MIRA INFORM REPORT

Report Date :

28.03.2013

IDENTIFICATION DETAILS

Name :	RUDRANI HEALTH CARE SERVICES LIMITED (w.e.f.07.07.2009)
Formerly Known As :	RUDRANI HEALTH CARE SERVICES PRIVATE LIMITED
Registered Office :	267/3, Anand Mayee Marg, Udgir, Latur--413517, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	14.11.2008
Com. Reg. No.:	11-188222
Capital Investment / Paid-up Capital :	Rs. 84.818 Millions
CIN No.: [Company Identification No.]	U85100MH2008PLC188222
TAN No.: [Tax Deduction & Collection Account No.]	NSKR03411C NSKR03891G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is providing Medical Services
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	As per the available financial detail of 2012. It appears that company is yet to commence it commercial activity. The company has recorded some pre-operative expenses in 2012. The management has denied disclosing any information about the company. The promoters seem to be experience and however, net worth of the company appears to be good. Payment terms are unknown. The company can be considered for business dealings with great 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 – 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Suspended
Rating Explanation	Its rating due to lack of information
Date	December 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 :	267/3, Anand Mayee Marg, Udgir, Latur-413517, Maharashtra, India
Tel. No.:	91-23-85255444
Fax No.:	Not Available
E-Mail :	lifecarehospital_9@yahoo.com

DIRECTORS

AS ON 29.09.2012

Name :	Ms. Archana Shaliesh Patil
Designation :	Director
Address :	Basweshwar Colony, Latur-413512, Maharashtra, India
Date of Birth/Age :	19.01.1971
Date of Appointment :	14.11.2008
PAN No.:	AMNPP2505Q
DIN No.:	01388433

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1998PLC093790	NV DISTILLERIES LIMITED.	Director	27/10/2005	27/10/2005	23/07/2009	Active	NO
2	U85100MH2008PLC188222	RUDRANI HEALTH CARE SERVICES LIMITED	Director	14/11/2008	14/11/2008	-	Active	NO

Name :	Mr. Yogiraj Vaijinath Chidre
Designation :	Whole Time Director
Address :	Yashwant Society, To Udgir, Distrust Latur-413517, Maharashtra, India
Date of Birth/Age :	02.06.1972
Date of Appointment :	14.11.2008
PAN No.:	AEIPC0506K
DIN No.:	02220589
Name :	Mr. Milind Vyaskumar Ghanpathi
Designation :	Additional Director
Address :	Dr. Ambedkar Chowk, To Udgir, District Latur-413517, Maharashtra, India
Date of Birth/Age :	11.01.1973
Date of Appointment :	01.03.2011
PAN No.:	AJUPG0394C
DIN No.:	02220688
Name :	Mr. Subhash Laxmanrao Mustapure
Designation :	Director
Address :	01, Mustapure Hospital, Yeshwant Society, Udgir, Latur-413517, Maharashtra, India
Date of Birth/Age :	02.04.1973
Date of Appointment :	01.04.2010
DIN No.:	02220704

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U85100MH2008PLC188222	RUDRANI HEALTH CARE SERVICES LIMITED	Director	30/09/2010	01/04/2010	Active	NO

Name :	Mr. Dhanraj Manoharrao Mule
Designation :	Director
Address :	P M Bukke, Sarvodya Society, H No.21, Udgir-413517, Maharashtra, India
Date of Birth/Age :	26.02.1971
Date of Appointment :	01.04.2010
PAN No.:	ABIPY6967H
DIN No.:	02220807

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U85100MH2008PLC188222	RUDRANI HEALTH CARE SERVICES LIMITED	Director	30/09/2010	01/04/2010	Active	NO

Name :	Mr. Basavaraj Ramakant Malshette
Designation :	Director
Address :	Opposite Shraddha ICU Gayatri Pathology Lab, Mondha Road, Udgir, Latur-413517, Maharashtra, India
Date of Birth/Age :	12.09.1974
Date of Appointment :	01.04.2010
PAN No.:	ANUPM1833C
DIN No.:	02220821

