MIRA INFORM REPORT

 

 

Report Date :

26.12.2014

 

IDENTIFICATION DETAILS

 

Name :

NORKEM LIMITED

 

 

Formerly Known as : 

R.N. COLLING (NORCHEM) LIMITED

 

 

Registered Office :

Norkem House, Bexton Lane, Knutsford, Cheshire, Wa16 9fb

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.01.1973

 

 

Com. Reg. No.:

01091369

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Engaged as International Stockist, Distributor and producer of high quality Speciality and Industrial Chemicals.

 

 

No of Employees :

54 (31.12.2013)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear 

 

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)

United Kingdom

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

United Kingdom ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of Ł375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

 

Source : CIA

 

 

Company identification    

 

NORKEM LIMITED

Telephone

+44 (0) 1565 755550

NORKEM HOUSE

Fax

+44 (0) 1565 755496

BEXTON LANE

Website

www.norkem.com   

KNUTSFORD

CHESHIRE

WA16 9FB

United Kingdom

 

Company Number:        01091369 Foundation:      18/01/1973

 

Status:

VAT No:

 

Active - Accounts Filed

N/A

 

           

Comments  

 

No exact match CCJs are recorded against the company. Sales in the latest trading period increased 22.7% on the previous trading period.

 

Net Worth increased by 9.8% during the latest trading period. A 4.4% growth in Total Assets occurred during the latest trading period. Pre-tax profits increased by 20.3% compared to the previous trading period. The audit report contains no adverse comments.

 

The company saw a decrease in their Cash Balance of 11.4% during the latest trading period.

 

The company has undergone recent changes in its directorships. The company is part of a group. The company was established over 41 years ago. 

 

 

Legal form

 

Private limited with Share Capital

 

 

Foundation     

 

18/01/1973

 

 

Company No.

 

01091369

 

Previous Names

 

 Date of Change            Previous Name

18/04/1984                    R.N. COLLING (NORCHEM) LIMITED

31/12/1976                    R.N. COLLING LIMITED

 

 

Shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

NORKEM HOLDINGS PLC

GBP

100

ORDINARY

1

Total Share Capital                                                                                                                         GBP 100

 

 

Management

 

Directors

 

Name

Address:

Date of birth

Nationality

Appointment date

 

Mr Michael John Smith

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

20/12/1942

British

28/07/1992

 

Mr Alan Nicholson

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

17/06/1949

British

28/07/1992

Mrs Lynne Patricia Colling

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

24/11/1950

British

28/07/1992

Mr Graham Lewis

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

23/04/1964

British

01/07/2002

Mr David John Robinson

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

15/03/1978

British

01/01/2008

 

Mr Paul Ian Connolly

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

12/06/1954

British

01/01/2014

 

Mr David John Miller

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

21/11/1968

British

01/01/2014

 

Mr Mark Gregory

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

21/04/1967

British

01/01/2014

 

 

Company Secretary

Name

Address:

Appointment date

Mrs Lynne Patricia Colling

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB

28/07/1992

 

Other Known Addresses   

 

Norkem House, Bexton Lane, Knutsford, Cheshire WA16 9FB                                                                                

 

 

Company relationships

 

Company No.   Ultimate parent Name               Status              Country           

02200260          NORKEM HOLDINGS PLC         Active               United Kingdom           

 

 

Business activities

 

Main activity                                                                                                                                                                

Principal Activity

Engaged as International stockist, distributor and producer of high quality speciality and industrial chemicals.

SIC03

Wholesale of chemical products

SIC07

Wholesale of chemical products

 

Subject operates in following six sectors

 

Agrochemical Sector

Subject offers a comprehensive range of products for use in the agriculture, horticulture and farm-care markets. Great care is taken in the sourcing of our products to ensure we meet mandatory standards as well as customers own requirements.

 

For agricultural and horticultural, specialise in the sourcing of micronutrient products for use in soil and foliar fertilizers as well as straights for greenhouses and nurseries.

 

Subject offer a wide range of trace elements such as straight salts, chelates, solutions and suspensions including Boric Acid, Magnesium Sulphate Anhydrous, Magnesium Sulphate Heptahydrate, Manganese Carbonate, Manganese Sulphate, Potassium Bicarbonate andZinc Oxide.

