MIRA INFORM REPORT
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Report No. : |
347545 |
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Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHAVARE ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
Plot No. D-32, MIDC, Phase II, Dombivli (East), Thane – 421204, Maharashtra |
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Mobile No.: |
91-8691004638 (Ms. Sayalee Joshi) |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.06.1996 |
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Com. Reg. No.: |
11-100426 |
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Capital Investment
/ Paid-up Capital : |
Rs.40.000 Million |
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CIN No.: [Company Identification
No.] |
U29100MH1996PTC100426 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader, Exporter and Importer of Control Panels and also
engaged in Software Development. |
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No. of Employees
: |
83 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 405000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company and it is having a satisfactory track
record. During FY14, the company have reported minimal decline into is
reserves from its previous year 2013. However, rating on company takes consideration on the promoter’s
extensive experience in its industry, satisfactory financial risk profile
characterized by low leverage, comfortable liquidity position. Trade relations are 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Sayalee Joshi |
|
Designation : |
Senior Accountant |
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Contact No.: |
91-8691004638 |
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Date : |
28.10.2015 |
LOCATIONS
|
Registered Office : |
Plot No. D-32, MIDC, Phase II, Dombivli (East), Thane – 421204, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-8691004638 (Ms. Sayalee Joshi) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office /
Manufacturing Unit: |
Plot No.TS-19, M.I.D.C., Phase II, Dombivli (East), District: Thane – 421 204, Maharashtra, India |
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Tel. No.: |
91-251-2870531/ 2870532/ 2871737 |
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Fax No.: |
91-251-2870531/ 2870532/ 2871737 |
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Regional Office: |
S-17, Second Floor, Aditya Mega City, Vaibhav Khand
Park |
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Tel. No.: |
91-120-4132700 |
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Fax No.: |
91-120-4132700 |
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Warehouse : |
Unit – 3, Amar Industrial Estate, Nandivali Bhopar Road, Dombivli (East), Thane – 421204, Maharashtra, India |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Sanjay Ratnakar Chavare |
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Designation : |
Director |
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Address : |
2, Rasraj, RM 68, Residential Zone, MIDC, Dombivli, Thane – 421203, Maharashtra, India |
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Date of Birth/Age : |
28.10.1960 |
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Date of Appointment : |
21.06.1996 |
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DIN No.: |
01278218 |
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Other Directorship
:
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Name : |
Rajesh Ratnakar Chavare |
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Designation : |
Director |
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Address : |
101, 1st Floor, Sargam, Plot No.R15, Sudarshan Nagar, MIDC, Dombivli (East), Thane – 421203, Maharashtra, India |
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Date of Birth/Age : |
31.07.1964 |
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Date of Appointment : |
21.06.1996 |
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DIN No.: |
01278267 |
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Other Directorship
:
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KEY EXECUTIVES
|
Name : |
Ms. Sayalee Joshi |
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Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Sanjay Ratnakar Chavare |
98000 |
24.50 |
|
Rajesh Ratnakar Chavare |
98000 |
24.50 |
|
SFC Environmental Technologies Private Limited, India |
204000 |
51.00 |
|
Total |
400000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
51.00 |
|
Directors or relatives of Directors |
49.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Control Panels and also
engaged in Software Development. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Korea |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
83 (Approximately) |
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Bankers : |
The Abhinav Sahakari Bank Limited, M.I.D.C. Branch, Dombvili - 421202, Maharashtra, India |
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Facilities : |
Advanced obtained from bank of India in the nature of cash credit
against principal security of hypothecation of stock and book debts and
collateral security of by way of equitable mortgage of land and building and hypothecation
of plant and machineries. Bank guarantee (Inland) and LC obtained against principal security of
bank’s TDR by of LC/BG margin. Cash Credits are also guaranteed by Directors of the company. Duration is 12 months (subject to renewal), the rate of interest is
13.25%. |
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Auditors : |
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Name : |
Bhat Kelkar and Company Chartered Accountants |
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Address : |
202, Pushpa-Dev, Tai Pingle Chowk, Above Seva Blood Bank, Dombivli
(East), Dombivli – 421201, Maharashtra |
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Tel. No.: |
91-251-2437080 |
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Mobile No.: |
