MIRA INFORM REPORT
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Report No. : |
313327 |
|
Report Date : |
21.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
HARMAN SALES PRIVATE LIMITED |
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Registered
Office : |
201/A, Byculla Service Industrial Estate, Mumbai – 400027, Maharashtra
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.09.1988 |
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Com. Reg. No.: |
11-048836 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.210 Million |
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CIN No.: [Company Identification
No.] |
U29290MH1988PTC048836 |
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|
IEC No.: |
0389027545 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07285F |
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PAN No.: [Permanent Account No.] |
AAACH2731C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Machinery used in Leather Industry. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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.
EXTERNAL AGENCY RATING
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 PARTED BY
|
Name : |
Mr. Dayanand Khanolkar |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-28454806 |
|
Date : |
19.03.2015 |
LOCATIONS
|
Registered Office : |
201/A, Byculla Service Industrial Estate, Mumbai – 400027,
Maharashtra, India |
|
Tel. No. : |
91-22-28454806 |
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Fax No. : |
91-22-28454147 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Head Office : |
Harman House, 5B, Royal Industrial Estate, Near
Prasad Hotel, W.E.Highway, Kashimira Road, Thane - 401104, Maharashtra, India |
|
Tel. No.: |
91-22-28454806/ 28454807/ 28454808 |
|
Fax No.: |
91-22-28454147 |
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E-Mail : |
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|
|
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Branch Offices : |
Located at · Noida · Kanpur · Kolkata · Chennai · Calicut |
DIRECTORS
As on 30.09.2014
|
Name : |
Vaishali Jeevan Razdan |
|
Designation : |
Director |
|
Address : |
B-1004, Highland Park, Oshi Wara, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
06.02.1987 |
|
Date of Appointment : |
25.08.2005 |
|
DIN No. : |
01000391 |
|
|
|
|
Name : |
Sushma Jeevan Razdan |
|
Designation : |
Director |
|
Address : |
B-1004, Highland Park, Oshi Wara, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1962 |
|
Date of Appointment : |
02.05.1990 |
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DIN No. : |
01001672 |
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|
|
|
Name : |
Mr. Jeevan Harikrishen Razdan |
|
Designation : |
Director |
|
Address : |
B-1004, Highland Park, Oshi Wara, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1959 |
|
Date of Appointment : |
14.09.1988 |
|
DIN No. : |
01025935 |
|
|
|
|
Name : |
Mr. Harikrishen Mohanlal Razdan |
|
Designation : |
Director |
|
Address : |
3F Happy Home, 28 A Napean Sea Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
18.11.1930 |
|
Date of Appointment : |
14.09.1988 |
|
DIN No. : |
02103024 |
KEY EXECUTIVES
|
Name : |
Mr. Dayanand Khanolkar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Harikrishen Mohanlal Razdan |
750 |
35.71 |
|
Jeevan Harikrishen Razdan |
120 |
5.71 |
|
Sushma Jeevan Razdan |
730 |
34.76 |
|
Vaishali Jeevan Razdan |
500 |
23.81 |
|
Total |
2100 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Machinery used in Leather Industry. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
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Products : |
Machinery |
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Countries : |
· Korea · Italy · China |
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Terms : |
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Selling : |
Cash, L/C, Cheque and Credit (30 Days/ 60 Days/ 90 Days) |
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Purchasing : |
Cash, L/C, Cheque and Credit (30 Days/ 60 Days/ 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
· HDFC Bank Limited |
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Facilities : |
NOTE: The above borrowings are of Cash Credit facilities and
secured against Fixed Deposit Receipts. |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Mahaveer Sharma and Company Chartered Accountants |
|
Address : |
Krishna Bhavan, 3rd Floor, 511, S.V.P. Road, Mumbai – 400004, Maharashtra, India |
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Tel. No. : |
91-22-30203515/ 30023885 |
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Fax No. : |
91-22-23885055 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAQPS2706M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000 |
Equity Shares |
Rs.100/- each |
Rs. 0.800 Million |
|
2,000 |
Preference Shares |
Rs.100/- each |
Rs. 0.200 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,100 |
Equity Shares |
Rs.100/- each |
Rs. 0.210 Million |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
0.210 |
0.210 |
0.210 |
|
(b) Reserves & Surplus |
123.513 |
113.029 |
104.829 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
123.723 |
113.239 |
105.039 |
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|
|
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|
(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 |
|
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|
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(4) Current Liabilities |
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|
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|
(a) Short
term borrowings |
4.212 |
5.932 |
0.000 |
|
(b) Trade
payables |
37.493 |
28.842 |
31.000 |
|
(c) Other
current liabilities |
12.905 |
8.896 |
7.458 |
|
(d) Short-term
provisions |
6.128 |
6.085 |
7.544 |
|
Total Current
Liabilities (4) |
60.738 |
49.755 |
46.002 |
|
|
|
|
|
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TOTAL |
184.461 |
162.994 |
151.041 |
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II.
