MIRA INFORM REPORT
|
Report Date : |
10.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
DEVYANI INTERNATIONAL LIMITED |
|
|
|
|
Formerly Known
As : |
UNIVERSAL ICE CREAMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-2/7, Okhla Industrial Area, Phase-I, New Delhi-110020 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.12.1991 |
|
|
|
|
Com. Reg. No.: |
55-046758 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.931.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15135DL1991PLC046758 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD5534A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Franchisee for Pizza Hut and KFC. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having a satisfactory track
record. Trade relations are reported as fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered for normal 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
F-2/7, Okhla Industrial Area, Phase-I, New Delhi-110020, |
|
Tel. No.: |
91-11-41706720/ 41706722 |
|
Fax No.: |
91-11-41706722/ 26813665 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Plot No.31, Institutional Area, Sector-44, Gurgaon – 122002,
Haryana, India |
DIRECTORS
As on: 20.07.2012
|
Name : |
Mr. Raj Pal Gandhi |
|
Designation : |
Director |
|
Address : |
P-2/ 50, DLF, Phase II, Gurgaon, |
|
Date of Birth/Age : |
07.06.1957 |
|
Date of Appointment : |
13.08.2007 |
|
DIN No.: |
00003649 |
|
|
|
|
Name : |
Mr. Ravinkant Jaipuria |
|
Designation : |
Director |
|
Address : |
Plot No. 7A, Aurangzeb Road, New Delhi – 110011, India |
|
Date of Birth/Age : |
28.11.1954 |
|
Date of Appointment : |
15.07.1996 |
|
DIN No.: |
00003668 |
|
|
|
|
Name : |
Mr. Prashant Purker |
|
Designation : |
Director |
|
Address : |
1C 1, Lloyd’s Garden, Appa Saheb Marathe Marg, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
|
Date of Birth/Age : |
05.07.1962 |
|
Date of Appointment : |
13.05.2011 |
|
DIN No.: |
00082481 |
|
|
|
|
Name : |
Mr. Virag Joshi |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. D- 810 8th Floor Block Ferrara, Mahagun Morpheus
Plot No. E-4, Sector- 50, Noida - 201300, Uttar Pradesh, India |
|
Date of Birth/Age : |
07.12.1963 |
|
Qualification : |
Diploma in Hotel Management |
|
Date of Appointment : |
10.11.2004 |
|
DIN No.: |
01821240 |
|
|
|
|
Name : |
Mr. Arjun Dass Verma |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. E-104 Park View City 2, Sohna Road, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
16.09.1954 |
|
Qualification : |
FCA, FCS |
|
Date of Appointment : |
10.11.2004 |
|
DIN No.: |
01821246 |
|
|
|
|
Name : |
Mr. Varun Jaipuria |
|
Designation : |
Director |
|
Address : |
Plot no.7A, Aurangzeb Road, New Delhi – 110011, India |
|
Date of Birth/Age : |
10.11.1987 |
|
Date of Appointment : |
13.11.2009 |
|
DIN No.: |
02465412 |
KEY EXECUTIVES
|
Name : |
Mr. Arjun Dass Verma |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. E-104 Park View City 2, Sohna Road, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
16.09.1954 |
|
Qualification : |
FCA, FCS |
|
Date of Appointment : |
01.06.2010 |
|
PAN No.: |
AAFPV1655H |
MAJOR SHAREHOLDERS
As on: 20.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ravi Kant Jaipuria and Sons (HUF) |
|
1711400 |
|
Jaipuria Varun |
|
7004726 |
|
Devyani Enterpirses Private Limited, India |
|
26752050 |
|
Devayani Overseas Private Limited, India |
|
13562200 |
|
D.J. Agri Industries Private Limited, India |
|
8600 |
|
R J Corp Limited, India |
|
32357500 |
|
Universal Dairy Products Private Limited, India |
|
1903524 |
|
IDBI Trusteeship Services Limited (India Advantage Fund S3-I), India |
|
9800000 |
|
Total |
|
93100000 |
Equity Share Break up (Percentage of Total Equity)
As on: 20.07.2012
|
Category |
Percentage |
|
Venture capital |
10.53 |
|
Bodies corporate |
80.11 |
|
Directors or relatives of Directors |
7.52 |
|
Others |
1.84 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Franchisee for Pizza Hut and KFC. |
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Products : |
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Brand Name : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
O.P. Bagla and Company Chartered Accountants |
|
Address : |
8/12, Kalkaji Extension, New Delhi-110019, |
|
Tel. No.: |
91-11-26436190/ 26412939/ 26239913 |
|
Fax No.: |
91-11-26239912 |
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E-Mail : |
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|
Website : |
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|
PAN No.: |
AAAFO1030A |
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|
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Associates: |
RJ Corp Limited |
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Subsidiaries/ Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
93100000 |
Equity Shares |
Rs.10/- each |
Rs.931.000
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 |
931.000 |
100.000 |
