MIRA INFORM REPORT

Report Date :

23.02.2013

IDENTIFICATION DETAILS

Name :	DML EXIM PRIVATE LIMITED
Formerly Known As :	D M LAKHANI OVERSEAS PRIVATE LIMITED
Registered Office :	405, Embassy Tower, Opposite Jubilee Garden, Jawahar Road, Rajkot-360 001, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	07.09.1988
Com. Reg. No.:	04-011223
Capital Investment / Paid-up Capital :	Rs.19.363 Millions
CIN No.: [Company Identification No.]	U55100GJ1988PTC011223
TAN No.: [Tax Deduction & Collection Account No.]	RKTD00967B
PAN No.: [Permanent Account No.]	AABED8911B
Legal Form :	Private Limited Liability Company
Line of Business :	Exporter and Importer of all Agri Product
No. of Employees:	Information denied by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba ( 47)

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

Maximum Credit Limit :	USD 260000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Profitability is satisfactory. Trade relations are fair. Payments are slow but correct. The company can be considered as normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

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

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Chirag Harishkumar Lakhani
Designation :	Director
Contact No.:	91-281-2222991
Date :	06.12.2011

LOCATIONS

AS ON 30.09.2010

Registered Office :	405, Embassy Tower, Opposite Jubillee Garden, Jawahar Road, Rajkot-360001, Gujarat, India
Tel. No.:	91-281-2229183/ 229182/2240671/2222991
Fax No.:	91-281-2230505/2229643
E-Mail :	mjpassociates@gmail.com info@dmlakhani.com logistic@dmlgroup.com chirag@dmlgroup.in kaka@dmlakhani.com
Website :	www.dmlgroup.in
Area :	5000 Sq. Ft.
Location :	Owned
Corporate Office :	504, Venus Atlantis Corporate Park, Prahlad Nagar Road, Satellite, Near S.G Road, Ahmedabad - 380015. Gujarat, India
Tel No.:	91-79-40082011 / 40082012
Fax No.:	91-7940082014
Branch Office :	B-604, Sagar Tech plaza, Sakinaka Junction, Andheri (East), Mumbai-400 075, Maharashtra, India
E-Mail :	info@dmlakhani.com
Area :	800 Sq. Ft.

DIRECTORS

As on 30.09.2011

Name :	Mr. Harishkumar Jayantilal Lakhani
Designation :	Director
Address :	“Lakhani House”, Jalaram -2, Near Indira Statute, Opposite Gitanjali Apartment, University Road, Rajkot-360001, Gujarat, India
Date of Birth/Age :	13.05.1959
Date of Appointment :	12.05.2003

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U55100GJ1988PTC011223	DML Exim Private Limited	Director	12-05-03	12-05-03	-	Active	NO
2	U51100GJ2005PTC046358	DML World Trade Private Limited	Director	14-07-05	14-07-05	-	Active	NO
3	U51100GJ2005PTC046782	D.R.B. Commodities (India) Private Limited	Director	16-09-05	16-09-05	-	Active	NO

Name :	Mr. Chirag Harishkumar Lakhani
Designation :	Director
Address :	“Lakhani House”, Jalaram -2, Near Indira Statute, Opposite Gitanjali Apartment, University Road, Rajkot-360001, Gujarat, India
Date of Birth/Age :	23.08.1986
Date of Appointment :	11.09.2004

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U55100GJ1988PTC011223	DML Exim Private Limited	Director	11-09-04	11-09-04	-	Active	NO
2	U51100GJ2005PTC046358	DML World Trade Private Limited	Director	25-08-08	25-08-08	-	Active	NO
3	U27100GJ2011PTC066552	Aditya Ultra Steel Private Limited	Director	27-07-11	27-07-11	-	Active	NO

Name :	Mr. Darshan Harishkumar Lakhani
Designation :	Director
Address :	“Lakhani House”, Jalaram -2, Near Indira Statute, Opposite Gitanjali Apartment, University Road, Rajkot-360001, Gujarat, India
Date of Birth/Age :	23.08.1986
Date of Appointment :	11.09.2004

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U55100GJ1988PTC011223	DML Exim Private Limited	Director	11-09-04	11-09-04	-	Active	NO
2	U51100GJ2005PTC046358	DML World Trade Private Limited	Director	14-07-05	14-07-05	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Minaben Harishkumar Lakhani	181020
Narendrakumar Nanjibhai Davda	178000
Harishkumar Jayantilal Lakhani	190250
Dollyben Harishkumar Lakhani	190000
Prabhaben Jayantilal Lakhani	190000
Chiragbhai Harishkumar Lakhani	188500
Darshan Harishkumar Lakhani	190000
Bharatkumar Mathurdas Atari	4500
Jagdishkumar Kanjibhai Jobanputra	4500
Prafulkumar Mathurdas Atari	4500
Sureshkumar Mathurdas Atari	4500
Ajaykumar Pravinkumar Khimani	4500
Bhanumati Ratilal Jobanputra	4500
Bharatkumar G. Dave	4500
Dharmeshkumar Laxmidas Jobanputra	4500

