MIRA INFORM REPORT

Report Date :

13.12.2014

IDENTIFICATION DETAILS

Name :	INDIAN FOODTECH LIMITED

Registered Office :	SH-4, Vardhman Grand Plaza, District Centre, Sector – 3, Rohini – 110085, New Delhi

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	25.10.2010

Com. Reg. No.:	55-209763

Capital Investment / Paid-up Capital :	Rs. 18.200 Millions

CIN No.: [Company Identification No.]	U15132DL2010PLC209763

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	A Closely Held Public Limited Liability Company.

Line of Business :	Manufacturer of all types of frozen foods, frozen food and ready to eat frozen appetizers, frozen desserts and bakery, frozen dinners and metals etc.

No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 80000

Status :	Moderate

Payment Behaviour :	Slow But Correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BB-
Rating Explanation	Have moderate risk of default.
Date	November 12,2014

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. Shubham Agarwal
Designation :	AGM Commercial
Contact No.:	91-7055871777
Date :	11.12.2014

LOCATIONS

Registered Office :	SH-4, Vardhman Grand Plaza, Manglam Place, District Centre, Sector – 3, Rohini – 110085, New Delhi, India
Tel. No.:	91-11-27948041/ 27948042
Mobile No.:	91-7055871777 (Mr. Shubham Agarwal)
Fax No.:	91-11-27948042
E-Mail :	narender1992@gmail.com ashok@ruhils.in mandalmk@gmail.com
Website :	http://www.ruhils.in
Location :	Owned

Factory :	Uttarakhand, India
Location :	Owned

DIRECTORS

As On 30.09.2013

Name :

Mr. Ashok Shrichand Ruhil

Designation :

Director

Address :

175, Dharamkunj CGHS Limited, Sector – 9, Rohini, Delhi – 110085, India

Date of Birth/Age :

03.01.1963

Date of Appointment :

30.04.2013

DIN No.:

01382321

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	U15400DL2005PLC138530	Natural Frozen Foods Limited	Director	11/07/2005	11/07/2005	-	Active	NO
2	U15122DL2008PLC173890	POWERCON INDUSTRIES LIMITED	Director	11/02/2008	11/02/2008	-	Active	NO
3	U51109UR1988PTC009529	SSR RUBBER & ALLIED PRODUCTS PRIVATE LIMITED	Director	18/04/2009	18/04/2009	10/06/2011	Active	NO
4	U15132DL2010PLC209763	INDIAN FOODTECH LIMITED	Director	30/04/2013	25/10/2010	-	Active	NO
5	U27109DL2007PTC158783	DYNAMIC ARC MOLTEN PRIVATE LIMITED	Additional director	01/12/2010	01/12/2010	01/08/2011	Active	NO
6	U15500DL2011PLC223116	INDIAN BEERS LIMITED	Director	02/08/2011	02/08/2011	-	Active	NO
7	AAA-2994	INDIAN FROZEN FOODS LLP	Designated Partner	03/12/2010	03/12/2010	-	Active	NO

Name :

Mr. Amit Dharmpal Shokeen

Designation :

Director

Address :

255, Panna Bichli Gali, Mangolpur Kalan, Delhi – 110085, India

Date of Birth/Age :

15.08.1979

Date of Appointment :

30.04.2013

DIN No.:

01293610

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	U15400DL2005PLC138530	Natural Frozen Foods Limited	Director	11/07/2005	11/07/2005	-	Active	NO
2	U15122DL2008PLC173890	POWERCON INDUSTRIES LIMITED	Director	11/02/2008	11/02/2008	-	Active	NO
3	U32109DL2004PTC129270	NAV RATNA ELECTRONICS PRIVATE LIMITED	Additional director	21/01/2009	21/01/2009	11/08/2009	Active	NO
4	U51109UR1988PTC009529	SSR RUBBER & ALLIED PRODUCTS PRIVATE LIMITED	Director	18/04/2009	18/04/2009	10/06/2011	Active	NO
5	U15132DL2010PLC209763	INDIAN FOODTECH LIMITED	Director	30/04/2013	25/10/2010	-	Active	NO
6	U15500DL2011PLC223116	INDIAN BEERS LIMITED	Director	02/08/2011	02/08/2011	-	Active	NO
7	AAA-2994	INDIAN FROZEN FOODS LLP	Designated Partner	03/12/2010	03/12/2010	-	Active	NO

