MIRA INFORM REPORT
|
Report No. : |
302268 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROCKWELL INDUSTRIES LIMITED (w.e.f.04.10.1995) |
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Formerly Known As : |
ROCKWELL DEVICES PRIVATE LIMITED |
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Registered Office : |
6-3-883/2/A, |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
28.07.1986 |
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Com. Reg. No.: |
01-6638 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
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CIN No.: [Company
Identification No.] |
U29150TG1986PLC006638 |
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|
|
IEC No.: |
Not Divulged |
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|
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDR00068F |
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|
|
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PAN No.: [Permanent
Account No.] |
AABCR0725M |
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|
Legal Form : |
A Closely Held Pubic Limited Liability Company |
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Line of Business : |
Manufacturer of Commercial Refrigeration Appliances. |
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No. of Employees
: |
Information decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 740000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track. Management has failed to file latest financials of FY14, with the
statutory authorities. As per available, trade relations are reported as fair. Business is
active. Payments are reported to be usually correct. The company can be considered normal for 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL SME |
|
Rating |
SE1A |
|
Rating Explanation |
High financial strength and highest performance capacity |
|
Date |
December 2013 |
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 DENIED
MANAGEMENT NON-COOPERATIVE
LOCATIONS
|
Registered Office : |
6-3-883/2/A, |
|
Tel. No.: |
91-40-23414830/23414831 |
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Fax No.: |
91-40-23414829 |
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E-Mail : |
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|
Website : |
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Factory : |
Survey No. 849, Adj. to Industrial Estate, Medchal Ranga Reddy
District, |
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Tel. No.: |
91-8418-222926 |
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Fax No.: |
91-8418-225742 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ashok Kumar Gupta |
|
Designation : |
Managing Director |
|
Address : |
302, Emedrald House, |
|
Date of Birth/Age : |
08.02.1956 |
|
Date of Appointment : |
28.07.1986 |
|
DIN No. : |
01662910 |
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|
Name : |
Dr. A L Anantha Narayana |
|
Designation : |
Director |
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Address : |
B – 171, Sanikpuri, Secunderabad, |
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Date of Birth/Age : |
25.04.1946 |
|
Date of Appointment : |
25.06.1996 |
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DIN No. : |
00495490 |
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|
|
|
Name : |
Mrs. Geeta Gupta |
|
Designation : |
Director |
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Address : |
406, Ashok |
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Date of Birth/Age : |
05.05.1957 |
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Date of Appointment : |
28.07.1986 |
|
DIN No. : |
01662955 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Geetha Gupta |
504485 |
|
Ashok K. Gupta |
160015 |
|
Ashish Gupta |
167500 |
|
Manish Gupta |
113000 |
|
Prateek Gupta |
55000 |
|
TOTAL |
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Commercial Refrigeration Appliances. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information decline by management |
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Bankers : |
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
R Kankaria and Uttam Singhi Chartered Accountant |
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Address : |
6-3-1090/C-4, Raj |
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Tel. No.: |
91-40-23308988 |
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Mobile No.: |
91-9248212121 |
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Fax No.: |
91-40-23399033 |
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E-Mail : |
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PAN No.: |
AAEFR2500G |
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Memberships : |
----- |
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Collaborators : |
----- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1990000 |
Equity Shares |
Rs.10/- each |
Rs.19.900 Millions |
|
10000 |
Preference Shares |
Rs.10/- each |
Rs.0.100 Millions |
|
|
Total |
|
Rs.20.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
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|
|
|
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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
250.200 |
189.724 |
154.174 |
|
(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) |
260.200 |
199.724 |
164.174 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
93.312 |
101.263 |
106.113 |
|
(b) Deferred tax liabilities (Net) |
25.165 |
25.562 |
15.017 |
|
(c) Other long term
liabilities |
0.921 |
0.921 |
