1. Summary Information
|
|
|
Country |
|
|
Company Name |
TEAM SUSTAIN |
Principal Name 1 |
Mr. George Mathew (Proprietor) |
|
Status |
Satisfactory |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
Team House, Plot No. 71, MRA, Kakkanad |
||
|
Established Date |
2000 |
SIC Code |
-- |
|
Telephone# |
91-484-3298806/ 07 |
Business Style 1 |
Design |
|
Fax # |
91-484-2421176 |
Business Style 2 |
Engineering |
|
Homepage |
Product Name 1 |
Renewable Energy Project |
|
|
# of employees |
62 |
Product Name 2 |
-- |
|
Proprietor Current and Capital Accounts |
Rs.61,757,000/- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Dena Bank |
|
Public Limited Corp. |
No |
Business Period |
10 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates/
Subsidiary |
-- |
Team Software and Consultancy Services |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.09.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
29,917,000 |
Current Liabilities |
27,974,000 |
|
Inventories |
51,106,000 |
Long-term Liabilities |
21,449,000 |
|
Fixed Assets |
30,157,000 |
Other Liabilities |
0,000,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
49,423,000 |
|
Invest& other Assets |
0,000,000 |
Retained Earnings |
0,000,000 |
|
|
|
Net Worth |
61,757,000 |
|
Total Assets |
111,180,000 |
Total Liab. & Equity |
111,180,000 |
|
Total Assets (Previous Year) |
80,148,000 |
|
|
|
P/L Statement as of |
30.09.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
96,282,000 |
Net Profit |
3,189,000 |
|
Sales(Previous yr) |
154,251,000 |
Net Profit(Prev.yr) |
5,278,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
TEAM SUSTAIN |
|
|
|
|
Registered
Office : |
Team House, Plot No. 71, MRA, Kakkanad |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
30.09.2010 |
|
|
|
|
Year of Incorporation : |
2000 |
|
|
|
|
IEC No.: |
1005007471 |
|
|
|
|
SSI Registration No. and Date : |
32/008/12/06215/ Part II (Dated: 03.03.2009) |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCT5908P |
|
|
|
|
Legal Form : |
Sole Proprietory Concern. |
|
|
|
|
Line of Business
: |
Design, Engineering and Procurement, Installation and Commissioning of
Renewable Energy Project. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established Proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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) |
|
|
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 : |
Ms. Lucy Louis |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9995552975 |
|
Date : |
11.01.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Team House, Plot No. 71, MRA, Kakkanad |
|
Tel. No.: |
91-484-3298806/ 07 |
|
Fax No.: |
91-484-2421176 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
6270 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office 1/ Factory : |
Door No.X/234, Pancode, Vadavucode P. O., Ernakulam – 682310, |
|
Tel No.: |
91-484-3295204 |
|
Area : |
4150 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office 2: |
Door No.X/300, Kanjiramattom P. O., Ernakulam – 682315, |
|
Tel No.: |
91-484-2427846 |
|
Area : |
3080 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Overseas Branches : |
|
|
Tel. No.: |
1-888-233-9266 |
|
Fax No.: |
1-815-425-8761 |
SOLE PROPRIETOR
|
Name : |
Mr. George Mathew |
|
Designation : |
Proprietor |
|
Address : |
Door No.254/X, |
|
Date of Birth/Age : |
42 Years |
|
Qualification : |
BE Technical |
|
Experience : |
16 years |
KEY EXECUTIVES
|
Name : |
Ms. Lucy Louis |
|
Designation : |
Finance Manager |
BUSINESS DETAILS
|
Line of Business : |
Design, Engineering and Procurement, Installation and Commissioning of
Renewable Energy Project. |
|
|
|
|
Products : |
·
Solar Photovoltaic ·
Solar Power Packs ·
Biomass Gasification Equipment ·
Sewage Treatment Plants ·
Water Treatment Plants ·
Pool Heating Systems ·
Biodiesel
|
|
|
|
|
Agencies Held : |
·
Outback Power Systems, ·
·
Balmer, · Shenzhen General Technology Company Limited ·
Ecosmarte Pool Systems and Accessories, ·
Torqueedo · Aquatherm Industries Inc. |
|
|
|
|
Exports : |
|
|
Products : |
Engineering Equipments |
|
Countries : |
·
·
·
·
·
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-60 days) |
GENERAL INFORMATION
|
Suppliers : |
· Outback Power Technologies · Torqueedo GmbH ·
Balmer, ·
KISCO, ·
Outback Power Systems, ·
EMVEE Solar, ·
Phocos Solar, ·
Central Marketing ·
Others, |
|
|
|
|
Customers : |
Wholesalers and OEM’s · Holserv Private Limited ·
· Electrocom Ideas and Technologies Limited ·
Dewcon Instruments Inc., ·
W2E USA Inc., ·
CGH Earth Group, ·
Others, |
|
|
|
|
No. of Employees : |
62 (Office -22, Factory -40) |
|
|
|
|
Bankers : |
·
United Bank of Branch ·
