MIRA INFORM REPORT

 

 

Report No. :

347111

Report Date :

31.10.2015

 

IDENTIFICATION DETAILS

 

Name :

R.K. PRESTRESSED PRIVATE LIMITED

 

 

Registered Office :

35-I-1 Rampur Gardencivil Lines, Bareilly – 243001, Uttar Pradesh

Mobile No.:

91-9917464450 (Mr. Mohit)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

24.06.1999

 

 

Com. Reg. No.:

20-024539

 

 

Capital Investment / Paid-up Capital :

Rs.2.927 Million

 

 

CIN No.:

[Company Identification No.]

U51109UP1999PTC024539

 

 

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 :

Manufacturing od PCC Poles.

 

 

No. of Employees :

70  (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (33)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small company established in the year 1999. It is engaged into manufacturing of PCC poles.

 

The rating considered small networth base of the company along with comfortable debt level in FY14.

 

However, the company has reported significant growth along with fair profit margin in the year under consideration, but the scale of operations is minimal.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of small scale of operations, 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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Mohit

Designation :

Marketing Manager

Contact No.:

91-9917464450

Date :

29.10.2015

 

 

LOCATIONS

 

Registered Office / Factory :

35-I-1 Rampur Gardencivil Lines, Bareilly – 243001, Uttar Pradesh, India

Tel. No.:

Not Available

Mobile No.:

91-9917464450 (Mr. Mohit)

Fax No.:

Not Available

E-Mail :

vishalarora1310@gmail.com

Location:

Owned

Locality:

Commercial

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Pranit Chaddha

Designation :

Director

Address :

35/I/1 Civil Lines, Rampur Garden, Bareilly - 243001, Uttar Pradesh, India

Date of Appointment :

01.01.2015

DIN No.:

05202978

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74120UP2009PLC037889

M. P. ELECTRONICS APPLIANCES LIMITED

Director

27/01/2012

27/01/2012

-

Active

NO

2

U32204UP2009PLC037883

S.R. CHADDHA INDUSTRIES LIMITED

Director

27/01/2012

27/01/2012

12/3/2014

Active

NO

3

U51109UP1999PTC024539

R.K. PRESTRESSED PRIVATE LIMITED

Director

1/1/2015

1/1/2015

-

Active

NO

4

U74900UP2010PTC043044

M.P ELECTRO DISTRIBUTOR PRIVATE LIMITED

Director

1/1/2015

1/1/2015

-

Active

NO

 

 

Name :

Kirti Anand

Designation :

Director

Address :

226 Civil Lines, Behind K. Bareilly Hotel, Bareilly - 243001, Uttar Pradesh, India

Date of Appointment :

01.01.2015

DIN No.:

07059424

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51109UP1999PTC024539

R.K. PRESTRESSED PRIVATE LIMITED

Director

1/1/2015

1/1/2015

-

Active

NO

2

U74900UP2010PTC043044

M.P ELECTRO DISTRIBUTOR PRIVATE LIMITED

Director

1/1/2015

1/1/2015

-

Active

NO

 

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Mohit

Designation :

Marketing Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 09.09.2014

 

Names of Shareholders

 

No. of Shares

Sukhdev Raj Chaddha

 

112500

Ravi Kant Chaddha

 

75750

Phoola Rani Chaddha

 

1800

Bharti Chaddha

 

1200

Renu Chaddha

 

1000

Ritu Chaddha

 

21390

Mohit Chaddha

 

35000

Pranit Chaddha

 

17250

Amarjeet Singh

 

12000

Allied Properties and Development

 

1000

Creative Constructions

 

1250

Fedral Associates

 

1125

Modern Construction

 

1050

Shivalik Construction

 

1000

Singh Construction

 

1125

S.K Enterprises

 

1000

Golden Era Construction

 

1000

Nataraj Developers

 

1125

Century Infrastructure

 

1050

Green Valley Developers

 

1000

Swati Enterprises

 

750

Shyam

 

750

A.B Contracts

 

750

Swati Enterprises

 

250

J.S.E.L Buildcon

 

625

Total

 

292740

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 09.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing od PCC Poles.

