MIRA INFORM REPORT

Report Date :

27.11.2012

IDENTIFICATION DETAILS

Name :	SUNNY TREXIM PRIVATE LIMITED
Registered Office :	204, Acharya Jagdish Chandra Bose Road, Kolkata – 700017, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	21.06.1995
Com. Reg. No.:	21-072240
Capital Investment / Paid-up Capital :	Rs.5.619 Millions
CIN No.: [Company Identification No.]	U51909WB1995PTC072240
TAN No.: [Tax Deduction & Collection Account No.]	CALS07803F
PAN No.: [Permanent Account No.]	AADCS6026Q
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in business of export, import and trading of Cotton, Jute, Bullion, Food Grains and Yarn.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 170000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The latest financials of the company are not made available. As per previous year’s, there appears huge external borrowing recorded by the company. The profitability of the company is very low. However, trade relations are reported as fair. Business is active. Payments terms are unknown. 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	FITCH
Rating	Short Term Rating: F4
Rating Explanation	Indicates a highly uncertain capacity for timely payment of financial commitments.
Date	28.02.2011

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.

LOCATIONS

Registered Office :	204, Acharya Jagdish Chandra Bose Road, Kolkata – 700017, West Bengal, India
Tel. No.:	91-33-22811219/ 22696853
Fax No.:	Not Available
E-Mail :	nirmalkaushik@hotmail.com
Website :	http://www.sunnycottsindia.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Sanjay Mittal

Designation :

Director

Address :

204, AJC Bose Road, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

02.10.1971

Date of Appointment :

21.06.1995

Voter ID No.:

WB-23-146-060846

DIN No.:

00498266

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909WB1995PTC072240	SUNNY TREXIM PVT.LTD.	Director	21/06/1995	21/06/1995	-	Active	NO
2	U63040WB1993PTC058169	TRIDENT TRAVEL PVT TLD	Director	07/04/1999	07/04/1999	-	Active	NO
3	U91110MH1921NPL000940	COTTON ASSOCIATION OF INDIA	Director	31/12/2010	13/07/2006	30/12/2011	Active	NO

Name :

Mr. Vishnu Dass Mittal

Designation :

Director

Address :

204, AJC Bose Road, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

04.08.1948

Date of Appointment :

21.06.1995

PAN No.:

ABRPP0951F

DIN No.:

00709152

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U51909WB1995PTC072240	SUNNY TREXIM PVT.LTD.	Director	21/06/1995	21/06/1995	Active	NO
2	U63040WB1993PTC058169	TRIDENT TRAVEL PVT TLD	Director	07/04/1999	07/04/1999	Active	NO
3	U91110MH1921NPL000940	COTTON ASSOCIATION OF INDIA	Director	30/12/2011	21/12/2007	Active	NO

Name :

Mr. Sachin Mittal

Designation :

Director

Address :

204, AJC Bose Road, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

28.12.1982

Date of Appointment :

25.07.2003

PAN No.:

AJPPM8792B

DIN No.:

00709209

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909WB1995PTC072240	SUNNY TREXIM PVT.LTD.	Director	25/07/2003	25/07/2003	-	Active	NO
2	U91110MH1921NPL000940	COTTON ASSOCIATION OF INDIA	Director	21/01/2010	21/01/2010	31/12/2010	Active	NO
3	U63040WB1993PTC058169	TRIDENT TRAVEL PVT TLD	Director	01/05/2011	01/05/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 31.03.2011)

Names of Shareholders	No. of Shares
Vishnu Dass Mittal	43100
Sanjay Mittal	61100
Sachin Mittal	8350
Anchal Mittal	3100
Vidya Devi Mittal	23500
Swati Devi Mittal	20500
Ritu Mittal	101500
Pooja Mittal	12030
Priyanka Mittal	40700
Trident Travel Private Limited	42000
Sunil Kailash Chand Mittal	29000
Sandeep Kailash Chand Mittal	28000
Sanjay Kailash Chand Mittal	60000
Vishnu Dass Mittal (HUF)	50000
Sachin Vishnu Das Mittal	39000
Total	561880

(AS ON 31.03.2012)

Names of Allottees	No. of Shares Allotted
Alka Singhania	15000
Gloomy Vircon Private Limited, India	10000
H S Thakur and Sons (HUF)	10000
Ramesh Kumar Akash Pachisia HUF	12000
Ramsingh Sharma	7000
Subhash Dutta	18000
Sweta Bajaj	10000
Total	82000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in business of export, import and trading of Cotton, Jute, Bullion, Food Grains & Yarn.

