MIRA INFORM REPORT

 

 

Report No. :

338254

Report Date :

07.09.2015

 

IDENTIFICATION DETAILS

 

Name :

BAUMAX IMPORT & LOGISTIK GMBH

 

 

Formerly Known As :

BÜTTINGHAUS GMBH

 

 

Registered Office :

A-3403 Klosterneuburg, Aufeldstraße 17-23

 

 

Country :

Austria

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.08.1980

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

  • Other business support service activities
  • Activities of holding companies
  • Distributing Lumber, Plywood and Millwork.

 

 

No. of Employees :

173 (Exact)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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)

Austria

A2

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

AUSTRIA - ECONOMIC OVERVIEW

 

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a relatively sound industrial sector, and a small, but highly developed agricultural sector. Economic growth was anemic at less than 0.5% in 2013 and 2014, and growth in 2015 is not expected to exceed 0.5%. Austria’s 5.6% unemployment rate, while low by European standards, is at an historic high for Austria. Without extensive vocational training programs and generous early retirement, the unemployment rate would be even higher. Public finances have not stabilized even after a 2012 austerity package of expenditure cuts and new revenues. On the contrary, in 2014, the government created a “bad bank” for the troubled nationalized “Hypo Alpe Adria” bank, pushing the budget deficit up by 0.9% of GDP to 2.4% and public debt to 84.5% of the GDP. Although Austria's fiscal position compares favorably with other euro-zone countries, it faces several external risks, such as Austrian banks' continued exposure to Central and Eastern Europe, repercussions from the Hypo Alpe Adria bank collapse, political and economic uncertainties caused by the European sovereign debt crisis, the current crisis in Russia/Ukraine, the recent appreciation of the Swiss Franc, and political developments in Hungary.

 

Source : CIA

Company name and address

 

BAUMAX IMPORT & LOGISTIK GMBH

 

Aufeldstraße 17-23

A-3400 Klosterneuburg

 

Phone:

(0043) 2243 410

Fax:

(0043) 2243 22135

E-mail:

kundentelefon@baumax.at

Internet:

http://www.baumax.at

 

Status:

active company

Companies house number:

FN 52421 s

 

 

Activities

 

ÖNACE 82990 80% Other business support service activities n.e.c.

ÖNACE 64200 20% Activities of holding companies

 

 

Collections

 

Submitted for collection on

Submitted amount

Amount paid so far

Outstanding amount

Last status of debt collection

Status as of

2014-12-04

EUR

2.651,19

EUR

2.651,19

EUR

0,00

Payment of balance (outstanding)

2015-05-20

Summen

EUR

2.651,19

EUR

2.651,19

EUR

0,00

 

 

 

 

Financial data

 

Financial details can also be entered during the period, irrespective of the balance sheet date.

 

total turnover (total sales)

2014

EUR

224.500.000,00

(approx.)

total turnover (total sales)

2013

EUR

250.438.618,96

(exact)

total turnover (total sales)

2012

EUR

236.000.196,49

(exact)

total turnover (total sales)

2011

EUR

225.117.053,92

(exact)

total turnover (total sales)

2010

EUR

225.081.783,55

(exact)

 

turnover (sales) - group

2013

EUR

1.134.373.600,67

(exact)

turnover (sales) - group

2012

EUR

1.198.132.678,30

(exact)

turnover (sales) - group

2011

EUR

1.246.312.042,79

(exact)

turnover (sales) - group

2010

EUR

1.220.026.115,77

(exact)

turnover (sales) - group

2009

EUR

1.137.269.976,03

(exact)

 

total investments

2013

EUR

1.576.056,27

(exact)

 

total company vehicles

2015

 

5

(exact)

 

total employees

2015

 

173

(exact)

 

 

General company information

 

Company name

Baumax Import & Logistik GmbH

Year of incorporation

1980

Type of company

Administrative and support service activities

Legal form

limited liability company since 1980-01-08

Companies house number

FN 52421 s Korneuburg  since 1980-01-15

VAT number

ATU 28754700

number - Austrian National Bank

296759

Last balance sheet:

2013

Banking connection

UniCredit Bank Austria AG

BLZ 12000

main bank connection

Raiffeisen Bank International AG

BLZ 31000

main bank connection

Österreichische Volksbanken-Aktiengesellschaft

BLZ 18160

secondary banking connection

Erste Bank der oesterreichischen Sparkassen AG

BLZ 20111

secondary banking connection

BAWAG P.S.K. Bank für Arbeit und Wirtschaft

BLZ 60100

secondary banking connection

 

