MIRA INFORM REPORT

Report No. :	352741
Report Date :	01.12.2015

IDENTIFICATION DETAILS

Name :	CUMMINS TECHNOLOGIES INDIA PRIVATE LIMITED (w.e.f 10.12.2014)

Formerly Known As :	CUMMINS TECHNOLOGIES INDIA LIMITED (w.e.f 17.10.2008) CUMMINS TURBO TECHNOLOGIES LIMITED (w.e.f 19.03.2007) TATA HOLSET LIMITED

Registered Office :	Cummins India Office Campus, Tower A, 2^nd, 4^th, and 8^th Floor, Survey No. 21, Balewadi, Pune – 411045, Maharashtra
Tel. No.:	91-20-67067000

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	20.12.1994

Com. Reg. No.:	11-139153

Capital Investment / Paid-up Capital :	Rs.150.000 Million

CIN No.: [Company Identification No.]	U29113PN1994FTC139153

IEC No.:	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the manufacturing of engines, turbochargers, pre integrated, generated sets.

No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Aa (72)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is a subsidiary of ‘Cummins Inc'. USA. It is engaged in the manufacturing of engines, turbochargers, pre integrated, generated sets. It offers turbochargers for the medium-heavy duty diesel engines. The company provides its services to automotive sector in India and overseas. For the financial year ended 2014, company has reported 24.36% sales turnover growth as compared to previous sales turnover and it has maintained decent profitability margins at 16.73% during the year under a review. Rating takes into consideration company's established track record of business operations marked by its healthy financial base along with adequate net worth position and strong debt coverage indicators. Rating also takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. 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.

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 31-03-2015.

INFORMATION DECLINED

MANAGEMENT NON CO-OPERATIVE (91-20-67067000/91-124-3910900)

LOCATIONS

Registered Office / Corporate Office:	Cummins India Office Campus, Tower A, 2^nd, 4^th, and 8^th Floor, Survey No. 21, Balewadi, Pune – 411045, Maharashtra, India
Tel. No.:	91-20-67067000
Fax No.:	Not Available
E-Mail :	tiwari.ashish@cummins.com turbo.info@holset.com

Factory:	Dahanukar Colony, Kothrud, Pune – 411038, Maharashtra, India

DIRECTORS

AS ON 31.03.2015

Name :	Mr. Rajiv Batra
Designation :	Director
Address :	Flat No 5 And 6, The Iris, Sangamwadi, North Main Road, Koregaon Park, Pune - 411001, Maharashtra, India
Date of Birth/Age :	30.09.1955
Date of Appointment :	16.03.2007
DIN No.:	00082866
PAN No.:	AAFPB4485K

Name :	Mr. Anant Jaivant Talaulicar
Designation :	Director
Address :	1901, Floor-19, Sterling Tower, Harishchandra, Goregaonkar Marg, Gamdevi Lane, Grant Road, Mumbai - 400007, Maharashtra, India
Date of Birth/Age :	11.07.1961
Date of Appointment :	01.03.2004
DIN No.:	00031051

Name :	Mr. Pradeep Kumar Bhargava
Designation :	Director
Address :	Flat No. 19, Cozy Retreat No. 3, Sindh Housing Society, Aundh, Pune - 411007, Maharashtra, India
Date of Birth/Age :	25.06.1949
Date of Appointment :	08.09.2011
DIN No.:	00525234

Name :	Mr. Sandeep Sinha
Designation :	Director
Address :	Cust No 4, Kumar City S.No. 13/14, Wadgaon Shery, Pune - 411014, Maharashtra, India
Date of Appointment :	04.02.2015
DIN No.:	02400175

KEY EXECUTIVES

Name :	Mr. Umesh Madanlal Oza
Designation :	Secretary
Address :	Plot No.15, Survey No.253, Lohegaon Road, Near Ganesh Temple, Khese Park, Pune - 411032, Maharashtra, India
Date of Appointment :	04.02.2015
PAN No:	AAJPO2034K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 20.09.2013

