MIRA INFORM REPORT

 

 

Report No. :

340772

Report Date :

14.09.2015

 

IDENTIFICATION DETAILS

 

Name :

CHINTAN GEMS BVBA

 

 

Registered Office :

Hoveniersstraat 30-Bus 196, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

30.06.2013

 

 

Com. Reg. No.:

478554943

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of Diamonds and Other Precious Stones.

 

 

No of Employees :

1

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BELGIUM ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank.

 

Source : CIA

 


Company summary

 

Business number                                 478554943

Branche Unit Number                           2114607225

Company name                                    CHINTAN GEMS BVBA

Address                                               HOVENIERSSTRAAT 30-BUS 196

2018 ANTWERPEN

Number of staff                                    1

Date of establishment                           09/10/2002

Telephone number                               0488685054

Fax number                                          032312331

 

 

Commentary

 

The business was established over 12 years ago.

The business has 1 employees.

The business has been at the address for over 2 years.

Operating Result in the latest trading period increased 22% on the previous trading period.

Net Worth increased by 23% during the latest trading period.

A 33% growth in Total Assets occurred during the latest trading period.

The business saw an increase in their Cash Balance of 443% during the latest trading period.

 

 

Accounts

 

DATE  OF 

LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

30/06/2013

102,321,759

268,206

6,090,515

7,810,570

30/06/2012

88,196,148

233,917

4,941,058

6,890,549

30/06/2011

66,852,454

168,950

3,797,503

3,677,436

 

Accounts

 

DATE  OF 

LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

30/06/2013

37,549,065

1

5,320,000

264,883

30/06/2012

28,057,439

1

4,369,405

264,210

30/06/2011

19,139,528

0

3,459,500

153,091

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

48.23

Industry  average  payment

126.75

Industry  average  day  sales

186.10

expectation  days

 

outstanding

 

Day  sales  outstanding

114.05

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                                  no

 

PROTESTED BILLS

Bill amount                                          -

 

NSSO DETAILS

Date of summons                                

 

 

Company information

 

Business  number

478554943

Company  name

CHINTAN  GEMS  BVBA

Fax  number

032312331

Date  founded

09/10/2002

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

30/06/2013

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0478.554.943  Check  VAT number

 

 

 

 

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Contractor details

Registered contractor number                          -

Contractor description                                                 -

Date struck off register

 

Personnel (NSSO classification)

Code                                                                            -

Description                                                                  FROM 1 TO 4 EMPLOYEES

 

Joint Industrial Committee (JIC)

 

Significant Events

Event Date                                22/01/2010

Event Description                     resignation-appointment of director(s)

Event Details                            Commentaar 22-01-2010: Benoeming van Chintankumar Goti als zaakvoerrder onder opschortende voorwaarde tot het bekomen van de beroepskaart.

 

Event Date                                22/01/2010

Event Description                     resignation-appointment of director(s)

Event Details                            Commentaar 22-01-2010: Benoeming van Chintankumar Goti als zaakvoerrder onder opschortende voorwaarde tot het bekomen van de beroepskaart.

 

Event Date                                12/05/2011

Event Description

Event Details                            Rechtzetting betreffende bekendmaking akte kapitaalverhoging dd 12/05/11.

 

Event Date                                12/05/2011

Event Description

Event Details                            Rechtzetting betreffende bekendmaking akte kapitaalverhoging dd 12/05/11.

 

 

Company accounts

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual  accounts

30-06-2013

%

30-06-2012

%

30-06-2011

%

30-06-2010

%

30-06-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

 

 

 

 

 

 

 

 

 

 

Total  fixed  assets

938,405

5.56

888,977

251

253,118

-19.25

313,460

16.96

268,004

 

 

 

 

 

 

 

 

 

 

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Tangible  fixed  assets

936,312

5.58

886,790

253

251,214

-19.28

311,217

17.11

265,754

Land  &  building

888,745

5.33

843,795

305

208,137

-17.43

252,079

-3.35

260,826

Plant  &  machinery

8,279

151

3,298

-6.84

3,540

200

1,178

-42.48

2,048

Furniture  &  Vehicles

39,288

-1.03

39,697

0.41

39,536

-31.79

57,960

1912

2,880

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-100

1

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Financial  fixed  assets

2,092

-4.34

2,187

14.80

1,905

-15.07

2,243

-0.31

2,250

 