91-9820423017/ 9820750677 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AADFD7999J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
SFC Environmental Technologies Private Limited [U90000MH2005PTC152235] |
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Other related party : |
Raj Precision Sheet Metal Engineering Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000 |
Equity Shares |
Rs.100/- each |
Rs.40.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000 |
Equity Shares |
Rs.100/- each |
Rs.40.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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|
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
40.000 |
40.000 |
40.000 |
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(b) Reserves &
Surplus |
101.796 |
108.303 |
92.460 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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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) |
141.796 |
148.303 |
132.460 |
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(3) Non-Current
Liabilities |
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|
|
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(a) long-term borrowings |
0.000 |
0.000 |
0.180 |
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(b) Deferred tax
liabilities (Net) |
(0.298) |
0.011 |
0.120 |
|
(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) |
(0.298) |
0.011 |
0.300 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
7.777 |
50.261 |
21.814 |
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(b) Trade payables |
163.053 |
99.523 |
63.721 |
|
(c) Other current
liabilities |
33.767 |
31.117 |
7.705 |
|
(d) Short-term provisions |
27.164 |
20.138 |
14.692 |
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Total Current Liabilities
(4) |
231.761 |
201.039 |
107.932 |
|
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|
|
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TOTAL |
373.259 |
349.353 |
240.692 |
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
58.789 |
59.966 |
65.348 |
|
(ii) Intangible Assets |
1.311 |
1.010 |
0.344 |
|
(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 |
0.610 |
0.610 |
0.610 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.541 |
0.351 |
0.398 |
|
(e) Other Non-current
assets |
18.248 |
17.064 |
28.168 |
|
Total Non-Current Assets |
79.499 |
79.001 |
94.868 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
73.409 |
45.498 |
30.700 |
|
(c) Trade receivables |
170.107 |
159.761 |
94.676 |
|
(d) Cash and cash
equivalents |
13.317 |
31.351 |
11.664 |
|
(e) Short-term loans and
advances |
0.857 |
0.622 |
0.360 |
|
(f) Other current assets |
36.070 |
33.120 |
8.424 |
|
Total Current Assets |
293.760 |
270.352 |
145.824 |
|
|
|
|
|
|
TOTAL |
373.259 |
349.353 |
240.692 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
470.600 |
451.417 |
299.742 |
|
|
Other Income |
NA |
2.385 |
1.514 |
|
|
TOTAL |
NA |
453.802 |
301.256 |
|
|
|
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|
|
|
|
EXPENSES |
|
|
|
|
|
TOTAL |
NA |
430.012 |
301.256 |
|
|
|
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|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
NA |
23.626 |
24.718 |
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|
|
|
|
|
|
|
TAX |
NA |
7.783 |
8.440 |
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|
PROFIT/ (LOSS) AFTER TAX
|
12.212 |
15.843 |
16.621 |
|
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EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
19.135 |
115.729 |
3.796 |
|
|
TOTAL EARNINGS |
19.135 |
115.729 |
3.796 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
30.53 |
39.61 |
41.5 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.573 |
2.761 |
0.389 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.59 |
3.51 |
5.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
6.77 |
10.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.16 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07 |
0.36 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.34 |
1.35 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
40.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
92.460 |
108.303 |
101.796 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
132.460 |
148.303 |
141.796 |
|
|
|
|
|
|
long-term borrowings |
0.180 |
0.000 |
0.000 |
|
Short term borrowings |
21.814 |
50.261 |
7.777 |
|
Current Maturities of
Long Term Debt |
0.389 |
2.761 |
2.573 |
|
Total borrowings |
22.383 |
53.022 |
10.350 |
|
Debt/Equity ratio |
0.169 |
0.358 |
0.073 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
299.742 |
451.417 |
470.600 |
|
|
|
50.602 |
4.250 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
299.742 |
451.417 |
470.600 |
|
Profit |
16.621 |
15.843 |
12.212 |
|
|
5.55% |
3.51% |
2.59% |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10589024 |
10/08/2015 |
160,000,000.00 |
IDBI BANK LIMITED |
DAMALE BLDG.,PHADAKE ROAD, BAJI PRABHU CHOWK, DOMBIVALI(EAST), DOMBIVALI - 421201, MAHARASHTRA, INDIA |
C63165146 |
|
2 |
10589595 |
18/11/2014 |
160,000,000.00 |
IDBI BANK LIMITED |
DAMALE BLDG.,PHADAKE ROAD, BAJI PRABHU CHOWK, DOMBIVALI(EAST), DOMBIVALI - 421201, MAHARASHTRA, INDIA |
C63494207 |
FINANCIAL HIGHLIGHT
There is marginal increase in the revenue from
operations from Rs.451.400 Million to Rs.470.600 Million. This is mainly due to
sharp decrease in the Export sales to Rs.19.100 Million from Rs.115.700 Million
due to lesser number of enquiries from the customers. The slowdown in the
export sales shelled out to the major extent by the growth in manufacturing
sales and revenue from trading. There is decrease in the profit before tax as compared
to last financials due to major increase in financial costs on account of
servicing of interest.
FIXED ASSETS:
·
Land
·
Building
·
Computer
·
Motor Car
·
Plant and Machinery
·
Equipment
·
Factory Equipment
·
Furniture
·
Cellular Phone
·
Air Conditioner
·
Two-Wheeler
·
Software
·
Telephone
·
Fax Machine
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.65.47 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.