MIRA INFORM REPORT

Report Date :

07.10.2014

IDENTIFICATION DETAILS

Name :	SIMTA MACHINERY PRIVATE LIMITED
Registered Office :	SF No. 683A, Railway Feeder Road, Ravathur Post, Coimbatore – 641103, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	07.01.2002
Com. Reg. No.:	18-010008
Capital Investment / Paid-up Capital :	Rs. 3.765 Millions
CIN No.: [Company Identification No.]	U02926TZ2002PTC010008
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Overhead Traveling Cleaner.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (41)

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

Maximum Credit Limit :	USD 49000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had illfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

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 DECLINED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-422-2680705)

LOCATIONS

Registered Office :	SF No. 683A, Railway Feeder Road, Ravathur Post, Coimbatore – 641103, Tamilnadu, India
Tel. No. :	91-422-2680705/ 2681705
Fax No. :	Not Available
E-Mail :	simtamachinery@gmail.com

DIRECTORS

As on 30.09.2013

Name :

Mr. Swaminathan Senthil Kumar

Designation :

Managing Director

Address :

53E-T. Nagar, Ramanathapuram, Coimbatore – 641045, Tamilnadu, India

Date of Birth/Age :

28.04.1966

Date of Appointment :

18.01.2002

DIN No. :

00022124

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	Company/ LLP Status	Defaulting status
1	U18101TZ2001PTC009770	CYBER TEXTILES (INDIA) PRIVATE LIMITED	Director	01-06-2001	01-06-2001	Active	NO
2	U02926TZ2002PTC010008	SIMTA MACHINERY PRIVATE LIMITED	Managing director	18-01-2002	18-01-2002	Active	NO
3	U29269TZ2006PTC012896	JACOBI MACHINERY PRIVATE LIMITED	Director	03-07-2006	03-07-2006	Active	NO
4	U29119TZ2006PTC013257	SIRA ENGINEERING PRIVATE LIMITED	Director	01-12-2006	01-12-2006	Active	NO

Name :

Mr. Arumugam Ranganathan

Designation :

Director

Address :

Fok, 1^st Block, Jains Cambrae East, Avinashi Road, Peelamedu, Coimbatore - 641004, Tamilnadu, India

Date of Birth/Age :

20.10.1966

Date of Appointment :

07.01.2002

DIN No. :

00022162

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	Company/ LLP Status	Defaulting status
1	U18101TZ2001PTC009770	CYBER TEXTILES (INDIA) PRIVATE LIMITED	Managing director	01-06-2001	01-06-2001	Active	NO
2	U02926TZ2002PTC010008	SIMTA MACHINERY PRIVATE LIMITED	Director	07-01-2002	07-01-2002	Active	NO
3	U29269TZ2006PTC012896	JACOBI MACHINERY PRIVATE LIMITED	Director	03-07-2006	03-07-2006	Active	NO
4	U29119TZ2006PTC013257	SIRA ENGINEERING PRIVATE LIMITED	Director	01-12-2006	01-12-2006	Active	NO
5	U29268TZ2006PTC012708	SIMTA CLEAR COATS PRIVATE LIMITED	Director	29-09-2010	01-09-2010	Active	NO

Name :

Mr. Duraisamy Sampathkumar

Designation :

Director

Address :

4/41, Railway Feeder Road, Muthugoundenpudur - Post, Sulur, Coimbatore - 641406, Tamilnadu, India

Date of Birth/Age :

04.05.1968

Date of Appointment :

07.01.2002

DIN No. :

00116569

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	Company/ LLP Status
1	U18101TZ2001PTC009770	CYBER TEXTILES (INDIA) PRIVATE LIMITED	Director	01-06-2001	01-06-2001	Active
2	U02926TZ2002PTC010008	SIMTA MACHINERY PRIVATE LIMITED	Director	07-01-2002	07-01-2002	Active
3	U29269TZ2006PTC012896	JACOBI MACHINERY PRIVATE LIMITED	Director	03-07-2006	03-07-2006	Active
4	U29119TZ2006PTC013257	SIRA ENGINEERING PRIVATE LIMITED	Director	01-12-2006	01-12-2006	Active

Name :

Mr. Periaswamy Parimala

Designation :

Director

Address :

491, G.V.Residency, Sowripalayam Post, Coimbatore - 641028, Tamilnadu, India

Date of Birth/Age :

08.06.1973

Date of Appointment :

07.01.2002

DIN No. :

02582003

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
S. Senthilkumar	3850
A. Ranganathan	9350
D. Sampathkumar	4600
P. Parimala	4600
C. Palaniswamy	1000
M. Karthikeyan	500
D. Dhanraj	2000
M. Sasikumar	500
M. Gopalan	1750
S. Valliammal	500
D. Thangaraj	500
R. Devaki	1750
R. Karunanidhi	500
Swamiyathaal	1000
M. Swaminathan	2250
S. Saradha	1250
V. Palanisamy	500
M. Varadaraj	750
S. Boopathy	500
Total	37650

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, Exporter and Supplier of Overhead Traveling Cleaner.

