MIRA INFORM REPORT

Report Date :

10.05.2012

IDENTIFICATION DETAILS

Name :	K MOHAN AND COMPANY (EXPORTS) PRIVATE LIMITED
Formerly Known As :	KARNATAKA CLOTHING PRIVATE LIMITED
Registered Office :	B-1, 62/5, Begur Road, Bommanahalli, Bangalore – 560068, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.04.2004
Com. Reg. No.:	08-033743
Capital Investment / Paid-up Capital :	Rs. 100.000 Millions
CIN No.: [Company Identification No.]	U18101KA2004PTC033743
TAN No.: [Tax Deduction & Collection Account No.]	BLRK04518D
PAN No.: [Permanent Account No.]	AAACL9811H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture and Sale of Readymade garments for exports.
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

Maximum Credit Limit :	USD 2700000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There appears some dip in the profitability of the company. However, networth appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company 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)
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 Office :	B-1, 62/5, Begur Road, Bommanahalli, Bangalore – 560068, Karnataka, India
Tel. No.:	91-80-25736001/41967110/111
Fax No.:	91-80-25736025
E-Mail :	nsrao@kmohan.com
Website :	http://www.kmohan.com
Corporate Office :	Sy No. 16/3, New Khata No. 53, Bangalore – 562128, Karnataka, India

DIRECTORS

As on 27.09.2011

Name :

Mr. Raju Mohandas Mahtaney

Designation :

Whole-time director

Address :

B 2, Epsilon Yemlur Main Road, Off Airport Road, Bangalore – 560037, Karnataka, India

Date of Birth/Age :

05.09.1950

Date of Appointment :

12.04.2004

DIN No.:

00152718

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
U65993KA1995PTC034482	TRINOVA HOLDINGS PRIVATE LIMITED	Additional director	29/08/2011	28/07/1995	30/09/2011	Active	NO
U65993KA1995PTC034481	FIREFLY HOLDINGS PRIVATE LIMITED	Additional director	29/08/2011	11/08/1995	30/09/2011	Active	NO
U67120KA1995PTC034480	GROWSAFE SECURITIES PRIVATE LIMITED	Director	14/10/1995	14/10/1995	-	Active	NO
U17121KA1997PTC022705	K.MOHAN AND COMPANY EXPORTS (INDIA) PRIVATE LIMITED	Director	28/08/1997	28/08/1997	-	Active	NO
U52321TN1987PTC014511	AAMBIND PRIVATE LIMITED	Director	18/11/2002	18/11/2002	-	Active	NO
U18109KA1996PTC019991	PRIMUS BRANDS PRIVATE LIMITED	Director	7/01/2004	7/01/2004	-	Amalgamated	NO
U74140KA2004PTC033579	ALLFOR BUSINESS PRIVATE LIMITED	Director	19/03/2004	19/03/2004	-	Strike off	NO
U18101KA2004PTC033743	K MOHAN AND COMPANY (EXPORTS) PRIVATE LIMITED	Whole-time director	6/03/2009	12/04/2004	-	Active	NO
U65999KA1995PTC019281	PRIMUS RETAIL PRIVATE LIMITED	Additional director	12/09/2011	30/09/2005	-	Active	NO
U18101KA1996PTC042444	RODMAN TECHNOLOGIES PRIVATE LIMITED	Additional director	29/08/2011	14/12/2006	30/09/2011	Active	NO
U17291TN2006PTC060922	MAGIC CLOTHING PRIVATE LIMITED	Director	5/02/2007	5/02/2007	7/07/2010	Active	NO
U18101KA1998PLC024274	PERSONALITY LIMITED	Director	30/05/2007	30/05/2007	-	Amalgamated	NO
U18109KA2009PTC050049	PRIMUS SPORTS PRIVATE LIMITED	Director	4/06/2009	4/06/2009	-	Amalgamated	NO
U18109KA2010PTC055327	WEEKENDER CLOTHING PRIVATE LIMITED	Director	28/09/2010	28/09/2010	-	Active	NO

Name :

Ms. Pooja Raju Mahtaney

Designation :

Whole-time director

Address :

B 2, Epsilon Yemlur Main Road, Off Airport Road, Bangalore – 560037, Karnataka, India

Date of Birth/Age :

11.03.1957

Date of Appointment :

12.04.2004

DIN No.:

00152968

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
U65993KA1995PTC034482	TRINOVA HOLDINGS PRIVATE LIMITED	Director	28/07/1995	28/07/1995	-	Active	NO
U65993KA1995PTC034481	FIREFLY HOLDINGS PRIVATE LIMITED	Director	11/08/1995	11/08/1995	-	Active	NO
U67120KA1995PTC034480	GROWSAFE SECURITIES PRIVATE LIMITED	Director	14/10/1995	14/10/1995	-	Active	NO
U65999KA1995PTC019281	PRIMUS RETAIL PRIVATE LIMITED	Director	29/11/1995	29/11/1995	31/03/2010	Active	NO
U17121KA1997PTC022705	K.MOHAN AND COMPANY EXPORTS (INDIA) PRIVATE LIMITED	Director	3/11/1997	3/11/1997	-	Active	NO
U52321TN1987PTC014511	AAMBIND PRIVATE LIMITED	Director	5/05/2003	5/05/2003	-	Active	NO
U74140KA2004PTC033579	ALLFOR BUSINESS PRIVATE LIMITED	Director	19/03/2004	19/03/2004	-	Strike off	NO
U18101KA2004PTC033743	K MOHAN AND COMPANY (EXPORTS) PRIVATE LIMITED	Whole-time director	6/03/2009	12/04/2004	-	Active	NO
U18109KA1996PTC019991	PRIMUS BRANDS PRIVATE LIMITED	Director	28/09/2005	28/09/2005	-	Amalgamated	NO
U18101KA1996PTC042444	RODMAN TECHNOLOGIES PRIVATE LIMITED.	Director	14/12/2006	14/12/2006	-	Active	NO

Name :

Ms. Gitanjali Raju Mahtaney

Designation :

Director

Address :

B 2, Epsilon Yemlur Main Road, Off Airport Road, Bangalore – 560037, Karnataka, India

Date of Birth/Age :

21.06.1979

Date of Appointment :

27.09.2011

Date of Ceasing :

01.10.2011

DIN No.:

00153081

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
U18101KA2004PTC033743	K MOHAN AND COMPANY (EXPORTS) PRIVATE LIMITED	Director	27/09/2011	12/04/2004	1/10/2011	Active	NO

KEY EXECUTIVES

Name :	Someswara Rao Nishtala
Designation :	Secretary
Address :	101, Phase 1, Golden Park Apartments, Kodichikkanahalli, Bangalore – 560076, Karnataka, India
Date of Birth/Age :	25.07.1954
Date of Appointment :	09.03.2006
PAN No.:	AAPPR9496Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2011

Names of Shareholders	No. of Shares
Raju Mohandas Mathaney	4992470
Pooja Raju Mahtaney	4992500
Gitanjali Raju Mahtaney	15000
Trinova Holdings Private Limited, India	10
Growsafe Securities Private Limited, India	10
K Mohan and Company Exports (India) Private Limited, India	10
Total	10000000

As on 27.09.2011

Equity Share Breakup	Percentage of Holding
Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture and Sale of Readymade garments for exports.

Products :

PRODUCT DESCRIPTION	ITEM CODE NO.
Ready Made garments	62034200

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity*	Actual Production
Ready made Garments	Pcs	NA	NA	103,91,569

* Installed capacity cannot be quantified on account of large variety of products that can be manufactured with varying specifications

GENERAL INFORMATION

Customers :

· Nike

· Vetissimo

· Marks and Spencer

· Banana Republic

No. of Employees :

Not Available

Bankers :

· The Bank of Nova Scotia, Bangalore Branch No. 25/2, S N Towers, M G Road, Bangalore – 560001, Karnataka, India

· Standard Chartered Bank, Raheja Towers, Sixth Floor, No. 26-27, M.G. Road, Bangalore – 560 001, Karnataka, India

· State Bank of India, Overseas Branch, St. Mark’s Road, Bangalore – 560 001, Karnataka, India

· The Royal Bank of Scotland N.V., 74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumbai-400021, Maharashtra, India

· Citi Bank N.A., Prestige Meridian- II, 30, M.G. Road, Bangalore-560001, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee Term loans banks	43.816	98.466
Rupee Term loans financial institutions	0.566	1.452
Foreign currency loans	706.287	663.344
Working capital loans	48.449	52.076
Total	799.118	815.338
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans directors	256.090	272.440
Total	256.090	272.440

Financial Institute :	Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi – 110017, India
Banking Relations :	--
Auditors :
Name :	Prakash and Thiagarajan Chartered Accountants
Address :	41, 3^rd Main, AECS Layout, 2^nd Stage, Nagashettyhalli, Sanjay Nagar, Bangalore – 560094, Karnataka, India
PAN.:	AADFP0006C
Parties Where control Exist :	· Primus Retail Private Limited · Aambind Private Limited · Rodman Technologies Private Limited · Trinova Holdings Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs. 100.000 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		100.000	100.000	100.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		584.529	580.415	527.118
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		684.529	680.415	627.118
LOAN FUNDS
1] Secured Loans		799.118	815.338	1131.343
2] Unsecured Loans		256.090	272.440	253.124
TOTAL BORROWING		1055.208	1087.778	1384.467
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1739.737	1768.193	2011.585
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		373.629	424.068	445.195
Capital work-in-progress		0.000	0.000	5.939
INVESTMENT		103.909	103.909	321.419
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	801.681	677.615	528.073
	Sundry Debtors	479.607	585.290	573.901
	Cash & Bank Balances	94.129	44.886	164.335
	Other Current Assets	56.209	14.949	6.010
	Loans & Advances	319.565	390.248	378.541
Total Current Assets		1751.191	1712.988	1650.860
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	354.812	332.312	300.592
	Other Current Liabilities	11.445	28.841	8.596
	Provisions	122.735	111.619	102.640
Total Current Liabilities		488.992	472.772	411.828
Net Current Assets		1262.199	1240.216	1239.032
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1739.737	1768.193	2011.585

