MIRA INFORM REPORT

Report No. :	301969
Report Date :	07.01.2015

IDENTIFICATION DETAILS

Name :	PAHARPUR COOLING TOWERS LIMITED
Formerly Known As :	PAHARPUR COOLING TOWERS PRIVATE LIMITED (w.e.f. 28.06.1971) PAHARPUR TIMBERS PRIVATE LIMITED
Registered Office :	Paharpur House, 8/1/B, Diamond Harbour Road, Kolkata - 700027, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	25.10.1949
Com. Reg. No.:	21-018363
Capital Investment / Paid-up Capital :	Rs. 84.000 Millions
CIN No.: [Company Identification No.]	U02005WB1949PTC018363
TAN No.: [Tax Deduction & Collection Account No.]	MRTP00232B
PAN No.: [Permanent Account No.]	AABCP8017C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Cooling Towers, Air Coolers and their components, and Flexible Packaging Products.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (69)

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
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having good track record. As per Registrar of companies the date of balance sheet i.e. financials filed is shown as 31^st March, 2014 but the documents related to the financials for the year 2014 are not available from any sources. As per the available financial of 2013, financial position of the company is strong. Trade relations are reported to be fair. Business is active. Payment terms are reported to be regular and as per commitments. In view of experience promoters, the company can be considered 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.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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	AA (Long Term Rating)
Rating Explanation	High degree of safety and carry very low credit risk.
Date	April 7, 2014

Rating Agency Name	CRISIL
Rating	A1+ (Short Term Rating)
Rating Explanation	Have very strong degree of safety and carry low credit risk.
Date	April 7, 2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED BY

Name :	Mr. Swapna Mandal
Designation :	Accounts Department
Contact No.:	91-120-4389100
Date :	06.01.2015

LOCATIONS

Registered / Corporate Office :	Paharpur House, 8/ 1/ B, Diamond Harbour Road, Kolkata - 700027, West Bengal, India
Tel. No.:	91-33-24792050/ 2152/ 2153/ 24791976/ 40133000
Fax No.:	91-33-24792188/ 40133499
E-Mail :	paharpur.ccu@gncl.globalnet.ems.vsnl.net.in, mswarup@paharpur.com corporatefinance@paharpur.com finance@paharpur.com pctccu@paharpur.com a.singhania@paharpur.com pctl1949@gmail.com
Website :	http://www.paharpur.com
Area :	48000 Sq. ft
Location :	Owned
Plants and Warehouse :	5-A, Oil Installation Road, Kolkata - 700088, West Bengal, India Tel. No. 91-33-24391583/24396946 Fax. No. 91-33-24392041 E-Mail.: pctcalfac@paharpur.com 14 Diamond Harbour Road, Vill Bhasa, Post Box Bishnupur, 24 Parganas, West Bengal, India Tel. No.: 91-33-24531910-13 E-Mail: pctbhasa@paharpur.com Survey No. 350, Nani Chirai, Taluka Bachau, Kutch - 370140, Gujarat, India Tel. No. 91-2836-285347 E-Mail.: pctkandla@paharpur.com Plot No. 9, Industrial Area IV, Sahibabad, District Ghaziabad, Uttar Pradesh, India Tel. No. 91-120-24770531/24770120/24770119 Fax. No. 91-120-4770594 E-Mail.: pctsbd@paharpur.com Plot No. 19, Industrial Area IV, Sahibabad, District Ghaziabad, Uttar Pradesh, India
Sales Offices :	Located at · Bangalore · Chennai · Hyderabad · Mumbai · New Delhi · Vadodara
Overseas Office :	Paharpur USA Inc. Denver International Business Center 18300 East 71st Avenue, Suite 135 Denver, CO 80249, U.S.A
Tel. No.:	+1-303-989 7200
Fax No.:	+1-720-962 8400
E-Mail :	info@paharpurusa.com
Global Sales Representatives:	Located At: · Australia · Canada · Iran · Jordan · Malaysia · Oman · Saudi Arabia · Thailand · Bahrain · Egypt · Iraq · Korea · Nepal · Philippines · Singapore · UAE · Bangladesh · Indonesia · Japan · Kuwait · New Zealand · Qatar · Syria · USA

DIRECTORS

As on 30.09.2014

Name :

Mr. Gyan Mahendra Swarup

Designation :

Director

Address :

