MIRA INFORM REPORT

Report Date :

03.03.2011

IDENTIFICATION DETAILS

Name :	HIND ALUMINIUM INDUSTRIES LIMITED (W.E.F 7.09.2007)
Formerly Known As :	ASSOCIATED PROFILES AND ALUMINIUM LIMITED
Registered Office :	B-1, Tulsi Vihar Dr. Annie Besant Road, Worli Naka, Mumbai – 400 018, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	12.05.1987
Com. Reg. No.:	11-43472
CIN No.: [Company Identification No.]	L28920mh1987plc043472
TAN No.: [Tax Deduction & Collection Account No.]	Muma20110g
PAN No.: [Permanent Account No.]	Aaaca4671q
Legal Form :	Public Limited Company. The Company's shares are listed on the Stock Exchange.
Line of Business :	Manufacturer of Aluminium Wires and Conductors

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 1300000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well – established and reputed company having satisfactory track. Trade relations are fair. Business is active. Payments are reported as usually correct made 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. Ghanshyam
Designation :	Accounts Department
Date :	01.03.2011

LOCATIONS

Registered Office :	B-1, Tulsi Vihar Dr. Annie Besant Road, Worli Naka, Mumbai – 400 018, Maharashtra
Tel. No.:	91-22-24945178/40457100
Fax No.:	91-22-24936888
E-Mail :	apap@associatedgroup.com
Factory :	Aluminium Wire Rod and Conductor Survey No.1/2, Village Khutali, Khanvel-D'oodhani Road, Near Khanvel, Dist.; Silvassa – 396230, Dadra and Nagar Haveli (Union Territory). Wind Turbine Generations 1. Gut N0.59-1/A, Village; Akhtwade, Dist.; Nandurbar (Maharashtra). 2. Location No. 275, Survey No.818 of Village Narasewadi, Taluka; Tasgaon, Dist.; Sangli (Maharashtra). Minerals Division 5, Aishwarya Residency, G.E.Road, Telebandha, Raipur-492001 (Chattisgarh)

DIRECTORS

As on 29.08.2009

Name :	Mr. Lalit Kumar Daga
Designation :	Chairman
Address :	5-B, Purshottam Bhavan, Little Gibbs Road, Mumbai- 400 006, Maharasahtra, India
Date of Birth/Age :	10.10.1942
Date of Appointment :	12.05.1987
Name :	Mr. Shailesh Daga
Designation :	Managing Director
Address :	5-B, Purshottam Bhavan, Little Gibbs Road, Mumbai- 400 006, Maharasahtra, India
Date of Birth/Age :	19.03.1968
Date of Appointment :	12.05.1987
Name :	Mr. Sudhir Goel
Designation :	Director
Address :	301-B, Sanjeev Enclave, 7 Bunglow, Versova, andheri (West), Mumbai-400 026, Maharasahtra, India
Date of Birth/Age :	20.07.1949
Date of Appointment :	12.05.1987
Name :	Mr. Navin Shah
Designation :	Director
Address :	14, Gulistan, Carmichel Road, Mumbai-400 026, Maharasahtra, India
Date of Birth/Age :	06.07.1941
Date of Appointment :	04.06.2001
Name :	Mr. Sundeep Mohta
Designation :	Director
Address :	23, Kali Krishna Tagore Street, Kolkata- 700 007, West Bengal, India
Date of Birth/Age :	03.03.1970
Date of Appointment :	10.06.2003
Name :	Mr. Narayan Das Mundhra
Designation :	Director
Address :	Flat No.3-A, Gyan Apartments, Old no.19, New No.38, Venkatraman, T. Nagar, Chennai-600 017, Tamilnadu, India
Date of Birth/Age :	30.04.2009
Date of Appointment :	05.10.1955

