MIRA INFORM REPORT

Report Date :

19.03.2011

IDENTIFICATION DETAILS

Name :	YASHASHVI RASAYAN PRIVATE LIMITED
Registered Office :	Survey No.60/1, Ground Floor, Plot- 1 and 2, Near Shukan Bungalow, Opposite Maheshvari Bhavan, City Light Area, Surat – 395001, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.01.2003
Com. Reg. No.:	04-41827
CIN No.: [Company Identification No.]	U24119GJ2003PTC041827
TAN No.: [Tax Deduction & Collection Account No.]	SRTY00115D
PAN No.: [Permanent Account No.]	AAACY1854F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of all types of Organic Chemicals.

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 299000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company is under severe pressure. There appears some accumulated losses recorded by the company. However, trade relations are fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with same cautions.

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 DECLINED BY

Management Non Co Operative (Name Not Disclosed)

LOCATIONS

Registered Office :	Survey No.60/1, Ground Floor, Plot- 1 and 2, Near Shukan Bungalow, Opposite Maheshvari Bhavan, City Light Area, Surat – 395001, Gujarat, India
Tel No.:	91-2637-272060/ 62/ 272094
Fax No.:	91-2637-272240/ 272062
Email :	info@yashrasayan.com ritesh@yashsasayan.com info@hleengineer.com info@hlengineers.com yashashvirasayan@rediffmail.com
Website :	http://www.yashrasayan.com
Location :	Owned
Factory 1 :	Plot No.140, A/4, Maroli Udyog Nagar, Via Maroli Bazar, District Navsari – 396436, Gujarat, India
Administrative Office/ Factory 2 :	A-6, Maroli Udyognagar, Post. Maroli – 396436, Distrust Navsari, Gujarat, India
Tel No.:	91 2637 272060/ 272062
Fax No.:	91 2637 272240
Email :	info@yashrasayan.com info@hlengineers.com
Factory 3:	B-1/B-4, Maroli Udyog Nagar, Post Maroli Bazar, District Navsari, Gujarat, India
Tel. No.:	91-2637-272060/ 62
Fax No.:	91-2637-272240
Area :	Owned

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Nilesh Khushalbhai Patel
Designation :	Director
Address :	703, Sahil Apartment, Opposite Railway Station, Navsari - 396445, Gujarat, India
Date of Birth/ Age :	24.07.1961
Qualification :	MSC in Chemicals
Date of Appointment :	09.01.2003
Name :	Mr. Harsh Himanshu Patel
Designation :	Director
Address :	703, Sahil Apartment, Opposite Railway Station, Navsari - 396445, Gujarat, India
Date of Birth/ Age :	09.09.1977
Qualification :	BE, MBA
Date of Appointment :	09.01.2003
Name :	Mr. Himanshu Patel
Designation :	Director

KEY EXECUTIVES

Name :	Mr. Divesh
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Equity Shareholders	No. of Shares
Nilesh Khushali Patel	2250028
Harsh Himanshu Patel	949961
Kantilal M Patel	1
Sheetal Patel	1
Himanshu Khushalbhai Patel	800001
Naginbhai P Patel	1
Vishal H Patel	1
Aalap N. Patel	1
Deviben B. Patel	1
Dr. K. H. Patel	1
Kishon N Patel	1
Shantilal M. Patel	1
Swara R Patel	1
Total	4000000

AS ON 30.09.2010

Names of Preference Shareholders	No. of Shares (Preference)
Himanshu Khushalbhai Patel	2302500
Nilesh Khushali Patel	3937500
Harsh H Patel	760000
Total	7000000

AS ON 30.09.2010

Category	Percentage
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of all types of Organic Chemicals.

Products :

Products Description	Item code no.
Parachloro Aniline Hydrochloride	2921 42 11
2,5 Dichloro Aniline	2921 42 13
2,5 Dichloro Phenol	2908 10 00

· 4-Chloroaniline

· P-Chloroaniline

· Dichloroaniline

· Dichlorophenol

· Chlorophenol

· 4-Hydroxy

· Benzonitrile

· 3-Chlorophenol

· Cyanophenol

· 2 - Chloroaniline

Exports :

Products :

All Types of Organic Chemicals

Countries :

· Germany

· Europe

· Switzerland

· USA

· China

Exports :

Products :

Raw Materials

Countries :

China

Terms :

Selling :

L/C, Cash and Credit (60-90 days)

Purchasing :

L/C, Cash and Credit (60 days)

GENERAL INFORMATION

Customers :

End Users and Traders

International

· Ciba Specialty Chemicals - Switzerland.

