MIRA INFORM REPORT

Report Date :

10.11.2012

1. Summary Information

		Country	India
Company Name	Lipap Systems Private Limited	Principal Name 1	Mr. Varun Praveen Khandelwal
Status	Satisfactory	Principal Name 2	Mr. Praveen Loknath Khandelwal
		Registration #	11-46204
Street Address	A - 213, Virwani Industrial Estate, Western Express Highway, Goregaon (East), Mumbai – 400 063, Maharashtra, India
Established Date	12.02.1988	SIC Code	--
Telephone#	91-22-28743716	Business Style 1	Manufacturing
Fax #	91-22-28743716	Business Style 2	Exporting
Homepage	http://www.lipap.com	Product Name 1	Computer Ribbons
# of employees	60 (Approximately)	Product Name 2	Typewriter Ribbons
Paid up capital	Rs.6,675,000/-	Product Name 3	Electronic Typewriter Ribbons
Shareholders	Directors or relatives of Directors (100.00%)	Banking	Bank of Baroda
Public Limited Corp.	No	Business Period	24 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	18,294,000	Current Liabilities	8,827,000
Inventories	34,894,000	Long-term Liabilities	38,076,000
Fixed Assets	13,790,000	Other Liabilities	1,773,000
Deferred Assets	000	Total Liabilities	48,676,000
Invest& other Assets	3,000	Retained Earnings	11,630,000
		Net Worth	18,305,000
Total Assets	66,981,000	Total Liab. & Equity	66,981,000
Total Assets (Previous Year)	55,468,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	NA	Net Profit	495,000
Sales(Previous yr)	NA	Net Profit(Prev.yr)	436,000

IDENTIFICATION DETAILS

Name :	LIPAP SYSTEMS PRIVATE LIMITED
Registered Office :	A - 213, Virwani Industrial Estate, Western Express Highway, Goregaon (East), Mumbai – 400 063, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	12.02.1988
Com. Reg. No.:	11-46204
Capital Investment / Paid-up Capital :	Rs.6.675 Millions
CIN No.: [Company Identification No.]	U32305MH1988PTC046204
IEC No.:	0389034711
TAN No.: [Tax Deduction & Collection Account No.]	MUML02128A
PAN No.: [Permanent Account No.]	AAACL0121A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Printers Consumables.
No. of Employees :	60 (Approximately)

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 73000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Praveen Loknath Khandelwal
Designation :	Director
Contact No.:	91-9867369205

LOCATIONS

Registered Office :	A - 213, Virwani Industrial Estate, Western Express Highway, Goregaon (East), Mumbai – 400 063, Maharashtra, India
Tel. No.:	91-22-28743716 / 28743916/ 28743457/ 28759382
Mobile No.:	91-9867369205 (Mr. Praveen Khandelwal)
Fax No.:	91-22-28743716 / 28743916
E-Mail :	lipap@vsnl.com aashish82_cs@rediffmail.com sales@lipap.com accounts@lipap.com
Website :	http://www.lipap.com
Area :	2000 sq ft
Location :	Owned
Factory :	Indo Industrial Estate No. 4, Plot No. 38, First Floor, Navghar, Vasai (East), Thane - 401 210, Maharashtra, India Tel. No.: 91-22-29271307 Fax No.: 91-22-29271310 Also Located at · Himachal Pradesh Area : 10000 sq ft (Vasai + Himachal Pradesh) Location : Rented

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Varun Praveen Khandelwal

Designation :

Director

Address :

Hem Nivas, 87, S V road, Kandivali (West), Mumbai – 400 067, Maharashtra, India.

Date of Birth/Age :

24.05.1980

Qualification :

M.B.A.

Date of Appointment :

14.08.2002

Din No.:

01233179

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	U32305MH1988PTC046204	LIPAP SYSTEMS PRIVATE LIMITED	Director	14-08-02	14-08-02	Active	NO
2	U51494MH2008PTC185070	AZAKTA FASHION PRIVATE LIMITED	Director	25-07-08	25-07-08	Active	YES

Name :

Mr. Praveen Loknath Khandelwal

Designation :

Director

Address :

Hem Nivas, 87, S V road, Kandivali (West), Mumbai – 400 067, Maharashtra, India.