KEY EXECUTIVES

Name :	Mr. R K Vasne
Designation :	VP in Finance
Name :	Shri J.S.K.Vig
Designation :	President-Minerals Division
Name :	Mr. CA. K.Agarwal
Designation :	Advisor -Wire Rod & Conductor Division
Name :	Mr. Shri A.S. Agarwal
Designation :	Sr. General Manager-Marketing - Wire Rod Division
Name :	Mr. Santosh L.Baghel
Designation :	General Manager-Works-Wire Rod & Conductor Division
Name :	Mr. Mahendra Jain
Designation :	General Manager-Accounts

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2010

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	1,420,350	22.54
Bodies Corporate	1,778,269	28.23
Sub Total	3,198,619	50.77
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	3,198,619	50.77
(B) Public Shareholding
(1) Institutions
(2) Non-Institutions
Bodies Corporate	281,997	4.48
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 million	1,849,048	29.35
Individual shareholders holding nominal share capital in excess of Rs.0.100 million	906,401	14.39
Any Others (Specify)	64,135	1.02
Non Resident Indians	64,135	1.02
Sub Total	3,101,581	49.23
Total Public shareholding (B)	3,101,581	49.23
Total (A)+(B)	6,300,200	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	-	-
(1) Promoter and Promoter Group	-	-
(2) Public	-	-
Sub Total	-	-
Total (A)+(B)+(C)	6,300,200	100.00

As on 29.08.2010

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	1.47
Bodies corporate	1.96
Directors or relatives of Directors	63.97
Other top fifty shareholders	11.81
Others	20.79
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Aluminium Wires and Conductors

Products :

Item Code No. (ITC Code)	76011040,76012040 260600
Product Description	Aluminium Wire Rod whether or not alloyed/ Bauxite/ Iron Ore

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Installed Capacity	Actual Production
Wire Rod Plant	MT	25000	11269.301
Conductors	MT	12000	1699.547
Wind Turbine Generator	KW	2750	-
Conversion of other Materials
- Wire rod	MT	---	7504.833
- Conductors	MT	---	4758.729

GENERAL INFORMATION

No. of Employees :

80 (20 in Office and 60 in Factory) Approximately -

Bankers :

· State Bank of India, Vapi

· ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda-390 015, Gujarat, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Cash Credit/ Buyers Credit/ LC from ICICI Bank Limited (First charge by way of hypothecation of entire Stock of Raw Materials, Work in Process, Finished and Stores and Book Debts and second charge on plant and machinery, Factory, Building, Flat at Silvassa)	100.830	165.792
Kotak Mahindra Prime Limited (Secured by hypothecation of Motor Car)	0.000	0.341
FNCB (C and I) USd term Loan from State Bank of India, Vapi (Secured by hypothecation of Leasehold land, Fixed Assets and personal personal guarantees of Directors)	35.013	43.969
Term Loan from State Bank of India, Vapi (Secured by hypothecation of raw materials, stock-in-process, finished stock, fixed assets and personal guarantees of Directors)	33.511	52.713
Cash Credit/ Buyers Credit/ LC from Standard Chartered Bank Limited, Mumbai (Secured by way of pari passu charge on all present and future current assets of the company.	98.237	0.000
Total	267.591	262.815

Banking Relations :	-
Auditors :
Name :	A J Baliya and Associates Chartered Accountants
Address :	1, Gala Towers, Bhai Balmukund Road,Chinchpokli (E), Mumbai-400 012, Maharashtra, India
Associates/Subsidiaries :	· Associated Aluminium Industries Private Limited · Nirav Commercials Limited · Associated Non-Ferrous Metals Private Limited · Daga Rubber Works Private Limited Dynavent Air-Systems Private Limited

CAPITAL STRUCTURE

As on: 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5500000	Equity Shares	Rs. 10/- each	Rs. 55.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000200	Equity Shares	Rs. 10/- each	Rs.50.002 millions

Note:-

(Out of above 352620 Equity shares of Rs.10/- each were issued as fully paid up Bonus Shares by capitalisation of balance in Profit and Loss Account and General Reserves)

