MIRA INFORM REPORT

Report No. :	352575
Report Date :	01.12.2015

IDENTIFICATION DETAILS

Name :	BASIL COMMODITIES PRIVATE LIMITED
Registered Office :	408, FP 16/17/18, Iscon Elegance, Near Shapath -V, Opposite Karnavati Club, S. G. Highway, Ahmedabad-380051, Gujarat
Tel. No.:	91-79-40037681/40037682
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.06.2008
Com. Reg. No.:	04 - 054221
Capital Investment / Paid-up Capital :	Rs. 10.200 Million
CIN No.: [Company Identification No.]	U52100GJ2008PTC054221
IEC No.:	0808009117
TAN No.: [Tax Deduction & Collection Account No.]	AHMB04584G
PAN No.: [Permanent Account No.]	AADCB4870F
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of trading, exporting and importing of raw cotton, cotton bales and chemicals. (Confirmed by management)
No. of Employees :	22 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 124000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company incorporated in the year 2008 having satisfactory track record. Profit margin of the company is low. However, net worth base of the company is satisfactory. General financial position of the company is normal and acceptable for business dealing. Further, the rating also takes into consideration favorable gap between trade payables and trade receivables. Trade relations are reported as fair. Business is active. Payments terms are reported as slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions. Note: As per Registrar of Companies the date of balance sheet (i.e, financial filed) is shown as 31.03.15 but the financial for the year 2015 are not available from any sources

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	Short term rating : A4+
Rating Explanation	Minimal degree of safety and carry high credit risk.
Date	28.05.2015

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Rasik Patel
Designation :	Senior Accountant
Contact No.:	91-79-66168791
Date :	28.11.2015

LOCATIONS

Registered Office / Corporate Office :	408, FP 16/17/18,Iscon Elegance, Near Shapath -V, Opposite Karnavati Club, S. G. Highway, Ahmedabad-380051, Gujarat, India
Tel. No.:	91-79-40037681/40037682
Fax No.:	91-79-40037683
E-Mail :	info@thisisbasil.com rravanica3@gmail.com
Website :	http://www.thisisbasil.com
Area :	4600 sq. ft.
Location :	Rented
Locality :	Commercial
Branch Office :	302-304 Akshat Tower, Near Pakwan Restaurant II, Bodakdev, S.G.Highway Ahmedabad – 380054, Gujarat, India
Area :	2600 sq. ft.
Location :	Rented
Locality :	Commercial

DIRECTORS

As on: 30.09.2014

Name :

Mr. Pathik Zinabhal Patel

Designation :

Director

Address :

19, Pushpak Bunglows, Swagat Plaza-11, Bopal, Dascroi, Ahmedabad-380058, Gujarat, India

Date of Birth/Age :

19.09.1982

Date of Appointment :

17.06.2008

PAN No.:

AMCPP5892M

DIN No.:

02201782

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	U52100GJ2008PTC054221	BASIL COMMODITIES PRIVATE LIMITED	Director	17/06/2008	17/06/2008	-	Active	NO
2	U17291GJ2013PTC076514	NIVA SPINTEX PRIVATE LIMITED	Director	22/08/2013	22/08/2013	-	Active	NO

Name :

Mrs. Archana Pathik Patel

Designation :

Director

Address :

19, Pushpak Bunglows, Swagat Plaza-11, Bopal, Dascroi, Ahmedabad-380058, Gujarat, India

Date of Birth/Age :

13.06.1985

Date of Appointment :

17.06.2008

PAN No.:

AWPPP4633D

DIN No.:

02201803

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	U52100GJ2008PTC054221	BASIL COMMODITIES PRIVATE LIMITED	Director	17/06/2008	17/06/2008	-	Active	NO
2	U24100GJ2011PTC065929	NIVA ORGANICS PRIVATE LIMITED	Director	16/06/2011	16/06/2011	01/04/2014	Active	NO
3	U51900GJ2011PTC065936	NIVA EXPORTS PRIVATE LIMITED	Director	16/06/2011	16/06/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2014

