MIRA INFORM REPORT

Report No. :	344138
Report Date :	06.10.2015

IDENTIFICATION DETAILS

Name :	PPM TECHNOLOGIES EMEA LTD

Registered Office :	Saxon House, Moseley's Farm Business Centre, Bury St Edmunds IP28 6JY

Country :	United Kingdom

Financials (as on) :	31.12.2014

Date of Incorporation :	02.06.2010

Com. Reg. No.:	07271824

Legal Form :	Private limited with Share Capital

Line of Business :	Manufacture of machinery for food, beverage and tobacco processing

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow

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

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 has been a net importer of energy since 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 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

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).

Source : CIA

Company Name

PPM TECHNOLOGIES EMEA LTD

Company No

07271824

Company Status

Active - Accounts Filed

Registered Address

SAXON HOUSE

MOSELEY'S FARM BUSINESS CENTRE

BURY ST EDMUNDS

IP28 6JY

Company Summary

Registered Address	SAXON HOUSE	Trading Address	Saxon House
	MOSELEY'S FARM BUSINESS		Moseley's Farm Business Centre
	CENTRE		Bury St Edmunds
	BURY ST EDMUNDS		Suffolk
	IP28 6JY		IP28 6JY
Website Address	http://www.ppmtech.com
Telephone Number	-	Fax Number
TPS	-	FPS	No
Incorporation Date	02/06/2010
Previous Name		Type	Private limited with Share Capital
		FTSE Index	-
Date of Change	-	Filing Date of Accounts	02/04/2015
Currency	GBP	Share Capital	£100
SIC07	28930	Charity Number	-
SIC07 Description	MANUFACTURE OF MACHINERY FOR FOOD, BEVERAGE AND TOBACCO PROCESSING
Principal Activity

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2014	-	-	-£1,858,625	-
31/12/2013	-	-	-£1,266,472	-
31/12/2012	-	-	-£805,907	-

Mortgage Summary

Total Mortgage	1
Outstanding	1
Satisfied	0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade	0
Total Value of Documented Trade	£0

Commentary

This company has been treated as a Small company in respect of the rating/limit generated.

This company has only made late payments on a low percentage of invoices.

The latest Balance Sheet indicates a negative net working capital position.

The negative debt/equity ratio indicates a Balance Sheet deficiency funded by creditors/debt.

There has been a reduction in shareholders funds compared with the previous balance sheet.

This company trades in an industry with a moderate level of corporate failures.

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 -

Total Current Directors	1
Total Current Secretaries	0
Total Previous Directors / Company Secretaries	4

Profit & Loss

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Turnover	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Export	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Cost of Sales	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Gross Profit	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Wages & Salaries	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Directors Emoluments	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Operating Profit	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Depreciation	£8,418	7.2%	£7,856	25.5%	£6,258	310.9%	£1,523	851.9%	£160
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Audit Fees	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Interest Payments	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Pre Tax Profit	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Taxation	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Profit After Tax	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Tangible Assets	£4,072	-67.4%	£12,490	-38.6%	£20,346	177.5%	£7,332	999.9%	£639
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Intangible Assets	£704,175	-8.4%	£768,825	-7.8%	£833,475	-7.7%	£902,535	-5%	£950,000
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Total Fixed Assets	£708,247	-9.4%	£781,315	-8.5%	£853,821	-6.2%	£909,867	-4.3%	£950,639
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Stock	£220,848	-28.4%	£308,626	10.4%	£279,518	-32.4%	£413,381	23.6%	£334,467
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Trade Debtors	£231,292	-43.1%	£406,578	-52.2%	£851,173	12.8%	£754,475	68.4%	£447,938
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Cash	£53,642	-57.5%	£126,118	-43.6%	£223,610	-0.8%	£225,439	328.1%	£52,665
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Other Debtors	0	-	0	-	0	-	0	-	0
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Total Current Assets	£505,782	-39.9%	£841,322	-37.9%	£1,354,301	-2.8%	£1,393,295	66.8%	£835,070
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Trade Creditors	£3,054,389	6.5%	£2,867,596	-2.8%	£2,951,587	38.4%	£2,133,118	10%	£1,939,360
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Other Short Term Finance	0	-	0	-	0	-	0	-	0
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Total Current Liabilities	£3,054,389	6.5%	£2,867,596	-2.8%	£2,951,587	38.4%	£2,133,118	10%	£1,939,360
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	£18,265	-15.1%	£21,513	-65.5%	£62,442	-25.8%	£84,139	999.9%	£3,750
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Other Long Term Finance	0	-	0	-	0	-	0	-	0
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Total Long Term Liabilities	£18,265	-15.1%	£21,513	-65.5%	£62,442	-25.8%	£84,139	999.9%	£3,750