2 B, Judges Court Road, Kolkata-700027, West Bengal, India

Date of Birth/Age :

13.06.1924

Date of Appointment :

28.09.2012

PAN No.:

ALLPS7241R

DIN No. :

03103553

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	Company/ LLP Status	Defaulting status
1	U74899DL1936PLC000564	PAHARPUR INDUSTRIES LIMITED	Director	28-12-1989	28-12-1989	Active	NO
2	U24239WB1976PLC030739	PAHARPUR CORPN LIMITED	Director	30-12-1989	30-12-1989	Active	NO
3	U29248WB1983PLC036013	MELVIN POWELL VANASPATI ENGINEERING INDUSTRIES LIMITED	Director	30-12-1989	30-12-1989	Active	NO
4	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LIMITED	Director	28-09-2012	17-03-2012	Active	NO

Name :

Mr. Vikram Mahendra Swarup

Designation :

Managing Director

Address :

2B, Judges Court Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

16.09.1948

Qualification :

BE (Mechanical)

Experience :

44 Years

Date of Appointment :

01.02.2012

PAN No. :

ASDPS2724E

DIN No. :

00163543

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	U29248WB1983PLC036013	MELVIN POWELL VANASPATI ENGINEERING INDUSTRIES LTD	DIRECTOR	16-03-1984	16-03-1984	-	ACTIVE	NO
2	U24111DL1971PLC005791	OKHLA CHEMICALS LIMITED	DIRECTOR	28-06-1985	28-06-1985	-	ACTIVE	NO
3	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LTD	MANAGING DIRECTOR	01-02-2012	14-07-1993	-	ACTIVE	NO
4	L65990MH1913PLC000374	INDUSTRIAL AND PRUDENTIAL INVESTMENT COMPANY LIMITED	DIRECTOR	25-03-1997	25-03-1997	12-11-2014	ACTIVE	NO
5	U74899DL1980PTC010609	SELECTO PAC PVT LTD	DIRECTOR	01-09-1997	01-09-1997	-	ACTIVE	NO
6	U74899DL1980PTC010482	DOYPACK SYSTEMS PRIVATE LIMITED	DIRECTOR	01-09-1997	01-09-1997	-	ACTIVE	NO
7	U74899DL1936PLC000564	PAHARPUR INDUSTRIES LIMITED	DIRECTOR	03-02-1999	03-02-1999	-	ACTIVE	NO
8	U67120WB1994PTC061897	HASTERA CREDIT PVT LTD	DIRECTOR	21-03-2005	21-03-2005	01-12-2012	ACTIVE	NO
9	U91990WB1959PLC024133	CALCUTTA SOUTH CLUB LTD	DIRECTOR	29-09-2005	29-09-2005	24-09-2013	ACTIVE	NO
10	U74999MH1968GAP014120	INDO-AMERICAN CHAMBER OF COMMERCE	DIRECTOR	29-09-2005	29-09-2005	26-09-2008	ACTIVE	NO
11	L01132WB1919PLC003334	BIRLA CORPORATION LIMITED	DIRECTOR	30-11-2006	30-11-2006	-	ACTIVE	NO
12	U74999MH1947PTC005508	THYSSENKRUPP INDUSTRIES INDIA PRIVATE LIMITED	DIRECTOR	05-02-2009	19-12-2008	-	ACTIVE	NO
13	U45200WB2004PTC150912	PAHARPUR-PRAGNYA TECH PARK PRIVATE LIMITED	DIRECTOR	30-04-2009	16-03-2009	-	ACTIVE	NO
14	U70109WB1996PTC078199	PAHARPUR PRAGNYA REALTY PRIVATE LIMITED	DIRECTOR	25-09-2009	01-09-2009	-	ACTIVE	NO
15	U70200WB2010PTC141590	PAHARPUR ASANSOL PROPERTIES PRIVATE LIMITED	DIRECTOR	01-02-2010	01-02-2010	15-06-2011	ACTIVE	NO
16	U74899DL1981PTC011783	GARIMA PVT LTD	DIRECTOR	24-05-2011	24-05-2011	-	ACTIVE	NO
17	U70101WB1995PTC071384	ARTH CERAMICS PRIVATE LIMITED	DIRECTOR	30-09-2014	30-01-2014	-	ACTIVE	NO

Name :

Mr. Gaurav Mahendra Swarup

Designation :

Managing Director

Address :