81.608 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1073.170 |
1108.860 |
657.373 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2004.170 |
1208.860 |
738.981 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
659.350 |
835.090 |
799.727 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
659.350 |
835.090 |
799.727 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
99.770 |
87.236 |
|
|
|
|
|
|
|
|
TOTAL |
2663.520 |
2143.720 |
1625.944 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2235.310 |
1830.590 |
1324.249 |
|
|
Capital work-in-progress |
26.630 |
70.580 |
41.774 |
|
|
|
|
|
|
|
|
INVESTMENT |
361.160 |
115.830 |
139.291 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
234.930
|
155.670 |
149.804 |
|
|
Sundry Debtors |
119.030
|
87.310 |
91.647 |
|
|
Cash & Bank Balances |
42.870
|
111.580 |
61.006 |
|
|
Other Current Assets |
47.57
|
26.59 |
0.000 |
|
|
Loans & Advances |
488.210
|
831.320 |
774.292 |
|
Total
Current Assets |
932.610
|
1212.470 |
1076.749 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
380.480
|
244.770 |
850.734 |
|
|
Other Current Liabilities |
474.250
|
811.040 |
69.085 |
|
|
Provisions |
37.460
|
29.92 |
36.300 |
|
Total
Current Liabilities |
892.190
|
1085.730 |
956.119 |
|
|
Net Current Assets |
40.420
|
126.740 |
120.630 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2663.520 |
2143.720 |
1625.944 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4880.480 |
3704.110 |
3788.371 |
|
|
|
Other Income |
21.630 |
97.46 |
37.105 |
|
|
|
TOTAL (A) |
4902.110 |
3801.570 |
3825.476 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1456.350 |
1080.780 |
3644.817 |
|
|
|
Purchase of Stock in Trade |
85.430 |
156.910 |
|
|
|
|
Change in Inventories |
0.000 |
34.820 |
|
|
|
|
Employee Benefit Expenses |
918.080 |
645.890 |
|
|
|
|
Other Expenses |
2035.600 |
1478.860 |
|
|
|
|
Exceptional and Extraordinary Items |
(0.460) |
25.61 |
|
|
|
|
TOTAL (B) |
4495.000 |
3422.870 |
3644.817 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
407.110 |
378.700 |
180.659 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
71.310 |
96.840 |
53.577 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
335.800 |
281.860 |
127.082 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
267.180 |
148.020 |
90.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
68.620 |
133.840 |
36.619 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(80.580) |
31.790 |
10.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
149.200 |
102.050 |
26.543 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
91.870 |
53.700 |
36.33 |
|
|
|
Management Fee |
9.940 |
7.360 |
6.01 |
|
|
|
Others |
28.950 |
24.750 |
20.46 |
|
|
TOTAL EARNINGS |
130.760 |
85.810 |
62.800 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Small Ware and Other Capital Goods |
82.750 |
34.180 |
11.510 |
|
|
|
Raw Materials |
17.540 |
14.470 |
12.730 |
|
|
|
Trading Goods |
0.000 |
10.580 |
9.29 |
|
|
TOTAL IMPORTS |
100.290 |
59.230 |
33.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.62 |
1.19 |
6.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.04
|
2.68 |
0.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.41
|
3.61 |
0.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.17
|
4.40 |
1.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.11 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.33
|
0.69 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.12 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U15135DL1991PLC046758 |
|
Name of the
company |
DEVYANI
INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
F-2/7, Okhla Industiral Area, Phase-I, New Delhi – 110020, Delhi, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
IDBI Bank
Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai – 400005, Maharashtra,
India CIN No.: L65190MH2004GOI148838 |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 26.04.2013 |
|
Date of
instrument Creating the charge |
26.04.2013 |
|
Amount secured by
the charge |
Rs.400.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest IDBI Base Rate
(BBR) plus 150 bps p.a. payable monthly (Presently Effective 11.75% p.a.). Terms of Repayment Repayment to be
made in 20 equal quarterly installments with first installment falling due on
March 31, 2014. Margin NIL Extent and Operation of the charge The whole of the Movable
Properties of the Borrower (both present and future) on first Pari Passu
charge basis |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The whole of the
movable properties of the Borrower including its movable plant and machinery,
machinery spares, tools and accessories and movables, both present and future
whether installed or not. |
FIXED ASSETS:
- Land
- Leasehold
Premises
- Plant and
machinery
- Furniture and
Fixture
- Electric
Fitting Appliances
- Office
Equipments
CMT REPORT [Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report Prepared by
: |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.