· Aliachem Syenthesia - Czech Republic

· Euro Labs - U.K.

· BASF - Germany

· Avecia - UKRohner - Switzerland

· CBW – Germany

· 3V-Sigma, - Italy

· Bioguard Limited, - Brazil

· Multichem Marketing CC, South Africa

· White Chemicals - U.K.

 Local

· Nitro Aromatics (A Division of Dipak Nitrite Limited)

· Gharda Chemicals Limited,

· Coloursynth Industries Limited, - Surat

· Atul Limited. - Atul

· Amal Products Limited, - Atul

· Metro Exports

· Cadila Laboratories Limited, Ankleshwar

· Aarti Industries Limited, Vapi

· Dr. Reddy's Laboratories Limited, Hyderabad

· Paks Veterinary Drugs Mfg. Company Limited,

· Ciba Speciality Chemicals Limited, Mumbai

· Colour-Chem Limited, Mumbai

· ICI Limited, Chennai

· Vanavil Dyes and Chemicals Limited, Chennai

· Ansa Chemicals, Mumbai - Merchant Exporter

Suppliers :

· Anushka Chemicals and Drugs Limited

· Baroda Sales Corporation

· Jackodn and Sons

· Jay Bharat Trading Company

· Ketul Chem Private Limited

· Nimit Chemicals

· Niranjan Chemicals

· Panoli Intermediates (India) Private Limited

· Shree Chemicals Industries

· Shree Parshwanth Traders

· Shree Sulphurics Private Limited

· Sunshree Products

· Swastik Steel Corporation

· United Industries

· Vadilal Chemicals Limited

· Val Organics Private Limited

· Yogi Industries

No. of Employees :

500 Approximately

Bankers :

· Bank of India

Near Tower Branch, Navsari – 396445, Gujarat, India

· HDFC Bank

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

· HDFC Bank

Near Tower, Navsari, Navsari – 396445, Gujarat, India

· Bank of Baroda, Ahmedabad

· State Bank of India, Mumbai

Facilities :

SECURED LOAN	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
PCFC – HDFC A/c in Dollar (Secured against stock)	12.322	35.083
PCFC – HDFC A/c in Euro (Secured against stock)	14.075	17.996
HDFC Bank Cash Credit Account	28.336	72.835
HDFC Bank Foreign Currency Loan	8.274	19.307
HDFC Bank Bill Discount A/c	22.966	0.000
HDFC Buyers Credit Loan A/c	6.980	0.000
TOTAL	92.953	145.221
UNSECURED LOAN	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors	87.658	72.828
From Shareholders	154.441	141.354
From Others	0.000	0.049
TOTAL	242.099	214.231

Banking Relations :	--
Auditors :
Name :	C. M. Patel and Associates Chartered Accountant
Address :	3/ 4, “Vasudhara” Parsi Sheri Navapura, Surat – 395003, Gujarat, India
Tel No.:	91-261-6581728/ 6581729 ®
Mobile No.:	91-9825942481
Name :	Hiren M Diwan and Company Chartered Accountant
Address :	43, River Palace Wing A, Beside NAvdi Ovara Nanpura, Surat 395001, Gujarat, India
Tel. Fax :	91-261-2470102 / 2470103 / 3931400
Associates/Subsidiaries :	· Heerasons Chemicals Private Limited A/4, Maroli Udyog Nagar, Post Maroli Bazar, District Navsari, Gujarat, India Line of business : Chemical manufacturing · New Par Aromatics Private Limited A/4, Maroli Udyog Nagar, Post Maroli Bazar, District Navsari, Gujarat, India Line of business : Chemical manufacturing · Heerasans Chemicals · HL Engineers Private Limited · H L Equipment

