MIRA INFORM REPORT

 

 

Report No. :

342228

Report Date :

23.09.2015

 

IDENTIFICATION DETAILS

 

Name :

HARIT POLYTECH PRIVATE LIMITED

 

 

Registered Office :

G – 79, RIICO Industrial Area, Bagru Extension, Tehsil Sanganer, Bagru – 303007, Rajasthan

Mobile No.:

91-9810003679

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

10.07.2006

 

 

Com. Reg. No.:

17-022783

 

 

Capital Investment / Paid-up Capital :

Rs.15.000 Million

 

 

CIN No.:

[Company Identification No.]

U25209RJ2006PTC022783

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCH1274J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing excellent quality range of Aluminium Ingots, Aluminium Wire, Wire Rod, Aluminium Rod, EC Grade Aluminium Rod and Alloy Wire Rod.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

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

 

 

Comments :

Subject is a Jaipur based company incorporated in the Year 2006. It has moderate track record.

 

The rating takes into consideration hefty debt level which lead to create risk to liquidity position of the company. There is drastic dip in the profit of the company as compared to previous year.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

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

 

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

 

Name :

Mr. Ajay Kumar Gupta

Designation :

Director

Contact No.:

91-9810003679

Date :

22.09.2015

 

 

LOCATIONS

 

Registered Office/ Factory  :

G – 79, RIICO Industrial Area, Bagru Extension, Tehsil Sanganer, Bagru – 303007, Rajasthan, India

Tel. No.:

91-141-5194165

Fax No.:

91-141-5194165

E-Mail :

haripolytechpvtltd@gmail.com   

haritpolytechac@gmail.com

cajpgupta@gmail.com

Area :

1100 sq. ft.

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Vijay Kumar Gupta

Designation :

Director

Address :

A – 20, Vivek Vihar, Delhi – 110095, India

Date of Appointment :

01.04.2009

PAN No.:

AAAPK4086A

DIN No.:

00360874

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

U74899DL1994PTC060540

PUSHPANJALI ENTERPRISES PRIVATE LIMITED

Director

20/10/1999

20/10/1999

-

Active

NO

2

U28113DL2009PTC188824

SELECTION ALUMINIUM WIRES PRIVATE LIMITED

Director

25/03/2009

25/03/2009

10/02/2011

Active

NO

3

U25209RJ2006PTC022783

HARIT POLYTECH PRIVATE LIMITED

Director

01/04/2009

01/04/2009

-

Active

NO

 

 

Name :

Mr. Ajay Kumar Gupta

Designation :

Director

Address :

A – 20, Vivek Vihar, Delhi – 110095, India

Date of Appointment :

01.04.2009

PAN No.:

AAHPG3656R

DIN No.:

00395773

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

U74899DL1994PTC060540

PUSHPANJALI ENTERPRISES PRIVATE LIMITED

Director

29/07/1994

29/07/1994

-

Active

NO

2

U74899DL1994PTC063586

BALI TOWERS PRIVATE LIMITED

Director

02/05/1995

02/05/1995

-

Active

NO

3

U28113DL2009PTC188824

SELECTION ALUMINIUM WIRES PRIVATE LIMITED

Director

25/03/2009

25/03/2009

10/02/2011

Active

NO

4

U25209RJ2006PTC022783

HARIT POLYTECH PRIVATE LIMITED

Director

01/04/2009

01/04/2009

-

Active

NO

5

U70100DL2001PTC110683

COZY DEVELOPERS PRIVATE LIMITED

Director

23/03/2013

23/03/2013

-

Active

NO

6

U45400DL2013PTC251318

MASTERS EARTH INDIA PRIVATE LIMITED

Director

01/05/2013

01/05/2013

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

Ajay Kumar Gupta

749980

Vijay Kumar Gupta

750000

Arpana Gupta

1

Chandra Prakash Gupta

1

Nidhi Gupta

1

Shweta Gupta

1

Arham Commercial Corporation

2

Arihant Enterprises

2

Prabhakar Gupta and Company

2

Deepak Kumar Hirawat

2

Hanuman Mal Barana HUF

1

Maruti Enterprises

1

PMB Capitals

1

Rishabh Enterprises

1

Shri Siddhi Enterprises

1

Vimal Enterprises

1

Harish Chandra Hemlata

1

Vikas Sethia

1

Total

1500000

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

99.99

Other top fifty shareholders

0.01

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in Manufacturing excellent quality range of Aluminium Ingots, Aluminium Wire, Wire Rod, Aluminium Rod, EC Grade Aluminium Rod and Alloy Wire Rod.

 

 

Products :

Item Code No.

