MIRA INFORM REPORT

 

 

Report No. :

324160

Report Date :

27.05.2015

 

IDENTIFICATION DETAILS

 

Name :

NILKANTH GLAZED PRIVATE LIMITED

 

 

Registered Office :

S. No. 248p1, Opposite Ample Ceramic, Taluka Morbi, Bela Rangpar, Rajkot – 363642, Gujarat

Mobile No.:

91-9712197300 (Mr. Bhavan Varmora)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.11.2010

 

 

Com. Reg. No.:

04-063087

 

 

Capital Investment / Paid-up Capital :

Rs. 26.100 Million

 

 

CIN No.:

[Company Identification No.]

U26933GJ2010PTC063087

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RKTN01479C

 

 

PAN No.:

[Permanent Account No.]

AADCN4529M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Ceramic tiles.

 

 

No. of Employees :

Not divulged

 

 

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The rating reflects company moderate financial risk profile marked by low reserves level, thin profit margin and limited track record of business operations.

 

However, trade relations are reported as 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 – 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 31-03-2014.

 

INFORMATION DENIED BY

 

Name :

Mr. Bhavan Varmora

Designation :

Director

Contact No.:

91-9712197300

Date :

26.05.2015

 

 

LOCATIONS

 

Registered Office :

S. No. 248p1, Opposite Ample Ceramic, Taluka Morbi, Bela Rangpar, Rajkot  – 363642, Gujarat, India

Tel. No.:

Not Available

Mobile No.:

91-9712197300 (Mr. Bhavan Varmora)

Fax No.:

Not Available

E-Mail :

nilkanthglazed@yahoo.com

Website :

www.nilkanthglazed.com

 

 

Factory  : 1

Opposite Akshay CNG Pump, Jetpar Road, At. Bela Morbi, Rajkot  – 363642, Gujarat, India

 

 

Factory : 2

Sr. No. 248/P-1. Opposite Ceramic, Village Bela Rangpar, Morbi, Gujarat, India

 

 

DIRECTORS

 

As on 30.08.2014

 

Name :

Mr. Bhavanbhai Mahadevbhai Varmora

Designation :

Director

Address :

Vivekanand Nagar, Dist. Rajkot, Morbi, 363641, Gujarat, India

Date of Birth/Age :

01.12.1962

Date of Appointment :

30.11.2010

DIN No.:

03292216

 

 

Name :

Mr. Ashok Bhudarbhai Charola

Designation :

Director

Address :

Kayaji Plot 2, Dist. Rajkot, Morbi, 363641, Gujarat, India

Date of Birth/Age :

28.12.1964

Date of Appointment :

25.05.2012

DIN No.:

05290624

 

 

Name :

Mr. Prayagbhai Bhavanbhai Varmora

Designation :

Director

Address :

Sahayog Society-1,, Ravapar Road, Morbi, 363641, Gujarat, India

Date of Birth/Age :

03.09.1989

Date of Appointment :

21.04.2014

DIN No.:

06822332

 

 

Name :

Mr. Rajesh Chaturbhai Bhatia

Designation :

Director

Address :

At. Mahendranagar, Tal. Morbi, Dist. Rajkot, Mahendranagar, 363641, Gujarat, India

Date of Birth/Age :

10.12.1978

Date of Appointment :

21.04.2014

DIN No.:

06822347

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.08.2014

 

Names of Shareholders

 

No. of Shares

Bhavanbh Maiahadevbhai Varmora

 

354400

Pravaqbhbahi Bhavnabhai Varmora

 

450500

Chetanbhai Khimiibha Varmora

 

2500

Maniulaben Bhavanbhi Varmora

 

304800

Ratila Bachubhai Siaradava

 

185000

Bachubhai Diayabhai Saradava

 

20000

Lalitbhai Babubhai Saradava

 

10000

Babula Dayabhi Saradava

 

20000

Dineshbhai Bchubhi saradava

 

198000

Jashumatiben Dineshbhi Saradava

 

25000

Dineshbhai Bhanjibhai Kagathara

 

39150

Vasudevbhai Bhanjibha Kagathara

 

39150

Sangitaben Vasudevbhi Kagathara

 

20000

Dayarambhai Raaimjibh Bhanushali

 

27000

Rajeshbhai Chaturbhai Bhatiya

 

203500

Laxmibhai Mahadevbhai VAroma

 

20000

Hiteshbhai Ranchhodhbhai MArvaniya

 

10000

Dharmishthaben Ratilalbhai Saradava

 

155900

Darshan Laxmanbhai Varmora

 

10000

Ashokbhai Bhudarbhai Charola

 

170000

Ranchodbhai Tapubhai KAchrola

 

100000

Hetal Prayagbhai Varmora

 

35000

Deep NArshibhai Panara

 

90000

Jay Ashokbhai Charola

 

70150

Dharmendra Chaturbhai Bhatiya

 

50000

 

 

 

Total

 

2610050

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.08.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Ceramic tiles.

