MIRA INFORM REPORT

 

 

Report No. :

356298

Report Date :

29.12.2015

 

IDENTIFICATION DETAILS

 

Name :

CHANDRAKALA TIE UP PRIVATE LIMITED

 

 

Registered Office :

129, Arjunpur, Paschimpara Rajarhat, Gopalpur, Kolkata- 700059, West Bengal

Tel. No.:

Not Available

 

 

Country :

India

 

 

Financials (as on) :

Not Available

 

 

Date of Incorporation :

11.01.2010

 

 

Com. Reg. No.:

21-140932

 

 

Capital Investment / Paid-up Capital :

Rs. 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U52390WB2010PTC140932

 

 

IEC No.:

Not Available

 

 

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 :

To carry on the business as buyers, sellers, traders, merchants, indentors, brokers, agents, commission agents, assemblers, refiners, cultivators miners, packers, stockiest, broker and sub broker, distributors, producer, advisors, hire purchasers, of and all kinds of electrical and electronics goods such as wire, cables, underground cable, main switch, electrical accessories and fittings, electrical fans, television, juicer, computers, radios, refrigerators, electronics typewriters, videos, cassettes and calculators etc. rubberized cloth food grains, dairy products, soap detergents, biscuits, surgical diagnostics medical pulsels, leather and finished leather goods, leather garments, leather products, all related items. (Registered Activity)

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Under Process of Striking off

 

 

Payment Behaviour :

--

 

 

Litigation :

--

 

 

Comments :

Subject was incorporated in the year 2010 and it is Under Process of Striking off.

 

As per our sources and investigation, we found that on incorporation of the company a certificate of registration is issued from the Government of India with the condition that the company has come into existence from the date of registration and the name of the Company is entered in the Register of Companies.

 

Once register the name cannot be removed from the register unless the company dissolved by the process of law. But in case the company failed to commence business within one year of date of registration the company become Defunct. Registered is authorized under Section 560 to striking the name of the company or remove the name of the company from the Register of Companies.

 

The Registrar of Companies may strike off the name of a company if it satisfies the conditions mention in Section 560 of the act. Under the fast-track scheme, a ‘Defunct Company’ is defined as one that:

 

1) Has no assets or Liability

2) Has not commenced any business activity or operations since incorporation.

3) Did not carry out any business activity or operations in the year before that in which t applies under the fast track scheme.

Again if company is not filling its balance sheet for many years than also it will be traded as Defunct Company.

 

In view of Under Process of Striking off, the company cannot be considered for any business dealings.

 

Note:-

Management of the company has not filed its financial with the Government Department for the year 2015, 2014, and 2013.

As per Registrar of Companies the date of balance sheet (i.e. financial filed) is show as 31.03.2012 but the documents related to the financials are not been 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

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

 

Unable to contact

 

LOCATIONS

 

Registered Office :

129, Arjunpur, Paschimpara Rajarhat, Gopalpur, Kolkata- 700059, West Bengal, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

gaspl@live.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Ms. Suman Sharma

Designation :

Director

Address :

49, Ezra Street, Ground Floor, Kolkata-700001, West Bengal, India

Date of Appointment :

15.05.2015

DIN No.:

00536282

 

 

Name :

Mr. Sharvan Sharma

Designation :

Director

Address :

49, Ezra Street, Ground Floor, Kolkata-700001, West Bengal, India

Date of Appointment :

15.05.2015

DIN No.:

00536323

 


 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 07.01.2010

 

Names of Shareholders

No. of Shares

%age holding

Gopal Kumar Yadav

5000

50.00

Ashoka Mujumdar

5000

50.00

Total

10000

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

To carry on the business as buyers, sellers, traders, merchants, indentors, brokers, agents, commission agents, assemblers, refiners, cultivators miners, packers, stockiest, broker and sub broker, distributors, producer, advisors, hire purchasers, of and all kinds of electrical and electronics goods such as wire, cables, underground cable, main switch, electrical accessories and fittings, electrical fans, television, juicer, computers, radios, refrigerators, electronics typewriters, videos, cassettes and calculators etc. rubberized cloth food grains, dairy products, soap detergents, biscuits, surgical diagnostics medical pulsels, leather and finished leather goods, leather garments, leather products, all related items. (Registered Activity)