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		50.002	50.002	50.002
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		273.185	254.619	239.862
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		323.187	304.621	289.864
LOAN FUNDS
1] Secured Loans		267.591	262.815	131.208
2] Unsecured Loans		0.000	49.081	44.521
TOTAL BORROWING		267.591	311.896	175.729
DEFERRED TAX LIABILITIES		44.831	48.535	46.706
TOTAL		635.609	665.052	512.300
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		228.507	239.153	246.473
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		3.475	3.523	2.631
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	108.303	40.359	42.045
	Sundry Debtors	238.181	237.973	217.697
	Cash & Bank Balances	40.441	25.340	68.348
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	127.369	161.826	111.284
Total Current Assets		514.294	465.498	439.374
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	87.671	30.183
	Other Current Liabilities	14.222	4.164	167.404
	Provisions	8.775	8.775	8.774
Total Current Liabilities		110.668	43.122	176.178
Net Current Assets		403.626	422.376	263.196
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		635.609	665.052	512.300

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1784.978	2170.615	2037.625
		Conversion charged received	50.258	30.514	23.697
		Other Income	6.131	3.459	3.623
		TOTAL (A)	1841.367	2204.588	2064.945
Less	EXPENSES
		Material Cost	1661.202	2026.916	1886.921
		Manufacturing Expenses	66.090	62.839	48.403
		Employee Cost	14.593	12.273	6.630
		Administrative Expenses	17.577	20.000	14.128
		Selling and Distribution Expenses	11.202	9.336	10.295
		TOTAL (B)	1770.664	2131.364	1966.377
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		70.703	73.224	98.568
Less	FINANCIAL EXPENSES (D)		8.044	12.027	11.222
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		62.659	61.197	87.346
Less/ Add	DEPRECIATION/ AMORTISATION (F)		26.402	25.426	21.225
	PROFIT BEFORE TAX (E-F) (G)		36.257	35.771	66.121
Less	TAX (H)		8.917	12.239	23.753
	PROFIT AFTER TAX (G-H) (I)		27.340	23.532	42.368
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		240.162	227.905	196.812
Less	APPROPRIATIONS
		Proposed Dividend	7.500	7.500	7.500
		Tax on Dividend	1.275	1.275	1.275
		Transfer to General Reserve	2.500	2.500	2.500
	BALANCE CARRIED TO THE B/S		256.227	240.162	227.905
	EARNINGS IN FOREIGN CURRENCY		0.000	28.957	212.259
	IMPORTS
		Raw Materials	20.457	0.000	0.000
		Stores & Spares	240.552	115.508	97.852
	TOTAL IMPORTS		261.009	115.508	97.852
	Earnings Per Share (Rs.)		5.47	-	-

QUARTERLY / SUMMARISED RESULTS

PARTICULARS	30.06.2010	30.09.2010	31.12.2010
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Net Sales	735.890	652.960	860.240
Total Expenditure	712.760	637.080	840.810
PBIDT (Excl OI)	23.130	15.880	19.430
Other Income	6.760	2.950	0.240
Operating Profit	29.890	18.830	19.670
Interest	1.530	1.360	1.400
Exceptional Items	0.000	0.000	0.000
PBDT	28.360	17.470	18.270
Depreciation	6.660	6.740	6.820
Profit Before Tax	21.700	10.730	11.450
Tax	0.000	10.500	5.200
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	21.700	0.230	6.250
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	21.700	0.230	6.250

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.48	1.07	2.05
Net Profit Margin (PBT/Sales)	(%)	2.03	1.65	3.25
Return on Total Assets (PBT/Total Assets}	(%)	4.88	5.08	9.64
Return on Investment (ROI) (PBT/Networth)		0.11	0.12	0.10
Debt Equity Ratio (Total Liability/Networth)		2.64	1.17	1.21
Current Ratio (Current Asset/Current Liability)		4.65	10.79	2.49

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)
Sundry Creditors	87.671	30.183

REVIEW OF OPERATIONS

In the year gone by tire total income of the Company has reduced from Rs.2204.600 Millions to Rs.1841.400 millions. This has primarily been on account of raw material prices being low in the first half of the year. Also in the Mining Division there is s reduction in the quantity of Bauxite traded which has contributed to the reduction in the total income. The profit before depreciation has gone up marginally to Rs.62.700 millions from Rs.61.200 millions and the corresponding profit alter tax also gone upto Rs.27.400 millions from Rs.23.500millions.

