MIRA INFORM REPORT

 

 

Report No. :

329007

Report Date :

25.06.2015

 

IDENTIFICATION DETAILS

 

Name :

LONDON METALS & COMMODITIES LIMITED

 

 

Registered Office :

Suite 164 8 Shepherd Market Mayfair W1J 7JY

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.10.2013

 

 

Date of Incorporation :

04.05.1988

 

 

Com. Reg. No.:

02250575

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Trading in physical metal for export and acting as agents for manufacturers of metals and textiles.

 

 

No. of Employees :

02

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

 

 

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)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. In 2008, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

 

Source : CIA

 

 

Company name and address

 

Company Name            LONDON METALS & COMMODITIES LIMITED

 

Company Nos :            02250575

 

 

Company Summary

 

Registered Address

SUITE 164
8 SHEPHERD MARKET
MAYFAIR
W1J 7JY

Trading Address

Park Towers
2 Brick Street
London
London
W1J 7DD

Website Address          http://www.londonmetals.org

FPS                              No

Incorporation Date       04/05/1988

Type                              Private limited with Share Capital

Filing Date of Accounts  11/01/2014

Currency                         GBP

Share Capital                  £5,559,600

SIC07                             46720

SIC07 Description        WHOLESALE OF METALS AND METAL ORES

Principal Activity          Trading in physical metal for export and acting as agents for manufacturers of metals and textiles.

 

Key Financials

 

Year to Date  Turnover             Pre Tax Profit               Shareholder  Funds     Employees

31/10/2013         £33,757,321     £331,306                       £555,047                       2

31/10/2012         £41,229,185     £165,962                       £223,751                        2

31/10/2011         £62,691,456     £258,119                       £58,973                         2

 

 

Mortgage Summary

 

Total Mortgage                         3

Outstanding                             2

Satisfied                                   1

 

Commentary

 

No exact match CCJs are recorded against the company.

Net Worth increased by 148.1% during the latest trading period.

Pre-tax profits increased by 99.6% compared to the previous trading period.

 

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

-

 

Back to Tophttp://app.creditsafeuk.com/CSUKlive/Images/Up.jpg

Show more

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

3

 

 

Current Directors

 

Name

Balwant Singh Maru

Date of Birth

08/07/1941

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

14/11/1991

Address

211 The Quadrangle Tower Cambridge Square, London, W2 2PJ

Disqualified

Disqualified End Date

Disqualification Exception

No

 

Name

Rama Kant Rathi

Date of Birth

11/01/1941

Officers Title

Mr

Nationality

Swiss

Present Appointments

3

Function

Director

Appointment Date

14/11/1991

Address

Hanibuhl 19, 6301 Zug

Disqualified

Disqualified End Date

Disqualification Exception

No

 

 

Current Company Secretary

 

Name

Bharatkumar Manilal Gadhia

Date of Birth

-

Officers Title

Mr

Nationality

Present Appointments

1

Function

Company Secretary

Appointment Date

28/08/2012

Address

28b Collier Drive, Edgware, Middlesex, HA8 5RT

Other Actions

View Consumer Report

View Trace Report

Disqualified

Disqualified End Date

Disqualification Exception

No

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

SOUTH EAST ASIAN EXPORT SERVICES INC.

GBP

5,559,600

ORDINARY

1

100

 

 

Profit & Loss

 

