MIRA INFORM REPORT

Report Date :

06.04.2011

IDENTIFICATION DETAILS

Name :	OMKAR SPECIALITY CHEMICALS LIMITED
Registered Office :	B-34, MIDC, Badlapur-421503, Maharashtra
Country :	India
Financial as on :	31.03.2010
Date of Incorporation :	24.02.2005
Com. Reg. No.:	11-151589
CIN No.: [Company Identification No.]	U24110MH2005PTC151589
TAN No.: [Tax Deduction & Collection Account No.]	MUM003622D
PAN No.: [Permanent Account No.]	AAACO7311D
Legal Form :	A Closely held Public Limited Liability Company.
Line of Business :	Manufacturer of Specialty Chemical and Intermediates.

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 630000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Vaman
Designation :	Accounts Executive
Contact No.:	91-251-2690651
Date :	02.04.2011

LOCATIONS

Registered Office/Corporate Office :	B-34, MIDC, Badlapur-421503, Maharashtra, India
Tel. No.:	91-251-2690651/ 2691602/ 2697319/ 2697340/ 48/ 49
Mobile No.:	91-9822059477 (Mr. Omkar Herlekar)
Fax No.:	91-251-2691572/ 2697347
E-Mail :	rishi@bom8.vsnl.net.in acharya@omkarchemicals.com omkarchem@vsnl.com info@omkarchemicals.com
Website Details:	www.omkarchemicals.com
Area :	480Sq.Mtrs.
Locations :	Owned
Factory :	W-92, (A) MIDC, Badlapur (East), Thane – 421 503, Maharashtra, India
Tel. No.:	91-251-2690651/ 2697340 / 95251-2697349
Fax No.:	91-251-2691572/ 2697349
Locations :	Owned
Branch Office :	F-24, MIDC Badlapur, Thane – 421 503, Maharashtra
Tel No.:	91-25-2691852
Location :	Owned

DIRECTORS

As on 09.09.2010

Name :	Mr. Pravin Shivdas Herlekar
Designation :	Director
Address :	“Sitaram”, Genesh Chowk, Manjali, Badlapur (West), District – Thane – 421503, Maharashtra, India.
Date of Birth/ Age :	02.10.1949
Qualification :	Chemicals Engineer
Date of Appointment :	24.02.2005
Name :	Mr. Shivdas Ramrao Herlekar
Designation :	Director
Address :	“Sitaram”, Genesh Chowk, Manjali, Badlapur (West), District – Thane – 421503, Maharashtra, India.
Qualification :	B. Com.
Date of Appointment :	24.02.2005
Name :	Mrs. Anjali Pravin Herlekar
Designation :	Managing Director
Address :	“Sitaram”, Genesh Chowk, Manjali, Badlapur (West), District – Thane – 421503, Maharashtra, India.
Qualification :	Graduate
Date of Birth/ Age :	03.05.1960
Date of Appointment :	24.02.2005
Name :	Mr. Girish Madhavrao Deshpande
Designation :	Director
Address :	“Sitaram”, Genesh Chowk, Manjali, Badlapur (West), District – Thane – 421503, Maharashtra, India.
Date of Birth/ Age :	13.03.1981
Date of Appointment :	10.08.2007
Date of Cessation :	01.04.2010
Name :	Mr. Dattatraya Madhav Deshpande
Designation :	Director
Address :	Mahalsa Narayani, Genesh Chowk, Manjali, Badlapur (West), District – Thane – 421503, Maharashtra, India.
Date of Birth/ Age :	21.04.1949
Date of Appointment :	01.06.2007
Email :	oscpl_h@rediffmail.com
Date of Cessation :	01.04.2010
Name :	Mr. Omkar Herlekar
Designation :	Director
Address :	Mahalsa Narayani, Genesh Chowk, Manjali, Badlapur (West), District – Thane – 421503, Maharashtra, India.
Date of Birth/ Age :	21.04.1949
Date of Appointment :	01.06.2007
Email :	oscpl_h@rediffmail.com
Name :	Mr. Subhash Pandurang Mali
Designation :	Director
Address :	601/604 F Wing, Building 11, Neelam Nagar, Phase II, Mulund(E), Mumbai-400081, Maharashtra, India
Date of Birth/ Age :	29.01.1953
Date of Appointment :	25.03.2010
Name :	Mr. Amit Anil Pandit
Designation :	Director
Address :	D-201/202 Satellite Park, Subhash Road (South), Jogeshwari(E), Mumbai-400060, Mahrashtra, India
Date of Birth/ Age :	30.03.1971
Date of Appointment :	25.03.2010
Name :	Mr. Vikas Narendra Telvekar
Designation :	Director
Address :	21/836, D N Nagar, Andheri(W), Mumbai-400053, Maharashtra, India
Date of Birth/ Age :	30.07.1970
Date of Appointment :	25.03.2010
Name :	Mr. Suhas Maruti Rane
Designation :	Director
Address :	15, Vihar Darshan, Siddharth Nagar, Goregaon(W), Mumbai-400062, Maharashtra, India
Date of Birth/ Age :	03.12.1951
Date of Appointment :	25.03.2010

