MIPL-Logo

 

MIRA INFORM REPORT

 

 

Report No. :

333070

Report Date :

21.07.2015

 

IDENTIFICATION DETAILS

 

Name :

P R K COMMODITIES PRIVATE LIMITED (w.e.f. 03.12.2007)

 

 

Formerly Known As :

A R K COMMODITIES PRIVATE LIMITED

 

 

Registered Office :

Near Ankit Kirana Co., 377, Gali Mandir Wali, 1st Floor, Naya Bansh, Khari Baoli

Delhi – 110006

Tel. No.:

Not Available

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.09.2007

 

 

Com. Reg. No.:

55-168782

 

 

Capital Investment / Paid-up Capital :

Rs.1.940 Million

 

 

CIN No.:

[Company Identification No.]

U01403DL2007PTC168782

 

 

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 of blending, processing and trading if agricultural products, metals including precious stones, diamonds, petroleum and energy products, general merchandise items and all other commodities and securities and trading in spot markets and in future and all kinds of derivatives of all the above commodities and securities.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 45000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Rating takes into consideration, subjects moderate financial risk profile marked by low profitability, small cash reserves and relatively high gearing.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

Subject can be considered for business dealings with some caution.

 

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

 

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 31-03-2013.

 

 

LOCATIONS

 

Registered Office :

Near Ankit Kirana Co., 377, Gali Mandir Wali, 1st Floor, Naya Bansh, Khari Baoli

Delhi – 110006, India 

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

dinesh_goyal19@hotmail.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mrs. Sarita Karnani

Designation :

Director

Address :

III-E/181, First Floor, B-4, Nehru Nagar, Ghaziabad - 201001, Uttar Pradesh, India

Date of Birth/Age :

14.06.1974

Date of Appointment :

28.09.2007

DIN No.:

01472464

 

 

Name :

Mr. Sanjay Kumar Karnani

Designation :

Director

Address :

10/1, Manoramaganj 602, Yeshraj Residency, Indore - 452001, Madhya Pradesh, India

Date of Birth/Age :

14.05.1971

Date of Appointment :

28.09.2007

DIN No.:

01532297

 

 

Name :

Mrs. Sangita Devi Karnani

Designation :

Director

Address :

Karnani Bhawan, Somani Mill Compound, Milanpally, Siliguri, Darjeeling - 734405, West Bengal, India

Date of Birth/Age :

06.03.1968

Date of Appointment :

28.09.2007

DIN No.:

01678898

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

% of Holding

Sanjay Karnani

2700

1.39

Sarita Karnani

63000

32.48

Sangita Devi Karnani

92000

47.43

Shruti Mundhra

30000

15.47

Neeraj Karwa

6075

3.13

Nitin Karwa

100

0.05

Shyam Ratan Karwa HUF

100

0.05

 

 

 

Total

193975

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

 

Percentage

Directors or relatives of Directors

81.00

Other top fifty shareholders

19.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

To carry on the business of blending, processing and trading if agricultural products, metals including precious stones, diamonds, petroleum and energy products, general merchandise items and all other commodities and securities and trading in spot markets and in future and all kinds of derivatives of all the above commodities and securities.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

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 :

Company Name :

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 :

Banker Name :

Vijaya Bank

Branch :

Dewas - 455001, Madhya Pradesh, India

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 :

Not Available

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Available

Account Operation :

Not Available

Remark :

Not Available

 

·         Kotak Mahindra Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Term Loans from ING Vysya Bank:

(Secured against hypothecation of all Stock of Raw Material, Stock in Process and finished goods and machinery (excluding vehicles), and E/M of factory land and building And Personally guaranteed by all Directors)

3.117

0.000

Term loan Vijaya Bank, Dewas Br (A/c No. 761608411000034)

(Secured against hypothecation of Duster Car)

0.677

0.000

Term Loan from Kotak Mahindra Prime Limited

0.349

0.000

Term Loans from Cholamandalam Finance Limited

(Secured against vehicle)

1.960

0.000

Term loan Vijaya Bank, Dewas Branch

(Secured against hypothecation of all Stock of Raw Material, Stock in Process and finished goods and machinery, and E/M of factory land and building and Personally guaranteed by all Directors)

0.000

6.874

 

 

 

Short Term Borrowings

 

 

ING Vysya Bank Limited (A/c No. 556044014947)

(Secured against hypothecation of all present and future current assets inclusive of all stocks and  book debts and E/M of specified immovable properties and personally guaranteed by all directors)

34.994

0.000

Vijaya Bank, Dewas Br (A/c No.761606211000002)

(Secured against hypothecation of book debts, all Stock of Raw Material, Stock in Process and machinery and E/M of factory land and building and Personally guaranteed by all Directors)

(0.040)

20.426

 

 

 

Total

41.057

27.300

 

Auditors :

 

Name :

Dinesh Goyal and Company

Chartered Accountants

Address :