Names of Shareholders		No. of Shares
Cummins INC, India		7500000
Cummins Turbo Technologies Limited, India		7499994
Cummins Turbo Technologies Limited, India jointly with Mr. Sameer chugh		1
Cummins Turbo Technologies Limited, India jointly with Mr. Qureish Shipchandler		1
Cummins Turbo Technologies Limited, India jointly with Ms. Sudha Dhar		1
Cummins Turbo Technologies Limited, India jointly with Mr. Anant Talaulicar		1
Cummins Turbo Technologies Limited, India jointly with Mr. Rajiv Batra		1
Cummins Turbo Technologies Limited, India jointly with MR. Pradeep Bharagava		1
Total		15000000

Equity Share Break up (Percentage of Total Equity)

As on 20.09.2013

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	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the manufacturing of engines, turbochargers, pre integrated, generated sets.

Products :

Item Code No.	Product Description
84148030	Turbocharger

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
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 :

Information declined by the management

Bankers :

Banker Name	Standard Chartered Bank
Branch Address	23, Narain Manzil, Barakhamba Road,, New Delhi, 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

Auditors :
Name :	Price Waterhouse Chartered Accountants
Address :	Mutha Towers, 5^th Floor, Suite No.8, Airport Road, Yerwada , Pune-411006, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAEFP3641G

Memberships :	Not Available

Collaborators :	Not Available

Ultimate Holding Company:	Cummins Inc. USA

Fellow Subsidiaries:	Cummins Turbo Technologies Limited, U.K. Wuxi Cummins Turbo Technologies Limited, China Wuxi Vane Wheel Engineering Company Limited, China Cummins India Limited Cummins Brazil Limited Cummins Generator Technologies India Limited, India [U31101PN1991PLC061456] Cummins Research and Technology India Limited, India [U73100PN2003PLC018025] Cummins Emission Solutions (China) Company Limited Cummins Emission Solutions (CES) Darlington Cummins Limited, UK Cummins S De RL De C V, Mexico Chongoing Cummins Engine Company Limited Cummins Japan Limited Cummins Komatsu Engine Company Cummins Indiana Cummins Belgium Cummins Filtration Inc. Cummins Asia Pacific Pte Limited Cummins Power Generation Limited Cummins (China) Investment Company Limited. Cummins Deutshland Gmbh Cummins Generator Technologies Limited Cummins Emission Solutions Inc. Cummins Generator Technologies (China) Company Limited Cummins Power Generation (China) Company Limited Cummins Power Generation Inc. Cummins Sales and Service Singapore Pte. Limited Cummins Fuel System (Wuhan) Company Limited Cummins Generator Technologies (china) Company Limited

Associates:	Tata Cummins Limited, India [U34101JH1993PLC005546]

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

15000000	Equity Shares	Rs.10/- each	Rs. 150.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

15000000	Equity Shares	Rs.10/- each	Rs. 150.000 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	150.000	150.000	150.000
(b) Reserves & Surplus	7474.900	5738.900	4210.700
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment			0.000
Total Shareholders’ Funds (1) + (2)	7624.900	5888.900	4360.700

(3) Non-Current Liabilities
(a) long-term borrowings	1933.500	0.000	70.100
(b) Deferred tax liabilities (Net)	198.600	156.000	82.200
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	123.300	121.000	83.600
Total Non-current Liabilities (3)	2255.400	277.000	235.900

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2422.000	1287.000	1037.800
(c) Other current liabilities	730.400	632.300	386.700
(d) Short-term provisions	33.700	24.400	16.900
Total Current Liabilities (4)	3186.100	1943.700	1441.400

TOTAL	13066.400	8109.600	6038.000

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4133.200	2434.700	1837.200
(ii) Intangible Assets	118.600	4.700	1.400
(iii) Capital work-in-progress	2022.600	532.300	233.700
(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	803.100	1190.900	310.500
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	7077.500	4162.600	2382.800

(2) Current assets
(a) Current investments	0.000	53.600	220.100
(b) Inventories	1879.300	1093.100	1149.900
(c) Trade receivables	3063.500	2069.800	1539.000
(d) Cash and cash equivalents	205.400	115.700	354.300
(e) Short-term loans and advances	839.600	614.000	390.100
(f) Other current assets	1.100	0.800	1.800
Total Current Assets	5988.900	3947.000	3655.200