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of directors	89.85
Other top fifty shareholders	10.15
Total	100.00

BUSINESS DETAILS

Line of Business :	Exporter and Importer of all Agri Product
No. of Employees:	Information denied by the management.
Terms :
Selling :	L/C and Cash (60 Days)
Purchasing :	L/C and Cash (60 Days)

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

Bankers :

· Oriental Bank of Commerce, Aum Planet, Ground Floor, Opposite Nirmala Convent School, Rajkot-360001, Gujarat, India

· ICICI Bank Limited, Rajkot

· Axis Bank Limited, Rajkot

Facilities :

Secured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Oriental Bank of Commerce overdraft	10.239	0.000
Oriental Bank of Commerce (FDBP)	0.000	41.143
Oriental Bank of Commerce (FDBP against L/C)	1187.469	455.331
Oriental Bank of Commerce (PC Limit)	216.123	240.000
ICICI Bank Limited (Secured by hypothecation of Car)	0.045	0.301
Axis Bank Limited Car Loan (Secured by hypothecation of Car)	0.316	0.000
Axis Bank Limited Honda Civic Car Loan (Secured by hypothecation of Car)	1.014	0.000
Total	1415.206	736.775

Unsecured Loans :	As on 31.03.2010 Rs. in Millions	As on 31.03.2009 Rs. in Millions
Deposits	21.134	1.224
Total	21.134	1.224

Banking Relations :	--
Auditors :
Name :	N. M Unadkat and Company Chartered Accountant
Address :	306-307, Everest Complex, Opposite Shastri Maidan, Subhash Road, Rajkot-360001, Gujarat, India
PAN :	AAFPU7460F
Associates/Subsidiaries :	· D M Enterprises · D M L World Trade Private Limited · D M L Exim Private Limited · D R B Commodities Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs/ 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1936270	Equity Shares	Rs. 10/- each	Rs.19.363 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		19.363	19.363	19.363
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		44.568	35.059	29.968
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		63.931	54.422	49.331
LOAN FUNDS
1] Secured Loans		1415.206	736.775	827.490
2] Unsecured Loans		12.134	1.224	1.244
TOTAL BORROWING		1427.340	737.999	828.734
DEFERRED TAX LIABILITIES		0.000	0.000	0.008
TOTAL		1491.271	792.421	878.073
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.137	5.035	5.568
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		4.000	0.000	3.357
DEFERREX TAX ASSETS		0.108	0.051	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	106.083	25.067	83.960
	Sundry Debtors	1299.867	593.770	762.221
	Cash & Bank Balances	27.629	17.748	81.583
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	185.110	189.027	92.596
Total Current Assets		1618.689	825.612	1020.360
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	117.158	28.465
	Other Current Liabilities	15.549	5.590	146.398
	Provisions	4.956	4.222	4.814
Total Current Liabilities		137.663	38.277	151.212
Net Current Assets		1481.026	787.335	869.148
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1491.271	792.421	878.073

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	5158.730	2520.202	3663.455
		Other Income	189.794	105.394	97.491
		TOTAL (A)	5348.524	2625.596	3760.946
Less	EXPENSES
		Cost of Goods sold	4943.205	2291.527
		Direct Expenses	96.530	46.979
		Salary and Benefits to Staff	2.936	2.815
		Remuneration and Benefits to Directors	0.190	0.248	3721.052
		Administration, Selling and General Expenses	245.117	229.247
		Prior period adjustments	0.000	0.208
		TOTAL (B)	5287.978	2571.024	3721.052
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		60.516	54.572	39.934
Less	FINANCIAL EXPENSES (D)		45.404	44.113	26.624
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.112	10.459	13.310
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.772	0.652	0.559
	PROFIT BEFORE TAX (E-F) (G)		14.370	9.807	12.711
Less	TAX (H)		4.844	4.147	4.918
	PROFIT AFTER TAX (G-H) (I)		9.526	5.660	7.918
	SHORT PROVISION FOR EARLIER YEAR INCOME TAX		(0.016)	0.570	NA
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		21.736	16.645	NA
	BALANCE CARRIED TO THE B/S		31.246	21.736	NA
	EARNINGS IN FOREIGN CURRENCY		5071.8001	2112.712	NA
	Earnings Per Share (Rs.)		4.92	-	-

