MIRA INFORM REPORT

Report Date :

31.05.2014

IDENTIFICATION DETAILS

Name :	NEELACHAL ISPAT NIGAM LIMITED
Registered Office :	1^st Floor, Annexe Building, IPICOL House, Janpath, Bhubaneswar – 751022, Orissa
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	27.03.1982
Com. Reg. No.:	15-001050
Capital Investment / Paid-up Capital :	Rs.6026.513 Millions
CIN No.: [Company Identification No.]	U27109OR1982GOI001050
TAN No.: [Tax Deduction & Collection Account No.]	BBNN00082F
PAN No.: [Permanent Account No.]	AAACN9433B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Selling of Pig Iron.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 36740000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There are loss recorded by the company during 2013. The rating takes into consideration unconditional and irrevocable corporate guarantee extended by MMTC Limited (Government of India). However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

Indian Oil Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Proposed long term bonds A+ (SO)
Rating Explanation	Have adequate degree of safety and carry low credit risk.
Date	March 21, 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 31-03-2012.

INFORMATION DENIED

MANAGEMENT NON CO-OPERATIVE (91-674-2543741)

LOCATIONS

Registered Office :	1^st Floor, Annexe Building, IPICOL House, Janpath, Bhubaneswar – 751022, Orissa, India
Tel. No. :	91-674-2543741/ 2543354/ 2543231
Fax No. :	91-674-2541763
E-Mail :	parijadp@ninl.in
Website :	http://www.ninl.in
Factory :	Neelachal House, Kalinga Nagar, Industrial Complex, Duburi, Jajpur - 755026, Orissa , India
Tel. No. :	91-6726-264001-08
Fax No. :	91-6726-264009/ 264018/ 264049

DIRECTORS

As on 30.09.2013

Name :

Mr. Depinder Singh Dhesi

Designation :

Nominee Director

Address :

53, Sector – 7, Chandigarh – 160019, India

Date of Birth/Age :

07.06.1959

Date of Appointment :

08.10.2012

DIN No. :

01433541

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	U36999HR1996PLC033491	GURGAON TECHNOLOGY PARK LIMITED	Director	22/09/2007	22/09/2007	23/06/2010	Active	NO
2	L51909DL1963GOI004033	MMTC LIMITED	Managing director	08/10/2012	08/10/2012	-	Active	NO
3	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	08/10/2012	08/10/2012	-	Active	NO

Name :

Sheo Raj Jain

Designation :

Director

Address :

N-15 / 1, DLF Qutab Enclave, Phase – II, Gurgaon – 122022, Haryana, India

Date of Birth/Age :

29.10.1934

Date of Appointment :

13.04.1994

DIN No. :

00364293

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	U74899DL1993PTC054640	CONSTEEL INDIA PRIVATE LIMITED	Managing director	28/07/1993	28/07/1993	-	Active	NO
2	L26942OR1949PLC000185	OCL INDIA LIMITED	Director	25/11/1993	25/11/1993	-	Active	NO
3	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Director	13/04/1994	13/04/1994	-	Active	NO
4	L31300MP1945PLC001114	UNIVERSAL CABLES LIMITED	Director	18/07/2007	05/09/2006	-	Active	NO
5	L27102OR2006PLC008594	OCL IRON AND STEEL LIMITED	Additional director	11/07/2007	11/07/2007	17/02/2010	Active	NO
6	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	28/09/2013	29/05/2013	15/10/2013	Active	NO

Name :

Debiprasad Bagchi

Designation :

Nominee director

Address :

Y-165, Regency Park – II, DLF City Phase – IV, Behind Bristol Hotel, Gurgaon, Haryana, India

Date of Birth/Age :

21.10.1942

Date of Appointment :

21.02.2005

DIN No. :

