MIRA INFORM REPORT

 

 

Report No. :

349186

Report Date :

13.11.2015

 

 IDENTIFICATION DETAILS

 

Name :

 RAMMARUTI TEXTILE PRIVATE LIMITED (w.e.f. 06.05.2005)

 

 

Formerly Known As :

ZAMIR EXPORTS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Gala no 131, 1st Floor, Sanjay Building No. 5-B, Mittal  Industrial Estate, Andheri Kurla Road, Sakinaka, Andheri East,  Mumbai - 400053, Maharashtra

Tel. No.:

91-22-66914466/66949715/16

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.09.1999

 

 

Com. Reg. No.:

11 - 121970

 

 

Capital Investment / Paid-up Capital :

Rs. 15.000 Million

 

 

CIN No.:

[Company Identification No.]

U18101MH1999PTC121970

 

 

IEC No.:

0399061681

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACZ20821D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing and Trading of fabrics and cloth.

 

 

No. of Employees :

40 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1999 having satisfactory track.

 

Turnover and profit of the company has slightly declined during FY 2014. However, net worth base of the company is satisfactory. Liquidity position of the company is fair.

 

General financial position of the company is normal and acceptable for business dealings.

 

The rating further takes into consideration favorable gap between trade payables and trade receivables.

 

Trade relations are reported as fair. Business is active. Payments terms are reported as slow but correct.

 

In view of long track record and acceptable financial base, 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

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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Deepak Naik

Designation :

Accountant

Contact No.:

91-66914466

Date :

10.11.2015

 

 

LOCATIONS

 

Registered Office :

Gala No 131, 1st Floor, Sanjay Building No. 5-B, Mittal  Industrial Estate, Andheri Kurla Road, Sakinaka, Andheri East,  Mumbai - 400053, Maharashtra, India

Tel. No.:

91-22-66914466/66949715/16

Fax No.:

91-22-28595429

E-Mail :

rammaruti27@yahoo.com  

rammaruti27@gmail.com

fabrics@bom4.vsnl.net.in

gravityindia27@gmail.com

Location :

Owned

Locality:

Commercial

 

 

Factory  :

Survey No. 10/1-A, Village Khutali, Khanvel Dudhant Road, Silvassa, Dadra and Nagar Haveli – 396230,

 

 

DIRECTORS

 

As on: 30.09.2014

 

Name :

Mr. Jay Rasiklal Thakkar

Designation :

Whole-Time Director

Address :

F 602, R. P. Road, Mulund, P. D. Subhash Road, Mumbai-400080, Maharashtra, India

Date of Birth/Age :

27.08.1977

Date of Appointment :

30.09.2001

DIN No.:

00348406

 

 

Name :

Mr. Varun Rasiklal Thakkar

Designation :

Whole-Time Director

Address :

F 602, R. P. Road, Mulund, P. D. Subhash Road, Mumbai-400080, Maharashtra, India

Date of Birth/Age :

14.10.1984

Date of Appointment :

14.10.2002

DIN No.:

00894145

 

 

Name :

Mr. Samir Rasiklal Thakkar

Designation :

Whole-Time Director

Address :

F 602, R. P. Road, Mulund, P. D. Subhash Road, Mumbai-400080, Maharashtra, India

Date of Birth/Age :

21.10.1980

Date of Appointment :

15.10.1999

DIN No.:

00905571

 

 

KEY EXECUTIVES

 

Name :

Mr. Deepak Naik

Designation :

Accountant

 

 

Name :

D.A. Kamat and Company

Designation :

Company Secretaries

Address :

A-308, Royal Sands, Link Road, Shastri Nagar, Andheri (W), Mumbai – 400053, Maharashtra, India

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 30.09.2014

 

Names of Shareholders

 

No. of Shares

Jay Thakkar

 

499966

Samir Thakkar

 

501767

Varun Thakkar

 

498267

Total

 

1500000

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in Manufacturing and Trading of fabrics and cloth.

 

 

Products :

Fabrics and Cloth

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit 

 

 

Purchasing :

Cash and Credit 

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Sanathan Textiles Private Limited

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 :

End Users

 

Reference :

Geetika Fashions

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 :

40 (Approximately)

 

 

Bankers :

Bank Name

Bank of Baroda

Branch

Marine Drive Branch, Giri Kunj, 71, Marine Drive, Mumbai - 400020, 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)

Cash/ Credit – Rs. 45.000 Million

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

 

 

From Bank

0.889

1.856

 

 

 

Short-term borrowings

 

 

Cash credit facility from Banks

45.985

43.919

Total

46.874

45.775

Note: Two term Loan from bank of Baroda were taken during the financial year 2011-12 and carry interest @13% p.a.

 

The loan are secured by hypothecation and mortgage/charge on the Plant and Machinery of the company.

 

Four term loan from HDFC Bank have been taken by the company for the purchase of Motor Car over F.Y. 2011-12, FY. 2012-13 and F.Y. 2013-14. They carry interest rates of 16.04%, 13%, 12.72% and 10.98% respectively. The loan is secured against the respective Motor Car

 

Cash Credit from Bank is secured against Stock and Debtors. Further it is secured by Personal and Corporate guarantee by Director and Related Parties. The Cash Credit is repayable on demand and caries interest @ 13.75% p.a.

