MIRA INFORM REPORT

Report No. :	349279
Report Date :	07.11.2015

IDENTIFICATION DETAILS

Name :	FLYING TRADE LIMITED
Formerly Known As :	FLYING TRADE FINANCE LIMITED
Registered Office :	Europa House 4 Europa Way, Parkstone, Harwich, CO12 4PT
Country :	United Kingdom
Financials (as on) :	31.12.2013
Date of Incorporation :	08.08.1988
Com. Reg. No.:	02285142
Legal Form :	Private Limited with Share Capital
Line of Business :	Other Retail Sale In Non-Specialised Stores
No. of Employee :	149

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. In 2008, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

Source : CIA

Company Name

FLYING TRADE LIMITED

Company No

02285142

Registered Address

EUROPA HOUSE 4 EUROPA WAY, PARKSTONE, HARWICH, CO12 4PT

Company Summary

Registered Address

EUROPA HOUSE 4 EUROPA WAY
PARKSTONE
HARWICH
CO12 4PT

Trading Address

Europa House 4 Europa Way
Parkstone
Harwich
Essex CO12 4PT
CO12 4PT

Website Address http://www.suryafoods.com

Telephone Number 01255553652

Fax Number

TPS No

FPS No

Incorporation Date 08/08/1988

Previous Name FLYING TRADE FINANCE LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 15/02/1991

Filing Date of Accounts 11/11/2014

Currency GBP

Share Capital £251,000

SIC07 47190

Charity Number -

SIC07 Description OTHER RETAIL SALE IN NON-SPECIALISED STORES

Principal Activity A distributors of foodstuffs.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/12/2013 £70,490,561 £4,313,662 £8,134,423 149

31/12/2012 £62,677,767 £3,133,971 £7,150,833 137

31/12/2011 £61,497,626 £2,871,085 £5,843,789 141

Mortgage Summary

Total Mortgage 8

Outstanding 3

Satisfied 5

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company has been treated as a Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a highly efficient use of assets.

This company has made late payments on a medium percentage of invoices.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

This company trades in an industry with a higher level of corporate failures.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	1	Total Value of Satisfied CCJs -	£6,472
Total Number of Writs -	-

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2

Current Directors

Name	Sukhjit Singh Dulai	Date of Birth	06/08/1966
Officers Title	Mr	Nationality	British
Present Appointments	27	Function	Director
Appointment Date	29/11/1993
Address	Shaftesbury House, Clacton Road, Elmstead Market, Colchester, Essex, CO7 7DB

Name	Harjit Singh Dulai	Date of Birth	23/12/1971
Officers Title	Mr	Nationality	British
Present Appointments	17	Function	Director
Appointment Date	25/05/2010
Address	Shaftesbury House Clacton Road, Elmstead Market, Colchester, Essex, CO7 7DB

Current Company Secretary

Name	Sukhjit Singh Dulai	Date of Birth	06/08/1966
Officers Title	Mr	Nationality	British
Present Appointments	27	Function	Company Secretary
Appointment Date	29/11/1993
Address	Shaftesbury House, Clacton Road, Elmstead Market, Colchester, Essex, CO7 7DB

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
FLYING TRADE GROUP PLC	GBP	251,000	ORDINARY	1	100