 

 

 

 

 

 

 

 

 

Total  current  assets

36,610,660

34.75

27,168,462

43.85

18,886,410

76.24

10,716,155

81.67

5,898,848

Inventories

4,192,642

46.84

2,855,288

-10.25

3,181,394

193

1,084,615

-7.10

1,167,448

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

4,192,642

46.84

2,855,288

-10.25

3,181,394

193

1,084,615

-7.10

1,167,448

Other  stocks

0

-

0

-

0

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Trade  debtors

31,970,968

32.20

24,183,411

54.99

15,603,298

62.61

9,595,666

103

4,717,237

Other  amounts  receivable

5,591

-88.49

48,593

1903

2,426

41.71

1,712

-24.91

2,280

 

 

 

 

 

 

 

 

 

 

Cash

441,459

443

81,170

-18.25

99,292

190

34,162

187

11,883

 

 

 

 

 

 

 

 

 

 

Miscellaneous  current  assets

0

-

0

-

0

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Total  Assets

37,549,065

33.83

28,057,439

46.59

19,139,528

73.53

11,029,615

78.85

6,166,852

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

6,090,515

23.26

4,941,058

30.11

3,797,503

260

1,054,731

6.35

991,768

 

 

 

 

 

 

 

 

 

 

Issued  share  capital

5,320,000

21.76

4,369,405

26.30

3,459,500

324

814,900

3974

20,000

 

 

 

 

 

 

 

 

 

 

Share  premium  account

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Revaluation  reserve

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Reserves

770,515

34.79

571,653

69.13

338,003

40.93

239,831

-75.32

971,768

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Deffered  taxes

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Creditors

31,458,549

36.09

23,116,381

50.67

15,342,025

53.81

9,974,884

92.75

5,175,084

 

 

 

 

 

 

 

 

 

 

Other  long  term  loans

2,658,459

-6.34

2,838,468

2033

133,051

-27.94

184,636

1.22

182,418

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

1

-

0

-

0

-

0

-

0

Total  long  term  debts

2,658,460

-6.34

2,838,468

2033

133,051

-27.94

184,636

1.22

182,418

 

 

 

 

 

 

 

 

 

 

Current  portion  of  long  term  debt

44,714

43.47

31,167

121

14,063

3.16

13,632

-14.03

15,856

Financial  debts

15,212,644

29.39

11,757,234

210

3,783,923

54.41

2,450,585

103

1,201,743

Trade  creditors

13,373,546

61.37

8,287,690

-20.42

10,413,954

105

5,067,472

144

2,072,100

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

40,408

-44.00

72,153

42.32

50,698

198

17,011

467

3,000

 

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

128,778

-0.69

129,669

-86.30

946,336

-57.78

2,241,548

31.86

1,699,967

Total  current  liabilities

28,800,090

42.03

20,277,913

33.33

15,208,974

55.35

9,790,248

96.09

4,992,666

 

 

 

 

 

 

 

 

 

 

Total  Liabilities

37,549,065

33.83

28,057,439

46.59

19,139,528

73.53

11,029,615

78.85

6,166,852

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

Profit  Before  Tax

0.26

-3.70

0.27

8.00

0.25

66.67

0.15

-46.43

0.28

 

 

 

 

 

 

 

 

 

 

Return  on  capital  employed

3.07

1.99

3.01

-30.0

4.30

-40.61

7.24

41.68

5.11

 

 

 

 

 

 

 

 

 

 

Return  on  total  assets  employed

0.71

-14.46

0.83

-5.68

0.88

8.64

0.81

-16.49

0.97

 

 

 

 

 

 

 

 

 

 

Return  on  net  assets  employed

4.40

-6.98

4.73

6.29

4.45

-47.71

8.51

40.66

6.05

 

 

 

 

 

 

