MIRA INFORM REPORT

Report No. :	316173
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	KAPOOR INDUSTRIES LIMITED
Registered Office :	29A-2/1, Desu Road, Mehrauli, New Delhi – 110030
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	05.03.2012
Com. Reg. No.:	55-232414
Capital Investment / Paid-up Capital :	Rs. 200.682 Million
CIN No.: [Company Identification No.]	U17210DL2012PLC232414
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of terry textiles products.
No. of Employees :	1500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 1000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by adequate liquditiy position and decent profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long Term Fund Based = A
Rating Explanation	Adequate degree of safety and low credit risk.
Date	December 2014

Rating Agency Name	ICRA
Rating	Short Term Fund Based = A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	December 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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Mukesh Kumar
Designation :	Deputy General Manager
Contact No.:	91-11-26643639
Date :	01.04.2015

LOCATIONS

Registered Office :	29A-2/1, Desu Road, Mehrauli, New Delhi – 110030, India
Tel. No.:	91-11-26643639/26641198
Mobile No.:	91-9650755454 (Mr. Mukesh Kumar)
Fax No.:	91-11-26642449
E-Mail :	info@kapoorindustries.com
Factory 1 :	12^th Milestone, G T Road, Village Mehrauli, Samalkha District, Panipat – 132103, Haryana, India
Factory 2 :	29 Sector, Panipat, Haryana, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Mohit Kapoor

Designation :

Whole Time Director

Address :

A-1/305, Safdarjung Enclave, New Delhi – 110029, India

Date of Birth/Age :

06.02.1973

Date of Appointment :

06.03.2012

DIN No.:

00687339

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	U74899DL1991PTC044075	KAPOOR INDUSTRIES PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
2	U17120DL2008PTC183959	GLOBAL COTON PRIVATE LIMITED	Director	06/10/2008	06/10/2008	-	Active	NO
3	U17210DL2012PLC232414	KAPOOR INDUSTRIES LIMITED	Whole-time director	06/03/2012	05/03/2012	-	Active	NO

Name :

Mr. Praveen Kumar Kapoor

Designation :

Managing Director

Address :

A-1/305, Safdarjung Enclave, New Delhi – 110029, India

Date of Birth/Age :

23.05.1942

Date of Appointment :

06.03.2012

DIN No.:

02055500

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	U74899DL1991PTC044075	KAPOOR INDUSTRIES PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
2	U17120DL2008PTC183959	GLOBAL COTON PRIVATE LIMITED	Director	13/01/2009	07/10/2008	-	Active	NO
3	U17210DL2012PLC232414	KAPOOR INDUSTRIES LIMITED	Managing director	06/03/2012	05/03/2012	-	Active	NO

Name :

Mr. Ashish Kapoor

Designation :

Whole Time Director

Address :

A-1/305, Safdarjung Enclave, New Delhi – 110029, India

Date of Birth/Age :

01.06.1969

Date of Appointment :

06.03.2012

DIN No.:

02055519

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	U74899DL1991PTC044075	KAPOOR INDUSTRIES PRIVATE LIMITED	Director	25/04/1991	25/04/1991	-	Active	NO
2	U17120DL2008PTC183959	GLOBAL COTON PRIVATE LIMITED	Managing director	13/01/2009	07/10/2008	-	Active	NO
3	U17210DL2012PLC232414	KAPOOR INDUSTRIES LIMITED.	Whole-time director	06/03/2012	05/03/2012	-	Active	NO

Name :

Mrs. Kamlesh Kapoor

Designation :

Whole Time Director

Address :

A-1/305, Safdarjung Enclave, New Delhi – 110029, India

Date of Birth/Age :

02.08.1947

Date of Appointment :

05.03.2012

PAN No.:

00687143

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	U74899DL1991PTC044075	KAPOOR INDUSTRIES PRIVATE LIMITED	Director	15/05/1991	15/05/1991	-	Active	NO
2	U17120DL2008PTC183959	GLOBAL COTON PRIVATE LIMITED	Director	06/10/2008	06/10/2008	03/11/2008	Active	NO
3	U17210DL2012PLC232414	KAPOOR INDUSTRIES LIMITED.	Whole-time director	05/03/2012	05/03/2012	-	Active	NO

Name :

Mrs. Aparna Kapoor

Designation :

Director

Address :

A-1/305, Safdarjung Enclave, New Delhi – 110029, India

Date of Birth/Age :

01.03.1971

Date of Appointment :

24.12.2012

PAN No.:

06416711

Name :

Mrs. Radhika Kapoor

Designation :

Director

Address :

A-1/305, Safdarjung Enclave, New Delhi – 110029, India

Date of Birth/Age :

23.07.1973

Date of Appointment :

24.12.2012

DIN No.:

06416746

Name :

Mr. Anil Khanna

Designation :

Whole Time Director

Address :

B-1/305, Safdarjung Enclave, New Delhi – 110029, India

Date of Birth/Age :

29.10.1949

Date of Appointment :

01.05.2012

DIN No.:

05282637

KEY EXECUTIVES

Name :	Mr. Mukesh Kumar
Designation :	Deputy General Manager
Name :	Ms. Deepika Lodhi
Designation :	Secretary
Address :	H. No. – 595 – C, Devli, New Delhi – 110062, India
Date of Birth/Age :	21.05.1990
Date of Appointment :	01.08.2013

