MIRA INFORM REPORT

Report Date :

27.06.2012

IDENTIFICATION DETAILS

Name :	PHARMCOMPLETE - LIMITED LIABILITY COMPANY
Registered Office :	Gagarina str., 37, bldg. 23, Territoriya "NITEL", Nizhni Novgorod, Nizhni Novgorod Region, 603009
Country :	Russian Federation
Financials (as on) :	01.01.2011
Date of Incorporation :	26.09.2002
Com. Reg. No.:	1025203727691
Legal Form :	OOO (Limited Liability Company by Russian Law)
Line of Business :	Wholesale trade in pharmaceutical and medical goods, medical equipment, medical furniture.
No. of Employees :	550 (Approximately)

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 :	Satisfactory
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 Obschestvo s ogranichennoy otvetstvennostyu "FARMKOMPLEKT" (name in English: "PHARMCOMPLETE" LIMITED LIABILITY COMPANY). We provide the report on this company.

Summary

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "FARMKOMPLEKT"
Legal Form	OOO (Limited Liability Company by Russian Law)
Year of Foundation	1994
Sales	2 147 484 th RUR for 12 months, ended 01.01.2011
Employees	550 (approx.) on June, 23, 2012 (company's data)

Company Identification Details

Original Name	Obschestvo s ogranichennoy otvetstvennostyu "FARMKOMPLEKT"
Short Name	OOO "FARMKOMPLEKT"
Name in English	"PHARMCOMPLETE" LIMITED LIABILITY COMPANY
Address	Gagarina str., 37, bldg. 23, Territoriya "NITEL", Nizhni Novgorod, Nizhni Novgorod Region, 603009, Russian Federation
Post Address	post box 22, Nizhni Novgorod, Nizhni Novgorod Region, 603107, Russian Federation
Legal Address	Gagarina str., 37, bldg. 23, Nizhni Novgorod, Nizhni Novgorod Region, 603009, Russian Federation
Phone	+7 (831) 2778177, 2778170
Fax	+7 (831) 2778177, 2778187
E-mail	pharm@pharm.nnov.ru
WEB Address	www.pharm.nnov.ru
History	13.11.2007: Legal Address changed from Salganskaya str., 7, Nizhni Novgorod, Nizhni Novgorod Region, 603000, Russian Federation

Official Company Data

Legal Form	OOO (Limited Liability Company by Russian Law)
Date of Registration	26.09.2002
Registration Number	1025203727691
Statistic Code (OKPO)	39249193
Taxpayer Code (INN)	5262036363
Registration Authority	Ministry for Taxes and Duties of Russian Federation

Public Record Information

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "FARMKOMPLEKT" was not included in the published list of bankrupt companies.

Share Capital

Current Share Capital

10 000 RUR

Shareholders

Total	1 private person
Shareholder	Mr Gaysinskiy Igor' Yur'evich
Nationality	Russian Federation
Address	Bol'shaya Pecherskaya str., 32, ap. 21, Nizhni Novgorod, Nizhni Novgorod Region, 603155, Russian Federation
Date of Birth	04.07.1970
Taxpayer Code (INN)	526201613318
Share	100 %

Directors

Director	Mr Gaysinskiy Igor' Yur'evich
	Signature Right
Nationality	Russian Federation
Address	Bol'shaya Pecherskaya str., 32, ap. 21, Nizhni Novgorod, Nizhni Novgorod Region, 603155, Russian Federation
Date of Birth	04.07.1970
Taxpayer Code (INN)	526201613318

Re-Registration Data

Initial Registration	07.12.1994
Registration Number	3488
Registration Authority	Administration of Nizhni Novgorod
Date of Registration	26.09.2002
	(Entering into the Single State Register of Legal Entities)
Registration Number	1025203727691
Registration Authority	Ministry for Taxes and Duties of Russian Federation
Date of Re-registration	12.03.2010
File Number	2105261021182
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	08.07.2010
File Number	2105261047296
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	29.10.2010
File Number	2105261075588
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	16.12.2010
File Number	2105261087370
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	26.04.2011
File Number	2115261028650
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	16.06.2011
File Number	2115261039474
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	20.09.2011
File Number	2115261056667
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	10.01.2012
File Number	2125261000016
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	09.02.2012
File Number	2125261004977
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules
Date of Re-registration	26.04.2012
File Number	2125261018210
Registration Authority	Federal Tax Service of Russian Federation
Changes	Company's Rules