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

http://static.creditsafe.com/IMAGES/barchart-grey.png

Turnover

£33,757,321

-18.1%

£41,229,185

-34.2%

£62,691,456

58.8%

£39,488,554

145.1%

£16,108,203

http://static.creditsafe.com/IMAGES/barchart-grey.png

Export

£30,542,376

-17.1%

£36,863,491

-34.9%

£56,618,427

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Cost of Sales

£33,113,007

-18.7%

£40,751,045

-34.4%

£62,107,433

59.3%

£38,989,567

149.5%

£15,624,350

http://static.creditsafe.com/IMAGES/barchart-grey.png

Gross Profit

£644,314

34.8%

£478,140

-18.1%

£584,023

17%

£498,987

3.1%

£483,853

http://static.creditsafe.com/IMAGES/barchart-grey.png

Wages & Salaries

£70,359

5.5%

£66,702

10.7%

£60,275

13%

£53,319

16.4%

£45,813

http://static.creditsafe.com/IMAGES/barchart-grey.png

Directors Emoluments

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Operating Profit

£331,258

99.7%

£165,907

-35.7%

£258,065

22.6%

£210,452

18.4%

£177,720

http://static.creditsafe.com/IMAGES/barchart-grey.png

Depreciation

£3,175

1%

£3,143

74.3%

£1,803

-

-

-100%

£2,219

http://static.creditsafe.com/IMAGES/barchart-grey.png

Audit Fees

£7,000

-16.7%

£8,400

68%

£5,000

66.7%

£3,000

66.7%

£1,800

http://static.creditsafe.com/IMAGES/barchart-grey.png

Interest Payments

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Pre Tax Profit

£331,306

99.6%

£165,962

-35.7%

£258,119

22.1%

£211,353

18.5%

£178,302

http://static.creditsafe.com/IMAGES/barchart-grey.png

Taxation

-£10

99.2%

-£1,184

99.6%

-£293,769

-

-

100%

-£493

http://static.creditsafe.com/IMAGES/barchart-grey.png

Profit After Tax

£331,296

101.1%

£164,778

562.2%

-£35,650

-116.9%

£211,353

18.9%

£177,809

http://static.creditsafe.com/IMAGES/barchart-grey.png

Dividends Payable

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Retained Profit

£331,296

101.1%

£164,778

562.2%

-£35,650

-116.9%

£211,353

18.9%

£177,809

 

 

Balance Sheet

 