00061648

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	L40105DL1999PLC099328	PTC INDIA LIMITED	Director	07/05/2004	07/05/2004	28/09/2011	Active	NO
2	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	21/02/2005	21/02/2005	-	Active	NO
3	L51109OR1996PLC004601	VISA STEEL LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
4	L26924UP1985PLC007595	KAJARIA CERAMICS LIMITED	Director	26/09/2007	29/06/2007	-	Active	NO
5	U74999DL2001PLC109103	JINDAL INDIA THERMAL POWER LIMITED	Additional director	04/05/2010	18/12/2007	-	Active	NO
6	U67120DL2008PLC174488	HINDUSTAN POWERGEN LIMITED.	Director	05/03/2008	05/03/2008	04/11/2008	Active	NO
7	U55101OR1982PLC001092	T K INTERNATIONAL LIMITED	Director	14/09/2009	06/05/2009	-	Active	NO
8	U65921UP1993PLC015170	SAHARA PRIME CITY LIMITED	Director	29/08/2009	22/08/2009	28/02/2014	Active	NO
9	U74999UP2007PLC034310	JINDAL INDIA POWERTECH LIMITED	Additional director	11/02/2010	11/02/2010	04/05/2011	Active	NO
10	U65993AP1995PLC019471	IND-BARATH POWER INFRA LIMITED	Director	27/09/2010	06/05/2010	-	Active	NO
11	U13100WB2010PTC140900	GREEN VALLEY ENERGY VENTURES PRIVATE LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
12	U67120UP1987PLC008909	SAHARA INDIA FINANCIAL CORPORATION LIMITED	Director	12/07/2012	21/11/2011	01/03/2014	Active	NO
13	L74899DL1992PLC050216	MIDEAST INTEGRATED STEELS LIMITED	Director	26/09/2012	27/03/2012	-	Active	NO

Name :

Mr. Udai Pratap Singh

Designation :

Nominee director

Address :

D-117, 2^nd floor, Pnachsheel Enclave, New Delhi – 110016, India

Date of Birth/Age :

01.10.1958

Date of Appointment :

28.12.2007

DIN No. :

02043525

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	U27310WB1964GOI026118	HINDUSTAN STEEL WORKS CONSTRUCTION LTD	Director	09/10/2007	09/10/2007	07/11/2008	Active	NO
2	U74140JH1973GOI001199	MECON LIMITED	Director	09/10/2007	09/10/2007	10/07/2012	Active	NO
3	L13100AP1958GOI001674	NMDC LIMITED	Director	11/12/2007	11/12/2007	30/07/2012	Active	NO
4	L51430WB1918GOI003026	THE ORISSA MINERALS DEVELOPMENT COMPANY LIMITED	Director	16/09/2011	12/12/2007	02/08/2012	Active	NO
5	U27102AP1975PLC001866	SPONGE IRON INDIA LTD	Director	20/12/2007	20/12/2007	25/04/2008	Amalgamated	NO
6	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	28/12/2007	28/12/2007	-	Active	NO
7	U27109AP1982GOI003404	RASHTRIYA ISPAT NIGAM LTD	Director	12/11/2009	12/11/2009	20/01/2010	Active	NO
8	L65993WB1927GOI005532	EASTERN INVESTMENTS LTD	Director	16/09/2011	01/06/2011	02/08/2012	Active	NO
9	L14100WB1910GOI001996	THE BISRA STONE LIME COMPANY LIMITED	Director	16/09/2011	01/06/2011	02/08/2012	Active	NO

Name :

Mr. Rajesh Verma

Designation :

Nominee Director

Address :

5R – 3, Forest Park, Unit – 1, Bhubaneswar – 751009, Khurda, Odisha, India

Date of Appointment :

27.08.2012

DIN No. :