 

 

Products :

PCC Poles

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Kiran Enterprises
  • Khandelwal Associates, Bareilly
  • Miki Wire Works Private Limited., Ranchi
  • Neelkanth Steel and Alloys, Ghaziabad
  • Punch Line Enargy Private Limited, Lucknow
  • Ram Gopal Roshan Lal, Bareilly
  • Sanjay Electricals and Contractor, Lucknow
  • Santosh Roadways, Ranchi
  • S.S. Road Lines- Transportation
  • V. K. concrete Udyog, Ghaziabad

 

Reference :

Shree Cement

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 :

Jakson Private Limited

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 :

70 (Approximately)

 

 

Bankers :

Banker Name

Punjab National Bank

Branch Address

Civil Lines, Bareilly - 243001, Uttar Pradesh, India

Person Name (With Designation)

Not Divulged

Contact Number

91-581-2511679 (Management Non -Cooperative)

91-9557983999 (Non Cooperative)

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

 

 

From Bank

Term Loan from PNB # 43000602

(The above term loan has been taken to acquire P& M and the same is secured by way of

Mortgage of P&M. The term of Loan is 60 months divided into installment of Rs. 0.083 Million p.m.)

4.067

0.000

SHORT TERM BORROWING

 

 

Cash Credit Limit with Punjab National Bank # 878514

4.975

2.528

Cash Credit Limit with Punjab National Bank # 878523

6.934

2.074

Total

15.976

4.602

 

Auditors :

 

Name :

Bajaj and Arora

Chartered Accountants

Address :

121, Ratandeep Complex, Civil Lines, Bareilly – 243001, Uttar Pradesh, India

Tel. No.:

91-581-2456014, 2477556

E-Mail :

vishalarora123@siffy.com

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

AAAFB8728L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs. 10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

292740

Equity Shares

Rs.10/- each

Rs. 2.927 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

2.927

2.724

2.724

(b) Reserves & Surplus

19.592

17.607

17.136

(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)

22.519

20.331

19.860

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4.067

1.408

1.270

(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)

4.067

1.408

1.270

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

11.909

4.602

4.376

(b) Trade payables

7.570

3.037

2.197

(c) Other current liabilities

1.270

0.173

0.316

(d) Short-term provisions

0.460

0.297

0.408

Total Current Liabilities (4)

21.209

8.109

7.297

 

 

 

 

TOTAL

47.795

29.848

28.427

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

6.051

1.573

1.726

(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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.683

20.116

18.023

(e) Other Non-current assets

0.000

0.028

0.056

Total Non-Current Assets

6.734

21.717

19.805

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

8.787

2.283

2.942

(c) Trade receivables

12.528

5.043

4.089

(d) Cash and cash equivalents

17.877

0.014

0.011

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

1.869

0.791

1.580

Total Current Assets

41.061

8.131

8.622

 

 

 

 

TOTAL

47.795

29.848

28.427

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

28.387

11.106

11.636

 

Other Income

2.000

2.005

1.833

 

TOTAL (A)

30.387

13.111

13.469

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

19.884

8.842

9.607

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

0.754

(0.403)

(1.308)

 

Employees benefits expense

0.184

0.060

0.462

 

Other expenses

6.952

2.690

2.933

 

TOTAL (B)

27.774

11.189

11.694

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

2.613

1.922

1.775

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

1.045

0.877

0.883

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

1.568

1.045

0.892

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

0.659

0.307

0.328

 

 

 

 

 

 

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

0.909

0.738

0.564

 

 

 

 

 

Less

TAX (H)

0.280

0.266

0.165

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

0.629

0.472

0.399

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

2.31

1.73

1.55

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Term Loan from PNB # 43000602

1.000

0.000

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.22

4.25

3.43

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

9.20

17.31

15.25

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.90

2.47

1.98

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

0.04

0.03

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.75

0.30

0.28

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.94

1.00

1.18

 

 

 

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

2.724

2.724

2.927

Reserves & Surplus

17.136

17.607

19.592

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

19.860

20.331

22.519

 

 

 

 

long-term borrowings

1.270

1.408

4.067

Short term borrowings

4.376

4.602

11.909

Total borrowings

5.646

6.010

15.976

Debt/Equity ratio

0.284

0.296

0.709

 

 

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

11.636

11.106

28.387

 

 

(4.555)

155.601

 

 

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

11.636

11.106

28.387

Profit

0.399

0.472

0.629

 

3.43%

4.25%

2.22%

 

 

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

Yes

17

Details of sister concerns

No

18

Major suppliers

Yes

19

Major customers

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances from related parties

Smt. Ritu Sanihal

0.000

1.408

Total

0.000

1.408

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

80067476

11/02/2014 *

18,000,000.00

PUNJAB NATIONAL BANK

CIVIL LINES, BAREILLY, UTTAR PRADESH - 243001, IND
IA

C05145586

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible 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.65.22

UK Pound

1

Rs.99.93

Euro

1

Rs.71.67

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

33

 

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.