KEY EXECUTIVES

Name :	Nitesh A Pradhan and Company
Designation :	Company Secretary
Address :	C/8, Anagha, Dr. Sarojini Naidu Road, Mulund (West), Mumbai – 400 080, Maharashtra, India.
Name :	Mr. Vivek Acharya
Designation :	Accountant Manager
Name :	Mr. Vaman
Designation :	Accounts Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 09.09.2010

Names of Shareholders	No. of Shares
Mr. Pravin Herlekar	9144480
Mr. Shivdas Herlekar	22440
Ms. Anjali Herlekar	1208240
Mr. Omkar Pravin Herlekar	576410
Mr. Girish Mahadev Deshpande	10
Mr. Rishikesh Pravin Herlekar	576410
Mr. Dattatraya Mahadev Deshpande	10
Total	11528000

As on 09.09.2010

Category	Percentage
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Specialty Chemical and Intermediates.
Products :	Iodine Compounds Selenium Compounds Hypervalent Iodine Molybdenum and Vanadium Series Intermediates
Exports :
Products :	Chemical Products
Countries :	Italy Australia Germany Middle East South America Canada Europe
Imports :
Products :	Raw Material
Countries :	Belgium China
Terms :
Selling :	L/C, Cash, Credit (30 days, 60 days, 90 days)
Purchasing :	L/C, Cash, Credit (30 days, 60 days, 90 days)

GENERAL INFORMATION

Customers :

• Wholesalers
• Retailers
• OEM’s
• End Users
• Chemicals
• Allied Industries

No. of Employees :

150

Bankers :

• Citi bank N.A, Citibusiness, Citibank Centre, 2^nd Floor, Bandra Kurla Complex, Bandra (East), Mumbai;400051, Maharashtra, India

• Small Industries Development Bank of India, 102, R M Pride Building, Rani Maruti Road, Thane (West), Mumbai – 400 602, Maharashtra, India.

• ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India.

• Bank of Baroda, Fort University Branch, M G Road, Fort, Mumbai – 400 023, Maharashtra

Facilities :

• CC – Rs.80.000 Millions from Citi Bank
• CC – Rs.30.000 Millions and LC – Rs.30.000 Millions From ICICI Bank
• CC – Rs. 200.000 millions

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Bank
Term Loan From Banks Rupee Loans	60.750	81.000
Working Capital Loans From Banks	191.151	118.163
Total	251.901	199.163

Notes:-

1) a)Term loans from Banks were secured by way of hypothecation of stock and book debts and first charge on land, building and plant and machinery situated at plot No. F-24, plot No. W -92A, plot No. F -10/1, MIDC, Badlapur, Dist : Thane in Maharashtra

b)Personal guarantee of the promoter directors of the company

2) a) Working Capital Loans Banks were secured by way of hypothecation of stock and book debts and first charge on land, building and plant and machinery situated at plot No. F-24, plot No. W -92A, plot No. F -10/1, MIDC, Badlapur, Dist : Thane in Maharashtra

b)Personal guarantee of the promoter directors of the company

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors	0.521	3.022
Term Loans from Financial Institutions	5.980	28.313
Short Term Loans from Financial Institutions	9.254	30.322
Total	15.755	61.657

Note:

1) Term Loans from Financial Institutions due within a year is Rs.4.556 Millions (2) Short Term Loans from Financial Institutions due within a year is Rs.9.254 Millions.

