MIRA INFORM REPORT

Report Date :

11.02.2013

IDENTIFICATION DETAILS

Name :	STERLING AUXILIARIES PRIVATE LIMITED

Registered Office :	Plot No. 30/31, Marol Co-Operative, Industrial Estate, M.V Road, Andheri (East), Mumbai – 400 059, Maharashtra

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	25.07.1985

Com. Reg. No.:	11-036959

Capital Investment / Paid-up Capital :	Rs. 9.817 millions

CIN No.: [Company Identification No.]	U74999MH1985PTC036959

TAN No.: [Tax Deduction & Collection Account No.]	MUMS42830E

PAN No.: [Permanent Account No.]	AAAC5916Q

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, Exporter and Importer of Chemical Auxiliaries.

No. of Employees :	Information denied by Management.

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1187000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. Latest financials i.e. 2011-12 are missing from the Government department. From the available financials of 2011 the company seems to be performing well. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual trade terms and condition.

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

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. Shiva
Designation :	Accounts Department
Contact No.:	91-22-40320000
Date :	06.02.2013

LOCATIONS

Registered Office / Factory :	Plot No. 30/31, Marol Co-Operative, Industrial Estate, M.V Road, Andheri (East), Mumbai – 400 059, Maharashtra
Tel. No.:	91-22-40320000 / 40320198
Fax No.:	91-22-28597892
E-Mail :	gksalian@artekchemicals.com

Factory 1:	L-3, Navapur Road, M.I.D.C, Tarapur , Boisar – 401506 , India
Tel. No.:	91-952525-325557
Fax No.:	91-952525-271317

Factory 2:	Plot No. 12/A-2, G.I.D.C., At PO: Dahej, Taluka – Vagra, District Bharuch, Gujarat – 392 130, India

DIRECTORS

As on 30.09.2011

Name :	Mr. Anish Rajendra Goenka
Designation :	Director
Address :	Plot No. 20, Vinayak Kunj, 12^th Road, Jai Hind Society, JVPD Scheme, Vile Parle (West), Mumbai – 400 049 , Maharashtra, India
Date of Birth/Age :	04.06.1977
Date of Appointment :	05.10.2000
DIN No.:	00016688

Name :	Mr. Ajit Kantilal Parekh
Designation :	Chairman Cum Managing Director
Address :	E - Asamit, Bajaj Road, Vile Parle (West), Mumbai – 400 049, Maharashtra, India
Date of Birth/Age :	30.12.1949
Date of Appointment :	24.06.1986
DIN No.:	00163710

Name :	Mr. Sandeep Omprakash Chokhani
Designation :	Director
Address :	24, Chandabala, M. G. Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India
Date of Birth/Age :	03.05.1972
Date of Appointment :	17.01.2010
DIN No.:	02346782

KEY EXECUTIVES

Name :	Mr. Shiva
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares

Sunil Beniprasad Goenka		657
Rajendra Beniprasad Goenka		8203
Anish Goenka Rajendra		9167
Anuj Sushilkumar Goenka		8937
Rajendra Beniprasad Goenka (H.U.F)		6197
Amit Rajendra Goenka		9267
Artek Surfin Chemicals Limited, India		15667
Anjanadevi Sunil Goenka		8913
Sushila Sushilkumar Goenka		6167
Ajit Kantilal Parekh		1
Asha Rajendra Goenka		6167
Sejal Vishal Goenka		6496
Payal Amit Goenka		6167
Smriti Anuj Goenka		6161

TOTAL		98167

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	15.96
Directors or relatives of Directors	39.70
Other top fifty shareholders	44.34
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Chemical Auxiliaries.

Exports :
Products :	Finished Goods
Countries :	· Turkey · Brazil

Imports :
Products :	Raw Materials
Countries :	· Singapore · Thailand

Terms :
Selling :	L/C / Cash

Purchasing :	L/C / Cash

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Oxide Condensates	Mtrs	20000	30000	22300669

GENERAL INFORMATION

Customers :

Wholesalers and End Users

No. of Employees :

Information denied by Management.

