HNNMIRA INFORM REPORT
|
Report No. : |
336107 |
|
Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDAGRO FOODS PRIVATE LIMITED (w.e.f. 31.10.2014) |
|
|
|
|
Formerly Known As
: |
INDAGRO FOODS LIMITED |
|
|
|
|
Registered
Office : |
Allana House, 4, Allana Road, Colaba, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-22811000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
13.08.1992 |
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|
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|
Com. Reg. No.: |
11-068160 |
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Capital
Investment / Paid-up Capital : |
Rs.11.800 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15100MH1992PTC068160 |
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|
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI05275E |
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|
|
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PAN No.: [Permanent Account No.] |
AAACI6584Q |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of food products. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject company was incorporated on 13th August, 1992, it
is an established company having fine track record. The rating on company reflect strong growth into its operating income
and strong financial position, robust networth base backed by its zero debt
balance sheet. The rating further take into account on company established track
record, well experience promoters marked by diversify product portfolio
backed by established cliental base and wide geographic networks. Trade relations are reported as fair. Business is active. Payment
terms are regular and as per commitment. The company can be considered good for normal business dealing with
its usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Arshad |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-22797645 |
|
Date : |
07.08.2015 |
LOCATIONS
|
Registered Office : |
Allana House, 4, Allana Road, Colaba, Mumbai – 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-22811000 / 797645 / 22874455
|
|
Fax No.: |
91-22-22044821 / 2204 7002
|
|
E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Corporate Office : |
Allana Centre, A. R. J. Allana Marg, 113 / 115 M.G Road, Fort, Mumbai –
400001, Maharashtra, India
|
|
Tel. No.: |
91-22-2262 8000 / 6656 9000
|
|
Fax No.: |
91-22-2269 5700 / 2269 5701
|
|
E-Mail : |
info@allana.com
|
|
|
|
|
Factory : |
Plot No. B, 1-4, Industrial Area, Site2, Unnao – 209801, Uttar
Pradesh, India |
|
Tel. No.: |
91-515-2829550 |
DIRECTORS
AS ON 10.09.2014
|
Name : |
Mr. Jayprakash Nandlal Atal |
|
Designation : |
Whole-time director |
|
Address : |
Bunglow No.2, Atur Park, V. N. Purav Marg, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
12.12.1950 |
|
Date of Appointment : |
14.09.1993 |
|
DIN No. : |
00226246 |
|
|
|
|
Name : |
Mr. Nazir Hussain Mohammed Kodiwala Pil |
|
Designation : |
Whole-time director |
|
Address : |
H. No. 13/1A, Near Galaxy, Cinema Danayapilly, Kochi – 682002, Kerala,
India |
|
Date of Birth/Age : |
02.05.1964 |
|
Date of Appointment : |
24.08.1998 |
|
DIN No. : |
00322605 |
KEY EXECUTIVES
|
Name : |
Mr. Arshad |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
AS ON 10.09.2014
|
Names of Shareholders |
No. of Shares |
|
Frigorifico Allana Limited, India |
279998 |
|
Anjaneya Cold Storage Limited, India |
180000 |
|
Allanasons Limited, India |
270000 |
|
Frigerio Conserva Allana Limited, India |
250000 |
|
Allana Cold Storage Limited, India |
200000 |
|
S.N. Bhatri Holding Jointly with Iqbal Abdulgani Soorya as a Nominee
for Frigorifico Allana Limited |
1 |
|
Iqbal Abdulgani Soorya Holding Jointly with S.N. Bhatri as a Nominee
for Frigorifico Allana Limited |
1 |
|
|
|
|
Total |
1180000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 10.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of food products. |
|
|
|
|
Products : |
Food Products |
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|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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|
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, Dalamal
Tower, 211, Nariman Point, Mumbai – 400021, Maharashtra, India |
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PAN No.: |
AAAFB6405G |
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|
|
|
Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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|
Associate : |
·
Allanasons Limited [U51990MH1973PLC016285] ·
Frigorifico Allana Limited
[U01220MH1986PLC040835] ·
Frigerio Conserva Allana Limited
[U74999MH1989PLC051140] |
CAPITAL STRUCTURE
AS ON 10.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
7000000 |
