MIRA INFORM REPORT

 

 

Report No. :

342256

Report Date :

24.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SAIRAJ TECHINFRA PRIVATE LIMITED

 

 

Registered Office :

S. No. 1584, Sadashiv Peth, Near Tilak Smarak mandir, Pune – 411030, Maharashtra

Tel. No.:

91-20-41212000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

12.03.2010

 

 

Com. Reg. No.:

11-135778

 

 

Capital Investment / Paid-up Capital :

Rs. 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U45209PN2010PTC135778

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNES30237E

 

 

PAN No.:

[Permanent Account No.]

AAOCS3613C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Distributor of Computer Accessories 

 

 

No. of Employees :

32 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2010 and it is a trader and distributor of computer accessories.

 

Company reported satisfactory operational performance and it has maintained sound profitability margins at 1.45% during FY 2014.

 

Rating also takes into consideration company’s above average financial profile marked by modest net worth base and moderate debt protection metrics of the company.

 

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

 

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

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

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

 

Name :

Ms. Pallavi

Designation :

Accountant

Contact No.:

91-20-41212000

Date :

22.09.2015

 

 

LOCATIONS

 

Registered Office :

S. No. 1584, Sadashiv Peth, Near Tilak Smarak mandir, Pune – 411030, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9370242444 (Mr. Sagar)

Fax No.:

Not Available

E-Mail :

sairajacc@gmail.com

Location :

Owned

 

 

Corporate Office:

Notebook Hub 1584, Sadashiv Peth, Kushal Shirke, Tilak Road, Pune-411030, Maharashtra, India

Tel. No.:

91-20-41212000

E-Mail :

Devendra.notebookhub@gmail.com

 

 

Branch Office 1 :

Notebook Hub, 1577, Sadashiv Peth, Opposite Maharashtra Mandal, Tilak Road, Pune-411030, Maharashtra, India

Tel. No.:

91-20-65242608

 

 

Branch Office 2 :

Notebook Hub, Karishma Society, Kothrud, Pune, Maharashtra, India

Tel. No.:

91-20-41303503

 

 

Branch Office 3 :

Notebook Hub, G-3, Laxmi Complex, B4 Big Bazar, Chinchwad - 19, Pune, Maharashtra, India

Tel. No.:

91-20-35106695

 

 

Branch Office 4 :

Notebook Hub, Opposite Croma Mall, Aundh, Pune, Maharashtra, India

Tel. No.:

91-20-41303505

 

 

Branch Office 5 :

Notebook Hub, Plot No - 72, Shop 3/4/5, Viman Nagar, Pune, Maharashtra, India

Tel. No.:

91-20-40209525

 

 

DIRECTORS

 

AS ON: 30.09.2013

 

Name :

Mr. Azaruddin Usman Tamboli

Designation :

Director

Address :

Flat No. 21, 4th  Floor, Poonam Palace, 843, Bhavani Peth, Nr Bharat Cinema, Pune - 411042, Maharashtra, India

Date of Birth/Age :

23.04.1985

Date of Appointment :

12.03.2010

DIN No.:

02848871

 

 

Name :

Mr. Arshad Usman Tamboli

Designation :

Director

Address :

Flat No.21, 4th  Floor, Poonam Palace, 840, Bhavani Peth, Pune - 411011, Maharashtra, India

Date of Birth/Age :

19.11.1987

Date of Appointment :

12.03.2010

DIN No.:

02848899

 

 

Name :

Mr. Usman Hashamoddin Tamboli

Designation :

Director

Address :

Flat No. 501, 5th  Floor, Pacific Pearl 998, New Nana Peth, Padamji Park., Pune - 411002, Maharashtra, India

Date of Birth/Age :

03.03.1960

Date of Appointment :

12.03.2010

DIN No.:

02851975

 

 

Name :

Mrs.Shahnaj Usman Tamboli

Designation :

Director

Address :

Flat No. 501, 5th  Floor, Pacific Pearl, 998 New Nana Peth, Padamji Park, Pune - 411002, Maharashtra, India

Date of Birth/Age :

29.01.1966

Date of Appointment :

12.03.2010

DIN No.:

02864455

 

KEY EXECUTIVES

 

Name :

Ms. Pallavi

Designation :

Accountant

 

 

Name :

Mr. Sagar

Designation :

Business Development Management

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2013

 

Names of Shareholders

No. of Shares

Percentage of Holding

Azaruddin Usman Tamboli

2500

25.00

Arshad Usman Tamboli

2500

25.00

Shahnaj Usman Tamboli

2500

25.00

Usman Hashamoddin Tamboli

2500

25.00

Total

10000

100.00

 

 

 

 

 

 

AS ON: 30.09.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Distributor of Computer Accessories 