2B, Judges Court Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

21.11.1956

Qualification :

B.E. (Mechanical), MBA (Harvard University)

Experience :

32 Years

Date of Appointment :

01.02.2012

PAN No. :

AKTPS6727K

DIN No. :

00374298

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	L25209UP1970PLC003320	SWADESHI POLYTEX LIMITED	DIRECTOR	30-05-1988	30-05-1988	-	ACTIVE	NO
2	L65990MH1913PLC000374	INDUSTRIAL AND PRUDENTIAL INVESTMENT COMPANY LIMITED	DIRECTOR	17-04-1990	17-04-1990	-	ACTIVE	NO
3	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LIMITED	MANAGING DIRECTOR	01-02-2012	14-07-1993	-	ACTIVE	NO
4	U74899DL1936PLC000564	PAHARPUR INDUSTRIES LIMITED	DIRECTOR	26-10-1994	26-10-1994	-	ACTIVE	NO
5	U24230TG1994PTC018752	SHIVA ANALYTICALS (INDIA) PRIVATE LIMITED	DIRECTOR	01-01-1996	01-01-1996	27-10-2007	ACTIVE	NO
6	U25200MH1955NPL009601	THE PLASTICS EXPORT PROMOTION COUNCIL	DIRECTOR	18-10-1996	18-10-1996	-	ACTIVE	NO
7	U24111DL1965PLC004507	CHEMICAL AND METALLURGICAL DESIGN COMPANY LIMITED	DIRECTOR	13-04-1999	13-04-1999	14-10-2014	ACTIVE	NO
8	U28110AP1996PTC023794	INDO-US MIM TEC PRIVATE LIMITED	DIRECTOR	02-06-1999	02-06-1999	13-12-2012	ACTIVE	NO
9	L29120MH1960PLC011635	K S B PUMPS LIMITED	DIRECTOR	24-01-2000	24-01-2000	-	ACTIVE	NO
10	L15421UP1932PLC025141	UPPER GANGES SUGAR AND INDUSTRIES LIMITED	DIRECTOR	18-09-2014	20-02-2003	-	ACTIVE	NO
11	U67120WB1994PTC061897	HASTERA CREDIT PVT LTD	DIRECTOR	21-03-2005	21-03-2005	01-12-2012	ACTIVE	NO
12	L74999WB1974PLC041725	TIL LIMITED	DIRECTOR	29-07-2008	26-03-2008	-	ACTIVE	NO
13	U00313DL2005PTC140903	FLOETER INDIA RETORT-POUCHES PRIVATE LIMITED	DIRECTOR	30-09-2009	06-01-2009	-	ACTIVE	NO
14	U45200WB2004PTC150912	PAHARPUR-PRAGNYA TECH PARK PRIVATE LIMITED	DIRECTOR	30-04-2009	16-03-2009	-	ACTIVE	NO
15	U70109WB1996PTC078199	PAHARPUR PRAGNYA REALTY PRIVATE LIMITED	DIRECTOR	25-09-2009	01-09-2009	-	ACTIVE	NO
16	U70200WB2010PTC141590	PAHARPUR ASANSOL PROPERTIES PRIVATE LIMITED	DIRECTOR	01-02-2010	01-02-2010	15-06-2011	ACTIVE	NO
17	U74140WB2003PTC121076	MEDICA SYNERGIE PRIVATE LIMITED	NOMINEE DIRECTOR	25-06-2010	25-06-2010	-	ACTIVE	NO
18	U74899DL1981PTC011783	GARIMA PVT LTD	DIRECTOR	24-05-2011	24-05-2011	-	ACTIVE	NO
19	U63090WB2011PTC165284	C.D. AVIATION (INDIA) PRIVATE LIMITED	DIRECTOR	23-07-2011	23-07-2011	-	ACTIVE	NO
20	U80301MH2009NPL190825	HARVARD BUSINESS SCHOOL CLUB OF INDIA	ADDITIONAL DIRECTOR	01-04-2013	01-04-2013	-	ACTIVE	NO
21	U65990MH1981PLC025981	NEW HOLDING AND TRADING COMPANY LIMITED	DIRECTOR	11-09-2013	17-05-2013	-	ACTIVE	NO
22	L10101WB1974PLC094602	GRAPHITE INDIA LIMITED	ADDITIONAL DIRECTOR	25-08-2014	25-08-2014	-	ACTIVE	NO

