MIRA INFORM REPORT
|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT PICKERS INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
404/405 Atlanta Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross
Road, Ahmedabad - 380009, Gujarat |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
31.08.2001 |
|
|
|
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Com. Reg. No.: |
04-039959 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.940
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209GJ2001PLC039959 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading Activities. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Eventhough the net profit has increased, net sales turnover has seen a
dip during 2012. External borrowing appears to be huge which act as a threat
to the liquidity. However, trade relations are fair. Business is active. Payment terms
are 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB- (Long Term Borrowing) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
01.10.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Borrowing) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
01.10.2012 |
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.
LOCATIONS
|
Registered Office : |
404/405 Atlanta Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross
Road, Ahmedabad - 380009, Gujarat,
India |
|
Tel. No.: |
91-79-26421810 / 11 / 12 |
|
Fax No.: |
91-79-26560334/ 26564649 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Ratibhai Makwana |
|
Designation : |
Director |
|
Address : |
8, Satkar Society, Near Azad Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
15.03.1945 |
|
Date of Appointment : |
24.11.2004 |
|
DIN No.: |
00175776 |
|
|
|
|
Name : |
Mr. Vasantkumar Makwana |
|
Designation : |
Director |
|
Address : |
570/1, Mafatnagar, Bhavnagar – 364006, Gujarat, India |
|
Date of Birth/Age : |
15.05.1959 |
|
Date of Appointment : |
31.08.2001 |
|
DIN No.: |
00184796 |
|
|
|
|
Name : |
Mr. Pratik Mohanlal Solanki |
|
Designation : |
Additional Director |
|
Address : |
23, Hans Residency, Near Anand Nagar Flats, Prahlad Nagar, Ahmedabad -
380051, Gujarat, India |
|
Date of Birth/Age : |
20.01.1987 |
|
Date of Appointment : |
11.09.2012 |
|
DIN No.: |
06378745 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ratilal Galabhai Makwana |
|
7247 |
|
Vimal Mohanlal Makwana |
|
294314 |
|
Kamlaben Ratilal Makwana |
|
154104 |
|
Minaxiben Vasant Rai Makwana |
|
256121 |
|
Vasantrai Galabhai Makwana |
|
1062660 |
|
Mukeshbhai Ratilal Makwana |
|
2313 |
|
Bhanwarlal Jain (HUF) |
|
4500 |
|
Ponkharaj Bhanwarlal Jain |
|
17000 |
|
Sureshkumar Gopilal |
|
6500 |
|
Vidhyadevi Ponkhraj Jain |
|
6250 |
|
Amrutbhai Galabhai Makwana |
|
120000 |
|
Dollyben Chiragbhai Makwana |
|
20000 |
|
Pratik M. Solanki |
|
841858 |
|
Jasumatiben N Chauhan |
|
242570 |
|
Kalpanaben R Makwana |
|
5000 |
|
M. D. Solanki |
|
17666 |
|
Narendrabhai H Chauhan |
|
3500 |
|
Veenaben P Chavda |
|
32137 |
|
Hansaben M Makwana |
|
10000 |
|
Nivedita Makwana |
|
90000 |
|
Manish Babulal Amin |
|
300 |
|
Total |
|
3194040 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
98.93 |
|
Other top fifty shareholders |
1.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading Activities. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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|
|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Surana Maloo and Company Chartered Accountants |
|
Address : |
404, 4th Floor, Shaival Plaza, Ellisbridge, Ahmedabad – 380006,
Gujarat, India |
|
Tel. No.: |
91-79-26420336/ 7/ 9 |
|
Fax No.: |
91-79-26424100 |
|
PAN No.: |
AAHFS7809J |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3194040 |
Equity Shares |
Rs.10/- each |
Rs.31.940
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 |
31.940 |
31.940 |
30.590 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
34.978 |
29.401 |
23.004 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
66.918 |
61.341 |
53.594 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
259.801 |
103.514 |
106.756 |
|
|
2] Unsecured Loans |
9.113 |
8.253 |
8.979 |
|
|
TOTAL BORROWING |
268.914 |
111.767 |
115.735 |
|
|
DEFERRED TAX LIABILITIES |
0.186 |
0.160 |
0.070 |
|
|
|
|
|
|
|
|
TOTAL |
336.018 |
173.268 |
169.399 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.458 |
3.984 |
3.630 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.070
|
13.559 |
15.990 |
|
|
Sundry Debtors |
302.220
|
141.908 |
137.853 |
|
|
Cash & Bank Balances |
14.237
|
9.608 |
3.804 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
11.199
|
12.852 |
20.889 |
|
Total
Current Assets |
342.726
|
177.927 |
178.536 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.360
|
4.797 |
8.034 |
|
|
Other Current Liabilities |
2.455
|
1.937 |
4.005 |
|
|
Provisions |
0.351
|
1.909 |
0.728 |
|
