MIRA INFORM REPORT

Report No. :	322615
Report Date :	23.05.2015

IDENTIFICATION DETAILS

Name :	BALAJEE LOHA LIMITED
Formerly Known as	BALAJEE LOHA PRIVATE LIMITED (w.e.f 11.06.2014)
Registered Office :	Bajrang Nagar, Near Agrasen Chowk, Raipur-492001, Chhattisgarh
Tel. No.:	91-771-4017370
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	17.01.1989
Com. Reg. No.:	33-005016
Capital Investment / Paid-up Capital :	Rs.40.700 Million
CIN No.: [Company Identification No.]	U27106CT1989PLC005016
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter, and Supplier of Concrete Plus Angle, Concrete Plus Beam, Concrete Plus Channel, Concrete Plus Flat, MS Channel, Round Bars, Flat, Squares, Plates, Tmt Bars, Angle, Structure, Home, Concrete Plus Squares etc.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 710000
Status :	Satisfactory
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profit margin of the company is very low. However, net worth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal 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 – 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	CRISIL
Rating	Long Term Rating =BBB
Rating Explanation	Moderate degree of safety and carry Moderate credit Risk
Date	24.12.2014

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 (General Details)

Name :	Mr. Ankit Jindal
Designation :	Director
Contact No.:	91-7389913151
Date :	16.05.2015

LOCATIONS

Registered Office :	Bajrang Nagar, Near Agrasen Chowk, Raipur-492001, Chhattisgarh, India
Tel. No.:	91-771-4017370
Mobile No.:	91-7389913151 (Mr. Ankit)
E-Mail :	balajeegroup@yahoo.co.in
Factory :	454 & 436 B, Sector-C, Urla Industrial Area, Raipur-492001, Chhattisgarh, India

DIRECTORS

As on 30.09.2014

Name :

Mr. Suresh Kumar Agarwal

Designation :

Director

Address :

11, Jalashay Marg, Choubey Colony, Raipur-492001, Chhattisgarh, India

Date of Birth/Age :

21.04.1965

Date of Appointment :

17.01.1989

DIN No.:

00182991

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	U27106CT1989PLC005016	BALAJEE LOHA LIMITED	Director	17/01/1989	17/01/1989	-	Active	NO
2	U27106CT2000PLC014067	BALAJEE STRUCTURAL(INDIA) LIMITED	Director	25/02/2000	25/02/2000	-	Active	NO
3	U27106CT1985PLC002989	SHREE HANUMAN LOHA Limited	Director	20/06/2014	20/06/2014	-	Active	NO
4	U85300CT2015NPL001730	Lilawati Devi Bhagwan Das Dharmada Sewa Sansthan	Director	23/04/2015	23/04/2015	-	Active	NO

Name :

Mr. Maman Ram Agarwal

Designation :

Director

Address :

Central Avenue Marge, A-F-4, Choubey Colony, Raipur-492001, Chhattisgarh, India

Date of Birth/Age :

14.05.1960

Date of Appointment :

17.01.1989

DIN No.:

00200162

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	U27106CT1989PLC005016	BALAJEE LOHA LIMITED	Director	17/01/1989	17/01/1989	-	Active	NO
2	U85300CT2015NPL001730	Lilawati Devi Bhagwan Das Dharmada Sewa Sansthan	Director	23/04/2015	23/04/2015	-	Active	NO

Name :

Mr. Ankit Jindal

Designation :

Director

Address :

H. No 11, Jindal House, Choubey Colony, Raipur-492001, Chhattisgarh, India

Date of Birth/Age :

23.02.1991

Date of Appointment :

09.05.2014

DIN No.:

05254156

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	U27104CT2005PTC017569	SETH BANSHIDHAR KEDIA STEEL PRIVATE LIMITED (CHAPTER-IX)	Director	12/04/2012	12/04/2012	-	Active	NO
2	U27106CT1994PTC008616	SHREE HANUMAN METALICS (INDIA) PRIVATE LIMITED	Director	12/04/2012	12/04/2012	-	Active	NO
3	U27106CT1989PLC005016	BALAJEE LOHA LIMITED	Director	09/05/2014	09/05/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Ramdyan Lagde	5000
Chandrika Prasad Nishad	3000
Sahdeo Ram Dhivir	5000
Uday Ram khosre	3500
Shri Ram Vishal Kanoje	3500
Shri Maman Ram Agarwal	89700
Shri Suresh Agarwal	101200
Lilawati Agarwal	2050
Indu Agarwal	3850
B. D Agarwal	1900
Sunita Agarwal	1900
Mohan Lal Agarwal	6900
Saroj Gautam	25000
Pawan Agarwal	10000
J.P Agarwal	5000
Satrudhan Yadav	5000
Shei Ram Sahu	5000
Shri Baher Singh Thakur	5000
Shyamjee Bahi Chawada	5000
Balajee TMT and Ispat Private Limited	300000
Jindal Loha Private Limited	287000
Balajee Realinfra Private Limited	308000
Glorious TIE-UP Private Limited	137500
Wave Promoters Private Limited	800000
Vizcom Solution Private Limited	1950000
Total	4070000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	92.93
Directors or relatives of Directors	4.69
Other top fifty shareholders	2.38
Total	100.00

BUSINESS DETAILS

Line of Business :	Concrete Plus Angle, Concrete Plus Beam, Concrete Plus Channel, Concrete Plus Flat, MS Channel, Round Bars, Flat, Squares, Plates, Tmt Bars, Angle, Structure, Home, Concrete Plus Squares etc.
Products :	TMT Bars Aluminum Grills Power Fabrics
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Advance Payment, Cheque & Credit
Purchasing :	Advance Payment, Cheque & Credit

