MIRA INFORM REPORT

Report Date :

21.05.2012

IDENTIFICATION DETAILS

Name :	JAGMINI MICRO KNIT PRIVATE LIMITED
Registered Office :	Jagmini Building, C-19, Panki Industrial Area, Site-I, Kanpur – 208022, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.04.1994
Com. Reg. No.:	20-016374
Capital Investment / Paid-up Capital :	Rs.23.400 Millions
CIN No.: [Company Identification No.]	U18101UP1994PTC016374
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacture of high quality Knitted Cotton Socks.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 164000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. 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 cautions.

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/Factory :	Jagmini Building, C-19, Panki Industrial Area, Site-I, Kanpur – 208022, Uttar Pradesh, India
Tel. No.:	91-512-2691637/ 2691063
Fax No.:	91-512-2691125/ 2691063
E-Mail :	jag@jagmini.com Jagmini@vsnl.net amitjaiswal69@hotmail.com
Website :	http://www.jagmini.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Devendra Mohan Gupta

Designation :

Chairman cum Managing Director

Address :

7151, Tilak Nagar, Kanpur – 206002, Uttar Pradesh, India

Date of Birth/Age :

07.01.1950

Date of Appointment :

01.08.1994

DIN No.:

00226837

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U24111UP1974PLC004018	KANCHAN PROPERTIES LIMITED	Director	29/03/1982	29/03/1982	Active	NO
2	U32101UP1974PTC003975	CLASSIC HOSIERY PRIVATE LIMITED	Director	1/1/1985	1/1/1985	Active	NO
3	U18101UP1994PTC016374	JAGMINI MICRO KNIT PRIVATE LIMITED	Managing director	1/8/1994	1/8/1994	Active	NO
4	U74899DL1995PLC069581	SPFL SECURITIES LIMITED	Director	10/11/2005	10/11/2005	Active	NO
5	L22219UP1975PLC004147	JAGRAN PRAKASHAN LIMITED	Director	4/9/2008	29/07/2006	Active	NO
6	U67100UP1990PTC011645	JAGRAN MEDIA NETWORK INVESTMENT PRIVATE LIMITED	Additional director	21/07/2011	21/07/2011	Active	NO

Name :

Mr. Shailesh Gupta

Designation :

Director

Address :

7151, Tilak Nagar, Kanpur – 206002, Uttar Pradesh, India

Date of Birth/Age :

07.04.1969

Date of Appointment :

26.04.1994

DIN No.:

00192466

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U18101UP1994PTC016374	JAGMINI MICRO KNIT PRIVATE LIMITED	Director	26/04/1994	26/04/1994	Active	NO
2	L22219UP1975PLC004147	JAGRAN PRAKASHAN LIMITED	Whole-time director	1/10/2011	28/11/1994	Active	NO
3	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	24/09/2004	24/09/2004	Active	NO
4	U92199UP2004PTC029300	RAVE MOTI ENTERTAINMENT PRIVATE LIMITED	Director	8/12/2004	8/12/2004	Active	NO
5	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	18/09/2006	18/09/2006	Active	NO
6	U70102UP2007PTC033054	RAVE REAL ESTATE PRIVATE LIMITED	Director	23/03/2007	23/03/2007	Active	NO
7	U72300UP2008PLC036242	MMI ONLINE LIMITED	Director	3/11/2008	3/11/2008	Active	NO
8	U22130MH2008PLC177808	MIDDAY INFOMEDIA LIMITED	Director	14/07/2011	31/03/2011	Active	NO
9	U67100UP1990PTC011645	JAGRAN MEDIA NETWORK INVESTMENT PRIVATE LIMITED	Additional director	21/07/2011	21/07/2011	Active	NO
10	U72200MH2006PTC181004	SUVI INFO-MANAGEMENT (INDORE) PRIVATE LIMITED	Additional director	31/03/2012	31/03/2012	Active	NO
11	U02212MP1996PLC010689	NAIDUNIA MEDIA LIMITED	Additional director	31/03/2012	31/03/2012	Active	NO

Name :

Mr. Bhanwar Lal Kothiwal

Designation :

Director

Address :

7194-A, Tilak Nagar, Kanpur – 206002, Uttar Pradesh, India

Date of Birth/Age :

28.08.1945

Date of Appointment :

16.07.1994

DIN No.:

00393500

Other Directorship :