47/1 I.D.A. Complex, Agrawal Nagar Main Road, Navlakha, Indore – 452001, Madhya Pradesh, India

PAN No.:

AAIFD8842P

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates :

·         Admant Packaging Private Limited

·         Sanjay Karnani HUF

·         Lalit Kumar Piyush Kumar

·         Pradeep Traders, Siliguri

·         Mr.Sushil Karnani HUF

·         Shyam ratan karwa HUF

·         Pradeep Karnani HUF

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

193975

Equity Shares

Rs.10/- each

Rs.1.940 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1.940

1.940

1.940

(b) Reserves & Surplus

13.684

12.213

10.796

(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)

15.624

14.153

12.736

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

26.000

17.491

15.478

(b) Deferred tax liabilities (Net)

0.703

0.803

0.562

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

26.703

18.294

16.040

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

36.139

21.519

5.482

(b) Trade payables

28.336

17.833

5.010

(c) Other current liabilities

6.478

4.082

3.404

(d) Short-term provisions

1.396

1.263

0.179

Total Current Liabilities (4)

72.349

44.697

14.075

 

 

 

 

TOTAL

114.676

77.144

42.851

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

25.174

18.165

15.752

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

3.980

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.020

0.320

0.300

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.578

0.566

1.977

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

29.752

19.051

18.029

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

28.891

19.783

9.049

(c) Trade receivables

52.128

31.694

13.855

(d) Cash and cash equivalents

3.336

2.089

1.467

(e) Short-term loans and advances

0.535

4.493

0.397

(f) Other current assets

0.034

0.034

0.054

Total Current Assets

84.924

58.093

24.822

 

 

 

 

TOTAL

114.676

77.144

42.851

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

180.614

101.630

53.787

 

 

Other Income

0.054

0.220

1.674

 

 

TOTAL                                              (A)

180.668

101.850

55.461

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

140.032

80.215

41.479

 

 

Purchase of Stock-in-trade

0.000

0.121

0.000

 

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

(5.067)

(4.913)

(0.264)

 

 

Employee Benefits Expenses

13.687

7.072

2.701

 

 

Other Expenses

19.575

11.291

4.473

 

 

TOTAL                                              (B)

168.227

93.786

48.389

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

12.441

8.064

7.072

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

6.525

3.797

2.878

 

 

 

 

 

 

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

5.916

4.267

4.194

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

3.768

2.209

1.837

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                  (G)     

2.148

2.058

2.357

 

 

 

 

 

Less

TAX                                                                  (H)

0.678

0.641

0.561

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

1.470

1.417

1.796

 

 

 

 

 

 

Earnings Per Share (Rs.)

7.58

7.31

9.26

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

6.424

3.714

3.405

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

0.81

1.39

3.34

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

6.89

7.93

13.15

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

1.94

2.68

5.54

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.15

0.19

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.39

3.02

1.91

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.17

1.30

1.76

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

1.940

1.940

1.940

Reserves & Surplus

10.796

12.213

13.684

Net worth

12.736

14.153

15.624

 

 

 

 

long-term borrowings

15.478

17.491

26.000

Short term borrowings

5.482

21.519

36.139

Current Maturities of Long term debt

3.405

3.714

6.424

Total borrowings

24.365

42.724

68.563

Debt/Equity ratio

1.913

3.019

4.388

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

53.787

101.630

180.614

 

 

88.949

77.717

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

53.787

101.630

180.614

Profit

1.796

1.417

1.470

 

3.34%

1.39%

0.81%

 

 

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

Yes

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

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Other Borrowings (from entities other than banks)

19.897

10.617

 

 

 

Short Term Borrowings

 

 

Deposits

1.185

1.093

 

 

 

Total

21.082

11.710

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10476074

16/02/2015 *

70,758,000.00

Kotak Mahindra Bank Limited

7/1,K.K. Bapna Arceda, Dr. Roshansingh Bhandari Marg, Savrkar Circle, Narayan Kothi, Indore, Madhya Pradesh - 452001, India

C55797716

2

10196375

28/03/2013 *

36,210,000.00

Vijaya Bank

Dewas, Dewas, Madhya Pradesh - 452001, India

B73123523

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Activa

·         Air Conditioner

·         Aviator

·         Building

·         Camera

·         Computer

·         Duster Renault

·         Electric Installation

·         Hero Honda Passion

·         Hero Honda Delux

·         Land at Palda, Indore

·         Maruti Omni Cargo

·         Mobile

·         Plant and Machinery

·         Swift Dzire

·         Tata 1109 GF

·         Tata 407 Pickup

·         Tata Ace

·         Tata Truck

·         Trump 40 Pickup

·         Furniture and Fixtures

·         Office Equipment

·         Computer

·         Vehicles

·         Printer

 

 

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.63.55

UK Pound

1

Rs.99.10

Euro

1

Rs.68.83

 

 

INFORMATION DETAILS

 

Analysis Done by :

SAN

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

27

 

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.