MIRA INFORM REPORT

Report Date :

22.06.2012

IDENTIFICATION DETAILS

Name :	CHEMISTRY-PHARMACEUTICAL CENTRE AKRIHIN PUBLIC JOINT STOCK COMPANY
Registered Office :	Kirova str., 29, Staraya Kupavna village, Noginskiy disrict, Moscow region, 142450
Country :	Russian Federation
Financials (as on) :	01.04.2012
Year of Establishment :	1999
Com. Reg. No.:	1025003911570
Legal Form :	OAO (Public Joint Stock Company by Russian Law)
Line of Business :	Manufacture and sales of pharmaceutical preparations.
No. of Employees :	1 336

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Russia	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Comments

Information

The address and the telephone number mentioned in your inquiry belong to the company Otkrytoe aktsyonernoe obschestvo "KHIMIKO-FARMATSEVTICHESKIY KOMBINAT "AKRIKHIN" (name in English: CHEMISTRY-PHARMACEUTICAL CENTRE "AKRIHIN" PUBLIC JOINT STOCK COMPANY) (Short name in English: AKRIKHIN PHARMACEUTICALS CO.). In your inquiry the short name in English of the company is mentioned. The company operates under trading name AKRIKHIN PHARMACEUTICALS CO. We provide the report on this company.

Summary

Original Name	Otkrytoe aktsyonernoe obschestvo "KHIMIKO-FARMATSEVTICHESKIY KOMBINAT "AKRIKHIN"
Legal Form	OAO (Public Joint Stock Company by Russian Law)
Year of Foundation	1999
Sales	1 101 005 th RUR for 3 months, ended 01.04.2012
Employees	1 336 on April, 01, 2012 (official data)

Company Identification Details

Original Name	Otkrytoe aktsyonernoe obschestvo "KHIMIKO-FARMATSEVTICHESKIY KOMBINAT "AKRIKHIN"
Short Name	OAO "AKRIKHIN"
Name in English	"CHEMISTRY-PHARMACEUTICAL CENTRE "AKRIHIN" PUBLIC JOINT STOCK COMPANY
Address	Kirova str., 29, Staraya Kupavna village, Noginskiy disrict, Moscow region, 142450, Russian Federation
Legal Address	Kirova str., 29, Staraya Kupavna village, Noginskiy district, Moscow Region, 142450, Russian Federation
Phone	+7 (495) 7213697, 7213698, 7029503, 7029506, 7029389, 7029513
Fax	+7 (495) 7213697, 7213698, 7029503, 7029338
E-mail	akrihin@akrihin.ru
WEB Address	www.akrihin.ru

Official Company Data

Legal Form	OAO (Public Joint Stock Company by Russian Law)
Date of Registration	09.08.2002
Registration Number	1025003911570
Statistic Code (OKPO)	00480495
Taxpayer Code (INN)	5031013320
Registration Authority	Ministry for Taxes and Duties of Russian Federation Inspection within Noginsk of Moscow region

Public Record Information

Information

The company Otkrytoe aktsyonernoe obschestvo "KHIMIKO-FARMATSEVTICHESKIY KOMBINAT "AKRIKHIN" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

206 525 RUR

Shareholders

Total	1 legal person
Shareholder	ZAKLADY FARMACEUTYCZNE "POLPHARMA" S.A.
Address	Poland
Registration Number	KRS 0000127044
Share	100 %
Comments	The information on the shareholders of the company is presented on 01.04.2012.

Directors

Director	Mr Slob Yan Villem
	Signature Right
Nationality	Honduras
Date of Birth	1954
Executives	Data on 01.04.2012: Board of Directors Chief of Board of Directors - Mr Slob Yan Villem, year of birth 1954 Members of Board of Directors Ms Antonenkova Anastasiya Valer'evna, year of birth 1970 Ms Burmina Tat'yana Yur'evna, year of birth 1956 Mr Tyulyaev Ivan Ivanovich, year of birth 1947 Mr Kutyrov Vladimir Olegovich, year of birth 1967 Mr Iksanov Rustam Munirovich, year of birth 1973 Ms Treus Sof'ya Vladimirovna, year of birth 1956 Mr Chikov Maksim Nikolaevich, year of birth 1966