Operations

Activities	Wholesale trade in pharmaceutical and medical goods, medical equipment, medical furniture. The company sells the production of the companies SCHERING-BAYER, BERLIN-CHEMIE, SERVIER, TEVA, NOVARTIS, WORWAG PHARMA, BIONORICA, OAO "FARMSTANDART", OAO "VALENTA FARMATSEVTIKA", OAO "NIZHFARM", OAO "AKRIKHIN".
Staff Employed	550 (approx.) on June, 23, 2012 (company's data)
Employees' History	300 (approx.) on April, 26, 2010 (company's data)

Real Estate

Own	none
Rent	Office, warehouse Address: Gagarina str., 37, bldg. 23, Territoriya "NITEL", Nizhni Novgorod, Nizhni Novgorod Region, 603009, Russian Federation (company's data)

Export & Import

Export Countries	2011: Kyrgyzstan, Uzbekistan, Tajikistan, Moldova, Latvia, Azerbaijan, Turkmenistan, Lithuania, Mongolia, Armenia, Georgia 2010: Uzbekistan, Kyrgyzstan, Tajikistan, Moldova, Turkmenistan, Georgia, Armenia, Estonia, Mongolia, Ukraine, Azerbaijan, Lithuania, USA 2009: Uzbekistan, Kyrgyzstan, Tajikistan, Moldova, Azerbaijan, Turkmenistan, Georgia, Mongolia, USA, Armenia 2008: Uzbekistan, Kirghizia, Moldova, Tajikistan, Azerbaijan, Turkmenia, Kazakhstan, Armenia, Georgia 2007: Uzbekistan, Kirghizia, Moldova, Azerbaijan, Georgia, Kazakhstan, Ukraine
Exported Goods	pharmaceutical and medical goods, medical equipment, medical furniture
Export Value	in 2011: 8 343 550 USD in 2010: 12 156 001 USD in 2009: 7 916 370 USD in 2008: 12 307 918 USD in 2007: 10 882 488 USD
Import Countries	2011: Ukraine, France, Switzerland, India, Germany 2010: Ukraine, Switzerland, Hungary, Germany 2009: Ukraine, Poland, Germany, Austria, Hungary 2008: Ukraine, Germany, Poland 2007: Ukraine, Latvia, Poland
Imported Goods	pharmaceutical and medical goods, medical equipment, medical furniture
Import Value	in 2011: 7 568 935 USD in 2010: 4 723 060 USD in 2009: 6 167 445 USD in 2008: 6 758 908 USD in 2007: 3 712 444 USD

Branches

Branch

The company has got branches and representations in following cities of Russian Federations: Voronezh, Krasnodar, Ufa, Kazan, Novosibirsk, Ekaterinburg, Kirov, Cheboksary, Ivanovo, Kursk, Vladimir, Belgorod, Rostov-on-Don, Penza, Ryazan, Yaroslavl, Samara, Barnaul, Perm, Stavropol, Orenburg.

Participation

Information

None

Related Companies

Information

Mr Gaysinskiy Igor' Yur'evich is also a shareholder of companies: OOO "SEVERO-VOSTOK" Registration number: 1095261002176 OOO "YUGO-VOSTOK" Registration number: 1065261027864

Bankers

Bank	VOLGO-VYATSKIY BANK SBERBANKA ROSSIYSKOY FEDERATSII, bank code: 042202603 (Russian Federation)
Account(s)	40702810342020000839 (RUR)
Bank	OAO "AL'FA-BANK", Nizhni Novgorod branch, bank code: 042202824 (Russian Federation)
Account(s)	40702810100010002310 (RUR)
Bank	ZAO AB "GAZPROMBANK", Nizhni Novgorod branch, bank code: 042202764 (Russian Federation)
Account(s)	40702810100000000833 (RUR)