Profit & Loss

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£70,490,561	12.5%	£62,677,767	1.9%	£61,497,626	8.6%	£56,605,259	-2.5%	£58,085,981
Export	£4,893,732	-	-	-	-	-	-	-	-
Cost of Sales	£60,529,348	10.4%	£54,845,375	-0.7%	£55,246,537	8.7%	£50,812,450	-2.7%	£52,215,088
Gross Profit	£9,961,213	27.2%	£7,832,392	25.3%	£6,251,089	7.9%	£5,792,809	-1.3%	£5,870,893
Wages & Salaries	£3,417,634	12.4%	£3,039,889	20.8%	£2,516,906	6%	£2,374,856	-8.9%	£2,607,674
Directors Emoluments	-	-100%	£29,600	-29%	£41,667	4.2%	£40,000	11.1%	£36,000
Operating Profit	£4,492,697	35.7%	£3,310,389	8.3%	£3,055,348	20.1%	£2,542,949	-2.1%	£2,597,417
Depreciation	£188,735	-20%	£235,830	44.2%	£163,528	23.5%	£132,402	-20.9%	£167,365
Audit Fees	£18,200	-7.8%	£19,750	16.2%	£16,999	-30.6%	£24,500	2.1%	£24,000
Interest Payments	£201,361	14.1%	£176,418	-4.3%	£184,263	77.7%	£103,687	-21.3%	£131,817
Pre Tax Profit	£4,313,662	37.6%	£3,133,971	9.2%	£2,871,085	17.7%	£2,439,262	-1.1%	£2,465,600
Taxation	-£830,072	-153.9%	-£326,927	33.4%	-£490,519	18.6%	-£602,366	13.4%	-£695,922
Profit After Tax	£3,483,590	24.1%	£2,807,044	17.9%	£2,380,566	29.6%	£1,836,896	3.8%	£1,769,678
Dividends Payable	£2,500,000	66.7%	£1,500,000	-	£1,500,000	-	£1,500,000	66.7%	£900,000
Retained Profit	£983,590	-24.7%	£1,307,044	48.4%	£880,566	161.4%	£336,896	-61.3%	£869,678

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£1,058,817	7.7%	£983,182	30.9%	£751,238	11.8%	£671,762	-14.1%	£781,597
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£1,058,817	7.7%	£983,182	30.9%	£751,238	11.8%	£671,762	-14.1%	£781,597
Stock	£7,859,882	28.3%	£6,125,264	-35.6%	£9,504,742	112.2%	£4,479,632	27.5%	£3,512,390
Trade Debtors	£11,237,733	23.1%	£9,131,634	16.7%	£7,823,256	-7.9%	£8,491,644	8%	£7,859,019
Cash	£812,371	-68.8%	£2,600,930	44.3%	£1,801,920	57.6%	£1,143,583	-66.2%	£3,380,987
Other Debtors	£3,321,075	-17%	£4,001,996	71.7%	£2,330,293	-37.2%	£3,707,754	544.4%	£575,340
Miscellaneous Current Assets	0	-100%	£223	-	0	-	0	-	0
Total Current Assets	£23,231,061	6.3%	£21,860,047	1.9%	£21,460,211	20.4%	£17,822,613	16.3%	£15,327,736
Trade Creditors	£7,200,440	-7.1%	£7,754,339	3.9%	£7,466,306	10.3%	£6,769,297	-9.7%	£7,495,570
Bank Loans & Overdrafts	£5,930,290	10.4%	£5,370,482	-7.1%	£5,781,755	61.9%	£3,570,372	778%	£406,664
Other Short Term Finance	£362,378	-25.6%	£486,894	160.5%	£186,915	-37.2%	£297,857	-59.4%	£734,193
Miscellaneous Current Liabilities	£1,097,156	398.7%	£220,000	-77.2%	£965,667	-5.2%	£1,018,665	32.9%	£766,204
Total Current Liabilities	£14,590,264	5.5%	£13,831,715	-4%	£14,400,643	23.5%	£11,656,191	24%	£9,402,631
Bank Loans & Overdrafts and LTL	£7,495,481	3.7%	£7,231,163	-6.7%	£7,748,772	42.3%	£5,445,334	118.9%	£2,487,039
Other Long Term Finance	£547,513	-11.9%	£621,647	30.8%	£475,411	284.2%	£123,730	324.8%	£29,127
Total Long Term Liabilities	£1,565,191	-15.9%	£1,860,681	-5.4%	£1,967,017	4.9%	£1,874,962	-9.9%	£2,080,375

.