 

Animal Feed Sector

Subject supply trace elements and specialised additives for the animal feed industry.  Extensive research and sourcing allows them to offer a wide range of organic and inorganic products.

 

Feed materials - Calcined Magnesite

 

Trace elements - Zinc Oxide, Copper Sulphate and Manganous Oxide

 

Preservatives - Potassium Sorbate and Sodium Benzoate

 

Acidity regulators - Citric Acid, vitamins and amino acids

 

Processing and preservation aids for on-farm feeds and forages, hygiene and veterinary products - Copper Sulphate and Zinc Sulphate Heptahydrate,Hexahydrate or Monohydrate.

 

 

Food & Drink Sector

Subject supply the food and drink industry with a comprehensive range of ingredients and additives.


subject have a growing and varied customer base and supply many sectors within food and drink including:

·         Soft drinks, alcoholic drinks, ciders and general beverages

·         Bread, cakes, biscuits and baking

·         Sweets, chocolate and confectionery

·         Sauces, condiments and mayonnaises

·         Flavours and Fragrances

·         Seasonings and coatings

·         Fruit, salads and vegetables

·         Meats, Fish and Crustaceans

 

Industrial Sector

Engaged in offering an extensive range of industrial and speciality chemicals, the Norkem Group have over forty years of experience in the supply and distribution of these products.

 

Pharmaceuticals Sector

The Norkem Group is a major supplier to the global pharmaceutical sector. Subject can supply an extensive range of active pharmaceutical ingredients (API’s), intermediates and reagents.

 

Suspensions Sectors

Engaged as producer and supplier of water based suspensions for the manufacture of high quality clay bricks, roof tiles and pavers.

 

 

Economic data

 

Turnover and Employees

 

Date of Accounts                                                                Turnover                     Employees            

31/12/2011

GBP 71,306,773

55

31/12/2012

GBP 67,031,194

54

31/12/2013

GBP 82,227,275

54

 

 

Supplementary data

           

Banks

 

Bank Name

BARCLAYS BANK PLC

 

           

Auditor

 

Auditor name

GRANT THORNTON UK LLP KPMG LLP 

 

Events

           

Company history

Date                                 Action

07/07/2010

New Accounts Filed

 

07/08/2010

Annual Returns

 

15/07/2011

New Accounts Filed

15/07/2011

New Accounts Filed

09/08/2011

Annual Returns

06/07/2012

New Accounts Filed

06/07/2012

New Accounts Filed

13/08/2012

Annual Returns

24/07/2013

New Accounts Filed

24/07/2013

New Accounts Filed

16/08/2013

Annual Returns

27/02/2014

New Board Member Mr M. Gregory appointed

27/02/2014

New Board Member Mr D.J. Miller appointed

27/02/2014

New Board Member Mr P.I. Connolly appointed

 

12/07/2014

New Accounts Filed

 

03/09/2014

Annual Returns

 

 

 

Mortgages

 

 

Charge created

05/10/1982

Charge registered

20/10/1982

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Mortgage detail

F/H LAND AND BUILDINGS LYING TO THE WEST OF BEXTON LANE, KNUTSFORD CHESHIRE TITLENO: CH 185149

 

 

Charge created

28/04/1983

Charge registered

12/05/1983

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UN- CALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

 

Charge created

06/02/1986

Charge registered

26/02/1986

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Mortgage detail

SLATERS YARD, KNUTSFORD, CHESHIRE, T/NOCH 240447 AND PART CH 240484

 

Charge created

21/05/1986

Charge registered

11/06/1986

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Mortgage detail

15 RUSKIN STREET, KNUTSFORD CHESHIRE.

 

 

Charge created

09/07/1992

Charge registered

16/07/1992

Status

SATISFIED

Entitled person

CLOSE BROTHERS LIMITED

Mortgage detail

ALL ITS RIGHT TITLE AND INTEREST IN ANDTO ALL SUMS PAYABLE UNDER THE INSURANCEFOR FULL DETAILS SEE FORM 395

 

 

Charge created

21/04/1996

Charge registered

01/05/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Mortgage detail

LAND  AND  BUILDINGS  ON  THE  NORTH  WEST  SIDE  OF  BEXTON  LANE KNUTSFORD CHESHIRE T/NO. CH155518

 

