MIRA INFORM REPORT

Report Date :

06.08.2014

IDENTIFICATION DETAILS

Name :	GUJARAT PLUG-IN DEVICES PRIVATE LIMITED
Registered Office :	10, Tarun Society, Gotri Road, Baroda- 390015, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	21.05.1985
Com. Reg. No.:	04-007833
Capital Investment / Paid-up Capital :	Rs. 1.804 Millions
CIN No.: [Company Identification No.]	U32201GJ1985PTC007833
TAN No.: [Tax Deduction & Collection Account No.]	BRDG00286G
PAN No.: [Permanent Account No.]	AAACG6863C
Legal Form :	Private Limited Liability Company
Line of Business :	Design, Manufacture and Supply of Consistent Quality Electrical Products.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 380000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There seems some dip in the turnover and profits of the company during 2013 however, general financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal for 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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	SME (SE 2A) :
Rating Explanation	High Performance Capability and High Financial Strength
Date	February 2013

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Viral D. Kothari
Designation :	Director
Contact No.:	91-9925042386
Date :	21.07.2014

LOCATIONS

Registered Office :	10, Tarun Society, Gotri Road, Vadodara – 390015, Gujarat, India
Tel. No.:	91-265-2398249
Mobile No.:	91-9925042386 (Mr. Viral Kothari)
Fax No.:	91-265-2396971
E-Mail :	sales@gpd-transformers.com info@gpd-transformers.com drkad1@sancharnet.in accounts@gpd-transfomers.com vibhakothri@gpd-transformers.com kwicksales@sify.com
Website :	www.gpd-transformers.com
Location :	Rented
Corporate Office :	103, Maruti Complex, Near Natubhi Centre, Gotri Road, Vadodara – 390007, Gujarat, India
Tel. No.:	91-265-2396148/ 2398249
Fax No.:	91-265-2396971
E-Mail :	kwick_sales@sify.com
Area :	2500 sq ft
Location :	Owned
Factory :	989/3, GIDC, Makarpura, Vadodara – 390010, Gujarat, India
Tel. No.:	91-265-2631075/2637209
Fax No.:	91-265-2396971
E-Mail :	info@gpd-transformers.com
Area :	10000 sq ft
Location :	Leased

DIRECTORS

As on: 16.09.2013

Name :

Mr. Sudhir Vasantrao Chemburkar

Designation :

Director

Address :

16, Aarti Society, Atmajyoti Ashram Road, Ellora Park, Vadodara – 390 023, Gujarat, India

Date of Birth/Age :

17.09.1949

Date of Appointment :

21.05.1985

DIN No.:

00638666

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	U32201GJ1985PTC007833	GUJARAT PLUG-IN DEVICES PVT LTD	Director	21-05-1985	21-05-1985	-	Active	NO
2	U29130GJ1994PTC022645	SAHIL SWITCHGEARS PVT LTD	Director	29-07-1994	29-07-1994	-	Active	NO
3	U31900GJ2009PTC057958	REO-GPD INDUCTIVE COMPONENTS PRIVATE LIMITED	Director	02-09-2009	02-09-2009	-	Active	NO

Name :

Mr. Viral Dipak Kothari

Designation :

Director

Address :

10, Tarun Society, Gotri Road, Vadodara – 390 007, Gujarat, India

Date of Birth/Age :

31.10.1979

Date of Appointment :

01.04.2007

DIN No.:

01338920

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	U32201GJ1985PTC007833	GUJARAT PLUG-IN DEVICES PVT LTD	Director	01-04-2007	01-04-2007	-	Active	NO
2	U29130GJ1994PTC022645	SAHIL SWITCHGEARS PVT LTD	Director	18-07-2011	18-07-2011	-	Active	NO
3	U31900GJ2009PTC057958	REO-GPD INDUCTIVE COMPONENTS PRIVATE LIMITED	Director	18-07-2011	18-07-2011	-	Active	NO

Name :

Mrs. Himani Sudhir Chemburkar

Designation :

Director

Address :

16, Aarti Society, Atmajyoti Ashram Road, Ellora Park, Vadodara – 390023, Gujarat, India

Date of Birth/Age :

28.04.1981

Date of Appointment :

16.09.2013

DIN No.:

06408342

Name :

Vibha Dipak Kothari

Designation :

Director

Address :

10, Tarun Society, Near Natubhai Centre, Gotri Road, Vadodara- 390007, Gujarat, India

Date of Birth/Age :

15.10.1985

Date of Appointment :

16.09.2013

DIN No.:

06408350

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 16.09.2013

Names of Shareholders	No. of Shares
Sudhir Vasantrao Chemburkar	896
Himani Sudhir Chemburkar	180
Manali Sudhir Chemburkar	180
Viral Dipak Kothari Shaila Dipak Kothari	4680
Vibha Dipak Kothari Shaila Dipak Kothari	180
Sandhya Sudhir Chemburkar Sudhir Vasantrao Chemburkar	4760
Sudhir Vasantrao Chemburkar Sandhya Sudhir Chemburkar	3002
Shaila Dipak Kothari	3978
Chandrakala Ramniklal Kothari	180
Total	18036

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Design, Manufacture and Supply of Consistent Quality Electrical Products.

