MIRA INFORM REPORT

Report Date :

04.02.2014

IDENTIFICATION DETAILS

Name :	GRENTEX AND COMPANY PRIVATE LIMITED
Registered Office :	G R Woollen Mills Compound, L.B.S. Marg, Post Box No. 9274, Ghatkopar (West), Mumbai – 400 086, Maharashtra
Country :	India
Financials (as on) :	31.03.2007
Date of Incorporation :	28.09.1992
Com. Reg. No.:	11-68755
Capital Investment / Paid-up Capital :	Rs. 37.300 Millions
CIN No.: [Company Identification No.]	U17110MH1992PTC068755
TAN No.: [Tax Deduction & Collection Account No.]	MUMG08345B
PAN No.: [Permanent Account No.]	AAACG2810P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporters of Woollen Products
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Exist
Comments :	Subject is a well-establishment company having a moderate track record. Mr. Sanjay (Director) has denied to give any information. However, the confirmed that the company are regularly filing the financial but due to some error in Registrar of Companies site its not getting uploaded. Business is as per the status shown in the registrar of companies. Payments are reported to be unknown. The company can be considered for business dealings on safe and secured 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.

INDIAN ECONOMIC OVERVIEW

The services sector, the largest contributor to India’s GDP, contracted for the sixth consecutive month in December, as orders dipped. However, hiring has risen.  Direct tax collections rose 12.3 % during the April – December period of the current financial year.  The government has decided to retain 100 per cent foreign direct investment in both greenfield (new) and brown field (existing) pharmaceutical companies, despite concerns over genetic drugs going out of production, if multi-national companies take over domestic ones. In M&A deals, a non compete clause would not be allowed, except in special circumstances. The Department of Industrial Policy and Promotion plans to release the next edition of its consolidated foreign direct investment policy document on March 31, incorporating changes made in the past year. DIPP compiles all policies related to India’s FDI regime into a single document to make it easy for investors to understand. 185 million estimated number of mobile internet users in India by June 2014, according to a report by the Internet & Mobile Association of India and IMRB International.  India had 110 million mobile internet users with 25 million in rural areas. $3.77 tn estimated global IT spending in 2014, according to research firm Gartner Inc. The growth forecast for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast for telecom services – a segment that accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason for this overall IT cut. A Reserve Bank of India committee has recommended setting up a special category of lenders who would cater to small businesses and households, to expand the number of customers with access to banking services. These banks would focus onproviding payment services and deposit products.  Indian banks want the free use of automated teller machines to be capped at five transactions in a month including that of the bank in which the account is active. This follows state government order to banks to install security guards at ATM booths after a woman banker was assaulted in Bangalore. The government is likely to present a vote on Account in mid-February. The annual Economic Survey will be tabled later in Parliament along with the full Budget. A full Budget for 2014/15 is likely to be present in July by the new government formed after the General Election. The government will soon launch an internet spy system, called Netra, to detect malafide messages. Security agency will deploy the system to capture dubious voice traffic on applications such as Skype and Google Talk, as well as tweeters.

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.

INFORMATION PARTED BY

Name :	Mr. Sanjay Kazaria
Designation :	Director
Contact No.:	91-9821073285
Date :	31.01.2014

LOCATIONS

Registered Office :	G R Woollen Mills Compound, L.B.S. Marg, Post Box No. 9274, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India
Tel. No.:	91-22-25116885 / 6
Fax No.:	91-22-25114842
E-Mail :	grentex@vsnl.com
Factory :	Plot No. 1623/24, GIDC, Sarigam, District Vapi, Gujarat, India
Sales Depot :	Amritsar, Punjab, India

