MIRA INFORM REPORT

 

 

Report No. :

347183

Report Date :

29.10.2015

 

IDENTIFICATION DETAILS

 

Name :

STRATEGIC DEVELOPERS PRIVATE LIMITED (w.e.f. 06.04.2011)

 

 

Formerly Known As :

RADHEYKRISHNA PROPBUILD PRIVATE LIMITED

 

 

Registered Office :

6, MCD Building, Shakti Nagar Chowk, New Delhi - 110007

Tel. No.:

91-120-4200080

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.03.2011

 

 

Com. Reg. No.:

55-215415

 

 

Capital Investment / Paid-up Capital :

Rs.0.210 Million

 

 

CIN No.:

[Company Identification No.]

U45200DL2011PTC215415

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of Real Estate Promotion, Developers and Project Management.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 13000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2011, having moderate track record.

 

For the FY 2014, the company has decent sales turnover marked by adequate profitability margin. It has been successful in wiping off its previous accumulated loss.

 

However, the company possesses modest net worth base marked by heavy debt level, decline in its cash accruals and there is unfavourable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payments are slow but correct.

 

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

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI 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 DECLINED BY

 

Name :

Mr. Anup Mishra

Designation :

Accountant

Contact No.:

91-120-4200080

Date :

27.10.2015

 

 

LOCATIONS

 

Registered Office :

6, MCD Building, Shakti Nagar Chowk, New Delhi - 110007

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

finance@strategicgroup.in

 

 

Corporate Office :

B-127, First Floor, Sector - 63, Noida – 201301, Uttar Pradesh, India

Tel. No.:

91-120-4200080

 

 

DIRECTORS

 

AS ON 26.09.2014

 

Name :

Mr. Neeraj Rathor

Designation :

Director

Address :

B-4A, Rajat Vihar, Sector-62, Noida - 201307, Uttar Pradesh, India

Date of Birth/Age :

04.07.1978

Date of Appointment :

16.05.2011

DIN No.:

01108653

 

 

Name :

Mr. Manish Gupta

Designation :

Director

Address :

A-304 Krishna Apra Residency, Plot No-E-8, Sec-61, Noida - 201301, Uttar Pradesh, India

Date of Birth/Age :

05.09.1974

Date of Appointment :

26.03.2011

DIN No.:

01830472

 

KEY EXECUTIVES

 

Name :

Mr. Anup Mishra

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 26.09.2014

 

Names of Shareholders

 

No. of Shares

Manish Gupta

 

897709

Neeraj Rathor

 

1010000

Anju Bala

 

758800

Deepti Singhal

 

20

Harvinder Kaur

 

10

Maya Gupta

 

620140

Mohan Soni

 

100

Neha Rathor

 

100

Prem Chand Gupta

 

850210

Ramesh Chand Aggarwal

 

100

Sapna Gupta

 

820355

Bhura Mal

 

10

Murti Devi

 

10

Rajiv Kumar

 

10

Siddarth Singla

 

296840

Sushma Rani

 

10

Vidya Devi

 

1080010

Vikas Kumar Singla HUF

 

805830

Vikas Singla

 

780410

Vinay Pal Singla

 

10

Vishwajeet Kumar

 

10

Neeraj Rathor HUF

 

5

Gopal Krishan Jindal

 

5

Prem Chand Gupta HUF

 

158500

Manish Gupta HUF

 

154500

Maharaja Buildcon Private Limited, India

 

2400000

Premaya Estates Private Limited, India

 

2866276

Bimla Devi

 

5

Madan Lal Raj Kumar

 

5

Swaran Lata Jindal

 

10

Total

 

13500000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 26.09.2014

 

Category

Percentage

Bodies corporate

39.01

Directors or relatives of Directors

58.68

Other top fifty shareholders

2.31

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of Real Estate Promotion, Developers and Project Management.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

ICICI Bank Limited

Branch Address

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Toyota Financial Services – Fortuner

0.961

1.282

Toyota Financial Services – Innova

0.586

0.769

HDFC Bank Limited- Audi Q7

4.067

0.000

ICICI Bank- Equipment Loan

4.528

0.000

SHORT TERM BORROWING

 

 

Loan from Toyota Financial Services-Fortuner

0.313

0.305

Loan from Toyota Financial Services-Innova

0.175

0.169

Loan from ICICI Bank Limited - Construction Equipments

3.982

0.000

Loan from HDFC Bank Limited - Audi Q7

0.952

0.000

Total

15.564

2.525

 

Note:

 

Term loans from banks and financial statement are repayable in EMI and are secured by respective assets.

