MIRA INFORM REPORT

Report Date :

24.01.2012

IDENTIFICATION DETAILS

Name :	OTTO PROJECTS PRIVATE LIMITED
Registered Office :	4, Bishoy Lefroy Road, Flat No. 3, Calcutta Mansion, Kolkata – 700020, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.10.2004
Com. Reg. No.:	21-100222
Capital Investment / Paid-up Capital :	Rs.7.500 Millions
CIN No.: [Company Identification No.]	U45309WB2004PTC100222
TAN No.: [Tax Deduction & Collection Account No.]	CALO00990D
PAN No.: [Permanent Account No.]	AAACO7228D
Legal Form :	Private Limited Liability Company
Line of Business :	Service provider for Turnkey projects.
No. of Employees :	12 (Approximately) (In Office) 45 (Approximately) (at Site)

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 50000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered from small 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 – 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

LOCATIONS

Registered/ Corporate Office :	4, Bishoy Lefroy Road, Flat No. 3, Calcutta Mansion, Kolkata – 700020, West Bengal, India
Tel. No.:	91-33-22891577/3257/1393
Fax No.:	91-33-22891576
E-Mail :	ottoprojects@vsnl.net
Website :	www.ottoprojects.com
Branches :
Delhi Office :	45, Abhishek Complex, Hauz Khas Village, New Delhi-110016, India
Tel. No.:	91-11-26850674/26532437
Fax No.:	91-11-26965823
Jamshedpur :	Benville Contractor Area No.3Near Regent Hotel, Bistupur, Jamshedpur/Jharkhand, India
Tel. No.:	91-657-2223527/3528
Site Office :	Located at : · Durgapur · Burnpur/Asansol · West Bengal · Haldia

DIRECTORS

As on 28.09.2011

Name :

Mr. Gautam Gangopadhyay

Designation :

Director

Address :

181/1, Canal Street, Sreebhumi, Lake Town, Kolkata-700048, West Bengal, India

Date of Birth/Age :

20.09.1957

Date of Appointment :

20.10.2004

DIN No.:

00761395

Name :

Mr. Vivek Bhaskaran

Designation :

Director

Address :

16/2, Raja Santosh Road, Alipore, Kolkata-700027, West Bengal, India

Date of Birth/Age :

30.05.1972

Date of Appointment :

20.10.2004

DIN No.:

00771770

Other Directorship :

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
U45202WB1997PTC085728	Virama Enterprises Private Limited	Director	20/10/1997	20/10/1997	-	Active	YES
U51494WB1993PTC060835	Ujjwal Viiniimay Private Limited	Director	24/01/1998	24/01/1998	-	Active	YES
U51494WB1993PTC060897	Pratyush Vinimay Private Limited	Director	24/01/1998	24/01/1998	-	Active	YES
U45309WB2004PTC100222	Otto Projects Private Limited	Director	20/10/2004	20/10/2004	-	Active	NO

Name :

Mr. Muzaffar Shah

Designation :

Director

Address :

The Icon Apartments, B-193, DLF Phase 5l, Gurgaon-122009, Haryana, India

Date of Birth/Age :

11.08.1956

Date of Appointment :

20.10.2004

DIN No.:

01059203

Other Directorship :

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
U10101JK1996PTC001542	Tycoons Industries Private Limited	Director	28/05/1996	28/05/1996	-	Active	NO
U34120JK1996PTC001541	Jamshedpur Linkers Private Limited	Director	28/05/1996	28/05/1996	-	Active	NO
U51399JK1997PTC001620	Bazaraba International Private Limited	Director	27/02/1997	27/02/1997	-	Active	NO
U36911DL1997PLC089004	Future Corporation Limited	Director	11/08/1997	11/08/1997	6/01/1998	Active	NO
U45309WB2004PTC100222	Otto Projects Private Limited	Director	20/10/2004	20/10/2004	-	Active	NO
U10200DL2007PTC171333	Optimus Minerals Private Limited	Director	11/12/2007	11/12/2007	-	Active	NO
U74900DL2009PTC195318	Waves Tradecom Private Limited	Director	16/10/2009	16/10/2009	-	Active	NO
U85100DL2010NPL204843	G M Shah Foundation	Director	28/06/2010	28/06/2010	-	Active	NO

