Director) provided information. Company has achieve minimal sales from its business operations and have reported nominal profit for the financial year ended 2013-2014. Rating remain constraint on account of limited track record of business operations and has incurred huge accumulated losses for past 2 years.

 

However, trade relations are improving. Business is active. Payments are slow but correct.

 

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

 

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 DEFAILTERS’ 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 31-03-2012.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Dinesh Patel

Designation :

Director

Contact No.:

91-9099759497

Date :

16.05.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

S. No.110, 115, Opposite Vinayak TMT, Bayad Road, Taluka Dahegam, Sampa – 382 315, Gujarat, India

Tel. No.:

91-2716-296123

Mobile No.:

91-9099759497 (Mr. Dinesh Patel)

Fax No.:

Not Available

E-Mail :

info@suranisteel.com

suranisteel@gmail.com

Website :

http://suranisteel.com

Location :

Owned

 

 

Marketing Office :

606, Abhijyot Square, B/h-Bhaskar House, Makarba, SG Highway, Ahmedabad – 380015, Gujarat, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Dinesh Karshan Patel

Designation :

Director

Address :

4, Vinayak Park, Near Abhishek Hospital, Apartment A, Bad Road, Dahegam – 382 305, Gujarat, India

Date of Birth/Age :

29.12.1987

Date of Appointment :

31.07.2012

DIN No.:

03585273

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

U40100GJ2009PTC056636

INDO-GERMAN ENERGY PRIVATE LIMITED

Additional director

18/07/2011

18/07/2011

07/07/2012

Active

NO

2

U28999GJ2012PTC069194

VOLANT STEEL PRIVATE LIMITED

Director

27/02/2012

27/02/2012

16/03/2013

Active

NO

3

U27109GJ2012PTC071373

SURANI STEEL PRIVATE LIMITED

Director

31/07/2012

31/07/2012

-

Active

  NO

 

 

Name :

Mr. Mukesh Vishram Patel

Designation :

Director

Address :

11, Vinayak Park, Opposite Ashirwad Hospital, College Road, Dahegam – 382305, Gujarat, India 

Date of Birth/Age :

16.11.1977

Date of Appointment :

31.07.2012

DIN No.:

05331136

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Dinesh Karshanbhai Patel

 

150000

Mukesh Vishrambhai Patel

 

95000

Bharatbhai Gangarambhai Patel

 

10000

Chunilal Vishrambhai Patel

 

30000

Dhrumil Rakeshbhai Amin

 

62500

Dhruv Pragneshbhai Amin

 

62500

Dimpleben Mukeshbhai Patel

 

20000

Dishank Kanaiyalal Soni

 

62500

Gangarambahi Dhayabhai Patel

 

57500

Hasmukhbhai Shivdasbhai Patel

 

100000

Hasmukhbhai Shivdasbhai Patel (HUF)

 

100000

Hetalben Dineshbhai Patel

 

50000

Indiraben Chunilal Patel

 

10000

Karshanbhai Devjibhai Patel (HUF)

 

220000

Laxmiben Vishrambhai Patel

 

40000

Maniben Karshanbhai Patel

 

150000

Mukeshbhai Vishrambhai Patel (HUF)

 

45000

Nandlal Ramlal Patel

 

62500

Pinalben Sureshbhai Patel

 

25000

Prakash Karshanbhai Patel

 

100000

Prakash Karshanbhai Patel (HUF)

 

180000

Pursottambahi Karshanbhai Patel

 

50000

Rajeshbhai Dhansukhbhai Patel

 

62500

Shital Vinod Patel

 

250000

Sureshbhai Gangarambhai Patel

 

85000

Vinaben Bharatbhai Patel

 

10000

Vishram Sivgan Patel (HUF)

 

45000

Vishram Sivgan Patel

 

90000

Dhirajkumar Dhanjibhai Patel

 

30000

Kalpeshkumar Kantilal Patel

 

30000

Kantibhai Dhanjibhai Patel

 

35000

Kanubhai Dhanjibhai Patel

 

30000

Karshanbhai Devjibhai Patel 

 

100000

Ravjibhai Valjibhai Patel

 

50000

 

 

 

Total

 

2500000

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2015

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Mild Steel Electrically Resistance Welding (M.S. ERW) Pipes.

 

 

Products :
  • ERW Pipes and Tubes
  • Steel Tubes
  • Seam Pipes
  • MS Hollow Section
  • Mild Steel Hollow Section
  • Rectangular Square Hollow Section

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • ERW Pipes and Tubes
  • Steel Tubes
  • Seam Pipes
  • MS Hollow Section
  • Mild Steel Hollow Section
  • Rectangular Square Hollow Section

Countries :
  • Africa
  • Middle East

 

 

Imports :

 

Products :

H.R. Coil

Countries :
  • Germany

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesaler and Retailers

 

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 :

50 (Approximately)

 

 

Bankers :

Bank Name

State Bank of India

Branch

Station Road, Dehgam, District Gandhi Nagar - 382 315, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

From Bank

 