 

 

Products :
  • Ceramic Tiles
  • Wall Glaze tiles
  • Floor Glaze Tiles

 

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Product :

Finished Goods

Countries :

African countries

 

 

Imports :

 

Product :

Machinery

Countries :

China

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers (As on 31.03.2013) :
  • Airson Enterprises
  • Darbar Transport Company
  • Design Plus Ceramic
  • Divine Enterprises
  • Euro Chemicals
  • GSPC Gas Company Limited
  • Jaydeep Industries
  • King chemical
  • MAruti Hardware
  • Nirav Trading
  • Niyon Graphic and Trading
  • Oil Tech Lubricants Private Limited
  • Om Electric
  • Parmeshwar Electric Store
  • Patel Hydraulicks
  • Pyramid Ceramics
  • Ruby Traders
  • Shree Umiya Private Limited
  • Sinoma Ceramics Private Limited

 

 

Customers (As on 31.03.2013) :
  • Alamdar Sanitary
  • Anwar Agencies
  • Bihar Flooring
  • B.P. Coirala Instituate of Health Science
  • Crystal Trading
  • Deeksha Ceramics
  • Deep Traders
  • Devdoot Tiles and Sanitary
  • Fortune Tiles
  • Ganapati Ceramics
  • Gokul Traders
  • Jan Flooring
  • KApton Enterprises
  • Maruti Sales
  • MAruti Sybdicate
  • New Angle Enterprises
  • Orient Bell Limited
  • Punathi tle Bazar
  • S.K. Ceramics
  • Shree Laxmi Galicha Tiles
  • Universal Sales Depot
  • T.P. Associates
  • Wintel Ceramic

 

 

No. of Employees :

Not Divulged

 

 

Bankers :
  • Small Industries Development Bank of India, 1st Floor, Nirmal 7, Ramkrishnagar Corner, Opposite, Commissioner Bunglow, Off. Yagnik Road, Rajkot – 360001, Gujarat, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

SIDBI Loan A/c. 19103000000842

29.500

33.959

 

 

 

SHORT TERM BORROWING

 

 

Cash credit from IDBI A/c No. 0696658400000170

14.091

18.958

Car loan from Kotak Mahindra Bank Limited

0.265

0.450

Total

43.856

53.367

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

B. B. Kalaria and Company

Chartered Accountants

Address :

123- Shri Hari Commercial Complex, 6 Savsar Plot, Nr. Parth Hospital, Ayodhyapuri Main Road, Morbi – 363641, Gujarat, India

Tel. No.:

91-91-2822230134

Mobile No.:

91-9825130134

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

AANFB6161E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates (As on 31.03.2013) :
  • Nilkanth Packaging Company
  • Nilkanth Corrugated
  • Nilkanth Print Pack
  • Nilkanth Print Zone

 

 

CAPITAL STRUCTURE

 

As on 30.08.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,000,000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,610,050

Equity Shares

Rs.10/- each

Rs. 26.100 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

26.100

26.100

26.100

(b) Reserves & Surplus

6.703

4.047

0.585

(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)

32.803

30.147

26.685

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

29.747

37.095

40.592

(b) Deferred tax liabilities (Net)

0.839

0.965

0.361

(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)

30.586

38.060

40.953

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

14.355

19.408

14.223

(b) Trade payables

25.303

35.752

24.413

(c) Other current liabilities

5.631

12.503

6.084

(d) Short-term provisions

1.125

0.920

0.223

Total Current Liabilities (4)

46.414

68.583

44.943

 

 

 

 

TOTAL

109.803

136.790

112.581

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

41.555

48.699

56.709

(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

2.917

2.876

2.600

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

44.472

51.575

59.309

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

7.867

22.737

12.854

(c) Trade receivables

44.309

45.470

30.855

(d) Cash and cash equivalents

0.632

0.216

4.088

(e) Short-term loans and advances

12.523

16.792

5.437

(f) Other current assets

0.000

0.000

0.038

Total Current Assets

65.331

85.215

53.272

 

 

 

 

TOTAL

109.803

136.790

112.581

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

191.683

180.444

72.097

 

Other Income

2.269

2.030

0.155

 

TOTAL

193.952

182.474

72.252

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

183.657

170.045

67.157

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

10.295

12.429

5.095

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

6.356

7.444

3.926

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

3.939

4.985

1.169

 

 

 

 

 

Less

TAX

1.283

1.523

0.584

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2.656

3.462

0.585

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 1.02

1.33 

0.22 

 

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

3.900

3.900

2.925

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.39

1.92

0.81

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.59

3.64

1.04

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.17

0.04

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.46

2.00

2.16

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.41

1.24

1.19

 

 

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

26.100

26.100

26.100

Reserves & Surplus

0.585

4.047

6.703

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

26.685

30.147

32.803

 

 

 

 

long-term borrowings

40.592

37.095

29.747

Short term borrowings

14.223

19.408

14.355

Current maturities of long-term debts

2.925

3.900

3.900

Total borrowings

57.740

60.403

48.002

Debt/Equity ratio

2.164

2.004

1.463

 

 

 

 

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

72.097

180.444

191.683

 

 

150.279

6.229

 

 

 

 

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

72.097

180.444

191.683

Profit

0.585

3.462

2.656

 

0.81%

1.92%

1.39%

 

 

 

 

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

No

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Directors, shareholder and others

0.246

3.136

 

 

 

Total

0.246

3.136

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10512824

03/09/2014 *

92,700,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

C19268242

* Date of charge modification

 

 

FIXED ASSETS

  • Land
  • Building
  • Machinery
  • Air conditioner
  • Computer
  • Vehicle

 

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.63.84

UK Pound

1

Rs.98.39

Euro

1

Rs.69.64

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

5

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

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

 

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.