1.160 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
119.398 |
127.746 |
122.290 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
188.771 |
108.987 |
89.218 |
|
(b) Trade
payables |
64.564 |
77.927 |
50.217 |
|
(c) Other
current liabilities |
46.576 |
35.981 |
13.520 |
|
(d) Short-term
provisions |
9.155 |
3.572 |
8.896 |
|
Total Current
Liabilities (4) |
309.066 |
226.467 |
161.851 |
|
|
|
|
|
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TOTAL |
688.664 |
553.937 |
448.315 |
|
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|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
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|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
157.038 |
137.324 |
131.125 |
|
(ii)
Intangible Assets |
0.598 |
0.483 |
0.498 |
|
(iii)
Capital work-in-progress |
45.963 |
12.532 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
37.892 |
36.293 |
25.445 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.506 |
8.105 |
4.648 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
262.997 |
194.737 |
161.716 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.576 |
89.018 |
59.256 |
|
(c) Trade
receivables |
285.040 |
229.098 |
205.846 |
|
(d) Cash
and cash equivalents |
25.697 |
9.130 |
8.403 |
|
(e)
Short-term loans and advances |
32.003 |
31.178 |
12.749 |
|
(f) Other
current assets |
1.351 |
0.776 |
0.345 |
|
Total
Current Assets |
425.667 |
359.200 |
286.599 |
|
|
|
|
|
|
TOTAL |
688.664 |
553.937 |
448.315 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
613.634 |
436.526 |
415.317 |
|
|
|
Other Income |
3.459 |
1.924 |
1.988 |
|
|
|
TOTAL (A) |
617.093 |
438.450 |
417.305 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
353.517 |
245.904 |
213.397 |
|
|
|
Purchases of Stock-in-Trade |
9.550 |
10.059 |
13.288 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(13.772) |
(3.258) |
(3.717) |
|
|
|
Employees benefits expense |
43.644 |
33.973 |
28.993 |
|
|
|
Payment to Auditors |
0.000 |
0.000 |
0.165 |
|
|
|
Power and Fuel |
0.000 |
0.000 |
1.938 |
|
|
|
Other expenses |
108.117 |
72.587 |
67.554 |
|
|
|
TOTAL (B) |
501.056 |
359.265 |
321.618 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
116.037 |
79.185 |
95.687 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.612 |
15.756 |
4.589 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
99.425 |
63.429 |
91.098 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.836 |
19.686 |
5.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
78.589 |
43.743 |
85.470 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
28.838 |
17.756 |
26.972 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
49.751 |
25.987 |
58.498 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
60.48 |
35.55 |
58.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
8.11 |
5.95 |
14.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
18.91 |
18.14 |
23.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.99 |
8.66 |
20.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.22 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.08 |
1.05 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.59 |
1.77 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
154.174 |
189.724 |
250.200 |
|
Net
worth |
164.174 |
199.724 |
260.200 |
|
|
|
|
|
|
long-term borrowings |
106.113 |
101.263 |
93.312 |
|
Short term borrowings |
89.218 |
108.987 |
188.771 |
|
Total
borrowings |
195.331 |
210.250 |
282.083 |
|
Debt/Equity
ratio |
1.190 |
1.053 |
1.084 |
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 |
415.317 |
436.526 |
613.634 |
|
|
|
5.107 |
40.572 |
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 |
415.317 |
436.526 |
613.634 |
|
Profit |
58.498 |
25.987 |
49.751 |
|
|
14.09% |
5.95% |
8.11% |
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 |
|
No |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
LATIGATION DETAILS
|
ITTA 507 / 2013 |
ITTASR 929 / 2011 |
CASE IS :PENDING |
|
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|
|
|
PETITIONER |
RESPONDENT |
|
|
COMMISSIONER INCOME TAX-III
VS M/S ROCKWELL INDUSTRIES LIMITED |
||
|
PET.ADV. : NARASIMHA SARMA |
RESP.ADV. : |
|
|
SUBJECT : U/Sec.143 Assessment |
DISTRICT : HYDERABAD |
|
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|
FILING DATE : 21-03-2011 |
POSTING STAGE : FOR ADMISSION AND HEARING |
|
|
REG. DATE : 23-10-2013 |
LISTING DATE : 25-10-2013 |
STATUS : ADMIT |
|
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|
HON’BBLE JUDGE(S): |
HON’BLE THE CHIEF |
|
|
|
JUSTICE |
SANJAY KUMAR |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10278083 |
02/01/2014 * |
264,000,000.00 |
AXIS BANK LIMITED |
1ST FLOOR,
6-3-879/B, G PULLA REDDY BUILDING, GREENLANDS, BEGUMPAT, HYDERABAD, ANDHRA
PRADESH - 500 |
B94734282 |
|
2 |
10052653 |
19/03/2014 * |
176,500,000.00 |
INDIAN OVERSEAS BANK |
INDIAN OVERSEAS BANK, RASHTRPATHI ROAD, SECUNDERABAD, ANDHRA PRADESH - 500003, INDIA |
C02679678 |
|
3 |
90131631 |
23/01/1989 |
600,000.00 |
INDIAN OVERSEAS BANK |
R.P.ROAD, SECUNDERABAD, ANDHRA PRADESH, INDIA |
- |
* Date of charge modification
Fixed Assets:
- Land
- Buildings
(Factory)
- Plant and
Machinery
- Furniture and
Fixtures
- Electrical
Installations
- Air
Conditions
- Office
Equipment
- Computers
- Testing
Equipments
- Cylinders
- Pagers
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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 records 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. 62.39 |
|
|
1 |
Rs. 94.16 |
|
Euro |
1 |
Rs. 73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.