MIRA INFORM REPORT

Report No. :	318235
Report Date :	25.04.2015

IDENTIFICATION DETAILS

Name :	HMSU ROLLERS (INDIA) PRIVATE LIMITED
Registered Office :	778/6, Pramukh Industrial Estate, Sola Santej Road, Village Rakanpur, Taluka Kalol, Gandhinagar - - 382721, Gujarat
Tel No. :	912464-286323
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.02.2012
Com. Reg. No.:	04-068828
Capital Investment / Paid-up Capital :	Rs. 124.890 Million
CIN No.: [Company Identification No.]	U29130GJ2012PTC068828
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCH8350B
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is engaged in the production of Rubber and PU Rollers, which is using for steel industries, textile industries, laminating industries, printing and packaging industries, etc.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	The subject is an established company having a moderate track record. The company has incurred consecutive losses which has deteriorated the position of net worth. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with 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 – 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 BY

Name :	Mr. Bhupendra Patel
Designation :	Manager Account
Contact No.:	91-8980001321
Date :	23.04.2015

LOCATIONS

Registered Office :	778/6, Pramukh Industrial Estate, Sola Santej Road, Village Rakanpur, Taluka Kalol, Gandhinagar - - 382721, Gujarat, India
Tel. No.:	91-2464-286323/286324
Fax No.:	91-2764-286335
E-Mail :	purvipatel@shilpgravures.com riteshpatel@hmsurollers.com
Website :	www.hmsurollers.com
Factory :	Block No. 4 (Paiki) 8, Vireshwar Estate, Before SKF Factory, Village Kerla, MH 8A Bavla Bagodara Road, Taluka Babla, Ahmedabad – 382220, Gujarat, India

DIRECTORS

As on 05.09.2014

Name :

Mr. Kamal Satyanarayan Prasad Prakash

Designation :

Director

Address :

30, J.L. Nehru Road, Fl - 23, Bl – D, Kolkata - 700 016, West Bengal, India

Date of Birth/Age :

15.04.1957

Date of Appointment :

01.02.2012

DIN No.:

00700589

PAN No.:

AETPP6309J

Voter ID No.:

WB/23/149/162209

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at currentdesignation	Original date of appointment	Date ofcessation	Company/ LLP Status	Defaulting status
1	U51109WB1989PTC047657	JIWANRAM SHEODUTTRAI PVT LTD	Director	28/09/1989	28/09/1989	-	Active	NO
2	U27203WB2001PTC093128	UNI-EAST ENERGY PRIVATE LIMITED	Director	19/04/2001	19/04/2001	-	Active	NO
3	U74899WB1989PTC175152	ASSOCIATED INDUSTRIAL FURNACES PRIVATE LTD	Director	11/02/2003	11/02/2003	-	Active	NO
4	U33130MH2005PTC151830	Ducon Technologies (I) Private Limited	Director	07/03/2005	07/03/2005	25/09/2012	Active	NO
5	U17299WB2005PTC102342	JS CREATIONS PRIVATE LIMITED	Director	18/03/2005	18/03/2005	02/07/2014	Active	NO
6	U29230WB2005PTC106722	UNIMARK METALLURGICAL PVT LTD	Director	16/12/2005	16/12/2005	-	Active	NO
7	L26939OR1977PLC000735	NILACHAL REFRACTORIES LIMITED	Director	19/12/2005	19/12/2005	30/03/2013	Active	NO
8	U24114WB1996PTC081975	UNIMARK INTERNATIONAL PRIVATE LIMITED	Director	27/02/2006	27/02/2006	-	Active	NO
9	U70101WB1991PTC051885	MINICRAFT ENTERPRISE PVT LTD	Director	27/02/2006	27/02/2006	-	Active	NO
10	U70101WB2006PTC110334	JS PROCON PRIVATE LIMITED	Director	03/07/2006	03/07/2006	-	Active	NO
11	U29219WB2007PTC116088	UNISEVEN ENGINEERING & INFRASTRUCTURE PRIVATE LIMITED	Director	25/05/2007	25/05/2007	-	Active	NO
12	U29142WB2005PTC106723	SARRALLE EQUIPMENT INDIA PRIVATE LIMITED	Director	28/09/2007	21/07/2007	-	Active	NO
13	U51432OR2008PLC009915	NRL CLAYBURN LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
14	U52100WB2009PTC132315	JIWAN+PIP SAFETY PRIVATE LIMITED	Director	30/01/2009	30/01/2009	30/03/2013	Active	NO
15	U29268MH2009PTC190689	MACCHI India Private Limited	Director	04/03/2009	04/03/2009	-	Active	NO
16	U52390WB2010PTC145841	STAR CARBON TRADE PRIVATE LIMITED	Director	22/04/2010	22/04/2010	-	Active	NO
17	U26960WB2010PTC151619	BEROA- UNISEVEN REFRACTORY SERVICES PRIVATE LIMITED	Director	26/07/2010	26/07/2010	-	Active	NO
18	U41000WB2011PTC161529	HIDRO-UNI WATER SOLUTIONS PRIVATE LIMITED	Director	06/04/2011	06/04/2011	-	Active	NO
19	U29130GJ2012PTC068828	HMSU ROLLERS (INDIA) PRIVATE LIMITED	Director	01/02/2012	01/02/2012	-	Active	NO
20	U29120WB1993PTC060588	STATIC HYDRAULIC PVT LTD	Director	26/04/2013	26/04/2013	-	Active	NO
21	AAC-4223	UNISEVEN LUBE LLP	Body corporate as Designated Partner	01/07/2014	01/07/2014	-	Active	NO