TOTAL	13066.400	8109.600	6038.000

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	10377.500	8436.800	8683.800
	Other Income	189.100	59.800	113.500
	TOTAL (A)	10566.600	8496.600	8797.300

Less	EXPENSES
	Cost of Materials Consumed	4557.000	3860.100	4746.700
	Purchases of Stock-in-Trade	3.000	4.800	86.200
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(108.800)	33.200	(22.500)
	Employees benefits expense	1217.100	955.300	630.100
	Other expenses	1977.400	1288.700	1336.100
	TOTAL (B)	7645.700	6142.100	6776.600

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	2920.900	2354.500	2020.700

Less	FINANCIAL EXPENSES (D)	54.400	47.000	54.800

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	2866.500	2307.500	1965.900

Less/ Add	DEPRECIATION/ AMORTISATION (F)	532.400	422.100	325.000

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	2334.100	1885.400	1640.900

Less	TAX (I)	598.100	357.200	406.700

	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	1736.000	1528.200	1234.200

	Earnings / (Loss) Per Share (Rs.)	115.73	101.88	82.28

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	1964.600	1999.000	1565.700

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	16.73	18.11	14.21

Operating Profit Margin (PBIDT/Sales)	(%)	28.15	27.91	23.27

Return on Total Assets (PBT/Total Assets}	(%)	21.13	24.88	28.27

Return on Investment (ROI) (PBT/Networth)		0.31	0.32	0.38

Debt Equity Ratio (Total Debt /Networth)		0.25	0.00	0.02

Current Ratio (Current Asset/Current Liability)		1.88	2.03	2.54

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	150.000	150.000	150.000
Reserves & Surplus	4210.700	5738.900	7474.900
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	4360.700	5888.900	7624.900

long-term borrowings	70.100	0.000	1933.500
Short term borrowings	0.000	0.000	0.000
Total borrowings	70.100	0.000	1933.500
Debt/Equity ratio	0.016	0.000	0.254

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	8683.800	8436.800	10377.500
		(2.844)	23.003

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	8683.800	8436.800	10377.500
Profit	1234.200	1528.200	1736.000
	14.21%	18.11%	16.73%

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	No
8	Designation of contact person	No
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)	No
16	No. of employees	No
17	Details of sister concerns	Yes
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	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

NOTE: Registered office of the company has been shifted from 7-8th Floor, Down Town -The City Centre, Survey No. 8+13, Erandwane, Pune – 411004, Maharashtra India to the present address w.e.f. 15.01.2014

FINANCIAL PERFORMANCE

During the year, total revenue was Rs. 10566.600 Million as compared to Rs. 8496.600 Million during the previous year. Profit after tax was Rs. 1736.000 Million as compared to Rs. 1528.200 Million during the last year.

BUSINESS SEGMENT

The Company operations predominantly relate to manufacture of turbochargers and related components, income from rendering of business process services, reconditioning of engine components and manufacturing of engines, income from providing engineering, design and development services etc. relating to engines. Others include operation of emission solutions, manufactures of fuel systems components.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Intercorporate deposits	1448.500	0.000
Other loans and advances, others	485.000	0.000
Total	1933.500	0.000

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10557682	27/02/2015	1,300,000,000.00	STANDARD CHARTERED BANK	23, NARAIN MANZIL,, BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA	C47935721
2	10502766	18/03/2014	1,000,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI TED	AMAR AVINASH CORPORATE CITY, SURVEY NO. 11,, BUND GARDEN ROAD,, PUNE, MAHARASHTRA - 411001, INDIA	C06364160

FIXED ASSETS

Tangible assets

Land
Buildings
Furniture and fixtures
Vehicles
Office equipment
Computer equipments
Leasehold improvements

Intangible assets

Computer software
Know-how

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.100.37
Euro	1	Rs.70.68

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	KAR

Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--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		72

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.

MIRA INFORM REPORT

INDEX OF CHARGES

Unit