Name :

Mr. Ratan Lal Gaggar

Designation :

Director

Address :

11, Sarat Bose Road, Lansdown Road, Kolkata – 700 020, West Bengal, India

Date of Birth/Age :

01.12.1932

Qualification :

B.A (Hons.), L.L.B

Date of Appointment :

30.12.1989

DIN No. :

00322904

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	L20211WB1957PLC023493	SARDA PLYWOOD INDUSTRIES LTD	DIRECTOR	28-06-1976	28-06-1976	-	ACTIVE	NO
2	L40200DL1968PLC005169	SOMANY CERAMICS LIMITED	DIRECTOR	09-03-1984	09-03-1984	04-09-2014	ACTIVE	NO
3	L74999WB1974PLC041725	TIL LIMITED	DIRECTOR	14-05-1985	14-05-1985	-	ACTIVE	NO
4	U99999MH1974PTC017460	TIL LIMITED	DIRECTOR	14-05-1985	14-05-1985	-	NOT AVAILABLE FOR EFILING	NO
5	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LTD	DIRECTOR	30-12-1989	30-12-1989	-	ACTIVE	NO
6	L74140AS1974PLC001498	FINANCIAL MANAGEMENT SERVICES LIMITED	DIRECTOR	05-02-1993	05-02-1993	13-07-2009	ACTIVE	NO
7	L70101WB1989PLC047465	SUMEDHA FISCAL SERVICES LTD	DIRECTOR	13-09-2014	30-03-1993	-	ACTIVE	NO
8	L40106DL1981PLC012228	SPML INFRA LIMITED	DIRECTOR	26-09-2014	30-06-1994	30-09-2014	ACTIVE	NO
9	U67120WB1995PTC071339	PREMIER STOCK BROKERS & FINANCIAL SERVICES PVT.LTD.	DIRECTOR	03-05-1995	03-05-1995	-	ACTIVE	NO
10	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	DIRECTOR	12-02-1999	12-02-1999	-	ACTIVE	NO
11	L17226WB1946PLC013554	EASTERN SILK INDUSTRIES LIMITED	DIRECTOR	27-01-2005	27-01-2005	01-02-2011	ACTIVE	NO
12	U45400WB2007PTC115959	ENERGY PROPERTIES PRIVATE LIMITED	DIRECTOR	05-11-2008	22-01-2008	-	ACTIVE	NO
13	U14290WB2008PTC125627	BHASKAR SILICON PRIVATE LIMITED	DIRECTOR	30-09-2009	18-08-2008	25-04-2011	ACTIVE	NO
14	U85110KA1997PLC021764	SUBHASH KABINI POWER CORPORATION LIMITED	DIRECTOR	26-09-2012	08-09-2012	-	ACTIVE	NO

Name :

Mr. Satya Brata Ganguly

Designation :

Director

Address :

5C, New Road, Alipore, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

23.10.1942

Date of Appointment :

30.09.2010

DIN No. :

01838353

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	U45206WB2007SGC116084	SUNDARBAN INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	DIRECTOR	04-01-2008	04-01-2008	24-03-2012	ACTIVE	NO
2	L20101WB1982PLC034435	CENTURY PLYBOARDS (INDIA) LIMITED	DIRECTOR	31-10-2011	26-06-2008	12-03-2012	ACTIVE	NO
3	U65990WB2009PLC134536	PEERLESS TRUST MANAGEMENT CO LIMITED	DIRECTOR	09-09-2014	09-04-2009	-	ACTIVE	NO
4	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LTD	DIRECTOR	30-09-2010	29-12-2009	-	ACTIVE	NO
5	L63993WB1983PLC036030	EMAMI LIMITED	DIRECTOR	09-08-2014	30-01-2010	-	ACTIVE	NO
6	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	DIRECTOR	30-09-2014	07-09-2011	-	ACTIVE	NO

Name :

Mr. Sumit Mazumder

Designation :

Director

Address :

Arjun Enclave, Flat No. 5A and 5B, 12 C, Judges Court Road, Kolkata-700027, West Bengal, India

Date of Birth/Age :

11.02.1948

Date of Appointment :

29.12.2009

DIN No. :