Date of Birth/Age :

10.03.1955

Qualification :

B.Com

Date of Appointment :

14.08.2002

Din No.:

01233212

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Praveen Loknath Khandelwal	420000
Varun Praveen Khandelwal	147000
Nisha Khandelwal	100500
TOTAL	667500

AS ON 29.09.2012

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

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Printers Consumables.
Products :	· Computer Ribbons · Typewriter Ribbons · Electronic Typewriter Ribbons · Thermal transfer Ribbons · Correction Tapes · Ribbon Cassettes · Pan Cakes

PRODUCTION STATUS [AS ON 31.03.2011]

(On Single shift and Maximum Utilization Basis (As Certified by the Directors on which Auditors have placed reliance, this being a technical matter.
Particulars	Unit	Installed Capacity
Ribbon Cassettes	Nos.	200000
Pancakes	Sq. mtrs	1200000
Correction Tapes	Nos.	1100000
Spool Ribbons	Nos.	1350000
Inkjet Refills	Nos.	150000
Thermal Transfer Ribbon	Nos.	45000

PRODUCTION [NOS.]:

PARTICULAR	PRODUCTION [QTY.]
Refill Packs	81086
Pancakes	1080
Ribbon Cassettes	195276
Spool Ribbons	490
Thermal Transfer Ribbon	16431

GENERAL INFORMATION

No. of Employees :

60 (Approximately)

Bankers :

· Bank of Baroda, BFS BR, Mathru Ashish Building, S V Road Kandivali (West), Mumbai – 400 067, Maharashtra, India

· Development Credit Bank Limited, 601 and 602, Peninsula Business Park, 6^th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India

· HDFC Bank

· Standard Chartered Bank

· Kotak Mahindra Bank Limited

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Term Loan
Bank of Baroda [Cash Credit A/C]	0.000	17.943
Development Credit Bank [Cash Credit A/C]	9.682	0.000
Development Credit Bank [Overdraft A/C]	14.662	0.000
TOTAL	24.344	17.943
Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Loans and Advances From Related Parties	11.656	6.884
Standard Charted Loan – 47647892	0.328	1.280
Kotak Mahindra Bank Limited – 2555023	0.614	1.415
HDFC Bank Loan - Varun	0.165	0.276
HDFC Bank Loan – Praveen	0.000	0.273
HDFC Bank Loan – 16709527	0.540	0.921
BOB Credit Card	0.004	0.096
Manhattan Credit Card – Varun	0.150	0.128
HSBC Credit Card	0.017	0.017
SCB Credit Card – Praveen	0.155	0.086
HDFC Bank A/C No. – 12332	0.101	0.242
Kotak Mahindra A/C No. 228	0.000	0.038
IDBI Bank Limited A/C No. 6071	0.002	0.001
TOTAL	13.732	11.657

Banking Relations :	--
Auditors :
Name :	Salgia and Company Chartered Accountants
Address :	3, Suresh Sadan, Daulat Nagar, Road No. 4, Borivali (East), Mumbai-400066, Maharashtra, India
Tel. No.:	91-22-28918689
E-Mail :	mail@salgia.in
PAN No:	AAKPS8848J

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
667500	Equity Shares	Rs.10/- each	Rs.6.675 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		6.675	6.675	6.675
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		11.630	11.287	11.099
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		18.305	17.962	17.774
LOAN FUNDS
1] Secured Loans		24.344	17.943	18.351
2] Unsecured Loans		13.732	11.657	7.067
TOTAL BORROWING		38.076	29.600	25.418
DEFERRED TAX LIABILITIES		1.408	1.501	1.794
TOTAL		57.789	49.063	44.986
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		13.790	11.997	13.523
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.003	0.003	0.003
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	34.894	28.921	27.385
	Sundry Debtors	12.205	8.478	8.422
	Cash & Bank Balances	2.083	1.500	1.506
	Other Current Assets	3.456	3.354	0.000
	Loans & Advances	0.550	1.215	3.104
Total Current Assets		53.188	43.468	40.417
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7.123	3.982	7.068
	Other Current Liabilities	1.704	1.911	1.452
	Provisions	0.365	0.512	0.437
Total Current Liabilities		9.192	6.405	8.957
Net Current Assets		43.996	37.063	31.460
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		57.789	49.063	44.986