Names of Shareholders	No. of Shares
Pathik Zinzbhai Patel	252000
Archanaben Pathikbahi Patel	193800
Panchdeep Cotton Industries Private Limited	64400
Thkarshibhai Becharbhai	30400
Zaverbhai Vithalbhai	34100
Takhubhai Anakbhai	34200
Sureshbhai Jivrajbahi	34200
Ravjibhai Ranchhodbhai	34200
Pravenbhai Ganeshbhai	34200
Parshotambhai Valjibahi	34200
Naranbhai Parshotambhai	34200
Madhubhai Becharbhai	34200
Khodabhai Becharbhai	34200
Bhupatbhai Raningbhai	34200
Bharatbhai Valerbhai	34200
Babubhai Manjibhai	34200
Dadubhai Boghabhai	34200
Pratapbhai Bhagubhai	34200
Bhavnaben Lakhani	100
Harjibhai Lakhani	100
Kajal Pravibhai	100
Laxmiben Lakhani	100
Nitinbhai Lakhani	100
Pravinbhai lakhani	100
NishithPravinbhai lakhani	100
Total	1020000

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 trading, exporting and importing of raw cotton, cotton bales and chemicals. (Confirmed by management)

Products :

Item Code No.	Product Description
0204	Raw Cotton, Cotton Bales and Chemicals

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Product :

Finished Goods

Countries :

• China
• Bangladesh
• Pakistan
• Vietnam
• Turkey

Imports :

Not Available

Terms :

Selling :

Cash / L/C / Credit

Purchasing :

Cash / L/C / Credit

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

22 (Approximately)

Bankers :

Bank Name	Tamilnad Mercantile Bank Limited
Branch	1B, Wall Street, 1^st Floor, Opposite Orient Club, Elisbridge, Ahmedabad – 380006, Gujarat, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Kotak Mahindra Bank Limited, Satellite Branch, Ahmedabad, Gujarat, India

Facilities :

SECURED LOAN	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Working capital loan from bank (Pledge of warehouse stock carries interest @ 10.60% p.a)	49.596	6.526
Total	49.596	6.526

Auditors :
Name :	Rajiv I. Ravani and Company Chartered Accountants
Address :	703, Abhishree Avenue, Opposite Hanumanji Temple, Nehru Nagar, Cross Roads, Above Axis Bank, Ambawadi, Ahmedabad – 380015, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAGFR9697E
Memberships :	--
Collaborators :	--
Associates :	· Panchdeep Cotton Industries
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Panchdeep Cotton Industries Private Limited, India CIN No.: U17110GJ2005PTC046754 · Niva Organics Private Limited, India CIN No.: U24100GJ2011PTC065929

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1100000	Equity Shares	Rs.10/- each	Rs.11.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1020000	Equity Shares	Rs.10/- each	Rs.10.200 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	10.200	10.200	10.200
(b) Reserves & Surplus	33.292	24.494	16.343
(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)	43.492	34.694	26.543
(3) Non-Current Liabilities
(a) long-term borrowings	8.213	11.603	10.533
(b) Deferred tax liabilities (Net)	0.005	0.000	0.000
(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)	8.218	11.603	10.533
(4) Current Liabilities
(a) Short term borrowings	49.696	6.743	14.007
(b) Trade payables	5.157	1.792	8.965
(c) Other current liabilities	10.040	3.224	16.669
(d) Short-term provisions	9.101	7.893	5.556
Total Current Liabilities (4)	73.994	19.652	45.197
TOTAL	125.704	65.949	82.273
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.578	0.423	0.390
(ii) Intangible Assets	0.000	0.000	0.000
(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	0.001	0.000
(d) Long-term Loan and Advances	0.000	3.500	3.500
(e) Other Non-current assets	0.000	0.000	0.009
Total Non-Current Assets	0.578	3.924	3.899
(2) Current assets
(a) Current investments	0.025	0.025	0.000
(b) Inventories	50.655	0.000	2.275
(c) Trade receivables	6.672	1.218	22.403
(d) Cash and cash equivalents	42.403	2.681	4.150
(e) Short-term loans and advances	5.214	41.276	34.015
(f) Other current assets	20.157	16.825	15.531
Total Current Assets	125.126	62.025	78.374
TOTAL	125.704	65.949	82.273