00116654

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	U99999MH1974PTC017460	TIL LIMITED	MANAGING DIRECTOR	01-06-1994	01-06-1994	-	NOT AVAILABLE FOR EFILING	NO
2	L74999WB1974PLC041725	TIL LIMITED	MANAGING DIRECTOR	01-06-2014	01-06-1994	-	ACTIVE	NO
3	U51109WB1996PTC077009	MARBELLOUS TRADING PVT LTD	DIRECTOR	25-09-2006	25-09-2006	-	ACTIVE	NO
4	U51109WB1995PTC068308	SALGURN MERCHANTS PVT.LTD.	DIRECTOR	18-12-2006	18-12-2006	-	ACTIVE	NO
5	U27109WB1996PTC079606	BP COMMODITIES PVT LTD	DIRECTOR	18-12-2008	18-12-2008	-	ACTIVE	NO
6	U52190WB2009PTC137548	SUBHMANGAL TRACOM PRIVATE LIMITED	DIRECTOR	16-08-2010	17-08-2009	-	ACTIVE	NO
7	U51109WB2007PTC117014	ANSUYA AGENCIES PRIVATE LIMITED	DIRECTOR	31-05-2010	14-09-2009	-	ACTIVE	NO
8	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LTD	DIRECTOR	30-09-2010	29-12-2009	-	ACTIVE	NO
9	U29150WB1995PTC072501	TRACTORS INDIA PRIVATE LIMITED	WHOLE-TIME DIRECTOR	01-01-2014	01-04-2010	-	ACTIVE	NO
10	U91990WB1907GAP001754	THE BENGAL CLUB LTD	DIRECTOR	05-04-2011	05-04-2011	-	ACTIVE	NO
11	U85300WB1926GAP005585	INDIAN CHAMBER OF COMMERCE CALCUTTA	DIRECTOR	24-07-2012	30-06-2011	26-07-2013	ACTIVE	NO
12	U75142WB1967SGC026988	WEST BENGAL INDUSTRIAL DEVELOPMENT CORPN LTD	DIRECTOR	29-11-2013	23-05-2013	-	ACTIVE	NO

KEY EXECUTIVES

Name :	Hirak Ghosh
Designation :	Secretary
Address :	CB136, Salt Lake City, Kolkata – 700064, West Bengal, India
Date of Birth/Age :	16.01.1957
Date of Appointment :	29.09.2013
PAN No. :	ADZPG6238Q
Name :	Mr. Swapna Mandal
Designation :	Accounts Department
Name :	Mr. Md. Nadeem
Designation :	CEO- 3P Division
Name :	Mr. T K Ghatak
Designation :	CEO-Projects

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Jain Industrial and Commercial Services Private Limited, India	210
Garima Private Limited, India	42000
Gyan M Swarup (Trustee of Swarup Family Trust)	413490
Vikram Swarup	155200
Bindu V Swarup	8400
Gaurav Swarup	155100
Parul Swarup	8400
Siddharth Swarup	100
Varun Swarup	100
Devina Swarup	100
Mahima swarup	100
Karishma Swarup	100
Anand Swarup Foundation, India	56700
Total	840000

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	5.03
Directors or relatives of Directors	88.23
Other top fifty shareholders	6.74
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Cooling Towers, Air Coolers and their components, and Flexible Packaging Products.

Products :

Item Code No. (ITC Code)	Product Description
84199090	Cooling Towers

Brand Names :

--

Agencies Held :

--

Exports :

--

Imports :

--

Terms :

--

PRODUCTION STATUS [AS ON 31.03.2011]

LICENSED CAPACITIES

Under the Government of India's prevailing industrial policy, licensing is not applicable to the Company's manufacturing activities in cooling towers, Heat exchangers, HDPE/ PP woven sacks and flexible packaging products.

Particulars	Unit	Installed Capacity	Actual Production
Cooling tower	No.	2400	1284.000
Heat exchanger	No	700	639.000
Flexible packaging products	Tone	6000	--
Wind Power	MW	40.7	44094915.070
Laminates	Tone	--	6012.310
Plastic Pouches	Lakh Pcs	--	2589.196

The installed capacity of each class of products depends upon a number of variables including product mix, name plate capacities, process cycle, thickness or gauge, etc. The installed capacities are certified by Management

GENERAL INFORMATION

Suppliers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

· Aruna Sugar Limited

· Andhra Petrochemicals

· Banias Refinery Company

· City Sugar Industries

· Dhampur Sugar Mills Limited

· Hindustan Fertiliser Corpn. Limited

· Indo Gulf Corporation Limited

· Modi Industries Limited

· Oudh Sugar Mills Limited

· Tata Power Company

· Wartsila NSD India Limited

No. of Employees :