DIRECTORS

As on 31.03.2007

Name :	Mr. Ravikant Kapur
Designation :	Director
Address :	G. R. Woolen Mills Private Limited Compound, L.B.S. Marg, Ghatkopar (West), Mumbai – 400 086, Maharashtra, India
Date of Birth/Age :	21.04.1952
Qualification :	B. Com. (Mumbai University)
Date of Appointment :	28.09.1992
Name :	Mr. Rajeev Rajan Kapur
Designation :	Director
Address :	G. R. Woolen Mills Private Limited Compound, L.B.S. Marg, Ghatkopar, Mumbai – 400 086, Maharashtra, India
Date of Birth/Age :	15.07.1953
Date of Appointment :	28.09.1992
Name :	Mr. Jayaprakash Shetty
Designation :	Director
Address :	B-101, Kusum Bharati, Dattapada Road, Borivli (East), Mumbai – 400 066, Maharashtra, India
Date of Birth/Age :	16.08.1948
Date of Appointment :	18.02.1997
Name :	Mr. Shyamsunder Kapur
Designation :	Director
Address :	224, Queens Road, Amritsar – 143 001, Punjab, India
Date of Birth/Age :	19.05.1925
Date of Appointment :	28.09.1992
Name :	Mr. Sanjay Kazaria
Designation :	Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2007

Names of Shareholders (As on 30.09.2005) :-	No. of Shares
Mrs. Sharda S. Kapur	168000
Mr. Ravikant S. Kapur	140000
Mr. Rajeev R. Kapur
Mr. Shashikant S. Kapur
Mr. Ravikant S. Kapur	980000
Mr. Rajeev Rajan Kapur	980000
Mr. Benu S. Kapur	308000
Grentex Yarns Private Limited	112000
Grentex Wools Private Limited	112000
Radisson International Limited	371153
Gokalchand Ratanchand Woollen Mills Private Limited	558847
Total	3730000

As on 31.03.2007

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	9.95
Directors or relatives of Directors	69.07
Other top fifty shareholders	20.98
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers and Exporters of Woollen Products
Products :	Wool Tops Wool Worsted Yarn Woollen Yarn

PRODUCTION STATUS (As on 31.03.2005) :-

Particulars	Unit	Installed Capacity	Actual Production
Wool Tops	MTPA	4200	2178125.25
Noil/Waste	MTPA	60	NA
Worsted Yarn	MTPA	1000	NA
Non-Worsted Yarn	MTPA	2000	NA
Dyed Wool	MTPA	600	NA

GENERAL INFORMATION

No. of Employees :	400 (Approximately)
Bankers :	State Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India

Banking Relations :	---
Auditors :
Name :	P D Kunte and Company Chartered Accountants
Address :	205/206, Turf Estate, Shakti Mill Lane, Dr. E Moses Roads, Mahalaxmi West, Mumbai – 400 011, Maharashtra, India
Parent Company :	Gokalchand Rattanchand Woollen Mills Private Limited - It was started as a worsted wool mill in the year 1954 in Mumbai. This mill has the capacity to produce worsted/semi worsted yarn in pure wool and wool/nylon approximately 120/150 tons per month depending on count. Subject was awarded the following export Awards/Certificates : Trophy for outstanding export performance (worsted yarn) during : - 1973-74 1974-75 1975-76 1976-77 1977-78 Certificate of Merit for achieving export during 1998-99
Associates	· Grentex Yarns Private Limited · Grentex Wools Private Limited · Radisson International Limited
Memberships :	Wool & Woollen Export Promotion Council
Subsidiaries :	· Grentex Spinners Private Limited (CIN :-U17120MH1992PTC066075)

