MIRA INFORM REPORT

 

 

Report No. :

506239

Report Date :

30.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

WINDIAM NV

 

 

Registered Office :

Hoveniersstraat53-Bus 18 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2017

 

 

Date of Incorporation :

30.05.1991

 

 

Com. Reg. No.:

444250793

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Wholesale of Diamonds and Other Precious Stones.

 

 

No. of Employees :

26

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

 

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Belgium

A2

A2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

 

BELGIUM - ECONOMIC OVERVIEW

 

Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. Service and high-tech industries are concentrated in the northern Flanders region while the southern region of Wallonia is home to industries like coal and steel manufacturing. Belgium is completely reliant on foreign sources of fossil fuels, and the planned closure of its seven nuclear plants by 2025 should increase its dependence on foreign energy. Its role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU.

Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. The economy largely recovered from the March 2016 terrorist attacks that mainly impacted the Brussels region tourist and hospitality industry. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to decrease Belgium's high public debt of about 104% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and higher inflation promise to curtail a more robust recovery in private consumption.

The government has pledged to pursue a reform program to improve Belgium’s competitiveness, including changes to labor market rules and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes. In 2017, Belgium approved a tax reform plan to ease corporate rates from 33% to 29% by 2018 and down to 25% by 2020. The tax plan also included benefits for innovation and SMEs, intended to spur competitiveness and private investment.

 

Source : CIA

 

 

COMPANY NAME

 

WINDIAM NV 

 

 

Company summary                        

 

Business  number

444250793

Branche  Unit  Number

2130697149

Company  name

WINDIAM NV

Address

HOVENIERSSTRAAT53-BUS 18 2018 ANTWERPEN

Date of Establishment

30/05/1991

Telephone  number

3232266444

Mobile  number

--

Fax  number

032266200

Liable  for  VAT

yes

VAT  Number

BE.0444.250.793  Check  VAT  number

 

 

Ultimate holding company

 

Company Name

Company Number

 

WINDIAM  NV

444250793

 

 

Commentary

 

The  business  was  established  over  26  years  ago.

The  business  has  26  employees.

The  business  is  part  of  a  group.

The  business  has  been  at  the  address  for  over  15  years.

Operating Result in  the  latest  trading  period  increased  2003% on the previous trading period.

Pre-tax profits increased  by  4744%  compared  to  the  previous  trading  period. The business saw an increase in their Cash Balance of 23% during the latest trading period. Turnover in the latest trading period increased 24% on the previous trading period.

 

 

Annual accounts

 

DATE  OF  LATEST 

ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

30/06/2017

175,048,679

3,790,040

14,346,760

10,666,007

30/06/2016

140,541,536

78,235

13,855,738

9,962,302

30/06/2015

182,154,704

-237,210

13,785,518

10,014,546

Accounts

 

 

 

 

DATE  OF  LATEST 

ACCOUNTS

BALANCE  TOTAL

NUMBER  OF 

EMPLOYEES

CAPITAL

CASHFLOW

30/06/2017

31,095,665

26

61,500

3,487,187

30/06/2016

32,690,033

22

18,600

167,097

30/06/2015

30,754,364

21

18,600

-141,192

 

 

PAYMENT EXPECTATIONS

 

Past Payments

 

Payment expectation days

21.53

Industry Average Payment expectation days

202.59

Industry average day sales outstanding

211.65

Day sales outstanding

18.24

 

 

 

 

COURT DATA SUMMARY

 

BANKRUPTCY DETAILS

 

Court  action  type

no

 

PROTESTED BILLS

 

Bill  amount

-

 

NSSO DETAILS

 

Date  of  summons

-

 

 

Company Information

 

Business  number

444250793

Company  name

WINDIAM  NV

Fax  number

032266200

Date  founded

30/05/1991

Company  status

active

Company  type

Public limited company

Currency

Euro  (€)

Date  of  latest  accounts

30/06/2017

Activity  code

46761

Number  of  staff

26

Activity  description

Wholesale  of  diamonds  and other precious stones

 

 

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor number

-

Contractor  description

-

Date  struck  off  register

 

Personnel  (NSSO  classification)

Code

-

Description

-

Joint  Industrial  Committee  (JIC)

JIC  Code

200

Description

Additional  joint  committee  for  the  employees

category

 

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

Significant  Events

Event  Date

16/12/2005

Event  Description

New Co-Ordinated Text of the statutes filed

Event  Details

Commentaar 16-12-2005: Wijziging Statuten.