 

Auditors :

 

Name :

Lochan and Company

Chartered Accountants

Address :

415, Krishna Apra Plaza, Sector-18, Noida – 201301, Uttar Pradesh, India

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

AACFL4183D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises where common control exists:
  • Premaya Developers Private Limited
  • Premaya Estates Private Limited
  • Cosmic Technosoft Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 26.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000000

Equity Shares

Rs.10/- each

Rs. 150.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

13500000

Equity Shares

Rs.10/- each

Rs. 135.000 Million

 

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs. 1.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

21000

Equity Shares

Rs.10/- each

Rs. 0.210 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

4.319

(3.419)

(3.401)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

4.529

(3.209)

(3.191)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

327.075

157.497

162.461

(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)

327.075

157.497

162.461

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

5.422

0.473

0.000

(b) Trade payables

7.852

0.646

0.217

(c) Other current liabilities

73.002

127.172

0.138

(d) Short-term provisions

1.946

0.000

0.000

Total Current Liabilities (4)

88.222

128.291

0.355

 

 

 

 

TOTAL

419.826

282.579

159.625

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

30.094

6.711

3.944

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.180

0.119

0.011

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

1.076

0.050

0.000

Total Non-Current Assets

31.350

6.880

3.955

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

335.783

199.577

147.190

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and cash equivalents

2.603

62.081

3.736

(e) Short-term loans and advances

48.811

10.960

4.712

(f) Other current assets

1.279

3.081

0.032

Total Current Assets

388.476

275.699

155.670

 

 

 

 

TOTAL

419.826

282.579

159.625

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

193.143

0.030

0.859

 

Other Income

 

 

 

 

TOTAL

193.143

0.030

0.859

 

 

 

 

 

Less

EXPENSES

183.473

0.142

4.271

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

9.670

(0.112)

(3.412)

 

 

 

 

 

Less

TAX

1.910

(0.108)

(0.011)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

7.760

(0.004)

(3.401)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

369.52

NA

NA

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

(215.303)

66.195

NA

Net cash used in operating activities

(190.763)

67.454

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

2.30

(0.04)

(2.14)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

2.14

0.03

1.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

73.42

(49.23)

(50.91)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.40

2.15

438.51

 

 

 

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

0.210

0.210

0.210

Reserves & Surplus

(3.401)

(3.419)

4.319

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

(3.191)

(3.209)

4.529

 

 

 

 

long-term borrowings

162.461

157.497

327.075

Short term borrowings

0.000

0.473

5.422

Total borrowings

162.461

157.970

332.497

Debt/Equity ratio

(50.912)

(49.227)

73.415

 

 

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)

Total Income

0.859

0.030

193.143

 

 

(96.508)

643,710.000

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

0.859

0.030

193.143

Profit

(3.401)

(0.004)

7.760

 

(395.93%)

(13.33%)

4.02%

 

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)

No

16

No. of employees

No

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

--

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

No

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from A-48, LGF, Dayanand Colony, Lajpat Nagar-IV, New Delhi -110024, India to the present address w.e.f. 16.05.2011

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Greater Noida Industrial Development Authority

133.373

125.496

Loans and advances from related parties

 

 

Manish Gupta

3.859

4.158

Neeraj Rathor

10.118

0.118

Neeraj Rathor (HUF)

0.100

0.000

Maya Gupta

0.013

0.012

Neha Rathor

1.200

1.200

P.C. Gupta

3.665

3.665

Sapna Gupta

2.963

2.962

Premaya Developers Private Limited

4.711

2.061

Premaya Estates Private Limited

115.110

0.470

Other loans and advances

 

 

Anju Bala

2.587

2.403

Anju Bala w/o Rajiv Kumar

0.465

0.000

Harvinder Kaur

2.500

2.500

Bhurama

0.663

0.000

Mohan Soni

0.550

0.550

R.C. Aggarwal

2.815

2.815

Sidharth Singla

0.805

0.000

Sushma Rani

0.571

0.000

Vidya Devi

5.800

1.050

Vikas Kumar Singla HUF

2.171

1.465

Vikas Singla

2.804

2.520

Vishwajeet Kumar

3.000

2.000

Gopal Krishan Jindal

4.000

0.000

Murti Devi

0.490

0.000

Rajiv Kumar

1.866

0.000

Vinay Pal Singla

0.734

0.000

D Three Builders & Developers Private Limited

10.000

0.000

Total

316.933

155.445

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10513184

09/07/2014

400,000,000.00

LIC HOUSING FINANCE LTD

BOMBAY LIFE BLDG., 2ND FLOOR,, 45/47, VEER NARIMA
N ROAD,, MUMBAI- 400 001., MAHARASHTRA - 400001, I
NDIA

C15214844

2

10422538

15/04/2013

11,782,629.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ
ARAT - 390015, INDIA

B73973679

 

 

FIXED ASSETS

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.65.04

UK Pound

1

Rs.99.58

Euro

1

Rs.71.75

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

AMR

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

2

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

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

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NB

                                       New Business

 

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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.