Name :

Mr. Brij Gopal Roy

Designation :

Director

Address :

“Purna Villa”, Flat No. 1B, 68/3A, Purna Das Road, Kolkata-700029, West Bengal, India

Date of Birth/Age :

09.11.1939

Date of Appointment :

20.10.2004

DIN No.:

00771713

Other Directorship :

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
U28999WB1999PTC088786	Witzenmann (India) Private Limited	Director	28/04/2000	28/04/2000	-	Active	NO
U45309WB2004PTC100222	Otto Projects Private Limited	Director	20/10/2004	20/10/2004	-	Active	NO
U74900WB2007FTC117098	Feige Business Advisors India Private Limited	Director	11/07/2007	11/07/2007	23/05/2009	Active	NO
U15410WB2009PTC138509	Berlins Bakery Private Limited	Director	17/09/2009	17/09/2009	-	Strike off	NO
U40102WB2011PTC161491	S.G.N. Technologies India Private Limited	Director	5/04/2011	5/04/2011	-	Active	NO
U41000WB2003PTC097078	Harbauer (India) Private Limited	Additional director	8/04/2011	8/04/2011	-	Active	NO
U51909WB1996PTC078807	Synergy Industrial Services Private Limited	Director	1/11/2011	1/11/2011	-	Active	NO

Name :

Mr. Shib Kali Banerjee

Designation :

Director

Address :

5B, Ashoka, 111 Southern Avenue, Kolkata-700029, West Bengal, India

Date of Birth/Age :

05.05.1943

Date of Appointment :

05.05.2008

DIN No.:

00292887

Other Directorship :

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
U34102WB1972PTC028504	Kuju Automobiles Private Limited	Director	1/02/2011	2/09/1972	-	Active	NO
U74999WB1956PTC023113	Dominion Distributors Private Limited	Director	25/02/1975	25/02/1975	-	Active	NO
U10200WB1964PTC026264	North Ramgarh Coal Company Private Limited	Director	14/02/1988	14/02/1988	-	Active	NO
U34120JK1996PTC001541	Jamshedpur Linkers Private Limited	Director	28/05/1996	28/05/1996	-	Active	NO
U10101JK1996PTC001542	Tycoons Industries Private Limited	Managing director	28/05/1996	28/05/1996	-	Active	NO
U45203WB2006PTC111255	SKS Infrastructure Private Limited	Director	11/08/2006	11/08/2006	-	Active	NO
U51399JK1997PTC001620	Bazaraba International Private Limited	Director	29/01/2007	29/01/2007	-	Active	NO
U45309WB2004PTC100222	Otto Projects Private Limited	Director	5/05/2008	5/05/2008	-	Active	NO
U10200DL2007PTC171333	Optimus Minerals Private Limited	Director	31/08/2010	2/03/2010	-	Active	NO
U27310WB2011PTC168431	Tycoons Ferro Alloys Private Limited	Director	11/10/2011	11/10/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
Tycoons Industries Private Limited, India	131000
Virama Enterprises Private Limited, India	125000
Muzaffar Shah	345000
S. K. Banerjee	130000
Vivek Bhaskaran	85000
Nalini Bhaskaran	40000
Gautam Gangopadhyay	52500
Ujjal Pramanik	52500
Brij Gopal Roy	7000
Biswajit Misra	10000
K. O. Ramarajan	10000
Amit Chatterjee	4000
C. Prabhakaran	5000
Sandip Gupta	1500
Tridib Kumar Das	1500
Total	1000000

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2011

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
Bodies corporate	25.60
Directors or relatives of Directors	65.95
Other top fifty shareholders	8.45
Total	100.00

BUSINESS DETAILS

Line of Business :

Service provider for Turnkey projects.