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.18	0.16	0.21
Net Profit Margin (PBT/Sales)	(%)	0.27	0.39	0.35
Return on Total Assets (PBT/Total Assets}	(%)	0.88	1.18	1.24
Return on Investment (ROI) (PBT/Networth)		0.22	0.18	0.26
Debt Equity Ratio (Total Liability/Networth)		24.48	14.26	19.86
Current Ratio (Current Asset/Current Liability)		11.76	21.57	6.75

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	Yes
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	--
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	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
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)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

NOTE:

The Registered office of the company has been shifted from Shop No. E-19, Marketing Yard, Rajkot-360 003, Gujarat, India to present address w.e.f. 02.01.2006

REVIEW OF PERFORMANCE AND BUSINESS PROSPECTS:

During the year under report, the aggregate sales of the company has been considerably increased to Rs.5158.730 millions from Rs. 2520.202 millions as compared to the last year showing rise of about 104% (approx. fig). The Management considering the results assures the members that the sustained efforts will be made to maintain consistency in the attained results thereby improving the financial structure of the company.

FORM 8:

Corporate identity number of the company	U55100GJ1988PTC011223
Name of the company	DML EXIM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	405, Embassy Tower, Opposite Jubillee Garden, Jawahar Road, Rajkot-360001, Gujarat, India E-mail : kaka@dmlakhani.com
This form is for	Modification of charge
Charge identification number of the modified	90099994
Type of charge	Book Debts Immovable Property Floating Charge Others (Stock in trade)
Particular of charge holder	Oriental Bank of Commerce, Aum Planet, Ground Floor, Opposite Nirmala Convent School, Rajkot-360001, Gujarat, India E-Mail : bm0556@obc.co.in
Nature of description of the instrument creating or modifying the charge	INSTRUMENT MODIFYING CHARGE: Supplemental Agreement to secure Credit/Loan Facilities
Date of instrument Creating the charge	28.10.2011
Amount secured by the charge	Rs.3.567 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest FDBP/FUDBP: Base Rate + 1.255 Foreign Bills purchase under LOC: Base Rate + 1.25% CC (Sub-Limit): Base Rate + 3% Packing Credit (Sub-Limit): Base Rate +1% Terms of Repayment FDBP/FUDBP: One Year Forward Contract Limit : One year Foreign Bill purchase under LOC: 180 Days Packing Credit (Sub-Limit of FDBP/FUDBP/FCBRD): One year Cash Credit : (Sub-Limit of FDBP/FUDBP): One Year Margin Forward Contract Limit : 5% by way of duty discharged FDR/CDR in favor of Bank along with interest accrued thereon. Packing Credit (Sub-Limit of FDBP/FUDBP): 20% Cash Credit (Sub-Limit of FDBP/FUDBP): 25 % Extent and Operation of the charge The Charge operates to extend security by way of Hypothecation of Assets of the company in favour of Oriental Bank of Commerce, Rajkot to secure entire finance of Rs.3567.500 Millions granted to company in addition to all costs interest and other expenses.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Foreign Documentary Demand/Usance Bill having maximum usance of 180 days accompanied by Airway Bills/Bill of lading and drawn under irrecoverable letter of Credit/confirmed order Hypothecation of stock in trade not older than six month and advances to suppliers and receivables Hypothecation of stock of raw material, stock in process, finished goods and spares. Forward contract limit to be secured by primary/collateral security.
Date of latest modification prior to the present modification	06.11.2009
Particulars of the present modification	Total Finance facilities granted to company has been enhanced from Rs.230.000 Millions to Rs3567.500 Millions by way of hypothecation of assets of the company bifurcated as under. FDBP/FUDBP: Rs.1000.000 Millions Packing Credit (Sub-Limit of FDBP/FUDBP): Rs.750.000 Millions CC – Hypothecation (Sub-Limit of FDBP/FUDBP): Rs.100.000 Millions Forward Contract Limit :Rs.67.500 Millions Foreign Bill purchase under LOC: Rs.2500.000 Millions

FIXED ASSETS:

· Computer

· Air Conditioner

· Attandace Recording Machine

· Mobile

· Furniture

· Electric Installation

· Mumbai Office

· Furniture and Fixtures

· Fax Machine

· Fire Extinguisher

· Parking Place

· Printer

· Tejuri

· Cycle

· UPS

· Scorpio Car

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.54.43
UK Pound	1	Rs.83.20
Euro	1	Rs.71.91

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.