MIRA
INFORM REPORT
|
Report No. : |
335170 |
|
Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEVENSEAS GLOBAL EXPRESS
LOGISTICS PRIVATE LIMITED (w.e.f. 09.04.2011) |
|
|
|
|
Formerly Known
As : |
ONTIME SEVEN SEAS
LOGISTICS PRIVATE LIMITED (w.e.f. 29.05.2007) ONTIME WORLDWIDE
LOGISTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Shivas", 3rd
Floor, 39/4, Outer Ring Road, Doddanekkundi, Marthahalli, |
|
Tel. No.: |
91-80-42694000 |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.09.2005 |
|
|
|
|
Com. Reg. No.: |
08-037293 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.341
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090KA2005PTC037293 |
|
|
|
|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject
is engaged in the business of Global Freight Forwarding and Logistics. |
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|
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|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. The company possesses an acceptable financial profile marked by modest networth base. However, General financial position of the company seems to be decent. The rating takes into consideration promoter's extensive experience in the freight forwarding, logistics business and established relationships with major customers. Trade relation seems to be fair. Business is active. Payment terms are reported as slow but correct. In view of expertise and experienced management the subject can be considered 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
CRISIL |
|
Rating |
Long term rating: BB+ |
|
Rating Explanation |
Have inadequate credit quality and high credit risk |
|
Date |
30.10.2014 |
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
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Mr. Joshi |
|
Designation : |
Account Manager |
|
Contact No.: |
91-80-42694000 |
|
Date : |
05.08.2015 |
LOCATIONS
|
Registered Office : |
"Shivas", 3rd
Floor, 39/4, Outer Ring Road, Doddanekkundi, Marthahalli, Bangalore – 560
037, Karnataka, India |
|
Tel. No.: |
91-80-42694000 |
|
Fax No.: |
91-80-42694029 |
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E-Mail : |
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|
Website : |
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Branch Office : |
Located at: ·
Bangalore
·
Chennai ·
Mumbai
·
New
Delhi ·
Tuticorin ·
Cochin ·
Coimbatore ·
Tirupur ·
Karur ·
Hyderabad ·
Vizag ·
Pune ·
Ludhiana ·
Kolkata ·
Nagpur ·
Panipat |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Biju Thomas |
|
Designation : |
Managing Director |
|
Address : |
112, Poova Park, Ridge Gosala Road, Garudacharapalaya Mahadevapura,
Bangalore – 560 048, Karnataka, India |
|
Date of Birth/Age : |
13.05.1970 |
|
Date of Appointment : |
31.08.2007 |
|
DIN No.: |
01672743 |
|
|
|
|
Name : |
Sherly Biju |
|
Designation : |
Director |
|
Address : |
101, Saisadan, 2nd Cross, Pai Layout, Old Madras Road,
Bangalore - 560016, Karnataka, India |
|
Date of Birth/Age : |
16.05.1969 |
|
Date of Appointment : |
31.08.2007 |
|
DIN No.: |
01672788 |
|
|
|
|
Name : |
Tossy Joseph |
|
Designation : |
Director |
|
Address : |
# 304, Sri Lorven Homes, 21st Cross, II A Main,
Vignannagar, Bangalore - 560075, Karnataka, India |
|
Date of Birth/Age : |
05.05.1973 |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
03141351 |
KEY EXECUTIVES
|
Name : |
Mr. Joshi |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Biju Thomas |
2408476 |
91.43 |
|
Sherly Biju |
190650 |
7.24 |
|
Tossy Joseph |
30000 |
1.14 |
|
Arunkumar C.R. |
5000 |
0.19 |
|
Total
|
2634126 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of Global Freight Forwarding and Logistics. |
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Products/ Services : |
·
Air Freight ·
Ocean Freight ·
Door to Door ·
Multimodal Transport ·
Custom Clearance ·
Warehousing and Transport ·
Metro Express |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
(Rs.