Products :

Products Description	Item Code No.
Cotton	52010000

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· The Federal Bank Limited

R N Mukherjee Road Branch, 1 R N Mukherjee Road, Kolkata – 700001, West Bengal, India

· Standard Chartered Bank

SME Banking, 19 N S Road, Kolkata - 700001, West Bengal, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks secured	6.239	265.304
Foreign currency loans banks secured	128.531	552.076
Total	134.770	817.380
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans others unsecured	5.868	9.775
Total	5.868	9.775

Banking Relations :	--
Auditors :
Name :	R. P. Sharma and Associates Chartered Accountant
Address :	19-D, Muktaram Babu Street, Kolkata – 700007, West Bengal, India
Tel. No.:	91-33-22696853/ 22695348
PAN No.:	AFRPK8735J

CAPITAL STRUCTURE

(AS ON 29.09.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
643880	Equity Shares	Rs.10/- each	Rs.6.439 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
561880	Equity Shares	Rs.10/- each	Rs.5.619 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		5.619	3.229	3.229
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		37.728	32.276	26.211
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		43.347	35.505	29.440
LOAN FUNDS
1] Secured Loans		134.770	817.380	438.698
2] Unsecured Loans		5.868	9.775	10.013
TOTAL BORROWING		140.638	827.155	448.711
DEFERRED TAX LIABILITIES		0.066	0.026	0.021
TOTAL		184.051	862.686	478.172
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		27.305	21.488	2.088
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.257	1.226	1.141
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	27.270	89.646	95.993
	Sundry Debtors	42.016	813.556	378.374
	Cash & Bank Balances	21.142	16.958	16.771
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	92.839	44.401	63.743
Total Current Assets		183.267	964.561	554.881
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	16.263	112.756	77.555
	Other Current Liabilities	11.035	11.833
	Provisions	0.480	0.000	2.383
Total Current Liabilities		27.778	124.589	79.938
Net Current Assets		155.489	839.972	474.943
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		184.051	862.686	478.172

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1232.503	2672.986	1497.226
		Other Income		97.655	31.198
		TOTAL (A)	1232.503	2770.641	1528.424
Less	EXPENSES
		Cost of Goods Sold		2488.843	1356.723
		Direct Expenses		169.334	83.877
		Payments to and Provision for Employees		2.460	1.859
		Rent, Rates and Taxes		1.414	1.988
		Administrative, Selling and Distributions Expenses		65.014	28.375
		Foreign Exchange Fluctuation		0.000	24.684
		TOTAL (B)	1223.217	2727.065	1497.506
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(Including Financial Expenses)	43.576	30.918
Less	FINANCIAL EXPENSES (D)			33.909	23.801
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.286	9.667	7.117
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.323	0.809	0.344
	PROFIT BEFORE TAX (E-F) (G)		7.963	8.858	6.773
Less	TAX (H)		2.511	2.793	2.365
	PROFIT AFTER TAX (G-H) (I)		5.452	6.065	4.408
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		24.996	18.931	14.523
	BALANCE CARRIED TO THE B/S		30.448	24.996	18.931
	EARNINGS IN FOREIGN CURRENCY		862.878	2967.543	NA
	Earnings Per Share (Rs.)		9.70	18.78	13.65

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.44	0.22	0.29
Net Profit Margin (PBT/Sales)	(%)	NA	0.33	0.45
Return on Total Assets (PBT/Total Assets}	(%)	3.78	0.90	1.22
Return on Investment (ROI) (PBT/Networth)		0.18	0.25	0.23
Debt Equity Ratio (Total Liability/Networth)		3.89	26.81	17.96
Current Ratio (Current Asset/Current Liability)		6.60	7.74	6.94

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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	Yes

NOTE:

The Registered office of the company has been shifted from, R. No. 813 Marshall House, 33/1 N S Road, Kolkata – 700001, West Bengal, India, to the present address w.e.f. 01.11.2010.