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Tangible Assets

£17,988

1%

£17,807

2.1%

£17,446

-0.9%

£17,609

143.6%

£7,229

http://static.creditsafe.com/IMAGES/barchart-grey.png

Intangible Assets

0

-

0

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Fixed Assets

£17,988

1%

£17,807

2.1%

£17,446

-0.9%

£17,609

143.6%

£7,229

http://static.creditsafe.com/IMAGES/barchart-grey.png

Stock

£1,907,703

30.2%

£1,464,963

-32.2%

£2,160,349

-17.3%

£2,611,019

31.7%

£1,982,938

http://static.creditsafe.com/IMAGES/barchart-grey.png

Trade Debtors

£2,450,144

-49.1%

£4,817,285

0%

£4,816,035

-31.4%

£7,015,394

118.2%

£3,215,098

http://static.creditsafe.com/IMAGES/barchart-grey.png

Cash

£196,865

-64.8%

£558,874

11.9%

£499,369

77%

£282,108

-32.1%

£415,673

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Debtors

£109,384

-82.8%

£636,915

333.8%

£146,829

-56.9%

£340,866

-29.9%

£485,972

http://static.creditsafe.com/IMAGES/barchart-grey.png

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Current Assets

£4,664,096

-37.6%

£7,478,037

-1.9%

£7,622,582

-25.6%

£10,249,387

68%

£6,099,681

http://static.creditsafe.com/IMAGES/barchart-grey.png

Trade Creditors

£1,177,159

-47.8%

£2,255,144

30.4%

£1,729,364

27.4%

£1,357,850

-47.4%

£2,582,309

http://static.creditsafe.com/IMAGES/barchart-grey.png

Bank Loans & Overdrafts

£921,508

-69.7%

£3,037,102

-21.4%

£3,863,263

-42.1%

£6,671,485

367.4%

£1,427,493

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Short Term Finance

0

-

0

-

0

-100%

£1,883,594

3.8%

£1,813,894

http://static.creditsafe.com/IMAGES/barchart-grey.png

Miscellaneous Current Liabilities

£158,745

34.5%

£117,996

0.6%

£117,287

-54.8%

£259,444

-35.1%

£399,944

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Current Liabilities

£2,257,412

-58.3%

£5,410,242

-5.2%

£5,709,914

-43.9%

£10,172,373

63.4%

£6,223,640

http://static.creditsafe.com/IMAGES/barchart-grey.png

Bank Loans & Overdrafts and LTL

£2,791,133

-43%

£4,898,953

-14.6%

£5,734,404

-14%

£6,671,485

367.4%

£1,427,493

http://static.creditsafe.com/IMAGES/barchart-grey.png

Other Long Term Finance

£1,869,625

0.4%

£1,861,851

-

0

-

0

-

0

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Long Term Liabilities

£1,869,625

0.4%

£1,861,851

-0.5%

£1,871,141

-

0

-

0

.

Capital & Reserves

 

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Called Up Share Capital

£5,559,600

-

£5,559,600

-

£5,559,600

-

£5,559,600

-

£5,559,600

http://static.creditsafe.com/IMAGES/barchart-grey.png

P & L Account Reserve

-£5,004,553

6.2%

-£5,335,849

3%

-£5,500,627

-0.7%

-£5,464,977

3.7%

-£5,676,330

http://static.creditsafe.com/IMAGES/barchart-grey.png

Revaluation Reserve

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Sundry Reserves

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Shareholder Funds

£555,047

148.1%

£223,751

279.4%

£58,973

-37.7%

£94,623

181.1%

-£116,730

 

 

Other Financial Items

 

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Worth

£555,047

148.1%

£223,751

279.4%

£58,973

-37.7%

£94,623

181.1%

-£116,730

http://static.creditsafe.com/IMAGES/barchart-grey.png

Working Capital

£2,406,684

16.4%

£2,067,795

8.1%

£1,912,668

999.9%

£77,014

162.1%

-£123,959

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Assets

£4,682,084

-37.5%

£7,495,844

-1.9%

£7,640,028

-25.6%

£10,266,996

68.1%

£6,106,910

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Liabilities

£4,127,037

-43.2%

£7,272,093

-4.1%

£7,581,055

-25.5%

£10,172,373

63.4%

£6,223,640

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Assets

£555,047

148.1%

£223,751

279.4%

£58,973

-37.7%

£94,623

181.1%

-£116,730

 

 

Cash Flow

 

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Cashflow from Operations

£1,756,903

97.3%

£890,298

-73.2%

£3,320,829

161.9%

-£5,368,078

-774.6%

£795,723

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Cashflow before Financing

£1,753,585

98%

£885,665

-70.7%

£3,025,484

156.3%

-£5,377,557

-778.7%

£792,333

http://static.creditsafe.com/IMAGES/barchart-grey.png

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

http://static.creditsafe.com/IMAGES/barchart-grey.png

Increase in Cash

£1,753,585

98%

£885,665

-70.7%

£3,025,484

156.3%

-£5,377,557

-778.7%

£792,333

 

 

Miscellaneous

 

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

http://static.creditsafe.com/IMAGES/barchart-grey.png

Capital Employed

£2,424,672

16.3%

£2,085,602

8.1%

£1,930,114

999.9%

£94,623

181.1%

-£116,730

http://static.creditsafe.com/IMAGES/barchart-grey.png

Number of Employees

2

-

2

-

2

-

2

-

2

Auditors

VORA & COMPANY

Auditor Comments

The audit report contains no adverse comments

Bankers

UNION BANCAIRE PRIVEE

Bank Branch Code

23-19-35

 

 

Ratios

 