Capital & Reserves

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	£100
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	P & L Account Reserve	-£1,858,725	-46.8%	-£1,266,572	-57.1%	-£806,007	-999.9%	£85,805	154.5%	-£157,501
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Sundry Reserves	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Shareholder Funds	-£1,858,625	-46.8%	-£1,266,472	-57.1%	-£805,907	-999.9%	£85,905	154.6%	-£157,401

Other Financial Items

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Net Worth	-£2,562,800	-25.9%	-£2,035,297	-24.2%	-£1,639,382	-100.7%	-£816,630	26.3%	-£1,107,401
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Working Capital	-£2,548,607	-25.8%	-£2,026,274	-26.9%	-£1,597,286	-115.9%	-£739,823	33%	-£1,104,290
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Total Assets	£1,214,029	-25.2%	£1,622,637	-26.5%	£2,208,122	-4.1%	£2,303,162	29%	£1,785,709
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Total Liabilities	£3,072,654	6.4%	£2,889,109	-4.1%	£3,014,029	35.9%	£2,217,257	14.1%	£1,943,110
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Net Assets	-£1,858,625	-46.8%	-£1,266,472	-57.1%	-£805,907	-999.9%	£85,905	154.6%	-£157,401

Cash Flow

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Capital Employed	-£1,840,360	-47.8%	-£1,244,959	-67.5%	-£743,465	-537.2%	£170,044	210.7%	-£153,651
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants
	Auditors	ENSORS
	Auditor Comments	The auditors opinions have been limited by the information provided to them
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/12/14	31/12/13	31/12/12	31/12/11	31/12/10
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Pre-tax profit margin %	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Current ratio	0.17	0.29	0.46	0.65	0.43
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Sales/Net Working Capital	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Gearing %	-1	-1.70	-7.70	97.90	-2.40
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Equity in %	-364.50	-148.30	-58.60	6.10	-18.80
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Creditor Days	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Debtor Days	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Liquidity/Acid Test	0.09	0.18	0.36	0.45	0.25
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Return On Capital Employed %	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Return On Total Assets Employed %	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Current Debt Ratio	-1.64	-2.26	-3.66	24.83	-12.32
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Total Debt Ratio	-1.65	-2.28	-3.73	25.81	-12.34
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Stock Turnover Ratio %	-	-	-	-	-
$Description: \\shraddha\Online Foreign Reports\PPM TECHNOLOGIES EMEA LTD_files\barchart-grey.png$	Return on Net Assets Employed %	-	-	-	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
01/07/2015	Annual Returns
22/04/2015	New Accounts Filed
17/12/2014	Mr J. Gvozdanovic has left the board
18/06/2014	Annual Returns
03/06/2014	New Board Member Mr R. Pedersen appointed
03/06/2014	New Board Member Mr J. Gvozdanovic appointed
02/06/2014	Mr N. Anderson has left the board
02/06/2014	Mr G. Walter has left the board
02/05/2014	New Accounts Filed
02/05/2014	New Accounts Filed
17/09/2013	New Accounts Filed
17/09/2013	New Accounts Filed
26/06/2013	Annual Returns
12/04/2013	Mr T. Howard has left the board
22/06/2012	Annual Returns

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	PPM TECHNOLOGIES LLC

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
PPM TECHNOLOGIES LLC		-	-	$35,472,000
PPM TECHNOLOGIES EMEA LTD	07271824	31.12.2014	N

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	20/07/10
Date Charge Registered:	10/08/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LV ADMINISTRATIVE SERVICES INC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND ASSOCIATED COMPANIES UNDERTHE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLED CAPITAL AND BOOK DEBTS, SEE IMAGE FOR FULL DETAILS

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Trevor Howard	3	2
Gert Walter	0	1
Neil Anderson	0	1
Jerry Gvozdanovic	0	1
Average Invoice Value		Ł1330.96
Invoices available		29
Paid		29
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	16	8	3	1	1
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.29
UK Pound	1	Rs.99.31
Euro	1	Rs.73.39

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	VNT

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.