Bankers :

· Citi Bank N.A, Citi Group Center , Bandra Kurla Complex, G-Block, Bandra (East), Mumbai – 400 051, Maharashtra, India

Tel. No.: 91-22-40015160

· The Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India

· Yes bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee Term Loans Banks	0.000	10.877
Working Capital Loans Banks	368.163	336.223
Total	368.163	347.100


Banking Relations :	--

Auditors :
Name :	ASL and Company Chartered Accountant
Address :	102, Gauresh Apartment, Agarkar Chowk, Old Police Lines , Andheri (East), Mumbai – 400 069, Maharashtra, India
PAN No.:	AAAFC1257B

Associates/Subsidiaries :	Kawaken Sterling Surfactants Private Limited Address: Andheri (East), Mumbai – 400 059, Maharashtra, India Line of Business: Manufacturer, Exporter and Importer of Chemical Auxiliaries. CIN No.: U24296MH2007PTC175631

Enterprises over which key management personnel / their relatives , have significant influence and where transaction have taken place :	· Artek Surfin Chemicals Limited · Artek Home Care Private Limited · Omtech Chemical Industries Private Limited · Triumph Non Ionics Private Limited · AG Technologies Private Limited · Texport Syndicate (India) Limited · Superstar Speciality Chemicals (India) Private Limited · Artek Exports Private Limited · Kawaken Sterling Surfactants Private Limited

CAPITAL STRUCTURE

As on 30.09.2011

Authorized Capital:

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs. 100/- each	Rs. 50.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

98167	Equity Shares	Rs. 100/- each	Rs. 9.817 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		9.817	9.679	1.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		287.160	198.759	116.930
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		296.977	208.438	118.030
LOAN FUNDS
1] Secured Loans		368.163	347.100	318.885
2] Unsecured Loans		285.246	237.054	124.822
TOTAL BORROWING		653.409	584.154	443.707
DEFERRED TAX LIABILITIES		29.678	26.998	20.217

TOTAL		980.064	819.590	581.954

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		250.530	278.599	280.229
Capital work-in-progress		54.532	46.824	1.406

INVESTMENT		29.902	29.430	11.131
DEFERRED TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	271.844	170.895	91.430
	Sundry Debtors	399.944	382.640	203.719
	Cash & Bank Balances	19.872	24.680	17.313
	Other Current Assets	143.203	123.552	0.000
	Loans & Advances	113.584	73.594	144.471
Total Current Assets		948.447	775.361	456.933
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	123.178	146.116	71.755
	Other Current Liabilities	77.648	100.063	92.629
	Provisions	102.521	64.445	3.361
Total Current Liabilities		303.347	310.624	167.745
Net Current Assets		645.100	464.737	289.188

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		980.064	819.590	581.954

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2281.237	1875.367	1780.959
		Other Income	24.473	48.295	65.242
		TOTAL (A)	2305.710	1922.469	1846.201

Less	EXPENSES
		Increase / (Decrease) in stock
		Labour Charges
		TOTAL (B)	2146.651	1751.261	1708.957

Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		159.059	171.208	137.244

Less	FINANCIAL EXPENSES (D)		34.751	21.647	24.437

	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		124.308	149.561	112.807

Less/ Add	DEPRECIATION/ AMORTISATION (F)		12.689	13.517	11.713

	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		136.997	136.044	101.094

Less	TAX (H)		46.747	47.481	30.668

	PROFIT/(LOSS) AFTER TAX (G-H) (I)		90.250	88.563	70.426

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		170.598	88.769	NA

Less	APPROPRIATIONS
		Capitalized for issue of Bonus Issue	0.138	6.734
		Transfer to General Reserve	5.000	0.000
		Proposed Dividend	1.475	0.000
		Additional on Tax Dividend	0.239	0.000
	BALANCE CARRIED TO THE B/S		253.999	170.598	NA

	EARNINGS IN FOREIGN CURRENCY		908.562	543.483	814.060

	Earnings/(Loss) Per Share (Rs.)		919.35	915.02	727.63

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.91	4.61	3.81

Net Profit Margin (PBT/Sales)	(%)	6.00	7.25	5.67

Return on Total Assets (PBT/Total Assets}	(%)	11.43	12.90	13.71

Return on Investment (ROI) (PBT/Networth)		0.46	0.65	0.85

Debt Equity Ratio (Total Debt/Networth)		2.20	2.80	3.76

Current Ratio (Current Asset/Current Liability)		3.13	2.49	2.72

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

Particulars	31.03.2011	31.03.2010	31.03.2009
	(Rs. In Millions)
Creditors due others	123.178	146.116	71.755

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	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	Yes
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	----
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Note:

The registered office of the company has been shifted from 301, Marol Bhavan, Marol Industrial Estates, Marol, Andheri (East), Mumbai – 400 059, Maharashtra, India to the present address w.e.f. 01.03.2007

UNSECURED LOAN:

(Rs. in Millions)

Particulars	As on 31.03.2011	As on 31.03.2010

Deposits related parties	272.265	224.073
Deferred sales tax loan	12.981	12.981

Total	285.246	237.054

Joint venture with kawaken fine chemicals company limited and formation of subsidiary company.