THE YEAR IN RETROSPECT

The Company is engaged in business of export, import and trading of Cotton, Jute, Bullion, Food Grains & Yarn.

The turnover of the Company is Rs.1201.700 Millions as compared to Rs.2671.900 Millions in the previous year. The decline in sales is due to the export ban imposed by the Government of India on export of cotton during the period. The profit before tax is Rs.7.963 Millions as compared to Rs.8.842 Millions for the previous year. Lately on 4th August, 2011, the Government of India has classified export of cotton for crop of 2010-2011 under Open General License (OGL) and in respect of crop of Financial Year 2011-2012, the company is hopeful regarding continuity of keeping export of cotton under Open General License. The company foresees growth in export turnover in the subsequent financial year.

FORM 8

This form is for	Modification of charge
Charge identification number of the modified	10221164
Corporate identity number of the company	U51909WB1995PTC072240
Name of the company	SUNNY TREXIM PVT.LTD.
Address of the registered office or of the principal place of business in India of the company	204, Acharya Jagdish Chandra Bose Road, Kolkata – 700017, West Bengal, India nirmalkaushik@hotmail.com
Type of charge	Immovable Property
Particular of charge holder	Standard Chartered Bank SME Banking, 19 N S Road, Kolkata – 700001, West Bengal, India sme.form8@sc.com
Nature of description of the instrument creating or modifying the charge	Memorandum of Entry - Supplemental
Date of instrument Creating the charge	21/05/2012
Amount secured by the charge	Rs.87.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest Bank will charge interest and other charges as stipulated in the sanction terms however the same is subject to change from time to time. Terms of Repayment Pre-shipment finance under Export Order - Maximum 60 days Pre-Shipment finance under Export LC - maximum 120 days Post-Shipment Finance - maximum 120 days Forward Contract - 180 days Credit Bill Negotiation - 120 Days OD facility is valid upto April 04, 2013 or payable on demand Margin The borrower shall maintain appropriate margin as stipulated in the sanction terms however the same is subject to change from time to time. Extent and Operation of the charge The charged security shall be a continuing security and by way of first charge. The Co being Guarantor created the aforesaid mortgage by way of Simple Deposit of Title deeds in favor of the Bank as Guarantor to secure the due repayment of the Credit facilities as sanctioned by the said Bank to the tune of Rs.870Lacs to M/s Banarsi Das & Sons ( Borrower) and for no other purpose. Others The charged security shall be kept at the Co's risk and expenses in good condition and fully insured against loss or damage by fire , theft etc and also against other loss or damages may be required by the Bank. The charged goods and all sales realisation and insurance proceeds thereof and all the documents under this security shall be held as bank's exclusive property. Other terms are as per Sanction letter and Memorandum of Entry etc.
Short particulars of the property charged	The Company created Equitable mortgage by deposit of title deeds in respect of all that all that office space measuring about 2400 Sq. Ft. on the 2nd Floor together with two covered car parking space on the basement of the building and built and constructed at or upon the plot of land measuring about 15 Cottahs and 12 Chittacks comprised in municipal premises no. 204, Lower Circular Road (also known as Acharya Jagadish Chand Bose Road) under P.S. Ballygunge within the limit of KMC along with right in the land and other facilities.
Particulars of the present modification	By this present modification overall limit has been enhanced to Rs.87.000 Millions from Rs.65.000 Millions, various sub-limits has been modified as below: - Facility of Rs.720lacs interchangeable between Pre-shipment Export/LC, post-shipment, CBN and OD facility (restricted to Rs.30.000 Millions) - Forex Forward LER Facility of Rs.15.000 Millions. Other terms and conditions has remain unchanged.

FIXED ASSETS:

· Building

· Plant and Machinery

· Other Equipment

· Computer

· Furniture and Fixtures

· Vehicle

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.55.69
UK Pound	1	Rs.89.20
Euro	1	Rs.72.10

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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		30

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.