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			45.608
		Other Income			0.335
		TOTAL (A)	NA	NA	45.943
Less	EXPENSES
		Material Consumed, Manufacturing and Other Expenses			40.978
		Prior Period Adjustments			0.250
		TOTAL (B)	NA	NA	41.228
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				4.715
Less	FINANCIAL EXPENSES (D)				2.987
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				1.728
Less/ Add	DEPRECIATION/ AMORTISATION (F)				1.479
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		0.768	0.509	0.249
Less	TAX (H)		0.273	0.073	0.193
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		0.495	0.436	0.056
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		9.119	8.683	8.627
	BALANCE CARRIED TO THE B/S		9.614	9.119	8.683
	Earnings / (Loss) Per Share (Rs.)		0.74	0.65	0.08

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	0.12
Net Profit Margin (PBT/Sales)	(%)	NA	NA	0.55
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	0.46
Return on Investment (ROI) (PBT/Networth)		0.04	0.03	0.01
Debt Equity Ratio (Total Liability/Networth)		2.58	2.00	1.93
Current Ratio (Current Asset/Current Liability)		5.79	6.79	4.51

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one year	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	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
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	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	10320203
Corporate identity number of the company	U32305MH1988PTC046204
Name of the company	LIPAP SYSTEMS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A - 213, Virwani Industrial Estate, Western Express Highway, Goregaon (East), Mumbai – 400 063, Maharashtra, India
Type of charge	Book Debts Movable Property [not being pledge] Immovable Property
Particular of charge holder	Development Credit Bank Limited, 601 and 602, Peninsula Business Park, 6^th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India Email: vijaykurankar@dcbbank.com
Nature of description of the instrument creating or modifying the charge	Letter of Recording dated15.01.2012 Nature of Facility: Cash Credit Rs.9.500 Millions. Overdraft Rs.14.500 Millions. Inland Import L/C (DA 120 days) Rs 6.000 Millions. ============== Rs.30.000 Millions
Date of instrument Creating the charge	15.01.2012
Amount secured by the charge	Rs.30.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 3% over Base Rate Min. 13.50% p.a. (present Base Rate being 10.50% p.a.) Terms of Repayment Cash Credit and Overdraft: On Demand / Annual Review. Inland or Import Letter of Credit (DA 120 days) : On Demand / Annual Review / On retirement / On due date. Margin Cash Credit: 25% on Stocks upto 180 days and Debtors upto 90 days. Overdraft: 40% on the value of property. Inland or Import Letter of Credit (DA 120 days): 15% Cash margin under RIC. Extent and Operation of the charge The Charge is operative and modified to create equitable mortgage by way of first charge over the said properties for the total credit facilities of Rs.30.000 Millions.
Short particulars of the property charged	Hypothecation of whole of the moveable properties of the borrower including its moveable, stocks in trade, finished goods, goods in progress, raw materials, book debts.
Particulars of the present modification	By this modification, the charge is modified to create equitable mortgage by way of first charge over Unit No. 210 and 213, Virwani Industrial Estate, Goregaon (East), Mumbai - 400063 owned by Lipap Systems Private Limited for the total credit facilities of Rs.30.000 Millions. There is no change in amount of charge limit. Other Terms and Conditions remain unchanged.

FIXED ASSETS:

· Factory Building

· Plant and machinery

· Electric installation

· Dies and blocks

· Furniture and fixtures

· Office equipment

· Fire equipments

· Computer

· Cycle

· Motor car

· Motor cycle

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.54.34
UK Pound	1	Rs.86.97
Euro	1	Rs.69.43

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

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