GENERAL INFORMATION

No. of Employees :

12 (Approximately) (In Office)

45 (Approximately) (at Site)

Bankers :

· Syndicate Bank, Camac Street Branch, 26, Shakespeare Sarani, Kolkata – 700017, West Bengal, India

· Canara Bank Limited, Park Streedt Branch, Kolkata-700016, West Bengal, India

· HDFC Bank Limited

Facilities :

Secured Loans	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Overdraft with Syndicate Bank (Against hypothecation of book debts)	2.598	1.402
Overdraft with Canara Bank (Against third party security)	0.646	0.991
From Kotak Mahindra	0.124	0.168
From HDFC Bank	2.196	1.324
From Reliance Capital (Against hypothecation of car)	0.098	0.140
Total	5.662	4.025
Unsecured Loans	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From HDFC Bank	0.273	0.625
From Directors and Shareholders	1.364	0.301
Corporate Loan and Others	4.747	4.294
Total	6.384	5.220

Financial Institute :	Reliance Capital
Banking Relations :	--
Auditors :
Name :	Mr. M K Gupta Chartered Accountant
Address :	53A, Mirza Ghalib Street, Kolkata-700016, West Bengal, India
Tel. No.:	91-33-22292638/ 22296241/ 22290871/ 72
Fax No.:	91-33-22291858
E-Mail :	guptaco55@hotmail.com
PAN.:	AACFG0979M

CAPITAL STRUCTURE

As on 28.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 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		7.500	7.500	5.000
2] Share Application Money		0.430	0.000	0.000
3] Reserves & Surplus		5.167	4.452	3.013
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		13.097	11.952	8.013
LOAN FUNDS
1] Secured Loans		5.662	4.025	0.669
2] Unsecured Loans		6.384	5.220	2.839
TOTAL BORROWING		12.046	9.245	3.508
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		25.143	21.197	11.521
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.289	3.527	1.654
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.266	0.169	0.059
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	13.129	2.262	3.985
	Sundry Debtors	44.279	42.238	22.166
	Cash & Bank Balances	5.065	5.132	3.548
	Other Current Assets	5.227	1.106	0.170
	Loans & Advances	14.827	12.553	6.111
Total Current Assets		82.527	63.291	35.980
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	47.102	30.643	17.797
	Other Current Liabilities	10.719	12.277	6.248
	Provisions	4.118	2.870	2.133
Total Current Liabilities		61.939	45.790	26.178
Net Current Assets		20.588	17.501	9.802
MISCELLANEOUS EXPENSES		0.000	0.000	0.006
TOTAL		25.143	21.197	11.521