WIRE RODS AND CONDUCTORS:

In the year gone by the Aluminum Division of the Company has shown an increase in its production from 22,003 MT in the previous year to 25,232 MT in the current year. This has primarily on account of increase in production of Conductors which has gone up from 3117 MT to 6458 MT. The capacity utilization of Conductor Plant is consistently going up and we hope in the current year we will see significant jump over the last year figures.

We are pleased to inform you that the Company has got itself registered with most Electricity Boards in the country. We have also supplied to a lot of them and are presently having good orders for supply of Aluminium Conductors. All these should contribute to an increase in the Aluminium Division’s sales.

MINING BUSINESS

The year 2009-10 was a bad year for the mining business. Iron Ore prices have beer fluctuating dramatically because of which we have restricted our exposure to this commodity. There has been marginal increase in our sales from 31 .2g7 MT lo 32,620 MT. Even the Bauxite quantity has reduced significantly from 55.197 MT to 15.424 MT. This has primarily been on account of certain logistical problems faced in the year near mine locations. These problems have subsequently been solved and we hope that in the current year we will see a good increase in the volume of Bauxite handled.This will contribute to both turnover as well as profitability of this division.

Bankers Charges Report as per Registry

Corporate identity number of the company	L28920MH1987PLC043472
Name of the company	HIND ALUMINIUM INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	B-1 Tulsi Vihardr Annie Besant Road, Worli Naka, Mumbai-400 018, Maharashtra, India
This form is for	Creation of charge
Type of charge	Movable Property Others Current Assets, Receivables
Particular of charge holder	ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda-390 015, Gujarat, India
Nature of description of the instrument creating or modifying the charge	Deed of hypothecation dated 1st October 2010, executed by borrower in favour of ICICI Bank Limited for creation of first charge on the Firms entire stocks of raw materials and other current assets both present and future, on pari passu basis with other working capital bankers, Second charge on plant and machinery situated at Survey no-1by 1 and 1by 2,Village Khutali, Khanvel, Silvassa and Second charge on plant and machinery situated at Plot No.1 and 2, Kanhigam Road, Daman.
Date of instrument Creating the charge	01.10.2010
Amount secured by the charge	Rs.310.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per sanction terms. Terms of Repayment On demand. Margin As per sanction terms. Extent and Operation of the charge 1.First Charge by way of hypothecation of the Firms entire stocks of raw materials and other current assets including book-debts, bills whether documentary or clean, outstanding monies, receivables, both present and future, on pari passu basis with other working capital bankers. 2.Second charge by way of hypothecation of plant and machinery situated at Survey no-1by 1 and 1by 2,Village Khutali, Khanvel, Silvassa and plant and machinery situated at Plot No.1 and 2,Kanhigam Road, Daman.
Short particulars of the property charged	First Charge by way of hypothecation of the Firms entire stocks of raw materials, semifinished and finished goods, consumable stores and spares and such other movables including book-debts, bills whether documentary or clean, outstanding monies, receivables, both present and future,on pari passu basis with other working capital bankers. Second charge by way of hypothecation on plant and machinery situated at Survey no. 1 by1 and 1by 2,Village Khutali, Khanvel Doodhani Road, Near Khanvel, Silvassa. Second charge by way of hypothecation on plant and machinery situated at Plot No.1 and 2, Kanhigam Road, Daman.

fixed assets:-

· Land and Site Development

· Factory Building

· Computers

· Wind Turbine Generator

· Office Equipments

· Vehicles

· Computers

· Plant and Machinery

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.45.12
UK Pound	1	Rs.73.43
Euro	1	Rs.62.32

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--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	yes
--LISTED	YES/NO	yes
--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.