|
Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CENTRE FOR DEVELOPMENT OF TELEMATICS |
|
|
|
|
Registered
Office : |
C-Dot Campus, Electronic City, Phase-I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
August, 1984 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3514.165 Millions |
|
|
|
|
Legal Form : |
Organisation |
|
|
|
|
Line of Business
: |
Subject engaged in the design and development of indigenous telecom
technology. |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is the Telecom Technology Research and Development Centre of
the Government of India. It has been a pioneer and a nation builder. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. Subject being a Government of India Centre 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
C-Dot Campus, Electronic City, Phae-I, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Website : |
|
|
|
|
|
Work Office : |
C-DOT, Field Support Centre, CTS |
|
|
|
|
Branches and R and D Labs : |
·
C-Dot Campus,
Mehrauli, Tel No.: 91-11-26802856 Fax No.: 91-11-26803338 ·
C-Dot Campus, Electronic
City, Phase – I, Tel No.:
91-80-28528019 Fax No.:91-80-28528020 · Kolkata C-Dot Field Support Centre, CTS Tel No.: 91-33-24488101 Fax No.: 91-33-24488106 |
C-DOT MANAGEMENT
(AS ON 31.03.2010)
|
Governing Council: |
Chairman Minister
of Communications and IT Vice-Chairman Minister
of State for Communications and IT Members Scientific
Advisor to the Defence Minister Chairman,
Telecom Commission Member
(In-charge C-DOT), Telecom Commission Member
(Finance), Telecom Commission Secretary,
Department of Information Technology Chairman
and Managing Director, BSNL Executive
Director, C-DOT Directors,
C-DOT |
|
|
|
|
Steering Committee: |
Chairman Chairman, Telecom Commission Vice-Chairman Member (In-charge C-DOT), Telecom Commission Members Chairman and Managing Director, ITI Limited Director (Planning), BSNL Sr. DDG, Telecom Engineering Centre DDG (TPF), Department of Telecommunications Sr. Director, Department of Information Technology Executive Director, C-DOT Directors, C-DOT |
|
|
|
|
Project Board: |
Chairman Executive
Director, C-DOT Members Directors,
C-DOT |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the design and development of indigenous telecom
technology. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Canara Bank, 12, Aradhana Enclave Sector-13,
R.K. Puram, ·
Syndicate Bank, Corporate Finance Branch
6, Sarojini House, Bhagwan Dass Road New Delhi-110001, India ·
Canara Bank ·
Central Bank of |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra K. Goel and Company Chartered Accountant |
|
Address : |
J-288, Ground Floor,
Saket, |
CAPITAL STRUCTURE
CORPUS/ CAPITAL FUND
|
PARTICULARS |
|
31.03.2010 (Rs. In Millions) |
|
Grants from Dept. of Electronics (Presently Dept. of Information
Technology) Accumulated
Balance Grants from Dept. of Telecommunication Balance at the
beginning of the year Add: Contributions towards Corpus / Capital Fund during the
year |
335.200 13230.153 1000.000 |
14565.353 |
|
Less: Balance of net expenditure transferred from the Income
and Expenditure Account |
|
11051.188 |
|
|
|
|
|
Total |
|
3514.165 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
CORPUS / CAPITAL
FUND AND LIABILITIES |
|
|
|
|
1] Corpus / Capital Fund |
3514.165 |
3414.544 |
3212.583 |
|
2] Reserves & Surplus |
23.658 |
23.659 |
23.658 |
|
3] Current Assets, Loans & Advances |
339.410 |
434.990 |
409.326 |
|
|
|
|
|
|
TOTAL |
3877.233 |
3873.193 |
3645.567 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1287.167 |
1375.580 |
1476.952 |
|
ASSETS IN TRANSIT |
0.084 |
0.000 |
0.000 |
|
CAPITAL ITEM IN STOCK |
0.000 |
0.000 |
0.000 |
|
Capital work-in-progress |
4.460 |
3.842 |
1.027 |
|
|
|
|
|
|
INVESTMENT – LONG TERM |