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U85100MH2008PLC188222	RUDRANI HEALTH CARE SERVICES LIMITED	Director	30/09/2010	01/04/2010	Active	NO

Name :	Mr. Mangesh Manoharrao Yernale
Designation :	Whole Time Director
Address :	Amberkhane Building, Degloor Road, Indumati Hospital, Udgir, District Latur-413517, Maharashtra, India
Date of Birth/Age :	11.09.1974
Date of Appointment :	14.11.2008
DIN No.:	02220834
Name :	Mr. Shailesh Rambhai Yerolkar Makne
Designation :	Director
Address :	Yerol, To Shirpur Anatpal, District Latur-413530, Maharashtra, India
Date of Birth/Age :	07.08.1972
Date of Appointment :	01.04.2010
PAN No.:	AAHPY0744N
DIN No.:	02220900

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U85100MH2008PLC188222	RUDRANI HEALTH CARE SERVICES LIMITED	Director	30/09/2010	01/04/2010	Active	NO

Name :	Mr. Anand Shivajirao Ashture
Designation :	Additional Director
Address :	Opposite Dudhi Hanuman A/P Udgir, District Latur, Maharashtra, India
Date of Birth/Age :	26.01.1974
Date of Appointment :	01.03.2011
PAN No.:	AESPA9253M
DIN No.:	03460199
Name :	Mr. Tanaji Shivajirao More
Designation :	Additional Director
Address :	Ghachake House, Uday Road, To Udgir, Nanded Naka, Latur-413517, Maharashtra, India
Date of Birth/Age :	05.05.1975
Date of Appointment :	01.03.2011
PAN No.:	AIEPM8475H
DIN No.:	03469938

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Note: Shareholder details file attached.

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	13.46
Other top fifty shareholders	86.54
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Subject is providing Medical Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Bank of Maharashtra, Udgir Branch, Latur-413517, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Term loans from Banks	50.000	0.000
TOTAL	50.000	0.000

Banking Relations :	--
Auditors :
Name :	S H Kocheta and Associates Chartered Accountant
Address :	H No.R-6-501, Darda Complex, Subhash Chowk, Latur-413512, Maharashtra, India
PAN No.:	ACHPK1836H

CAPITAL STRUCTURE

AFTER 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs. 80.000 Millions
9000000	Preference Shares	Rs.10/- each	Rs. 90.000 Millions
	TOTAL		Rs. 170.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7437449	Equity Shares	Rs.10/- each	Rs. 74.374 Millions
4618850	Preference Shares	Rs.10/- each	Rs. 46.189 Millions
	TOTAL		Rs. 120.563 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs. 80.000 Millions
9000000	Preference Shares	Rs.10/- each	Rs. 90.000 Millions
	TOTAL		Rs. 170.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4068500	Equity Shares	Rs.10/- each	Rs. 40.685 Millions
4322950	Preference Shares	Rs.10/- each	Rs. 43.229 Millions
180800	Preference Shares	Rs.5/- each	Rs. 0.904 Millions
	TOTAL		Rs. 84.818 Millions

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs. 80.000 Millions
9000000	Preference Shares	Rs.10/- each	Rs. 90.000 Millions
	TOTAL		Rs. 170.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 122.887 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		84.818	43.630	5.530
2] Share Application Money		0.000	1.157	2.920
3] Reserves & Surplus		(2.739)	(0.132)	0.000
4] (Accumulated Losses)		0.000	0.000	(0.128)
NETWORTH		82.079	44.655	8.322
LOAN FUNDS
1] Secured Loans		50.000	0.000	0.000
2] Unsecured Loans		6.800	0.000	0.000
TOTAL BORROWING		56.800	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		138.879	44.655	8.322
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.910	4.477	3.834
Capital work-in-progress		137.087	24.180	2.400
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	1.235	1.175	0.599
	Other Current Assets	0.000	11.270	0.011
	Loans & Advances	0.561	11.453	0.000
Total Current Assets		1.796	23.898	0.610
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	4.599	7.737	0.000
	Provisions	0.315	0.163	0.118
Total Current Liabilities		4.914	7.900	0.118
Net Current Assets		(3.118)	15.998	0.492
MISCELLANEOUS EXPENSES		0.000	0.000	1.596
TOTAL		138.879	44.655	8.322

