MIRA INFORM REPORT

Report No. :	324086
Report Date :	30.05.2015

IDENTIFICATION DETAILS

Name :	MITC ROLLING MILLS PRIVATE LIMITED (w.e.f. 14.12.2006)
Formerly Known As :	NEW BOMBEY ISPAT UDYOG PRIVATE LIMITED
Registered Office :	B-2/2 M I D C, Cpalkhed Road, Dindori, Nashik - 422202, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.04.1985
Com. Reg. No.:	11-036042
Capital Investment / Paid-up Capital :	Rs.23.036 Million
CIN No.: [Company Identification No.]	U51420MH1985PTC036042
TAN No.: [Tax Deduction & Collection Account No.]	MUMN09574F
PAN No.: [Permanent Account No.]	AAACN1731C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Steel Iron.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for normal business dealing 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	ICRA
Rating	Long term fund based limits BBB-
Rating Explanation	Have moderate degree of safety and carry moderate credit risk
Date	December, 2014

Rating Agency Name	ICRA
Rating	Short term non fund based limits A3
Rating Explanation	Have moderate degree of safety and carry higher credit risk
Date	December, 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 DENIED BY

Name :	Mr. Atul Shah
Designation :	Director
Contact No.:	91-22-61571234
Date :	27.05.2015

LOCATIONS

Registered Office/ Factory :	B-2/2 M I D C, Cpalkhed Road, Dindori, Nashik - 422202, Maharashtra India
Tel. No.:	91-2557-952557 / 221996 / 221850
Fax No.:	91-2557-221979 / 952557
E-Mail :	mitc_nasik@rediffmail.com mitcsteel@gmail.com
Location :	Owned
Head Office :	Garodia Market, ground Floor, Plot No.8, Dr. Sandhu Marg, Near Parel Hotel, Chembur (East), Mumbai - 400071, Maharashtra, India
Tel. No.:	91-22-61571234
Fax No.:	91-22-61571230
E-Mail :	mitcsteel@gmail.com cmshah@bom3.vsnl.net.in
City Office :	19, Steelyard House, Sant Tukaram Road, Mumbai-400009, Maharashtra, India
Tel No.:	91-22-23433143 / 23421038
Pune Office :	449, Mangalwar Peth, Pune - 411011, Maharashtra, India
Tel No.:	91-20-26126024
Fax No.:	91-20-26121235
E-Mail :	mitc@mtnl.net.in

DIRECTORS

As on 28.06.2014

Name :

Mr. Atul Champshi Shah

Designation :

Director

Address :

A-14, Jayesh, R.B. Mehta Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

28.09.1969

Date of Appointment :

12.06.1999

PAN No.:

AAHPS4343K

DIN No.:

00400466

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	U65993MH1988PTC047066	MITC ROLLING MILLS PRIVATE LIMITED(AMAL)	Director	12/06/1999	12/06/1999	-	Amalgamated	NO
2	U51420MH1985PTC036042	MITC ROLLING MILLS PRIVATE LIMITED	Director	12/06/1999	12/06/1999	-	Active	NO
3	AAA-4163	HOMESHINE PROPERTIES LLP	Designated Partner	21/03/2011	21/03/2011	-	Active	NO

Name :

Champshi Manekji Shah

Designation :

Director

Address :

A-14, Jayesh, R.B. Mehta Road, Ghatkopar (East), Mumbai – 400077, Maharashtra, India

Date of Birth/Age :

16.12.1943

Date of Appointment :

12.06.1999

PAN No.:

AAAHC0393J

DIN No.:

00400338

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	U65993MH1988PTC047066	MITC ROLLING MILLS PRIVATE LIMITED(AMAL)	Director	12/06/1999	12/06/1999	-	Amalgamated	NO
2	U51420MH1985PTC036042	MITC ROLLING MILLS PRIVATE LIMITED	Director	12/06/1999	12/06/1999	-	Active	NO

Name :

Mr. Chetan Damji Lodaya

Designation :

Director

Address :

