MIRA INFORM REPORT

Report Date :

31.10.2014

IDENTIFICATION DETAILS

Name :	YMP MACHINERIES LIMITED (w.e.f. 17.06.2014)
Formerly Known As :	YMP MACHINERIES PRIVATE LIMITED (w.e.f. 04.08.2008)
	CHAMPALAL AGRIMPEX PRIVATE LIMITED
Registered Office :	H. B. Jariwala House, 13 Navbharat Society, Opposite Panchsheel Bus Stop, Usmanpura, Ahmedabad – 380013, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	19.10.1995
Com. Reg. No.:	04-027910
Capital Investment / Paid-up Capital :	Rs. 1.444 Million
CIN No.: [Company Identification No.]	U01110GJ1995PLC027910
TAN No.: [Tax Deduction & Collection Account No.]	AHMC01599D
PAN No.: [Permanent Account No.]	AAACC7815N
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Plastic Bag, LDPE Granule.
No. of Employees :	Information declined by management.

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 30000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The company has taken huge external borrowing which acts as threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payments are reported to be 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 – 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 wilfully 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 DENIED

Management Non Co-Operative (Tel. No.: 91-79-27550764)

LOCATIONS

Registered Office :	H. B. Jirawala House, 13 Navbharat Society, Opposite Panchsheel Bus Stop, Usmanpura, Ahmedabad – 380013, Gujarat, India
Tel. No.:	91-79-27561000 / 27550764
Fax No.:	91-79-27551764
E-Mail :	info@champalalgroup.com
Website :	www.champalalgroup.com
Factory :	Gandhidham, Gujarat, India

DIRECTORS

As On 30.09.2013

Name :

Mr. Chetankumar Shantilal Parekh

Designation :

Director

Address :

Plot No. 183, Sector – 4, Gandhidham – 370201, Gujarat, India

Date of Birth/Age :

30.01.1982

Date of Appointment :

21.04.2004

DIN No.:

00159465

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	U01110GJ1995PLC027910	YMP MACHINERIES LIMITED	Director	21/04/2004	21/04/2004	-	Active	NO
2	U25200GJ2004PLC045239	OSWAL EXTRUSION LIMITED	Whole-time director	01/04/2010	27/01/2005	29/03/2014	Active	NO
3	U45201GJ2008PLC053258	PLASTENE INFRASTRUCTURE LIMITED	Director	14/03/2008	14/03/2008	11/01/2013	Active	NO
4	U25200GJ2009PLC058586	PLASTENE POLYFILMS LIMITED	Director	16/11/2009	16/11/2009	26/04/2010	Active	NO
5	U25200MP2010PTC023141	K. P. WOVEN PRIVATE LIMITED	Director	02/03/2010	02/03/2010	-	Active	NO
6	U25190GJ2011PLC063719	PLASTENE FLEXIBLES Limited	Director	19/01/2011	19/01/2011	29/03/2014	Active	NO
7	U25209GJ1998PLC034861	PLASTENE INDIA LIMITED	Additional director	10/06/2014	16/01/2013	-	Active	NO

Name :

Mr.Siddharth Shantilal Parekh

Designation :

Additional Director

Address :

Plot No. 183, Sector – 4, Gandhidham – 370201, Gujarat, India

Date of Birth/Age :

07.06.1984

Date of Appointment :

01.09.2013

DIN No.:

01688066

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	U25200GJ2004PLC045239	OSWAL EXTRUSION LIMITED	Whole-time director	01/04/2010	07/09/2007	-	Active	NO
2	U45201GJ2008PLC053258	PLASTENE INFRASTRUCTURE LIMITED	Director	14/03/2008	14/03/2008	15/12/2012	Active	NO
3	U25200GJ2009PLC058586	PLASTENE POLYFILMS LIMITED	Director	16/11/2009	16/11/2009	26/04/2010	Active	NO
4	U25200MP2010PTC023141	K. P. WOVEN PRIVATE LIMITED	Director	02/03/2010	02/03/2010	28/12/2013	Active	NO
5	U25190GJ2011PLC063719	PLASTENE FLEXIBLES Limited	Director	19/01/2011	19/01/2011	-	Active	NO
6	U01110GJ1995PLC027910	YMP MACHINERIES LIMITED	Director	30/09/2013	01/09/2013	29/03/2014	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	Ordinary Class Equity Shares	Class A Equity Shares with DVR
Champalal G Parekh	1000	--
Ashok Parekh	1000	--
Prakash H. Parekh	222600	9000
Kamaladevi Hiralal Jirawla	260000	--
Madhudevi H. Parekh	260000	8000
Chetan S. Parekh	207300	9000
Global Securities Limited	120000	--
Saran Chemical limited	26700	--
Siddharth Parekh	260000	8000
Vidhyadevi Parekh	--	11000
Hiralal Parekh	--	11000
Dhanpat Parekh	--	11000
Manisha Parekh	--	11000
Sushma Parekh	--	11000
Suman Parekh	--	11000
TOTAL (Ordinary Class Equity Shares + Class A Equity Shares with DVR)	1458600

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	10.06
Directors or relatives of Directors	85.28
Other top fifity shareholders	4.66
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Bag, LDPE Granule.

Products :

Item Code No. (ITC Code)	Product Description
39011000	LDPE Granule

GENERAL INFORMATION

No. of Employees :

Information declined by management.

Bankers :

• State Bank of Indore Plot No 273, Ward 12/B, Gandhidham Branch, Gandhidham - 370201, Gujarat, India
• State Bank of India, Law Garden Branch,, Nr. Law Garden, Ellisbridge, Ahmedabad - 380006, Gujarat, India
• The Bhuj Mercantile Co-Operative Bank Limited, Mithakhali Six Roads, Ahmedabad - 380006, Gujarat, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loan taken for Vehicles (Secured against hypothecation of Vehicles)	0.260	0.508
Total	0.260	0.508

Banking Relations :	--
Auditors :
Name :	Vinay Kumbhat and Associates Chartered Accountants
Address :	Ahmedabad, Gujarat, India
PAN No.:	ANHPK6541Q

CAPITAL STRUCTURE

As On 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs. 1/- each	Rs. 3.000 Millions
200000	Class A Equity Shares	Rs. 1/- each	Rs. 0.200 Million
	Total		Rs. 3.200 Millions

Issued, Subscribed :

No. of Shares	Type	Value	Amount
1358600	Ordinary Class Equity Shares	Rs. 1/- each	Rs. 1.359 Millions
100000	Class A Equity Shares	Rs. 1/- each	Rs. 0.100 Million
	Total		Rs. 1.459 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
1358600	Ordinary Class Equity Shares	Rs. 1/- each	Rs. 1.359 Millions
85000	Class A Equity Shares	Rs. 1/- each	Rs. 0.085 Million
	Total		Rs. 1.444 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	1.444	1.359	1.359
(b) Reserves & Surplus	10.590	10.227	8.865
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	12.034	11.586	10.224
(3) Non-Current Liabilities
(a) long-term borrowings	82.474	51.035	34.700
(b) Deferred tax liabilities (Net)	0.000	0.000	0.396
(c) Other long term liabilities	0.885	0.930	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	83.359	51.965	35.096
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	0.257	74.571	3.640
(c) Other current liabilities	232.701	36.650	55.444
(d) Short-term provisions	0.429	0.369	0.019
Total Current Liabilities (4)	233.387	111.590	59.103
TOTAL	328.780	175.141	104.423
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	13.541	12.694	17.983
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	7.702	3.242	1.453
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	71.997	70.885	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.046	0.041	1.886
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	93.286	86.862	21.322
(2) Current assets
(a) Current investments	0.000	0.000	70.877
(b) Inventories	16.044	4.363	1.665
(c) Trade receivables	213.767	67.206	6.317
(d) Cash and cash equivalents	0.527	0.641	1.930
(e) Short-term loans and advances	5.156	16.069	2.312
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	235.494	88.279	83.101
TOTAL	328.780	175.141	104.423