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1972.449	1368.009	1595.160
	Other Income	57.702	44.291	36.053
	TOTAL	2030.151	1412.300	1631.213
Less	EXPENSES
	TOTAL	2016.407	1399.902	1618.103
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	13.744	12.398	13.110
Less/ Add	DEPRECIATION/ AMORTISATION	0.130	0.085	0.073
	PROFIT/ (LOSS) BEFORE TAX	13.614	12.313	13.037
Less	TAX	4.816	4.162	4.239
	PROFIT/ (LOSS) AFTER TAX	8.798	8.151	8.798
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	24.494	16.343	7.545
	Balance Carried to the B/S	33.292	24.494	16.343
	Earnings / (Loss) Per Share (Rs.)	8.65	7.99	8.63

Particulars	31.03.2015
Sales Turnover (Approximately)	2020.000

Expected Sales (2015-2016) : Rs.2250.000 Million

The above information has been parted by Mr. Rasik Patel (Senior Accountant)

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) operation	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.45	0.60	0.55
Return on Total Assets (PBT/Total Assets}	(%)	10.83	18.67	15.85
Return on Investment (ROI) (PBT/Networth)		0.31	0.35	0.49
Debt Equity Ratio (Total Debt /Networth)		1.33	0.53	0.92
Current Ratio (Current Asset/Current Liability)		1.69	3.16	1.73

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	10.200	10.200	10.200
Reserves & Surplus	16.343	24.494	33.292
Net worth	26.543	34.694	43.492
long-term borrowings	10.533	11.603	8.213
Short term borrowings	14.007	6.743	49.696
Total borrowings	24.540	18.346	57.909
Debt/Equity ratio	0.925	0.529	1.331

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	1595.160	1368.009	1972.449
		(14.240)	44.184

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	1595.160	1368.009	1972.449
Profit	8.798	8.151	8.798
	0.55%	0.60%	0.45%

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	Yes
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	Yes
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)	Yes
16]	No. of employees	Yes
17]	Details of sister concerns	Yes
18]	Major suppliers	Yes
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	No
26]	Turnover of firm for last four years	Yes
27]	Reasons for variation <> 20%	--
28]	Estimation for coming financial year	Yes
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	Yes
35]	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and advances from related parties	8.213	11.603
Short-term borrowings
Deposits	0.100	0.217
Total	8.313	11.820

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10473941	12/12/2013	250,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	1B, WALL STREET, 1ST FLOOR, OPP. ORIENT CLUB, ELISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA	B94846953
2	10473957	12/12/2013	50,000,000.00	TAMILNAD MERCANTILE BANK LIMITED	1B, WALL STREET, 1ST FLOOR,, OPP. ORIENT CLUB, ELISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA	B94852100
3	10401380	10/01/2013	1,000,000.00	THE KALUPUR COMMERCIAL CO.OP. BANK LIMITED	KALUPUR BANK BHAVAN,, ASHRAM ROAD,, AHMEDABAD, Gujarat - 380006, INDIA	B67401141
4	10300028	15/03/2012 *	112,500,000.00	KOTAK MAHINDRA BANK LIMITED	36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA	B36427060
5	10269308	09/02/2011	50,000,000.00	TAMILNADU MERCANTILE BANK LIMITED	1B, WALL STREET 1, FIRST FLOOR, OPP. ORIENT CLUB, ELLISBRIDGE,, AHMEDABAD, Gujarat - 380006, INDIA	B06259915

* Date of charge modification

FIXED ASSETS:

• Compute
• Office Furniture
• Telephone Plant
• Water Plant
• Refrigerator
• Samsung LCD TV
• Scooter

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.66.81
UK Pound	1	Rs.100.36
Euro	1	Rs.70.68

INFORMATION DETAILS

Information Gathered by :	DPA
Analysis Done by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		43

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.