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- Each	Rs. 40.000 millions
7000000	Preference Shares	Rs.10/- Each	Rs.70.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	Rs.10/- Each	Rs. 40.000 millions
7000000	Preference Shares	Rs.10/- Each	Rs.70.000 millions

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		110.000	110.000	40.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(35.216)	(22.564)	(4.662)
NETWORTH		74.784	87.436	35.338
LOAN FUNDS
1] Secured Loans		92.953	145.221	87.270
2] Unsecured Loans		242.099	214.231	232.958
TOTAL BORROWING		335.052	359.452	320.228
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		409.836	446.888	355.566
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		236.169	237.413	163.736
Capital work-in-progress		0.000	0.000	47.594
INVESTMENT		0.050	0.050	0.050
DEFERREX TAX ASSETS		17.766	5.237	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	101.099	114.463	78.032
	Sundry Debtors	108.925	92.541	134.204
	Cash & Bank Balances	6.558	49.903	10.579
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	55.078	46.913	56.781
Total Current Assets		271.660	303.820	279.596
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	118.850	103.036	133.466
	Current Liabilities	1.180	1.182	1.587
	Provisions	0.000	0.191	0.586
Total Current Liabilities		120.030	104.409	135.639
Net Current Assets		151.630	199.411	143.957
MISCELLANEOUS EXPENSES		4.221	4.777	0.229
TOTAL		409.836	446.888	355.566

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
SALES
	Sales Turnover	440.096	379.030	370.478
	Jobwork Income	13.549	27.229	13.335
	Other Income	10.677	9.792	3.246
	Loss	24.788	21.877	16.540
	TOTAL	489.110	437.928	403.599
EXPENSES
	Manufacturing Expenses	102.160	101.331	105.280
	Cost of Materials	322.809	266.136	269.354
	Purchases made for re-sale	0.000	0.000	0.000
	Increase/(Decrease) in Finished Goods	0.000	0.000	0.000
	Other Expenses	0.494	0.462	0.000
	Directors Remuneration	0.900	1.200	0.000
	Administrative Expenses	29.637	32.995	0.000
	Financial Expenses	7.300	14.310	10.090
	Depreciation	25.810	21.493	16.224
PROFIT / (LOSS) BEFORE TAX		(24.788)	(24.877)	2.649
Less: Prior Year’s Adjustment		0.438	1.068	0.000
PROFIT FOR THE YEAR BEFORE TAX		(25.226)	(22.945)	2.649
Less: Provision for Income Tax
Current Year’s Tax		0.000	0.000	0.000
Fringe Benefit Tax		0.000	0.191	0.135
Add: Deferred Tax Income		12.532	5.234	0.000
PROFIT FOR THE YEAR AFTER TAX		(12.694)	(17.902)	2.514
Add: Adjustment for Taxes		0.042	0.000	0.000
Less: Balance Brought Forward		22.564	4.662	38.608
Add: Impact of Change in Method of Depreciation		0.000	0.000	31.431
BALANCE CARRIED FORWARD TO BALANCE SHEET		(35.216)	(22.564)	(4.663)
EARNINGS IN FOREIGN CURRENCY
	Export Earnings	278.852	215.923	202.301
IMPORTS
	Raw Materials	39.955	112.655	17.960
Earnings Per Share (Rs.)		--	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(2.59)	(4.08)	0.62
Net Profit Margin (PBT/Sales)	(%)	(5.73)	(6.05)	0.71
Return on Total Assets (PBT/Total Assets}	(%)	(4.96)	(4.24)	0.59
Return on Investment (ROI) (PBT/Networth)		(0.33)	(0.26)	0.07
Debt Equity Ratio (Total Liability/Networth)		6.08	5.30	12.90
Current Ratio (Current Asset/Current Liability)		2.26	2.90	2.06

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

RS. In Millions

Particulars	31.03.2010	31.03.2009	31.03.2008
For Goods	96.200	75.734	0.000
For Expenses	22.650	27.302	0.000
Others	0.000	0.000	133.466
Total	118.850	103.036	133.466

NOTE:

The Registered office of the company has been shifted from Plot No.140, A/4, Maroli Udyog Nagar, Via Maroli Bazar, District Navsari – 396436, Gujarat, India, to the present address w.er.f. 25.06.2009.