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1011.687	481.557	245.371
		Other Income	NA	10.166	14.334
		TOTAL	NA	491.723	259.705
Less	EXPENSES
		Cost of Materials Consumed		479.175	230.135
		Increases / (Decrease) in inventories of finished goods, work-in-progress and Stock-in-Trade		-3.743	14.387
		Employees benefits expense		1.452	2.332
		Other expenses		12.459	11.719
		TOTAL	NA	489.343	258.573
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION			2.380	1.132
Less	FINANCIAL EXPENSES			0.092	0.782
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.927	2.288	0.350
Less/ Add	DEPRECIATION/ AMORTISATION		0.607	0.355	0.251
	PROFIT/ (LOSS) BEFORE TAX		0.320	1.933	0.099
Less	TAX		(0.042)	0.568	0.368
	PROFIT/ (LOSS) AFTER TAX		0.362	1.365	(0.269)
Less	INCOME TAX OF EARLIER YEARS		NA	0.004	0.000
Less	PRIOR PERIOD ADJUSTMENTS		NA	0.000	0.006
Add	BALANCE AS PER LAST YEAR		NA	(2.062)	(1.787)
	Earnings / (Loss) Per Share (Rs.)		0.25	1.00	(0.20)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	0.28	-0.10
Net Profit Margin (PBT/Sales)	(%)	0.03	0.40	0.04
Return on Total Assets (PBT/Total Assets}	(%)	0.13	1.91	0.10
Return on Investment (ROI) (PBT/Networth)		0.03	0.17	0.01
Debt Equity Ratio (Total Liability/Networth)		6.85	4.40	3.39
Current Ratio (Current Asset/Current Liability)		1.01	0.79	1.41

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	1.359	1.359	1.444
Reserves & Surplus	8.865	10.227	10.590
Net worth	10.224	11.586	12.034
long-term borrowings	34.700	51.035	82.474
Short term borrowings	0.000	0.000	0.000
Total borrowings	34.700	51.035	82.474
Debt/Equity ratio	3.394	4.405	6.853

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	245.371	481.557	1011.687
		96.257	110.087

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	245.371	481.557	1011.687
Profit	-0.269	1.365	0.362
	-0.11%	0.28%	0.04%

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	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10487025	25/03/2014	70,000,000.00	State Bank of India	LAW GARDEN BRANCH,, NR. LAW GARDEN, ELLISBRIDGE,,  AHMEDABAD, Gujarat - 380006, INDIA	C01186816
2	10417487	12/03/2013	50,000,000.00	STATE BANK OF INDIA	LAW GARDEN BRANCH, LAW GARDEN, AHMEDABAD, Gujarat  - 380006, INDIA	B72501695
3	10257227	11/04/2014 *	325,000,000.00	STATE BANK OF HYDERABAD	GROUND FLOOR, ASHRAM ROAD BRANCH, NAGIN DAS CHAMB  ERS, USMANPURA, AHMEDABAD, Gujarat - 380014, INDIA	C04136834
4	10194377	18/01/2012 *	1,115,000,000.00	STATE BANK OF INDIA	LAW GARDEN BRANCH,, NR. LAW GARDEN, ELLISBRIDGE,  AHMEDABAD, Gujarat - 380006, INDIA	B31530405

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Other loans and advances	82.214	50.527
Total	82.214	50.527

FIXED ASSETS

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipment

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] 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. 61.46
UK Pound	1	Rs. 98.21
Euro	1	Rs. 77.45

INFORMATION DETAILS

Information Gathered by :	HET
Analysis Done by :	KAR
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		28

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.