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

Wholesalers, Retailers, Manufacturer, Distributer,& Dealer

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 :

500 (Approximately)

Bankers :

• Small Industrial Development Bank of India - II Floor, Chawla Complex, Sai Nagar, Raipur-492001, Chhattisgarh, India

• Madhya Pradesh Financial Corporation - Indore, Madhya Pradesh, India

Bank Name	Punjab National Bank
Branch	Main Branch (Raipur)
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
Borrowing	46.101	0.000
Total
Short-term borrowings
Borrowing [Member]
Borrowing	109.014	28.461
Total	155.115	28.461

Auditors :
Name :	R.K Singhania and Associates Chartered Accountants
Address :	205, Samta Colony, Raipur
PAN N Income-tax PAN of auditor or auditor's firm :	AAGFR3093N
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Balajee Structural (India) Ltd.

CAPITAL STRUCTURE

After 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
6,000,000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,270,00	Equity Shares	Rs.10/- each	Rs.52.700 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs.50.00 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4,070,000	Equity Shares	Rs.10/- each	Rs.40.700 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	40.700	16.200	16.200
(b) Reserves & Surplus	210.965	86.972	84.676
(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)	251.665	103.172	100.876
(3) Non-Current Liabilities
(a) long-term borrowings	129.992	113.480	38.222
(b) Deferred tax liabilities (Net)	2.733	0.064	0.086
(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)	132.725	113.544	38.308
(4) Current Liabilities
(a) Short term borrowings	109.014	28.461	38.998
(b) Trade payables	26.101	19.000	23.127
(c) Other current liabilities	128.931	14.024	18.362
(d) Short-term provisions	0.289	0.378	1.174
Total Current Liabilities (4)	264.335	61.863	81.661
TOTAL	648.725	278.579	220.845
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	214.294	9.861	10.850
(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	32.961	56.073	2.418
(e) Other Non-current assets
Total Non-Current Assets	247.255	65.934	13.268
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	164.979	101.640	74.284
(c) Trade receivables	157.603	100.168	105.177
(d) Cash and cash equivalents	9.416	0.693	14.955
(e) Short-term loans and advances	65.525	9.987	13.036
(f) Other current assets	3.947	0.157	0.125
Total Current Assets	401.470	212.645	207.577
TOTAL	648.725	278.579	220.845

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	2000.501	1265.767
		Other Income	93.662	9.048
		TOTAL	2094.163	1274.815
Less	EXPENSES
		Cost of Materials Consumed	1798.674	1235.007
		Purchases of Stock-in-Trade	4.723	3.376
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(11.896)	(25.891)
		Employees benefits expense	17.251	8.099
		Other expenses	243.969	46.515
		TOTAL (B)	2052.721	1267.106
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		41.442	7.709
					NA
Less	FINANCIAL EXPENSES		14.307	2.753
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		27.135	4.956
Less/ Add	DEPRECIATION/ AMORTISATION		23.012	1.609
	PROFIT/(LOSS) BEFORE TAX		4.123	3.347
Less	TAX		2.629	1.051
	PROFIT/(LOSS) AFTER TAX		1.494	2.296
	Earnings / (Loss) Per Share (Rs.)		0.45	1.42

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	129.992	113.480	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.07	0.18	NA
Operating Profit Margin (PBIDT/Sales)	(%)	2.07	0.61	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.64	1.20	0.00
Return on Investment (ROI) (PBT/Networth)		0.02	0.03	0.00
Debt Equity Ratio (Total Debt /Networth)		0.95	1.38	0.77
Current Ratio (Current Asset/Current Liability)		1.52	3.44	2.54

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	16.200	16.200	40.700
Reserves & Surplus	84.676	86.972	210.965
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	100.876	103.172	251.665
long-term borrowings	38.222	113.480	129.992
Short term borrowings	38.998	28.461	109.014
Total borrowings	77.220	141.941	239.006
Debt/Equity ratio	0.765	1.376	0.950

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	1265.767	2000.501
	--------	58.047

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	1265.767	2000.501
Profit	2.296	1.494
	0.18%	0.07%

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	Yes
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	Yes
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 two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last two years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
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

UNSECURED LOAN

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans and Advances From Directors
Borrowing	83.891	113.480
Total	83.891	113.480

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10447589	04/09/2013	59,020,000.00	Small Industries Development Bank of India	II Floor, Chawla Complex,, Sai Nagar,, Raipur,  Chhattisgarh - 492001, INDIA	B84298330
2	10101588	04/06/2013 *	100,000,000.00	PUNJAB NATIONAL BANK	MAIN BRANCH, JAI STAMBH CHOWK, RAIPUR, Chhattisgarh  - 492001, INDIA	B80772056
3	90204761	30/08/1993 *	5,000,000.00	STATE BANK OF INDIA	RAIPUR, RAIPUR, Madhya Pradesh, INDIA	-
4	90207155	14/11/1995 *	5,000,000.00	STATE BANK OF INDIA	RAIPUR, RAIPUR, Madhya Pradesh, INDIA	-
5	90207068	22/01/1990	3,400,000.00	STATE BANK OF INDIA	RAIPUR, RAIPUR, Madhya Pradesh, INDIA	-

FIXED ASSETS

• Plant and machinery
• Land and Building

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.63.57
UK Pound	1	Rs.99.66
Euro	1	Rs.70.92

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	DIV
Report Prepared by :	PJA

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
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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		42

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.