MIRA INFORM REPORT

Report Date :

08.11.2013

IDENTIFICATION DETAILS

Name :	ALLEN'S INDIA LIMITED
Registered Office :	Allens Apartment, 23/C, Wards Institution Street, Kolkata – 700006, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	24.09.1993
Com. Reg. No.:	21-060219
Capital Investment / Paid-up Capital :	Rs. 10.000 Millions
CIN No.: [Company Identification No.]	U51109WB1993PLC060219
TAN No.: [Tax Deduction & Collection Account No.]	CALA03716G
PAN No.: [Permanent Account No.]	AACCA6790Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Medicines and Health Care Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 50000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Reserves of the company appears to be low. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing 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 31^st, 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

INDIAN ECONOMIC OVERVIEW

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the trade deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

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 :	Allens Apartment, 23/C, Wards Institution Street, Kolkata – 700006, West Bengal, India
Tel. No.:	91-33-23510062 / 23512527 / 23510072
Fax No.:	91-33-23512285
E-Mail :	cfc.hsbhattacharjee@gmail.com taxandacts@gmail.com sss@allensindia.com
Website :	http://www.allensindia.com

DIRECTORS

As on 26.09.2012

Name :

Mr. Shashanka Sekhar Sarkar

Designation :

Managing Director

Address :

FD-285, Sector-III, Salt Lake City, Kolkata, West Bengal – 700106, West Bengal, India

Date of Birth/Age :

03.07.1973

Date of Appointment :

01.07.2002

DIN No.:

00490249

Voter ID No.:

DKN2576817

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	U24233WB1981PLC034230	ALLEN LABORATORIES LIMITED	Director	05-06-95	05-06-95	-	Active	NO
2	U24231WB1996PTC081362	PERK ALLEN HERBAL PRIVATE LIMITED	Director	04-06-01	04-06-01	-	Active	NO
3	U51109WB1993PLC060219	ALLEN'S INDIA LIMITED	Managing director	01-07-02	01-07-02	-	Active	NO
4	U51505WB1992PTC056862	ALLEN HOMOEO INTERNATIONAL PRIVATE LIMITED	Managing director	16-09-04	16-09-04	-	Active	NO
5	U51909WB1977PTC031282	EMARS ALLEN PHARMA PRIVATE LIMITED	Managing director	25-09-06	25-09-06	-	Active	NO
6	U51397WB1988PLC043599	ALLEN BIOPHARMA LIMITED	Director	20-05-10	20-05-10	31-05-12	Active	NO

Name :

Mrs. Anita Sarkar

Designation :

Director

Address :

FD-285, Sector-III, Salt Lake City, Kolkata, West Bengal – 700106, West Bengal, India

Date of Birth/Age :

04.08.1977

Date of Appointment :

20.10.2000

DIN No.:

00641628

Voter ID No.:

WB/12/08/096961

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	U51109WB1993PLC060219	ALLEN'S INDIA LIMITED	Director	20-10-00	20-10-00	-	Active	NO
2	U24231WB1996PTC081362	PERK ALLEN HERBAL PRIVATE LIMITED	Managing director	22-08-05	22-08-05	-	Active	NO
3	U51505WB1992PTC056862	ALLEN HOMOEO INTERNATIONAL PRIVATE LIMITED	Director	25-07-06	25-07-06	-	Active	NO
4	U51909WB1977PTC031282	EMARS ALLEN PHARMA PRIVATE LIMITED	Managing director	01-09-10	01-09-10	-	Active	NO
5	U51397WB1988PLC043599	ALLEN BIOPHARMA LIMITED	Director	21-01-11	08-11-10	31-05-12	Active	NO

Name :

Mr. Gour Pada Sarkar

Designation :

Director

Address :

FD-285, Sector-III, Salt Lake City, Kolkata, West Bengal – 700106, West Bengal, India

Date of Birth/Age :

01.01.1945

Date of Appointment :

24.09.1943

DIN No.:

00401243

Voter ID No.:

WB/20/139/867404

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	U24239WB1976PLC030746	JUPITER PHARMACEUTICALS LIMITED	Director	28-10-76	28-10-76	-	Active	NO
2	U24234WB1974PTC029591	DR. SARKAR ALLEN INSTITUTE PRIVATE LIMITED	Director	25-09-06	01-04-91	-	Active	NO
3	U51109WB1993PLC060219	ALLEN'S INDIA LIMITED	Director	24-09-93	24-09-93	-	Active	NO
4	U70109WB1994PTC062808	POLLEN ALLEN INSTITUTE PRIVATE LIMITED	Director	25-04-94	25-04-94	-	Active	NO
5	U25209WB1997PLC084227	ALLEN INDUSTRIES LIMITED	Director	06-05-97	06-05-97	-	Active	NO
6	U74300WB1997PTC085606	ALLEN AD AND PUBLICITY PRIVATE LIMITED	Director	30-07-01	30-07-01	-	Active	NO
7	U24239WB1996PTC079942	QUALITY ALLEN PHARMA PRIVATE LIMITED	Managing director	02-08-01	02-08-01	-	Active	NO
8	U51397WB1988PLC043599	ALLEN BIOPHARMA LIMITED	Managing director	21-01-11	24-10-02	-	Active	NO
9	U65993WB1992PLC056844	ALLEN'S HOUSING NAD FINANCE LIMITED	Director	01-11-02	01-11-02	-	Active	NO
10	U91110WB1940NPL010249	BENGAL NATIONAL CHAMBER OF COMMERCE ANDINDUSTRY	Director	07-11-02	07-11-02	-	Active	NO
11	U24133WB1993PTC060722	ALLEN AYUR INDIA PRIVATE LIMITED	Director	01-01-03	01-01-03	-	Active	NO
12	U51909WB1977PTC031282	EMARS ALLEN PHARMA PRIVATE LIMITED	Director	01-01-05	01-01-05	-	Active	NO
13	U24246WB1994PLC063573	ALLEN HEALTHCARE CO LIMITED	Director	15-02-05	15-02-05	-	Active	NO
14	U24233WB1981PLC034230	ALLEN LABORATORIES LIMITED	Managing director	01-04-06	01-04-06	-	Active	NO
15	U24231WB1996PTC081362	PERK ALLEN HERBAL PRIVATE LIMITED	Director	23-10-06	23-10-06	-	Active	NO
16	U51505WB1992PTC056862	ALLEN HOMOEO INTERNATIONAL PRIVATE LIMITED	Director	23-10-06	23-10-06	-	Active	NO
17	U24239DL2002NPL117651	FEDERATION OF HOMEOPATHIC MANUFACTURERS OF INDIA	Director	05-10-10	05-10-10	-	Active	NO
18	U15139WB2011PLC162239	BENGAL AGRO FOOD PROCESSING INDUSTRY LIMITED	Director	04-05-11	04-05-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2012

Names of Shareholders	No. of Shares
Shashanka Sekhar Sarkar	238750
Anita Sarkar	10000
Yesh Allew Sarkhar	25500
Sarkar Seepshikhar Baby	25000
Pharma Allen Emars	700000
Kali Pada Sarkar	500
Mukunda Mazumderlal	250
Total	1000000

As on 26.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	70.00
Directors or relatives of Directors	29.98
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Medicines and Health Care Products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Kotak Mahindra Bank

· ABN Amro Bank

· State Bank of India

· ICICI Bank Limited

· Axis Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS:
Secured Loans From Kotak Mahindra Bank at14.71% EMI Rs.0.006 Million (Secured Against Motor Car)	0.104	0.083
SHORT-TERM BORROWINGS:
Secured Terms Loans From ABN Amro Bank at18.50% EMI Rs.0.045 Million (Secured Against Personal Guarantee of Directors)	0.000	0.370
Secured Loans From Kotak Mahindra Bank at10.52% EMI Rs.0.010 Million (Secured Against Motor Car)	0.100	0.125
Secured Loans From Kotak Mahindra Bank at14.71% EMI Rs.0.006 Million (Secured Against Motor Car)	0.066	0.000
Total	0.270	0.578