Citi Bank Branch M.G.Road, · Dena Bank Kakkanad Branch, A Seaport – |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nigam Associates Chartered Accountant |
|
|
|
|
Associates/Subsidiaries : |
§
Team Software and Consultancy Services VII/ 516-E, Seaport – Line of Business: Engineering Services |
CAPITAL STRUCTURE
|
Capital Investment : |
30.09.2010 (Rs. In Millions) |
|
|
|
|
Proprietor’s Capital Account |
43.500 |
|
Proprietor’s Current Account |
18.257 |
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
30.09.2010 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital Account |
|
43.500 |
20.000 |
|
|
2] Proprietor’s Current Account |
|
18.257 |
15.398 |
|
|
3] Share Application Money |
|
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
5] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
61.757 |
35.398 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
21.449 |
16.989 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
21.449 |
16.989 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
83.206 |
52.387 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
30.157 |
7.598 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
51.106 |
45.697 |
|
|
Sundry Debtors |
|
28.927 |
25.327 |
|
|
Cash & Bank Balances |
|
0.030 |
0.039 |
|
|
Other Current Assets |
|
0.744 |
0.744 |
|
|
Loans & Advances |
|
0.216 |
0.743 |
|
Total
Current Assets |
|
81.023 |
72.550 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
10.701 |
11.091 |
|
|
Other Current Liabilities |
|
17.273 |
16.670 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
27.974 |
27.761 |
|
|
Net Current Assets |
|
53.049 |
44.789 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
83.206 |
52.387 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
30.09.2010 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
96.282 |
154.251 |
|
|
|
Other Income |
|
0.825 |
1.558 |
|
|
|
TOTAL (A) |
|
97.107 |
155.809 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
67.555 |
107.973 |
|
|
|
Carried Inwards |
|
2.420 |
3.924 |
|
|
|
Installation Expenses |
|
4.729 |
7.164 |
|
|
|
Salaries and Allowances |
|
3.342 |
5.460 |
|
|
|
Travelling and Conveyance |
|
1.969 |
3.216 |
|
|
|
Carriage Outward |
|
2.261 |
3.695 |
|
|
|
Duties and Taxes Paid |
|
1.734 |
2.833 |
|
|
|
Other Expenses |
|
7.290 |
12.257 |
|
|
|
TOTAL (B) |
|
91.300 |
146.522 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
5.807 |
9.287 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.344 |
2.197 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
4.463 |
7.090 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.274 |
1.812 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (E-F)
(G) |
|
3.189 |
5.278 |
|
KEY RATIOS
|
PARTICULARS |
|
|
30.09.2010 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
3.28 |
3.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.31 |
3.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.87 |
6.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.80 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.90 |
2.61 |
LOCAL AGENCY FURTHER INFORMATION
INTRODUCTION
SMALL SCALE INDUSTRY
(SSI) PERFORMANCE AND CREDIT RATING:
The Small Scale Industry (SSI) performance and credit rating is a
relatively new concept in which the rating agencies give an opinion regarding the
general creditworthiness of the SSI and its performance. It includes an
objective assessment of the SSI unit on a scale of operating performance,
infrastructure facilities, viability of systems, buyer’s and vendor’s
satisfaction, financial resources, creditworthiness, existing working capital
arrangements, management style, motivational/ commitment levels and lifestyle
of the Proprietor.
Traditionally, an SSI faces the constraints on various ends, especially
sourcing of adequate and timely financing. To overcome these difficulties,
Government of India under the Ministry of Small Scale Industry, has signed a
memorandum of understanding with Onicra Credit Rating Agency of India Limited
to provide the Performance and Credit Rating for SSI units.
As a successful individual entrepreneur or a bunch/ group of individuals
run most of the SSI units, a different approach is required to assess these
units. The Ministry of Finance, Government of India, acknowledged Onicra as
pioneers of individual credit rating in the Economic survey of
The first and foremost advantage of the performance and credit rating is
that a SSI unit gets an independent, experienced and trusted third party
opinion on the capability and creditworthiness of the unit. Moreover, it helps
the unit to improve upon the identified areas of weaknesses.