 

 

COMPANY ACCOUNTS

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

30-06-2017

%

30-06-2016

%

30-06-2015

%

30-06-2014

%

30-06-2013

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

3,906,006

-0.29

3,917,303

-1.30

3,969,012

-3.40

4,108,517

-1.81

4,184,405

Intangible  fixed  assets

21,353

36.71

15,619

-5.89

16,596

-18.39

20,335

1.63

20,009

Tangible  fixed  assets

3,852,527

-0.44

3,869,688

-1.32

3,921,285

-1.66

3,987,486

-1.71

4,056,822

Land  &  building

3,679,952

-0.68

3,705,254

-0.68

3,730,556

-0.67

3,755,858

-0.67

3,781,160

Plant  &  machinery

159,810

17.48

136,037

-7.42

146,937

-9.25

161,919

-11.71

183,398

Furniture  &  Vehicles

12,765

-55.05

28,397

-35.15

43,792

-37.18

69,708

-24.45

92,264

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

32,126

0.41

31,996

2.78

31,131

-69.08

100,697

-6.39

107,574

Total  current  assets

27,189,659

-5.50

28,772,731

7.42

26,785,352

-8.79

29,366,940

17.16

25,064,937

Inventories

13,639,405

-3.87

14,188,178

-2.88

14,608,686

42.06

10,283,329

11.14

9,252,882

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

13,639,405

-3.87

14,188,178

-2.88

14,608,686

42.06

10,283,329

11.14

9,252,882

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

8,749,976

4.43

8,378,404

7.55

7,790,325

-54.58

17,153,153

27.56

13,446,984

Other  amounts  receivable

4,038,436

-28.92

5,681,632

88.69

3,011,049

84.15

1,635,082

245

473,689

Cash

485,714

23.70

392,656

-69.54

1,288,952

410

252,732

-55.89

573,007

Miscellaneous  current  assets

276,129

109

131,862

52.73

86,339

102

42,643

55.36

27,447

Total  Assets

31,095,665

-4.88

32,690,033

6.29

30,754,364

-8.13

33,475,457

14.45

29,249,342

 

 

LIABILITIES

 

Total  shareholders  equity

14,368,113

3.58

13,871,357

0.50

13,802,113

-1.70

14,040,561

0.34

13,993,302

Issued  share  capital

61,500

230

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

3,050,106

0

3,050,106

0

3,050,106

0

3,050,106

0

3,050,106

Reserves

11,256,508

4.20

10,802,651

0.65

10,733,408

-2.17

10,971,855

0.43

10,924,596

Provisions  for  Liabilities  & Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