Date Of Accounts

31/10/13

31/10/12

31/10/11

31/10/10

31/10/09

http://static.creditsafe.com/IMAGES/barchart-grey.png

Pre-tax profit margin %

0.98

0.40

0.41

0.54

1.11

http://static.creditsafe.com/IMAGES/barchart-grey.png

Current ratio

2.07

1.38

1.33

1.01

0.98

http://static.creditsafe.com/IMAGES/barchart-grey.png

Sales/Net Working Capital

14.03

19.94

32.78

512.75

-129.95

http://static.creditsafe.com/IMAGES/barchart-grey.png

Gearing %

502.90

2189.50

9723.80

7050.60

-1222.90

http://static.creditsafe.com/IMAGES/barchart-grey.png

Equity in %

11.90

3

0.80

0.90

-1.90

http://static.creditsafe.com/IMAGES/barchart-grey.png

Creditor Days

12.69

19.90

10.04

12.51

58.35

http://static.creditsafe.com/IMAGES/barchart-grey.png

Debtor Days

26.41

42.53

27.96

64.66

72.65

http://static.creditsafe.com/IMAGES/barchart-grey.png

Liquidity/Acid Test

1.22

1.11

0.95

0.75

0.66

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return On Capital Employed %

13.66

7.95

13.37

223.36

-152.74

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return On Total Assets Employed %

7.07

2.21

3.37

2.05

2.91

http://static.creditsafe.com/IMAGES/barchart-grey.png

Current Debt Ratio

4.06

24.17

96.82

107.50

-53.31

http://static.creditsafe.com/IMAGES/barchart-grey.png

Total Debt Ratio

7.43

32.50

128.55

107.50

-53.31

http://static.creditsafe.com/IMAGES/barchart-grey.png

Stock Turnover Ratio %

5.65

3.55

3.44

6.61

12.31

http://static.creditsafe.com/IMAGES/barchart-grey.png

Return on Net Assets Employed %

59.68

74.17

437.69

223.36

-152.74

 

 

Event History

 

Date

Description

19/12/2014

Annual Returns

18/01/2014

New Accounts Filed

18/01/2014

New Accounts Filed

07/12/2013

Annual Returns

26/01/2013

New Accounts Filed

26/01/2013

New Accounts Filed

25/12/2012

Annual Returns

30/08/2012

Mr B.S. Maru has resigned as company secretary

30/08/2012

New Company Secretary Mr B.M. Gadhia appointed

27/06/2012

New Accounts Filed

19/04/2012

Change in Reg.Office

19/04/2012

Change of Company Postcode

17/01/2012

Annual Returns

12/01/2012

Change in Reg.Office

12/01/2012

Change of Company Postcode

 

Previous Company Names

No Previous Names found

 

Writ Details

No writs found

 

Statistics

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

SOUTH EAST ASIAN EXPORT SERVICES INC

 

Group structure Full

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

SOUTH EAST ASIAN EXPORT...

 

N/A

-

-

LONDON METALS & COMMOD...

 

02250875

31.10.2013

N

£33,757,321

R T YARNS LIMITED

 

06881591

31.10.2013

N



Statistics

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Mortgage Details

 

Mortgage Type:

DEBENTURE

Date Charge Created:

31/07/00

Date Charge Registered:

08/08/00

Date Charge Satisfied:

16/06/12

Status:

SATISFIED

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

CASH DEPOSIT SECURITY TERMS.

Date Charge Created:

22/02/89

Date Charge Registered:

09/03/89

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

BANK OF CREDIT AND COMMERCE INTERNATIONAL SOCIETE ANONYME.

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

ALL MONIES STANDING TO THE CREDIT OF ANY DEPOSIT ACCOUNT IN THE COMPANYS NAME

 

Mortgage Type:

CONDITIONS FOR MULTI ACCOUNT CLIENTS.

Date Charge Created:

07/09/88

Date Charge Registered:

13/09/88

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

AMERICAN EXPRESS BANK LTD.

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

ALL MONEYS HELD ON ACCOUNT OF THE COMPANY BY THE BANK, ALL STOCKS, SHARES, SECURITIES, BULLION, GOLD& SILVER, DIVIDENDS, BONUSES & INTEREST.

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Balwant Singh Maru

5

2

Inuganti Narendar

0

1

Timothy Hugh Bearman

3

3

 

Average Invoice Value

£147

Invoices available

14

Paid

14

Outstanding

0

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

6

5

2

1

0

Outstanding

0

0

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.66

UK Pound

1

Rs.100.50

Euro

1

Rs.71.31

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

               

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 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%)

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.