Re-Registration Data

Initial Registration	24.06.1999
Registration Number	50:16:00633
Registration Authority	Register Chamber of Moscow region
Date of Registration	09.08.2002
	(Entering into the Single State Register of Legal Entities)
Registration Number	1025003911570
Registration Authority	Ministry for Taxes and Duties of Russian Federation Inspection within Noginsk of Moscow region
Date of Re-registration	23.08.2002
File Number	2025003912041
Registration Authority	Ministry for Taxes and Duties of Russian FederationInspection within Noginsk of Moscow region
Changes	Company's Rules
Date of Re-registration	13.01.2003
File Number	2035006100402
Registration Authority	Ministry for Taxes and Duties of Russian FederationInspection within Noginsk of Moscow region
Changes	Company's Rules
Date of Re-registration	20.10.2004
File Number	2045006119200
Registration Authority	Ministry for Taxes and Duties of Russian FederationInspection within Noginsk of Moscow region
Changes	Company's Rules
Date of Re-registration	27.10.2004
File Number	2045006119640
Registration Authority	Ministry for Taxes and Duties of Russian FederationInspection within Noginsk of Moscow region
Changes	Company's Rules
Date of Re-registration	10.03.2005
File Number	2055005905250
Registration Authority	Federal Tax Service of Russian FederationInspection within Noginsk of Moscow region
Changes	Company's Rules
Date of Re-registration	25.01.2006
File Number	2065031005378
Registration Authority	Federal Tax Service of Russian FederationInspection within Noginsk of Moscow region
Changes	Company's Rules
Date of Re-registration	23.05.2008
File Number	2085031026507
Registration Authority	Federal Tax Service of Russian Federation
Changes	Branch
Date of Re-registration	24.02.2009
File Number	2095031008191
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules

Operations

Activities	Manufacture and sales of pharmaceutical preparations. The company operates under trading name AKRIKHIN PHARMACEUTICALS CO.
Staff Employed	1 336 on April, 01, 2012 (official data)
Employees' History	1 312 on January, 01, 2012 (official data) 950 (approx.) on March, 04, 2011 (company's data) 950 (approx.) on February, 25, 2011 (company's data) 942 on October, 01, 2010 (official data) 1 000 (approx.) on April, 22, 2009 (company's data) 961 on October, 01, 2008 (official data) 1 513 on October, 01, 2006 (official data)

Real Estate

Own

Office, industrial area, warehouse Address: Kirova str., 29, Staraya Kupavna village, Noginskiy disrict, Moscow region, 142450, Russian Federation (company's data) The total sum of immovables (lands, buildings, constructions) on 01.01.2006: 290 280 th RUR The total sum of immovables (lands, buildings, constructions) on 01.01.2008: 224 778 667 RUR The total sum of immovables (lands, buildings, constructions) on 01.01.2011: 353 379 207 RUR The total sum of immovables (lands, buildings, constructions) on 01.04.2012: 353 379 207 RUR

Rent

Office Address: Adress: Sibirskiy proezd, 2, bldg. 1, Moscow, Russian Federation (company's data)