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	0.000	0.000	0.066
		Other Income	0.000	0.000	0.000
		TOTAL	0.000	0.000	0.066
Less	EXPENSES
		Other Expenses	0.745	0.000	0.153
		Employees Expenses	0.768	0.000	0.000
		TOTAL	1.513	0.000	0.153
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(1.513)	0.000	(0.087)
Less/ Add	DEPRECIATION/ AMORTISATION		0.069	0.004	0.003
	PROFIT / (LOSS) BEFORE TAX		(1.582)	(0.004)	(0.090)
Less	TAX		0.000	0.000	0.000
	PROFIT / (LOSS) AFTER TAX		(1.582)	(0.004)	(0.090)
	Earnings Per Share (Rs.)		(0.64)	--	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.00	0.00	(136.36)
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	(136.36)
Return on Total Assets (PBT/Total Assets}	(%)	(23.59)	(0.01)	(2.02)
Return on Investment (ROI) (PBT/Networth)		(0.02)	0.00	(0.01)
Debt Equity Ratio (Total Debt /Networth)		0.69	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.37	3.03	5.17

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

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Term loans from others	6.800	0.000
TOTAL	6.800	0.000

NOTE

Registered office has been shifted from Amberkhane Building, Degloor Road, Indumati Hospital, Udgir, Latur-413517, Maharashtra, India to the present address w.e.f. 01.02.2010.

THE COMPANY OVERVIEW

Subject was incorporated on November 14, 2008. Thereafter, on July 07, 2009, the name was changed to Rudrani Healthcare Limited. The Company is in the process of constructing and commissioning multispeciality hospital in Udgir, District Latur of Maharashtra.

OPERATING RESULTS

Management has raised funds from the different channels for the accomplishment of project. Due to sincere effort from staff and dedication from management, company has reached to almost last level of completion of project. And now management has planned for the inauguration of this project soon. Management and staff striving hard for maintaining proper disciplines towards the quality of the project and further hope for starting its activities within next Financial Year

FORM 8

Corporate identity number of the company	U85100MH2008PLC188222
Name of the company	RUDRANI HEALTH CARE SERVICES LIMITED
Address of the registered office or of the principal place of business in India of the company	267/3, Anand Mayee Marg, Udgir, Latur-413517, Maharashtra, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	10286420
Type of charge	Immovable property Floating charge
Particular of charge holder	Bank of Maharashtra, Udgir Branch, Latur-413517, Maharashtra, India
Nature of instrument creating charge	Memorandum of Record of Equitable Mortgage Dated 30th April 2011
Date of instrument Creating the charge	30.04.2011
Amount secured by the charge	Rs. 100.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Base rate + 4.00% i.e. 13.50% p.a. With monthly rest Terms of repayment Within 84 monthly installments of Rs. 1.191 Millions per month, commencing from 31st October 2012 + interest as and when debited. Margin 50% Extent and operation of the charge The first charge on the immovable property of the company. Other Type of Facility : Term Loan
Short particulars of the property charged (Including location of the property)	All That Pieces And Parcels of Land Situate Being Laying At S. No. 267/3, Village Udgir, Near Veterinery College, District Latur Admeasuring 3 H 32 R Together With Buildings and Structures Constructed / to be Constructed Thereon and All Fixtures Fittings Annexed Thereon.
Date of instrument modifying the charge	28.04.2011
Particulars of the present modification	By Way of First Modification, Existing Term Loan Limit of Rs. 100.000 Millions Was Further Secured By Mortgage of Immovable Property Situated At S. No. 267/3, Village Udgir, District Latur.

FIXED ASSETS

• Land Development
• Plant and Machinery
• Furniture and Fixtures
• Borewell
• Refrigerator

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. 54.27
UK Pound	1	Rs. 82.49
Euro	1	Rs. 69.88

INFORMATION DETAILS

Report Prepared by :

DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--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		27

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.