 

Charge created

18/01/2008

Charge registered

26/01/2008

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

 

 

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UN- CALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

 

Charge created

03/08/2011

Charge registered

09/08/2011

Status

OUTSTANDING

Entitled person

HSBC BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

LAND AND BUILDINGS ON THE NORTH WEST SIDE OF BEXTON LANE KNUTSFORD T/N CH155518, WITH THE BENEFIT OF ALL RIGHTS, LICENCES, GUARANTEES, RENT DEPOSITS, CONTRACTS, DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE PROPERTY. ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY. ANY GOODWILL OF ANY BUSINESS FROM TIME TO TIME CARRIED ON AT THEPROPERTY. ANY RENTAL AND OTHER MONEY PAYABLE UNDER ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF THE PROPERTYAND ALL OTHER PAYMENTS WHATEVER IN RESPECT OF THE PROPERTY

 

 

Charge created

09/08/2011

Charge registered

10/08/2011

Status

OUTSTANDING

Entitled person

HSBC BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UN- CALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY

 

 

Charge created

30/08/2011

Charge registered

01/09/2011

Status

OUTSTANDING

Entitled person

HSBC INVOICE FINANCE (UK) LTD (”THE SECURITY HOLDER”)

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMEN- TIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Mortgage detail

BY WAY OF FIRST FIXED CHARGE ALL DEBTS AND ALL EXPORT DEBTS PUR- PORTEDLY ASSIGNED TO THE SECURITY HOLDER PURSUANT TO THEDEBT PUR- CHASE AGREEMENT. ALL ASSOCIATEDRIGHTS RELATING TO ANY NON-VESTING DOMESTIC DEBTS AND NON-VESTING EXPORT DEBTS. BY WAY OF FIRST FIXED CHARGE THE EXCLUDED PROCEEDS AND BY WAY OF FIRST FLOATING CHARGE ALL PRESENT AND FUTURE ASSETS UNDERTAKING AND ALL OTHER PROPERTY AND ASSETS SEE IMAGE FOR FULL DETAILS

 

 

County Court Judgments (CCJs)     

 

There are no County Court Judgments listed against this company

 

Accounts

 

Profit & Loss

 

31/12/2013

52

GBP

Group: No

31/12/2012

52

GBP

Group: No

31/12/2011

52

GBP

Group: No

31/12/2010

52

GBP

Group: No

Turnover

82,227,275

67,031,194

71,306,773

61,478,468

Export

34,957,766

23,646,313

27,447,765

23,385,108

Cost of Sales

74,409,326

60,396,471

63,416,920

54,579,507

Gross Profit

7,817,949

6,634,723

7,889,853

6,898,961

Wages And Salaries

4,407,650

3,814,132

4,575,270

3,347,466

Directors Emoluments

2,400,925

1,809,846

2,349,238

1,613,045

Operating Profit

1,768,033

1,380,072

1,448,935

1,876,042

Depreciation

54,521

81,254

78,498

53,881

Audit Fees

15,000

16,100

16,100

14,560

Interests Payments

453,360

333,929

284,363

209,416

Pre Tax Profit

1,402,144

1,165,704

1,218,640

1,705,278

Taxation

-380,467

-310,111

-338,131

-491,422

Profit After Tax

1,021,677

855,593

880,509

1,213,856

Dividends Payable

0

0

0

0

Retained Profit

1,021,677

855,593

880,509

1,213,856

 

Balance Sheet

 

31/12/2013

52

GBP

Group: No

31/12/2012

52

GBP

Group: No

31/12/2011

52

GBP

Group: No

31/12/2010

52

GBP

Group: No

Tangible Assets

1,794,928

1,824,727

1,883,880

2,381,146

Intangible Assets

0

0

0

0

Total Fixed Assets

1,794,928

1,824,727

1,883,880

2,381,146

Stock

7,766,110

8,126,267

12,218,519

7,932,748

Trade Debtors

12,646,248

12,587,965

10,332,605

9,780,333

Cash

122,792

138,643

799,860

323,476

Other Debtors

6,534,036

4,970,626

1,976,480

1,089,384

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

27,069,186

25,823,501

25,327,464

19,125,941

Trade Creditors

5,245,900

4,754,635

6,470,135

4,540,989

Bank Loans and Overdraft

9,108,902

8,718,925

7,120,885

5,355,851

Other Short Term Finance

341,906

203,167

273,441

106,778

Miscellaneous Current Liabilities

2,514,660

3,219,660

3,330,207

2,290,846

Total Current Liabilities

17,211,368

16,896,387

17,194,668

12,294,464

Bank Loans and Overdrafts LTL

9,317,180

9,047,975

7,570,363

5,881,785

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

208,278

329,050

449,478

525,934

 