DETAILS OF THE
PROPRIETOR
The proprietor is responsible for pioneering the concept of Eco-Tourism in Kerala and had published various papers through ministry of new and renewable energy sources, Govt. of India, on the same. He is a consultant and visiting faculty to a number of institutions and corporate houses which include inter-alia, the Centre for Electro Chemicals Research Institute (CECRI), Department of Science and Technology, Govt. of India for Solar Photovoltaic and Fuel Cells, SCV Madhavidyalaya and the Periyar Renewable Energy Centre, Tamilnadu, Sago Manufacturers’ Association, Salem, for setting up a 2 mw power plant based on Bio-Methanation of Sago Waste.
BRIEF ABOUT THE
UNIT
Subject was established in 2000. The unit is a supplier of engineering
services and equipment in the Renewable Energy field. It specializes in
complete solutions including concept, design, project management, equipment
supply, installation, commissioning and servicing of renewable energy projects.
The company has been the pioneer in the “Clean Tech” sector, and having
accomplished path breaking projects in waste to energy, solar PV, solar
thermal, energy efficiency and bio diesel from waste oil.
BANK DETAILS:
The unit is having banking relation with United Bank of
|
Security |
Situated |
Area |
Market Value (Rs. In Millions) |
|
|
|
|
|
|
|
Kakkanad,
Ernakulam |
3500 sq. ft. |
22.500 |
|
Commercial Space
|
|
1000 sq. ft.
built up area |
7.000 |
|
Land |
Chittorr |
600 sq.ft. |
3.500 |
MAJOR ACTIVITIES
§
Engineering and Design Services in the field of
Energy and Environment
§
Engineering, Procurement and Commissioning of
projects in the field of Energy and Environment- pertaining to clean and green
technologies like solar power, waste to energy etc.
§
Design and Manufacture of Solar Powered/ Electric
Boats and Yachts
§
Energy Efficiency and Environmental Impact Study
§
Processing of Waste Oil to Bio-Diesel
§
Export of Engineering Services and Equipments as
well as Projects
§
Distribution of Clean, Green and Environment
Friendly Products
AWARD AND
ACHIEVEMENTS
§
Received International Boating Award (IBA) for
initiatives in Responsible Tourism in the year 2009.
§
Recognised for the “Largest Solar Catamaran in
§
Identified as sole supplier of equipments for waste
to energy gasification equipments by state
TECHNOLOGY
PARTNERS
§
Outback
§
Torqeedo
§
GETWATT,
§
SMA,
§
Ecosmarte
§
Hansung
RATING OF THE SSI
UNIT
RATING OF SSI UNIT
UNDER THE PERFORMANCE AND CREDIT RATING SCHEME
The analysis is done based on the Operating Performance and Financial
Strength Rating Grid as considered for this purpose. They have evaluated their
Score as per the parameters therein. Their Score is “SE 1A” which indicates
‘Highest Performance Capability and High Financial Strength’.
SUMMARY OF THE
FINANCIAL ANALYSIS
§
The liquidity position of the unit was moderate in
FY10
§
There were no long term secured funds during the
period
§
The Interest Coverage Ratio was moderate in the
FY10
§
The Turnover of the unit has shown a satisfactory
trend over the years. In the FY10, the Turnover has increased by as much as 24%
§
The Net Profit Margin was moderate in all the FYs
§
The return on capital employed was satisfactory
while return on owner’s fund was moderate in the FY10.
TRADE REFERENCE:
·
Mr. M. Thomas, CGH Earth, W
Mobile No.: 91-9847056561
· Mr. P. Raju, Arby Agencies, Thalayolaprambu, Kottayam
Mobile No.:91-9447137900
· Mr. Niraj Mehta, Abacus Holding Private Limited, Kolkata
NEWS:
TeamSustain located in
TeamSustain is offering consultancy to several clients for
its green building projects in areas such as reducing total electrical loads,
total energy security, chemical free swimming pool water treatment, organic
bioremediation, geothermal energy, waste to energy, corporate carbon management
with carbon credit and CDM projects. As ongoing efforts to design and offer
innovative solutions for eco tourism, Team Sustain has designed and developed a
fully solar powered environment friendly passenger boat available in various
passenger capacities.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.45.53 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.60.62 |
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 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.