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Mr. Mohit Kapoor	375980
Mr. Praveen Kumar Kapoor	1032131
Mrs. Ashish Kapoor	342327
Mrs. Kamlesh Kapoor	252187
Mrs. Aparna Kapoor	1476
Mrs. Radhika Kapoor	1476
Mrs. Arohi Kapoor	1238
Total	2006815

AS ON 30.09.2014

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 of terry textiles products.
Products :	Toiletry towel Bath mats Toiletry kitchen towel Bath rugs Hand towel Door mats Capets Printed towels
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Finished Goods
Countries :	USA UK Australia South Africa Gulf Countries Europe
Imports :
Products :	Raw Material
Countries :	Belgium Italy Germany Japan
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

1500 (Approximately)

Bankers :

Dena Bank, 25 Gopala Tower, Rajendra Place, New Delhi – 110008, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Term loan from banks	257.144	156.572
SHORT TERM BORROWINGS
Rupee term loans from banks	358.231	254.841
Total	615.375	411.413

Auditors :
Name :	S. Lalland and Company Chartered Accountants
Address :	C-3/19, Rana Partap Bagh, Delhi – 110097, India
PAN No.:	AAAAA1234A
Memberships :	Not Available
Collaborators :	Not Available
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Global Coton Private Limited Kapoor Industries Private Limited

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs. 100/- each	Rs. 250.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2006815	Equity Shares	Rs. 100/- each	Rs. 200.682 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	200.682	200.682	200.300
(b) Reserves & Surplus	342.392	154.441	7.335
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.382
Total Shareholders’ Funds (1) + (2)	543.074	355.123	208.017
(3) Non-Current Liabilities
(a) long-term borrowings	557.144	456.808	469.733
(b) Deferred tax liabilities (Net)	32.549	13.295	1.550
(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)	589.693	470.103	471.283
(4) Current Liabilities
(a) Short term borrowings	358.231	254.841	186.377
(b) Trade payables	364.663	234.471	158.622
(c) Other current liabilities	83.512	76.715	126.146
(d) Short-term provisions	10.159	8.152	3.420
Total Current Liabilities (4)	816.565	574.179	474.565
TOTAL	1949.332	1399.405	1153.865
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	852.350	643.530	594.713
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	17.142	0.763	4.810
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.378	0.350	0.324
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	93.970	12.574	14.044
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	963.840	657.217	613.891
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	278.738	178.245	219.891
(c) Trade receivables	391.810	271.016	228.039
(d) Cash and cash equivalents	10.237	108.162	10.966
(e) Short-term loans and advances	304.707	184.765	81.078
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	985.492	742.188	539.974
TOTAL	1949.332	1399.405	1153.865

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2953.411	2443.963	188.459
		Other Income	332.678	264.355	0.320
		TOTAL (A)	3286.089	2708.318	188.779
Less	EXPENSES
		Cost of Materials Consumed	2188.682	1730.168	97.912
		Expenditure on production, transportation and other expenditure pertaining to E and P activities	4.009	1.310	3.788
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	79.184	34.824	33.344
		Employees benefits expense	120.216	94.507	5.197
		Other expenses	435.297	481.310	25.783
		TOTAL (B)	2827.388	2342.119	166.024
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		458.701	366.199	22.755
Less	FINANCIAL EXPENSES (D)		85.571	69.864	6.223
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		373.130	296.335	16.532
Less/ Add	DEPRECIATION/ AMORTISATION (F)		69.772	60.262	5.269
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		303.358	236.073	11.263
Less	TAX (H)		115.408	88.967	3.928
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		187.950	147.106	7.335
	Earnings / (Loss) Per Share (Rs.)		93.66	73.30	3.66

Expected Sales (2014-15) : Rs. 4000.000 Million

The above information has been parted by Mr. Mukesh Kumar (Deputy General Manager)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin PAT / Sales	(%)	6.36	6.02	3.89
Operating Profit Margin (PBDIT/Sales)	(%)	15.53	14.98	12.07
Return on Total Assets (PBT/Total Assets}	(%)	15.70	16.88	0.98
Return on Investment (ROI) (PBT/Networth)		0.56	0.66	0.05
Debt Equity Ratio (Total Debts/Networth)		1.69	2.00	3.15
Current Ratio (Current Asset/Current Liability)		1.21	1.29	1.14

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	200.300	200.682	200.682
Reserves & Surplus	7.335	154.441	342.392
Share Application money pending allotment	0.382	0.000	0.000
Net worth	208.017	355.123	543.074
long-term borrowings	469.733	456.808	557.144
Short term borrowings	186.377	254.841	358.231
Total borrowings	656.110	711.649	915.375
Debt/Equity ratio	3.154	2.004	1.686

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	188.459	2443.963	2953.411
		1,196.814	20.845

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	188.459	2443.963	2953.411
Profit	7.335	147.106	187.950
	3.89%	6.02%	6.36%

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last around two years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	------
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10357264	20/09/2014 *	1,041,500,000.00	DENA BANK	25 GOPALA TOWER, 1st Floor, RAJENDRA PLACE, NEW DELHI, Delhi - 110008, INDIA	C29478310

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
Loans and advances from related parties	300.000	300.236
Total	300.000	300.236

FIXED ASSETS

• Land
• Buildings
• Factory Equipments
• Furniture and Fixture
• Vehicles
• Office Equipments
• Computer

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. 62.33
UK Pound	1	Rs. 92.53
Euro	1	Rs. 67.60

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		64

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.