|
Report Date : |
26.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SRI DEEPT FOILS LIMITED (w.e.f. 23.06.2002) |
|
|
|
|
Formerly Known
As : |
SRI DEEPTI FOILS LIMITED |
|
|
|
|
Registered
Office : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.04.1995 |
|
|
|
|
Com. Reg. No.: |
01-020099 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999AP1995PLC020099 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS18296F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS6436B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging Products |
|
|
|
|
No. of Employees
: |
09 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The turnover
of the company appears to be low. There appears huge accumulated loses in the
records of the company which has reduced slightly during the year 2010. The management of the company has failed to file its financial with
the government departments after the year 2010. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Murlidhar |
|
Designation : |
Director |
|
Contact No.: |
91-9246331325 |
|
Date : |
22.06.2012 |
LOCATIONS
|
Registered Office : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Tel. No.: |
91-40-65561299 |
|
Mobile No.: |
91-9246331325 (Mr. Murlidhar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory: |
Survey No.67, Kachivani, Singaram, Uppal, R. R. Dist., Hyderabad-500
088, Andhra Pradesh, India |
|
Tel. No.: |
91-8418-27617069 |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Kotam Raju Babu Rao |
|
Designation : |
Managing director |
|
Address : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Date of Birth/Age : |
20.01.1951 |
|
Date of Appointment : |
24.04.1995 |
|
DIN No.: |
01295500 |
|
|
|
|
Name : |
Mr. Gottimukkala Muralidhar |
|
Designation : |
Director |
|
Address : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Date of Appointment : |
17/10/2003 |
|
DIN No.: |
01295771 |
|
|
|
|
Name : |
Mr. Gottimukkala Vamsi Mohan |
|
Designation : |
Director |
|
Address : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Date of Birth/Age : |
29.11.1974 |
|
Date of Appointment : |
17/10/2003 |
|
DIN No.: |
01295702 |
|
|
|
|
Name : |
Mr. Kotamraju Sriharsha |
|
Designation : |
Director |
|
Address : |
06.01.1977 |
|
Date of Birth/Age : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Date of Appointment : |
17/10/2003 |
|
DIN No.: |
01295809 |
|
|
|
|
Name : |
K. Savitri |
|
Designation : |
Director |
|
Address : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Date of Birth/Age : |
12.06.1954 |
|
Date of Appointment : |
24.04.1995 |
|
|
|
|
Name : |
G. Suseela |
|
Designation : |
Director |
|
Address : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Date of Birth/Age : |
14.01.1956 |
|
Date of Appointment : |
24.04.1995 |
|
|
|
|
Name : |
Mr. SBS. Kotam Raju |
|
Designation : |
Director |
|
Address : |
1-9-295/32/B, Vidhyanagar, Hyderabad-500 044, |
|
Date of Birth/Age : |
20.11.1978 |
|
Date of Appointment : |
17.10.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
K. Babu Rao |
|
145,700 |
|
G. Kishore |
|
127,000 |
|
G. Murlidhar |
|
62,640 |
|
G. Vamsi Mohan |
|
65,050 |
|
SBS Kotamraju |
|
60,290 |
|
K. Savitri |
|
184,420 |
|
K. Sriharsha |
|
8,500 |
|
G. Susheela |
|
208,020 |
|
Subba Rao |
|
50,000 |
|
K. Swamy Rao |
|
30,000 |
|
G. Anjaiah |
|
20,000 |
|
K. Chidambar Rao |
|
20,000 |
|
T. Sasikaladhar Rao |
|
160,000 |
|
A. Ramakrishna |
|
60,000 |
|
A. Vasumathi |
|
45,000 |
|
Bose Reddy |
|
30,000 |
|
K. Srinivas Raju |
|
35,000 |
|
M. Suneela |
|
20,000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Actual Production: 19732.531 KGS.