 

Locations

 

operational

A-3403 Klosterneuburg, Aufeldstraße 17-23

registered office

operational

A-3400 Klosterneuburg, Aufeldstraße 17-23

registered headquarters, rented premises

 

0043 2243 420200

0043 2243 410

kundentelefon@baumax.at

operational

A-3400 Klosterneuburg, Aufeldstraße 17-23

group headquarters

 

0043 2243 410

 

operational

A-1220 Wien, Aspernstraße 33, Warenverteilerzentrum

central warehouse

 

0043 1 28831

 

former

A-8700 Leoben, Etschmayerstraße 15

branch office

former

A-8010 Graz, Conrad von Hötzendorfstraße 103 a

registered office

former

A-8010 Graz, Conrad von Hötzendorfstraße 103 a

registered headquarters

former

A-8020 Graz, Weblingerstraße 27

branch office

former

A-8430 Leibnitz, Gralla 55

branch office

former

A-9560 Feldkirchen, Eppensteinstraße 14

branch office

former

A-9500 Villach, Emil von Heringstraße 24

branch office

 

 

Private data

 

Surname

Date of birth

Address

Executive positions

Further executive positions (as registered in the companies' house)

Dipl-Ing. Christian Gaggl

1968-02-16

A-7011 Siegendorf

Arbeitergasse 7

manager

1

Thomas Marx

1967-01-12

A-2500 Baden

Palffygasse 40

manager head of purchasing

3

Thomas Nachtweih

1962-10-14

D-16321 Schönow bei Bernau

Pestalozzistraße 83

manager

0

Marija Politsch-Pangerc

1967-02-18

SLO-1294 Visnja gora

Grintovec 10

manager

1

Dr. Gero Dittrich

1975-07-11

A-1030 Wien

Radetzkystraße 4

joint signing clerk

3

Harald Giefing

1959-11-20

A-2803 Schwarzenbach

Markt 6

joint signing clerk

0

Martin Löffler

1973-02-13

A-1210 Wien

Lebnergasse 14

joint signing clerk

0

Mag. Christoph Werner

1974-08-02

A-2380 Perchtoldsdorf

Wienergasse 114-116

head of accounting

2

Dr. Susanne Kremser

1965-07-24

A-1030 Wien

Adamsgasse 17

head of EDP

1

Mag. Michael Andreas Pichler

1969-01-18

A-1210 Wien

Lisseeweg 24

head of personnel

1

 

 

related companies

 

Company name

Address

Shareholdings in %

Since

Commercial register no.

Shares in this company are held by:

bauMax AG

A-3400 Klosterneuburg

Aufeldstraße 17-23

100 %

2012-09-20

FN 113712 z

 

Affiliated companies and further participations:

Karlheinz und Agnes Essl Privatstiftung

A-3403 Klosterneuburg

Aufeldstraße 17-23

 

 

FN 129865 d

Martin und Gerda Essl Privatstiftung

A-3403 Klosterneuburg

Aufeldstraße 17-23

 

 

FN 129867 g

BAUMAX Anteilsverwaltungs AG

A-3403 Klosterneuburg

Aufeldstraße 17-23

 

 

FN 34192 h

BAUMAX Finanzierungs GmbH

A-3403 Klosterneuburg

Aufeldstraße 17-23

 

 

FN 191603 w

Die HausProfis GmbH

A-3403 Klosterneuburg

Aufeldstraße 17-23

 

 

FN 204937 d

 

 

Balance Sheet (absolute) all amounts in EUR

 

 

2013-12-31

Franchises, patents, licences, trademarks and similar rights and advantages

7.278,00

Sum intangible assets

7.278,00

Land and leasehold rights with buildings thereon including building on land owned by third parties

263.429,00

Other operating and business equipment

1.353.322,00

Sum tangible assets

1.616.751,00

Shares on related firms

90.594,44

Sum financial assets

90.594,44

Sum fixed assets

1.714.623,44

Finished products

26.198.931,67

Advanced payments

8.781.266,07

Sum stock

34.980.197,74

Claims from delivered goods and performed services

13.843,24

Claims against related firmes Claims against companies with shareholding relationship

19.295.708,77

Other claims and assets

1.635.041,43

Sum claims

20.944.593,44

Cash on hand, cheques and bank deposits

2.361.966,01

Sum cash and bank

2.361.966,01

Sum current assets

58.286.757,19

Deferred charges

1.265,25

Sum deferred charges

1.265,25

Assets

60.002.645,88

 