CAPITAL STRUCTURE

As on 31.03.2007

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs. 10/- each	Rs. 50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3730000	Equity Shares	Rs. 10/- each	Rs.37.300 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		37.300	37.300	37.300
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		118.081	103.189	109.190
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		155.381	140.489	146.490
LOAN FUNDS
1] Secured Loans		7.864	32.928	5.659
2] Unsecured Loans		45.774	25.273	35.974
TOTAL BORROWING		53.638	58.201	41.633
DEFERRED TAX LIABILITIES		8.190	8.970	8.227
TOTAL		217.209	207.660	196.350
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		89.896	93.997	91.763
Capital work-in-progress		16.549	9.844	1.021
INVESTMENT		0.125	0.125	6.428
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	103.089	62.576	124.893
	Sundry Debtors	52.980	52.510	8.418
	Cash & Bank Balances	31.686	24.043	23.939
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	26.394	29.153	19.949
Total Current Assets		214.149	168.282	177.199
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	102.468	63.806	79.443
	Provisions	1.042	0.782	0.618
Total Current Liabilities		103.510	64.588	80.061
Net Current Assets		110.639	103.694	97.138
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		217.209	207.660	196.350

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover	402.813	392.768	394.005
Total Income	402.813	392.768	394.005
Profit/(Loss) Before Tax	23.974	19.311	26.293
Provision for Taxation	--	--	11.913
Profit/(Loss) After Tax	23.974	19.311	14.380
Export Value	328.263	342.766	237.243
Import Value	NA	NA	260.127
Expenditures :
Interest	6.364	5.353	NA
Depreciation & Amortization	9.479	10.534	NA
Other Expenditure	362.996	357.570	NA
Total Expenditure	378.839	373.457	367.712

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	5.95	4.92	3.65
Net Profit Margin (PBT/Sales)	(%)	5.95	4.92	6.67
Return on Total Assets (PBT/Total Assets}	(%)	7.89	7.36	9.78
Return on Investment (ROI) (PBT/Networth)		0.15	0.14	0.18
Debt Equity Ratio (Total Debt /Networth)		1.01	0.87	0.83
Current Ratio (Current Asset/Current Liability)		2.07	2.61	2.21

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT: NOT AVAILABLE

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	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	Yes
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	No
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	No

LITIGATION DETAILS
Bench:- Bombay
Lodging No. :	ITXAL/2152/2010	Failing Date:-	05/10/2010	Reg. No.:-	ITXA/5740/2010	Reg. Date:-	27/10/2010
Petitioner:-	THE COMMISSIONER OF INCOME TAX -10		Respondent:-	GRENTEX AND COMPANY PRIVATE LIMITED
Petn.Adv:-	SUCHITRA KAMBLE (0)		Resp. Adv.:
District:-	MUMBAI
Bench:-	DIVISION		Category:-	TAX APPEALS
Status:-	Admitted (Unready)		Stage:-	FOR ADMISSION – FRESH
Last Date:-	17/10/2011
Last Coram:-	HON’BLE SHRI JUSTICE J.P. DEVADHAR HON’BLE SHRI JUSTICE K.K. TATED
Act. :	Income Tax Act,1961			Under Section 260A

HISTORY

Subject was incorporated on 28.09.1992 at Mumbai in Maharashtra having Company Registration Number 68755.

Subject was originally formed as a partnership concern in the year 1980 and subsequently registered as a private limited liability company for expansion of its capacity with a view to concentrate on exports.

Grentex is privately owned family managed company incorporated in 1982, manufacturing is located near Mumbai, India.

The parent company Gokalchand Rattanchand Woollen Mills celebrated 50 years in 2003/04 and engaged in manufacture of high quality worsted/knitting/hosiery yarns. During the 1970's the mill was awarded trophies for highest exports performance.

Plants are located in Mumbai, Maharashtra & Gujarat.

Subject is the leading wool yarn exporter from India for soft furnishings & upholstery, with virtually all the production being exported worldwide.

The company was the first 'Fernmark' Licensee in India and a brand partner spinner of high quality wool yarn out of New Zealand Wool for first few years.

Products

Subject is a fully equipped yarn-spinning mill that offers a wide range of products. Subject is centrally located geographically to the best wools of the world and we offer all three types of spinning systems.

