MIRA INFORM REPORT

Report No. :	311346
Report Date :	10.03.2015

IDENTIFICATION DETAILS

Name :	V-ACCESS (INDIA) PRIVATE LIMITED
Registered Office :	E-102/2, Naraina Vihar, New Delhi - 110028
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	07.05.1996
Com. Reg. No.:	55-078752
Capital Investment / Paid-up Capital :	Rs.11.062 Million
CIN No.: [Company Identification No.]	U17220DL1996PTC078752
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELV02023A
PAN No.: [Permanent Account No.]	AAACV5356K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Carpet Mats For Cars.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 161000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. As per registrar of companies the date of balance sheet i.e. financial filed is shown as 31^st March 2014 but the documents related to the financials for the year 2014 is not available from any source. As per available financial of 2013, the company has performed well and wiped off its losses from the profit earned from its operations. Trade relation seems to be fair. Business is active. Payment terms are reported to be 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 DENIED BY

Name :	Mr. Rajesh Srivastava
Designation :	General Manager
Contact No.:	91-9910395234
Date :	09.03.2015

LOCATIONS

Registered Office :	E-102/2, Naraina Vihar, New Delhi – 110028
Tel. No.:	Not Available
Mobile No.:	91-9910395234 (Mr. Rajesh Srivastava)
Fax No.:	Not Available
E-Mail :	sanjay@v-access.com agupta@vadaininternational.com
Website :	www.v-access.com
Head Office:	E-1224, Phase 1, Extension (Ghatal), RIICO Industrial Area, Bhiwadi – 301019, Rajasthan, India
Tel. No.:	91-1493-222340
Fax No.:	91-1493-223350
Marketing Office:	37-38, Udyog Vihar, Phase IV, Gurgaon, Haryana, India
Tel. No.:	91-124-4015930
Fax No.:	91-124-4061124
E-Mail :	sanjay@v-access.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Sanjay Malik

Designation :

Director

Address :

House No. 125, Sector - 15, Part - I, Gurgaon, 122001, Haryana, India

Date of Birth/Age :

23.07.1971

Date of Appointment :

25.01.2001

DIN No.:

00586438

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	U17220DL1996PTC078752	V-ACCESS (INDIA) PRIVATE LIMITED	Director	25/01/2001	25/01/2001	-	Active	NO
2	U93093DL2005PTC138741	INDIA FITNESS PLAZA PRIVATE LIMITED	Director	15/07/2005	15/07/2005	-	Active	NO
3	U85300DL2007NPL170498	VADAIN SAMPARK	Director	31/08/2008	16/11/2007	-	Active	NO
4	U72900HR2009PTC038988	VConsyst Software Solutions Private Limited	Director	17/04/2009	17/04/2009	-	Active	NO

Name :

Jan Harmen Van Dalfsen

Designation :

Director

Address :

Pottenbakkerstraat 21, Zwolle, 8043 BM, Netherlands, 8043

Date of Birth/Age :

05.11.1970

Date of Appointment :

27.06.2005

DIN No.:

01572188

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	U17220DL1996PTC078752	V-ACCESS (INDIA) PRIVATE LIMITED	Director	27/06/2005	27/06/2005	-	Active	NO
2	U00267DL2005PTC139709	VADAIN INTERNATIONAL HOLDING (INDIA) PRIVATE LIMITED 100% for.sub.co	Director	17/08/2005	17/08/2005	-	Amalgamated	NO
3	U93093DL2005PTC138741	INDIA FITNESS PLAZA PRIVATE LIMITED	Director	29/09/2007	06/12/2006	-	Active	NO
4	U72900HR2009PTC038988	VConsyst Software Solutions Private Limited	Director	17/04/2009	17/04/2009	-	Active	NO

Name :

Arie Jentinus Hoekman

Designation :

Director

Address :

Gans 11, 8281, GN, Genemuiden, 8281, Netherlands

Date of Birth/Age :

13.07.1981

Date of Appointment :

05.10.2007

DIN No.:

01554996

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	U00267DL2005PTC139709	VADAIN INTERNATIONAL HOLDING (INDIA) PRIVATE LIMITED 100% for.sub.co	Director	29/08/2007	03/10/2006	-	Amalgamated	NO
2	U93093DL2005PTC138741	INDIA FITNESS PLAZA PRIVATE LIMITED	Director	05/10/2007	05/10/2007	-	Active	NO
3	U17220DL1996PTC078752	V-ACCESS (INDIA) PRIVATE LIMITED	Director	05/10/2007	05/10/2007	-	Active	NO

Name :

Harm Kolk

Designation :

Director

Address :

Slinger 8, 8281 MB, Genemuiden, Genemuiden, 8281, Netherlands

Date of Birth/Age :

15.01.1970

Date of Appointment :

27.06.2005

DIN No.:

01555043

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	U17220DL1996PTC078752	V-ACCESS (INDIA) PRIVATE LIMITED	Director	27/06/2005	27/06/2005	-	Active	NO
2	U00267DL2005PTC139709	VADAIN INTERNATIONAL HOLDING (INDIA) PRIVATE LIMITED 100% for.sub.co	Director	17/08/2005	17/08/2005	-	Amalgamated	NO

KEY EXECUTIVES

Name :	Mr. Rajesh Srivastava
Designation :	General Manager

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares
Vadain International (India) Holding B.V, The Netherlands	1663636
Vadain Participate B.V, The Netherlands	2435
Sanjay Malik	1
Total	1666072

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	99.99
Directors or relatives of Directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Carpet Mats For Cars.
Products :	Carpet Mats
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	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
Experience :	Not Divulged
Maximum Limit Dealt :	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
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Remark :	Not Divulged

No. of Employees :