Name :

Mrs. Anita Ashok Ruhil

Designation :

Director

Address :

H. No.175, Dharam Kunj CGHS Limited, Sector – 9, Rohini, Delhi – 110085, India

Date of Birth/Age :

02.05.1966

Date of Appointment :

25.10.2010

DIN No.:

01303040

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	U15400DL2005PLC138530	Natural Frozen Foods Limited	Director	11/07/2005	11/07/2005	-	Active	NO
2	U15122DL2008PLC173890	POWERCON INDUSTRIES LIMITED	Director	11/02/2008	11/02/2008	-	Active	NO
3	U51109UR1988PTC009529	SSR RUBBER & ALLIED PRODUCTS PRIVATE LIMITED	Director	18/04/2009	18/04/2009	10/06/2011	Active	NO
4	U15132DL2010PLC209763	INDIAN FOODTECH LIMITED	Director	25/10/2010	25/10/2010	-	Active	NO
5	U15500DL2011PLC223116	INDIAN BEERS LIMITED	Director	02/08/2011	02/08/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Shubham Agarwal
Designation :	AGM Commerical

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Sh. Ashok Ruhil	1770100	97.26
Mrs. Anita Ruhil	24300	1.34
Mr. Amit Shokeen	1000	0.05
Mr. Neeraj Ruhil	24300	1.34
Sunil Kumar Ruhil	100	0.01
Monika Pasricha	100	0.01
Rekha Gosain	100	0.01

Total	1820000	100.00

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of all types of frozen foods, frozen food and ready to eat frozen appetizers, frozen desserts and bakery, frozen dinners and metals etc.

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products :	Finished Goods
Countries :	Canada Germany Saudi Arabia

Imports :
Products :	Machinery
Countries :	China Korea

Terms :
Selling :	Cash, L/C and Credit

Purchasing :	Cash, L/C and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Kailash Packaging Insustries Private Limited
Name of the Person :	Mr. Rajan Jaiswal (Director)
Contact No.:	91-9837090203
Since How Long Known :	2 Years
Experience :	Good
Maximum Limit Dealt :	Not Divulged
Remark :	They gave us positive response about the subject company they are satisfied with their payment behaviour.

Customers :

Reference :	Dabur India Limited
Name of the Person :	Mr. Rajesh (Factory Manager)
Contact No.:	91-8130188997
Since How Long Known :	3 Years
Experience :	Good
Maximum Limit Dealt :	Rs. 200.000 Millions (Approximately)
Remark :	They gave us positive response about the subject company they are satisfied with their product quality and delivery behaviour.

No. of Employees :

200 (Approximately)

Bankers :

Banker Name	Punjab National Bank
Branch Address	Bazur Main Road, Uttam Singh Nagar, District Uttarakhand – 262401, India
Person Name (With Designation)	Mr. Nagrajan (Chief Manager)
Contact Number	91-8171998028
Name of Account Holder	Indian Foodtech Limited
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	2011
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	CC = Rs. 75.000 Millions LL = Rs. 24.000 Millions
Account Operation	Satisfactory
Remarks (If any)	Banker gave us positive response about subject company. They are satisfied with their banking transaction.

Punjab National Bank, 7, Bhikhaiji Cama Place, New Delhi – 110066, India

Facilities :

Secured Loans	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Term Loan – From Bank Rupee Term loans banks secured	37.789	47.489
Term Loan – From Bank Rupee Term loans financial institutions secured	6.574	6.574
Total	44.363	54.063


Auditors :
Name :	Rashmi Narender and Company Chartered Accountant
Address :	B-387, Vardhman Grand Plaza, Manglam Place, Sector – 3, Rohini, New Delhi – 110085, India
PAN No.:	AAJFR8203K

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As On 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2,500,000	Equity Shares	Rs. 10/- each	Rs. 25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,820,000	Equity Shares	Rs. 10/- each	Rs. 18.200 Millions

As On 30.09.2013

Authorised Capital : Rs. 25.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 18.721 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	18.200	18.200	0.500
(b) Reserves & Surplus	13.207	(0.544)	(0.348)
(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)	31.407	17.656	0.152