S.No.	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
1	U51109UP1979PTC004714	KOTHIWAL COMPANY PRIVATE LIMITED	Managing director	10/1/1979	10/1/1979	-	Active	NO
2	U51101UP1975PTC004199	JAIKOTHIWAL ESTATES PRIVATE LIMITED	Director	8/9/1983	8/9/1983	-	Active	NO
3	U51109UP1984PLC006922	KOTHIWAL TEXTILES LIMITED	Managing director	22/12/1984	22/12/1984	-	Active	NO
4	U18101UP1994PTC016374	JAGMINI MICRO KNIT PRIVATE LIMITED	Director	16/07/1994	16/07/1994	-	Active	NO
5	U65993UP1995PLC017591	KOTHIWAL FINANCE AND INVESTMENT LIMITED	Director	20/02/1995	20/02/1995	-	Active	NO
6	U34300DL2003PTC121154	JAI INFRA REALITY PRIVATE LIMITED	Director	6/7/2006	6/7/2006	-	Active	NO
7	U74999UP2007PTC033093	CHETNA APPARELS PRIVATE LIMITED	Director	31/03/2007	31/03/2007	23/02/2011	Active	NO
8	U15316DL2002PTC116912	IRENES COFFEE COMPANY PRIVATE LIMITED	Director	21/05/2007	21/05/2007	-	Active	NO
9	U74999UP2008PTC035481	CHETANA BUILDWELL PRIVATE LIMITED	Director	18/06/2008	18/06/2008	-	Active	NO
10	U18109UP2008PTC035511	CHETNA CLOTHING PRIVATE LIMITED	Director	20/06/2008	20/06/2008	-	Active	NO
11	U36900DL1988PTC032354	ACE FURNITURE SOLUTIONS PRIVATE LIMITED	Director	9/3/2009	9/3/2009	23/08/2010	Active	NO

Name :

Mr. Surendra Singh Bishnoi

Designation :

Director

Address :

2A/210, Azad Nagar, Kanpur, Uttar Pradesh, India

Date of Birth/Age :

20.12.1930

Date of Appointment :

16.07.1994

DIN No.:

01095968

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Saroj Gupta	150000
Sanjay Gupta	150000
Pragati Gupta	150000
Yogendra Mohan Gupta	150000
Sunil Gupta	150000
Sameer Gupta	150000
Pramila Gupta	150000
Shailesh Gupta	150000
Ruchi Gupta	37500
Dhriendra Mohan Gupta	12500
Madhu Gupta	25000
Devesh Gupta	150000
Tarun Gupta	150000
Devendra Mohan Gupta	150000
Raj Gupta	37500
Bharat Gupta	75000
Rahul Gupta	75000
Shailendra Mohan Gupta	137500
Rajni Gupta	200000
Toscom Company Limited, Japan	90000
Total	2340000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	3.85
Directors or relatives of directors	57.69
Other top fifty shareholders	38.46
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture of high quality Knitted Cotton Socks.

Products :

Products Description	Item Code No.
Knitted Socks	6115900

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Knitted Socks	(Pairs)	289200	289200	3085981

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Small Industries Development Bank of India

SIDBI Tower 15, Ashok Marg, Lucknow – 226001, Uttar Pradesh, Indian

· Canara Bank

16/98, The Mall, Kanpur – 208001, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Working Capital Finance
From Canara Bank (Secured by hypothecation of stocks of Raw materials, Semi Finished goods, Finished goods, Stores and Spares etc. and First Charge as equitable mortgage of Land and Building and hypothecation of other Fixed Assets. Also personal guarantees of Directors in addition to corporate guarantee of Classic Hosiery Private Limited	23.328	17.359
Term Loan from Canara Bnak
Loan secured by first charge by way of Hypothecation of all movable of the Borrower including plant, machinery and Equipment acquired/ under the scheme. (Same and except stocks and book debtors) (Installment due within one year Rs.3.240 Millions).	7.890	4.203
ICICI Car Loan	0.420	0.640
Total	31.638	22.202
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From a Director	42.966	36.377
Total	42.966	36.377

Banking Relations :	--
Auditors :
Name :	J. N. Sharma and Company Chartered Accountant
Address :	58/4, Birhana Road, Kanpur – 208001, Uttar Pradesh, India
Tel/ Fax No.:	91-512-2366629/ 3025370/ 2363726
Email :	jnscom@sify.com
PAN No.:	AAAFJ6568N
Group Companies :	· Jagran Prakashan Limited · Classic Hosiery (Private) Limited · Jagran Info Tech Limited · Kanchan Properties Limited

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2340000	Equity Shares	Rs.10/- each	Rs.23.400 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		23.400	23.400	23.400
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		17.608	20.939	10.468
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		41.008	44.339	33.868
LOAN FUNDS
1] Secured Loans		31.638	22.202	23.379
2] Unsecured Loans		42.966	36.377	33.610
TOTAL BORROWING		74.604	58.579	56.989
DEFERRED TAX LIABILITIES		10.442	5.319	5.645
Deferred Credit		3.588	3.360	0.000
TOTAL		129.642	111.597	96.502
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		79.057	75.357	68.361
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	35.548	31.280	27.712
	Sundry Debtors	14.162	6.334	1.765
	Cash & Bank Balances	1.038	0.601	0.205
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.740	11.989	8.643
Total Current Assets		63.488	50.204	38.325
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	3.143	4.249	3.304
	Other Current Liabilities	9.760	8.481	6.880
	Provisions	0.000	1.234	0.000
Total Current Liabilities		12.903	13.964	10.184
Net Current Assets		50.585	36.240	28.141
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		129.642	111.597	96.502

