MIRA INFORM REPORT

Report Date :

21.09.2011

IDENTIFICATION DETAILS

Name :	KOMPRESS INDIA PRIVATE LIMITED
Registered Office :	39/ 202, Maryland Corner, T.V. Chioamba Ram Marg, Sion (East), Mumbai – 400 022, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	13.10.1989
Com. Reg. No.:	11-053887
Capital Investment / Paid-up Capital :	Rs.2.500 Millions
CIN No.: [Company Identification No.]	U29190MH1989PTC053887
TAN No.: [Tax Deduction & Collection Account No.]	MUMK12529G MUMK11375A MUMK04315D
PAN No.: [Permanent Account No.]	AAACK1741K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Storage and Material Handling Systems.
No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 121000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an 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 (General Details)

Name :	Mr. Mehul
Designation :	Admin – Vice President
Contact No.:	91-9821120190
Date :	10.09.2011

LOCATIONS

Registered Office/ Head Office :	39/ 202, Maryland Corner, T.V. Chioamba Ram Marg, Sion (East), Mumbai – 400 022, Maharashtra
Tel. No.:	91-22-24090563/ 24078230
Mobile No.:	91-9821120190 (Mr. Mahul)
Fax No.:	91-22-24096832
E-Mail :	hemrajchheda@gmail.com info@kompressindia.com
Website :	http://www.kompressindia.com
Factory 1 :	A-526/52A, T.T.C Industrial Area, MIDC, Mahpae, Navi Mumbai, Maharashtra, India
Area :	Owned
Factory 2 :	80/88, Mehta Industrial Estate, Mumbai, Maharashtra, India
Tel. No.:	91-22-56920728/ 26831092
Fax No.:	91-22-56920728
Area :	Owned
Branch Office :	Located at: v Ahmedabad v Bhopal v Chandigarh v Chennai v Coimbatore v Goa v Hyderabad v Kochi v Nagpur v Noida v Visakhapatnam
International Branch Office :	Vipro Enterprise Limited P.O Box: 37089, Kampala, Uganda
Tel. No.:	+256 752 245 293
E-Mail :	viprouganda@gmail.com

DIRECTORS

As on 30.09.2010

Name :

Mr. Rajesh Chandulal Gandhi

Designation :

Director

Address :

210, Om Jayalaxmi Building, Above SBH, Sion (East), Mumbai – 400 022, Maharashtra, India

Date of Birth/Age :

11.11.1958

Date of Appointment :

13.10.1989

DIN No.:

00541032

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	U29190MH1989PTC053887	Kompress India Private Limited	Director	13-10-89	13-10-89	-	Active	NO
2	U45200MH1998PTC114285	C M Gandhi Construction Private Limited	Director	24-09-98	24-09-98	-	Active	NO

Name :

Mr. Kamlesh Kantilal Shah

Designation :

Director

Address :

266/10, Deepak Building, Above V.G. Paneerdas and Company, Sion (West), Mumbai – 400 022, Maharashtra, India

Date of Birth/Age :

04.12.1960

Date of Appointment :

13.10.1989

DIN No.:

00541069

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	U29190MH1989PTC053887	Kompress India Private Limited	Director	13-10-89	13-10-89	-	Active	NO

Name :

Mrs. Bela Kamlesh Shah

Designation :

Director

Address :

266/10, Deepak Building, Above V G Paneerdas and Company, Sion (West), Mumbai – 400 022, Maharashtra, India

Date of Birth/Age :

02.03.1963

Date of Appointment :

01.04.1990

DIN No.:

00541099

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	U29190MH1989PTC053887	Kompress India Private Limited	Director	01-04-90	01-04-90	-	Active	NO

Name :

Ms. Kinjal Rajesh Gandhi

Designation :

Director

Address :

210, Om Jayalaxmi Building, Above SBH, Sion (East), Mumbai – 400 022, Maharashtra, India

Date of Birth/Age :

02.02.1985

Date of Appointment :