Financial Data

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12	12
Ended	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR	RUR
SALES	2147484	2147484	2423500	1492955
Cost of Goods sold	2147484	2147484	2139713	1252929
GROSS PROFIT	71809	371142	283787	240026
Distribution Costs	157630	104174	91499	53244
Management Costs	217322	231456	153986	108040
OPERATING PROFIT	-303143	35512	38302	78742
Non Trading Income	317994	81209	34253	-2632
PRE TAX PROFIT	14851	116721	72555	76110
Taxation	4562	30147	18852	18541
PROFIT AFTER TAX	10670	86493	53710	57562

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR	RUR
TOTAL FIXED ASSETS	22614	22115	2796	4420
Intangible Assets	183	202	221	253
Fixed Assets	7173	3812	2263	4023
TOTAL CURRENT ASSETS	1912210	1500067	998659	663549
Stock	881857	567317	305777	176042
Trade debtors	966585	779878	612006	424150
Cash	50604	37121	27848	11266
TOTAL ASSETS	1934824	1522182	1001455	667969
TOTAL EQUITY	333411	322733	236203	182892
Share Capital	10	2	2	2
Retained Profits	333368	322698	236168	182857
TOTAL LONG TERM LIABS	267	267	223	229
Long Term Loans
TOTAL CURRENT LIABS	1601146	1199182	765029	484848
Short Term Loans	330788	337148	207196	139449
Short Term Trade Creditors	1270358	862034	557833	345399
TOTAL EQUITY & LIABS	1934824	1522182	1001455	667969

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Current Ratio	1,19	1,25	1,31	1,37
Working Capital, x1000 RUR	311064	300885	233630	178701
Quick Ratio	0,64	0,78	0,91	1,01
Debt to Equity Ratio	4,8	3,72	3,24	2,65
Current Assets Turnover	1,12	1,43	2,43	2,25
Total Assets Turnover Ratio	1,11	1,41	2,42	2,24
Pre Tax Profit Margin, %	0,69	5,44	2,99	5,1
Gross Profit, %	3,34	17,28	11,71	16,08
Return on Investment, %	4,45	36,17	30,72	41,61
Return on Assets, %	0,77	7,67	7,24	11,39

Clients & Suppliers

Clients

OSOO "KAARRUS" (Kirghizia) OOO "BEKOR" (Moldova) OSOO "LAKHISAM" (Uzbekistan) OOO "AVERSI-FARMA" (Georgia) OOO "ASKLEPIY" (Uzbekistan) OOO "PROVIZOR" (Moldova) OSOO "MAK" (Kirghizia) OOO "FARMA IMPEKS" (Uzbekistan) PASHA-K (Azerbaijan) OOO "NOVBAHOR-SAVDO" (Uzbekistan) ZAO "PROFITMED" (Russian Federation) OOO "RUSPLEYADA-FARM" (Russian Federation) OOO "RUSPLEYADA" (Russian Federation) OOO "LEMM" (Russian Federation) OOO "FARMATSEVTICHESKAYA KOMPANIYA AVIKON" (Russian Federation) ZAO "BASHMEDSERVIS" (Russian Federation) OOO "NUTRI FARM" (Russian Federation) ZAO "TMK FARMEKS" (Russian Federation) GUP AO "FARMATSIYA" (Russian Federation) ZAO "OB'EDINENNYY APTECHNYY DOM" (Russian Federation)

Suppliers

OAO "KIEVGUMA" (Ukraine) PHARMPLANT ELFA A.O. (Poland) AO "GRINDEKS" (Latvia) OOO "FARMATSEVTICHESKAYA KOMPANIYA "ZDOROV'E" (Ukraine) OAO "LUGANSKIY KHIMIKO-FARMATSEVTICHESKIY ZAVOD" (Ukraine) OAO "KHIMFARMZAVOD "KRASNAYA ZVEZDA" (Ukraine) OOO "MEDEO-FARM" (Ukraine) OAO "LEKKHIM" (Ukraine) BIONORICA AG (Germany) OOO "RUSPLEYADA-FARM" (Russian Federation) ZAO "BERLIN-FARMA" (Russian Federation) OOO "ARBAKOM" (Russian Federation) OOO "SK "AL'FA FORTUNA" (Russian Federation) OOO "GALENA FARMA" (Russian Federation) ZAO "PROFITMED" (Russian Federation) OAO "URALBIOFARM" (Russian Federation) ZAO "DOMINANTA-SERVIS" (Russian Federation) ZAO FAK "BALTIMOR" (Russian Federation) OOO "FARMATSEVTICHESKAYA KOMPANIYA "SIBIR'" (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	18.06.2012
Registration number	A43-17105/2012
Plaintiff	OOO "FARMKOMPLEKT"
Defendant	OOO "LEMM-EMES"
Claim sum	373 353 RUR
Claim category	Default of obligations under the contract