 

 

 

 

Sales  /  net  working  capital

13.10

2.34

12.80

-29.59

18.18

-72.53

66.18

174

24.08

 

 

 

 

 

 

 

 

 

 

Stock  turnover  ratio

4.10

26.54

3.24

-31.93

4.76

168

1.77

-66.92

5.35

 

 

 

 

 

 

 

 

 

 

Creditor  days

48.23

39.19

34.65

-39.49

57.26

88.79

30.33

-13.17

34.93

Debtor  days

114.05

13.96

100.08

17.48

85.19

49.04

57.16

-27.56

78.91

 

 

 

 

 

 

 

 

 

 

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Current  ratio

1.27

-5.22

1.34

8.06

1.24

13.76

1.09

-7.63

1.18

 

 

 

 

 

 

 

 

 

 

Liquidity  ratio  /  acid  ratio

1.13

-5.83

1.20

16.50

1.03

5.10

0.98

3.16

0.95

 

 

 

 

 

 

 

 

 

 

Current  debt  ratio

4.73

15.37

4.10

2.50

4.00

-56.90

9.28

84.49

5.03

 

 

 

 

 

 

 

 

 

 

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Cashflow

264,883

0.25

264,210

72.58

153,091

90.80

80,236

45.09

55,302

 

 

 

 

 

 

 

 

 

 

Net  worth

6,090,515

23.26

4,941,058

30.11

3,797,503

260

1,054,731

6.35

991,768

 

 

 

 

 

 

 

 

 

 

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Gearing

294.16

-0.63

296.03

185

103.52

-58.78

251.14

77.91

141.16

 

 

 

 

 

 

 

 

 

 

Equity  in  percentage

16.22

-7.89

17.61

-11.24

19.84

107

9.56

-40.55

16.08

 

 

 

 

 

 

 

 

 

 

Total  debt  ratio

5.17

10.47

4.68

15.84

4.04

-57.29

9.46

81.23

5.22

 

 

 

 

 

 

 

 

 

 

Working  capital

7,810,570

13.35

6,890,549

87.37

3,677,436

297

925,907

2.18

906,182

 

 

Profit  &  loss

Operating  Income

102,321,952

16.02

88,196,174

31.93

66,852,454

9.10

61,275,787

180

21,819,483

Turnover

102,321,759

16.02

88,196,148

31.93

66,852,454

9.10

61,275,787

180

21,819,483

Total  operating  expenses

101,218,858

15.95

87,297,852

31.51

66,383,594

8.84

60,989,269

181

21,655,373

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Operating  Charges

101,219,052

15.95

87,297,877

31.51

66,383,593

8.84

60,989,269

181

21,655,373

Employee  costs

26,076

785

2,945

-

-

-

-

-

-

Wages  and  salary

25,313

889

2,558

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

593

114

276

-

-

-

-

-

-

Other  employee  costs

169

52.25

111

-

0

-

0

-

0

Director  remuneration

51,940

-45.99

96,175

24.60

77,188

43.85

53,660

39.02

38,600

Amortization  and  depreciation

41,336

-48.70

80,583

330

18,714

31.36

14,246

38.89

10,257

 

 

 

 

 

 

 

 

 

 

Operating  result

1,102,901

22.78

898,296

91.59

468,860

63.64

286,518

74.59

164,110

Total  financial  income

2,839

12804

22

-99

5,925

13679

43

-6.52

46

 

 

 

 

 

 

 

 

 

 

Total  financial  expenses

837,534

26.06

664,401

117

305,836

55.40

196,804

89.03

104,111

 

 

 

 

 

 

 

 

 

 

Results  on  ordinary  operations before  taxation

268,206

14.66

233,917

38.45

168,950

88.23

89,757

49.48

60,045

 

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Extraordinary  items

0

-

0

-

0

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Results  for  the  Year  Before Taxation

268,206

14.66

233,917

38.45

168,950

88.23

89,757

49.48

60,045

 

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Taxation

44,658

-11.20

50,290

45.46

34,572

45.46

23,767

58.45

15,000

Results  on  ordinary  operations after  taxation

223,548

21.74

183,627

36.65

134,378

103

65,990

46.50

45,045

 