15.04.2005

DIN No.:

01829011

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	U29190MH1989PTC053887	Kompress India Private Limited	Director	15-04-05	15-04-05	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mehul
Designation :	Admin – Vice President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Rajesh Chanulal Gandhi	5000
Shailesh Chandulal Gandhi	2000
Naresh Chandulal Gandhi	2000
Alka Rajesh Gandhi	2500
Renu Naresh Gandhi	1500
Chandulal Manilal Gandhi	1400
Kamlesh Kantilal Shah	5000
Bela Kamlesh Shah	5000
Kinjal Rajesh Gandhi	100
Zeel Rajesh Gandhi	100
Sweni Sailesh Gandhi	100
Purab Sailesh Gandhi	100
Avani Naresh Gandhi	100
Kanchi Naresh Gandhi	100
Total	25000

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Storage and Material Handling Systems.
Products :	v Compactors v Locker Cabinets v Filing Cabinets v Shelving System v Pallet Racking v MHE’s v AS/RS and MLS v AGV’s
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

v ICICI

v HSBC

v Citi

v Thomas Cook

v ABN AMRO

v BNP Paribas

v State Bank of India

v Aditya Birla

v Zee Network

v Sony Entertainment Television

v Jet Airways

v Cipla

v Haldiram’s

v Zydus

v Industrial Development Bank of India

v NSE

v APTECH Limited

v VSNL

No. of Employees :

45 (Approximately)

Bankers :

v State Bank of Hyderabad, Sion Branch, 210 Om Jayalaxmi Building, Mumbai – 400 022, Maharashtra, India

v HDFC Bank Limited, Sion (East), Mumbai, Maharashtra, India

v ICICI Bank Limited

v Oriental Bank of Commerce

v State Bank of India

v Citi Bank

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Kotak Mahindra Primus Limited (Secured against Motor Car)	6.703	0.000
State Bank of Hyderabad (Secured against Motor Car)		0.710
Term Loan – State Bank of Hyderabad (Secured against Plant and Machinery)		6.911
Total	6.703	7.621

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors and Share Holders
Kamlesh Shah	18.867	0.860
Bela K. Shah		1.000
Gandhi Finance and Investment Enterprises		3.250
Rajesh C. Gandhi		1.450
From Others
Siligate Solutions Private Limited		5.000
Total	18.867	11.560

Banking Relations :	--
Auditors :
Name :	Ashok Parekh and Company Chartered Accountant
Address :	60/1, Zaver Baug, R.A. Kidwai Road, Matunga (CR), Mumbai – 400 019, Maharashtra, India
Tel. No.:	91-22-24032046
Mobile No.:	91-9820536595
PAN No.:	AACPP3226B

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25000	Equity Shares	Rs.100/- each	Rs.2.500 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		2.500	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		27.654	22.097	15.913
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		30.154	24.597	18.413
LOAN FUNDS
1] Secured Loans		6.703	7.621	6.627
2] Unsecured Loans		18.867	11.560	7.311
TOTAL BORROWING		25.570	19.181	13.938
DEFERRED TAX LIABILITIES		0.309	0.475	0.380
TOTAL		56.033	44.253	32.731
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		16.300	17.175	16.263
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.749	0.704	0.565
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	7.239	20.910	6.013
	Sundry Debtors	78.499	59.276	69.143
	Cash & Bank Balances	7.207	4.152	2.037
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.765	18.574	13.184
Total Current Assets		106.710	102.912	90.377
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	65.107	51.883	47.224
	Other Current Liabilities		19.973	22.125
	Provisions	2.619	4.682	5.125
Total Current Liabilities		67.726	76.538	74.474
Net Current Assets		38.984	26.374	15.903
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		56.033	44.253	32.731

