MIRA INFORM REPORT

Report No. :	325248
Report Date :	08.06.2015

IDENTIFICATION DETAILS

Name :	JAYCO SAFETY PRODUCTS PRIVATE LIMITED

Registered Office :	125, Neha Industrial Estate, Opposite Tata Steel, Off. Dattapada Road, Borivali (East), Mumbai – 400 066, Maharashtra
Tel. No.:	91-22-23456395

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	11.06.1997

Com. Reg. No.:	11-108709

Capital Investment / Paid-up Capital :	Rs. 2.500 Million

CIN No.: [Company Identification No.]	U29270MH1997PTC108709

TAN No.: [Tax Deduction & Collection Account No.]	MUMJ05573B

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and Exporters of Safety goods like, Foot protection, Eye wash Safety shower, Body protection suit, Gas detector etc.

No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 36000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. For the financial year 2014, sales turnover of the company has declined over previous year but company has able to maintain profitability margins at 1.61%. However, the company has taken huge external borrowing which has as threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered-for business dealing 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

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 PARTED BY

Name :	Mr. Mehul Jayesh Mehta
Designation :	Director
Contact No.:	91-9833078769
Date :	30.05.2015

LOCATIONS

Registered Office / Corporate Office :	125, Neha Industrial Estate, Opposite Tata Steel, Off. Dattapada Road, Borivali (East), Mumbai – 400 066, Maharashtra, India
Tel. No.:	91-22-23456395 / 23478089 / 28709989 / 28709990
Mobile No.:	91-9833078769 (Mr. Mehul Mehta)
Fax No.:	91-22-28708444 / 23454962
E-Mail :	jaycosafety@yahoo.in info@jaycosafety.com
Website :	http://www.jaycosafety.com

Factory 1 :	734-New GIDC, Gundlav, Dist. Valsad – 396 001, Gujarat, India
Tel. No.:	91-2632-329794
Fax No.:	91-2632-237152
Location :	Owned

Sales Office :	82/84, Masjid Bunder Road, 2^nd Floor, Near Satkar Hotel, Mumbai-400003, Maharashtra, India
Tel. No.:	91-22-23456395 / 23478089

DIRECTORS

As on 30.09.2014

Name :	Mr. Hemant Gulabrai Mehta
Designation :	Managing Director
Address :	E-617, Veena Santoor, Saibaba Nagar, Extension Road, Borivali (West) Mumbai – 400092, Maharashtra, India
Date of Birth/Age :	30.09.1956
Date of Appointment :	11.06.1997
DIN No.:	00687785

Name :	Mr. Jayesh Gulabrai Mehta
Designation :	Director
Address :	D-415, Veena Sarang, Saibaba Extension Road, Borivali (West), Mumbai – 400092, Maharashtra, India
Date of Birth/Age :	11.12.1961
Date of Appointment :	11.06.1997
DIN No.:	00688276

Name :	Mr. Avnesh Gulabrai Mehta
Designation :	Director
Address :	A-304, Veena Sur, Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India
Date of Birth/Age :	25.11.1966
Date of Appointment :	11.06.1997
DIN No.:	00692385

Name :	Mr. Kamlesh Gulabrai Mehta
Designation :	Director
Address :	Flat No. 906, Gaurav Heights, Panchsheel, Enclave, Mahavir Nagar, Mumbai – 400067, Maharashtra, India
Date of Birth/Age :	11.08.1958
Date of Appointment :	11.06.1997
DIN No.:	00692402

Name :	Mr. Sunil Gulabrai Mehta
Designation :	Director
Address :	E-418, Veena Sarang, Borsapad Road, Saibaba Extinction, Road, Borivali (W), Mumbai – 400092, Maharashtra, India
Date of Birth/Age :	03.03.1965
Date of Appointment :	11.06.1997
DIN No.:	01530219

Name :	Mr. Mehul Jayesh Mehta
Designation :	Additional director
Address :	Flat No D/415, Veena Sarang Cooperative Housing Society Limited, Mahavir Nagar, Saibaba Extension Road, Borivali (West) - Mumbai, 400092, Maharashtra, India
Date of Appointment :	23.03.2015
DIN No.:	06935991