BUSINESS AFFAIRS AND PROGRESS

The Hong Hong’ble member are requested to consider the performance of the company is not worth of taking any credit for the nonetheless as is rightly said the journey towards the great achievement always commences by one small step. The board intends to point out such small step in the reported results which has got over shadowed by the reported figure of loss. The turnover of the company has increased remarkably during the current year in comparison with the preceding year and that the company has earned positive income of Rs. 1.021 million before depreciation which was not the case in the preceding year. The board is committed to extrapolate this small step into a giant leap in the years to come.

TRADE REFERENCE:

· Colour Tech Private Limited, Surat

· Meghmani Organics Limited, Ahmedabad

· Colour Tex Industries Limited

FORM 8:

Corporate identity number of the company	U24119GJ2003PTC041827
Name of the company	Yashashvi Rasayan Private Limited
Address of the registered office or of the principal place of business in India of the company	Plot No.140, A/4, Maroli Udyog Nagar, Via Maroli Bazar, District Navsari – 396436, Gujarat, India
This form is for	Modification of charge
Type of charge	Immovable Property
Particular of charge holder	HDFC Bank HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India CIN No.:L65920MH1994PLC080618 Email: rbbform8@hdfcbank.com
Nature of instrument creating charge	Memorandum Recording transaction of creation of Equitable Mortgage by Deposit of Title Deeds by Constructive Delivery.
Date of instrument Creating the charge	05.11.2008
Amount secured by the charge	Rs.321.400 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: Interests at the rate as may be communicated by the Bank from time top time. Terms of Repayment: On Demand Margin: Company shall at all times during the continuance of this security maintain the said debts of a sufficient amount to provide the margin of security as may from time to time advised by the Bank. Extent and Operation of the charge: The company accorded and gave oral consent to Bank continue to hold and the title deeds (by way of constructive delivery) in respect of its immovable properties as mentioned under Item No.14 as security for repayment of Rs.321.400 Millions by the Yashashvi Rasayan Private Limited, HLE Engineers Privcate Limited, H L Equipments, Newpart Aromatics Private Limited, and Heerasons Chemicals Private Limited (the Borrower), including principal, interests, liquidated damages costs, charges and expenses.
Particulars of the property charged	Immovable Property lying and situated at: (1) Plot No.765, R. S. No.96, Paiki – 97, Jhagadia, Bharuch and (2) B/1/4, S. No.200, Nadod Maroli Udyog Nagar, District Navasari.

FORM 8

Corporate identity number of the company	U24119GJ2003PTC041827
Name of the company	YASHASHVI RASAYAN PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Survey No.60/1, Ground Floor, Plot- 1 and 2, Near Shukan Bungalow, Opposite Maheshvari Bhavan, City Light Area, Surat – 395001, Gujarat, India
This form is for	Modification of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	HDFC Bank HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India Email: RBBform8@hdfcbank.com
Nature of instrument creating charge	Supplemental Letter of Hypothecation of Stocks, Book Debts and Machinery.
Date of instrument Creating the charge	09.04.2010
Amount secured by the charge	Rs. 152.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest at the rate as may be communicated by the Bank from time to time. Terms of repayment On Demand Margin As may be stipulated by the Bank from time to time. Extent and operation of the charge Hypothecation by way of First Charge on Company's Stocks, Book Debts and Machinery, etc., to secure as a continuing security as mentioned in Column No.15 below for the repayment of Rs.152.000 millions together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property charged (Including location of the property)	Hypothecation first charge over the Stocks, Book Debts and Machinery of the Company.
Date of instrument modifying the charge	07.08.2008
Particulars of the present modification	The Charge shall now stand increased from Rs.132.000 millions to Rs.152.000 millions, against the security of Stocks, Book Debts and Machinery of the Company.

FIXED ASSETS:

· Land

· Plant and Machinery

· Vehicles

· Furniture and Fixture

· Capital Work in Process

· Building

· Laboratory Equipment

· Road

· Factory Building

· Computer Set

· Office Equipment

· Tools and Equipment

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.45.09
UK Pound	1	Rs.72.82
Euro	1	Rs.63.43

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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
TOTAL		27

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.