 

 

 

 

 

 

 

 

 

Net  result

223,547

21.74

183,627

36.65

134,377

103

65,990

46.50

45,045

 

 

 

 

 

 

 

 

 

 

Profit  (Loss)  for  the  Year  to  be appropriated

223,547

21.74

183,627

36.65

134,377

103

65,990

46.50

45,045

 

 

 

 

 

 

 

 

 

 

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social Balance Sheet Details

 

Social Balance Sheet                                                               Total

During the reporting year ended 30-06-2013

Full-time Employees                                                                1

Part-time Employees                                                                -

Total Fte Employees                                                                1

 

Number of hours worked

Full-time Employees                                                                1,763

Part-time Employees                                                                -

Total                                                                                        1,763

 

Personnel Charges

Full-time Employees                                                                26,076

Part-time Employees                                                                -

Total                                                                                        26,076

Benefits In Addition To Wages                                                 -

 

During the previous reporting year

Average number employees in Fte                                           1

Actual working hours                                                               251

Personnel Charges                                                                   2,818

Benefits In Addition To Wages                                                

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

1

-

1

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

 

 

Gender and Education Level

 

Men

Full-Time

Part-Time

Total  Fte

Primary education

-

-

-

Secondairy education

-

-

-

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary education

-

-

-

Secondairy education

1

-

1

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

-

1

Blue  collar  worker

-

-

-

Other

-

-

-

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

-

 

Actual  working  hours

 

-

 

Cost  of  temporary  staff

 

-

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

-

-

-

Leavers

-

-

-

 

 

Total  of  formal  continuing  vocational  training  initiatives for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

Industry comparison

 

Activity code                                                                46761

Activity description                                                      Wholesale of diamonds and other precious stones

 

 

Payment Information

 

Suspension of payments / moratorium history

 

Amount                                                                         -

Details                                                                          -

 

Payment expectations

Payment expectation days                                            48.23

Day sales outstanding                                      114.05

 

Industry comparison

Activity code                                                                46761

Activity description                                                      Wholesale of diamonds and other precious stones

Industry average payment expectation days                 126.75

Industry average day sales outstanding                       186.10

 

Industry quartile analysis

Payment expectations

Company result                                                            48.23

Lower                                                                           120.34

Median                                                                         74.93

Upper                                                                           46.53

 

Day sales outstanding

Company result                                                            114.05

Lower                                                                           102.27

Median                                                                         53.69

Upper                                                                           24.18

 

Shareholder Details

 

Summary

 

Group - Number of Companies                                     0

Linkages - Number of Companies                                0

Number of Countries                                                    0

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

 

Individual Shareholders

 

SHAREHOLDER  NAME

 

Forename

Jignesh

Middle  name

Vitthal

Surname

Patel

 

 

 

 

 

 

SHAREHOLDER  DETAILS

 

 

 

 

Start  date

27/05/2011(estimated)

End  date

-

Percentage  owned

-

 

 

 

 

 

 

SHAREHOLDER  ADDRESS

 

 

 

 

Street  name

Quinten  Matsijslei

House  number

38

Minor  town

-

Postal  town

Antwerpen

Post  code

2018

Country

Belgium

 

 

Linked Companies

 

Summary

Group - Number of Companies                         0

Linkages - Number of Companies                    0

Number of Countries                                        0

 

 

Summons

There is no data for this company

 

Protested Bills

There is no data for this company

 

Bankruptcy and other legal events

There is no data for this company

 

 

Director details

 

Current director details

 

Name

CHETAN  GORDHANBHAI  GOTI

Position

Principal  Manager

Start  Date

16/07/2013

Street

38 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Name

JIGNESH  KUMAR  VITTHAL  PATEL

Position

Principal  Manager

Start  Date

04/04/2005

Street

38 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Position

Non  Statutory  Partner

Start  Date

09/10/2002

Street

38 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.39

UK Pound

1

Rs.102.59

Euro

1

Rs.74.90

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               

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.