MIRA INFORM REPORT

Report Date :

22.11.2013

IDENTIFICATION DETAILS

Name :	STANDARD GALVA STEELS PRIVATE LIMITED
Registered Office :	2/3, Ashok Chambers, Devji Ratansey Marg, Masjid (E), Mumbai – 400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.02.2008
Com. Reg. No.:	11-179071
Capital Investment / Paid-up Capital :	Rs.74.348 millions
CIN No.: [Company Identification No.]	U27106MH2008PTC179071
TAN No.: [Tax Deduction & Collection Account No.]	MUMS59226G
PAN No.: [Permanent Account No.]	AALCS6888E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Flexible Conduits.
No. of Employees :	10 (Approximately)

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 843000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a part of the Standard Group of Companies. It is an established company having satisfactory track record. The company has failed to file its financial record with government department for the year 2013. As per available financial of 2012, the company ratings take into account the long experience of the promoters in the steel trading business, established relationship of the company with reputed steel mills, wide product range catering to a variety of end user industries, comfortable capital structure and healthy coverage indicators of the company and its healthy return on capital employed. Trade relations are reported to be fair. Business is active. Payment terms are usually correct. The company can be considered for business dealing 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 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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	BBB [Long Term Fund Based Limits]
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	November 2012

Rating Agency Name	ICRA
Rating	A3+ [Short Term Buyer’s Credit Limits]
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	November 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 :	2/3, Ashok Chambers, Devji Ratansey Marg, Masjid (East), Mumbai – 400009, Maharashtra, India
Tel. No.:	91-22-43430300
Fax No.:	91-22-43430333
E-Mail :	accounts@standardconduits.com info@standardconduits.com
Website :	www.standardconduits.com
Area :	6000 sq. ft.
Location :	Owned
Factory :	DM E – 5, MIDC, Taloja Dist, Raigad – 410208, Maharashtra, India

DIRECTORS

AS ON 30.09.2012

Name :

Mr. Nikunj Mansukhlal Turakhia

Designation :

Director

Address :

141, Shaan Apartment, Kashinath Dhuru Road, Dadar (West), Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

18.08.1962

Qualification :

B. Tech

Date of Appointment :

19.02.2008

DIN No.:

00082170

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	U63823MH1985PTC035018	TURAKHIA STEELS PRIVATE LIMITED (CN)	Director	18/01/1995	18/01/1995	-	Active	NO
2	U25200MH1995PTC089966	STANDARD CONDUITS PRIVATE LIMITED	Director	27/06/1995	27/06/1995	-	Active	NO
3	U27100MH2002PTC134754	TURAKHIA STEEL AND METAL (INDIA ) PRIVATE LIMITED	Director	31/01/2002	31/01/2002	-	Active	NO
4	U70100MH2004PTC150318	STANDARD REALTORS PRIVATE LIMITED	Director	31/12/2004	31/12/2004	-	Active	NO
5	U74900MH2005PTC150440	STANDARD FINANCIAL ADVISORS PRIVATE LIMITED	Director	5/1/2005	5/1/2005	-	Active	NO
6	U70102MH2002PTC134961	TURAKHIA INFRASTRUCTURE PRIVATE LIMITED	Director	1/5/2005	1/5/2005	-	Active	NO
7	U27106MH2008PTC179071	STANDARD GALVA STEELS PRIVATE LIMITED	Director	19/02/2008	19/02/2008	-	Active	NO
8	U28999MH2010PTC202779	STAN-PRO ROOFINGS PRIVATE LIMITED	Director	5/5/2010	5/5/2010	-	Active	NO
9	U51101MH2010PTC202778	STANDARD RETAIL PRIVATE LIMITED	Director	5/5/2010	5/5/2010	-	Active	NO

Name :

Mrs. Heena Nikunj Turakhia

Designation :

Director

Address :

141, Shaan Apartment, Kashinath Dhuru Road, Dadar (West), Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