16,727,552

-11.11

18,818,677

11.01

16,952,251

-12.77

19,434,896

27.39

15,256,040

Other  long  term  loans

200,000

4499

4,348

-97.55

177,545

-26.48

241,478

-80.87

1,262,274

Other  long  term  liabilities

3,900

0

3,900

0

3,900

0

3,900

0

3,900

Total  long  term  debts

203,900

2372

8,248

-95.45

181,445

-26.05

245,378

-80.62

1,266,174

Current  portion  of  long  term  debt

1,231,127

1221

93,143

-35.24

143,819

-49.97

287,469

-34.99

442,199

Financial  debts

3,945,132

39.46

2,828,829

37.62

2,055,590

-43.32

3,626,745

39.52

2,599,388

Trade  creditors

10,088,121

-34.49

15,399,247

9.93

14,008,593

-7.10

15,078,695

42.41

10,588,323

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

642,487

217

202,375

18.31

171,055

-4.83

179,736

-14.04

209,097

Miscellaneous  current  liabilities

616,785

115

286,834

-26.78

391,748

2221

16,874

-88.81

150,859

Total  current  liabilities

16,523,652

-12.16

18,810,429

12.16

16,770,806

-12.60

19,189,519

37.17

13,989,866

Total  Liabilities

31,095,665

-4.88

32,690,033

6.29

30,754,364

-8.13

33,475,457

14.45

29,249,342

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

2.17

3516

0.06

46.15

-0.13

-285

0.07

70.0

-0.10

Return  on  capital  employed

26.01

4544

0.56

32.94

-1.70

-350

0.68

97.14

-0.70

Return  on  total  assets  employed

12.19

4979

0.24

31.17

-0.77

-365

0.29

80.56

-0.36

Return  on  net  assets  employed

26.38

4610

0.56

32.56

-1.72

-349

0.69

90.79

-0.76

Sales  /  net  working  capital

16.41

16.30

14.11

-22.43

18.19

29.65

14.03

46.60

9.57

Stock  turnover  ratio

7.79

-22.87

10.10

25.94

8.02

11.39

7.20

-17.53

8.73

Creditor  days

21.53

-46.24

40.05

42.68

28.07

-27.34

38.63

5.86

36.49

Debtor  days

18.24

-16.18

21.76

39.40

15.61

-64.41

43.86

-5.31

46.32

SHORT TERM STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.65

7.84

1.53

-4.38

1.60

4.58

1.53

-14.53

1.79

Liquidity  ratio  /  acid  ratio

0.82

5.13

0.78

6.85

0.73

-26.26

0.99

-12.39

1.13

Current  debt  ratio

1.15

-15.44

1.36

11.48

1.22

-10.95

1.37

37.00

1.00

Cashflow

3,487,187

1986

167,097

118

-141,192

-189

157,109

1045

-15,027

Net  worth

14,346,760

3.54

13,855,738

0.51

13,785,518

-1.67

14,020,226

0.34

13,973,292

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

37.42

77.35

21.10

22.53

17.22

-41.82

29.60

-3.77

30.76

Equity  in  percentage

46.24

8.93

42.45

-5.46

44.90

6.98

41.97

-12.33

47.87

Total  debt  ratio

1.16

-14.71

1.36

10.57

1.23

-10.87

1.38

26.61

1.09

Working  capital

10,666,007

7.06

9,962,302

-0.52

10,014,546

-1.60

10,177,421

-8.11

11,075,070

 

 

PROFIT & LOSS

 

Operating  Income

175,255,374

24.24

141,062,618

-22.71

182,501,611

27.63

142,990,024

34.56

106,267,020

Turnover

175,048,679

24.55

140,541,536

-22.84

182,154,704

27.61

142,747,713

34.72

105,962,674

Total  operating  expenses

171,008,947

21.85

140,349,513

-22.96

182,169,450

27.86

142,476,997

34.53

105,906,373

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

175,272,164

24.42

140,870,594

-22.82

182,516,357

27.88

142,719,308

34.37

106,210,719

Employee  costs

1,065,928

24.13

858,709

8.24

793,365

-5.82

842,385

-24.75

1,119,505

Wages  and  salary

823,636

26.54

650,892

10.36

589,768

-4.50

617,551

-24.90

822,259

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security

171,149

9.42

156,410

5.90

147,699

-9.87

163,879

-21.13

207,785

contributions

 

 

 

 

 

 

 

 

 

Other  employee  costs

71,143

38.39

51,408

-8.03

55,897

-8.30

60,955

-31.86

89,461

Director  remuneration

166,556

14.70

145,216

0

145,216

0

145,216

0

145,216

Amortization  and depreciation

90,431

-7.59

97,854

0.62

97,255

-11.47

109,850

2.83

106,828

Operating  result

4,039,732

2003

192,024

1302

-14,746

-105

270,716

380

56,301

Total  financial  income

174,674

40.82

124,037

227

37,865

10.79

34,177

-32.88

50,918

Total  financial  expenses

407,576

71.38

237,825

-8.64

260,329

25.35

207,687

-2.83

213,744

Results  on  ordinary operations  before  taxation

3,790,040

4744

78,235

32.98

-237,210

-344

97,206

91.25

-106,525

Extraordinary  Income

72,900

1262

5,351

-96.24

142,374

1108

11,778

-60.25

29,630

Extraordinary  Charges

55,860

10256

539

-99

143,614

5605

2,517

-88.02

21,005

Extraordinary  items

17,040

254

4,811

387

-1,240

-113

9,261

7.38

8,625

Results  for  the  Year  Before Taxation

3,807,080

4484

83,046

34.83

-238,450

-323

106,468

108

-97,900

Taxation

410,323

2872

13,803

440981

-3

-100

59,209

147

23,955

Results  on  ordinary operations  after  taxation

3,379,716

5145

64,432

27.16

-237,207

-724

37,998

29.12

-130,480

Net  result

3,396,756

4805

69,244

29.04

-238,447

-604

47,259

38.78

-121,855

Profit  (Loss)  for  the Year to be appropiated

3,396,756

4805

69,244

29.04

-238,447

-604

47,259

38.78

-121,855

Dividends

1,066,326

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details    

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  30-06-2017

 

