MIRA INFORM REPORT

Report Date :

08.10.2012

IDENTIFICATION DETAILS

Name :	TIRUPATI PLASTOMATICS PRIVATE LIMITED
Registered Office :	B-141-A, Road No.9-D, V.K.I. Area, Jaipur – 302 013, Rajasthan
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.05.1987
Com. Reg. No.:	17-003961
Capital Investment / Paid-up Capital :	Rs.20.000 Millions
CIN No.: [Company Identification No.]	U25209RJ1987PTC003961
TAN No.: [Tax Deduction & Collection Account No.]	JPRT00361E
PAN No.: [Permanent Account No.]	AAACT5317J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Automotive Electrical Cables, Wires and Cables.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 278000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a flagship company of Gemini Group of Industries. It is an established company having moderate track. Profit and loss statement is not available for the year 2011. As per previous years records, it is found that the profitability is 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 caution.

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	CRISIL
Rating	SE 2B
Rating Explanation	High performance capability and moderate financial strength
Date	August, 2012

Rating Agency Name	ICRA
Rating	BB (Fund Based Limits)
Rating Explanation	Moderate risk of default
Date	January, 2012

Rating Agency Name	ICRA
Rating	BB (Term Loan)
Rating Explanation	Moderate risk of default
Date	January, 2012

Rating Agency Name	ICRA
Rating	A4 (Non Fund Based Limits)
Rating Explanation	Minimal degree of safety and very high credit risk
Date	January, 2012

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. Oak
Designation :	General Manager
Contact No.:	91-9413340804
Date :	02.10.2012

LOCATIONS

Registered Office/ Factory :	B-141-A, Road No.9-D, V.K.I. Area, Jaipur – 302 013, Rajasthan, India
Tel. No.	91-141-2332902, 2331030, 2330305, 2330427
Mobile No.:	91-9829013043 (Mr. Ravi Gemini) 91-9413340804 (Mr. Oak)
Fax No.:	91-141-2331808
E-Mail :	support@geminicable.com tirupati@yahoo.com contact@tirupatiplastomatics.com
Website :	www.tirupatiplastomatic.com
Location :	Owned

DIRECTORS

As on 28.09.2011

Name :

Mr. Radhey Shyam Gemini

Designation :

Director

Address :

D-240, Behari Marg, Bani Park, Jaipur – 302 006, Rajasthan, India

Date of Birth/Age :

15.02.1951

Qualification :

B.A.

Date of Appointment :

07.05.1987

PAN No.:

ABIPG1420B

DIN No.:

00108706

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	U25209RJ1987PTC003961	TIRUPATI PLASTOMATICS PRIVATE LIMITED	Director	07/05/1987	07/05/1987	-	Active	NO
2	U31300RJ2003PTC018364	KANHHA CABLES PRIVATE LIMITED	Director	10/06/2003	10/06/2003	13/09/2011	Active	NO
3	U45201RJ2006PLC022536	KIRAN INFRA ENGINEERS LIMITED	Director	19/05/2006	19/05/2006	-	Active	NO
4	U45203RJ2007PTC024552	KANUHA INFRA ENGINEERS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
5	U29299RJ1995PTC010830	EQUITY FORGING PRIVATE LIMITED	Whole-time director	20/08/2007	08/08/2007	-	Active	NO
6	U74140RJ2009NPL028759	ELECTRICAL TECHNOLOGY PARK OF INDIA	Director	28/04/2009	28/04/2009	-	Active	NO
7	U27109RJ2010PLC032822	KIRAN INFRA ISPAT LIMITED	Director	15/09/2010	15/09/2010	-	Active	NO

Name :

Mr. Ravi Gemini

Designation :

Director

Address :

D-240, Behari Marg, Bani Park, Jaipur – 302 006, Rajasthan, India

Date of Birth/Age :

10.12.1974

Qualification :

B. Sc.

Date of Appointment :

29.09.2007

PAN No.:

AAPPG1987K

DIN No.:

00057572

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	U45201RJ2006PLC022536	KIRAN INFRA ENGINEERS LIMITED	Director	19/05/2006	19/05/2006	-	Active	NO
2	U25209RJ1987PTC003961	TIRUPATI PLASTOMATICS PRIVATE LIMITED	Director	29/09/2007	16/11/2006	-	Active	NO
3	U20219RJ2006PTC022521	SUNCARE ENTERPRISES PRIVATE LIMITED	Whole-time director	20/08/2007	19/05/2007	-	Active	NO
4	U45203RJ2007PTC024552	KANUHA INFRA ENGINEERS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
5	U29299RJ1995PTC010830	EQUITY FORGING PRIVATE LIMITED	Whole-time director	20/08/2007	08/08/2007	-	Active	NO
6	U27109RJ2010PLC032822	KIRAN INFRA ISPAT LIMITED	Director	15/09/2010	15/09/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Oak
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
R.S. Gemini	73164
Kishore Sharma	672
Paramhans Sharma	50
N.K. Sharma	450
S.K. Sharma	50
K.K. Sharma	457
Raenu Gemini	272
Kapil Gemini	47000
Ravi Gemini	51883
Ganga Sahay Sharma	1
Ram Sahay Sharma	1
Megha Gemini	18000
Jay Shree Gemini	8000
Total	200000

As on 28.09.2011

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

BUSINESS DETAILS

Line of Business :

Manufacturer of Automotive Electrical Cables, Wires and Cables.

Products :

Item Code No. (ITC Code)	743300
Product Description	Cable and DWC Pipe

v Double wall Corrugated (DWC) Pipes

v Single Wall Corrugated (SWC) Pipes of HDPE

v The PLT Power Cables

v Aerial Cables

v Control Cables

v Instrumentation Cables

v Thermocouple Cables

v Railway Signalling Cables

v Buried Service Cables

v Installation Cables

v Flexible Cables

v Conductors

v Household and Domestic Cables

v Trailing Cables

v Mining Cable

v FRLS Cables

v HR Cables

v Submersible Cables

v Custom Made Cables

v PVC: Retardant/ Polythene insulated cables, Unsheathed/ Sheathed, Armored/ Unarmored and Screened/ Unscreened types including Power, Control, Submersible, Telecoms, Coaxial, Radio frequency, Computer, HF, VHF, UHF, Railway signaling (Indoor), etc.

Exports :

Products :

v Automotive Electrical Cables

v Wires

v Cables

Countries :

v UK

v USA

v Australia

Imports :

Products :

v Raw Materials

Countries :

v Hong Kong

v China

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Actual Production
P.V.C. Cables and Wires	Mtrs.	110336364
DWC Pipe	Mtrs.	1902093

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

v Indian Railways

v BSNL

v PWDS

v Telecom Companies

v Infrastructure URE Projects, etc.

No. of Employees :

400 (Approximately)

Bankers :

v Bank of Baroda, V.K.I. Area Branch, Jaipur – 302 017, Rajasthan, India

v HDFC Bank Limited

v Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400 021, Maharashtra, India

v IDBI Bank Limited, Jaipur, Rajasthan, India

v Punjab National Bank

v Bank of Baroda

v State Bank of Bikaner and Jaipur, Jaipur, Rajasthan, India

Facilities :

Secured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Rupee term loans banks secured	1.500	4.500
Working capital loans banks secured	41.787	29.494
Loans taken for vehicles secured	1.221	3.735
Total	44.508	37.729

Unsecured Loans	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)
Loans directors unsecured	58.300	8.300
Other debt unsecured	27.420	31.420
Total	85.720	39.720

Banking Relations :	--
Auditors :
Name :	Dhoot and Associates Chartered Accountants
Address :	F-3, Ramesh Marg, C-Scheme, Jaipur – 302 001, Rajasthan, India
PAN No.:	AACFD2364C
Memberships :	RICO
Associates :	Kanhha Cables Private Limited CIN No.: U31300RJ2003PTC018364 Address: A-336, Road No.17, V.K.I. Area, Jaipur – 302 013, Rajasthan, India Tel. No.: 91-141-2246090/ 2331030 Fax No.: 91-141-2260073 E-Mail: support@kanhhacables.com Kiran Infra Engineers Limited, India CIN No.: U45201RJ2006PLC022536

