MIRA INFORM REPORT

Report No. :	302007
Report Date :	19.01.2015

IDENTIFICATION DETAILS

Name :	ENGINEERED POLYMERS (INDIA) PRIVATE LIMITED
Registered Office :	705, Prasham Apartment, Kasturba Gandhi Road, Rajkot – 360001, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	25.07.1979
Com. Reg. No.:	04-003464
Capital Investment / Paid-up Capital :	Rs. 0.500 Million
CIN No.: [Company Identification No.]	U25209GJ1979PTC003464
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 :	Manufacturer and Exporter of Engineering High Performer Polymer in Rod, Tubes, Plates and Machined Parts.
No. of Employees :	50 (Approximately)

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 260000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The management has failed to file its financial with the government department for the year 2014. As per available financial of 2013, general financial position of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Sunil Hanchate
Designation :	Marketing Head
Contact No.:	91-9322906814
Date :	15.01.2015

LOCATIONS

Registered Office :	705, Prasham Apartment, Kasturba Gandhi Road, Rajkot – 360001, Gujarat, India
Tel. No.:	91-281-2477405
Mobile No.:	91-9322906814 [Mr. Sunil Hanchate]
Fax No.:	91-281-2477406
E-Mail :	bheda@mtnl.net.in sunil@enplasin.com info@enplasin.com sales@enplasin.com
Website :	http://www.enplasin.com http://www.bheda.com
Factory :	86, Jigni Industrial Area, Bangalore - 562106, Karnataka, India
Tel. No.:	91-80-27825374
Fax No.:	91-80-27826339
Marketing Office :	202, Kapadia Appartments, 39, S.V. Road, Vile Parle [West], Mumbai – 400056, Maharashtra, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Sundarji Lalji Bheda

Designation :

Director

Address :

“Meru” 77, North – South Road No. 9, The Hatkesh Cooperative Housing Society Limited, JVPD Scheme, Vile Parle [West], Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

01.01.1933

Date of Appointment :

25.07.1979

PAN No.:

ADBPB1237C

DIN No.:

00301238

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	U25209GJ1979PTC003464	ENGINEERED POLYMERS (INDIA) PRIVATE LIMITED	Director	25/07/1979	25/07/1979	Active	NO
2	U51900MH1996PTC104216	AVEAN INTERNATIONAL PRIVATE LIMITED	Director	29/11/1996	29/11/1996	Active	NO
3	U65990MH2000PTC126380	NALANDA SECURITIES PRIVATE LIMITED	Director	01/08/2000	01/08/2000	Active	NO
4	U74120MH2012PTC237486	NALANDA COMMODITIES PRIVATE LIMITED	Director	03/11/2012	03/11/2012	Active	NO

Name :

Talakshi Lalji Bheda

Designation :

Director

Address :

601, Coral Juhu Sai Darshan Cooperative Housing Society Limited, Gulmohar Cross Road No. 5, JVPD Scheme, Vile Parle [West], Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

25.01.1938

Date of Appointment :

25.07.1979

PAN No.:

AAOPB1512A

DIN No.:

00624844

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	U25209GJ1979PTC003464	ENGINEERED POLYMERS (INDIA) PRIVATE LIMITED	Director	25/07/1979	25/07/1979	-	Active	NO
2	U22211GJ1982PTC005564	DELUX PRINTING PRESS PRIVATE LIMITED	Director	07/10/1982	07/10/1982	15/03/2010	Active	NO
3	U51900MH1996PTC104216	AVEAN INTERNATIONAL PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Active	NO

Name :

Mr. Kishor Sundarji Bheda

Designation :

Director

Address :

“Meru” 77, North – South Road No. 9, The Hatkesh Cooperative Housing Society Limited, JVPD Scheme, Vile Parle [West], Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

30.11.1958

Date of Appointment :

06.01.1997

PAN No.:

AAOPB1509K

DIN No.:

00619481

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	U25209GJ1979PTC003464	ENGINEERED POLYMERS (INDIA) PRIVATE LIMITED	Director	06/01/1997	06/01/1997	-	Active	NO
2	U91110MH1976GAP019243	INDIAN OILSEEDS AND PRODUCE EXPORT PROMOTION COUNCIL	Director	14/09/1997	14/09/1997	30/09/2009	Active	NO
3	U51900MH1996PTC104216	AVEAN INTERNATIONAL PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Active	NO
4	U15137GJ2006PTC047485	JEE-HEET TORTILLA PRIVATE LIMITED	Director	09/08/2006	09/08/2006	08/04/2011	Active	NO
5	U91110WB1957NPL023474	SHELLAC AND FOREST PRODUCTS EXPORT PROMOTION COUNCIL	Director	02/06/2009	02/06/2009	28/09/2012	Active	NO

Name :

Mr. Jayant Sundarji Bheda

Designation :

Director

Address :

553, 8^th Main, 4^th B Block, Korumangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

07.04.1953

Date of Appointment :

07.02.1983

PAN No.:

AAOPB1513B

DIN No.:

00676517

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	U25209GJ1979PTC003464	ENGINEERED POLYMERS (INDIA) PRIVATE LIMITED	Director	07/02/1983	07/02/1983	Active	NO

