MIRA INFORM REPORT

Report Date :

02.02.2013

IDENTIFICATION DETAILS

Name :	SUPREET CHEMICALS PRIVATE LIMITED
Registered Office :	A1/5402, Fourth Phase, GIDC, Vapi, Valsad-396195, Gujarat
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	07.07.1992
Com. Reg. No.:	04-017944
Capital Investment / Paid-up Capital :	Rs.4.098 Millions
CIN No.: [Company Identification No.]	U24231GJ1992PTC017944
TAN No.: [Tax Deduction & Collection Account No.]	SRTS02517E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Dye Intermediates and Chemicals.
No. of Employees :	400 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 614000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exists
Comments :	Subject is an established company having moderate track record. It is exposed to foreign exchange fluctuations and risks of adverse fluctuations in the cost of input materials. However, trade relations are reported as fair. Business is active. Payment terms are 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.

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	ICRA
Rating	A4 [Short Term Limits]
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	10.07.2012

Rating Agency Name	ICRA
Rating	BB [Long Term Limits]
Rating Explanation	Moderate risk of default.
Date	10.07.2012

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 [GENERAL DETAILS]

Name :	Mr. Saju
Designation :	Accounts Manager
Contact No.:	91-9825126212
Date :	02.02.2013

LOCATIONS

Registered Office :	A1/5402, Fourth Phase, GIDC, Vapi, Valsad-396195, Gujarat, India
Tel. No.:	91-260-6544503 / 2422624
Mobile No.:	91-9825126212 [Mr. Saju]
Fax No.:	91-260-2401485
E-Mail :	sales@supreetgroup.com purchase@supreetgroup.com
Website :	http://www.supreetgroup.com
Location :	Owned
Factory 1 :	Plot No. EX-3A, 1^st Phase, GIDC, Vapi-396195, Gujarat, India
Factory 2 :	Plot No. 2808, 3^rd Phase, GIDC, Vapi-396195, Gujarat, India

DIRECTORS

AS ON 30.09.2012

Name :	Harjindersingh Jaswantsingh Sarna
Designation :	Managing Director
Address :	311, Sarna House, Near Gunjan Cinema, GIDC, Vapi, Gujarat, India
Date of Appointment :	07.07.1992
Din No.:	00598887
Name :	Narendrakaur Harjindersingh Sarna
Designation :	Director
Address :	311, Sarna House, Near Gunjan Cinema, GIDC, Vapi, Gujarat, India
Date of Appointment :	07.07.1992
Din No.:	00599281

KEY EXECUTIVES

Name :	Mr. Saju
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

Names of Shareholders	No. of Shares
Harjindersingh Jaswantsingh Sarna	24740
Narendrakaur Harjindersingh Sarna	16240
TOTAL	40980

AS ON 30.09.2012

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

BUSINESS DETAILS

Line of Business :	Manufacturer of Dye Intermediates and Chemicals.
Exports :
Products :	Chemical Dyes
Countries :	Europe
Imports :
Products :	Raw Materials
Countries :	China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

400 [Approximately]

Bankers :

Bank of India, Vapi Industrial Estate Branch, Plot No. CM/16, GIDC, Vapi-396195. Gujarat, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Loans Repayable on Demand From Banks	141.829	128.520
Term Loans From Banks	0.000	20.462
TOTAL	141.829	148.982
NOTE: The term loans from banks was secured by: First and exclusive charge by way of hypothecation of entire machineries and other movable fixed assets and equitable mortgage of land and building of the company. Personal guarantees by directors of the company. The loans from directors are interest free. The loans repayable on demand from bank are secured by: First and exclusive charge on inventories and receivable and other current assets of the company. Second charge by way of hypothecation of entire machineries and other movable fixed assets and equitable mortgage of land and buildings of the company. Personal guarantees by directors of the company.