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	183.454	202.076	185.483
		Other Income
		TOTAL	183.454	202.076	185.483
Less	EXPENSES
		Office Expenses	172.700	189.604	171.904
		Administrative Expenses
		Advertising Expenses
		TOTAL	172.700	189.604	171.904
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.754	12.472	13.579
Less/ Add	DEPRECIATION/ AMORTISATION		2.743	2.826	2.448
	PROFIT BEFORE TAX		8.011	9.646	11.131
Less	TAX		2.929	3.540	3.450
	PROFIT AFTER TAX		5.082	6.106	7.681
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		21.680	15.526	8.338
Less	APPROPRIATIONS
		Last year’s deferred tax liability add back	0.474	0.380	0.146
		Proposed Dividend	0.000	0.000	0.375
		Tax on Proposed Dividend	0.000	0.000	0.064
		Transfer to General Reserve	0.030	0.030	0.030
		Fringe Benefit Tax	0.000	0.302	0.170
	BALANCE CARRIED TO THE B/S		27.206	21.680	15.526
	Earnings Per Share (Rs.)		203.28	244.24	307.24

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.77	3.02	4.12
Return on Total Assets (PBT/Total Assets}	(%)	6.51	8.03	10.44
Return on Investment (ROI) (PBT/Networth)		0.27	0.39	0.60
Debt Equity Ratio (Total Liability/Networth)		3.09	3.89	4.80
Current Ratio (Current Asset/Current Liability)		1.58	1.34	1.21

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL RESULTS:

Sales of the Company has registered a decline due to unfavourable market conditions and the Directors expects better result in current year through increase in selling price and turnover.

DEVELOPMENTS:

The company has completed certain prestigious projects during the year. In view of this Director expects better result in the year to come.

FORM 8:

This form is for	Modification of charge
Charge identification number of the modified	90215879
Corporate identity number of the company	U29190MH1989PTC053887
Name of the company	KOMPRESS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	39/ 202, Maryland Corner, T.V. Chioamba Ram Marg, Sion (East), Mumbai – 400 022, Maharashtra, India
Type of charge	Immovable Property Book Debts
Particular of charge holder	State Bank of Hyderabad, Sion Branch, 210 Om Jayalaxmi Building, Mumbai – 400 022, Maharashtra, India E-Mail: sbhsionbom5@vsnl.co.in
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement of Loan for increase in the overall limit. Supplemental Agreement of Hypothecation of Goods Assets for increase in the overall limit Letter regarding the grant of individual limits within the overall limit. Supplemental deed of guarantee for increase in overall limit. Memorandum of deposit for creation of charge for term loan/ overall limit. Memorandum of deposit for creation of further charge for term loan/ overall limit where the initial chare is created by way of mortgage by deposit of title.
Date of instrument Creating the charge	20.11.2006
Amount secured by the charge	Rs.44.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Floating rate 2% below SBH PLR of 11.50% with minimum of 9.50% p.a. with monthly rests. Terms of Repayment Repayable in 75 months including a moratorium period of 9 months @ 0.440 Million per month. The repayment of term loan installment to commence from the 6^th month from the date of commencement of commercial operation or from 01.01.2007 whichever is earlier. Margin Term Loan: 25% Bank Guarantee: 10% Letter of Credit: 15% Extent and Operation of the charge First charge on all current assets of the company. First charge on all fixed assets (existing and proposed) of the company
Short particulars of the property charged	Plot No. 526 and 527, T.T.C. Industrial Area, Mhape, Thane. Flat No. 13 and 14, Bawa Memorial CHSL, Sion (West), Plot No. 108, Sion, Mumbai
Date of latest modification prior to the present modification	31.08.2005
Particulars of the present modification	By the present modification total limit increased from Rs.10.000 millions to Rs.44.000 millions.

