MIRA INFORM REPORT

 

 

Report No. :

341334

Report Date :

16.09.2015

 

IDENTIFICATION DETAILS

 

Name :

ZAVENIR DAUBERT INDIA PRIVATE LIMITED

 

 

Registered Office :

Regus Rectangle, Level – 4, Rectangle - 1, D – 4, Saket District Centre, New Delhi – 110017

Tel No.:

91-11-66544255

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.06.1995

 

 

Com. Reg. No.:

55-069625

 

 

Capital Investment / Paid-up Capital :

Rs. 15.925 Million

 

 

CIN No.:

[Company Identification No.]

U74899DL1995PTC069625

 

 

IEC No.:

0595027768

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELZ00260B

 

 

PAN No.:

[Permanent Account No.]

AAACZ1419R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter, Importer and Supplier of VCI Papers, VCI Films, VCI Liquids, VCI Emitters.

 

 

No. of Employees :

80 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 230000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1995 and it is an established company having satisfactory track record.

 

Company possesses satisfactory operational performance and it has maintained above average profit margins at 1.79%.

 

Rating also takes into consideration company’s sound financial risk profile marked by favourable gap between trade payables to its receivables and average debt protection metrics of the company.

 

Trade relations are reported as fair. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

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

 

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. Pravin Kumar

Designation :

Accountant

Contact No.:

91-124-4981000

Date :

15.09.2015

 

 

LOCATIONS

 

Registered Office :

Regus Rectangle, Level – 4, Rectangle - 1, D – 4, Saket District Centre, New Delhi – 110017, India

Tel. No.:

91-11-66544255

Fax No.:

91-11-66544052

E-Mail :

Info_infotech@yahoo.co.in

sbhartia@zavenir.com 

pkumar@zavenir.com

Website :

www.zavenir.com

 

 

Corporate Office / Factory  :

57th K.M. Stone, Delhi Jaipur Highway, Binola, Gurgaon, Haryana - 122413,  India

Tel. No.:

91-124-4981000

Fax No.:

91-124-4981002

 

 

Regional Office 1:

Suite # 46, Vatika Business Centre, Level 5, C Wing, Tech Park 1, Airport Road Yerwada, Pune – 411006, Maharashtra, India

Tel No.:

91-20-40111421

Fax No.:

91-20-40111105

 

 

Regional Office 2:

Regus, Room # 226, 3rd Floor, Altius Olympia Technology Park, 1-Sidco, Industrial Estate, Guindy, Chennai – 600032, Tamilnadu, India

Tel. No.:

91-44-42994366

Fax No.:

91-44-42994300

 

 

DIRECTORS

 

As on 25.08.2014

 

Name :

Mr. Hira Lal Bhartia

Designation :

Chairman cum Managing director

Address :

B – 42, 2nd Floor, Panchsheel Enclave, New Delhi – 110017, India

Date of Birth/Age :

03.09.1945

Date of Appointment :

01.12.2009

DIN No.:

00755562

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

U74899DL1995PTC069625

ZAVENIR DAUBERT INDIA PRIVATE LIMITED

Director

01/12/2009

09/06/1995

-

Active

NO

2

U70109DL2010PTC200210

ZAVENIR DEVELOPERS PRIVATE LIMITED

Director

16/03/2010

16/03/2010

-

Active

NO

 

 

Name :

Mr. Saket Bhartia

Designation :

Managing Director

Address :

B – 42, 2nd Floor, Panchsheel Enclave, New Delhi – 110017, India

Date of Birth/Age :

17.01.1974

Date of Appointment :

01.12.2009

DIN No.:

00755433

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

U74899DL1995PTC069625

ZAVENIR DAUBERT INDIA PRIVATE LIMITED

Managing director

01/12/2009

09/06/1995

-

Active

NO

2

L25201WB1994PLC066143

CHERRY POLYPACK LIMITED

Director

07/09/2009

20/04/2009

-

Active

NO

 

 

Name :

Ms. Ruchika Bhartia

Designation :

Director

Address :

B – 42, 2nd Floor, Panchsheel Enclave, New Delhi – 110017, India

Date of Birth/Age :

15.07.1979

Date of Appointment :

30.09.2009

DIN No.:

00552661

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

L25201WB1994PLC066143

CHERRY POLYPACK LIMITED

Director

27/06/2001

27/06/2001

-

Active

NO

2

U74899DL1995PTC069625

ZAVENIR DAUBERT INDIA PRIVATE LIMITED

Director

30/09/2009

20/05/2009

-

Active

NO

 

 

MAJOR SHAREHOLDERS

 

As on 25.08.2014

 

Names of Shareholders

 

No. of Shares

Hira Lal bhartia

 

100

Saket Bhartia

 

1492700

Pratik Bhartia

 

100

Basant Kumar Mansinghka

 

20000

Bharat Mansinghka

 

15000

Ruchi Goel

 

100

Spike Chemicals Private Limited, India

 

100

SLV Marketing Private Limited, India

 

100

Subh Labh Super Steels Private Limited, India

 

100

Satish Chandra Goel

 

100

Subhash chandra

 

100

Navneet Gupta (HUF)

 

100

Adesh Kumar Goel

 

100

Ruchika Bhartia

 

48800

Mridula Mansinghka

 

15000

 

 

 

Total

 

1592500

 

 

As on 25.08.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

97.00

Other top fifty shareholders

3.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter, Importer and Supplier of VCI Papers, VCI Films, VCI Liquids, VCI Emitters.