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Hement Gulabrai Mehta	46860
Kamlesh Gulabrai Mehta	46560
Jayesh Gulabrai Mehta	46560
Sunil Gulabrai Mehta	46760
Avnesh Gulabrai Mehta	46760
Gulabrai Ratilal Mehta – HUF	100
Kamlesh Gulabrai Mehta HUF	100
Jayesh Gulabrai Mehta HUF	100
Avnesh Gulabrai Mehta HUF	100
Savita Gulabrai Mehta	15100
Nidhi Hemant Mehta	100
Roma Kamlesh Mehta	100
Arti Jayesh Mehta	100
Hemakshi Avnesh Mehta	100
Parina Sunil Mehta	100
Devang Kamlesh Mehta	100
Shikha Kamlesh Mehta	100
Mehul Jayesh Mehta	100
Krunal Jayesh Mehta	100
Sunil Gulabrai Mehta HUF	100
TOTAL	250000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporters of Safety goods like, Foot protection, Eye wash Safety shower, Body protection suit, Gas detector etc.

Products :	Respiratory Dust Mask - Promax Brand Gas Respirator Protection Industrial Safety Hand Gloves – Standard Brand Foot Protection Eye Wash safety Shower and Portable Decontamination Shower Body Protection Suit Disposable Personal Protective Wear Fire Suit Fall Protection and Full Body Harness- Karam Brand Gas Detector Fix Fall Protection Safety Lock Out Tag Out Vertical Rail Runner Fire Extinguisher Eye-Face Protection Traffic and Road Safety

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :
Products:	Foot protection Eye wash Safety shower Body protection suit Gas detector
Country:	Middle East European Country

Imports :
Products:	Raw Material
Country:	European Country China

Terms :
Selling :	Cheque and Credit

Purchasing :	Cheque and Credit

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	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 :

Reference :	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 :

50 (Approximately)

Bankers :

Bank Name	Union Bank of India
Branch	Borivali (West) Branch, 258, Ved Bunglow, S V Road, Borivali (West), Mumbai-400092, Maharashtra, 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 (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Cash and Credit: Rs. 17.500 Million
Account Operation	Not Available
Remarks (If any)	Not Available

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Car loan ICICI bank (Against hypothecation of car. Repayable in 36 EMI, rate of Interest 11.02%)	0.493	0.000
Short-term borrowings
Union Bank of India	13.482	11.799
Total	13.975	11.799

Auditors :
Name :	Hemendra B. Shah and Company Chartered Accountant
Address :	13, Pethewadi, Jambli Gally, Borivali (West), Mumbai – 400092, Maharashtra, India
Tel. No.:	91-22-28982105/28982123
Email:	hbshahco@yahoo.com
PAN N Income-tax PAN of auditor or auditor's firm :	AIUPS1348F

Memberships :	--

Collaborators :	--

Other Related Party :	Jayco Gloves Manufacturing Co Fibro Industries Promex Safety and Fire Services

CAPITAL STRUCTURE

As on 31.03.2014

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

250000	Equity Shares	Rs.10/- each	Rs. 2.500 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	2.500	2.500	2.500
(b) Reserves & Surplus	10.104	8.411	6.709
(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)	12.604	10.911	9.209

(3) Non-Current Liabilities
(a) long-term borrowings	0.493	0.000	0.000
(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)	0.493	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	40.720	35.351	29.896
(b) Trade payables	18.205	16.415	16.396
(c) Other current liabilities	7.584	7.226	7.235
(d) Short-term provisions	0.921	1.587	0.661
Total Current Liabilities (4)	67.430	60.579	54.188

TOTAL	80.527	71.490	63.397

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	12.893	11.246	10.887
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	5.063	2.356	0.991
(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	1.377	2.051	1.299
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	19.333	15.653	13.177

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	21.999	22.463	14.747
(c) Trade receivables	35.561	30.507	32.560
(d) Cash and cash equivalents	2.021	1.953	1.905
(e) Short-term loans and advances	1.613	0.914	1.008
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	61.194	55.837	50.220