Subscribed/declared capital

1.300.000,00

Legal reserves

130.000,00

Balance sheet profit/balance sheet loss

-35.263.549,93

Sum equity capital

-33.833.549,93

Reserves for severance pays

613.006,00

Other reserves

1.412.146,86

Sum reserves

2.025.152,86

Liabilities against credit institutes

3.895.139,69

Liabilities from delivered goods and performed services

22.148.443,02

Liabilities against related firms

65.210.521,45

Other liabilities

556.938,79

Sum liabilities

91.811.042,95

 

Liabilities

60.002.645,88

Balance sheet sum

60.002.645,88

 

 

P / L Account (absolute) all amounts in EUR

 

 

2013-12-31

Gross sales

250.438.618,96

Total turnover or gross profit

250.438.618,96

 

Profits from retirement of fixed assets, except financial assets

715.833,64

Other operating profits

2.127.913,34

Other operating profits totally

2.843.746,98

 

Costs for obtained services

-9.075.142,94

Material costs

-223.431.947,55

Costs for obtained services totally

-232.507.090,49

 

Wages

-3.511.258,37

Salaries

-2.995.976,84

Costs for severance pays

-131.000,38

Costs for old age pension

-17.402,04

Legal fringe benefits and other payments depending on salaries

-1.925.483,41

Other social fringe benefits

-15.547,08

Personnel expenses totally

-8.596.668,12

 

Depreciation of intangible assets, tangible assets,activated expenses for the set up and expansion of business operation

-4.316.316,48

Depreciation tangible assets / intangible assets totally

-4.316.316,48

 

Other operating costs

-33.856.969,16

Total costs

-33.856.969,16

 

Operating result totally

-25.994.678,31

 

Interest income, securties income and similar income

193.242,49

Disbursements from other financial assets and from securities of current assets (e.g. depreciations)

-238.827,91

Interest and similar disbursements

-1.205.617,69

Financial profits totally

-1.251.203,11

 

Results from usual business activity totally

-27.245.881,42

 

Taxes on income and profits

549.725,73

Taxes on income and profits totally

549.725,73

 

Annual surplus/annual deficit totally

-26.696.155,69

 

Annual profit/annual loss totally

-26.696.155,69

 

Profit and loss carried forward from previous year

-8.567.394,24

Transfer of profits totally

-8.567.394,24

 

B/S profit/ B/S loss from profit and loss account

-35.263.549,93

 

 

Key ratios

 

 

2013

Cashflow II

-22.379.839,21

Bank indebtedness

6,49

Equity capital share in %

-56,38

Social capital share

1,02

Fixed assets coverage

-1.937,48

Net profit ratio

-10,87

Capital turnover

4,17

Return on investment in %

-43,39

Cashflow in % of operating performance

-8,93

Cashflow I

-22.929.564,94

Gross productivity

29,13

Net productivity

2,08

Operating performance

250.438.618,96

Inventories in % of operating performance

13,96

Gross profit

17.931.528,47

 

 

Land Register

 

Note

 

No real estate property registered

 

 

Commercial register

 

firm (style)