01725746

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	L40101DL1969GOI005095	RURAL ELECTRIFICATION CORPORATION LIMITED	Nominee director	18/07/2007	18/07/2007	09/01/2008	Active	NO
2	L40101DL1975GOI007966	NTPC LIMITED	Nominee director	23/07/2007	23/07/2007	26/03/2009	Active	NO
3	U45203UR1988GOI009822	THDC INDIA LIMITED	Nominee director	23/07/2007	23/07/2007	30/03/2009	Active	NO
4	L40101HP1988GOI008409	SJVN Limited	Nominee director	23/07/2007	23/07/2007	26/03/2009	Active	NO
5	L40101DL1989GOI038121	POWER GRID CORPORATION OF INDIA LIMITED	Nominee director	02/08/2007	02/08/2007	26/03/2009	Active	NO
6	U45201OR1962SGC000433	THE INDUSTRIAL DEVELOPMENT CORPORATION OF ODISHA LIMITED	Director	18/08/2012	18/08/2012	31/08/2013	Active	NO
7	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	27/08/2012	27/08/2012	07/11/2013	Active	NO
8	U13100OR1956SGC000313	THE ODISHA MINING CORPORATION LIMITED	Director	25/09/2012	25/09/2012	-	Active	NO
9	U65993OR1973SGC000585	INDUSTRIAL PROMOTION AND INVESTMENT CORPORATION OF ODISHA LIMITED	Nominee director	25/09/2012	25/09/2012	28/12/2013	Active	NO

Name :

Mr. Govindarajan Mathivathanan

Designation :

Nominee Director

Address :

Type – 5R – 5, Unit – 1, Bhubaneswar – 751009, Khurda, Odisha, India

Date of Birth/Age :

03.01.1966

Date of Appointment :

14.09.2012

DIN No. :

01203901

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	U74999TN1965NPL005324	HANDLOOM EXPORT PROMOTION COUNCIL	Director	12/01/2005	12/01/2005	-	Active	NO
2	U40101OR1995SGC003963	ODISHA HYDRO POWER CORPORATION LIMITED	Director	21/05/2011	21/05/2011	01/08/2012	Active	NO
3	U40104OR1984SGC001429	ODISHA POWER GENERATION CORPORATION LIMITED	Director	21/05/2011	21/05/2011	29/07/2012	Active	NO
4	U40102OR2008SGC009955	BAITARNI WEST COAL COMPANY LIMITED	Nominee director	17/06/2011	17/06/2011	28/08/2012	Active	NO
5	U40102OR2007SGC009145	ODISHA THERMAL POWER CORPORATION LIMITED	Nominee director	23/06/2011	23/06/2011	30/08/2012	Active	NO
6	U40109OR1995SGC003960	GRIDCO LIMITED	Director	01/07/2011	01/07/2011	29/08/2012	Active	NO
7	U40102OR2004SGC007553	ODISHA POWER TRANSMISSION CORPORATION LIMITED	Director	01/07/2011	01/07/2011	29/08/2012	Active	NO
8	U60210OR2010PLC011624	BHUBANESWAR-PURI TRANSPORT SERVICES LIMITED	Director	12/09/2012	12/09/2012	05/11/2013	Active	NO
9	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	14/09/2012	14/09/2012	-	Active	NO
10	U70102OR2007SGC009241	PARADIP INVESTMENT REGION DEVELOPMENT LIMITED	Nominee director	22/09/2012	22/09/2012	-	Active	NO
11	U65993OR1973SGC000585	INDUSTRIAL PROMOTION AND INVESTMENT CORPORATION OF ODISHA LIMITED	Managing director	25/09/2012	25/09/2012	-	Active	NO
12	L27102OR1979PLC000819	ORISSA SPONGE IRON AND STEEL LIMITED	Nominee director	03/10/2012	03/10/2012	-	Active	NO
13	U01409OR1996SGC004357	THE AGRICULTURAL PROMOTION AND INVESTMENT CORPORATION OF ODISHA LIMITED	Nominee director	15/07/2013	15/07/2013	-	Active	NO

Name :

Saswata Mishra

Designation :

Nominee director

Address :

QRS No. A-4, VIP Colony Nayapalli, Bhubaneswar – 751015, Khurda, Odisha, India

Date of Birth/Age :

10.09.1973

Date of Appointment :

25.01.2010

DIN No. :