3) Term Loans from Financial Institutions are secured by personal guarantee of the promoter directors of the company

Banking Relations :

Satisfactory

Auditors :

Name 1:

P V Kamat and Company

Chartered Accountants

Address :

H12 Khankdelwal Bhavan 2^nd floor 166 Dr. D. N. Road Mumbai - 400001, Maharashtra

Tel No.:

91-22-22051375/ 26422759

Name 2:

Siddharth Sinkar and Associates

Chartered Accountants

Address :

502, Prasad Apartment, Chaphekar Bandhu Marg, Mulund (East), Mumbai – 400 081, Maharashtra

Tel. No.:

91-22-21632188

Associates/Subsidiaries:

Rishi Chem Research Private Limited,

W – 92 (A), MIDC, Badlapur (East), Thane – 421503, Maharashtra, India

Activity : Research and Development

CAPITAL STRUCTURE

As on 31.03.2010:-

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs. 100/- each	Rs.250.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1152800	Equity Shares	Rs.100/- each	Rs.115.280 Millions

Note:

of the above equity shares:-

1) 25100(Previous year 25100) Equity shares of Rs. 100/- each have been issued for consideration other than cash

2) 1126600 (previous year Nil) Equity shares of Rs.100/- each have been allotted as fully paid -up by way of bonus shares by way of capitalisation of Profits and Security Premium A/c

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		115.280	2.620	2.620
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		43.532	113.035	81.693
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		158.812	115.655	84.313
LOAN FUNDS
1] Secured Loans		251.901	199.163	101.015
2] Unsecured Loans		15.755	61.657	39.630
TOTAL BORROWING		267.656	260.820	140.645
DEFERRED TAX LIABILITIES		4.297	2.194	0.256
TOTAL		430.765	378.669	225.214
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		156.028	149.561	22.038
Capital work-in-progress		5.793	0.000	45.107
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	194.818	152.431	79.256
	Sundry Debtors	165.771	149.659	79.222
	Cash & Bank Balances	4.193	2.069	3.382
	Other Current Assets	0.000	45.203	44.487
	Loans & Advances	85.832	5.338	4.814
Total Current Assets		450.614	354.700	211.161
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	120.841	89.786	27.563
	Current Liabilities	1.182	6.552	12.096
	Provisions	59.647	29.281	13.489
Total Current Liabilities		181.670	125.619	53.148
Net Current Assets		268.944	229.081	158.013
MISCELLANEOUS EXPENSES		0.000	0.027	0.056
TOTAL		430.765	378.669	225.214

Expected Sales (2010-2011) : Rs.800.000 Millions

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sale	683.496	510.100
		Other Income	2.654	0.226
		TOTAL (A)	686.150	510.326	457.144
Less	EXPENSES
		Cost of Material Consumed	461.928	333.501
		Increase/ (Decrease) in Stock	(3.041)	3.864
		Other Manufacturing Expenses	40.277	38.106
		Advertising Expenses	22.062	17.142
		Cost of Employment	34.063	27.303
		TOTAL (B)	555.289	419.916	393.978
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		130.861	90.410	63.166
Less	FINANCIAL EXPENSES (D)		37.440	35.959	20.977
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		93.421	54.451	42.189
Less/ Add	DEPRECIATION/ AMORTISATION (F)		18.534	4.830	2.554
	PROFIT BEFORE TAX (E-F) (G)		74.887	49.621	39.635
Less	TAX (I)		23.050	18.279	13.621
	PROFIT AFTER TAX (G-I) (J)		51.837	31.342	26.014
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		90.446	59.103	NA
Less	APPROPRIATIONS
		Transfer to General Reserve	15.000	0.000	NA
		Dividend	5.764	0.000	NA
		Tax on Dividend	0.957	0.000	NA
	BALANCE CARRIED TO THE B/S		120.562	90.446	NA
	Earnings Per Share (Rs.)		45.00	--	--

Expected Sales (2010-2011) : Rs.800.000 Millions

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	7.55	5.76	6.06
Net Profit Margin (PBT/Sales)	(%)	10.95	9.13	NA
Return on Total Assets (PBT/Total Assets}	(%)	12.34	9.84	16.99
Return on Investment (ROI) (PBT/Networth)		0.47	0.43	0.47
Debt Equity Ratio (Total Liability/Networth)		2.82	3.34	2.30
Current Ratio (Current Asset/Current Liability)		2.48	2.82	3.97