Export & Import

Export Countries	2011: Mongolia, Armenia, Azerbaijan, Turkmenistan, Italy 2010: Poland, Mongolia, Ukraine, Armenia, Turkmenia, Azerbaijan, Georgia, India, Germany 2009: Mongolia, Armenia, Macedonia, Azerbaijan, Ukraine 2008: Armenia, Italy, Mongolia, Ukraine, Moldavia, Azerbaijan 2007: Armenia, Mongolia, Moldavia, Azerbaijan, Ukraine 2006: Ukraine, Armenia, Kyrgyzstan, Mongolia, Georgia, Kazakhstan, Macedonia, Yugoslavia 2005: Armenia, Mongolia, Kyrgyzstan, Georgia, Moldavia, Paraguay, Macedonia, Ukraine, Lithuania 2004: Georgia, Kyrgyzstan, Tajikistan, Moldavia, Armenia, Mongolia, Switzerland, Ukraine, Paraguay, Uzbekistan, Macedonia, Yugoslavia, Great Britain
Exported Goods	pharmaceutical preparations
Export Value	in 2011: 427 033 USD in 2010: 578 324 USD in 2009: 430 591 USD in 2008: 1 001 821 USD in 2007: 568 812 USD in 2006: 654 980 USD in 2005: 17 582 267 RUR in 2004: 19 141 389 RUR
Import Countries	2011: Poland, Germany, India, Croatia, China, Ukraine, Hungary, Spain, Moldova, Italy, Great Britain, Switzerland, Lithuania, Belarus, Ireland, Malaysia 2010: Poland, India, Germany, Croatia, China, Ukraine, Slovenia, Spain, Italy, Great Britain, Moldova, Switzerland, Czechia, Malaysia 2009: Poland, India, Croatia, Germany, Italy, Slovenia, China, Great Britain, Ukraine, Spain, Switzerland, Netherlands, Moldova, Finland, Czechia, Malaysia 2008: India, Italy, Germany, Slovenia, Malaysia, Poland, Great Britain, China, Switzerland, Ukraine, Netherlands, Finland, Lithuania, Spain, Croatia 2007: India, Italy, Germany, Slovenia, Poland, Croatia, China, Spain, Switzerland, United Arab Emirates, Great Britain, Israel, Czechia, Ukraine, Netherlands, Finland, Bosnia and Herzegovina, Romania 2006: Italy, Germany Slovenia, Netherlands, India, Great Britain, Iran, China, Spain, Switzerland, Ukraine, Croatia, Czechia, Lithuania, Poland, Hungary, Bosnia and Herzegovina, Romania 2005: Italy, Germany, India, Slovenia, Lithuania, Great Britain, Spain, China, Hungary, Croatia, Ukraine, Austria, Iran, Poland, Switzerland, Latvia, Bosnia and Herzegovina, Romania 2004: Italy, Germany, Great Britain, Slovenia, China, USA, Hungary, Czechia, Netherlands, Ukraine, Luxemburg, Spain, Iran, Switzerland, Slovakia, India, Poland, Croatia, Lithuania, Bosnia and Herzegovina, Latvia and other countries.
Imported Goods	equipment, chemical products, metal products, plastic products, pottery, hardware, spare parts, textile materials
Import Value	in 2011: 53 772 657 USD in 2010: 51 235 125 USD in 2009: 25 733 621 USD in 2008: 7 129 820 USD in 2007: 5 510 048 USD in 2006: 7 852 193 USD in 2005: 162 163 939 RUR in 2004: 196 606 643 RUR

Branches

Branch

The company has representations: Address: Sibirskiy proezd, 2, bldg. 1, Moscow, Russian Federation Address: Karasay batyra str., 88, Almaty, Kazakhstan Address: Bekhtereva str., 7, office 409A, Minsk, 220026, Belarus Address: Amira Temura prosp., 107B, 100084, Uzbekistan Address: Chaykovskaya str., 18, office 12, Almaty, 050004, Kazakhstan Address: Vasil'kovskaya str., 1, office 107, Kiev, Ukraine

Participation

Information

None

Related Companies

Information

The company ZAKLADY FARMACEUTYCZNE "POLPHARMA" is also a shareholder of company OOO "AKRIKHIN FARMA" Registration Number: 1027739465423

Bankers

Bank	OAO "AL'FA-BANK", bank code: 044525593 (Russian Federation)
Account(s)	40702810000000001949 (RUR)
Bank	AKTSIONERNYY KOMMERCHESKIY SBEREGATEL'NYY BANK ROSSIYSKOY FEDERATSII (OAO), bank code: 044525225 (Russian Federation)
Account(s)	40702810240280100105 (RUR)
Bank	ZAO AKB "TSENTROKREDIT", bank code: 044525514 (Russian Federation)
Account(s)	40702810100000004427 (RUR)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	3	12	12	12
Ended	01.04.2012	01.01.2012	01.01.2011	01.01.2010
Currency	RUR	RUR	RUR	RUR
SALES	1101005	6392653	5431519	4273713
Cost of Goods sold	486250	3112858	2719550	1787493
GROSS PROFIT	614755	3279795	2711969	2486220
Distribution Costs	581747	2393871	2244244	1308593
Management Costs	63238	579812	348826	449367
OPERATING PROFIT	-30230	306112	118899	728260
Non Trading Income	1905	56172	236583	-262934
PRE TAX PROFIT	-28325	362284	355482	465326
Taxation		108049	109106	117053
PROFIT AFTER TAX	-28325	254235	258861	355039