ASSETS |
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|
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(1) Non-current assets |
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(a) Fixed
Assets |
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|
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|
(i)
Tangible assets |
22.677 |
19.410 |
20.032 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
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 |
0.261 |
0.197 |
0.130 |
|
(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 |
0.001 |
|
Total Non-Current
Assets |
22.938 |
19.607 |
20.163 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
33.881 |
33.534 |
28.709 |
|
(c) Trade
receivables |
56.333 |
50.447 |
45.891 |
|
(d) Cash
and cash equivalents |
4.854 |
3.718 |
4.396 |
|
(e) Short-term
loans and advances |
66.455 |
55.688 |
51.882 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
161.523 |
143.387 |
130.878 |
|
|
|
|
|
|
TOTAL |
184.461 |
162.994 |
151.041 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
192.372 |
150.193 |
207.734 |
|
|
|
Other Income |
60.049 |
46.173 |
37.836 |
|
|
|
TOTAL (A) |
252.421 |
196.366 |
245.570 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost Material Consumed |
159.015 |
|
|
|
|
|
Direct Expenses |
0.437 |
0.224 |
|
|
|
|
Changes in Inventories of Stock in Trade |
(0.347) |
(4.825) |
|
|
|
|
Employees Benefit Expenses |
20.580 |
17.227 |
|
|
|
|
Other Expenses |
50.144 |
41.335 |
|
|
|
|
TOTAL (B) |
229.829 |
178.678 |
223.330 (Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
22.592 |
17.688 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.496 |
0.449 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.096 |
17.239 |
22.240 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.389 |
3.008 |
3.082 |
|
|
|
|
|
|
|
|
|
Less |
EXTRA-ORDINARY ITEMS W/OFF |
-- |
-- |
0.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
17.707 |
14.231 |
19.141 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.129 |
6.085 |
7.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
11.578 |
8.146 |
11.596 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spares |
NA |
34.822 |
32.712 |
|
|
|
Machinery |
NA |
18.871 |
63.587 |
|
|
TOTAL IMPORTS |
NA |
53.693 |
96.299 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5514.00 |
3879.05 |
5521.90 |
|
Expected Sales (2014-2015): Rs. 250.000 Millions
The above information has been parted by Mr. Dayanand Khanolkar
(Accountant).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.02 |
5.42 |
5.58 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.74 |
11.78 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.61 |
8.74 |
12.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.13 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.05 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.66 |
2.88 |
2.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.210 |
0.210 |
0.210 |
|
Reserves & Surplus |
104.829 |
113.029 |
123.513 |
|
Net
worth |
105.039 |
113.239 |
123.723 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
5.932 |
4.212 |
|
Total
borrowings |
0.000 |
5.932 |
4.212 |
|
Debt/Equity
ratio |
0.000 |
0.052 |
0.034 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
207.734 |
150.193 |
192.372 |
|
|
|
(27.699) |
28.083 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
207.734 |
150.193 |
192.372 |
|
Profit |
11.596 |
8.146 |
11.578 |
|
|
5.58% |
5.42% |
6.02% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90236463 |
29/09/2005 |
2,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWER, BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA, INDIA |
- |
FIXED ASSETS
· Furniture
· Office Equipment
· Electrical Equipment
· Plant and Machinery
· Vehicle
· Motor Car
· Machinery
· Air Conditioner
· Computer
· Elec. Fittings
· Furniture and Fixtures
· Office Equipment
· Scooter
· Water Tank
· Xerox Machine
· Tube Well
· Fax Machine
· Television
· Refrigerator
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.