Yasotaraj Bunglow 1^st Floor Maneshsha Nagar, Near Dwarka Circle, Nasik – 422011, Maharashtra, India

Date of Birth/Age :

07.12.1970

Date of Appointment :

01.12.2004

PAN No.:

ABBPL3773H

DIN No.:

00272236

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	U65993MH1988PTC047066	MITC ROLLING MILLS PRIVATE LIMITED(AMAL)	Director	01/12/2004	01/12/2004	-	Amalgamated	NO
2	U51420MH1985PTC036042	MITC ROLLING MILLS PRIVATE LIMITED	Director	01/12/2004	01/12/2004	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.06.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	8.00
Directors or relatives of Directors	72.83
Other	19.17
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Steel Iron.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
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 :

Not Divulged

Bankers :

Bank Name	Canara Bank
Branch	77, Prabha, R.B. Mehta Road, Ghatkopar East, Mumbai - 400077, Maharashtra, India
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)
Short-term borrowings
Borrowing from government semi-government bodies	48.824	52.804
Total	48.824	52.804

Auditors :
Name :	Sumaria and Sumaria Chartered Accountants
Address :	1, Mulund Vaibhav, Zaver Cross Road, Adjacent To RLY Station, Mulund (West), Mumbai – 400080, Maharashtra, India
Tel. No.:	91-22-65616029
Fax No.:	91-22-65540872
E-Mail :	jsnuria@gmail.com
PAN No:	AAZFS7438M
Memberships :	--
Collaborators :	--
Others Related Parties :	Anchal Distributors Private Limited CIN No.: U51109MH2005PTC218341

CAPITAL STRUCTURE

As on 28.06.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2600000	Equity Shares	Rs.10/- each	Rs.26.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2303631	Equity Shares	Rs.10/- each	Rs.23.036 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	23.036	23.036	23.036
(b) Reserves & Surplus	415.951	371.586	333.739
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.363	0.363	0.363
Total Shareholders’ Funds (1) + (2)	439.350	394.985	357.138
(3) Non-Current Liabilities
(a) long-term borrowings	561.219	461.983	499.071
(b) Deferred tax liabilities (Net)	43.771	41.255	37.927
(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)	604.990	503.238	536.998
(4) Current Liabilities
(a) Short term borrowings	439.382	404.254	189.662
(b) Trade payables	266.751	131.357	91.736
(c) Other current liabilities	57.617	69.056	272.280
(d) Short-term provisions	11.726	10.300	0.000
Total Current Liabilities (4)	775.476	614.967	553.678
TOTAL	1819.816	1513.190	1447.814
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	461.947	485.312	514.643
(ii) Intangible Assets	2.301	2.301	2.301
(iii) Capital work-in-progress	223.968	162.877	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2.365	4.555	4.370
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	4.571	6.763	9.080
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	695.152	661.808	530.394
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	467.001	215.898	210.602
(c) Trade receivables	594.404	509.296	650.302
(d) Cash and cash equivalents	20.110	95.131	7.748
(e) Short-term loans and advances	23.176	18.936	23.656
(f) Other current assets	19.973	12.121	25.112
Total Current Assets	1124.664	851.382	917.420
TOTAL	1819.816	1513.190	1447.814

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
SALES
	Income	5746.600	5158.500	4520.000
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
EXPENSES		NA	NA	NA
PROFIT/(LOSS) BEFORE TAX		58.608	NA	NA
TAX		14.242	NA	NA
PROFIT/(LOSS) AFTER TAX		44.366	37.846	25.835
Earnings Per Share (Rs.)		19.26	16.43	NA

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	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)	(%)	0.77	0.73	0.57
Return on Total Assets (PBT/Total Assets}	(%)	3.68	NA	NA
Return on Investment (ROI) (PBT/Networth)		0.13	NA	NA
Debt Equity Ratio (Total Debt /Networth)		2.28	2.19	1.93
Current Ratio (Current Asset/Current Liability)		1.45	1.38	1.66