Product Range :-

Wool Tops

· Ecru

· Bleached

· Blended

Semi-worsted/Worsted Yarns

· Ecru

· Heathers/Berbers

· Solid Shades

· Marls

· Blends-with synthetic fibers

· Hard Twist/Frieze

Woollen Carded yarns

· Ecru

· Heathers/Berbers

· Solid Shades

· Marls

· Blends-with synthetic fibers

Hard Twist/Frieze

Infrastructure

Head Office along with the semi-worsted/worsted plant is in a suburb of Mumbai; the financial capital of India and the scouring/dyeing/top making/woolen spinning is in Gujarat, which is about 100 miles north of Mumbai. Subject is few kilometers distance from the port/airport.

· All the raw material is imported from around the globe

· All the machinery is imported mainly from West Europe

· All the spare parts/consumables are imported

· Subject has decades of technical expertise for maintaining a high standard of the products.

Subject has been awarded Trophies and Certificates by Wool & Woollens Export Promotion Council, Ministry of Textiles for high export performance and growth in exports, which are as under :

v Certificate of Merit for second highest export performance in Woollen Worsted Yarn during 1987-88

v Certificate of Merit for the third highest export performance in Woollen Worsted Yarn during 1988-89

v Certificate of Merit for growth in exports in the Woollen / Worsted Yarn sector during 1989-90

v Certificate of Merit for achieving more than 33% increase in export performance in woollen / worsted / flax yarn during 1993-94

v Certificate of Merit for achieving more than 33% increase in export performance in woollen / worsted / flax yarn during 1994-95

v Certificate of Merit for 100% growth in exports with a minimum of Rs. 10 millions in woollen / worsted / flax yarn during 1995-96

v Award for the third highest export performance in yarn during 1998-99

v Award for the third highest export performance in yarn during 1999-2000

v Certificate of Merit for achieving more than 25% increase in export performance of yarn during 1999-2000

v Certificate of Merit for 50% growth in exports with a minimum of Rs. 10 millions in yarn during 1999-2000

FIXED ASSETS:-

· Land

· Factory Buildings

· Vehicles

· Furniture and Fixtures

· Plant and Machinery

Working:-

Company is making all possible efforts to improve its exports and also increase its Wool Combing job work.

As a measure, for increasing the production capacity, the company has substantially increased the production capacity and should be good for the company in near future.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90378451	15/12/2005 *	4,449,851.00	ANDHRA BANK	SOMAJIGUDA BRANCH, ASTRAL HEIGHTS, HYDERABAD, ANDHRA PRADESH, INDIA
2	90376737	04/11/2005	429,134.00	SUNDARAM FINANCE LTD.	NO. 21 PATULLOS ROAD, CHENNAI, TAMILNADU, INDIA
3	90376733	03/01/2005	10,780,000.00	ANDHRA BANK	HYDERABAD, HYDERABAD, ANDHRA PRADESH, INDIA
4	90378263	30/03/2000	2,000,000.00	STATE BANK OF INDIA	BABLE HOUSE BRANCH, H.P. ROAD, SECUNDERABAD, ANDHRA PRADESH, INDIA
5	90376725	22/09/1999	1,500,000.00	ANDHRA BANK	HITEC CITY, HYDERABAD, ANDHRA PRADESH, INDIA
6	90378066	13/02/1997	2,000,000.00	STATE BANK OF INDIA	R.P. ROAD BRANCH, SECUNDERABAD, ANDHRA PRADESH, INDIA
7	90377717	29/07/1992	2,000,000.00	ANDHRA BANK	TRUNK ROAD BRANCH, NELLORE, HYDERABAD, ANDHRA PRADESH, INDIA
8	90377562	26/10/1989	100,000.00	BANK OF BARODA	28 RAJAJI SALAI, MADRAS, TAMILNADU, INDIA
9	90376914	25/03/1979	100,000.00	CENTRAL BANK OF INDIA	RANIGANJ BRANCH, SECUNDERABAD, ANDHRA PRADESH, INDIA

* Date of charge modification

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.62.69
UK Pound	1	Rs.102.97
Euro	1	Rs.84.58

INFORMATION DETAILS

Information Gathered by :	HNA
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	YES
--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		11

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.