MIRA INFORM REPORT

 

 

Report No. :

325375

Report Date :

03.06.2015

 

IDENTIFICATION DETAILS

 

Name :

TRAVEL OYTSER INDIA PRIVATE LIMITED

 

 

Registered Office :

B-84/1, Okhla Industrial Area II, New Delhi -110020, Delhi

Tel. No.:

91-11-40726666

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.05.1994

 

 

Com. Reg. No.:

55-058871

 

 

Capital Investment / Paid-up Capital :

Rs.1.125 Million

 

 

CIN No.:

[Company Identification No.]

U74899DL1994PTC058871

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELT05516A

 

 

PAN No.:

[Permanent Account No.]

AAACT4880A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Providing Travelling and Tours Services.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 9000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small company established in the year 1994, having moderate track record.

 

Company has recorded moderate increase in its profit during FY 14.

 

However, trade relations are fair. Business is active and payment terms are slow but correct.

 

The company 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

 

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

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

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

INFORMATION DENIED BY

 

Name :

Mr. Mayank

Designation :

Accounts Department

Contact No.:

91-11-40726666

Date :

30.05.2015

 

 

LOCATIONS

 

Registered Office/ Head Office :

B-84/1, Okhla Industrial Area II, New Delhi -110048, Delhi, India

Tel. No.:

91-91-11-40726666

Fax No.:

Not Available

E-Mail :

Sales3@traveloyser.com

rishijaipuria@hotmail.com

 

 

Branch Office :

Jolly Bhawan No.1, 211, 2nd Floor 10, New Marine Lines, Mumbai - 400020, Maharashtra, India

Tel. No.:

91-22-65765525

E-Mail :

Mumbai2@traveloytser.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Abhay Jaipuria

Designation :

Director

Address :

W-97, Greater Kailash Part - 2, New Delhi - 110048, Delhi, India

Date of Birth/Age :

24.02.1961

Date of Appointment :

22.01.1995

DIN No.:

01104125

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

U74899DL1980PTC010242

AJAY AND ABHEY PRIVATE LTD

Director

28/02/1980

28/02/1980

-

Active

NO

2

U70101DL1978PTC009046

PREMASHARM PROPERTIES Private LTD

Director

28/03/1987

28/03/1987

10/04/2008

Active

NO

3

U74899DL1994PTC058871

TRAVEL OYTSER INDIA PRIVATE LIMITED

Director

22/02/1995

22/02/1995

-

Active

NO

4

U70102DL2010PTC201957

Twenty Ten Projects Private Limited

Director

26/04/2010

26/04/2010

-

Active

NO

 

 

Name :

Mr. Rishi Jaipuria

Designation :

Director

Address :

W-97, Greater Kailash Part - 2, New Delhi - 110048, Delhi, India

Date of Birth/Age :

22.12.1973

Date of Appointment :

09.05.1994

DIN No.:

01027783

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

U74899DL1980PTC010242

AJAY AND ABHEY PRIVATE LTD

Director

14/05/1991

14/05/1991

24/02/2009

Active

NO

2

U74899DL1994PTC058871

TRAVEL OYTSER INDIA PRIVATE LIMITED

Director

09/05/1994

09/05/1994

-

Active

NO

3

U74899DL1994PTC059393

LIBRAL TRADERS PRIVATE LIMITED

Director

03/06/1994

03/06/1994

-

Active

NO

 

 

Name :

Mr. Bimal Jhunjhunwala

Designation :

Director

Address :

1003 Pleasant Palace 16, Narain Dhabolkar Road, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

11.10.1943

Date of Appointment :

27.06.1994

DIN No.:

00075673

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

U17100MH1973PTC016634

GALAXY FABRICS PRIVATE LIMITED

Director

28/06/1973

28/06/1973

-

Active

NO

2

U67120MH1980PTC023059

SUNDIAL INVESTMENTS PRIVATE LIMITED

Director

04/09/1980

04/09/1980

-

Active

NO

3

U74899DL1994PTC058871

TRAVEL OYTSER INDIA PRIVATE LIMITED

Director

27/06/1994

27/06/1994

-

Active

NO

4

U51900MH1997PTC109404

SUNBHAKTI TRADING COMPANY PRIVATE LIMITED

Director

02/02/1998

02/02/1998

30/03/2015

Active

NO

5

U51490MH1995PTC094363

CORAL OVERSEAS PRIVATE LIMITED

Director

15/01/2004

15/01/2004

-

Converted to LLP and dissolved

NO

6

L17111RJ1960PLC001171

ADITYA MILLS LTD

Director

05/09/2014

02/09/2005

14/03/2015

Active

NO

7

AAA-3417

JOB SEEKERS HR SERVICES LLP

Designated Partner

17/01/2011

17/01/2011

-

Active

NO

8

AAC-3932

SUNDIAL CORP LLP

Designated Partner

23/06/2014

23/06/2014

-

Active

NO

9

AAD-5584

CORAL OVERSEAS LLP

Designated Partner

17/03/2015

17/03/2015

-

Active

NO

 