Preference Shares |
Rs.10/- each |
Rs.70.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.90.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1180000 |
Equity Shares |
Rs.10/- each |
Rs.11.800 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 |
11.800 |
11.800 |
12.200 |
|
(b) Reserves & Surplus |
6309.084 |
4870.962 |
3863.277 |
|
(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) |
6320.884 |
4882.762 |
3875.477 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
49.029 |
40.253 |
37.366 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
14.230 |
13.375 |
10.526 |
|
Total Non-current
Liabilities (3) |
63.259 |
53.628 |
47.892 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
152.063 |
141.593 |
332.323 |
|
(c) Other
current liabilities |
222.576 |
30.599 |
88.125 |
|
(d) Short-term
provisions |
24.052 |
16.242 |
17.429 |
|
Total Current
Liabilities (4) |
398.691 |
188.434 |
437.877 |
|
|
|
|
|
|
TOTAL |
6782.834 |
5124.824 |
4361.246 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1159.376 |
698.199 |
645.290 |
|
(ii)
Intangible Assets |
15.055 |
18.819 |
19.200 |
|
(iii)
Capital work-in-progress |
160.059 |
42.927 |
1.059 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2435.733 |
2424.128 |
761.651 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.723 |
7.965 |
6.806 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3777.946 |
3192.038 |
1434.006 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1075.592 |
286.315 |
306.125 |
|
(c) Trade
receivables |
1393.070 |
1261.825 |
2122.120 |
|
(d) Cash
and cash equivalents |
431.775 |
282.098 |
229.421 |
|
(e)
Short-term loans and advances |
85.760 |
63.104 |
239.068 |
|
(f) Other
current assets |
18.691 |
39.444 |
30.506 |
|
Total Current
Assets |
3004.888 |
1932.786 |
2927.240 |
|
|
|
|
|
|
TOTAL |
6782.834 |
5124.824 |
4361.246 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15985.950 |
11426.776 |
8083.506 |
|
|
|
Other Income |
2.017 |
2.787 |
0.246 |
|
|
|
TOTAL (A) |
15987.967 |
11429.563 |
8083.752 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10994.977 |
8091.684 |
5726.462 |
|
|
|
Purchase of Stock-in-trade |
1924.089 |
477.525 |
363.102 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(712.567) |
115.899 |
111.024 |
|
|
|
Employee Benefits Expenses |
275.854 |
236.741 |
160.179 |
|
|
|
Other Expenses |
1177.545 |
896.996 |
626.944 |
|
|
|
TOTAL (B) |
13659.898 |
9818.845 |
6987.711 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2328.069 |
1610.718 |
1096.041 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2328.069 |
1610.718 |
1096.041 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
103.358 |
81.518 |
71.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
2224.711 |
1529.200 |
1024.281 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
786.588 |
521.515 |
375.690 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1438.123 |
1007.685 |
648.591 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4655.564 |
3647.879 |
2999.288 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6093.687 |
4655.564 |
3647.879 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1219.00 |
847.00 |
532.00 |
|
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 flow from (used in) operations |
1597.665 |
2398.121 |
535.595 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
9.00 |
8.82 |
8.02 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.56 |
14.10 |
13.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
53.13 |
57.54 |
28.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.31 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.54 |
10.26 |
6.69 |
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 |
12.200 |
11.800 |
11.800 |
|
Reserves & Surplus |
3863.277 |
4870.962 |
6309.084 |
|
Net
worth |
3875.477 |
4882.762 |
6320.884 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
|
Sales |
8083.506 |
11426.776 |
15985.950 |
|
|
|
41.359 |
39.899 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
8083.506 |
11426.776 |
15985.950 |
|
Profit |
648.591 |
1007.685 |
1438.123 |
|
|
8.02% |
8.82% |
9.00% |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
REVIEW OF OPERATIONS:
During the year, the Company achieved a turnover of Rs.15985.950 million as compared to Rs.11426.776 million showing a growth of 40% over the previous year.
Net Profit during the year is Rs.1438.123 million compared to Rs.1007.685 million in the previous year.
NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
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,
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.63.81 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
66 |
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.