520.000 |
520.000 |
520.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES & DEPOSITS |
2065.522 |
1973.771 |
1647.588 |
|
|
|
|
|
|
TOTAL |
3877.234 |
3873.193 |
3645.567 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOT, Royalty, FSR and Publications
|
257.501 |
329.988 |
199.844 |
|
|
|
Interest Earned |
10.826 |
25.815 |
13.222 |
|
|
|
Other Income |
3.808 |
11.075 |
10.928 |
|
|
|
TOTAL |
272.135 |
366.878 |
223.994 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Established Expenses |
683.874 |
623.643 |
471.667 |
|
|
|
Operational Expenses |
137.285 |
272.674 |
108.464 |
|
|
|
Other Administrative Expenses |
154.552 |
152.619 |
128.247 |
|
|
|
Depreciation |
196.242 |
201.943 |
225.829 |
|
|
|
TOTAL |
1171.953 |
1250.879 |
934.207 |
|
|
|
|
|
|
|
|
|
EXCESS
OF EXPENDITURE OVER INCOME FOR THE YEAR |
899.818 |
884.001 |
710.213 |
|
|
|
|
|
|
|
|
|
Add/ Less |
ADJUSTMENT
PERTAINING TO EARLIER YEARS |
0.561 |
4.038 |
(8.745) |
|
|
|
|
|
|
|
|
|
Add |
GRATUITY
PROVIDED FOR |
0.000 |
0.000 |
92.579 |
|
|
|
|
|
|
|
|
|
|
BALANCE BEING
EXCESS OF EXPENDITURE OVER INCOME |
900.379 |
888.039 |
794.048 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS
EXPENDITURE OVER INCOME OF EARLIER YEARS |
10150.809 |
9262.770 |
8468.722 |
|
|
|
|
|
|
|
|
|
|
BALANCE BEING
DEFICIT CARRIED TO CORPUS / CAPITAL FUND |
11051.188 |
10150.809 |
9262.770 |
|
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 |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
No |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
No |
OVERVIEW
C-Dot India’s Premier Telecommunications R and
D Centre, has been a centre, has been a pioneer and a nation builder. Committed
to providing a wide range of cost- effective, indigenously developed and
state-of-the- art total telecom solutions, it has come a long way since its
inception 25 years ago.
C-DOT's
contribution to the rural tele-communications scene in the country is well
known. In the eighties, C-DOT developed rural telecommunication products
ideally suited to Indian conditions. Able to work without air-conditioning, the
C-DOT Rural Automatic Exchanges (RAXs) acquired legendary status for their
ruggedness and reliability. More switching products like SBM RAX for semi-urban
and MAX-L (and later MAX-XL) for urban use followed. 6RU10, a radio product for
rural applications was also developed. All these products were based on
contemporary digital technology.
Starting
from the single mission of providing a dial tone, C-DOT has grown, over the last
25 years, to the level of a national centre for Research and Development of
communication technology in various areas – Broadband Satellite, ATM, DWDM,
GPON, NGN and Mobile Cellular systems. C-DOT's ATM technology has been mandated
for use for onboard communication in Indian Navy ships. The GPON is expected to
play a lead role in bringing broadband pipes to rural
C-DOT
has also been active in the area of providing telecom software solutions.
C-DOT's umbrella NMS (Network Management
System) solutions have made it possible to manage networks with elements from
diverse vendors. The Data Clearing House (CLH) solution of C-DOT is
commercially deployed for reconciling the roaming between BSNL and MTNL and has
created large competitive pressures in the CLH market.
C-DOT
is also entrusted with projects of national importance, like Central Monitoring
System for telecom security and Secure Network for strategic applications.
The
state-of-the-art R&D facilities at C-DOT's
STRATEGIC AND
The
scheme aims at development of strategic solutions for Defence sector and
software intensive applications for enterprise solutions. These solutions,
catering to the requirements of strategic and enterprise segments, will be an
important source of revenue for C-DOT.