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£251,000	-	£251,000	-	£251,000	-	£251,000	-	£251,000
P & L Account Reserve	£7,883,423	14.3%	£6,899,833	23.4%	£5,592,789	18.7%	£4,712,222	7.7%	£4,375,327
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£8,134,423	13.8%	£7,150,833	22.4%	£5,843,789	17.7%	£4,963,222	7.3%	£4,626,327

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£8,134,423	13.8%	£7,150,833	22.4%	£5,843,789	17.7%	£4,963,222	7.3%	£4,626,327
Working Capital	£8,640,797	7.6%	£8,028,332	13.7%	£7,059,568	14.5%	£6,166,422	4.1%	£5,925,105
Total Assets	£24,289,878	6.3%	£22,843,229	2.8%	£22,211,449	20.1%	£18,494,375	14.8%	£16,109,333
Total Liabilities	£16,155,455	3%	£15,692,396	-4.1%	£16,367,660	21%	£13,531,153	17.8%	£11,483,006
Net Assets	£8,134,423	13.8%	£7,150,833	22.4%	£5,843,789	17.7%	£4,963,222	7.3%	£4,626,327

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	£934,823	-81.7%	£5,098,926	789.9%	£572,951	199.2%	-£577,308	-108.1%	£7,163,209
Net Cashflow before Financing	-£2,171,738	-191.2%	£2,381,449	235.4%	-£1,758,275	40.6%	-£2,960,031	-154.5%	£5,430,155
Net Cashflow from Financing	-£176,629	84.9%	-£1,171,166	-670.7%	£205,229	108.4%	-£2,441,081	-468.5%	£662,469
Increase in Cash	-£2,348,367	-294%	£1,210,283	177.9%	-£1,553,046	71.2%	-£5,401,112	-188.7%	£6,092,624

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£9,699,614	7.6%	£9,011,514	15.4%	£7,810,806	14.2%	£6,838,184	2%	£6,706,702
Number of Employees	149	8.8%	137	-2.8%	141	-11.9%	160	-	-
Accountants
Auditors	GRIFFINS
Auditor Comments	The audit report contains no adverse comments
Bankers	LLOYDS TSB BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	6.12	5	4.67	4.31	4.24
Current ratio	1.59	1.58	1.49	1.53	1.63
Sales/Net Working Capital	8.16	7.81	8.71	9.18	9.80
Gearing %	92.10	101.10	132.60	109.70	53.80
Equity in %	33.50	31.30	26.30	26.80	28.70
Creditor Days	37.18	45.03	44.19	43.52	46.97
Debtor Days	58.02	53.03	46.30	54.60	49.24
Liquidity/Acid Test	1.05	1.13	0.83	1.14	1.25
Return On Capital Employed %	44.47	34.77	36.75	35.67	36.76
Return On Total Assets Employed %	17.75	13.71	12.92	13.18	15.30
Current Debt Ratio	1.79	1.93	2.46	2.34	2.03
Total Debt Ratio	1.98	2.19	2.80	2.72	2.48
Stock Turnover Ratio %	11.15	9.77	15.45	7.91	6.04
Return on Net Assets Employed %	53.02	43.82	49.13	49.14	53.29

Report Notes

There are no notes to display.

Status History

No Status History found

Previous Company Names

Date	Previous Name
15/02/1991	FLYING TRADE FINANCE LIMITED

Writ Details

No writs found

Statistics

Group	7 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	FLYING TRADE GROUP PLC
Ownership Status	Wholly Owned
Ultimate Holding Company	FLYING TRADE GROUP PLC

Group Structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
FLYING TRADE GROUP PLC	02407688	31.12.2013	Y	£78,909,439
FLYING TRADE LIMITED	02285142	31.12.2013	N	£70,490,561
SURYA HOTELS LIMITED	07241976	31.12.2013	N	£6,387,784
GREAT HALLINGBURY EVEN...	07270865	31.12.2013	N	£1,417,976
TOWER BLOCK 13 LIMITED	07633424	31.12.2013	N
FLYING LEISURE LIMITED	07720204	31.07.2013	N
SURYA RICE LIMITED	02929921	31.12.2013	N	£1,562,584

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
20/12/2013	COUNTY COURT MONEY CLAIMS CENTRE	£6,472	Satisfied	3YU13654	06/02/2014

Possible CCJs Details

Possible CCJ matches show CCJs that may be matched to a company based on various criteria such as similar trading names or addresses. This data is provided for your information only as an aid to decision-making and does not affect a company’s rating.