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales	109.260	101.929	76.687
		Other Operations Income	7.360	6.281	0.000
		Other Income	1.317	0.471	2.919
		TOTAL (A)	117.937	108.681	79.606
Less	EXPENSES
		Increase (Decrease) in Stocks	(2.521)	(0.695)	(3.806)
		Socks Purchased	4.199	0.730	2.574
		Raw Materials Consumption	55.745	46.707	34.916
		Manufacturer Expenses	24.104	22.778	18.363
		Payments to and provision for Employees	8.591	8.082	7.763
		Administrative Selling and Other Expenses	11.269	12.452	8.315
		Loss on Sale of Machinery	4.841	0.000	0.000
		TOTAL (B)	106.228	90.054	68.125
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		11.709	18.627	11.481
Less	FINANCIAL EXPENSES (D)		2.849	2.272	2.257
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.860	16.355	9.224
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.428	6.056	5.608
	PROFIT BEFORE TAX (E-F) (G)		2.432	10.299	3.616
Less	TAX (H)		0.695	(0.172)	(0.209)
	PROFIT AFTER TAX (G-H) (I)		1.737	10.471	3.825
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		17.476	7.005	8.073
	BALANCE CARRIED TO THE B/S		19.213	17.476	11.898
	EARNINGS IN FOREIGN CURRENCY		107.958	100.897	76.345
	IMPORTS
		Raw Materials	0.129	0.733	1.735
		Stores & Spares	1.901	1.326	1.884
		Capital Goods	7.987	10.006	3.890
		Others	0.442	0.527	0.655
		Socks	2.560	0.000	0.000
	TOTAL IMPORTS		13.019	12.592	8.164
	Earnings Per Share (Rs.)		0.74	4.47	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.47	9.63	4.80
Net Profit Margin (PBT/Sales)	(%)	2.23	10.10	4.72
Return on Total Assets (PBT/Total Assets}	(%)	1.71	8.20	3.39
Return on Investment (ROI) (PBT/Networth)		0.06	0.23	0.11
Debt Equity Ratio (Total Liability/Networth)		2.13	1.64	1.98
Current Ratio (Current Asset/Current Liability)		4.92	3.60	3.76

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	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

CONTINGENT LIABILITIES

a) Unexpired letters of credit Rs.0.512 Millions (Previous year Rs. Nil)

b) Outstanding commitments for capital expenditure Rs.2.292 Millions (Previous year Rs. Nil)

FORM 8:

This form is for	Modification of charge
Charge identification number of the modified	90280137
Corporate identity number of the company	U18101UP1994PTC016374
Name of the company	JAGMINI MICRO KNIT PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C-19, Panki Industrial Area, Kanpur – 208022, Uttar Pradesh, India amitjaiswal76@gmail.com
Type of charge	Immovable property
Particular of charge holder	Canara Bank 16/98, The Mall, Kanpur – 208001, Uttar Pradesh, India jkscoknp@gmail.com
Nature of description of the instrument creating or modifying the charge	Letter Evidencing deposit of Title Deeds for Extension of Equitable Mortgage.
Date of instrument Creating the charge	28/02/2011
Amount secured by the charge	Rs.54.775 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest As per Hypothecation Agreement/Sanction Terms Terms of Repayment As per Hypothecation Agreement/Sanction Terms Margin As per Hypothecation Agreement/Sanction Terms Extent and Operation of the charge The Company's immovable properties as mentioned hereunder are mortgaged to secure following credit facilities aggregating to Rs.54.775 Millions granted by the Bank to the Borrower:- 1.Packing Credit Rs.22.500 Millions 2.FDB/FBE Rs.7.500 Millions 3.T/L-I Rs.8.625 Millions 4.T/L-II Rs.8.650 Millions 5.ILC/FLC Rs.5.500 Millions 6.BG Rs.2.000 Millions TOTAL Rs.54.775 Millions
Short particulars of the property charged	Equitable Mortgage of land and building situated at C-19 /A, Panki Industrial Area Site - I Kanpur admeasuring area of 2338.89 square meters.
Date of latest modification prior to the present modification	27/08/2010
Particulars of the present modification	The Credit facilities aggregating Rs.54.775 Millions shall now also be secured by equitable mortgage of Company's immovable properties.

FIXED ASSETS:

· Leasehold Land

· Factory Buildings

· Office Building

· Plant and Machinery

· Electrical Installations and Fittings

· Vehicles

· Furniture and Fixture

· Computer

· Tolis and Implements

· Office Equipments

· Electrical Equipment

· Generating Set

· Air Condition

· C.W.I.P. Building

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.54.88
UK Pound	1	Rs.86.46
Euro	1	Rs.69.49

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--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		28

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.