Date of registration	18.06.2012
Registration number	A43-17102/2012
Plaintiff	OOO "FARMKOMPLEKT"
Defendant	OOO "PUL'S ZDOROV'YA"
Claim sum	967 529 RUR
Claim category	Default of obligations under the contract

Date of registration	08.06.2012
Registration number	A43-16671/2012
Plaintiff	OOO "FARMKOMPLEKT"
Defendant	ZAO "TMK FARMEKS"
Claim sum	1 170 929 RUR
Claim category	Default of obligations under the contract

Date of registration	28.02.2012
Registration number	A43-8253/2012
Plaintiff	OOO "FARMKOMPLEKT"
Defendant	OOO "ZDOROVYE LYUDI KAZAN'"
Claim sum	359 307 RUR
Claim category	Default of obligations under the contract

Date of registration	04.12.2008
Registration number	85070/08-80-324
Plaintiff	OOO "FARMKOMPLEKT"
Defendant	OOO "INFARMA PRO"
Claim sum	1 098 116 RUR
Claim category	Default of obligations under the contract

Date of registration	24.06.2008
Registration number	35531/08-5-326
Plaintiff	OOO "FARMKOMPLEKT"
Defendant	OOO "INTERKER"
Claim sum	2 273 749 RUR
Claim category	Default of obligations under the contract

Publications

Date	2012
Source	The Federal Tax Service of Russian Federation
Text of Publication	The Federal Tax Service of Russian Federation has published the information that the Mr Gaysinskiy Igor' Yur'evich (as private person) doesn't have not paid taxes.

Original Financial Data (Russian Accounting Report in English)

Balance Sheet

The following figures are shown in units of 1000

ASSETS	Line code	as at 01.01.2009	as at 01.01.2010	as at 01.01.2011
I. NON-CURRENT ASSETS
Intangible assets	110	221	202	183
Fixed assets	120	2263	3812	7173
Construction in progress	130	310	-	276
Income-bearing investments in tangible assets	135	-	-	-
Long-term financial investments	140	1	18101	14601
Deferred tax assets	145	1	-	381
Other non-current assets	150	-	-	-
Total section I	190	2796	22115	22614
II. CURRENT ASSETS
Inventories	210	305777	567317	881857
including :
raw materials and other inventories	211	1058	575	1134
livestock	212	-	-	-
work in progress	213	-	1157	1845
finished goods and goods for resale	214	301963	561629	875192
goods dispatched	215	-	-	-
expenses related to future periods	216	2756	3956	3686
other supplies and expenditures	217	-	-	-
Value added tax on purchased goods	220	9919	11842	12164
Accounts receivable (payments expected beyond 12 months after the reporting date)	230	-	-	-
including :
buyers and customers	231	-	-	-
Accounts receivable (payments expected within 12 months after the reporting date)	240	612006	779878	966585
including :
buyers and customers	241	612006	706351	853002
Short-term investments	250	160	103803	1000
Monetary assets	260	27848	37121	50604
Other current assets	270	42949	106	-
Total section II	290	998659	1500067	1912210
TOTAL SECTIONS I and II	300	1001455	1522182	1934824
EQUITY AND LIABILITIES
III. EQUITY AND RESERVES
Share capital	410	2	2	10
Treasury shares	411	-	-	-
Additional capital	420	33	33	33
Legal reserve	430	-	-	-
including :
reserves and provisions formed in   accordance with legislation	431	-	-	-
reserves formed in accordance   with foundation documents	432	-	-	-
Retained earnings (loss)	470	236168	322698	333368
Total section III	490	236203	322733	333411
IV. NON-CURRENT LIABILITIES
Borrowings	510	-	-	-
Deferred tax liabilities	515	223	267	267
Other non-current liabilities	520	-	-	-
Total section IV	590	223	267	267
V. CURRENT LIABILITIES
Borrowings	610	207196	337148	330788
Accounts payable	620	557833	862034	1270358
including :
suppliers and contractors	621	535578	824016	1245945
salaries payable	622	3506	3523	5404
payable to state non-budget funds	623	1013	1118	1915
taxes payable	624	2078	1049	2956
other creditors	625	15658	32328	14138
Dividends payable to participants (shareholders)	630	-	-	-
Income of future periods	640	-	-	-
Reserves for future expenses  and payments	650	-	-	-
Other current liabilities	660	-	-	-
Total section V	690	765029	1199182	1601146
TOTAL SECTIONS III,IV,V	700	1001455	1522182	1934824