 

Auditors :

 

Name :

A.R. Sodha and Company

Chartered Accountants

Address :

101, Ashiana, 11th Road T.P.S. III. Opposites B.M.C., Hospital, Santacruz (East), Mumbai-400055, Maharashtra, India

Tel. No.:

91-22-26102465/ 26116901

Fax No.:

91-22-26101228

E-Mail :

ars@arsooha.com

PAN:

AAMFA5312K

 

 

Memberships :

---

 

 

Collaborators :

---

 

 

Enterprises in which KMP and Relative has substantial Interest:
  • Gravity India Limited
  • Gravity Capital and Finance Private Limited
  • Gravity Synthetics Private Limited
  • Gravity Textiles Private Limited
  • Dakshali Synthetics Private Limited
  • Radha Textiles
  • Shivani Textiles
  • Sony Textile Industries
  • Shree Shiva Shiv Textiles
  • Jay Textile

 

 

CAPITAL STRUCTURE

 

As on: 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs. 15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs. 15.000 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

15.000

15.000

10.000

(b) Reserves & Surplus

19.372

16.242

12.903

(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)

34.372

31.242

22.903

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.079

2.076

3.862

(b) Deferred tax liabilities (Net)

3.662

3.373

2.898

(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)

4.741

5.449

6.760

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

45.985

43.919

40.463

(b) Trade payables

40.975

67.615

51.238

(c) Other current liabilities

5.994

3.603

6.790

(d) Short-term provisions

0.178

0.681

0.333

Total Current Liabilities (4)

93.132

115.818

98.824

 

 

 

 

TOTAL

132.245

152.509

128.487

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

29.688

30.501

30.899

(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

0.147

0.147

0.017

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.066

0.056

0.176

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

29.901

30.704

31.092

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

19.303

10.239

8.157

(c) Trade receivables

65.644

94.138

77.316

(d) Cash and cash equivalents

1.766

2.174

1.466

(e) Short-term loans and advances

0.370

0.926

0.868

(f) Other current assets

15.261

14.328

9.588

Total Current Assets

102.344

121.805

97.395

 

 

 

 

TOTAL

132.245

152.509

128.487

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

 

 

 

Other Income

 

 

 

 

 

TOTAL                                    

202.087

213.784

197.759

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                        

197.463

208.659

193.490

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

4.624

5.125

4.269

 

 

 

 

 

Less

TAX                                         

1.494

1.786

1.338

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

3.130

3.339

2.931

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.09

2.50

2.93

 

Particulars

 

 

 

31.03.2015

Sales Turnover

 

 

208.500

 

 

 

 

 

Expected Sales (2015-16): Rs. 220.000 Million

 

The above information has been parted by Mr. Deepak Naik (Accountant)

 

 

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

2.690

3.224

6.744

Cash generated from operations

NA

NA

NA

Net Cash flows from operating activities

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

3.50

3.36

3.32

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.16

0.19

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.45

1.58

2.23

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.10

1.05

0.99

 

 

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

10.000

15.000

15.000

Reserves & Surplus

12.903

16.242

19.372

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

22.903

31.242

34.372

 

 

 

 

long-term borrowings

3.862

2.076

1.079

Short term borrowings

40.463

43.919

45.985

Current maturities of long-term debts

6.744

3.224

2.690

Total borrowings

51.069

49.219

49.754

Debt/Equity ratio

2.230

1.575

1.448

 

 

 

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)

Total Income

197.759

213.784

202.087

 

 

8.103

(5.471)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

197.759

213.784

202.087

Profit

2.931

3.339

3.130

 

1.48%

1.56%

1.55%

 

 

 

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)

No

16

No. of employees

Yes

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

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CORPORATE INFORMATION:

 

The company was incorporated on 28.09.1999 under companies Act. 1956 and is engaged is business on manufacturing and Trading of fabrics and cloth. 

 

 

OPERATIONS:

 

During the year under consideration, the company has made a Profit of Rs. 3.130 Million.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

From NBFC’s

0.190

0.220

 

 

 

Total

0.190

0.220

 

 

INDEX OF CAHREGS:

S. NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10266200

17/01/2011

1,700,000.00

Bank of Baroda

Marine Drive Branch, Giri Kunj, 71, Marine Drive, Mumbai - 400020, Maharashtra, India

B05006887

2

90237510

30/03/2013 *

46,728,000.00

Bank of Baroda

Marine Drive Branch, Giri Kunj, 71, Marine Drive, Mumbai - 400020, Maharashtra, India

B77450252

* Date of charge modification

 

 

FIXED ASSETS:

 

  • Air Condition
  • Computers
  • Electrical Installation
  • Mobile
  • Office
  • Plant and machinery
  • Tempo
  • Motor car
  • Television
  • Trolley
  • Water treatment

 

 

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 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.66.35

UK Pound

1

Rs.100.28

Euro

1

Rs.71.30

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MTN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

4

--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

 

43

 

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.