CAPITAL STRUCTURE

As on 28.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
200000	Equity Shares	Rs.100/- each	Rs.20.000 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		20.000	20.000	10.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		49.550	42.655	34.650
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		69.550	62.655	44.650
LOAN FUNDS
1] Secured Loans		44.508	37.729	30.752
2] Unsecured Loans		85.720	39.720	0.000
TOTAL BORROWING		130.228	77.449	30.752
DEFERRED TAX LIABILITIES		0.675	0.781	0.717
TOTAL		200.453	140.885	76.119
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		122.329	125.109	47.680
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	88.508	25.835	57.568
	Sundry Debtors	261.887	331.009	235.087
	Cash & Bank Balances	4.121	2.926	5.307
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	85.809	62.082	152.384
Total Current Assets		440.325	421.852	450.346
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	312.061	339.434	387.683
	Other Current Liabilities	46.225	63.045	31.533
	Provisions	3.915	3.597	2.691
Total Current Liabilities		362.201	406.076	421.907
Net Current Assets		78.124	15.776	28.439
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		200.453	140.885	76.119

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	1185.346	977.080
		Other Income	1.653	0.092
		TOTAL (A)	1186.999	977.172
Less	EXPENSES
		Office Expenses	1154.046	956.100
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	1154.046	956.100
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		32.953	21.072
Less	FINANCIAL EXPENSES (D)		13.500	7.088
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		19.453	13.984
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.884	4.579
	PROFIT BEFORE TAX (E-F) (G)		11.569	9.405
Less	TAX (H)		3.564	3.217
	PROFIT AFTER TAX (G-H) (I)		8.005	6.188
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		33.715	27.527
	BALANCE CARRIED TO THE B/S		41.721	33.715
	EARNINGS IN FOREIGN CURRENCY		USD 706338.09	0.000
	Earnings Per Share (Rs.)		80.05	61.88

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	1330.000	1300.000

Expected Sales (2012-2013): Rs.1350.000 millions

The above information has been parted by Mr. Oak (General Manager)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	0.67	0.63
Net Profit Margin (PBT/Sales)	(%)	NA	0.98	0.96
Return on Total Assets (PBT/Total Assets}	(%)	NA	2.12	1.89
Return on Investment (ROI) (PBT/Networth)		NA	0.18	0.21
Debt Equity Ratio (Total Liability/Networth)		5.40	7.72	10.14
Current Ratio (Current Asset/Current Liability)		1.22	1.04	1.07

LOCAL AGENCY FURTHER INFORMATION

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	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last two years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
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) 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	No
34) External Agency Rating, if available	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	U25209RJ1987PTC003961
Name of the company	TIRUPATI PLASTOMATICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B-141-A, Road No.9-D, V.K.I. Area, Jaipur – 302 013, Rajasthan, India E-Mail: tirupati@yahoo.com
This form is for	Creation of charge
Type of charge	Immovable Property
Particular of charge holder	CIN No.: L65110MH1985PLC038137 Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400 021, Maharashtra, India E-Mail: john.fernandes@kotak.com
Nature of description of the instrument creating or modifying the charge	Memorandum of Deposit of the Title Deeds
Date of instrument Creating the charge	25.02.2012
Amount secured by the charge	Rs.50.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: WCTL - Floating over the tenure of the facility. Terms of Repayment: WCTL - maximum 60 months Margin: Nil Extent and Operation of the charge: First and exclusive charge by way of Mortgage on Immovable property of the company, in favour of Kotak Mahindra bank as security for repayment of financial facilities granted by the Bank to the Company. Others: All that part and parcel of property being Plot No.SP-35 having an area admeasuring 45,525 Sq.Mts. with all its present and future superstructures, situated at Industrial Area Kaladera, Jaipur, Rajasthan

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] 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.51.62
UK Pound	1	Rs.83.57
Euro	1	Rs.67.17

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	SMN

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	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		32

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.