01724416

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	U75132OR2004NPL007530	JAJPUR CLUSTER DEVELOPMENT	Director	11/11/2005	11/11/2005	12/01/2006	Active	NO
2	U13100OR1956SGC000313	THE ODISHA MINING CORPORATION LIMITED	Managing director	04/05/2012	13/07/2009	-	Active	NO
3	U10101OR2004PTC007476	KALINGA COAL MINING PRIVATE LIMITED	Director	06/08/2009	06/08/2009	-	Active	NO
4	U13203OR2009PTC010954	SOUTH WEST ORISSA BAUXITE MINING PRIVATE LIMITED	Nominee director	14/08/2009	14/08/2009	-	Active	NO
5	U40102OR2007SGC009145	ODISHA THERMAL POWER CORPORATION LIMITED	Nominee director	19/10/2009	19/10/2009	-	Active	NO
6	U10200OR2009SGC010604	MANDAKINI-B COAL CORPORATION LIMITED	Managing director	23/12/2009	23/12/2009	-	Active	NO
7	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	25/01/2010	25/01/2010	-	Active	NO
8	U10100OR2011SGC013609	NUAGAON COAL COMPANY LIMITED	Director	11/05/2011	11/05/2011	-	Under Process of Striking off	NO
9	U51228OR2000SGC006372	ODISHA STATE BEVERAGES CORPORATION LIMITED	Director	14/02/2012	14/02/2012	30/08/2012	Active	NO
10	U92400OR2013NPL017552	ODISHA SPORTS DEVELOPMENT & PROMOTION COMPANY	Nominee director	23/12/2013	23/12/2013	-	Active	NO

Name :

Mr. Anand Trivedi

Designation :

Nominee director

Address :

Flat No – 2, Bhaveshwar Sagar, 20, Nepeansea Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

02.11.1959

Date of Appointment :

21.09.2012

DIN No. :

01077784

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	U74140MH1999PTC122127	SATGURU INFOCORP SERVICES PRIVATE LIMITED	Director	05/08/2002	05/08/2002	02/05/2008	Active	NO
2	L51909DL1963GOI004033	MMTC LIMITED	Whole-time director	03/07/2012	03/07/2012	-	Active	NO
3	U67120DL2008PLC182140	INDIAN COMMODITY EXCHANGE LIMITED	Nominee director	29/06/2013	08/08/2012	-	Active	NO
4	U63023DL2005PTC134299	FREE TRADE WAREHOUSING PRIVATE LIMITED	Director	10/09/2013	21/09/2012	-	Active	NO
5	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	21/09/2012	21/09/2012	-	Active	NO
6	U74899DL1969NPL005064	FEDERATION OF INDIA MINERAL INDUSTRIES	Director	31/07/2013	31/07/2013	-	Active	NO
7	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Additional director	24/03/2014	24/03/2014	-	Active	NO

Name :

Ved Prakash

Designation :

Nominee director

Address :

BF-63, BF Block, Janak Puri, Delhi – 110058, India

Date of Birth/Age :

12.02.1960

Date of Appointment :

30.10.2010

DIN No. :

02988628

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	L51909DL1963GOI004033	MMTC LIMITED	Whole-time director	19/02/2010	19/02/2010	-	Active	NO
2	U63023DL2005PTC134299	FREE TRADE WAREHOUSING PRIVATE LIMITED	Director	21/09/2012	31/03/2010	-	Active	NO
3	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	30/10/2010	30/10/2010	-	Active	NO
4	U63023DL2005PTC140106	GREATER NOIDA INTEGRATED WAREHOUSING PRIVATE LIMITED(100% F.SUB.CO)	Additional director	16/03/2011	16/03/2011	-	Active	NO
5	U85300DL1955NPL002999	THE FERTILISER ASSOCIATION OF INDIA.	Director	20/02/2013	20/02/2013	-	Active	NO

Name :

Madan Gopal Harpal Gupta

Designation :

Additional director

Address :

Flat No. 02, Bhaveshwar Sagar, Nepeansea Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

15.01.1957

Date of Appointment :

18.03.2011

DIN No. :