Full-time  Employees

25

Part-time  Employees

4

Total  Fte  Employees

26

Number  of  hours  worked

 

Full-time  Employees

44,536

Part-time  Employees

2,984

Total

47,520

Personnel  Charges

 

Full-time  Employees

1,008,300

Part-time  Employees

57,628

Total

1,065,928

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

22

Actual  working  hours

38,771

Personnel  Charges

858,709

Benefits  In  Addition  To  Wages

-

 

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

24

3

25

Limited  Duration  Contracts

2

-

2

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

 

 

GENDER AND EDUCATION LEVEL

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

9

-

9

Secondairy  education

3

1

4

Higher  education  (non

3

-

3

university)

 

 

 

Higher  education

3

-

3

(university)

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

2

1

3

Secondairy  education

4

1

4

Higher  education  (non

2

-

2

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

22

3

23

Blue  collar  worker

4

-

4

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

6

-

6

Leavers

3

-

3

 

 

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

industry  average  credit rating

69.57

Industry  average  credit  limit

181076.06

 

 

Payment Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

7

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

5

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

2

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

 

Suspension of payments/ moratorium  history

 

Amount

-

Details

-

Payment  expectations

 

Payment  expectation  days

21.53

Day  sales  outstanding

18.24

Industry  comparison

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation  days

202.59

Industry average Day sales outstanding

211.65

 

 

INDUSTRY QUARTILE ANALYSIS

 

PAYMENT EXPECTATIONS

 

Company  result

21.53

Lower

132.04

Median

58.79

Upper

25.65

 

 

DAY SALES OUTSTANDING

 

Company  result

18.24

Lower

136.36

Median

81.74

Upper

44.49

 

 

Shareholder Details

 

Summary

 

Group  -  Number  of  Companies

3

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Group Structure

 

Company  name

Number

 

Latest financials

- WINDIAM  NV

444250793

30-06-2017

- - WINDIAM  NORTH  AMERICA  INC

 

 

- - WINDIAM  USA

 

 

 

 

 

Minority Shareholders

 

No minority shareholders found

 

 

Minority Interests

 

Business number

Company  name

%

Date  of accounts

 

 

 

 

-

WINDIAM  ITALY

50

-

 

 

Companies that match this address

 

 

Business  number

Company  name

Date  of  accounts

826601930

WINDIAM  JEWELLERY  BVBA

30/06/2017

 

 

Linked Companies

 

Summary

 

Group  -  Number  of  Companies

3

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

 

Position

Managing  Director

Start  Date

24/03/2017

Street

27 d'Oultremontlei  Brasschaat

Post  code

2930

Country

Belgium

Name

Gon  Raz

Position

Director

Start  Date

24/03/2017

Street

27 d'Oultremontlei  Brasschaat

Post  code

2930

Country

Belgium

Name

Alexander  Jaffe

Position

Managing  Director

Start  Date

24/03/2017

Street

34 Sumatralaan  Uccle

Post  code

1180

Country

Belgium

Position

Director

Start  Date

24/03/2017

Street

34 Sumatralaan  Uccle

Post  code

1180

Country

Belgium

 

 

FORMER DIRECTOR DETAILS

 

Name

Alexander  Jaffe

Position

Manager

Start  Date

01/01/1999

End  Date

24/03/2017

Date  of  birth

17/02/1972

Street

113 WASHINGTONSTRAAT  BRUSSEL

Post  code

1050

Country

Belgium

Name

Gon  Raz

Position

Manager

 

Start  Date

30/05/1991

 

End  Date

24/03/2017

 

Street

1 PRINS  ALBERTLEI  Berchem  (Antwerpen)

 

Post  code

2600

 

Country

Belgium

 

Name

Assaf  Raz

 

Position

Manager

 

Start  Date

01/09/2005

 

End  Date

01/02/2011

 

Street

24 RUBENSLEI  ANTWERPEN

 

Post  code

2018

 

Country

Belgium

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

EUR

1

INR 80.47

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

NIT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

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.