Banking Relations :	--
Auditors :
Name :	Uday Mehta and Associates Chartered Accountants
Address :	302, Shyamkamal B Building, 3^rd Floor, Agarwal Market, Vile Parle (East), Mumbai-400057, Maharashtra, India
PAN No:	AADPM2718C

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
40980	Equity Shares	Rs.100/- each	Rs.4.098 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		4.098	4.098	4.098
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		149.537	135.937	121.430
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		153.635	140.035	125.528
LOAN FUNDS
1] Secured Loans		141.829	148.982	109.583
2] Unsecured Loans		21.067	21.156	16.161
TOTAL BORROWING		162.896	170.138	125.744
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		316.531	310.173	251.272
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		131.877	137.353	137.334
Capital work-in-progress		0.000	5.642	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	159.356	141.823	92.323
	Sundry Debtors	216.361	164.605	124.469
	Cash & Bank Balances	14.715	31.599	14.224
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	34.653	44.562	30.345
Total Current Assets		425.085	382.589	261.361
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	219.970	189.149	134.240
	Other Current Liabilities	18.794	22.060	8.850
	Provisions	1.667	4.202	4.333
Total Current Liabilities		240.431	215.411	147.423
Net Current Assets		184.654	167.178	113.938
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		316.531	310.173	251.272

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue From Operations [Gross]	807.650	771.206
		Other Income	5.651	7.133
		TOTAL (A)	813.301	778.339	483.105
Less	EXPENSES
		Cost of Materials Consumed	506.959	558.526
		Purchases of Stock in Trade	101.090	48.060
		Employee Benefits Expenses	27.668	23.227	448.539
		Other Expenses	145.732	130.695
		Changes in Inventories of Finished Goods, Work in Progress	(15.015)	(32.586)
		TOTAL (B)	766.434	727.922	448.539
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		46.867	50.417	34.566
Less	FINANCIAL EXPENSES (D)		7.975	10.462	10.155
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		38.892	39.955	24.411
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17.259	16.700	14.619
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		21.633	23.255	9.792
Less	TAX (H)		4.697	5.410	2.034
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		16.936	17.845	7.758
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	43.892	37.614
Less	APPROPRIATIONS
		Transfer to General Reserve	1.000	1.000	1.000
		Proposed Dividend	NA	0.410	0.410
		Tax on Proposed Dividend	NA	0.066	0.070
	BALANCE CARRIED TO THE B/S		NA	60.261	43.892
	EARNINGS IN FOREIGN CURRENCY
		Direct Exports	348.762	377.707	181.593
	IMPORTS
		Raw Materials & Traded Goods	176.722	141.747	91.679
	Earnings / (Loss) Per Share (Rs.)		413.28	435.45	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.08	2.29	1.60
Net Profit Margin (PBT/Sales)	(%)	2.67	3.02	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.88	4.47	2.45
Return on Investment (ROI) (PBT/Networth)		0.14	0.17	0.07
Debt Equity Ratio (Total Debt/Networth)		1.06	1.21	1.00
Current Ratio (Current Asset/Current Liability)		1.77	1.77	1.77

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS:

Particulars	31.03.2012 (Rs. in millions)	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)
Sundry Creditors	219.970	189.149	134.240

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	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 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	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

HIGH COURT OF GUJARAT TAX APPEAL No. 304 of 2007
Status: PENDING ( Converted from : ST/125/2007 ) CCIN No: 001092200700304 Last Listing Date: 10/09/2007 Coram: - HONOURABLE THE CHIEF JUSTICE Y.R. MEENA - HONOURABLE MR.JUSTICE AKIL KURESHI
S.NO.		NAME OF THE PETITIONER					ADVOCATE ON RECORD
1		COMMISSIONER OF INCOME TAX					MR. SUDHIR M MEHTA FOR: APPELLANT (S) 1
S.NO.		NAME OF THE RESPONDANT					ADVOCATE ON RECORD
1		SUPREET CHEMICALS PRIVATE LIMITED					RULE SERVED FOR: OPPONENTS (S) 1
Presented On : 12/01/2007 Registered On : 12/01/2007 Bench Category : DIVISION BENCH District : VALSAD Case Originated From: THROUGH ADVOCATE Listed : 2 times Stage Name : FOR REGULAR ADMISSION (SPL.) Act INCOME TAX ACT, 1961 OFFICE DETAILS
S. No	Filing Date		Document Name			Advocate Name				Court Fee on Document	Document Details
1	12/01/2007		CERTIFIED COPY			MR. MANISH R BHATT ADVOCATE FOR PETITIONER (S) 1				6	--
2	12/01/2007		MEMO OF APPEAL/PETITION/SUIT			MR. MANISH R BHATT ADVOCATE FOR PETITIONER (S) 1				20	--
3	15/12/2008		APPEARANCE NOTE			MRS. MAUNA M BHATT ADVOCATE OF PETITIONER (S) 1				--	--
4	21/04/2012		APPEARANCE NOTE			MR. SUDHIR M MEHTA ADVOCATE FOR PETITIONER (S) 1				--	--
COURT PROCEEDINGS
S. No.	Notified Date		Court Code	Board Sr. No.	Stage			Action	Coram
1	10/09/2007		1	-	FOR REGULAR ADMISSION (SPL.)			NEXT DATE	· HONOURABLE THE CHIEF JUSTICE Y.R. MEENA · HONOURABLE MR.JUSTICE AKIL KURESHI