Not Divulged

Bankers :

Bank Name:	NOT DIVULGED
Branch:
Name of the Person (with Designation):
Contact Number:
Name of Account Holder:
Account Number:
Account Since (Date/ Year of A/c Opening):
Average Balance Maintained (Optional):
Credit Facilities Enjoyed (CC/OD/Term Loan):
Account Operation:
Remarks:

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

· Citi Bank N.A., 41, Kanak Building, Chowringhee Road, Kolkata - 700071, West Bengal, India

· ING Vysya Bank Limited, 4/1,Middleton Street, Sikkim House, Kolkata - 700071, West Bengal, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Foreign currency term loans from banks	1133.112	1662.586
SHORT TERM BORROWINGS
Rupee term loans from banks	1208.963	1077.911
Foreign currency term loans from banks	206.309	261.476
Total	2548.384	3001.973

Financial Institution :	Axis Trustee Services Limited, Axis House, 2^nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai - 400025, Maharashtra, India
Auditors :
Name :	Lodha and Company Chartered Accountants
Address :	14, Government Place East, Kolkata - 700069, West Bengal, India
Income-tax PAN of auditor or auditor's firm :	AABFL1894Q
Subsidiary Companies :	· Pahar Pur Industries Limited CIN No.: U74899DL1936PLC000564 · Doypack Systems Private Limited CIN No.: U74899DL1980PTC010482 · Selecto Pac Private Limited CIN No.: U74899DL1980PTC010609 · Floeter India Retort-Pouches Private Limited CIN No.: U00313DL2005PTC140903 · Paharpur-Pragnya Tech Park Private Limited CIN No.: U45200WB2004PTC150912 · Paharpur Pragnya Realty Private Limited CIN No.: U70109WB1996PTC078199 · Paharpur Asansol Properties Private Limited CIN No.: U70200WB2010PTC141590 · Paharpur Usa, Inc · Safind forest product (pty) Limited · Paharpur Mauritius Limited · Paharpur Natural Resources Pty Limited (PNR)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Paharpur Corpn Limited CIN No.: U24239WB1976PLC030739 · Unicast Private Limited CIN No.: U74899DL1980PTC010611 · Unispanners Private Limited CIN No.: U74899DL1981PTC011421 · Swadeshi Polytex Limited CIN No.: L25209UP1970PLC003320 · Unifab Engineering Project Private Limited CIN No.: U28900MH2006PTC160654 · Melvin Powell Vanas Pati Engineering Industries Limited CIN No.: L29248WB1983PLC036013 · Hastera Credit Private Limited CIN No.: U67120WB1994PTC061897

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,000,000	Equity Shares	Rs.100/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
840,000	Equity Shares	Rs.100/- each	Rs. 84.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	84.000	84.000	84.000
(b) Reserves & Surplus	14400.171	12626.739	10317.424
(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)	14484.171	12710.739	10401.424
(3) Non-Current Liabilities
(a) Long-term borrowings	1133.112	1662.586	780.276
(b) Deferred tax liabilities (Net)	164.159	192.578	168.852
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	48.776	54.238	49.133
Total Non-current Liabilities (3)	1346.047	1909.402	998.261
(4) Current Liabilities
(a) Short term borrowings	1415.272	1339.387	809.684
(b) Trade payables	1776.327	1411.806	1229.024
(c) Other current liabilities	2671.132	3464.343	4287.926
(d) Short-term provisions	168.734	121.468	122.025
Total Current Liabilities (4)	6031.465	6337.004	6448.659
TOTAL	21861.683	20957.145	17848.344
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4496.805	4503.611	3343.850
(ii) Intangible Assets	0.334	0.836	2.091
(iii) Capital work-in-progress	1.164	400.727	1272.849
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	850.148	774.129	1020.006
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1953.337	1984.186	991.946
(e) Other Non-current assets	877.877	775.289	641.649
Total Non-Current Assets	8179.665	8438.778	7272.391
(2) Current assets
(a) Current investments	3099.833	3479.824	2934.307
(b) Inventories	2144.865	1852.173	1945.160
(c) Trade receivables	7045.596	6194.801	4591.187
(d) Cash and cash equivalents	204.527	312.444	541.165
(e) Short-term loans and advances	1066.439	588.845	546.380
(f) Other current assets	120.758	90.280	17.754
Total Current Assets	13682.018	12518.367	10575.953
TOTAL	21861.683	20957.145	17848.344