PROFIT AND LOSS ACCOUNT

The following figures are shown in units of 1000

PARAMETER	Line code	01.01.2011	01.01.2010	01.01.2009
INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES
Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)	010	2147484	2147484	2423500
Cost of goods, products, work, services sold	020	2147484	2147484	2139713
Gross profit	029	71809	371142	283787
Selling expenses	030	157630	104174	91499
Administrative expenses	040	217322	231456	153986
Profit (loss) from operations	050	-303143	35512	38302
OTHER INCOME AND EXPENSES
Interest income	060	5869	3480	508
Interest expenses	070	9652	9625	9524
Income from investments in other companies	080	-	-	-
Other operating income	090	1644829	1379018	85704
Other operating expenses	100	1323052	1291664	42435
Non-operating income	120	-	-	-
Non-operating expenses	130	-	-	-
Profit (loss) before profit tax	140	14851	116721	72555
Deferred tax assets	141	381	-	1
Deferred tax liabilities	142	-	81	-6
Current profit tax	150	4562	30147	18852
Net profit (loss) for the reporting period	190	10670	86493	53710

Additional information about related companies

Below is presented the extended information about the related companies of subject company.

Name	OOO "YUGO-VOSTOK"
Registration Number	1065261027864
Taxpayer code (INN)	5261049715

Profit and Loss (extract)

The following figures are shown in units of 1000

Period, months	12	12	12	12
Ended	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR	RUR
SALES	29399	30354	29353	11209
Cost of Goods sold	8084	7105	8720	5491
GROSS PROFIT	21315	23249	20633	5718
Distribution Costs
Management Costs	3216	3744	2219	16740
OPERATING PROFIT	18099	19505	18414	-11022
Non Trading Income	-5526	-7648	-11939	-5816
PRE TAX PROFIT	12573	11857	6475	-16838
Taxation	2486
PROFIT AFTER TAX	10087	11857	6475	-16838

Balance Sheet (extract)

The following figures are shown in units of 1000

As at	01.01.2011	01.01.2010	01.01.2009	01.01.2008
Currency	RUR	RUR	RUR	RUR
TOTAL FIXED ASSETS	37961	44769	46064	50273
Intangible Assets
Fixed Assets	26712	30664	34713	37987
TOTAL CURRENT ASSETS	4809	3009	4790	49687
Stock	35	33	5	3518
Trade debtors	369	387	325	44913
Cash	407	1721	3559	617
TOTAL ASSETS	42771	47778	50854	99960
TOTAL EQUITY	11081	995	-10861	-17336
Share Capital	10	10	10	10
Retained Profits	11071	985	-10871	-17346
TOTAL LONG TERM LIABS	30011	43523	57381	53910
Long Term Loans	30011	43523	57381	53910
TOTAL CURRENT LIABS	1678	3260	4334	63386
Short Term Loans				54718
Short Term Trade Creditors	1678	3260	4334	8668
TOTAL EQUITY & LIABS	42771	47778	50854	99960

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.57.07
UK Pound	1	Rs.88.96
Euro	1	Rs.71.40

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.