20      Baumax Import & Logistik GmbH

legal form

1      Gesellschaft mit beschränkter Haftung

registered office

20      politischer Gemeinde Klosterneuburg

business adress

20      Aufeldstraße 17-23
3403 Klosterneuburg

capital

28      EUR 1.300.000

reference date annual accounts

7      31. Dezember

annual accounts

68      zum 31.12.2013 eingereicht am 25.09.2014

power of representation

1      Die Generalversammlung bestimmt, wenn mehrere Geschäfts-
führer bestellt sind, deren Vertretungsbefugnis.
1   Gesellschaftsvertrag  vom 08.01.1980                                001
4   Verschmelzungsvertrag  vom 23.09.1993                               006
4   Generalversammlungsbeschluss  vom 23.09.1993                        007
Diese Gesellschaft wurde als
übernehmende Gesellschaft mit der
Josef Baumgartner Gesellschaft m.b.H.,
St. Pölten (HRB 540 HG St. Pölten)
als übertragender Gesellschaft verschmolzen.
Sitz der übertragenden Gesellschaft in St. Pölten.
6   Übernahme des Vermögens der                                         008
Büttinghaus
Inhaber Fridold Höller & Söhne
(FN 11104 f)
gemäß § 142 HGB.
7   Generalversammlungsbeschluss  vom 20.12.1993                        009
Neufassung des Gesellschaftsvertrages.
10   Verschmelzungsvertrag  vom 21.09.1994                               010
10   Generalversammlungsbeschluss  vom 21.09.1994                        011
Diese Gesellschaft wurde als
übernehmende Gesellschaft mit der
Heimwerkermarkt Gesellschaft m.b.H.
(FN 91784 b)
als übertragender Gesellschaft verschmolzen.
Sitz der übertragenden Gesellschaft in Tulln.
16   Einbringungsvertrag  vom 13.09.1995                                 012
Einbringung des Teilbetriebes "Baustoff- und Fliesenhandel
sowie Bau- und Heimwerkermärkte" in die
Baumax Aktiengesellschaft (FN 70653 b).
19   Verschmelzungsvertrag  vom 28.09.1998                               013
19   Generalversammlungsbeschluss  vom 28.09.1998  der                   014
DIY Logistik GmbH
(FN 129354 b)
als übertragender Gesellschaft. Verschmelzung mit dieser
Gesellschaft als übernehmender Gesellschaft.
Sitz der übertragenden Gesellschaft in Klosterneuburg.
20   Generalversammlungsbeschluss  vom 25.01.1999                        015
Neufassung des Gesellschaftsvertrages.
28   Gesellschaftsvertrag mit Generalversammlungsbeschluss               016
vom 11.02.2002
gemäß 1. Euro-JuBeG angepasst.
28   Generalversammlungsbeschluss  vom 11.02.2002                        017
Kapitalerhöhung um EUR 994.701,42 auf EUR 1.300.000,-.
Änderung des Gesellschaftsvertrages in den §§ 4 und 7.

 

proxy

AD   Harald Giefing, geb. 20.11.1959
41        vertritt seit 01.01.2008 gemeinsam mit
einem Geschäftsführer oder weiteren Gesamtprokuristen
AO   Martin Löffler, geb. 13.02.1973
61        vertritt seit 01.01.2013 gemeinsam mit
einem Geschäftsführer oder einem weiteren Gesamtprokuristen
AS   Dr. Gero Volker Dittrich, geb. 11.07.1975
69        vertritt seit 01.03.2015 gemeinsam mit
einem Geschäftsführer oder einem weiteren Gesamtprokuristen

 

managing director

Z   Thomas Marx, geb. 12.01.1967
60        vertritt seit 01.01.2013 gemeinsam mit
einem weiteren Geschäftsführer oder einem Gesamtprokuristen
AP   Marija Politsch Pangerc, geb. 18.02.1967
64        vertritt seit 30.07.2013 gemeinsam mit
einem weiteren Geschäftsführer oder einem
Gesamtprokuristen
AQ   Dipl.-Ing. Christian Gaggl, geb. 16.02.1968
64        vertritt seit 30.07.2013 gemeinsam mit
einem weiteren Geschäftsführer oder einem
Gesamtprokuristen
AR   Thomas Nachtweih, geb. 14.10.1962
67        vertritt seit 28.03.2014 gemeinsam mit
einem/einer weiteren Geschäftsführer/in oder
einer/einem Gesamtprokuristen

 

shareholder

AN   bauMax AG
57        ....................  EUR 1.300.000
57        ...............................................  EUR 1.300.000
-------------------------------------------------------
Summen:           EUR 1.300.000              EUR 1.300.000

 