Name of the company	KOMPRESS INDIA PRIVATE LIMITED
Presented By	State Bank of Hyderabad and Kompress (India) Limited
1) Date and description of instrument creating the change	Dated 26.03.1999 Agreement of hypothecation of goods and assets
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 2.500 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	The whole of the borrowers stocks, book debts, past and present
4) Gist of the terms and conditions and extent and operation of the charge.	The above goods, debts and assets shall be secured by way of charge on the company property as mentioned in item 3 to cover bank guarantee limit of Rs. 2.500 Millions
5) Name and Address and description of the person entitled to the charge.	State Bank of Hyderabad, Sion Branch, 210 Om Jayalaxmi Building, Mumbai-400022, Maharashtra, India
6) Date and brief description of instrument modifying the charge	Dated 05.03.2003 a. Agreement of loan for overall limit and b. Agreement of hypothecation of goods and assets. (Collectively constitute a single chare for Rs. 5.000 Millions)
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	The original charge created on 26.03.1999 for Rs. 2.500 Millions has been modified and increased to Rs. 5.000 Millions against hypothecation of goods, debts and assets of the borrower. All other terms and conditions shall remain the same.

FIXED ASSETS:

v Air Conditioner

v Compressor

v Computer and Parts

v Electrical Fittings

v Furniture and Fixtures

v Fridge

v Machinery

v Mobile Phone

v Motor Car

v Motor Cycle

v Office Equipments

v Packing Machine

v Time Recorder

v Water Purifier

v Building

v Land

v Stacker

v Motor Lorry

v Tempo Traveller

v Pedestal Fan

v Projector

v Software

WEBSITE DETAILS:

PROFILE:

Subject, one of the Manufacturers and Traders of Sheet Metal Components and Material Handling and Storage Systems, was established in 1989, under the leadership of young entrepreneurs Mr. Rajesh Gandhi and Mr. Kamlesh Shah, who visualized a very modern and useful space saving concept for Indian offices, industries and warehouses.

Since fifteen years, Kompress is dedicated to planning, designing, manufacturing and installing customised Mobile Shelving Systems. The production technology and range of products have been continuously enhanced and refined to suit their customer needs and demands. Kompress now provides tailor-made Total Storage Solutions ranging from the light duty modular shelving systems to the medium duty longspan, all variations of adjustable pallet racking systems (APR), the automated storage and retrieval systems (AS / RS) including the software support, the cantilever racking systems and the live storage systems. Kompress also offers consultancy to help you arrive at the most optimum storage solution.

Kompress has established a reputation as amongst the best quality product manufacturers and an equally efficient service oriented Company. Company's result oriented policies of hard-working with first class workmanship, accuracy and precision have enabled them to win front-line clientele of repute in the shortest possible time amongst a large number of public sector companies, Government Organizations, several foreign and Indian banks apart from various other large and small private firms across the country.

They have been awarded prestigious contracts by the Indian Navy and by companies in the USA and Australia for Air India. Their corporate dossier also includes reputed majors like ONGC, Dept. of Post, HDFC Limited, ICICI Bank Limited, Sony Entertainment, Hindustan Lever,GM India.

MANUFACTURING FACILITIES

Subject has a manufacturing unit at Rabale, MIDC, Navi Mumbai, which is well equipped with highly advanced and sophisticated machines like CNC Turret Punch Press, CNC Hydraulic Press Brake, Shearing machine, metal surface pre-treatment unit, powder coating equipment and oven baking, as well as other sheet metal fabrication machinery of the latest technology. Thus the goals have been set for achieving zero error components in precision sheet metal working.

Subject has a factory building and plant at Rabale having 32,000 Sq.ft. production area, power connection of 160 KVA and adequate water connection. As ours is a complete fabrication work unit, they have evolved, developed and installed in-house facilities for all the operations. In addition, recently they have also installed a metal surface pretreatment, spray painting and powder coating plant.

Subject attaches great importance to upgrading technology continuously which leads to increased productivity and improved quality. They have their RandD section at the same site which is constantly in touch with the latest in technology, which has enabled Kompress to produce electrically operated, computer linked storage systems, Aircraft Docking Systems, Aircraft Landing Gear and Servicing Platforms.

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.48.22
UK Pound	1	Rs.75.63
Euro	1	Rs.65.65

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	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	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		46

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.