ECONOMIC SCENARIO:

The year 2011-12 was precarious for the general industry and business activities are found to be in jeopardy due to the governmental policies, fiscal deficiency, consumer’s pattern, industrial structure and lack of integration. The overall trend shows the feeble situation of the Indian. Industries to compete with the multinational companies. The current economic scenario has uprooted many business units and was full of melancholy (mental depression). The effect of economic changes is onerous on the public at large. However, looking to the shiner side of the coin, governments has liberalized its foreign and industrial policies, particularly for chemical industries and this has helped the company in many ways.

PERFORMANCE OF THE COMPANY:

The company has continued its accelerated growth during the year and in spite of foreign exchange rate fluctuation and hike in raw material price, the company has achieved quality and targeted sales of Rs.807.650 Millions and earned profit of Rs.16.936 Millions compared to profit of last year Rs.17.844 Millions.

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Loans and advances from directors	21.067	21.156
TOTAL	21.067	21.156

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	90110880
Corporate identity number of the company	U24231GJ1992PTC017944
Name of the company	SUPREET CHEMICALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A1/5402, Fourth Phase, GIDC, Vapi, Valsad-396195, Gujarat, India
Type of charge	Immovable Property
Particular of charge holder	Bank of India, Vapi Industrial Estate Branch, Plot No. CM/16, GIDC, Vapi-396195. Gujarat, India Email: boi_vapissi@satyam.net.in
Nature of description of the instrument creating or modifying the charge	Supplemental memorandum of deposit of title deeds
Date of instrument Creating the charge	20.06.2012
Amount secured by the charge	Rs.255.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest The terms and conditions remain same as stated in an Original Charge/Modified charge for Hypothecation. Terms of Repayment The terms and conditions remain same as stated in an Original Charge/Modified charge for Hypothecation. Margin The terms and conditions remain same as stated in an Original Charge/Modified charge for Hypothecation. Extent and Operation of the charge First and Exclusive charge on the Assets stated in FIRST SCHEDULE PART A, B and C for entire dues of the Company until fully repaid together with interest and costs.
Short particulars of the property charged	All that Piece and parcel of the immovable property at Plot No. A-1/5401 adm 2255 Sqm. and A-1/5402 adm 2705 Sqm. R.S.-412/P at GIDC IV Phase, GIDC Vapi, Tal. Pardi, District Valsad. All that Piece and parcel of the immovable property at Plot No. 2808 Ad. 3888 Sqm. R.S.-1/P, 113/P at GIDC III Phase, GIDC Vapi, Tal. Pardi, District Valsad.
Date of latest modification prior to the present modification	15.09.2010
Particulars of the present modification	The Original charge of Rs.202.200 Millions of Eq. Mortgage by Deposit of Title Deeds is enhanced to Rs.255.000 Millions as (additional) security for various facility on Company's immovable together with all buildings, Machineries and structures situated at Plot No. A-1/5401 adm 2255 Sqm. and A-1/5402 adm 2705 Sqm. R.S.-412/P at GIDC IV Phase, GIDC Vapi, Tal. Pardi, District Valsad and Plot No. 2808 Ad. 3888 Sqm. R.S.-1/P, 113/P at GIDC III Phase, GIDC Vapi, Tal. Pardi, District Valsad.

FIXED ASSETS:

• Leasehold Land
• Factory Building
• D.G. Sets
• Electrical installation
• Plant and Machinery
• Laboratory Equipments
• Vehicles
• Office Equipments
• Computer
• Effluent Treatment Plant

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 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 exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.32
UK Pound	1	Rs.84.60
Euro	1	Rs.72.63

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		35

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.