general table

Landesgericht für ZRS Graz
1 datenersterfasst am 30.09.1993             Geschäftsfall 910 Fr   519/93 b
Ersterfassung gem. Art. XXIII Abs. 4 FBG
4 eingetragen am 16.10.1993                  Geschäftsfall  27 Fr  1963/93 h
Antrag auf Änderung  eingelangt am 24.09.1993
6 eingetragen am 04.12.1993                  Geschäftsfall  27 Fr  3126/93 v
Antrag auf Änderung  eingelangt am 24.11.1993
7 eingetragen am 03.02.1994                  Geschäftsfall  27 Fr   535/94 t
Antrag auf Änderung  eingelangt am 25.01.1994
10 eingetragen am 30.11.1994                  Geschäftsfall  27 Fr  4752/94 v
Antrag auf Änderung  eingelangt am 22.09.1994
eingetragen am 30.11.1994                  Geschäftsfall  27 Fr  4753/94 w
Antrag auf Änderung  eingelangt am 22.09.1994
16 eingetragen am 07.10.1995                  Geschäftsfall  27 Fr  6118/95 k
Antrag auf Änderung  eingelangt am 25.09.1995
19 eingetragen am 30.12.1998                  Geschäftsfall  27 Fr  8276/98 k
Antrag auf Änderung  eingelangt am 30.09.1998
Landesgericht Korneuburg
20 eingetragen am 31.03.1999                  Geschäftsfall  28 Fr  1093/99 m
Antrag auf Sitzverlegung  eingelangt am 19.02.1999
28 eingetragen am 26.03.2002                  Geschäftsfall  28 Fr  1160/02 f
Antrag auf Änderung  eingelangt am 01.03.2002
31 eingetragen am 26.03.2003                  Geschäftsfall  28 Fr  1182/03 x
Antrag auf Änderung  eingelangt am 25.03.2003
41 eingetragen am 13.03.2008                  Geschäftsfall  28 Fr  1261/08 g
Antrag auf Änderung  eingelangt am 07.03.2008
57 eingetragen am 20.09.2012                  Geschäftsfall  28 Fr  3895/12 s
Antrag auf Änderung  eingelangt am 12.09.2012
60 eingetragen am 03.01.2013                  Geschäftsfall  28 Fr  6768/12 s
Antrag auf Änderung  eingelangt am 28.12.2012
61 eingetragen am 21.02.2013                  Geschäftsfall  28 Fr   532/13 d
Antrag auf Änderung  eingelangt am 19.02.2013
64 eingetragen am 23.08.2013                  Geschäftsfall  28 Fr  2846/13 g
Antrag auf Änderung  eingelangt am 21.08.2013
67 eingetragen am 15.04.2014                  Geschäftsfall  28 Fr  1034/14 a
Antrag auf Änderung  eingelangt am 14.04.2014
68 eingetragen am 26.09.2014                  Geschäftsfall  28 Fr  3349/14 f
Elektronische Einreichung Jahresabschluss  eingelangt am 25.09.2014
69 eingetragen am 09.04.2015                  Geschäftsfall  28 Fr   667/15 w
Antrag auf Änderung  eingelangt am 18.03.2015

 

 

Historical development

 

Year of incorporation

1980

Date of registration

1980-01-15

 

Change of company name

 

from

to

company name

 

1999-04-01

Büttinghaus GmbH

1999-04-01

 

Baumax Import & Logistik GmbH

 


Change in share capital

 

from

to

asset

 

 

2002-03-26

ATS

4.201.000,00

2002-03-26

 

EUR

1.300.000,00

 

Former executives

 

from

to

position

name

2010-11-26

2013-02-21

manager

Dr. Alexander Frech

2000-10-11

2013-02-21

manager

Ing.Mag. Werner Neuwirth Riedl

2008-12-05

2014-03-11

manager

Dr. Alexander Wiegele

2012-09-20

2015-06-25

manager

Dipl-Ing. Heinrich Kugler

1999-03-31

2002-10-17

individual signing clerk

Agnes Essl

 

1997-03-06

joint signing clerk

Gerhard Merdonik

2003-03-26

2007-03-21

joint signing clerk

Thomas Marx

2009-03-24

2011-05-17

joint signing clerk

Ing. Robert Modliba

 

2013-02-21

joint signing clerk

Christian Schwarz

 

2013-04-19

joint signing clerk

Mag. Alexander Casapiccola

1999-03-31

2013-07-10

joint signing clerk

Elmar Weinert

2001-03-03

2013-08-23

joint signing clerk

Hans Marschall

 

1999-03-31

manager

Prof. Karlheinz Essl

 

2001-06-07

manager

Ewald Repnik

1999-03-31

2004-04-06

manager

Dipl-Ing. Walter Hitzinger

1999-03-31

2009-01-13

manager

Ing. Josef Friedlmayer

2008-02-08

2010-01-27

manager

Claus Mitterböck

2005-05-24

2012-03-07

manager

Alois Penninger

2011-01-05

2012-09-27

manager

Mag. Clemens Bauer

2011-01-05

2012-09-27

manager

Jörg Bierlein

2000-10-11

2013-01-03

manager

Hans Jörg Greimel

2011-01-05

2013-01-03

manager

Werner Moser

2008-02-08

2013-01-03

manager

Josef Wagner

1995-09-30

2013-02-21

manager

Martin Essl

 

Former shareholders

 

from

to

position

name

1995-10-03

2012-09-20

partner

bauMax AG

 

Former shareholdings

 

from

to

company name

1998-10-21

1998-12-30

DIY Logistik GmbH

 

Mergers

 

On

position

name

2000-05-16

merged with

Büttinghaus Inhaber Fridold Höller & Söhne

2000-05-16

merged with

DIY Logistik GmbH

2000-05-16

merged with

Heimwerkermarkt Gesellschaft m.b.H.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.40

UK Pound

1

Rs.101.19

Euro

1

Rs.73.89

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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

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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.