Products :

Products Description	Item Code No.
Electrical Transformer	8504

· Electric Transformers

· Inductors and Panels

· Inductors and Chokes

· Control Panels

· Stabilizers

· Market Cables

· Motors, Switchgear

· Control Relays

· Insulating Paper

Exports :

Countries :

· USA

· UK

· Germany

Imports :

Countries :

· Germany

· Italy

PRODUCTION STATUS (AS ON 31.03.2012)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Transformers	Nos.	NA	NA	5652
Coils	Nos.	NA	NA	1600
Copper Scraps	Kg.	NA	NA	891
Control Panel	Nos.	NA	NA	177
Chokes	Nos.	NA	NA	27809

GENERAL INFORMATION

Suppliers :	Thyssen Krupp
Customers :	Suzlon
No. of Employees :	50 (Approximately)
Bankers :	· Small Industries Development Bank of India, 1^st Floor, Landmark Building, Race Course Circle, Vadodara-390007, Gujarat, India. · State Bank of India, Makarpura Industrial Estate Branch, Baroda, Gujarat, India

Banking Relations :	---
Auditors :
Name :	Talati and Talati Chartered Accountant
Address :	210- B. N. Chambers, R C Dutt Road, Vadodara – 390007, Gujarat, India
Tel. No.:	91-265-3058025/26/27/28/29
Fax No.:	Not Available
E-Mail :	baroda@talatiandtalati.com
PAN No.:	AAAFT4520A
Related Parties :	Kwick Sales and Services
Subsidiaries :	REO-GPD Inductive Components Private Limited CIN No.: U31900GJ2009PTC057958

CAPITAL STRUCTURE

As on: 16.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.100/- each	Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18036	Equity Shares	Rs.100/- each	Rs. 1.804 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	1.804	1.804	1.804
(b) Reserves & Surplus	94.074	88.218	64.858
(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)	95.878	90.022	66.662
(3) Non-Current Liabilities
(a) long-term borrowings	3.364	4.394	4.283
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.987	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	4.351	4.394	4.283
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	12.154	24.785	18.762
(c) Other current liabilities	0.233	0.869	0.432
(d) Short-term provisions	7.332	7.911	4.293
Total Current Liabilities (4)	19.719	33.565	23.487
TOTAL	119.948	127.981	94.432
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.410	5.100	5.193
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	47.910	33.684	15.300
(c) Deferred tax assets (net)	0.284	0.190	0.100
(d) Long-term Loan and Advances	0.042	1.457	3.100
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	52.646	40.431	23.693
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	13.914	12.365	15.600
(c) Trade receivables	33.416	62.741	41.494
(d) Cash and cash equivalents	19.031	8.798	10.889
(e) Short-term loans and advances	0.150	0.944	2.480
(f) Other current assets	0.791	2.702	0.276
Total Current Assets	67.302	87.550	70.739
TOTAL	119.948	127.981	94.432

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	101.226	206.373	189.185
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	82.867	156.867	154.534
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		18.359	49.506	34.651
Less/ Add	DEPRECIATION/ AMORTISATION		0.852	0.934	0.919
	PROFIT BEFORE TAX		17.507	48.572	33.732
Less	TAX		5.362	15.769	11.517
	PROFIT AFTER TAX		12.145	32.803	22.215
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		73.456	53.376	35.746
Less	APPROPRIATIONS
		Transfer to General Reserve	1.214	3.280	2.221
		Interim Dividend Paid	1.804	6.313	0.000
		Proposed Dividend	3.607	1.803	2.020
		Tax on Interim Dividend	0.293	1.041	0.000
		Tax on Dividend	0.585	0.293	0.343
Add	Provision written Back		0.000	0.008	0.000
	BALANCE CARRIED TO THE B/S		78.098	73.457	53.377
	Earnings Per Share (Rs.)		673.37	1818.75	1231.70

Particulars	31.03.2014
Sales Turnover (Approximately)	120.000

The above information has been parted by Mr. Viral D. Kothari.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	12.00	15.90	11.74
Return on Total Assets (PBT/Total Assets}	(%)	24.40	51.61	42.68
Return on Investment (ROI) (PBT/Networth)		0.18	0.54	0.51
Debt Equity Ratio (Total Debt /Networth)		0.04	0.05	0.06
Current Ratio (Current Asset/Current Liability)		3.41	2.61	3.01

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	1.804	1.804	1.804
Reserves & Surplus	64.858	88.218	94.074
Net worth	66.662	90.022	95.878
long-term borrowings	4.283	4.394	3.364
Short term borrowings	0.000	0.000	0.000
Total borrowings	4.283	4.394	3.364
Debt/Equity ratio	0.064	0.049	0.035

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	189.185	206.373	101.226
		9.085	-50.950

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	189.185	206.373	101.226
Profit	22.215	32.803	12.145
	11.74%	15.90%	12.00%

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	Yes
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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one years	Yes
12]	Profitability for last four 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	Yes
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	Yes
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

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
LONG TERM BORROWINGS
Loans and Advances from Related parties (of the above NIL is guaranteed by Directors of the Company)	3.364	4.394
Total	3.364	4.394

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10475602	02/01/2014	3,550,000.00	Small Industries Development Bank of lndia	1ST FLOOR, LANDMARK BUILDING, RACE COURSE CIRCLE, VADODARA-390007, GUJARAT, INDIA	B95501201

* Date of charge modification

FIXED ASSETS

· Land

· Office Building

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

· Electric Installation

· Office Equipment

· Computers

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 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.61.01
UK Pound	1	Rs.102.69
Euro	1	Rs.81.90

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	DIV
Report Prepared by :	HIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		42

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.