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	15550.910	14864.765	11599.765
		Other Income	554.662	414.579	612.182
		TOTAL (A)	16105.572	15279.344	12211.947
Less	EXPENSES
		Cost of Materials Consumed	7516.972	7171.117	5925.772
		Purchases of Stock-in-Trade	46.628	50.270	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	44.114	341.878	-210.508
		Employees benefits expense	878.875	791.286	643.043
		Other expenses	4105.671	3413.046	2719.810
		TOTAL (B)	12592.260	11767.597	9078.117
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3513.312	3511.747	3133.830
Less	FINANCIAL EXPENSES (D)		297.230	258.983	68.530
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3216.082	3252.764	3065.300
Less/ Add	DEPRECIATION/ AMORTISATION (F)		666.853	533.981	305.583
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2549.229	2718.783	2759.717
Less	TAX (H)		726.659	360.656	493.951
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		1822.570	2358.127	2265.766
	EARNINGS IN FOREIGN CURRENCY		412.364	376.804	571.012
	IMPORTS
		Raw Materials	939.219	523.815	607.888
		Components and Spare Parts	20.255	19.833	5.933
		Capital Goods	9.644	184.751	240.706
	TOTAL IMPORTS		969.118	728.399	854.527
	Earnings / (Loss) Per Share (Rs.)		2169.73	2807.29	2697.34

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	11.72	15.86	19.53
Operating Profit Margin (PBDIT/Sales)	(%)	22.59	23.62	27.02
Return on Total Assets (PBT/Total Assets}	(%)	12.13	13.74	17.74
Return on Investment (ROI) (PBT/Networth)		0.18	0.21	0.27
Debt Equity Ratio (Total Debt/Networth)		0.18	0.24	0.15
Current Ratio (Current Asset/Current Liability)		2.27	1.98	1.64

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	84.000	84.000	84.000
Reserves & Surplus	10317.424	12626.739	14400.171
Net worth	10401.424	12710.739	14484.171
long-term borrowings	780.276	1662.586	1133.112
Short term borrowings	809.684	1339.387	1415.272
Total borrowings	1589.960	3001.973	2548.384
Debt/Equity ratio	0.153	0.236	0.176

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	11599.765	14864.765	15550.910
		28.147	4.616

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	11599.765	14864.765	15550.910
Profit	2265.766	2358.127	1822.570
	19.53%	15.86%	11.72%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10517682	28/05/2014	589,400,000.00	CITI BANK N.A.	41, KANAK BUILDING, CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA	C18951699
2	10306134	18/09/2012 *	922,200,000.00	AXIS TRUSTEE SERVICES LIMITED	AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA	B59866210
3	10230535	03/06/2010	1,150,000,000.00	CITIBANK NA	KANAK BUILDING, 41 JAWAHAR LAL NEHRU ROAD, KOLKATA, WEST BENGAL - 700071, INDIA	A90442518
4	90250794	08/11/2004	2,000,000.00	EXPORT IMPORT BANK OF INDIA	CENTRE ONE BUILDING, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	-
5	90252218	15/12/2003	4,300,000.00	CITI BANK NA	41 CHOWRINGHEE ROAD, KOLKATA, WEST BENGAL - 700071, INDIA	-
6	90250535	15/09/2012 *	1,430,000,000.00	ING VYSYA BANK LIMITED	4/1,MIDDLETON STREET, SIKKIM HOUSE, KOLKATA, WEST BENGAL - 700071, INDIA	B59792556
7	90250086	15/05/1998 *	105,000,000.00	STANDARD CHARTERED BANK	4 NS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA	-
8	90250031	16/03/1996 *	29,300,000.00	AMERICAN EXPRESS BANK LTD	21 OLD COURT HOUSE STREET, KOLKATA, WEST BENGAL -  700001, INDIA	-
9	90250010	30/03/2009 *	6,000,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA	A62597414
10	80030875	11/03/1994	787,800,000.00	UNITED BANK OF INDIA	CORPORATE BUSINESS BRNACH, 16 OLD COURT HOUSE ST,  KOLKATA, WEST BENGAL - 700001, INDIA	-
11	90249157	11/10/1995 *	794,000,000.00	UNITED BANK OF INDIA	16 OLD COURT HOUSE STREET, KOLKATA, WEST BENGAL -  700001, INDIA	-
12	90251707	22/03/1996 *	205,000,000.00	UNITED BANK OF INDIA	CORPORATE BUSINESS BRANCH, 16 OLDCOURT HOUSE STREET, KOLKATA, WEST BENGAL - 700001, INDIA	-