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.04.2012	01.01.2012	01.01.2011	01.01.2010
Currency	RUR	RUR	RUR	RUR
TOTAL FIXED ASSETS	953116	913767	662652	522807
Intangible Assets	42352	43652	34574
Fixed Assets	708445	686461	353059	362987
TOTAL CURRENT ASSETS	2654556	3096052	2813293	2516037
Stock	887569	616245	707823	545018
Trade debtors			2025426	1699344
Cash	21266	1233	11932	103142
TOTAL ASSETS	3607672	4009819	3475945	3038844
TOTAL EQUITY	2017578	2047066	1813022	1554161
Share Capital	207	207	207	207
Retained Profits	1797520	1827008	1589605	1330492
TOTAL LONG TERM LIABS	167343	157902	35508	30149
Long Term Loans
TOTAL CURRENT LIABS	1422751	1804851	1627415	1454534
Short Term Loans	234626	338392	316779	248026
Short Term Trade Creditors	1093239	1616247	1233395	1206508
TOTAL EQUITY & LIABS	3607672	4009819	3475945	3038844

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.04.2012	01.01.2012	01.01.2011	01.01.2010
Current Ratio	1,87	1,72	1,73	1,73
Working Capital, x1000 RUR	1231805	1291201	1185878	1061503
Quick Ratio	1,24	1,37	1,29	1,36
Debt to Equity Ratio	0,79	0,96	0,92	0,96
Current Assets Turnover		2,06	1,93	1,7
Total Assets Turnover Ratio		1,59	1,56	1,41
Pre Tax Profit Margin, %		5,67	6,54	10,89
Gross Profit, %		51,31	49,93	58,17
Return on Investment, %		17,7	19,61	29,94
Return on Assets, %		9,03	10,23	15,31

Clients & Suppliers

Clients

OOO VVS-LTD (Ukraine) UNIPHARM LTD. (Armenia) AMANAT LTD. (Kyrgyzstan) TUN ERDENS PHARM TRADE (Mongolia) GI-IMPEX (Georgia) NICOMAC EUROPE SRL (Italy) ZAO "AL'FA-FARMA" (Armenia) OOO "MONOSFARM TREYD" (Mongolia) OOO "VAGA-FARM" (Armenia) ZAO "FIRMA "TSENTR VNEDRENIYA" PROTEK" (Russian Federation) OOO "MORON" (Russian Federation) OOO "INTERKER" (Russian Federation) OOO "TYUNGUR" (Russian Federation) ZAO "ROSTA" (Russian Federation) ZAO "SHREYA KORPOREYSHNL" (Russian Federation) OOO "BIOTEK" (Russian Federation)

Suppliers

KIRSCH PHARMA GMBH (Germany) KINGLAND TRADING COMPANY LTD. (China) IMA INDUSTRIA MACCHINE AUTOMATICHE SPA (Italy) LA FIDUCIARIA S.R.L. (Italy) KRKA D.O.O. (Slovenia) GLATT GMBH (Germany) MULLER GMBH (Germany) ROQUETTE (France) COLORCON CO. (Great Britain) OOO "TRIVIUM-XXI" (Russian Federation) OOO "OVK TREYD" (Russian Federation) OOO "ARKOS PROEKT" (Russian Federation) OOO "VELAZ" (Russian Federation) OOO "SEVERO-ZAPADNAYA POLIGRAFICHESKAYA KOMPANIYA" (Russian Federation) OOO "U-PAK" (Russian Federation) *** The names of foreign partners may be pointed incorrectly as in official documents (declarations) they’re written in Russian. We present our apologies for possible mistakes in transliteration.

Actions at law

The information of Arbitration court of Moscow about judicial claims is presented

Date of registration	09.02.2011
Registration number	A60-3138/11
Plaintiff	ZAO "STRAKHOVAYA GRUPPA "URALSIB"
Defendant	OAO "AKRIKHIN"
Claim sum	-
Claim category	Economic disputes

Date of registration	02.11.2010
Registration number	A41-40020/10
Plaintiff	OOO "NLS EKSPEDITOR"
Defendant	OAO "AKRIKHIN"
Claim sum	-
Claim category	Economic disputes

Date of registration	22.07.2010
Registration number	A41-26855/10
Plaintiff	OAO "AKRIKHIN"
Defendant	OOO "ENERGIYA PLYUS"
Claim sum	3 019 009 RUR
Claim category	Default of obligations under the contract

Date of registration	16.12.2009
Registration number	A41-20087/09
Plaintiff	OAO "AKRIKHIN"
Defendant	ZAO "MEDIFARMSERVIS"
Claim sum	-
Claim category	Economic disputes

