MIRA INFORM REPORT

Report Date :

24.11.2011

IDENTIFICATION DETAILS

Name :	SAKKU SPINNING MILLS LIMITED
Registered Office :	D. No.5-87-39/1, Near Nayar Hotel, Lakshmipuram Main Road, Guntar – 522006, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	01.02.2006
Com. Reg. No.:	01-048959
Capital Investment / Paid-up Capital :	Rs.90.970 Millions
CIN No.: [Company Identification No.]	U18100AP2006PLC048959
TAN No.: [Tax Deduction & Collection Account No.]	HYDS17998B
PAN No.: [Permanent Account No.]	AAJCS1686M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Cotton Yarn
No. of Employees :	120 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 630000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some dip in the profitability of the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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. Venkataratnam
Designation :	Accountant
Contact No.:	91-9985360999
Date :	23.11.2011

LOCATIONS

Registered Office :	D. No.5-87-39/1, Near Nayar Hotel, Lakshmipuram Main Road, Guntar – 522006, Andhra Pradesh, India
Tel. No.:	91-863-2251053
Mobile No.:	91-9985360999 (Mr. Venkataratnam)
Fax No.:	91-863-2250063
E-Mail :	csguntur@gmail.com admin@sakkuspinningmills.com statmgr@venkartramapoultries.com dsc_director@rediffmail.com
Website :	http://www.sakkuspinningmills.com http://www.sakkugroup.com
Location :	Owned
Factory :	Chinakondrupadu, NH – 5, Guntur – 522002, Andhra Pradesh, India

DIRECTORS

(AS ON 29.09.2011)

Name :

Mr. Venkata Rao Paruchuri

Designation :

Managing Director

Address :

D. No.5-60/2-49, 4/5, Ashok Nagar, Guntur – 522002, Andhra Pradesh, India

Date of Birth/Age :

01.07.1949

Date of Appointment :

01.02.2006

DIN No.:

00084057

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U01222AP1995PLC019290	VENKATRAMA POULTRIES LIMITED	Managing director	2/2/1995	2/2/1995	-	Active	NO
2	U63011AP1999PTC031571	VENKATRAMA WAREHOUSES PRIVATE LIMITED	Director	23/04/1999	23/04/1999	17/11/2009	Active	NO
3	U01222AP1988PTC009403	KISHORE POULTRIES PRIVATE LIMITED	Director	24/02/2002	24/02/2002	-	Active	NO
4	U01222AP1988PTC009402	SREE GAJALAKSHIMI POULTRY PRIVATE LIMITED	Director	24/02/2002	24/02/2002	-	Active	NO
5	U01222AP1988PTC009401	SREE SHIVASHAKTHI POULTRIES PRIVATE LIMITED	Director	24/02/2002	24/02/2002	-	Active	NO
6	U01222AP1988PTC009412	KALYANACHAKRAVARTHY POULTRY COMPLEX PRIVATE LIMITED	Director	24/02/2002	24/02/2002	-	Active	NO
7	U18100AP2006PLC048959	SAKKU SPINNING MILLS LIMITED	Managing director	1/2/2006	1/2/2006	-	Active	NO
8	U01119AP2009PTC064350	SAKKU HATCHERIES PRIVATE LIMITED	Director	13/07/2009	13/07/2009	5/6/2010	Active	NO
9	U01119AP2010PLC071237	RADHA SAKKU AGRO FARMS LIMITED	Additional director	18/11/2010	18/11/2010	10/1/2011	Active	NO

Name :

Mr. Dharma Teja Paruchuri

Designation :

Director

Address :

D. No.5-60/2-49, 4/5, Ashok Nagar, Guntur – 522002, Andhra Pradesh, India

Date of Birth/Age :

22.08.1969

Date of Appointment :

01.02.2006

DIN No.:

00084033

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U01222AP1995PLC019290	VENKATRAMA POULTRIES LIMITED	Director	2/2/1995	2/2/1995	Active	NO
2	U63011AP1999PTC031571	VENKATRAMA WAREHOUSES PRIVATE LIMITED	Director	1/3/2010	23/04/1999	Active	NO
3	U01222AP1988PTC009403	KISHORE POULTRIES PRIVATE LIMITED	Director	24/02/2002	24/02/2002	Active	NO
4	U01222AP1988PTC009402	SREE GAJALAKSHIMI POULTRY PRIVATE LIMITED	Director	24/02/2002	24/02/2002	Active	NO
5	U01222AP1988PTC009401	SREE SHIVASHAKTHI POULTRIES PRIVATE LIMITED	Director	24/02/2002	24/02/2002	Active	NO
6	U01222AP1988PTC009412	KALYANACHAKRAVARTHY POULTRY COMPLEX PRIVATE LIMITED	Director	24/02/2002	24/02/2002	Active	NO
7	U18100AP2006PLC048959	SAKKU SPINNING MILLS LIMITED	Director	1/2/2006	1/2/2006	Active	NO
8	U01119AP2009PTC064350	SAKKU HATCHERIES PRIVATE LIMITED	Managing director	1/6/2010	13/07/2009	Active	NO
9	U45200AP2009PTC066330	SAKKU PROPERTIES PRIVATE LIMITED	Director	16/12/2009	16/12/2009	Active	NO
10	U01119AP2010PLC071237	RADHA SAKKU AGRO FARMS LIMITED	Director	16/11/2010	16/11/2010	Active	NO

Name :

Mr. Madhu Konark Paruchuri

Designation :

Director

Address :

D. No.5-60/2-49, 4/5, Ashok Nagar, Guntur – 522002, Andhra Pradesh, India

Date of Birth/Age :

16.08.1972

Date of Appointment :

01.02.2006

DIN No.:

00084067

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U01222AP1995PLC019290	VENKATRAMA POULTRIES LIMITED	Director	2/2/1995	2/2/1995	Active	NO
2	U63011AP1999PTC031571	VENKATRAMA WAREHOUSES PRIVATE LIMITED	Managing director	1/3/2010	23/04/1999	Active	NO
3	U18100AP2006PLC048959	SAKKU SPINNING MILLS LIMITED	Director	1/2/2006	1/2/2006	Active	NO
4	U45200AP2009PTC066330	SAKKU PROPERTIES PRIVATE LIMITED	Managing director	1/3/2010	16/12/2009	Active	NO
5	U01119AP2010PLC071237	RADHA SAKKU AGRO FARMS LIMITED	Managing director	18/07/2011	16/11/2010	Active	NO

Name :

Mrs. Madhavi Latha Muthavarapu

Designation :

Director

Address :

D. No.5-60/2-49, 4/5, Ashok Nagar, Guntur – 522002, Andhra Pradesh, India

Date of Birth/Age :

03.12.1968

Date of Appointment :

01.02.2006

DIN No.:

00084075

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U01222AP1995PLC019290	VENKATRAMA POULTRIES LIMITED	Director	2/2/1995	2/2/1995	Active	NO
2	U18100AP2006PLC048959	SAKKU SPINNING MILLS LIMITED	Director	1/2/2006	1/2/2006	Active	NO

KEY EXECUTIVES

Name :	Mr. Venkataratnam
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2011)

Names of Shareholders	No. of Shares
P. Lakshmi Tulasi	17500
Dharma Teja Paruchuri	10300
P. Dakshayani	15300
Madhu Konark Paruchuri	12300
P. Ragathi	9300
P. Radha Sakkubai	114300
Venkata Rama Poultries Limited, India	154500
Venkata Rao Paruchuri	6300
Venkaiah Chowdary Muthavarapu	6300
Madhavi Latha Muthavarapu	13300
Gajalakshmi Poultried Private Limited, India	6800
Kishore Poultried Private Limited, India	6800
Siva Shakthi Poultried Private Limited, India	6800
Kalyana Chakravarthi Poultry Complex Private Limited, India	6500
Gandhamaneni Vinai Prasad	5000
Gandhmaneni Sandhya	4000
Mamidi Damodaram	1450
Alladi Nageswara Rao	1450
Peddi Srinivasa Rao	1450
Katta Srinivasa Rao	1450
Pentyala Venkateswara Rao	1450
Puttu Ramudu	1450