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	4485.600	3624.900	6729.300
		Other Income
		TOTAL	4485.600	3624.900	6729.300
Less	EXPENSES
		Office Expenses
		Administrative Expenses	4423.000	3506.600	6842.200
		Advertising Expenses
		TOTAL	4423.000	3506.600	6842.200
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		62.600	118.300	[112.900]
Less/ Add	DEPRECIATION/ AMORTISATION		58.500	65.000	72.500
	PROFIT BEFORE TAX		4.100	53.300	[185.400]
Less	TAX		0.000	0.000	[2.000]
	PROFIT AFTER TAX		4.100	53.300	[183.400]
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		520.200	466.900	650.300
	BALANCE CARRIED TO THE B/S		524.400	520.200	466.900
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	4169.696	3431.610	3545.106
	TOTAL EARNINGS		4169.696	3431.610	3545.106
	IMPORTS
		Raw Materials	1099.578	985.294	875.469
		Stores & Spares	3.489	4.093	2.421
		Capital Goods	0.268	1.578	9.193
	TOTAL IMPORTS		1103.335	990.965	887.083
	Earnings Per Share (Rs.)		0.41	5.33	[18.34]

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.09	1.47	[2.73]
Return on Total Assets (PBT/Total Assets}	(%)	0.19	2.49	[8.85]
Return on Investment (ROI) (PBT/Networth)		0.01	0.08	[0.30]
Debt Equity Ratio (Total Liability/Networth)		2.26	2.29	2.86
Current Ratio (Current Asset/Current Liability)		3.58	3.62	4.01

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
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	Yes
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	Yes
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	Yes

Financial Highlights

The company reported a turnover of Rs. 4485.600 Millions in the current year compared to Rs. 3624.900 Millions for the year ending 31st March, 2010. Profit after tax stands at Rs. 4.100 Millions compared profit after tax of Rs. 53.200 Millions during 2009-10. The fall in profit for the current year is due to write offs to the extent of Rs. 55.000 Millions (previous year NIL).

Review of Operations

During the year the company continued to concentrate on increasing the customer base. Developing more business opportunities in UK and European countries continues to be the focus of the company. Optimising the second shift working with planned overtime and outsourcing sewing work, resulted in augmenting the production.

Keeping in view the sluggishness in the international markets, efforts are also focused on developing domestic market for the products of the Company,

Nature of Business

The company is engaged in the business of manufacture and sale of Ready made garments for export to leading international brands and its principal source of revenue is from the sale of such products. The company currently operates one 100% export oriented unit a domestic tariff area unit and a unit in SEZ.

FORM 8

Corporate identity number of the company	U18101KA2004PTC033743
Name of the company	K MOHAN AND COMPANY (EXPORTS) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B -1, 62/5, Begur Road, Bommanahalli, Bangalore – 560068, Karnataka, India Email Id : nsrao@kmohan.com
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi – 110017, India Email Id : corporateaffairs@religare.com
Nature of instrument creating charge	Facility Agreement dated 21.12.2011 for sanction of facility of Rs. 6.800 Millions against security of immovable property of the company
Date of instrument Creating the charge	21.12.2011
Amount secured by the charge	Rs. 6.800 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Floating Rate of interest which is presently 14.5% (RFRR-5%=14.5%) Terms of repayment 60 monthly installments of Rs. 0.160 Million each from February 2012 Margin 40% of the value of the immovable property Extent and operation of the charge First Charge on the immovable property hereby charged against the facility
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Land, with factory building thereon, No. 733/77/1A/33/2, Katha Number 394/ 9, Sy. No. 77/A and New 77/1A, at Hulimavu Village, Begur Hobli, Bangalore South Taluk, Bangalore 560 076, Karnataka, India

CONTINGENT LIABILITIES (As on 31.03.2011):

Disputed income tax demand pending in appeal – Rs. 17.963 Millions

Other Claims against the company not acknowledged as debts – Rs. 2.068 Millions

Guarantees given for associate companies – Rs. 574.231 Millions

Outstanding letters of Credit – Rs. 62.334 Millions

Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) – Rs. Nil

FIXED ASSETS

· Freehold Land

· Buildings

· Leasehold Improvements

· Plant and Machinery

· Electrical Equipment

· Office Equipment

· Furniture and Fixtures

· Computers

· Vehicles

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. 53.46
UK Pound	1	Rs. 86.27
Euro	1	Rs. 69.40

INFORMATION DETAILS

Report Prepared by :

ACH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	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		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	-

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.