12.03.1966

Date of Appointment :

19.02.2008

DIN No.:

0229623

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	U70102MH2002PTC134961	TURAKHIA INFRASTRUCTURE PRIVATE LIMITED	Director	1/5/2005	1/5/2005	-	Active	NO
2	U27100MH2002PTC134754	TURAKHIA STEEL AND METAL (INDIA ) PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO
3	U27106MH2008PTC179071	STANDARD GALVA STEELS PRIVATE LIMITED	Director	19/02/2008	19/02/2008	-	Active	NO
4	U28999MH2010PTC202779	STAN-PRO ROOFINGS PRIVATE LIMITED	Director	5/5/2010	5/5/2010	-	Active	NO
5	U51101MH2010PTC202778	STANDARD RETAIL PRIVATE LIMITED	Director	5/5/2010	5/5/2010	-	Active	NO
6	U25200MH1995PTC089966	STANDARD CONDUITS PRIVATE LIMITED	Director	30/09/2011	7/2/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

Names of Shareholders	No. of Shares
Nikunj Mansukhlal Turakhia	7060785
Pacific Solutions Limited, Mauritius	371564
Heena Nikunj Turakhia	2500
TOTAL	7434849

AS ON 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	5.00
Directors or relatives of directors	95.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Flexible Conduits.
Products :	Steel Trading and Distribution Lighting Division Solar Division Flexible Conduits and Accessories Electro Galvanizing Facilities Roofing Solutions Service Centre, Facilities Real Estate Standard Financial Advisory Services Steel Depot

GENERAL INFORMATION

No. of Employees :

10 (Approximately)

Bankers :

Bank of India, Mandvi Branch, Kanmoor House, 281/287 Narsi Natha Street, Mumbai – 400009, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Short Term Borrowings
Loans Repayable on Demand From Banks	35.157	23.245
TOTAL	35.157	23.245

Banking Relations :	--
Auditors :
Name :	Manish Modi and Associates Chartered Accountants
Address :	3^rd Floor, Hansa Villa, Plot No.66, Bhaudaji Cross Lane, Matunga (CR), Mumbai – 400019, Maharashtra, India
PAN No:	AAOFM4644C
Other Related Parties :	· Standard Conduits Private Limited [U25200MH1995PTC089966] · Standard Financial Advisors Private Limited (Formerly Known as Rekar Motors (India) Private Limited) [U74900MH2005PTC150440] · Turakhia Steel And Metal (India) Private Limited [U27100MH2002PTC134754] · Turakhia Steels Private Limited (CN) [U63823MH1985PTC035018] · Mahavir Corporation · Standard Realtors Private Limited · Turakhia Infrastructure Private Limited (formerly known as Healthway Laboratories Private Limited) · Turakhia Enterprise · Stan Pro Roofings Private Limited · Standard Retail Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7434849	Equity Shares	Rs.10/- each	Rs.74.348 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	74.348	74.348
(b) Reserves & Surplus	136.477	106.501
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	210.825	180.849
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	8.111	7.832
(d) long-term provisions	0.000	14.550
Total Non-current Liabilities (3)	8.111	22.382
(4) Current Liabilities
(a) Short term borrowings	56.142	45.507
(b) Trade payables	764.432	719.376
(c) Other current liabilities	30.063	41.041
(d) Short-term provisions	15.760	20.247
Total Current Liabilities (4)	866.397	826.171
TOTAL	1085.333	1029.402
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	36.021	36.018
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.769	0.226
(d) Long-term Loan and Advances	0.196	15.165
(e) Other Non-current assets	0.000	1.116
Total Non-Current Assets	36.986	52.525
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	300.587	366.450
(c) Trade receivables	401.851	429.972
(d) Cash and cash equivalents	186.389	89.201
(e) Short-term loans and advances	156.370	88.442
(f) Other current assets	3.150	2.812
Total Current Assets	1048.347	976.877
TOTAL	1085.333	1029.402