(Primarily Secured By Hypothecation of Plant and Machinery and further the same facility has also been secured by Equitable mortgage in favour of State Bank of India on the Land and Building Immovable properties of directors and personal guarantees of some of the Directors)

 

(Repayable In 72 monthly Installments of Rs. 0.350 Million commencing from the month of March 2014)

21.743

14.901

 

 

 

Car Loan

0.496

0.000

 

 

 

Short-term borrowings

 

 

Loans repayable on demand

 

 

Working capital Loans from Bank

 

(Primarily Secured By Hypothecation of stock and receivables and further the same facility has also been secured by Equitable mortgage in favour of State Bank of India on the Land and Building Immovable properties of directors and personal guarantees of some of the Directors)

 

40.676

0.000

 

 

 

Total

62.915

14.901

 

 

 

Auditors :

 

Name :

Ambalal Patel and Company

Chartered Accountants

Address :

1st Floor, Sapphire Business Center, Above SBI Vadaj Branch, Usmanpura, Ashram Road, Ahmedabad – 380013, Gujarat, India

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

AABFA3490K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.214

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2750000

Equity Shares

Rs.10/- each

Rs.27.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2500000

Equity Shares

Rs.10/- each

Rs.25.000 Million

 

 

 

 

 

 

ABRIDGED BALANCE SHEET

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

25.000

25.000

(b) Reserves & Surplus

 

(0.373)

(0.386)

(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)

 

24.627

24.614

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

58.495

28.381

(b) Deferred tax liabilities (Net)

 

0.737

0.000

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

59.232

28.381

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

46.018

0.000

(b) Trade payables

 

16.727

0.413

(c) Other current liabilities

 

8.675

1.138

(d) Short-term provisions

 

0.000

0.000

Total Current Liabilities (4)

 

71.420

1.551

 

 

 

 

TOTAL

 

155.279

54.546

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

51.441

0.000

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

46.637

(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

 

2.159

2.409

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

53.600

49.046

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

51.924

0.000

(b) Inventories

 

42.311

0.640

(c) Trade receivables

 

0.098

0.000

(d) Cash and cash equivalents

 

4.487

3.824

(e) Short-term loans and advances

 

2.859

1.036

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

101.679

5.500

 

 

 

 

TOTAL

 

155.279

54.546

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

 

359.759

0.000

 

 

Other Income

 

0.232

0.000

 

 

TOTAL                                    

 

359.991

0.000

 

 

 

 

 

Less

TOTAL EXPENSES

 

355.681

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

 

4.310

(0.386)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

 

3.391

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX

 

0.919

(0.386)

 

 

 

 

 

Less

TAX                                                                 

 

0.906

0.000

 

 

 

 

 

 

PROFIT AFTER TAX

 

0.013

(0.386)

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

0.01

(0.15)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2014

31.03.2013

Current Maturities of Long term debt

 

NA

NA

Cash generated from operations

 

NA

NA

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin
(PAT / Sales)

(%)
 

0.00

NA

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

1.20

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

0.59

0.00

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.04

0.00

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

4.24

1.15

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.42

3.55

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Share Capital

25.000

25.000

Reserves & Surplus

(0.386)

(0.373)

Money received against share warrants

0.000

0.000

Share Application money pending allotment

0.000

0.000

Net worth

24.614

24.627

 

 

 

long-term borrowings

28.381

58.495

Short term borrowings

0.000

46.018

Total borrowings

28.381

104.513

Debt/Equity ratio

1.153

4.244

 

 

 

 

 

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

Yes

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

Yes

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 two 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

 

PERFORMANCE:

 

The Company has reported income from operation during the year of Rs. 359.759 Million. The Company has earned net profit of Rs. 0.013 Million as compared to previous year incurred net loss of Rs. 0.386 Million. With a view to conserve reserve, the Directors do not recommend any dividend for the financial year ended, 31 March, 2014.

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans and advances from related parties

 

 

From Directors

4.341

1.590

From Share holders

18.278

5.852

 

 

 

Loans and advances from other parties

 

 

From Share holders

13.637

6.038

 

 

 

Short-term borrowings

 

 

Inter Corporate Deposits

5.342

0.000

 

 

 

Total

41.598

13.480

 

 

 

 

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10528473

22/10/2014

98,500,000

The Cosmos Co Operative Bank Limited

Naroda Industrial Estate Branch, G.I.D.C. Estate,
Naroda, Ahmedabad, Gujarat - 382330, INDIA

C31808850

2

10528416

14/10/2014

98,500,000

The Cosmos Co-Operative Bank Limited.

Naroda Industrial Estate Branch, G.I.D.C. Estate,
Naroda, Ahmedabad, Gujarat - 382330, INDIA

C31766975

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and Equipment
  • Furniture and Fixtures
  • Vehicles
  • Office Equipment

 

 

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.63.60

UK Pound

1

Rs.97.26

Euro

1

Rs.69.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

RKA

 

 

Analysis Done by :

KSP

 

 

Report Prepared by :

DDD

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

26

 

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 unfavorable 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.