The Company has infused more funds in to a joint venture agreement with Kawaken Fine Chemicals Company Limited (Japan), Manufacturers of Surfactants, Catalysis and Speciality Chemicals, Accordingly a Joint Venture Company named as Kawaken Sterling Surfactants Private Limited has been incorporated with total authorised capital of Rs. 150.000 millions divided in to 1,50,00,000 equity shares of Rs.10/- each. With need for further development of the subsidiary Company has decided to increase its Paid up share capital in subsidiary with Rs. 29.000 millions divided in to 29,00,000 equity shares of Rs. 10/- each. the Company have to subscribe with Rs. 1,74,00,000/- divided in to 17,40,000 equity shares of Rs.10/- each. (60.00% of the paid up capital of the joint venture company) Out of which the company till date have made application worth Rs. 6.500 millions and balance Rs. 10.900 millions to be applied in near future and that of Kawaken Fine Chemicals Company Ltd. has applied 11.600 millions (40.00% of the paid up capital of the joint venture company) Thus the joint venture company is formed as a subsidiary of the Company (Sterling Auxiliaries Private Limited).

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74999MH1985PTC036959
Name of the company	STERLING AUXILIARIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 30/31, Marol Co-Operative Industrial Estate, Off. M. V. Road, Marol, Andheri (East), Mumbai – 400 059, Maharashtra, India e-mail: gksalian@artekchemicals.com
This form is for	Modification of charge
Charge identification number of the modified	10115272
Type of charge	Book Debts Movable Property S and R and All Moveable Fixed Assets including PLM
Particular of charge holder	The Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	Second Supplemental Deed of Hypothecation for S and R and all movable fixed assets including PLM dated 06th January, 2012.
Date of instrument Creating the charge	06.01.2012
Amount secured by the charge	Rs. 275.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest shall be payable by the Company on the banking facilities as per Bank's tariff, subject however that the Bank shall have the right to change the rate of interest after giving notice to Company Terms of Repayment In Consideration of Banking facilities sanctioned/to be sanctioned by the bank to the company, the company has hypothecated and charged to the bank by way of first pari passu charge on Stocks, book debts both present and future and Plant and machinery and other movable fixed assets both present and future as a continuing security, as mentioned in Deed of Hypothecation to secure the repayments of the advances together with interest cost and all other charges. Margin The company shall maintain such margin as may be specified by the Bank from time to time. Extent and Operation of the charge In case the Company (Sterling Auxiliaries Private Limited) fails to fulfill its obligations under the agreement, the bank shall be entitled to take possession of the hypothecated properties and sell them by public auction or private contract and utilize the proceeds in full or part settlement of its claims.
Short particulars of the property charged	First pari passu charge on Stocks, both present and future and Plant and machinery all and other movable fixed assets both present and future located at L-3 Navapur Road, MIDC, Tarapur - Boisar. First pari passu charge on Stocks, both present and future and Plant and machinery and all other movable fixed assets both present and future located at 12 A/2 GIDC, Dahej District Bharuch - Gujarat. First pari passu charge on Book Debts both present and future.
Date of latest modification prior to the present modification	08.10.2009
Particulars of the present modification	The present modification is being done to increase the charge over Stocks, book debts both present and future and Plant and machinery and other movable fixed assets both present and future from Rs. 150.000 millions to Rs. 275.000 millions in the manner and on the terms and conditions hereinafter contained in Principal Deed of Hypothecation / Supplemental Deed of Hypothecation.

FIXED ASSETS:

Lease Hold Land
Factory Building
Electrical Fittings
Plant and Machinery
Electrical Installation
Furniture and Fixture
Air Conditioners
Computers
Equipment
Vehicles

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 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.53.57
UK Pound	1	Rs.84.25
Euro	1	Rs.71.79

INFORMATION DETAILS

Information Gathered by :	PLK

Report Prepared by :	NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.

MIRA INFORM REPORT

271.844

399.944

19.872

143.203

113.584

948.447

123.178

77.648

102.521

303.347

645.100

3.91

6.00

11.43

0.46

2.20

3.13

Unit