Following
are the achievements in respect of the deliverables under this scheme.
Transmission Network Management
System (Tx-NMS)
The
NMS for the management of a vast transmission network comprises of various
network management functions, namely, fault, configuration, accounting,
performance, security (FCAPS) and network provisioning.
C-DOT's
Transmission Network Management solution provides a full-fledged FCAPS solution
that enables transmission network administrators to manage the network from a
central location easily and effectively. Subsequent to successful demonstration
of
Also
during the year, activities were undertaken to
develop IP-NMS solution for the management of data network elements like
switches, routers, CPEs (Customer Premises Equipments). C-DOT IP-NMS solution
will be useful for TSPs, ISPs (Internet Service Providers) as well as Defence
to manage their DCN, MPLS networks, including business campuses. The PoC for
the same has also been demonstrated to Centre for Artificial Intelligence and
Robotics (CAIR), a premier laboratory of DRDO (Defence Research and Development
Organisation). Commercial proposal for undertaking the implementation has also
been submitted to CAIR.
Commercialisation of Data Clearing House (CLH)
application
The Data Clearing House
service is operational, on commercial basis, for reconciling the GSM National
roaming between BSNL and MTNL for the following Zones:
·
BSNL (north and
east zones) with MTNL Delhi,
·
BSNL (north and
east zones) with MTNL Mumbai
These commercial operations on ASP model
continued successfully during FY 2009-2010. BSNL and MTNL, the customers, were
pleased to award Certificates of Satisfaction for the service provided.
In addition, following activities were
carried out for the customers:
o The scope of Data Clearing House services
was extended during Maha Kumbh at Haridwar to include settlement of roaming
charges of BSNL with private operators' subscribers.
o Customized advanced reports were offered to
BSNL and MTNL as per their requests. The same are now being regularly provided
as part of the ongoing ASP operation.
C-DOT's ATM-based system customisation for multiple Defence
applications
On completion of customisation for the 1st ship of CMS-NF at
Support services
are also being provided by C-DOT for three ships of AISDN-17 project at Mumbai.
Secure and
Dedicated Communication Network (SDCN) Network (SDCN)
C-DOT
has developed a fully secure and dedicated network solution for the Government,
Defence and security agencies based on its Next Generation Network technology.
The system is ready for deployment with standard security mechanisms. Support
for custom security mechanisms is being planned.
BUSINESS PROMOTION
ACTIVITIES
Project Agreements have been signed with M/s BEL for
·
Providing support for the first and second ship under AISDN-15A
Project.
·
Providing support for the first and second ship under SDN-28
Project.
·
Providing support for the first ship under CAIO-P17 Project.
·
'Timestamping Feature Development' as per the BEL's requirement.
C-DOT,
in partnership with M/s Lambda Microwave Technologies, participated in a BSNL
tender for Supply, Installation, Operation and AMC of BTS sites Infra status
and Alarm Management System (AMS).
Purchase Order received from BSNL for supply of
additional PI308 cards at two locations to increase the traffic handling
capacity of the already deployed Missed Call Alert Systems supplied by C-DOT.
C-DOT continues to provide Data Clearing House
Services for GSM Roaming on ASP model between North and East Zones of BSNL and
MTNL,
Field support for MAX
and IN continues to be provided.
CONTINGENT LIABILITIES NOT PROVIDED FOR
a.
On account of unexpired letters of credit issued by
bankers in respect of purchase orders for Components and Equipment Rs. 6.814
Millions as on 31.03.2010.
b.
On account of Bank Guarantees given by / on behalf
of the centre Rs. 5.165 Millions as on 31.03.2010
c.
On account of Income Tax for the Assessment Years
2006-07 and 2007-08 Rs.212.867 Millions as on 31.03.2010. In this regard, the
centre is advised by external legal opinion that the demands of tax for the
years, arising due to the denial of the benefits of Section 35(I) (ii) read
with Section 10(21) of the Income Tax Act, 1961 in the Centre's case by the Tax
authorities will be reversed and decided in favour of the centre at the higher
appellate levels. Therefore, no provision is considered necessary on account of
such tax demands, in making these accounts.
d.