02200405

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	U74140MH1999PTC122127	SATGURU INFOCORP SERVICES PRIVATE LIMITED	Director	27/08/2008	02/05/2008	10/08/2011	Active	NO
2	U63023DL2005PTC134299	FREE TRADE WAREHOUSING PRIVATE LIMITED	Director	13/09/2011	23/12/2010	-	Active	NO
3	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Additional director	18/03/2011	18/03/2011	-	Active	NO
4	L51909DL1963GOI004033	MMTC LIMITED	Whole-time director	09/12/2011	09/12/2011	-	Active	NO
5	U67120DL2008PLC182140	INDIAN COMMODITY EXCHANGE LIMITED	Nominee director	17/09/2012	14/05/2012	08/10/2013	Active	NO
6	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Additional director	24/03/2014	24/03/2014	-	Active	NO

Name :

Mr. Rabindra Singh

Designation :

Nominee director

Address :

House No – 6, Ambience Fort Attapur, Hyderguda, Hyderabad – 500048, Andhra Pradesh, India

Date of Birth/Age :

08.08.1955

Date of Appointment :

30.08.2012

DIN No. :

03641126

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	L13100AP1958GOI001674	NMDC LIMITED	Whole-time director	01/10/2011	01/10/2011	-	Active	NO
2	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Nominee director	30/08/2012	30/08/2012	-	Active	NO

Name :

Mr. Siva Prasada Padhi

Designation :

Whole-time director

Address :

MP 1/136, Khandagiri Enclave, Near Sisugruh Khandagiri, Bhubaneswar – 751030, Khurda, Odisha, India

Date of Birth/Age :

01.06.1954

Date of Appointment :

27.01.2010

DIN No. :

02984779

Name :

Mr. Gurminder Singh Gill

Designation :

Whole-time director

Address :

QRS – 103, Block – 111, Township, Duburi, Jajpur – 755026, Odisha, India

Date of Birth/Age :

23.06.1952

Date of Appointment :

24.06.2013

DIN No. :

03048219

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	U27101CT2008PTC020786	SAIL & MOIL FERRO ALLOYS PRIVATE LIMITED	Nominee director	23/02/2010	23/02/2010	25/09/2012	Active	NO
2	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Whole-time director	24/06/2013	24/06/2013	-	Active	NO

Name :

Pradipta Kumar Mishra

Designation :

Managing director

Address :

QRS – 103, Block – 111, Township, Duburi, Jajpur – 755026, Odisha, India

Date of Birth/Age :

01.11.1952

Date of Appointment :

24.06.2013

DIN No. :

05315212

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	U27100DL2012PTC236499	SAIL-KOBE Iron India Private Limited	Additional director	01/06/2012	01/06/2012	21/11/2013	Active	NO
2	U27109OR1982GOI001050	NEELACHAL ISPAT NIGAM LTD	Managing director	24/06/2013	01/11/2012	-	Active	NO
3	U45201OR1962SGC000433	THE INDUSTRIAL DEVELOPMENT CORPORATION OF ODISHA LIMITED	Nominee director	31/08/2013	31/08/2013	-	Active	NO

KEY EXECUTIVES

Name :	Ms Durga Prasad Parija
Designation :	Secretary
Address :	Badam Badi, Cuttack – 753012, Odisha, India
Date of Birth/Age :	18.02.1960
Date of Appointment :	26.06.1996
PAN No.:	AAPPP6637H

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Government companies	91.98
Public financial companies	4.45
Nationalised or other banks	2.25
Bodies corporate	1.32
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Selling of Pig Iron.

Products :

Item Code No. (ITC Code)	Product Description
2011000	Pig iron
72071905	Billets
2130000	Wire Rods
72041000	Iron Scrap
26180000	Granulated Slag
27040002	BF Coke
270600	Crude Tar
310221	Ammonium Sulphate
730890	Electric Power

PRODUCTION STATUS (AS ON 31.03.2011)

(Quantity in tonnes)

Particulars	2010-2011
Own Products
Licensed Capacity	Not applicable
Installed Capacity (Hot Metal)	1099000 TPA
Production (Pig Iron)	573375 TPA

(Quantity in tonnes)