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

No. of Employees :

Not Available

 

 

Bankers :

Bank Name

Not Available

Branch

Not Available

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

Auditors :

 

Name :

Mahato Prabir and Associates

Chartered Accountants

Address :

16/2G/1B,Dover Terrace, Kolkata-700019, West Bengal, India

Email :

auditor2014@rediffmail.com

PAN N Income-tax PAN of auditor or auditor's firm :

AGZPM8354Q

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 28.09.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

294000

Equity Shares

Rs.10/- each

Rs. 2.940 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

Not Available

 

 

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

No

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

No

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

No

21]

Banking facility details

No

22]

Conduct of the banking account

--

23]

Financials, if provided

No

24]

Capital in the business

No

25]

Last accounts filed at ROC, if applicable

No

26]

Turnover of firm for last three years

No

27]

Reasons for variation <> 20%

--

28]

Estimation for coming financial year

No

29]

Profitability for last three years

No

30]

Major shareholders, if available

No

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

 

 

INDEX OF CHARGES NO CHARGES EXIST FOR COMPANY

 

 

WEBSITE DETAILS

 

NEWS / PRESS RELEASE

 

August 30 2011

 

On June 7 2011 the Ministry of Corporate Affairs introduced its Fast-Track Exit Scheme. The scheme is a modification of the Easy Exit Scheme and adds new guidelines to allow non-defunct companies an easy exit by having their names struck off the Register of Companies.

 

The Easy Exit Scheme was introduced by the Ministry of Corporate Affairs to allow defunct companies an easy exit by having their name struck off the Register of Companies, where they have been inoperative since incorporation or commenced business and subsequently became inoperative. However, there are many other companies registered under the Companies Act 1956 which commenced operation and then became inoperative, have been inoperative since incorporation or were initially operative but later became defunct. To allow such companies to benefit from such a scheme, the ministry introduced its new guidelines under the fast-track scheme. These guidelines were implemented on July 3 2011.

 

The registrar of companies may strike off the name of a company if it satisfies the conditions mentioned in Section 560 of the act. In addition, for a company to have its name struck off under current practice, it must apply to the registrar via E-form 61 and file all pending statutory returns alongside such e-form.

 

Under the fast-track scheme, a 'defunct company' is defined as one that:

 

  • has no assets or liabilities;
  • has not commenced any business activity or operations since incorporation; or
  • did not carry out any business activity or operations in the year before that in which it applies under the fast-track scheme.

Further, any defunct company that has active status or is identified as dormant by the ministry may apply to have its name struck off from the Register of Companies. Defunct government companies must submit a 'no-objection certificate', as issued by the administrative ministry or department concerned or by the state government, along with the application for striking off.

 

Procedure for applications

An application must be made by a defunct company (as defined above) through the Fast-Track Exit Scheme Form, annexed electronically on the ministry portal, and accompanied by a filing fee of Rs5,000.

 

If the application is not digitally signed by any of the directors, a manager or a secretary, a physical copy of the form must be duly completed, signed manually by a director who is authorised by the board of directors and attached with the application form at the time of its electronic filing.

 

In all cases, the form must be certified by a chartered accountant, company secretary or cost accountant in full-time practice.

 

If the applicant's name is not available in the database of directors maintained by the ministry, the application must be accompanied by a certificate from a chartered accountant, company secretary or cost accountant in full-time practice, along with his or her membership number, certifying that the applicant is a director of the company. In such cases the applicant will not be asked to file Form 32 and Form DIN3.

 

The company must disclose pending litigation, if any, in which the company is involved while applying under the fast-track exit scheme.

 

If any pending prosecutions are only for non-filing of annual returns under Section 159 of the Companies Act 1956 and a balance sheet under Section 220 of the act, such application may be accepted, provided that the applicants have already filed the compounding application. However, steps for final striking off of the company's name will be taken only after disposal of the compounding application by the competent authority.

 

The form must be accompanied by an affidavit that has been sworn by each director of the company before a first-class judicial magistrate, executive magistrate, oath commissioner or notary, to the effect that the company has not carried on any business since incorporation or carried out business only for a period up to a particular date (which should be specified) and then discontinued its operations.