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		74.348
2] Share Application Money		0.000
3] Reserves & Surplus		70.902
4] (Accumulated Losses)		0.000
NETWORTH		145.250
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		15.973
TOTAL BORROWING		15.973
DEFERRED TAX LIABILITIES		0.113
TOTAL		161.336
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		37.578
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	128.258
	Sundry Debtors	173.536
	Cash & Bank Balances	114.903
	Other Current Assets	0.172
	Loans & Advances	56.665
Total Current Assets		473.534
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	325.628
	Other Current Liabilities	0.915
	Provisions	24.907
Total Current Liabilities		351.450
Net Current Assets		122.084
MISCELLANEOUS EXPENSES		1.674
TOTAL		161.336

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	NA	NA
		Other Income	NA	NA
		TOTAL	NA	NA	1196.263
Less	EXPENSES
		TOTAL	NA	NA	1155.612
	PROFIT / (LOSS) BEFORE TAX		NA	NA	40.651
Less	TAX		NA	NA	14.341
	PROFIT / (LOSS) AFTER TAX		29.921	35.599	26.310
	Earnings / (Loss) Per Share (Rs.)		4.02	4.79	3.54

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	2.19
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	7.95
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.27
Debt Equity Ratio (Total Debt/Networth)		0.27	0.25	0.11
Current Ratio (Current Asset/Current Liability)		1.21	1.18	1.35

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	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for one year	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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth 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

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10354055	20/04/2012	75,000,000.00	BANK OF INDIA	MUMBAI MID CORPORATE, 70/80, M.G. ROAD,, BANK OF INDIA BUILDING, MEZZANINE FLOOR, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B39070651
2	10267105	26/07/2013 *	1,308,000,000.00	BANK OF INDIA	MUMBAI MID CORPORATE, 70/80, M.G. ROAD,, BANK OF INDIA BUILDING, MEZZANINE FLOOR, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B85126852
3	10134162	17/07/2013 *	1,308,000,000.00	BANK OF INDIA	MUMBAI MID CORPORATE, 70/80, M.G. ROAD,, BANK OF INDIA BUILDING, MEZZANINE FLOOR, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA	B84249788
* Date of charge modification

Unsecured Loan	As on 31.03.2012 [Rs. in Millions]	As on 31.03.2011 [Rs. in Millions]
Short Term Borrowings
Loans and Advances From Related Parties	5.095	4.762
Other Loans and Advances	15.890	17.500
TOTAL	20.985	22.262

FIXED ASSETS:

· Land and Building

· Machineries

· Furniture and Fixtures

· Typewriters

· Office Equipment

· Cycles

· Motor Car

· Air Conditioner

· Scooter

WEBSITE DETAILS

PROFILE

Subject formerly known as Standard Engineers, is engaged in manufacturing of metallic flexible conduits, PVC coated flexible conduits. These conduits are made from Galvanized steel strip which has been formed by helical winding to produce Square lock and Inter lock construction in size range from NB 3/8 “ to 3 “. These conduits are made to very high standards and in PVC coated in order to give an unequalled combination of strength, versatility and Quality.

Metallic Flexible Conduits are widely used in various industries such as Electrical Industry as protective covering for cables; Automobile and Chemical Industries as Low pressure Exhaust of Dust, Fumes and Gases, Engineering Industries as outer casing of flexible Shafts, Expansion Joints etc. The group has its factories at Rabale, Navi Mumbai and at Taloja Industrial Area, Navi Mumbai, India, close proximity to Mumbai and Nhava Sheva port and Kalamboli steel market.

They have manufacturing units well equipped with requisite state-of-the-art machines and equipment that are needed for an efficient production of flexible conduits, electro-galvanising, roofing sheets and accessories for industrial and infrastructure requirement.

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.62.89
UK Pound	1	Rs.101.14
Euro	1	Rs.84.42

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--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
--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	--

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.