Particulars	Production
Pig Iron	573375
Granulated Slag	202856
Scrap	76543
BF Coke	504885
Crude Tar	24901
Ammonium Sulphate	8514

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

v State Bank of India, Commercial Branch, IDCOL House, Unit - 2, Ashok Nagar, Bhubaneswar – 751009, Orissa, India

v Bank of Baroda, BBSR Branch, 91/92 Bapuji Nagar, Bhubaneswar – 751009, Orissa, India

v Indian Bank, Main Branch, G/41, Cannught Circus, New Delhi – 110001, India

v Allahabad Bank

v Indian Overseas Bank

v Oriental Bank of Commerce

v State Bank of Mysore

v State Bank of Travancore

v Union Bank of India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Non-convertible debentures	2000.000	2000.000
Rupee term loan from bank	12279.379	13102.441
Term loans from others	3.704	3.704
SHORT TERM BORROWINGS
Debentures	0.000	53.333
Rupee term loan from bank	2396.077	1522.000
Working capital loans from bank	1010.771	396.978
Total	17689.931	17078.456

Banking Relations :	--
Financial institution :	Housing and Urban Development Corporation Limited, HUDCO Bhawan, Habitat Centre, Lodhi Road, New Delhi – 110003, India
Auditors :
Name :	Tej Raj and Pal Chartered Accountants
Address :	1, Kalpana Square, Bhubaneswar, Odisha, India
PAN No. :	AAAFP7471J

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
900000000	Equity Shares	Rs.10/- each	Rs.9000.000 Millions
100000000	Preference shares	Rs.10/- each	Rs.1000.000 Millions
	Total		Rs.10000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
574368143	Equity Shares (Fully paid up Shares)	Rs.10/- each	Rs.5743.681 Millions
13852000	Equity Shares (Not Fully paid up Shares)	Rs.10/- each	Rs. 69.260 Millions
21357172	Preference shares	Rs.10/- each	Rs.213.572 Millions
	Total		Rs.6026.513 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	6026.513	6026.513	5008.677
(b) Reserves & Surplus	3158.780	3950.234	3185.335
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	1806.855
Total Shareholders’ Funds (1) + (2)	9185.293	9976.747	10000.867
(3) Non-Current Liabilities
(a) long-term borrowings	14329.031	15152.093	15417.735
(b) Deferred tax liabilities (Net)	614.126	963.403	274.625
(c) Other long term liabilities	1485.049	1423.385	1304.234
(d) long-term provisions	202.094	182.258	0.000
Total Non-current Liabilities (3)	16630.300	17721.139	16996.594
(4) Current Liabilities
(a) Short term borrowings	3406.848	1972.311	2503.386
(b) Trade payables	4589.909	2896.734	4105.510
(c) Other current liabilities	935.774	908.803	665.316
(d) Short-term provisions	8.010	90.570	232.440
Total Current Liabilities (4)	8940.541	5868.418	7506.652
TOTAL	34756.134	33566.304	34504.113
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12658.339	13653.183	12176.977
(ii) Intangible Assets	0.000	0.197	0.000
(iii) Capital work-in-progress	15743.292	13320.685	13025.610
(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	836.896	791.454	755.117
(e) Other Non-current assets	5.369	0.000	0.000
Total Non-Current Assets	29243.896	27765.519	25957.704
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4792.478	4251.930	5225.903
(c) Trade receivables	71.533	161.565	130.396
(d) Cash and cash equivalents	292.201	885.515	2499.997
(e) Short-term loans and advances	347.337	484.635	690.113
(f) Other current assets	8.689	17.140	0.000
Total Current Assets	5512.238	5800.785	8546.409
TOTAL	34756.134	33566.304	34504.113