(AS ON 30.09.2011)

Equity Shares Break-up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Cotton Yarn
Exports :
Products :	Cotton Yarn
Countries :	Pakistan
Terms :
Selling :	L/C, Cash and Credit (30-60 days)
Purchasing :	Cash and Credit (30-60 days)

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

120 (Approximately)

Bankers :

· Andhra Bank

Main Branch, Gowri Shankar Theatre Road, Guntur – 522001, Andhra Pradesh, India

· Indian Overseas Bank

Chandra Mouli Nagar Branch

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
IOB Term Loan (Rupee Term Loans)	255.107	162.325
IOB – OCC (Working Capital Loans)	135.632	58.635
Total	390.739	220.960

Banking Relations :	--
Auditors :
Name :	Punnaiah and Company Chartered Accountants
Address :	“Uday”, 5-87-129, Main Road, Lakshmipuram, Guntur – 522007, Andhra Pradesh, India
Tel No.:	91-863-2232354/ 2234354/ (R) 2350354/ 2350355
Mobile No.:	91-9848132354
PAN No.:	AAEFP9877E
Group Companies :	· Sakku Hatcheries Private Limited · Venkatrama Poultries Limited · Sukku International · Paruchuri Cotton Products

CAPITAL STRUCTURE

(AS ON 29.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.100/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
909700	Equity Share	Rs.100/- each	Rs.90.970 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		90.970	85.230	85.230
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		66.689	34.837	0.000
4] (Accumulated Losses)		0.000	0.000	(18.405)
NETWORTH		157.659	120.067	66.825
LOAN FUNDS
1] Secured Loans		390.739	220.960	217.853
2] Unsecured Loans		0.000	0.000	2.050
TOTAL BORROWING		390.739	220.960	219.903
DEFERRED TAX LIABILITIES		6.779	25.239	23.509
TOTAL		555.177	366.266	310.237
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		169.024	240.795	246.934
Capital work-in-progress		77.301	5.964	0.000
INVESTMENT		2.000	2.000	0.335
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	162.161	79.220	33.728
	Sundry Debtors	33.912	12.531	11.607
	Cash & Bank Balances	3.735	3.525	0.533
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	138.324	50.135	26.657
Total Current Assets		338.132	145.411	72.525
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	24.415	11.112	6.164
	Other Current Liabilities	6.953	16.971	3.661
	Provisions	0.000	0.000	0.000
Total Current Liabilities		31.368	28.083	9.825
Net Current Assets		306.764	117.328	62.700
MISCELLANEOUS EXPENSES		0.088	0.179	0.268
TOTAL		555.177	366.266	310.237

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	502.951	366.437	253.180
		Other Income	4.095	1.954	1.142
		TOTAL (A)	507.046	368.391	254.322
Less	EXPENSES
		Accreation/ Decreation of Stock		(11.751)	17.858
		Raw Materials Consumption		230.857	140.629
		Staff Expenses	407.418	7.761	9.216
		Manufacturing, Selling and Administrative Expenses		55.712	51.715
		TOTAL (B)	407.418	282.579	219.418
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		99.628	85.812	34.904
Less	FINANCIAL EXPENSES (D)		19.185	17.951	19.505
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		80.443	67.861	15.399
Less/ Add	DEPRECIATION/ AMORTISATION (F)		75.800	12.889	12.330
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		4.643	54.972	3.069
Less	TAX (H)		(4.250)	1.730	7.162
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		8.893	53.242	(4.093)
	Earnings/ (Loss) Per Share (Rs.)		9.78	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.75	14.45	(1.61)
Net Profit Margin (PBT/Sales)	(%)	0.92	15.00	1.21
Return on Total Assets (PBT/Total Assets}	(%)	0.92	14.23	0.96
Return on Investment (ROI) (PBT/Networth)		0.03	0.46	0.05
Debt Equity Ratio (Total Liability/Networth)		2.68	2.07	3.44
Current Ratio (Current Asset/Current Liability)		10.78	5.18	7.38