 

Name :

Mr. Vivek Jaipuria

Designation :

Director

Address :

W-97, Greater Kailash Part - 2, New Delhi - 110048, Delhi, India

Date of Birth/Age :

09.09.1970

Date of Appointment :

26.05.1994

DIN No.:

01081914

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

U74899DL1994PTC058886

ADBHUT NIRMAN PRIVATE LIMITED

Director

26/05/1994

26/05/1994

-

Active

NO

2

U74899DL1994PTC058871

TRAVEL OYTSER INDIA PRIVATE LIMITED

Director

26/05/1994

26/05/1994

-

Active

NO

3

U74899DL1994PTC059393

LIBRAL TRADERS PRIVATE LIMITED

Director

31/01/1996

31/01/1996

-

Active

NO

4

U74899DL1978PTC009045

SHAKUNTALAM PROPERTIES Private LTD

Director

01/04/2001

01/04/2001

-

Active

NO

5

U33110DL2011PTC212226

KUBER MEDICAL PRIVATE LIMITED

Director

05/01/2011

05/01/2011

-

Active

NO

 

KEY EXECUTIVES

 

Name :

Mr. Mayank

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

Ajay jaipuria

11550

Rishi jaipuri

21500

Abhay jaipuria

19000

Vivek jaipuria

5000

Sudha jaipuria

2000

Suresh Chandra jaipuria

18100

Ramesh Chandra jaipuria

6350

Sumitra Devi

1000

Libral traders private limited, New Delhi

9000

Sudhanshu Jaipuria

14000

Mayank Jaipuria

5000

Total

112500

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

19.12

Directors or relatives of Directors

80.88

 

 

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Providing Travelling and Tours Services.

 

 

Products :

Not Available

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

 Information declined by the management

 

 

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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term Loan

 

 

From Bank

0.048

0.304

 

 

 

Short-term borrowings

 

 

From Bank Overdraft

0.251

0.594

Total

0.298

0.898

                                                                                               

 

Auditors :

 

Name :

Krishan Rakesh and Company

Chartered Accountants

Address :

8/14, Basemetn Kalkaji Extension, New Delhi - 110019, Delhi, India

Tel. No.:

91-11-26222701

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

AAAFK6542P

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200,000

Equity Shares

Rs.10/- each

Rs. 2.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

112,500

Equity Shares

Rs.10/- each

Rs. 1.125 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

1.125

1.125

1.125

(b) Reserves & Surplus

2.034

1.475

1.043

(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)

3.159

2.600

2.168

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.048

0.304

0.683

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

0.048

0.304

0.683

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2.746

2.128

0.469

(b) Trade payables

6.894

2.842

3.412

(c) Other current liabilities

1.773

2.620

3.445

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

11.413

7.590

7.326

 

 

 

 

TOTAL

14.620

10.494

10.177

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3.530

2.942

2.191

(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

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

3.530

2.942

2.191

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

3.776

1.548

1.709

(d) Cash and cash equivalents

5.558

4.443

3.537

(e) Short-term loans and advances

0.879

1.052

2.413

(f) Other current assets

0.877

0.509

0.327

Total Current Assets

11.090

7.552

7.986

 

 

 

 

TOTAL

14.620

10.494

10.177

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

TOTAL

N.A

N.A

N.A

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

N.A

N.A

N.A

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

N.A

N.A

N.A

 

 

 

 

 

Less

TAX

N.A

N.A

N.A

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

0.559

0.432

0.468

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 4.96

 3.84

 4.16

 

 

 

 

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

N.A

N.A

N.A

Cash generated from operations

N.A

N.A

N.A

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

N.A

N.A

N.A

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

N.A

N.A

N.A

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

N.A

N.A

N.A

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

N.A

N.A

N.A

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.88

0.94

0.53

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.97

0.99

1.09

 

 

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

1.125

1.125

1.125

Reserves & Surplus

1.043

1.475

2.034

Net worth

2.168

2.600

3.159

 

 

 

 

long-term borrowings

0.683

0.304

0.048

Short term borrowings

0.469

2.128

2.746

Total borrowings

1.152

2.432

2.794

Debt/Equity ratio

0.531

0.935

0.884

 

 

 

 

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

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

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

No

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 LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

From Related Parties

2.496

1.534

 

 

 

Total

2.496

1.534

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

FIXED ASSETS

  • Furniture and Fixture
  • Cycle
  • Electric fan and Fittings
  • Car
  • Office Equipment
  • Computer

 

 

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.63.83

UK Pound

1

Rs.97.10

Euro

1

Rs.69.74

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYA

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--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

 

29

 

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

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NB

                                       New Business

 

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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.