In Million)
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|
Auditors : |
|
|
Name : |
Venu and Venugopal Chartered Accountant |
|
Address : |
2nd Floor, HVS Corner,1 A Lakshmi Road, Shanthi Nagar, Bangalore, Karnataka, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAJPV2241D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2634126 |
Equity Shares |
Rs.10/- each |
Rs. 26.341
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 |
26.341 |
26.341 |
26.341 |
|
(b) Reserves & Surplus |
42.592 |
28.343 |
19.900 |
|
(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) |
68.933 |
54.684 |
46.241 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12.357 |
13.009 |
18.831 |
|
(b) Deferred tax liabilities
(Net) |
0.324 |
0.535 |
0.728 |
|
(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) |
12.681 |
13.544 |
19.559 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
70.250 |
78.443 |
59.219 |
|
(b) Trade payables |
83.723 |
61.325 |
56.273 |
|
(c) Other current liabilities |
11.790 |
4.506 |
7.358 |
|
(d) Short-term provisions |
9.586 |
9.222 |
0.000 |
|
Total
Current Liabilities (4) |
175.349 |
153.496 |
122.850 |
|
|
|
|
|
|
TOTAL |
256.963 |
221.724 |
188.650 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
22.081 |
14.318 |
12.361 |
|
(ii) Intangible Assets |
4.892 |
5.799 |
6.704 |
|
(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 |
8.597 |
7.839 |
7.592 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
35.570 |
27.956 |
26.657 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
183.040 |
158.398 |
127.712 |
|
(d) Cash and cash equivalents |
11.736 |
10.635 |
5.408 |
|
(e) Short-term loans and
advances |
24.839 |
22.661 |
26.502 |
|
(f) Other current assets |
1.778 |
2.074 |
2.371 |
|
Total
Current Assets |
221.393 |
193.768 |
161.993 |
|
|
|
|
|
|
TOTAL |
256.963 |
221.724 |
188.650 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
GROSS TURNOVER |
1061.128 |
918.881 |
785.307 |
|
|
|
|
|
|
|
|
EXPENSES |
1019.086 |
906.104 |
755.219 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
42.042 |
32.690 |
30.088 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
14.801 |
14.569 |
10.403 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
27.241 |
18.121 |
19.685 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
6.567 |
5.344 |
3.671 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
20.674 |
12.777 |
16.014 |
|
|
|
|
|
|
|
|
TAX |
6.425 |
4.334 |
5.415 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
14.249 |
8.443 |
10.599 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
181.439 |
129.812 |
110.626 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
5.41 |
3.21 |
4.02 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.05 |
5.76 |
8.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.23 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.20 |
1.67 |
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.26 |
1.32 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
26.341 |
26.341 |
26.341 |
|
Reserves & Surplus |
19.900 |
28.343 |
42.592 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
46.241 |
54.684 |
68.933 |
|
|
|
|
|
|
long-term borrowings |
18.831 |
13.009 |
12.357 |
|
Short term borrowings |
59.219 |
78.443 |
70.250 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
78.050 |
91.452 |
82.607 |
|
Debt/Equity
ratio |
1.688 |
1.672 |
1.198 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Turnover |
785.307 |
918.881 |
1061.128 |
|
|
|
17.009 |
15.480 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Turnover |
785.307 |
918.881 |
1061.128 |
|
Profit |
10.599 |
8.443 |
14.249 |
|
|
1.35% |
0.92% |
1.34% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
NOTE: Registered office of the company has been
shifted from II Floor, HVS Corner, 1-A, Lakshmi Road, Shanthingar, Bangalore –
560027, Karnataka, India to the present
address w.e.f. 15.04.2008
CORPORATE
INFORMATION:
The Company is engaged in
the business of Global Freight Forwarding and Logistics. The Company was
incorporated on the 22nd day of September 2005.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10211039 |
03/12/2014 * |
100,000,000.00 |
BANK OF BARODA |
MARATHAHALLI BRANCH, #2, ARAVIND AVENUE, KUNDALAH |
C37135662 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Goodwill
· Computer software
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] 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.63.93 |
|
UK Pound |
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.