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	--------
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last two years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	--------
Estimation for coming financial year	No
Capital in the business	No
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	Yes
Export/ Imports Details (If applicable)	Yes
Market Information	--------
Litigations that the firm/ Promoters Involved in	--------
Banking details	Yes
Banking Facility Details	--------
Conduct of the Banking Account	--------
Buyer visit details	--------
Financials, if provided	No
Incorporation details is applicable	--------
Last Accounts filed at ROC	--------
Major Shareholders, if available	--------

REVIEW OF OPERATIONS:

The company has achieved turnover of Rs.502.951 Millions as against Rs.366.437 Millions in previous year 2009-10, i.e. turnover increased by 37.25%, The profit before depreciation and Interests is Rs.99.628 Millions as against Rs.85.812 Millions during previous year 2009-10, They hope profit will increased further in coming year also.

FORM 8:

Corporate identity number of the company	U18100AP2006PLC048959
Name of the company	SAKKU SPINNING MILLS LIMITED
Address of the registered office or of the principal place of business in India of the company	D.No.5-60/2-49, 4/5, Ashok Nagar, Guntur – 522002, Andhra Pradesh, India ksrao21@gmail.com
This form is for	Creation of charge
Type of charge	Immovable property Any interest in immovable property Book Debts Movable property (not being pledge)
Particular of charge holder	Andhra Bank Main Branch, Gowri Shankar Theatre Road, Guntur – 522001, Andhra Pradesh, India bmgtr150@andhrabank.co.in
Nature of instrument creating charge	1. Memorandum of Deposit of Title Deeds 2. Common Term Loan Agreement 3. Inter Se Agreement 4. Joint Deed of Hypothecation
Date of instrument Creating the charge	17.01.2011
Amount secured by the charge	Rs.861.000 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interests: AB: Base Rate 9 +3.50+0.25(TP) = presently 12.75% p.a. IOB: Base Rate 9+3.75% = presently 12.75% p.a. Terms of Repayment: AB: Repayable in 36 Quarterly graded Installments as per repayment schedule given in the common Term Loan agreement IOB: Repayable in 36 Quarterly graded Installments as per repayment schedule given in the common Term Loan agreement Margin: AB: TL and BG: 25% IOB: TL: 25% on the total project cost BG: 25% LC (Sub-limit of TL): 20% Extent and Operations of the Charge: First Charge on all fixed assets including Land measuring AC 8.43 Cents of phase II of spinning unit and immovable property of vacant site measuring AC 8.73 Cents in Nadimpalem, Prathipadu Sub division, Guntur Dist and buildings to be constructed thereon and plant and machinery to be erected therein on paripassu with Indian Overseas Bank, Guntur. (The title deeds of the above said properties were deposited with IOB, Guntur)
Particulars of the property charged	EM of land measuring AC 8.43 Cents of phase II of spinning unit and immovable property of vacant site measuring AC 8.73 Cents in Nadimpalem, Prathipadu Sub division, Guntur Dist and Buildings to be constructed thereon and plant and machinery to be erected therein on paripassu with Indian Overseas Bank, Guntur

FIXED ASSETS:

· Land

· Vehicles

· Computers

· Furniture

· Canteen Equipments

· Factory Building

· Plant and Machinery

· Electrical Equipments

GROUP PROFILE:

Sakku group is a family owned professionally operated premier organization in poultry sector established in the year 1979. Since its inception, it has been a long successful saga of accomplishments and enhancements, eventually evolving itself as the largest producer of eggs in India, off late it has diversified into textiles, power and breeding operations. At Sakku group each member plays a different but collaborative role to develop our organization into a world class productivity centre by engaging the innovative minds to work with challenging tasks.

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.52.10
UK Pound	1	Rs.81.30
Euro	1	Rs.70.07

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		31

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.