Product Description

76051999

Aluminium Wire

76011040

Aluminium Wire Rod

76052100

Aluminium Alloy Rod

76052990

Aluminium Ingot

26204090

Dross

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :
  • Central Bank of India, 124 -128 Jayna Building, Railway Road, Shahdra, Delhi – 110032, Delhi, India

Bank Name

ICICI Bank Limited

Branch

Landmark race Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan and Advance from related parties

(Hypothecation Car)

1.014

1.279

 

 

 

 

 

 

SHORT TERM BORROWING

 

 

Rupee term loans form bank 

105.608

133.358

Total

106.622

134.637

 

 

 

Auditors :

 

Name :

SC Bapna and Associates

Chartered Accountants

Address :

C – 45, Greater Kailash Colony, Lalkothi, Jaipur - 302015, Rajasthan, India

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

AADFS4500J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Relative of Key Management Personnel :
  • C.P. Gupta and Sons, India 

 

 

Related Party:

  • Masters India Private Limited, India

 

 

Other Related Parties:
  • Sanjay Goyal and Sons, India
  • Vijay Gupta and Sons (HUF), India

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs. 15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs. 15.000 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

15.000

15.000

15.000

(b) Reserves & Surplus

39.289

30.090

15.057

(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)

54.289

45.090

30.057

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

344.175

333.596

256.120

(b) Deferred tax liabilities (Net)

0.358

0.376

0.434

(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)

344.533

333.972

256.554

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

105.608

162.725

129.379

(b) Trade payables

91.142

135.185

123.961

(c) Other current liabilities

183.769

137.045

28.898

(d) Short-term provisions

4.729

7.485

0.000

Total Current Liabilities (4)

385.248

442.440

282.238

 

 

 

 

TOTAL

784.070

821.502

568.849

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

67.168

71.161

53.204

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

3.395

(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

1.940

1.769

2.372

(e) Other Non-current assets

41.950

47.752

19.230

Total Non-Current Assets

111.058

120.682

78.201

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

183.505

196.185

95.900

(c) Trade receivables

418.305

419.984

324.629

(d) Cash and cash equivalents

61.393

75.797

44.314

(e) Short-term loans and advances

7.669

7.962

25.275

(f) Other current assets

2.140

0.892

0.530

Total Current Assets

673.012

700.820

490.648

 

 

 

 

TOTAL

784.070

821.502

568.849

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

TOTAL TURNOVER/SALES

2553.903

2367.945

1605.971

 

 

 

 

 

 

TOTAL EXPENSES

 N.A

 N.A

 N.A

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

21.136

28.851

7.461

 

 

 

 

 

DEPRECIATION/ AMORTISATION

7.027

6.231

4.222

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

14.108

22.620

3.239

 

 

 

 

 

TAX

4.910

7.588

0.144

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

9.199

15.033

3.096

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

6.13

10.02

2.06

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

N.A

N.A

N.A

Net cash flow from (used in)  operations

42.879

(40.916)

(62.603)

Net cash flow from (used in)  operating activities

37.901

(48.081)

(64.242)

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.36

0.63

0.19

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.80

2.75

0.57

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.26

0.50

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

8.28

11.01

12.83

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.75

1.58

1.74

 

 

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

15.000

15.000

15.000

Reserves & Surplus

15.057

30.090

39.289

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

30.057

45.090

54.289

 

 

 

 

long-term borrowings

256.120

333.596

344.175

Short term borrowings

129.379

162.725

105.608

Total borrowings

385.499

496.321

449.783

Debt/Equity ratio

12.826

11.007

8.285

 

 

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)

Turnover/Sales

1605.971

2367.945

2553.903

 

 

47.446

7.853

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover/Sales

1605.971

2367.945

2553.903

Profit

3.096

15.033

9.199

 

0.19%

0.63%

0.36%

 

 

 

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

Yes

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

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

Note: The Registered Office of the company has been shifted from 39, Shiv Path, Surajnnagar (West), Civil Lines, Jaipur – 303010, Rajasthan, India to the present address w.e.f. 30.04.2009.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan and Advance from other

343.161

332.316

 

 

 

SHORT TERM BORROWING

 

 

Working capital loans from bank

0.000

29.368

Total

343.161

361.684

 

 

INDEX OF CHARGES:

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10450769

30/08/2013

1,035,000.00

CENTRAL BANK OF INDIA

124-128 JAYNA BUILDING,, RAILWAY ROAD, SHAHDRA,  DELHI - 110032, INDIA

B85485720

2

10408384

08/04/2014 *

233,600,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA- 390015, GUJARAT, INDIA

C11824794

 

FIXED ASSETS

  • Land
  • Building
  • Fixture and Furniture
  • Vehicles
  • Office equipment
  • Computer

 

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.65.62

UK Pound

1

Rs.101.73

Euro

1

Rs.73.26

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

2

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

27

 

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.