LOCAL AGENCY FURTHER INFORMATION

Sundry Creditors Details:

Particulars	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009	Rs. In Millions 31.03.2008
Sundry Creditors for Goods	106.985	73.258	19.313
Sundry Creditors for Expenses	13.856	16.528	8.250

Note:

Omkar Speciality Private Limited was incorporated on 24^th February, 2005 and took over the business of proprietorship firm Omkar Chemicals. The Private Limited Company was converted into a Public Limited Company on 18^th March, 2010.

Note :

The registered office address has bee shifted from W-92 (A), MIDC, BAdlapur (E), Thane-421503, Maharashtra, India to present w.e.f. 19.03.2010.

FORM 8:-

Corporate identity number of the company	U24110MH2005PTC151589
Name of the company	OMKAR SPECIALITY CHEMICALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	W-92 (A), MIDC, Badlapur (E), Thane- 421 503, Maharashtra
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Bank of Baroda, Fort University Branch, M.G. Road, Fort, Mumbai – 400023, Maharashtra E-Mail : fortune@bankofbaroda.com
Nature of instrument creating charge	Memorandum of entry
Date of instrument Creating the charge	26.06.2009
Amount secured by the charge	Rs. 321.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: · Cash Credit: Interest at rate of 0.50%p.a. over BPLR · Term Loan I and II: Interest at rate of 0.50%p.a. over BPLR of Bank with minimum of 13%, · LC(DP/DA):Interest at rate of 0.50% over BPLR Terms of Repayment: · Cash Credit : As per Agreement · Term Loan I and II : Payable on Demand · LC(DP/DA):As per Agreement Margin: · Cash Credit : As per Agreement · Term Loan I: As per deed of Hypothecation of movable machinery. · Term Loan II: As per Agreement · LC(DP/DA): As per Agreement Extent and Operation of charge This charge shall extent to the immovable property of the Company as specified in the Second schedule to the Memorandum of Entry and shall be limited to Rs.321 millions.
Short particulars of the property charged (Including location of the property)	The immovable property situated at Plot No.W-92(A) in the Badlapur Industrial area of Maharashtra Industrial Development Corporation as more specifically described in Memorandum of entry

This form is for	Creation of charge
Corporate identity number of the company	U24110MH2005PTC151589
Name of the company	OMKAR SPECIALITY CHEMICALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	W – 92, (A), MIDC, Badlapur (East), Thane – 421 503, Maharashtra, India.
Type of charge	Immovable Property
Particular of charge holder	ICICI Bank Limited Landmark Race Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India. E-Mail: vishal.daga@icicibank.com CIN No.: L65190GJ1994PLC021012
Nature of instrument creating charge	Declaration executed by Omkar Speciality Chemicals Private Limited in favour of ICICI Bank Limited
Date of instrument Creating the charge	26.11.2007
Amount secured by the charge	Rs.60.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Cash Credit -3.25% p.a. below I-Bar as on date (15.75% p.a.) plus cash credit premium of 0.5% p.a. and hence cash credit interest rate is 13.0% Terms of Repayment: The borrower shall unless otherwise agreed by the bank, repay to the bank forthwith on demand such amount as may be outstanding together with all interests, costs, charges, expenses and monies stipulated in the agreement. Margin: Inventory: Uniform margin of 30% against all components of inventory Book debts: Cover period : 90 days and Margin : 30%

TRADE REFERENCES:-

• Alpha Industrial Engineering Projects Private Limited

FIXED ASSETS:-

• Land
• Factory Building
• Plant and Machinery
• Electrical Installations
• Laboratory Equipment
• Furniture and Fixture
• Office Equipment
• Computers
• Motor Car
• Fire Extinguisher
• Weights and Measurement
• Motor Cycle

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 records 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 records 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.44.45
UK Pound	1	Rs.71.58
Euro	1	Rs.63.01

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--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	Yes
--AFFILIATION	YES/NO	No
--LISTED	YES/NO	No
--OTHER MERIT FACTORS	YES/NO	Yes
TOTAL		48

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
-	NB	New Business	-

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.