Information denied by management

Bankers :

• HDFC Bank Limited
• ABN Amro Bank

Facilities :

SECURED LOANS	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
LONG TERM BORROWINGS
HDFC Car Loan	1.049	1.654
Vadain International (India) Holding B.V.-Euro-267905.66	28.611	27.110
Vadain International (India) Holding B.V.-Euro-500000.00	53.315	50.514
Total	82.975	79.278

Auditors :
Name :	Sudhir Arora and Associates Chartered Accountants
Address :	F-42-42, D.B. Gupta Market, Karol Bagh, New Delhi – 110005, India
Tel. No.:	91-11-23536228/ 23521389
E-Mail :	Sudhirarora2001@yahoo.co.in
PAN No.:	AAFPA0406K
Memberships :	--
Collaborators :	--
Sister Concern :	Not Divulged

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1666072	Equity Shares	Rs.10/- each	Rs.16.661 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1106200	Equity Shares	Rs.10/- each	Rs.11.062 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	11.062	11.062	11.062
(b) Reserves & Surplus	39.227	8.819	-12.652
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	5.915	5.915	5.915
Total Shareholders’ Funds (1) + (2)	56.204	25.796	4.325
(3) Non-Current Liabilities
(a) long-term borrowings	83.179	79.482	69.540
(b) Deferred tax liabilities (Net)	0.000	0.000	0.386
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	4.394	3.473	2.513
Total Non-current Liabilities (3)	87.573	82.955	72.439
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	57.647	55.459	30.982
(c) Other current liabilities	1.274	1.216	0.908
(d) Short-term provisions	3.669	6.610	3.260
Total Current Liabilities (4)	62.590	63.285	35.150
TOTAL	206.367	172.036	111.914
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	34.245	36.676	28.516
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.228	0.445	2.240
(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)	3.392	-0.004	0.000
(d) Long-term Loan and Advances	0.311	0.300	0.300
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	38.176	37.417	31.056
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	33.275	25.734	16.518
(c) Trade receivables	23.203	32.887	16.769
(d) Cash and cash equivalents	4.050	33.213	7.627
(e) Short-term loans and advances	107.663	42.785	39.944
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	168.191	134.619	80.858
TOTAL	206.367	172.036	111.914

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	189.548	204.764	139.204
		Other Income	6.514	2.189	2.217
		TOTAL (A)	196.062	206.953	141.421
Less	EXPENSES
		Cost of Materials Consumed	123.111	130.882	90.662
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(2.018)	(1.147)	(0.067)
		Employee Benefits Expenses	15.878	15.005	11.571
		Other Expenses	18.173	20.248	14.050
		TOTAL (B)	155.144	164.988	116.216
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		40.918	41.965	25.205
Less	FINANCIAL EXPENSES (D)		5.442	9.745	7.319
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		35.476	32.220	17.886
Less	DEPRECIATION/ AMORTISATION (F)		4.795	4.481	2.226
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		30.681	27.739	15.660
Less	TAX (H)		0.273	6.267	4.073
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		30.408	21.472	11.587
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(5.968)	(27.440)	(39.027)
	BALANCE CARRIED TO THE B/S		24.440	(5.968)	(27.440)
	Earnings / (Loss) Per Share (Rs.)		18.25	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	16.04	10.49	8.32
Operating Profit Margin (PBDIT/Sales)	(%)	21.59	20.49	18.11
Return on Total Assets (PBT/Total Assets}	(%)	15.13	16.17	14.28
Return on Investment (ROI) (PBT/Networth)		0.55	1.08	3.62
Debt Equity Ratio (Total Debt /Networth)		1.48	3.08	16.08
Current Ratio (Current Asset/Current Liability)		2.69	2.13	2.30

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	11.062	11.062	11.062
Reserves & Surplus	(12.652)	8.819	39.227
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	5.915	5.915	5.915
Net worth	4.325	25.796	56.204
Long Term borrowings	69.540	79.482	83.179
Short Term borrowings	0.000	0.000	0.000
Total borrowings	69.540	79.482	83.179
Debt/Equity ratio	16.079	3.081	1.480

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	139.204	204.764	189.548
		47.096	(7.431)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	139.204	204.764	189.548
Profit	11.587	21.472	30.408
	8.32%	10.49%	16.04%

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	No
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	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	----------
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Million	31.03.2012 Rs. In Million
LONG TERM BORROWINGS
From Directors and Shareholders
Vadain International (India) Holding B.V.	0.204	0.204
Total	0.204	0.204

CORPORATE INFORMATION:

The Company is engaged in the business of manufacturing of carpet mats for cars. The business is being carried out from its registered office at Nariana Vihar, Delhi office at Udyog Vihar, Gurgaon and works at RIICO Industrial Area, Bhiwadi, Rajasthan, India

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10463045	27/03/2002	14,169,152.00	Vadain International India Holding B.V (formerly V-Access India) Holding B.V.)	Schering 31 - 33 Postbus 88, 8280 AB Genemuiden,  The Netherlands, - 8280, Netherlands	B43384320
2	10463044	30/10/2001	26,381,343.75	Vadain International India Holding B.V (formerly V-Access India) Holding B.V.)	Schering 31 - 33 Postbus 88, 8280 AB Genemuiden,  The Netherlands, - 8280, Netherlands	B43384817
3	90385572	26/03/1999	10,800,000.00	Visscher- Caravelle Europe N.V.	Genemuiden, Netherlands, , Netherlands	-
4	90369257	26/03/1999	10,800,000.00	Riico	Indl Area, Bhiwadi, Bhiwadi, Rajasthan, India	-

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.62
UK Pound	1	Rs.94.39
Euro	1	Rs.67.96

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUM
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.