There are no possible CCJ details

Mortgage Details

Mortgage Type:
Date Charge Created:	26/09/14
Date Charge Registered:	16/10/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	RBS INVOICE FINANCE LIMITED;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS NEGATIVEPLEDGE.
Mortgage Type:	GENERAL LETTER OF HYPOTHECATION
Date Charge Created:	03/04/00
Date Charge Registered:	12/04/00
Date Charge Satisfied:	23/07/11
Status:	SATISFIED
Person(s) Entitled:	CANARA BANK
Amount Secured:
Details:	ALL BILLS OF EXCHANGE PROMISSORY NOTES AND NEGOTIABLE INSTRUMENTS OF ANY DESCRIPTIONSEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	CHARGE OVER CREDIT BALANCES
Date Charge Created:	17/02/00
Date Charge Registered:	28/02/00
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	THE SUM OF £50,000 TOGETHER WITH INTEREST ACCRUED NOW OR TO BE HELD BY NATIONALWESTMINSTER BANK PLCON AN ACCOUNT NUMBERED 48079383 AND EARMARKED OR DESIGNATED BY REFERENCE TO THE COMPANY
Mortgage Type:	CHARGE OVER BOOK DEBTS
Date Charge Created:	23/06/99
Date Charge Registered:	02/07/99
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	A SPECIFIC CHARGE OVER THE BENEFIT OF ALL BOOK DEBTS AND OTHER DEBTS AS ARE NOWOR MAY FROM TIME TO TIME BE DUE OR OWING TO THE COMPANY SEE FORM 395 FOR FULL DETAILS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	17/10/91
Date Charge Registered:	23/10/91
Date Charge Satisfied:	25/09/96
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	UNIT 2 HAWTHORNE INDUSTRIAL ESTATE MIDDLEMORE ROAD HANSWORTH WEST MIDLANDS T/NOWM143414
Mortgage Type:	DEBENTURE
Date Charge Created:	31/07/91
Date Charge Registered:	12/08/91
Date Charge Satisfied:	28/11/91
Status:	SATISFIED
Person(s) Entitled:	D.Q.HENRIQUES LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	SEE FORM 395 AND CONTINUATION SHEET RELEVANT TO THIS CHARGE FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITALBUILDINGS FIXTURES FIXED PLANT AND MACHINERY

Mortgage Type:	DEBENTURE
Date Charge Created:	30/05/90
Date Charge Registered:	01/06/90
Date Charge Satisfied:	11/10/91
Status:	SATISFIED
Person(s) Entitled:	KELLOCK LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	(SEE FORM 395 AND CONTINUATION SHEET RELEVANT TO THIS CHARGE). FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY
Mortgage Type:	GENERAL CHARGE ON DEPOSITED DOCUMENTS
Date Charge Created:	21/11/89
Date Charge Registered:	01/12/89
Date Charge Satisfied:	25/09/96
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL BILLS NOTES CHEQUES DOCUMENTS AND INSTRUMENTS WHETHER NEGOTIABLE OR OTHERWISE WHICH MAY FROM TIME TO TIME BE DEPOSITED WITH THE BANK OR WHICH THE BANK MAY HOLD FOR THE CO. FOR WHATEVER PURPOSE ANDPROCEEDS THEREOF

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Kewal Singh Dulai	7	3
Dinesh Patel	0	10
Average Invoice Value		Ł630.44
Invoices available		373
Paid		367
Outstanding		6

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	57	239	59	8	4
Outstanding	1	4	0	0	1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.79
UK Pound	1	Rs.99.95
Euro	1	Rs.71.55

INFORMATION DETAILS

Analysis Done by :	TRI
Report Prepared by :	ASH

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	--

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%)

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.