 

The form must also be accompanied by an indemnity bond, duly notarised, to be given by every director individually or collectively, to the effect that any losses, claims and liabilities of the company will be met in full by every director, individually or collectively, even after the name of the company has been struck off the Register of Companies.

 

For foreign nationals and non-resident Indians, the indemnity bond and affidavit must be notarised under their respective national law.

 

The company must also file a statement of accounts prepared not more than one month before the date of filing of the application, duly certified by a statutory auditor or chartered accountant in full-time practice.

 

In the case of 100% government-owned companies, if no board exists, an officer of at least the rank of deputy secretary of the administrative ministry concerned is authorised to enter his or her name and other details in the forms in place of the name and other details of the directors, and to sign the relevant documents before filing.

 

Exceptions

 

The fast-track exit mode cannot be extended to several types of company. These include:

 

  • listed companies;
  • companies that have been de-listed due to non-compliance with a listing agreement or any other statutory laws;
  • companies registered under Section 25 of the Companies Act 1956;
  • 'vanishing' companies - that is, companies registered under the act and listed with the stock exchange that have failed to file their returns with the registrar and the stock exchange for a consecutive period of two years and do not maintain their registered office at the address notified, and none of whose directors are traceable;
  • companies where inspections or investigations are underway or are yet to be carried out, or where completed prosecutions arising out of such inspections or investigations are pending in the court;
  • companies for which an order under Section 234 of the act has been issued by the registrar and a reply thereto is pending, or where prosecution is pending in the court;
  • companies against which prosecution for a non-compoundable offence is pending in court;
  • companies that have accepted public deposits which are outstanding or that are in default in repayment of the same;
  • companies with secured loans;
  • companies with management disputes;
  • companies for which the filing of documents has been stayed by a court, a company law board, central government or any other competent authority; or
  • companies with dues owing for income or sales tax, or to central excise, banks or financial institutions, any other central or state government department or authority or any local authority.

 

Action by registrar of companies

 

Under Section 560(3) of the act, on finding an application in order, the registrar must give 30 days' notice to the company by email (sent to the email address given in the form), stating that unless cause is shown to the contrary, its name will be struck from the register and the company will be dissolved.

 

The registrar must also detail daily - on the Ministry of Corporate Affairs' portal - the name of any applicants and the date on which applications were made under the fast-track exit mode, giving 30 days for stakeholders to raise objections before the registrar.

 

For companies - such as non-banking financial companies or collective investment management companies - that are regulated by other regulators (eg, the Reserve Bank of India or the Securities and Exchange Board of India), at the end of every week the registrar must indicate to the concerned regulators and to the Income Tax Department those companies that have applied under the fast-track exit mode during that period, and allow 30 days for them to raise any objections.

 

Once the prescribed 30-day period has elapsed, if satisfied that the case is otherwise in order, the registrar must strike the company's name off the register and send notice (under Section 560(5) of the act) for publication in the Official Gazette. The applicant company will be considered dissolved from the date of publication of such notice. The decision of the registrar in respect of striking off the name of company is final.

Subsequent developments

 

On July 1 2011 the ministry also proposed a procedure for the relaxation of exit norms for non-profit companies (under Section 25 of the act) that would allow them to de-register by taking advantage of the Fast-Track Exit Scheme, provided that they fulfilled and satisfied the prescribed criteria. This move follows the ministry's receipt of representation from various stakeholders for the development of a procedure (under Section 560 of the act) for striking off names of non-profit companies that have been granted a licence under Section 25 of the act.

 

Such companies include those that normally receive contributions in the form of donations, such as for charitable activities. According to the proposed guidelines, a company must pass a resolution in its general meeting proposing an application to the registrar to strike off its name; such resolution must be approved by all members or shareholders. Furthermore, for a company to benefit from the scheme, it must not have commenced any activity or operation since its incorporation, should have ceased activities for more than three years or should not have received any donation, grants or contribution from anyone other than its members.