KEY EXECUTIVES

Name :	Mr. Sunil Hanchate
Designation :	Marketing Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Sundarji Lalji Bheda	452
Talakshi Lalji Bheda	450
Zaverchand L. Bheda	375
Jayant S. Bheda	450
Kishor S. Bheda	450
Yogini J. Bheda	200
Ketan T. Bheda	450
Jahnavi K. Bheda	350
Zaverchand L. Bheda HUF	100
Kuntal Z. Bheda	475
Rashmiben Z. Bheda	300
Aditya J. Bheda	250
Naushil J. Bheda	250
Jay K. Bheda	448
Total	5000

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Engineering High Performer Polymer in Rod, Tubes, Plates and Machined Parts.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Finished Goods
Countries :	Asian Country
Imports :
Products :	Raw Material
Countries :	Europe
Terms :
Selling :	Cash and Cheque
Purchasing :	Cash and Cheque

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers and Retailers

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

50 (Approximately)

Bankers :

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

· Union Bank of India

Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India

· State Bank of India

· Union Bank of India, Bangalore

· HDFC Bank Limited, Rajkot

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
HDFC Car Loan [Skoda]		0.274
Union Bank of India Term Loan		10.137
Total	10.616	10.411

Banking Relations :	--
Auditors :
Name :	Dipak C. Parikh and Company Chartered Accountants
Address :	Room No. 18, 1st Floor, Om Shanti Building, 42, Babu Genu Road, Kalbadevi, Mumbai – 400002, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AACPP1362L
Group Companies :	· Bheda Brothers · Avean International Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 100/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,000	Equity Shares	Rs. 100/- each	Rs. 0.500 Million

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	0.500	0.500	0.500
(b) Reserves & Surplus	91.394	79.946	64.900
(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)	91.894	80.446	65.400
(3) Non-Current Liabilities
(a) Long-term borrowings	10.616	10.411	5.111
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.027	0.027	0.027
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	10.643	10.438	5.138
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2.417	1.434	1.448
(c) Other current liabilities	0.156	0.155	3.886
(d) Short-term provisions	6.111	26.577	20.111
Total Current Liabilities (4)	8.684	28.166	25.445
TOTAL	111.221	119.050	95.983
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	57.739	59.298	47.249
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.714	0.848	1.066
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	58.453	60.146	48.315
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	4.445	3.441	4.881
(c) Trade receivables	16.302	19.178	11.218
(d) Cash and cash equivalents	5.901	4.520	2.697
(e) Short-term loans and advances	20.381	26.964	24.551
(f) Other current assets	5.739	4.801	4.321
Total Current Assets	52.768	58.904	47.668
TOTAL	111.221	119.050	95.983

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES TURNOVER		69.189	82.773	75.568
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX		16.848	21.418	17.543
Less	TAX		5.401	6.371	5.100
	PROFIT AFTER TAX		11.447	15.047	12.443
	Earnings Per Share (Rs.)		2289.40	3009.40	2488.60

PARTICULARS	31.03.2014
Sales Turnover (Approximately)	120.000

Expected Sales (2014-2015): Rs. 150.000 Millions

The above information has been parted by Mr. Sunil Hanchate [Marketing Head]

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	15.15	17.99	18.28
Return on Investment (ROI) (PBT/Networth)		0.18	0.27	0.27
Debt Equity Ratio (Total Debt/Networth)		0.12	0.13	0.08
Current Ratio (Current Asset/Current Liability)		6.08	2.09	1.87

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.500	0.500	0.500
Reserves & Surplus	64.900	79.946	91.394
Net worth	65.400	80.446	91.894
Long-term borrowings	5.111	10.411	10.616
Short term borrowings	0.000	0.000	0.000
Total borrowings	5.111	10.411	10.616
Debt/Equity ratio	0.078	0.129	0.116

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 Turnover	75.568	82.773	69.189
		9.534	(16.411)

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 Turnover	75.568	82.773	69.189
Profit	12.443	15.047	11.447
	16.47%	18.18%	16.54%

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10223789	23/09/2009	63,800,000.00	UNION BANK OF INDIA	MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA	A78657210
2	90108903	03/09/1992	500,000.00	UNION BANK OF INDIA	BHAT BAZAR BRANCH; 273-277, ANANT DEEP CHAMBERS; NAREI NATHA STREET, BOMABY, MAHARASHTRA - 400009, INDIA	-
3	90108314	14/03/1985	1,400,000.00	UNION BANK OF INDIA	UNION BANK BHAVAN, 59; BACKABY RECLAMATION; NARIMAN POINT, BOMABY, MAHARASHTRA - 490021, INDIA	-
4	90108284	17/02/1984	1,200,000.00	UNION BANK OF INDIA	UNION BANK BHAVAN; M. B. ZONE-II, 239; BACKABY RE  CLAMATION; NARIMAN P, BOMABY, MAHARASHTRA - 400021, INDIA	-

FIXED ASSETS:

· Computer

· Vehicles

· Furniture and Fixture

· Building

· Plant and Machinery

· Electric Installation

· Office Equipment

· Air Conditioner

· Vaccume Cleaner

· Other Equipments

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 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. 61.89
UK Pound	1	Rs. 93.92
Euro	1	Rs. 72.01

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--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	--

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.