On account of Service Tax Nil
e.
Additional amount indicated by Government as
payable for the Land & Buildings at
FIXED ASSETS
· Land Freehold
· Building Office
· Building Residential
· R and D Equipment
· R and D Computer
· Office Equipments and Appliances
· Furniture and Fittings
· Library Books
WEBSITE DETAILS:
HISTORY
The Centre for Development of Telematics
(C-DOT)
is the Telecom Technology development centre of the Government of India. It was
established in August 1984 as an autonomous body. It was vested with full
authority and total flexibility to develop state-of-the-art telecommunication
technology to meet the needs of the Indian telecommunication network. The key
objective was to build a centre for excellence in the area of telecom
technology.
In the initial years, C-DOT triggered a telecom revolution in the rural
Within a very short span of time, telecom switching products ideally suited to
Indian conditions started revolutionizing rural telecommunication in
Nearly 50% of present fixed line infrastructure, after allowing MNCs entry into
the Telecom Market is from C-DOT technology and that in itself is a testimony
to the Centre achieving its objectives fully. That C-DOT engineers have been
striving to add value through regular up gradation to the fixed line
infrastructure is a tribute to the commitment of C-DOTians to the original
cause.
Beginning the journey with digital switching systems, C-DOT has transverse the
complex Telecom landscape, developing products in the area of optical,
satellite and wireless communication from circuit switching technology of
yester years, C-DOT has proven its expertise in ATM and Next Generation
Networks. From a purely hardware development Centre it has diversified into
development of Telecom software solutions like IN, NMS, Data Clearing House
etc. and has journeyed from a protected environment of closed market to an open
and competitive market.
While developing the RAX/MAX digital switches, C-DOT also evolved processes and
procedures for manufacturing the switches in the Indian Telecom Factories and
facilitated setting up of a strong Indian Manufacturing and quality vendor
base. Comprehensive methods for transfer of the Digital Switching Technology
were evolved for smooth transfer of the R&D products. C-DOT’s pool of
talented engineers are sought after by many Telecom companies, including MNCs
for the valuable expertise they gain by working on cutting edge technologies in
the state-of-art laboratories of C-DOT. Over the years, C-DOT has come to be
looked upon as a Centre of Excellence in Telecom; projects of National
importance, such as Central Monitoring Systems for Telecom Security, are
entrusted to C-DOT, by the Indian Government.
C-DOT has evolved, from a single mission oriented organization to an R&D
centre, working on several important, cutting edge technologies. And, with the
support it has been receiving from the Government, especially in Projects of
National Importance, the Centre will strive to maintain its National relevance.
CURRENT FOCUS
C-DOT has realigned its efforts and defined its
roadmap with a focus in the four major directions keeping in view the relevance
and need in the present scenario. The major developmental schemes in these
directions, for the 11th five year plan period are:
Projects of national and strategic importance for the following sectors:
a.
Rural Areas: The shared GSM Radio Access Network,
which is currently under development, will give a fillip to business in rural
b.
North Eastern Region: The MAX-NG programme will
breathe fresh life into the fixed line infrastructure and bring to people of
NER, VoIP and Broadband services.
Projects for software intensive telecom solutions:
a.
NMS, which provides a common umbrella of management
of a network equipped with products from diverse vendors.
b.
Data Clearing House services for roaming based on
ASP model, which has become commercially operational.
Projects in the areas of hi-tech:
a.
Gigabit Optical Passive Network (G-PON) to bring
broadband pipes to homes and SOHOs.
b.
Next Generation Network (NGN) products and
services.
Futuristic study projects:
a.
One Number, which will aim to utilize a unique
number like social security number, for a mobile personal number.
b.
Cognitive Radio
c.
Advanced Optical Network Technology
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.54.55 |
|
|
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.