Capital & Reserves

 

31/12/2013

52

GBP

Group: No

31/12/2012

52

GBP

Group: No

31/12/2011

52

GBP

Group: No

31/12/2010

52

GBP

Group: No

Called Up Share Capital

100

100

100

100

P and L Account Reserve

11,444,368

10,422,691

9,567,098

8,686,589

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

11,444,468

10,422,791

9,567,198

8,686,689

 

Other Financial Items  

 

31/12/2013

52

GBP

Group: No

31/12/2012

52

GBP

Group: No

31/12/2011

52

GBP

Group: No

31/12/2010

52

GBP

Group: No

Net Worth

11,444,468

10,422,791

9,567,198

8,686,689

Working Capital

9,857,818

8,927,114

8,132,796

6,831,477

Total Assets

28,864,114

27,648,228

27,211,344

21,507,087

Total Liabilities

17,419,646

17,225,437

17,644,146

12,820,398

Net Assets

11,444,468

10,422,791

9,567,198

8,686,689

 

Cash Flow

 

31/12/2013

52

GBP

Group: No

31/12/2012

52

GBP

Group: No

31/12/2011

52

GBP

Group: No

31/12/2010

52

GBP

Group: No

Net Cash Flow from Operations

629,912

-1,554,783

-436,420

479,470

Net Cash Flow before Financing

-285,056

-2,125,287

-1,200,435

-42,412

Net Cash Flow from Financing

-118,045

-115,209

-59,857

-96,068

Increase in Cash

-15,851

-661,217

476,384

197,033

 

Miscellaneous

 

31/12/2013

52

GBP

Group: No

31/12/2012

52

GBP

Group: No

31/12/2011

52

GBP

Group: No

31/12/2010

52

GBP

Group: No

Capital Employed

11,652,746

10,751,841

10,016,676

9,212,623

 

Financial Ratios

Name

31/12/2013

31/12/2012

31/12/2011

31/12/2010

Pre Tax Profit Margin

1.71 %

1.74 %

1.71 %

2.77 %

Current Ration

1.57

1.53

1.47

1.56

Sales or Net Working Capital

8.34

7.51

8.77

9.00

Gearing

81.41 %

86.81 %

79.13 %

67.71 %

Equity

39.65 %

37.70 %

35.16 %

40.39 %

Creditor Days

23.22

25.81

33.02

26.88

Debtor Days

55.98

68.35

52.74

57.90

Liquidity or Acid test

1.12

1.04

0.76

0.91

Return on Capital Employed

12.03 %

10.84 %

12.16 %

18.51 %

Return on Total Assets Employed

4.85 %

4.21 %

4.47 %

7.92 %

Current Debt Ratio

1.50 %

1.62 %

1.79 %

1.41 %

Total Debt Ratio

1.52 %

1.65 %

1.84 %

1.47 %

Stock Turnover Ratio

9.44 %

12.12 %

17.13 %

12.90 %

Return on Net Assets Employed

12.25 %

11.18 %

12.73 %

19.63 %

 

Remarks

The company reports that the turnover has increased with good profitability.  The general financial position appears satisfactory with continuing increases in shareholder’s funds. Remains to be seen how the company trades during the financial year ended December 2014

Net Profit Year Ended 31/12/2013 – 1,021,677GBP

Net Profit Year Ended 31/12/2012 – 855,593GBP

 

Activity:  International stockist, distributor and producer of high quality speciality and industrial chemicals

 

Trading Address confirmed : Norkem House, Bexton Lane. Knutsford, Cheshire WA16 9FB

 

Branches: Group operates Worldwide

 

Employees: 54

 

Bank: Barclays Bank PLC

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.46

UK Pound

1

Rs.98.51

Euro

1

Rs.77.31

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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

 

--

 

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%)

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.