Name :

Mr. Gerg Maria Leo Franz Heinen

Designation :

Director

Address :

Bismarckstrabe 3, Erkrath - 40699, Germany

Date of Birth/Age :

01.08.1962

Date of Appointment :

01.02.2012

DIN No.:

03562974

Passport No.:

C70ZR1FLJ

Name :

Mr. Wilhelm Johann Helmut Weber

Designation :

Director

Address :

Vossheider Str 272 A, Goch – 47574, Germany

Date of Birth/Age :

28.01.1968

Date of Appointment :

01.02.2012

DIN No.:

03563008

Passport No.:

511516664

Name :

Mr. Gunthram Germain Denis Freddy Cornelis

Designation :

Director

Address :

Cyriel Buyssestraat (Mar) 3, Kortrijk – 8510, Belgium

Date of Birth/Age :

26.06.1968

Date of Appointment :

01.02.2012

DIN No.:

03566425

Passport No.:

EI566750

Name :

Mr. Paul Lucien Robert Andre

Designation :

Director

Address :

Philippe De Denterghemlaan 42, Deurle - 9831, Belgium

Date of Birth/Age :

18.09.1950

Date of Appointment :

01.02.2012

DIN No.:

03566433

Passport No.:

EH204598

Name :

Mr. Siddharth Narendra Patil

Designation :

Director

Address :

4 Amarkunj Society, Gordhanwadi Tekra, Kankaria, Ahmedabad – 380028, Gujarat

Date of Birth/Age :

26.04.1985

Date of Appointment :

19.09.2013

DIN No.:

06700651

Passport No.:

K5760475

Other Directorship :

KEY EXECUTIVES

Name :	Mr. Bhupendra Patel
Designation :	Manager Account

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 05.09.2014

Names of Shareholders	No. of Shares
Shilp Gravures Limited, India	2997800
Unimark International Private Limited, India	2997800
Mitex Gummifabrik Hans Knott GHBH Germany	4496700
Hannecard N.V., Belgium	4496700
Total	14989000

As on 05.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	60.00
Bodies corporate	40.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the production of Rubber and PU Rollers, which is using for steel industries, textile industries, laminating industries, printing and packaging industries, etc.