 

 

Products :
  • VCI Papers
  • VCI Films
  • VCI Liquids
  • VCI Emitters

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

European country

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Germany
  • Japan
  • UK

 

 

Terms :

 

Selling :

L/C and Credit

 

 

Purchasing :

L/C and Credit

 

PRODUCTION STATUS= Not Available

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

JPS Plastics Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

End Users and Manufacturer

 

Reference :

Maruti Suzuki India Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

80 (Approximately)

 

 

Bankers :
  • Barclays Bank PLC, Eros Corporation Towers, Nehru Pace, New Delhi – 19, New Delhi – 110019, India

 

 

Bank Name

HDFC Bank Limited

Branch

HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, 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 Millions)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans from Bank

21.838

23.049

 

 

 

SHORT TERM BORROWING

 

 

Working Capital limit from Bank

51.920

58.589

 

 

 

Total

73.758

81.638

 

Financial Institution :

ICICI Home Finance Company Limited, ICICI Bank Towers, Bandra – Kurla Complex, Mumbai – 400051, Maharashtra, India

 

 

Auditors :

 

Name :

Mathur and Sharma Associates

Chartered Accountant

Address :

2860, Chail Puri Street, Kinari Bazaar, Delhi – 110006, India

Tel. No.:

91-11-23268315/23261217

PAN No.:

AABFM1845Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 25.08.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2500000

Equity Shares

Rs.10/- each

Rs. 25.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1592500

Equity Shares

Rs.10/- each

Rs. 15.925 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

15.925

15.925

15.925

(b) Reserves & Surplus

64.565

56.371

49.587

(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)

80.490

72.296

65.512

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

44.164

43.746

46.487

(b) Deferred tax liabilities (Net)

16.123

13.254

11.601

(c) Other long term liabilities

7.530

4.675

4.678

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

67.817

61.675

62.766

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

51.920

58.589

52.530

(b) Trade payables

83.737

52.147

42.286

(c) Other current liabilities

30.288

21.573

16.934

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

165.945

132.309

111.750

 

 

 

 

TOTAL

314.252

266.280

240.028

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

136.473

124.574

115.707

(ii) Intangible Assets

2.068

2.767

3.203

(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

1.367

1.456

0.478

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

139.908

128.797

119.388

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

71.960

59.238

60.487

(c) Trade receivables

88.489

66.621

49.107

(d) Cash and cash equivalents

1.858

1.780

1.717

(e) Short-term loans and advances

11.984

9.835

9.320

(f) Other current assets

0.053

0.009

0.009

Total Current Assets

174.344

137.483

120.640

 

 

 

 

TOTAL

314.252

266.280

240.028

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

457.423

370.780

 

 

Other Income

 NA

0.657

 

 

TOTAL

NA

371.437

313.608

 

 

 

 

 

Less

TOTAL EXPENSES

444.304

362.222

298.818

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

NA

16.644

14.790

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

NA

7.429

6.078

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

13.119

9.215

8.712

 

 

 

 

 

Less

TAX

4.925

2.431

3.002

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

8.194

6.784

5.710

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

5.15

4.26

3.59

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

17.772

13.574

10.309

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

1.79

1.83

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.17

3.46

3.63

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.16

0.13

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.19

1.42

1.51

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.05

1.04

1.08

 

 

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

15.925

15.925

15.925

Reserves & Surplus

49.587

56.371

64.565

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

65.512

72.296

80.490

 

 

 

 

long-term borrowings

46.487

43.746

44.164

Short term borrowings

52.53

58.589

51.92

Current maturities of long-term debts

10.309

13.574

17.772

Total borrowings

109.326

115.909

113.856

Debt/Equity ratio

1.669

1.603

1.415

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

370.78

457.423

 

23.368

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

370.780

457.423

Profit

6.784

8.194

 

1.83%

1.79%

 

 

 

 

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)

Yes

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 two 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 from related parties

9.553

8.882

Other loans

12.773

11.815

 

 

 

Total

22.326

20.697

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10309782

19/03/2013 *

134,030,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

B71381545

 

* Date of charge modification

 

 

 

FIXED ASSETS

Tangible Assets

  • Air Conditioner and Fridge
  • Computer
  • Electrical Installation
  • Factory Building
  • Furniture and Fixture
  • Land
  • Office Equipment
  • Plant and Machinery
  • Vehicle

Intangible Assets

  • Software

 

 

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.63.37

UK Pound

1

Rs.102.54

Euro

1

Rs.75.32

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KRN

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY 

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

45

 

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.