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	149.687	107.899	45.099
		Other Income	0.480	0.308	0.155
		TOTAL (A)	150.167	108.207	45.254
Less	EXPENSES
		Cost of Goods Sold	1.361	10.187	1.113
		Contracting Expenses	113.859	73.989	27.097
		Freight Inward	1.145	0.000	0.000
		Salary and Wages	13.548	9.664	7.852
		Company’s Contribution to P.F.	1.966	0.585	0.501
		Directors’ Fees	0.018	0.008	0.016
		Staff Welfare	0.309	0.184	0.080
		Legal and Consulting Charges	0.358	0.961	0.696
		Rent	1.357	0.591	0.504
		Telephone	0.378	0.359	0.324
		Electricity	0.504	0.437	0.081
		Traveling and Conveyance	3.020	2.000	1.516
		Tools and Consumables	0.061	0.084	0.199
		Car Hire Charges	1.124	0.686	0.575
		Office Maintenance	0.447	0.332	0.186
		Site Office Maintenance	0.105	0.020	0.023
		Repairs and Maintenance- Others	0.447	0.284	0.054
		Car Maintenance	1.244	1.028	0.670
		Car Insurance and Tax	0.113	0.115	0.071
		Other Insurance	0.409	0.288	0.295
		Printing and Stationeries	0.333	0.213	0.196
		Preliminary Expenses written off	0.000	0.006	0.009
		Rates and Taxes	0.009	0.009	0.009
		Insurance for Directors and Executives	0.204	0.255	0.050
		Audit Fees	0.082	0.082	0.066
		Other Expenses	1.473	1.487	0.970
		Bad Debt Written off	0.302	0.005	0.061
		TOTAL (B)	144.176	103.859	43.214
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.991	4.348	2.040
Less	FINANCIAL EXPENSES (D)		2.546	1.390	0.827
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.445	2.958	1.213
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.069	0.873	0.494
	PROFIT BEFORE TAX (E-F) (G)		2.376	2.085	0.719
Less	TAX (H)		0.795	0.646	0.438
	PROFIT AFTER TAX (G-H) (I)		1.581	1.439	0.281
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		4.452	3.013	2.732
	BALANCE CARRIED TO THE B/S		6.033	4.452	3.013
	Earnings Per Share (Rs.)		2.11	1.92	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.05	1.33	0.62
Net Profit Margin (PBT/Sales)	(%)	1.59	1.93	1.59
Return on Total Assets (PBT/Total Assets}	(%)	2.74	3.12	1.91
Return on Investment (ROI) (PBT/Networth)		0.18	0.17	0.09
Debt Equity Ratio (Total Liability/Networth)		5.65	4.60	3.70
Current Ratio (Current Asset/Current Liability)		1.33	1.38	1.37

LOCAL AGENCY FURTHER INFORMATION

Business Performance and Prospects

Turnover during the period had been Rs. 163.296 Millions and Profit Before Tax Rs. 2.376 Millions, as compared to the last year's turnover and profit of Rs. 110.470 Millions and Rs. 2.085 Millions respectively. Unexecuted orders in hand, as at 31'' March, 2011 totaled Rs.185.900 Millions. Orders expected to be received during the current financial year will be in the range of Rs. 200.000-250.000 Millions.

There is an increase in absolute terms in profits for the year under reference. The margins, however, have come down due to increase in the cost of inputs. All efforts have been made to increase productivity and efficiency to minimize the impact in the increase of input costs.

FORM 8

Corporate identity number of the company	U45309WB2004PTC100222
Name of the company	OTTO PROJECTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	4, Bishoy Lefroy Road, Flat No 3, Calcutta Mansion, Kolkata – 700020, West Bengal, India Email Id : ottoprojects@vsnl.net
This form is for	Creation of charge
Type of charge	Book debts Floating charge
Particular of charge holder	Syndicate Bank, Camac Street Branch, 26, Shakespeare Sarani, Kolkata – 700017, West Bengal, India Email Id : wb.9591kolcamacst@syndicatebank.co.in
Nature of instrument creating charge	Composite Hypothecation Agreement dated 28.09.2010 Omnibus Counter Guarantee dated 28.09.2010 Sanction Letter dated 21.09.2010 Board Resolution dated 22.09.2010
Date of instrument Creating the charge	28.09.2010
Amount secured by the charge	Rs.18.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest SOD:- Base Rate + 4.00%, i.e. 12.25% p.a.(presently) with monthly rests BG Commission:- As per rules Terms of repayment Repayable on demand Margin SOD:- 50% on Debtors BG :- 25% on Cash Margin Extent and operation of the charge The charge shall operate as first charge on Book debts. To the extent of the overall limit of Rs. 18.000 Millions [SOD:- Rs. 3.000 Millions and BG:- Rs. 15.000 Millions] excluding interest, commission and other charges. The charge will operate till the limit enjoyed by the borrower company is fully repaid
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation by way of first charge on all the present and future Book debts, outstanding, monies receivables, claims, bills, contacts, investment etc. of the company

Fixed Assets

· Furniture and Fixture

· Refrigerator and Airconditoners

· Computer

· Plant and Machinery

· Motor Car

· Private Automatic Telephone

· Phone

· Office Equipments

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.50.24
UK Pound	1	Rs.78.13
Euro	1	Rs.64.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		32

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.