(3) Non-Current Liabilities
(a) long-term borrowings	48.107	76.976	31.519
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	2.573	16.342	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	50.680	93.318	31.519

(4) Current Liabilities
(a) Short term borrowings	50.404	27.173	0.000
(b) Trade payables	15.380	0.239	0.829
(c) Other current liabilities	0.798	1.205	0.019
(d) Short-term provisions	0.043	0.096	0.000
Total Current Liabilities (4)	66.625	28.713	0.848

TOTAL	148.712	139.687	32.519

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	105.530	104.991	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	3.868	0.000	12.284
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	109.398	104.991	12.284

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	23.740	7.481	0.000
(c) Trade receivables	6.375	0.113	0.000
(d) Cash and cash equivalents	0.440	21.315	4.468
(e) Short-term loans and advances	8.754	4.966	15.767
(f) Other current assets	0.005	0.821	0.000
Total Current Assets	39.314	34.696	20.235

TOTAL	148.712	139.687	32.519

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	22.983	0.093	0.000
		Other Income	0.048	0.012	0.000
		TOTAL (A)	23.031	0.105	0.000

Less	EXPENSES
		Cost of Goods Sold	14.880	(4.120)	0.000
		Purchase of Stock in trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(2.664)	0.000	0.000
		Other Direct Expenses	3.442	1.434	0.000
		Employee benefit expenses	2.319	2.457	0.000
		Other expenses	1.215	0.033	0.345
		TOTAL (B)	19.192	(0.196)	0.345

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.839	0.301	(0.345)

Less	FINANCIAL EXPENSES (D)		3.633	0.184	0.004

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.206	0.117	(0.349)

Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.385	0.312	0.000

	PROFIT BEFORE TAX (E-F) (G)		(4.179)	(0.195)	(0.349)

Less	TAX (I)		0.000	0.000	0.000

	PROFIT AFTER TAX (G-I) (J)		(4.179)	(0.195)	(0.349)

	Earnings / (Loss) Per Share (Rs.)		(22.96)	(0.10)	(0.19)

Particulars

31.03.2014

Sales Turnover (Approximately)

160.000

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011

Net Profit Margin PAT / Sales	(%)	(18.18)	(209.67)	NA

Operating Profit Margin (PBDIT/Sales)	(%)	16.70	323.66	NA

Return on Total Assets (PBT/Total Assets}	(%)	(2.81)	(0.14)	(1.53)

Return on Investment (ROI) (PBT/Networth)		(0.13)	(0.01)	(2.30)

Debt Equity Ratio (Total Liability/Networth)		3.14	5.90	207.36

Current Ratio (Current Asset/Current Liability)		0.59	1.21	23.86

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	0.500	18.200	18.200
Reserves & Surplus	(0.348)	(0.544)	13.207
Net worth	0.152	17.656	31.407

long-term borrowings	31.519	76.976	48.107
Short term borrowings	0.000	27.173	50.404
Total borrowings	31.519	104.149	98.511
Debt/Equity ratio	207.362	5.899	3.137

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	0.093	22.983
		24,612.903

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Sales	0.093	22.983
Profit	(0.195)	(4.179)
	(209.68%)	(18.18%)

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	Yes
10]	Designation of contact person	Yes
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	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	Yes
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10271643	16/09/2014 *	99,916,000.00	PUNJAB NATIONAL BANK	7, BHIKHAIJI CAMA PLACE, NEW DELHI, Delhi - 110066 , INDIA	C25177734

* Date of charge modification

UNSECURED LOANS

Unsecured Loans	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Loans and advances from related Parties Loans directors Unsecured	3.743	18.578
Other Loans and advances Loans repayable on demand from others Unsecured	0.000	4.334
Loans repayable on Demand – From Bank PNB OD A/c Unsecured	50.404	27.174
Total	54.147	50.086

FIXED ASSETS

Land
Factory Building
Plant and Machinery
Furniture and Fixtures
Computer including software

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. 62.44
UK Pound	1	Rs. 98.15
Euro	1	Rs. 77.38

INFORMATION DETAILS

Information Gathered by :	PRT

Analysis Done by :	RAS

Report Prepared by :	JYO

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	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.

MIRA INFORM REPORT

(18.18)

16.70

(2.81)

(0.13)

3.14

0.59

Unit