GENERAL INFORMATION

Suppliers :

· AB Associates

Abhi Brushing Tools

Aircel Limited

B Tex India

Bearing and Tools Syndicate

Caravel Logistics Private Limited

Elim Fabrikators

Harithaa Power Engineers

Intel Express Cargo Limited

Savira Gifts

No. of Employees :

Not Divulged

Bankers :

· Indian Bank, Coimbatore Main Branch, 31 Variety Hall Road, Coimbatore - 641001, Tamilnadu, India

Bank of India, R.N. Puram Branch, 1943, Trichy Road, Ramanathapuram, Coimbatore - 641045, Tamilnadu, India

· ICICI Bank Limited

· State Bank of India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Indian Bank (Secured by hypothecation of stock and equitable mortgage of land and building, machinery)	9.511	9.559
Indian Bank (F.B. Negotiate 6023694668)	0.623	0.000
Indian Bank (Packing Credit 6023692377)	2.293	0.000
Kotak Mahindra Prime Limited – Balero Van Loan	0.016	0.085
Kotak Mahindra Prime Limited – Car Loan	0.621	0.000
Total	13.064	9.644

Banking Relations :	--
Auditors :
Name :	A.S.Jayalakshmi and Associates Chartered Accountants
Address :	Krishna Vihar, No.1A ,4^th Street, Tatabad, Coimbatore – 641012, Tamilnadu, India
Income-tax PAN of auditor or auditor's firm :	AACFA3355Q
Group Companies :	· Simta Clear Coats Private Limited Simta Manufacturing Company Sira Engineering Private Limited Cyber Textiles (India) Private Limited

CAPITAL STRUCTURE

After 30.09.2013

Authorised Capital : Rs. 5.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 4.580 Millions

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
40000	Equity Shares	Rs.100/- each	Rs. 4.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
37650	Equity Shares	Rs.100/- each	Rs. 3.765 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	3.765	3.405	2.925
(b) Reserves & Surplus	8.517	6.588	6.830
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.090	0.480
Total Shareholders’ Funds (1) + (2)	12.282	10.083	10.235
(3) Non-Current Liabilities
(a) long-term borrowings	2.000	3.616	2.510
(b) Deferred tax liabilities (Net)	1.401	1.159	0.946
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	3.401	4.775	3.456
(4) Current Liabilities
(a) Short term borrowings	13.064	9.644	9.487
(b) Trade payables	25.294	15.015	20.766
(c) Other current liabilities	2.726	2.439	2.402
(d) Short-term provisions	0.000	0.056	0.000
Total Current Liabilities (4)	41.084	27.154	32.655
TOTAL	56.767	42.012	46.346
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	14.296	13.067	12.790
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	10.046	7.948	3.824
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	24.342	21.015	16.614
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	17.078	14.341	12.995
(c) Trade receivables	15.181	6.367	16.344
(d) Cash and cash equivalents	0.036	0.220	0.336
(e) Short-term loans and advances	0.130	0.069	0.057
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	32.425	20.997	29.732
TOTAL	56.767	42.012	46.346

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	88.907	79.976	109.360
		Other Income	2.881	1.745	0.620
		TOTAL (A)	91.788	81.721	109.980
Less	EXPENSES
		TOTAL (B)	86.471	78.821	98.198
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.317	2.900	11.782
Less	FINANCIAL EXPENSES (D)		2.257	2.144	1.361
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.060	0.756	10.421
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.889	0.729	0.646
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2.171	0.027	9.775
Less	TAX (H)		0.242	0.269	0.234
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		1.929	(0.242)	9.541
	EARNINGS IN FOREIGN CURRENCY		1.965	0.000	41.429
	Earnings / (Loss) Per Share (Rs.)		51.24	(7.11)	326.19

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.10	(0.30)	8.68
Net Profit Margin (PBT/Sales)	(%)	2.44	0.03	8.94
Return on Total Assets (PBT/Total Assets}	(%)	3.82	0.06	21.09
Return on Investment (ROI) (PBT/Networth)		0.18	0.00	0.96
Debt Equity Ratio (Total Debt/Networth)		1.23	1.32	1.17
Current Ratio (Current Asset/Current Liability)		0.79	0.77	0.91

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	2.925	3.405	3.765
Reserves & Surplus	6.830	6.588	8.517
Net worth	9.755	9.993	12.282
long-term borrowings	2.510	3.616	2.000
Short term borrowings	9.487	9.644	13.064
Total borrowings	11.997	13.260	15.064
Debt/Equity ratio	1.230	1.327	1.227

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	109.360	79.976	88.907
		(26.869)	11.167

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	109.360	79.976	88.907
Profit	9.541	(0.242)	1.929
	8.72%	(0.30%)	2.17%

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	Yes
17]	Major suppliers	Yes
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	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10352054	25/09/2013 *	22,220,000.00	INDIAN BANK	COIMBATORE MAIN BRANCH, 31 VARIETY HALL ROAD, COIMBATORE, TAMILNADU - 641001, INDIA	B87431748

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Sri Ravichandran	1.000	1.000
Prabha Ravichandran	1.000	1.000
Simta Manufacturing Co.	0.000	1.600
Kotak Mahindra Prime Limited – (Belero Van) Loan	0.000	0.016
Total	2.000	3.616

CHANGE OF ADDRESS

The registered office of the company has been shifted from 53E, T. Nagar, 4th Street, Ramanathapuram Post, Coimbatore – 641045, Tamilnadu, India to the present address w.e.f. 01.04.2013.

REVIEW OF OPERATIONS AND FUTURE PLANS

The sales and other income for the financial year were Rs. 91.788 Millions as against Rs. 81.721 Millions for the previous financial year registering an increase of Rs. 10.068 Millions. During the year the company has incurred net profit. The sales has increased compared to previous year. The board of directors is confident of better business growth in the year to come.

Sales and profitability will increase considerably in the ensuring year.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.75
UK Pound	1	Rs.100.07
Euro	1	Rs.77.95

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	DIV
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		41

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.