Total
Current Liabilities |
11.166
|
8.643 |
12.767 |
|
|
Net Current Assets |
331.560
|
163.284 |
165.769 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
336.018 |
173.268 |
169.399 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
204.685 |
316.466 |
741.227 |
|
|
|
Other Income |
16.168 |
2.039 |
0.123 |
|
|
|
TOTAL (A) |
220.853 |
318.505 |
741.350 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock in trade |
162.258 |
|
719.582 |
|
|
|
Changes in inventories of finished goods work in progress and stock in
trade |
(1.511) |
2.431 |
|
|
|
|
Purchase Expenses |
19.050 |
22.546 |
|
|
|
|
Administrative, Selling and Distribution Expenses |
4.273 |
5.650 |
|
|
|
|
Employee Benefit Expenses |
2.133 |
2.078 |
|
|
|
|
TOTAL (B) |
186.203 |
295.619 |
719.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.650 |
22.886 |
21.768 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.927 |
15.955 |
16.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.723 |
6.931 |
5.688 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.540 |
0.469 |
0.416 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.183 |
6.462 |
5.272 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.526 |
2.225 |
1.559 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
0.077 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.578 |
4.237 |
3.713 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.333 |
9.096 |
5.883 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.000 |
0.500 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
13.333 |
9.096 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.75 |
0.33 |
1.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.53
|
1.33 |
0.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.99
|
2.04 |
0.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.36
|
3.55 |
2.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.10 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.02
|
1.82 |
2.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
30.69
|
20.59 |
13.98 |
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 |
No |
|
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 |
Yes |
Note:
The Registered Office of the company has been shifted from 405/406 Atlanta
Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross Road, Ahmedabad - 380009, Gujarat, India to the present address
w.e.f. 31.03.2012
FINANCIAL RESULTS:
During the year the company has earned a
profit of Rs.5.578 Millions as compared to
profit of Rs.4.237 Millions for the previous year.
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWING |
|
|
|
Loans repayable
on demand From Directors. |
|
|
|
Makwana Ratibhai Galabhai |
0.162 |
3.120 |
|
Makwana Vasantbhai Galabhai |
0.446 |
0.000 |
|
From Others |
8.505 |
5.133 |
|
Total |
9.113 |
8.253 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U23209GJ2001PLC039959 |
|
Name of the
company |
GUJARAT PICKERS
INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
404/405 Atlanta Complex, Gulbai Tekra Ambawadi, Near Panchvati Cross Road, Ahmedabad – 380009, Gujarat, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10386329 |
|
Type of charge |
Book debts |
|
Particular of
charge holder |
State Bank Of India, Madhupura Branch, Advani Market, Ahmedabad – 380004, Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental agreement of loan cum hypothecation sme-4 dated 01st January, 2013 |
|
Date of
instrument Creating the charge |
01.01.2013 |
|
Amount secured by
the charge |
Rs.450.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate of 0.25% margin + the Base Rate, payable at monthly rests Terms of Repayment 45 days including
grace period extended by IOCL. The cover period of 45 days for receivables
would be extended only in respect of buyers not other than IOCL. Receivables
beyond 45 days will not be reckoned for computing drawing power. Drawing
power will also not be available on unpaid stocks. All the working facilities
are payable on demand Margin NIL Extent and Operation of the charge To cover entire
credit facilities granted by the Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation charge
of receivables for which invoices has been raised on the customers on account
of consignment sales of IOCL |
|
Particulars of
the present modification |
The earlier
charge of Rs. 200.000 Millions has been extended to Rs. 450.000 Millions as per
the following Facilities : 1. Cash credit
under EDFS Scheme - from earlier Rs. 200.000 Millions to Rs. 365.000
Millions, 2. Bank Guarantee
- from earlier Rs.(20.000 Millions) to Rs. 85.000 Millions |
FIXED ASSETS:
- Building
- Furniture and Fixtures
- Machinery
- Office Equipments
- Motor Car
- Scooter
- Computer
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.58.93 |
|
|
1 |
Rs.91.81 |
|
Euro |
1 |
Rs.78.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.