Date of registration	18.06.2012
Registration number	A40-79432/2011
Plaintiff	OAO "AKRIKHIN"
Defendant	OAO "VTORMETINVEST"
Claim sum	124 550 RUR
Claim category	Default of obligations under the contract

Date of registration	04.05.2012
Registration number	A41-21818/2012
Plaintiff	OAO "AKRIKHIN"
Defendant	OAO "MOSOBLDORREMSTROY"
Claim sum	20 182 RUR
Claim category	Default of obligations under the contract

Original Financial Data

(Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2011	as at 01.01.2012	as at 01.04.2012
I. NON-CURRENT ASSETS
Intangible assets	110	34574	43652	42352
Fixed assets	120	353059	686461	708445
Construction in progress	130	248641	-	-
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	10	-	-
Deferred tax assets	145	26368	14013	22296
Other non-current assets	150	-	22209	20513
Total section I	190	662652	913767	953116
II. CURRENT ASSETS
Inventories	210	707823	616245	887569
including :
raw materials and other inventories	211	235730	-	-
livestock	212	-	-	-
work in progress	213	62261	-	-
finished goods and goods for resale	214	392318	-	-
goods dispatched	215	-	-	-
expenses related to future periods	216	15979	-	-
other supplies and expenditures	217	1535	-	-
Value added tax on purchased goods	220	65539	3573	6711
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	2471490	1721132
including :
buyers and customers	231	-	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	2025426	-	-
including :
buyers and customers	241	1635499	-	-
Short-term investments	250	2501	-	3859
Monetary assets	260	11932	1233	21266
Other current assets	270	72	3511	4019
Total section II	290	2813293	3096052	2654556
TOTAL SECTIONS I and II	300	3475945	4009819	3607672
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	207	207	207
Treasury shares	411	-	-	-
Additional capital	420	223170	177575	177575
Legal reserve	430	40	40	40
including :
reserves and provisions formed in  accordance with legislation	431	40	-	-
reserves formed in accordance  with foundation documents	432	-	-	-
Retained earnings (loss)	470	1589605	1827008	1797520
Total section III	490	1813022	2047066	2017578
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-	-
Deferred tax liabilities	515	35508	37902	47343
Other non-current liabilities	520	-	120000	120000
Total section IV	590	35508	157902	167343
V. CURRENT LIABILITIES
Borrowings	610	316779	338392	234626
Accounts payable	620	1233395	1616247	1093239
including :
suppliers and contractors	621	1198542	-	-
salaries payable	622	2127	-	-
payable to state non-budget funds	623	6458	-	-
taxes payable	624	5486	-	-
other creditors	625	20782	-	-
Dividends payable to participants (shareholders)	630	-	-	-
Income of future periods	640	-	-	-
Reserves for future expenses and payments	650	77241	-	-
Other current liabilities	660	-	-	-
Total section V	690	1627415	1804851	1422751
TOTAL SECTIONS III,IV,V	700	3475945	4009819	3607672

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.04.2012	01.01.2012	01.01.2011
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	1101005	6392653	5431519
Cost of goods, products, work, services sold	020	486250	3112858	2719550
Gross profit	029	614755	3279795	2711969
Selling expenses	030	581747	2393871	2244244
Administrative expenses	040	63238	579812	348826
Profit (loss) from operations	050	-30230	306112	118899
OTHER INCOME AND EXPENSES
Interest income	060	64	444	4028
Interest expenses	070	6044	16199	14210
Income from investments in other companies	080	-	-	-
Other operating income	090	45384	419515	478456
Other operating expenses	100	37499	347588	231691
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	-28325	362284	355482
Deferred tax assets	141	-	-	17844
Deferred tax liabilities	142	-	-	5359
Current profit tax	150	-	108049	109106
Net profit (loss) for the reporting period	190	-28325	254235	258861

Rates of Exchange

RUR - Russian Rouble	01.01.2011:   1 EUR = 40.49 RUR,   1 USD = 30.35 RUR
EUR - EURO	01.01.2010:   1 EUR = 43.46 RUR,   1 USD = 30.19 RUR
USD - US Dollar	01.01.2009:   1 EUR = 41.43 RUR,   1 USD = 29.39 RUR

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.62
UK Pound	1	Rs.88.45
Euro	1	Rs.71.52

INFORMATION DETAILS

Report Prepared by :

PRL

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 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%)

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.