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
·
Wholesales ·
Retailers ·
ABR Laboratories ·
Achemic Pharmaceuticals ·
Acto Pharmaceuticals ·
Akin Laboratories Limited ·
Alapati Pharma ·
Alysynth Remedies Limited ·
Annapurna Foils Limited ·
Annapurna Hotel ·
Apar Pharma ·
Arrow Pharma ·
Aven Nutrients ·
Azad Process Foods |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
09 Approximately |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Syndicate ·
State Bank of ·
CITI Bank ·
HDFC Bank |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SSN Murthy and Company Chartered Accountant |
|
Address : |
4002, Emerald House, |
|
Tel No.: |
91-40-27842025 |
|
Mobile No.: |
91-9440396111 |
|
Email: |
|
|
PAN.: |
AFBPS7708F |
CAPITAL STRUCTURE
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1860000 |
Equity Shares |
Rs.10/- each |
Rs.18.600 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1860000 |
Equity Shares |
Rs.10/- each |
Rs.18.600
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 |
18.600 |
18.600 |
18.600 |
|
|
2] Share Application Money |
17.988 |
11.392 |
11.602 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
36.588 |
29.992 |
30.202 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
40.734 |
39.410 |
33.376 |
|
|
2] Unsecured Loans |
1.008 |
1.226 |
1.287 |
|
|
TOTAL BORROWING |
41.742 |
40.636 |
34.663 |
|
|
DEFERRED TAX LIABILITIES |
3.618 |
3.178 |
2.419 |
|
|
|
|
|
|
|
|
TOTAL |
81.948 |
73.806 |
67.284 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
39.712 |
41.591 |
43.595 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.286
|
0.752 |
0.815 |
|
|
Sundry Debtors |
6.479
|
7.945 |
9.739 |
|
|
Cash & Bank Balances |
0.394
|
0.111 |
0.337 |
|
|
Other Current Assets |
0.149
|
0.143 |
0.262 |
|
|
Loans & Advances |
1.222
|
1.218 |
1.168 |
|
Total
Current Assets |
10.530
|
10.169 |
12.321 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.026
|
1.442 |
0.771 |
|
|
Other Current Liabilities |
0.007
|
0.057 |
0.317 |
|
|
Provisions |
0.307
|
0.589 |
0.343 |
|
Total
Current Liabilities |
1.340
|
2.088 |
1.431 |
|
|
Net Current Assets |
9.190
|
8.081 |
10.890 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
33.046 |
24.134 |
12.799 |
|
|
|
|
|
|
|
|
TOTAL |
81.948 |
73.806 |
67.284 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4.397 |
5.711 |
12.572 |
|
|
|
Other Income |
2.583 |
1.082 |
0.957 |
|
|
|
TOTAL (A) |
6.980 |
6.793 |
13.529 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
4.759 |
5.853 |
11.319 |
|
|
|
Selling and Administrative Expenses |
3.876 |
3.372 |
5.582 |
|
|
|
Preliminary Expenses Written off |
0.004 |
0.004 |
0.004 |
|
|
|
TOTAL (B) |
8.639 |
9.229 |
16.905 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(1.659) |
(2.436) |
(3.376) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
4.786 |
6.088 |
4.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(6.445) |
(8.524) |
(7.876) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.031 |
2.029 |
1.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(8.476) |
(10.553) |
(9.863) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(0.440) |
(0.787) |
(0.791) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(8.916) |
(11.340) |
(10.654) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(24.130) |
(12.790) |
(2.136) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(33.046) |
(24.130) |
(12.790) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NIL |
NIL |
NIL |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
127.74
|
166.94 |
78.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
192.77
|
184.78 |
78.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.87
|
20.39 |
17.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.35 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.18
|
1.42 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.89
|
4.87 |
8.61 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
Yes |
REVIEW OF OPERATIONS:
During the year, the company’s turnover is Rs.4.397 Millions; against this the net loss is Rs.8.476 Millions.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|||||||||||||||||||||
|
Charge
identification number of the modified |
90133147 |
|||||||||||||||||||||
|
Corporate
identity number of the company |
L99999AP1995PLC020099 |
|||||||||||||||||||||
|
Name of the
company |
SRI DEEPT FOILS
LIMITED |
|||||||||||||||||||||
|
Address of the
registered office or of the principal place of business in |
1-9-295/32/B,
Vidhyanagar, |
|||||||||||||||||||||
|
Type of charge |
Book Debts Movable Property |
|||||||||||||||||||||
|
Particular of
charge holder |
Syndicate Bank,
R.P. Road Branch, |
|||||||||||||||||||||
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement |
|||||||||||||||||||||
|
Date of
instrument Creating the charge |
29/03/2007 |
|||||||||||||||||||||
|
Amount secured by
the charge |
Rs.36.900
Millions |
|||||||||||||||||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
Terms of
Repayment SOD and ILC - On
demand. OSL-I, II, III
and WCTL - In 84 monthly installments without any repayment holiday. Margin SOD - 40% on
receivables and 25% on stocks. OSL-III - 26%. ILC - 10% cash
margin. Extent and
Operation of the charge The charge
operates as first charge on all fixed and current assets of the company. |
|||||||||||||||||||||
|
Short particulars
of the property charged |
1. Hypothecation
of stocks, consumables and receivables. 2. Hypothecation
of Plant and Machinery (existing and proposed). |
|||||||||||||||||||||
|
Date of latest modification
prior to the present modification |
14/06/2005 |
|||||||||||||||||||||
|
Particulars of
the present modification |
Overall limits
enhanced from Rs.35.500 Millions to Rs.36.900 Millions. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Fittings
·
Fax
·
Furniture and Fixtures
·
Weighing Machine
·
Cylinders
·
Voltage
·
Office Equipment
·
Vehicles
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.56.53 |
|
|
1 |
Rs.88.09 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPTP |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.