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Aryan Computer Solutions

·         Data Care Corporation

·         House of Laptop Private Limited

·         Lee the Computer Shoppee

·         Neoteric Infomatique Limited

·         Sairaj Traders

·         Stech Computers

·         Sujata Computers Private Limited

·         Monarch Technologies Private Limited

·         Shree Ram Udyog Samuh

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Dikibi Technologies Private Limited

·         Anas Traders

·         Benchmark Solutions

·         Burhani Computers

·         Opal Computers

·         Sidewalk Systems

·         S.S. Enterprises

·         Unique Computers

·         Aditi Enterprises

·         Alpha Computers

 

 

No. of Employees :

32 (Approximately)

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-22-66521000 (Ringing)

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged  

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Kotak Mahindra Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Long term borrowings

 

 

HDFC Bank CC Account

2.264

7.179

Kotak Mahindra Bank

20.756

0.000

 

 

 

Total

 

23.020

7.179

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Arun Ringne and Company

Chartered Accountants

Address :

Office No.32, 3rd Floor, AB Wing, Shree Gurudatta Sahawas Apartment, 470, Shaniwar Peth, Pune – 411030, Maharashtra, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs. 1.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.100

0.100

0.100

(b) Reserves & Surplus

8.919

6.442

2.316

(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)

9.019

6.542

2.416

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

23.020

7.179

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

23.020

7.179

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

52.583

23.942

34.842

(c) Other current liabilities

6.046

3.148

0.828

(d) Short-term provisions

0.781

0.311

0.205

Total Current Liabilities (4)

59.410

27.401

35.875

 

 

 

 

TOTAL

91.449

41.122

38.291

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

11.188

1.708

1.107

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.031

0.047

0.011

(d)  Long-term Loan and Advances

0.890

0.890

0.710

(e) Other Non-current assets

 

 

0.000

Total Non-Current Assets

12.109

2.645

1.828

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

27.723

6.673

15.334

(d) Cash and cash equivalents

5.121

2.359

13.641

(e) Short-term loans and advances

15.983

11.085

0.000

(f) Other current assets

30.513

18.360

7.488

Total Current Assets

79.340

38.477

36.463

 

 

 

 

TOTAL

91.449

41.122

38.291

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

TOTAL                                     (A)

331.007

216.713

83.145

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

321.382

211.937

80.840

 

 

 

 

 

 

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

9.625

4.776

(Including financial and depreciation)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

1.475

0.408

 

 

 

 

 

 

 

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

8.150

4.368

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1.189

0.278

 

 

 

 

 

 

 

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

6.961

4.090

2.305

 

 

 

 

 

Less

TAX                                                                  (H)

2.170

(0.036)

(0.011)

 

 

 

 

 

 

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

4.791

4.126

2.316

 

 

 

 

 

 

Earnings Per Share (Rs.)

479.10

412.60

231.60

 

 

PARTICULARS

 

 

31.03.2015

31.03.2014

Sales Turnover (Approximately)

 

700.000

400.000

 

 

(Due to production increase)

 

The above information has been parted by Ms. Pallavi (Accountant).

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.61

9.96

6.02

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.77

0.63

0.95

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

2.55

1.10

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.34

1.40

1.02

 

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

0.100

0.100

0.100

Reserves & Surplus

2.316

6.442

8.919

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2.416

6.542

9.019

 

 

 

 

Long-term borrowings

0.000

7.179

23.020

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

7.179

23.020

Debt/Equity ratio

0.000

1.097

2.552

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

83.145

216.713

331.007

 

 

160.645

52.740

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

83.145

216.713

331.007

Profit

2.316

4.126

4.791

 

2.79%

1.90%

1.45%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

No

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

 

 

INDEX OF CHARGES

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10292564

20/03/2012 *

10,000,000.00

HDFC BANK LIMITED

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

B35133958

 

* Date of charge modification

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from Shop No 12, Poonam Palace, Near Bharat Talkies, Bhavani Peth, Pune – 411042, Maharashtra, India to the present address

 

 

REVIEW OF OPERATION AND FUTURE OUTLOOK

 

The company has reported Net profits after tax of Rs. 4.791 million one of the reasons for growth in profitability of the Company is a result of the improved performance of the Company and the same has been reflected by the growth in the operating income of the Company. The Directors have taken and shall continue to undertake rigorous and precise efforts and shall also adopt various strategies and plans which would be advantageous and in the best interest of the company to reap efficient results in the future years to come.

 

 

FIXED ASSETS:

 

·         Air Conditioner

·         Furniture and Fixtures

·         Furniture Chinchwad

·         Furniture Tilak Road

·         Furniture Aundh

·         Furniture Kothrud

·         Furniture Vimamnagar

 

 

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.65.97

UK Pound

1

Rs.101.19

Euro

1

Rs.73.38

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ARC

 

 

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

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

 

43

 

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.