Products :

Product Description	Item Code No. (ITC Code)
Rubber Roller	4017

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

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 :

Not Divulged

Bankers :

• Axis Bank Limited, Corporate Banking Branch, 3^rd Eye One, 2^nd Floor, Near Panchvati Circle, C. G. Road, Ahmedabad – 380009, Gujarat, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Loan and advances from related parties	57.704	59.689
Rupee term loan from banks	84.017	77.036
SHORT TERM BORROWING
Loans repayable on demand	7.351	0.000
Total	149.072	136.725

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	"Heritage", 3rd Floor, Nr. Gujarat Vidyapith, Off Ashram Road, Ahmedabad - 380 014, Gujarat, India
PAN No.:	AABFD7919A
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 :	Hannecard N.V., Belgium Mitex GMBH, Germany Shilp Gravures Limited, India Un Ima R K International Private Limited H&M Rollers Technologies (PTY) Limited, SOUTH AFRICA Gomplast S.A., South Africa Unimark Metallurgical Private Limited, India Hannecard and Mitex Italia SRL, Italy

CAPITAL STRUCTURE

As on 05.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Shares	Rs.10/- each	Rs. 150.000 Million
3,750,000	Preference Shares	Rs.10/- each	Rs. 37.500 Million
	Total		Rs. 187.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14,989,000	Equity Shares	Rs.10/- each	Rs. 149.890 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,25,00,000	Equity Shares	Rs.10/- each	Rs. 125.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,24,89,000	Equity Shares	Rs.10/- each	Rs. 124.890 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	124.890	50.000
(b) Reserves & Surplus	(72.710)	(1.738)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	52.180	48.262
(3) Non-Current Liabilities
(a) long-term borrowings	141.721	136.725
(b) Deferred tax liabilities (Net)	8.347	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	150.068	136.725
(4) Current Liabilities
(a) Short term borrowings	7.351	0.000
(b) Trade payables	18.021	10.815
(c) Other current liabilities	22.577	19.385
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	47.949	30.200
TOTAL	250.197	215.187
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets
(ii) Intangible Assets	186.728	34.700
(iii) Capital work-in-progress	0.000	0.000
(iv) Intangible assets under development	0.000	142.445
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.460
(e) Other Non-current assets	3.770	3.878
Total Non-Current Assets	190.498	181.483
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	22.149	11.199
(c) Trade receivables	13.689	0.000
(d) Cash and cash equivalents	3.361	6.814
(e) Short-term loans and advances	19.997	15.273
(f) Other current assets	0.503	0.418
Total Current Assets	59.699	33.704
TOTAL	250.197	215.187

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	TOTAL REVENUE	21.174	0.236
Less	EXPENSES
	TOTAL	NA	NA
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	(37.794)	(1.371)
Less	FINANCIAL EXPENSES	18.738	0.116
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(56.532)	(1.487)
Less/ Add	DEPRECIATION/ AMORTISATION	6.093	0.000
	PROFIT/ (LOSS) BEFORE TAX	(62.625)	(1.487)
Less	TAX	8.347	0.252
	PROFIT/ (LOSS) AFTER TAX	(70.972)	(1.739)
	Earnings / (Loss) Per Share (Rs.)	(4.73)	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	(335.18)	(736.86)
Operating Profit Margin (PBDIT / Sales)	(%)	(178.49)	(580.93)
Return on Total Assets (PBT/Total Assets}	(%)	(25.03)	(2.04)
Return on Investment (ROI) (PBT/Networth)		(1.20)	(0.03)
Debt Equity Ratio (Total Debt /Networth)		2.86	2.83
Current Ratio (Current Asset/Current Liability)		1.25	1.12

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	50.000	124.890
Reserves & Surplus	(1.738)	(72.710)
Net worth	48.262	52.180
long-term borrowings	136.725	141.721
Short term borrowings	0.000	7.351
Total borrowings	136.725	149.072
Debt/Equity ratio	2.833	2.857

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Revenue	0.236	21.174
		8,872.034

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Total Revenue	0.236	21.174
Profit	(1.739)	(70.972)
	(736.86%)	(335.18%)

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

BACKGROUND OF THE COMPANY

Subject is a private limited company, incorporated on 1st February, 2012 under the provisions of the Companies

Act, 1956. The Company is engaged in the production of Rubber and PU Rollers, which is using for steel industries, textile industries, laminating industries, printing and packaging industries, etc.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10382578	17/10/2012 *	119,000,000.00	AXIS BANK LIMITED	CORPORATE BANKING BRANCH,3RD EYE ONE,, IInd FLOOR, NR. PANCHWATI CIRCLE, C.G.ROAD, AHMEDABAD, Gujarat - 380009, INDIA	B61541132

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles

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.63.18
UK Pound	1	Rs.94.94
Euro	1	Rs.67.66

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	SUC
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.