Banking Relations :	---
Auditors :
Name :	H.S. Bhattacharjee and Company Chartered Accountants
Address :	Room No.316,3^rd Floor, 156A,Lenin Sarani, Kolkata – 700013, West Bengal, India
Tel. No.:	91-33-22159323 / 0832 / 0963
E-Mail :	hsbhattacharjee@gmail.com
Website :	www.cahsb.co.in
PAN No.:	AABFH3922M
Holding Company :	Emars Allen Pharma Private Limited CIN No.: U51909WB1977PTC031282
Subsidiary Company :	Perk Allen Herbal Private Limited CIN No.: U24231WB1996PTC081362

CAPITAL STRUCTURE

As on 26.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	10.000	10.000	10.000
(b) Reserves & Surplus	2.735	2.060	1.846
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	12.735	12.060	11.846
(3) Non-Current Liabilities
(a) long-term borrowings	1.772	1.285	0.799
(b) Deferred tax liabilities (Net)	0.000	0.066	0.022
(c) Other long term liabilities	1.860	1.860	1.860
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	3.632	3.211	2.681
(4) Current Liabilities
(a) Short term borrowings	0.166	0.495	0.000
(b) Trade payables	23.377	21.712	17.582
(c) Other current liabilities	9.111	6.382	3.546
(d) Short-term provisions	0.291	0.190	0.048
Total Current Liabilities (4)	32.945	28.779	21.176
TOTAL	49.312	44.050	35.703
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1.149	0.939	1.136
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.684	0.220	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7.263	8.263	8.263
(c) Deferred tax assets (net)	0.021	0.000	0.000
(d) Long-term Loan and Advances	2.392	2.368	1.035
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	11.509	11.790	10.434
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	3.471	4.377	4.038
(c) Trade receivables	32.791	26.911	18.334
(d) Cash and cash equivalents	0.270	0.012	0.069
(e) Short-term loans and advances	1.203	0.892	2.442
(f) Other current assets	0.068	0.068	0.386
Total Current Assets	37.803	32.260	25.269
TOTAL	49.312	44.050	35.703

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	43.167	39.872	32.356
		Other Income	0.019	0.041	0.092
		TOTAL (A)	43.186	39.913	32.448
Less	EXPENSES
		Purchase of Stock-in-trade	25.008	23.824	21.084
		Changes In Inventories Of Finished Goods, WIP & Stock-in trade	0.906	(0.340)	(1.292)
		Employee Benefits Expenses	3.466	3.419	3.187
		Other Expenses	12.400	11.944	8.414
		TOTAL (B)	41.780	38.847	31.393
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.406	1.066	1.055
Less	FINANCIAL EXPENSES (D)		0.383	0.354	0.364
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.023	0.712	0.691
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.198	0.197	0.241
	PROFIT BEFORE TAX (E-F) (G)		0.825	0.515	0.450
Less	TAX (H)		0.151	0.301	0.160
	PROFIT AFTER TAX (G-H) (I)		0.674	0.214	0.290
	Earnings Per Share (Rs.)
	Basic		0.67	0.21	0.29
	Diluted		0.67	0.21	0.29

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.56	0.54	0.89
Net Profit Margin (PBT/Sales)	(%)	1.91	1.29	1.39
Return on Total Assets (PBT/Total Assets}	(%)	2.00	1.45	1.64
Return on Investment (ROI) (PBT/Networth)		0.06	0.04	0.04
Debt Equity Ratio (Total Debt /Networth)		0.15	0.15	0.07
Current Ratio (Current Asset/Current Liability)		1.15	1.12	1.19

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	Yes
34]	External Agency Rating, if available	No

UNSECURED LOAN

Rs. In Millions

Particular	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS:
Loan From Directors/Relative	1.668	1.202
Total	1.668	1.202

FINANCIAL RESULT:

The Company has made a Profit of Rs.0.825 Million. However, the Directors are hopeful of achieving better results in the coming years.

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

· Freehold Land

· Furniture and Fixtures

· Vehicles (Car)

· Office equipment

· Computer

· Cellular Phone

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 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 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.62.57
UK Pound	1	Rs.100.63
Euro	1	Rs.84.62

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.