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	23.036	23.036	23.036
Reserves & Surplus	333.739	371.586	415.951
Share Application money pending allotment	0.363	0.363	0.363
Net worth	357.138	394.985	439.350
long-term borrowings	499.071	461.983	561.219
Short term borrowings	189.662	404.254	439.382
Total borrowings	688.733	866.237	1000.601
Debt/Equity ratio	1.928	2.193	2.277

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	4520.000	5158.500	5746.600
		14.126	11.401

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	4520.000	5158.500	5746.600
Profit	25.835	37.847	44.366
	0.57%	0.73%	0.77%

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	Yes
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	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 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	Yes
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

Unsecured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from others	144.564	141.389
Intercorporate deposits	333.183	277.390
Loans and advances from related parties	83.472	43.204
Short-term borrowings
Borrowing from government semi-government bodies	390.558	351.450
Total	951.777	813.433

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90223230	26/04/2003 *	9,500,000.00	CANARA BANK	GHATKOPAR EAST, BOMBAY, Maharashtra - 400077, INDIA	-
2	80008597	24/09/2014 *	870,000,000.00	CANARA BANK	BRANCH: 77, PRABHA, R B MEHTA ROAD, GHATKOPAR - E,  MUMBAI, Maharashtra - 400077, INDIA	C34355206
3	90226297	23/05/2000	700,000.00	CANARA BANK	GHATKOPAR EAST, MUMBAI, Maharashtra, INDIA	-
4	80008594	17/08/2006 *	70,000,000.00	THE CANARA BANK LTD	77, PRABHA, RATILAL B. MEHTA MARG,, GHATKOPAR(E),  MUMBAI, Maharashtra - 400077, INDIA	-
5	90240167	12/02/1994 *	2,000,000.00	CANARA BANK	GHATKOPAR EAST, BOMBAY, Maharashtra - 400077, INDIA	-
6	90222424	22/12/1994	27,500,000.00	CANARA BANK	GHATKOPAR EAST BRANCH, BOMBAY, Maharashtra - 400077, INDIA	-
7	90222342	03/06/1994	12,500,000.00	CANARA BANK	GHATKOPAR EAST, BOMBAY, Maharashtra - 400077, INDIA	-
8	90222290	12/02/1994	7,500,000.00	CANARA BANK	GHATKOPAR EAST, BOMBAY, Maharashtra - 400077, INDIA	-
9	90239858	12/02/1994 *	5,000,000.00	CANARA BANK	GHATKOPAR EAST, BOMBAY, Maharashtra - 400077, INDIA	-
10	90222229	14/06/1995 *	5,000,000.00	CANARA BANK	GHATKOPAR EAST, BOMBAY, Maharashtra - 400077, INDIA	-

* Date of charge modification

RESULTS OF OPERATIONS:

This year marks the Twenty Ninth Year of the Company. It is noteworthy to state that this is the 29th consecutive year in which the Company has shown positive results. The Turn Over of the Company has jumped from 5158.500 Million to 5746.600 Million this year. This is the highest Turn Over achieved by the Company till date. For the next year, the Company hopes to maintain year on year growth on Sales.

The Company has also achieved profit of more than 58.600 Million and a cash profit of more than 90.000 Million. With this, the Company’s accumulated reserves have grown to more than 240.000 Million. The Company has embarked on ambitious growth plan in which it is aiming to introduce new technologies. All divisions of the Company, viz Melting, Rolling as well as Casting have grown and contributed towards this growth.

FUTURE EXPANSION:-

The company’s scheme for expansion of the unit at Nasik is in progress as planned and Company’s banker have sanctioned long term loans for meeting the funds requirement. It will definitely move the Company to higher Turn Over, higher Profits and resulting better scenario.

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Computer
• Vehicles
• Furniture and Fixtures

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.61.35
UK Pound	1	Rs.98.93
Euro	1	Rs.77.92

INFORMATION DETAILS

Information Gathered by :	KMN
Analysis Done by :	RSM
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		49

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.