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	14815.358	19312.166	15756.627
		Other Income	78.643	197.730	89.817
		TOTAL	14894.001	19509.896	15846.444
Less	EXPENSES
		Cost of Materials Consumed	12482.924	12511.355	14664.856
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(885.370)	1837.095	(1662.993)
		Employees benefits expense	828.745	784.940	669.014
		Other expenses	1526.792	1878.060	1780.472
		TOTAL	13953.091	17011.450	15451.349
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		940.910	2498.446	395.095
Less	FINANCIAL EXPENSES		1023.120	1120.961	1195.487
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(82.210)	1377.485	-800.392
Less/ Add	DEPRECIATION/ AMORTISATION		1058.521	941.619	931.006
	PROFIT/ (LOSS) BEFORE TAX		(1140.731)	435.866	(1731.398)
Less	TAX		(349.277)	141.417	0.000
	PROFIT/ (LOSS) AFTER TAX		(791.454)	294.449	(1731.398)
	Earnings / (Loss) Per Share (Rs.)
	Basic		(1.36)	0.45	(4.14)
	Diluted		(1.31)	0.43	(4.14)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(5.31)	1.51	(10.93)
Net Profit Margin (PBT/Sales)	(%)	(7.70)	2.26	(10.99)
Return on Total Assets (PBT/Total Assets}	(%)	(6.00)	2.15	(8.06)
Return on Investment (ROI) (PBT/Networth)		(0.12)	0.04	(0.17)
Debt Equity Ratio (Total Debt/Networth)		1.93	1.72	1.79
Current Ratio (Current Asset/Current Liability)		0.62	0.99	1.14

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	5008.677	6026.513	6026.513
Reserves & Surplus	3185.335	3950.234	3158.780
Share Application money pending allotment	1806.855	0.000	0.000
Net worth	10000.867	9976.747	9185.293
long-term borrowings	15417.735	15152.093	14329.031
Short term borrowings	2503.386	1972.311	3406.848
Total borrowings	17921.121	17124.404	17735.879
Debt/Equity ratio	1.792	1.716	1.931

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	15756.627	19312.166	14815.358
		22.565	(23.285)

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	15756.627	19312.166	14815.358
Profit	(1731.398)	294.449	(791.454)
	(10.99%)	1.52%	(5.34%)

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	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 LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Non-convertible debentures	45.948	45.948
Total	45.948	45.948