 

In the event that a company obtains special status from any authority - such as the Department of Income Tax, commissioner of charity or any other organisation or department of central government, state government, municipal body or any recognised authority - a 'no-objection certificate' must be obtained from the authority concerned. Furthermore, as well as any existing assets, new assets must be transferred to a similar company before it applies to the registrar for its name to be struck off. This is in line with company law, which details that when such a company is wound up, any asset or property must be transferred to "any other such company having objects similar to the objects of this company". Members or the High Court can determine the company to which the assets must be transferred.

 

In addition, the company's balance sheets must be up to date and it must have filed its annual returns. The latest balance sheet should show no assets or liabilities. Under the Fast-Track Exit Scheme guidelines, the directors must file an affidavit and indemnity bond, and a certificate must be taken from its practising chartered accountant, company secretary or cost accountant certifying compliance by the company.

The ministry invited comments on the proposed guidelines by July 15 2011 from all persons; as such, the proposal is still pending implementation.

 

Central Government Act Section 560 in The Companies Act, 1956

 

560. Power of Registrar to strike defunct company off register.

 

(1) Where the Registrar has reasonable cause to believe that a company is not carrying on- business or in operation, he shall send to the company by post a letter inquiring whether the company is carrying on business or in operation.

 

(2) If the Registrar does not within one month of sending the letter receive any answer thereto, he shall, within fourteen days after the expiry of the month, send to the company by post a registered

 

letter referring to the first letter, and stating that no answer thereto has been received and that, if an answer is not received to the second letter within one month from the date thereof, a notice will be published in the Official Gazette with a view to striking the name of the company off the register.

 

(3) If the Registrar either receives an answer from the company to the effect that it is not carrying on business or in operation, or does not within one month after sending the second letter receive any answer, he may publish in the Official Gazette, and send to the company by registered post, a notice that, at the expiration of three months from the date of that notice, the name of the company mentioned therein will, unless cause is shown to the contrary, be struck off the resister and the company will be dissolved.

(4) If, in any case where a company is being wound up, the Registrar has reasonable cause to believe either that no liquidator is acting, or that the affairs of the company have been completely wound up, and any returns required to be made by the liquidator have not been made for a period of six consecutive months, the Registrar shall publish in the Official Gazette and send to the company or the liquidator, if any, a like notice as is provided in subsection (3).

(5) At the expiry of the time mentioned in the notice referred to in sub- section (3) or (4), the Registrar may, unless cause to the contrary is previously shown by the company, strike its name off the register, and shall publish notice thereof in the Official Gazette; and on the publication in the Official Gazette of this notice, the company shall stand dissolved: Provided that-

 

(a) the liability, if any, of every director, the managing agent, secretaries and treasurers, manager or other officer who was exercising any power of management, and of every member of the company, shall continue and may be enforced as if the company had not been dissolved; and

(b) nothing in this sub- section shall affect the power of the Court to wind up a company the name of which has been struck off the register.

 

(6) If a company, or any member or creditor thereof, feels aggrieved by the company having been struck off the register, the Court, on an application made by the company, member or creditor before the expiry of twenty years from the publication in the Official Gazette of the notice aforesaid, may, if satisfied that the company was, at the

time of the striking off, carrying on business or in operation or otherwise that it is just that the company be restored to the register, order the name of the company to be restored to the register; and the Court may, by the order, give such directions and make such provisions as seem just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off.

 

(7) Upon a certified copy of the order under sub- section (6) being delivered to the Registrar for registration, the company shall be deemed to have continued in existence as if its name had not been struck off.

 

(8) A letter or notice to be sent under this section to a company may be addressed to the company at its registered office, or if no office has been registered, to the care of some director, the managing agent, secretaries and treasurers, manager or other officer of the company, or if there is no director, managing agent, secretaries and treasurers, manager or officer of the company whose name and address are known to the Registrar, may be sent to each of the persons who subscribed the memorandum, addressed to him at the address mentioned in the memorandum.

 

(9) A notice to be sent under this section to a liquidator may be addressed to the liquidator at his last known place of business.

PART VIII APPLICATION OF ACT TO COMPANIES FORMED OR REGISTERED UNDER PREVIOUS COMPANIES LAWS

 

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.66.14

UK Pound

1

Rs.98.69

Euro

1

Rs.72.55

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

JYTK


 

 

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.