TOTAL	80.527	71.490	63.397

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	104.967	110.257	121.637
	Other Income	0.027	0.347	NA
	TOTAL (A)	104.994	110.604	NA

Less	EXPENSES
	Cost of Materials Consumed	10.780	8.010
	Purchases of Stock-in-Trade	59.314	78.169
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.021	(6.920)
	Employees benefits expense	11.633	10.870
	Other expenses	14.316	11.990
	TOTAL (B)	96.064	102.119	NA

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	8.930	8.485

Less	FINANCIAL EXPENSES (D)	5.174	4.687

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	3.756	3.798

Less/ Add	DEPRECIATION/ AMORTISATION (F)	1.309	1.296

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	2.447	2.502

Less	TAX (H)	0.755	0.800

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	1.692	1.702	1.437

	EARNINGS IN FOREIGN CURRENCY
	Exports	0.890	1.805	NA

	IMPORTS
	Trading Goods	3.366	9.133	NA

	Earnings / (Loss) Per Share (Rs.)	6.77	6.81	0.57

Particulars

31.03.2015

Sales Turnover (Approximately)

190.000

The above information has been parted by Mr. Mehul Mehta

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Car Loan ICICI bank

(Against hypothecation of car amount payable in next 12 months)

0.242

0.000

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.61	1.54	NA

Operating Profit Margin (PBIDT/Sales)	(%)	8.51	7.70	NA

Return on Total Assets (PBT/Total Assets}	(%)	3.24	3.62	NA

Return on Investment (ROI) (PBT/Networth)		0.19	0.23	NA

Debt Equity Ratio (Total Debt /Networth)		3.29	3.24	3.25

Current Ratio (Current Asset/Current Liability)		0.91	0.92	0.93

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	2.500	2.500	2.500
Reserves & Surplus	6.709	8.411	10.104
Net worth	9.209	10.911	12.604

long-term borrowings	0.000	0.000	0.493
Short term borrowings	29.896	35.351	40.720
Total borrowings	29.896	35.351	41.213
Debt/Equity ratio	3.246	3.240	3.270

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	121.637	110.257	104.967
		(9.356)	(4.798)

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	121.637	110.257	104.967
Profit	1.437	1.702	1.692
	1.18%	1.54%	1.61%

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)	Yes
16	No. of employees	Yes
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 four 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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office address has been shifted from B-40 Shri Kedarnath Apartment Khanderao Wadi, Simpoli Cross Road Boriwali (West), Mumbai – 400092, Maharashtra, India to the present address w.e.f.15.11.2011.

FINANCIAL RESULTS

The company has earned profit after tax of Rs. 1.692 Million (Previous year Profit of Rs. 1.702 Million) during the year. In order to conserves fund for the future expansion of the company, the directors do not recommend any dividend for the year.

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and Advances From related parties	27.238	23.552
Total	27.238	23.552

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10076142	15/02/2014 *	20,000,000.00	UNION BANK OF INDIA LIMITED	BORIBALI WEST BRANCH, DHARMAKSHETRA CHS, NEAR AMB AMATA TEMPLE, FACTORY LANE, BORIVALI W, MUMBAI, MA HARASHTRA - 400092, INDIA	B98000912
2	10076143	15/02/2014 *	20,000,000.00	UNION BANK OF INDIA LIMITED	BORIBALI WEST BRANCH, DHARMAKSHETRA CHS, NEAR AMB AMATA TEMPLE, FACTORY LANE, BORIVALI W, MUMBAI, MA HARASHTRA - 400092, INDIA	B97940670

* Date of charge modification

FIXED ASSETS

Land
Building
Office Premises
Plant and Machinery
Moulds
Electric Fitting
Furniture and Fixture and Office Equipments
Air Conditioner
Motor Car
Cycle
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.63.90
UK Pound	1	Rs.97.98
Euro	1	Rs.71.82

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	KAR

Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	4
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.

MIRA INFORM REPORT

INDEX OF CHARGES

Unit