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10452817	28/09/2013	1,000,000,000.00	ALLAHABAD BANK	INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR, KOLKATA, West Bengal - 700001, INDIA	B86559382
2	10266372	16/02/2011	1,000,000,000.00	CENTRAL BANK OF INDIA	JANPATH BRANCH, 95, JANPATH, UNIT - 3, BHUBANESWAR, Orissa - 751001, INDIA	B06378996
3	10265918	24/01/2011	4,000,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, IDCOL HOUSE, UNIT - 2, ASHOK NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	B06199442
4	10188798	17/11/2009	1,500,000,000.00	State Bank of Hyderabad	Ground Floor, IPICOL House, Janpath, Bhubaneswar, Orissa - 751022, INDIA	A74646381
5	10163460	22/05/2009	1,250,000,000.00	UNION BANK OF INDIA	CHANDRASEKHARPUR BRANCH, PLOT NO. - 1731, POST - SAINIK SCHOOL, BHUBANESWAR, Orissa - 751005, INDIA	A64424427
6	10156764	13/05/2009	2,000,000,000.00	INDIAN BANK	MAIN BRANCH, G - 41 CONNAUGHT PLACE, NEW DELHI - 110001, INDIA	A62024799
7	10152351	27/03/2009	500,000,000.00	STATE BANK OF MYSORE	BHUBANESWAR BRANCH, IDCOL HOUSE, UNIT - II, ASHOK NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	A60046208
8	10157941	23/03/2009	2,000,000,000.00	DENA BANK	78, JANPATH, KHARAVELA NAGAR, BHUBANESWAR, Orissa - 751001, INDIA	A62184148
9	10147667	02/02/2009	1,000,000,000.00	ALLAHABAD BANK	NAYAPALLI, BHUBANESWAR BRANCH, 3/1 B, IRC VILLAGE, NAYAPALLI, BHUBANESWAR, Orissa - 751015, INDIA	A58762121
10	10100850	04/12/2009 *	13,543,700,000.00	State Bank of India	Commercial Branch, IDCOL House, Unit - 2, Ashok Nagar, Bhubaneswar, Orissa - 751009, INDIA	A75682682
11	10072956	17/08/2007	298,189,253.00	BANK OF BARODA	BHUBANESWAR MAIN BRANCH, 91/92 1ST FLOOR, BAPUJI NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	A21688932
12	10024468	29/05/2009 *	2,000,000,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, IDCOL HOUSE, UNIT - 2, ASHOK NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	A64336548
13	90080029	12/08/2003 *	750,000,000.00	INDUSTRIAL DEVELOPMEANT BANK OF INDIA	IDBI TOWER; WTC COMPLEX; CUFE PAREDE, MUMBAI, Maharashtra - 400005, INDIA	-
14	90080021	24/04/2009 *	3,020,500,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, IDCOL HOUSE, UNIT - II, ASHOK NAGAR, BHUBANESWAR, Orissa - 751009, INDIA	A60855160
15	90079976	12/08/2003 *	260,000,000.00	IFCI LIMITED	; IFCI TOWER, 61; NEHRU PLACE, NEW DELHI, Delhi, INDIA	-
16	90079690	12/10/1999	150,000,000.00	LIFFE INSURANDE CORPORATION OF INDIA	YOGAKSHEMA, JEEWAN BIMA MARG, MUMBAI, Maharashtra - 400021, INDIA	-
17	90079548	03/07/1998	700,000,000.00	INDUSTERIAL DEVELOPOMENT BANK OF INDIA	IDBI TOWER, CUFEE PARADE, BOMBAY, Orissa - 400005, INDIA	-
18	80012066	22/08/2006 *	7,208,187,938.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, IDCOL HOUSE, UNIT - II, ASHOK NAGAR, BHUBANESWAR, Orissa - 751001, INDIA	-
19	80012042	14/09/1999 *	22,500,000.00	ORIENTAL INSURANCE COMPANY LTD	ORIENTAL HOUSE, PB NO 7039, ASAF ALI ROAD, NEW DELHI - 110002, INDIA	-
20	80012043	14/09/1999 *	22,500,000.00	NATIONAL INSURANCE COMPANY LTD	3, MIDDLETON STREET , KOLKATA, KOLKATA, West Bengal - 700007, INDIA	-
21	80012044	14/09/1999 *	30,000,000.00	UNITED INSURANCE COMPANY LTD	24, WHITES ROAD, CHENNAI, CHENNAI, Tamil Nadu - 600014, INDIA	-
22	80012045	14/09/1999 *	37,500,000.00	THE NEW INDIA ASSURANCE COMPANY LTD	NEW INDIA ASSURANCE BUILDING, 87, MAHATMA GANDHI ROAD, FORT MUMBAI, MUMBAI, Maharashtra - 400001, INDIA	-
23	80012074	12/08/2003 *	73,000,000.00	LIFE INSURANCE CORPORATION OF INDIA	YOGA KSHEMA, JEEVAN BIMA MARG, MUMBAI, Maharashtra - 400002, INDIA	-
24	80012046	22/08/2006 *	48,352,355.00	GENERAL INSURANCE CORPORATION OF INDIA	SURAKSHA170 J TATA ROAD, CHURCHGATE, MUMBAI, Maharashtra - 400020, INDIA	-
25	80012060	10/06/2002 *	200,000,000.00	IFCI LTD	IFCI TOWER, 61 NEHERU PLACE, NEW DELHI, Delhi - 110019, INDIA	-
26	80012070	15/09/2003 *	355,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA	IDBI TOWER, CUFFE PARADE , MUMBAI, MUMBAI, Maharashtra - 400005, INDIA	-

* Date of charge modification

FIXED ASSETS

œ Land

œ Buildings

œ Plant and Equipment

œ Furniture and Fixtures

œ Vehicles

œ Office Equipment

œ Railway Sidings

œ Bridges roads ports culverts

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.59.03
UK Pound	1	Rs.98.91
Euro	1	Rs.80.33

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	RAS
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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		35

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.