* Date of charge modification

ECONOMIC ENVIRONMENT

Indian Economy is passing through challenging times and is facing its worst phase in last 10 years. Lot of it can be attributed to internal factors including economic policies. While Inflation has moderated but the interest rates continue to be high and severely affecting the country’s growth. With the alarming state of fiscal and current account deficit, the Indian Rupee has slipped to its lowest levels. This will affect growth and will further shake investor’s confidence. Recent moves by the Reserve Bank of India on tightening of the liquidity proved to be fatal for the industry and for the currency. The revised estimate shows the Indian GDP for 2013-14 could be lower than 5% of the lowest in last 15 years.

Capital Goods Industry especially power sector is one of the worst affected sectors. Despite the acute power shortage in the country, ongoing Projects are getting delayed due to many reasons including non-release of funds by Financial Institutions, lack of coal linkages and delays in signing of the Power Purchase Agreements. Many new projects though announced are yet to take off due to financial closure. The Company having significant exposure to power sector has also been affected by the downturn with higher cost of execution, delays in payments by customers and margin compression.

OPERATIONAL AND FINANCIAL OVERVIEW

The Directors are pleased to inform you that despite the Company facing a challenging time, the overall performance has been found to be stable. Total revenue during the year increased by 5.41% to Rs. 16105.600 Millions (previous year Rs. 15279.300 Millions) although t he EBITDAremained flat at Rs. 3513.300 Millions. The p rofit after tax during the year has also slipped down by 22.71% to Rs. 1822.600 Millions compared to Rs. 2358.100 Millions in the previous year due to higher tax provision compared to previous year where the tax provision was on MAT (Minimum Alternative Tax).

PROCESS COOLING SOLUTION BUSINESS

Process Cooling Solution business of the Company consists of wet and dry cooling business. The sales revenue for the segment has increased by 5.32% to Rs. 12966.300 Millions during the year under review from Rs. 12310.900 Millions in previous year, mainly due to large project backlog of the Company. However, the EBITDA margin has declined by about 3.86% due to time and cost overruns in some of the large projects and increase in the cost of inputs.

Fresh order inflow during the year under review increased to Rs. 9562.900 Millions as compared to Rs. 8672.000 Millions during the previous year despite low level of economic activities, especially in the power sector. Accordingly, the order backlog on 31^st March 2013 has also been less than Rs. 20000.000 Millions. The lower levels of backlog however, will help the Company to improve its project execution and reduce period of delays. With stagnation in the Indian market, the Company is looking to reach the overseas market for new business and have won few prestigious FRP cooling tower orders from Mexico for USD 5.4 million and Nigeria for Euro 2.8 million against stiff international competition.

The Company is taking steps to take advantage of the slowdown by bringing in change in its current business practices with an objective to improve its delivery cycle and operating margins.

FLEXIBLE PACKAGING BUSINESS

The flexible packaging business performance was flat. The turnover during the year has been stagnant at Rs. 2080.000 Millions as against Rs. 2090.000 Millions during the previous year, whereas EBITDA in the business was also flat at Rs. 190.000 Millions. The currency devaluation and rising input cost of petro products has affected the margin, which were largely offset by improvement in operating efficiencies and reduction in other overheads. The Company is implementing change in business practices with an objective to achieve growth.

RENEWABLE ENERGY BUSINESS

The revenue from the Company’s renewable energy segment increased to Rs. 472.200 Millions with EBITDA of Rs. 438.000 Millions during the year as against Rs. 295.700 Millions and Rs. 178.700 Millions respectively during the previous year. Improved performance was due to first full year of operation of the optimum installed capacity. The business is facing problems of marketability of the accrued REC certificates, rupee depreciation for its ECB loan and delays in payments by state utilities.

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipments

Intangible Assets

· Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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.63.39
UK Pound	1	Rs.96.72
Euro	1	Rs.75.80

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--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		69

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.