MIRA INFORM REPORT

Report No. :	502593
Report Date :	10.04.2018

IDENTIFICATION DETAILS

Name :	L L D DIAMONDS (INDIA) PRIVATE LIMITED
Registered Office :	AE 3040, 'A' Tower, Bharat Diamond Bourse Complex 'G' Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra
Tel. No.:	91-22-40235106
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	03.12.2004
Com. Reg. No.:	11-149803
Capital Investment / Paid-up Capital :	INR 0.500 Million
CIN No.: [Company Identification No.]	U36910MH2004PTC149803
IEC No.: [Import-Export Code No.]	0304084182
GSTN : [Goods & Service Tax Registration No.]	27AABCL0549F1ZQ
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCL0549F
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is engaged in the business of Trading in Diamond and Precious Rough Emerald stones. [Registered activity and also confirmed by management]
No. of Employees :	6 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of LLD Diamonds Ltd (Israel). It is an established company incorporated in the year 2004 having moderate track record. For the financial year ended 2017, the company has witnessed a significant growth in its revenue and reported profit margin at 0.24% (approx.) which has further wiped off accumulated losses of the previous years. The company also derives strength from its holding entity and its experienced management team. However, rating remains constrained on account of small net worth base along with low profit margin and strong competition from organized and un-organized players in diamond industry. Trade relations are reported as fair. Business is active. Payment terms are seems 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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 10.04.2018.

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. Arup Purkait
Designation :	Accounts Manager
Contact No.:	91-22-40235106
Date :	09.04.2018

LOCATIONS

Registered Office :	AE 3040, 'A' Tower, Bharat Diamond Bourse Complex 'G' Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India
Tel. No.:	91-22-40235106 / 107
Fax No.:	91-22-40231644
E-Mail :	apurkit@gmail.com khengar@khengar.co.in
Location :	Rented
Locality :	Commercial

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Khengar Paresh Shah

Designation :

Whole-time Director

Address :

501/502, Rajmala CHSL 87/B, Nepeansea Road, Malabar Hill, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

09.09.1973

Qualification :

B.Com

Date of Appointment :

17.07.2006

DIN No.:

00603194

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U36910MH2004PTC149803	L L D DIAMONDS (INDIA) PRIVATE LIMITED	01/04/2015	-

Name :

Mr. Joseph Theilla

Designation :

Director

Address :

37, Tzapariyah Tzapariyah 60932 IL

Date of Birth/Age :

29.11.1958

Qualification :

Economic Graduate

Date of Appointment :

27.03.2015

DIN No.:

07135348

Name :

Mr. Shay Shmaya Leviev

Designation :

Director

Address :

11, Hamitnahalim Ganey Yahud Savion 56905 IL

Date of Birth/Age :

12.09.1988

Date of Appointment :

27.03.2015

DIN No.:

07135354

KEY EXECUTIVES

Name :	Mr. Arup Purkait
Designation :	Accounts Manager

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares
L.L.D Diamonds Limited, Israel	49999
Yitzak Lavee Pannen Poran	1
Total	50000

AS ON 29.09.2017

Equity Share Break up	Percentage
Category
Promoters - Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the business of Trading in Diamond and Precious Rough Emerald stones. [Registered activity and also confirmed by management]

Products / Services :

Item Code No. (ITC Code)	Product Description
99611541	Cut and Polished Diamonds

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Raw and Polished Diamonds

Countries :

• Israel
• Hong Kong

Imports :

Not Available

Terms :

Selling :

Credit (90, 120 Days)

Purchasing :

Credit (90, 120 Days)

PRODUCTION STATUS – (NOT AVAILABLE)

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

Customers :

Wholesalers and Retailers

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark :	--

No. of Employees :

6 (Approximately)

Bankers :

Bank Name	ICICI Bank Limited
Branch	BKC, Mumbai-400051, Maharashtra, India
Person Name (With Designation)	--
Contact Number	91-22-26531414 (Ringing)
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Bank Name	State Bank of India
Branch	BKC, Mumbai-400051, Maharashtra, India
Person Name (With Designation)	--
Contact Number	91-18004253800
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	Toll free number

Auditor 1 :
Name :	Thacker Sudip Hiralal Chartered Accountant
Address :	315, Churchgate Chambers, 5 New Marine Lines, Mumbai – 400020, Maharashtra, India
PAN No.:	AAAPT6759M
Auditor 2 :	Sudip H. Thadker Chartered Accountant
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	L.L.D Diamonds Limited, Israel

CAPITAL STRUCTURE

AS ON 29.09.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	INR 10/- each	INR 0.500 Million

FINANCIAL DATA

[all figures are INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.500	0.500	0.500
(b) Reserves & Surplus	2.952	(5.245)	(7.962)
(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)	3.452	(4.745)	(7.462)
(3) Non-Current Liabilities
(a) long-term borrowings	8.429	8.862	8.137
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	8.429	8.862	8.137
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	291.429	120.776	68.707
(c) Other current liabilities	10.502	0.318	0.267
(d) Short-term provisions	4.660	0.250	0.000
Total Current Liabilities (4)	306.591	121.344	68.974
TOTAL	318.472	125.461	69.649
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.267	0.208	0.174
(ii) Intangible Assets	0.001	0.001	0.001
(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	9.319	3.837	3.230
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	9.587	4.046	3.405
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	90.956	104.949	60.223
(c) Trade receivables	122.234	12.944	4.817
(d) Cash and cash equivalents	95.483	3.137	0.604
(e) Short-term loans and advances	0.212	0.385	0.600
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	308.885	121.415	66.244
TOTAL	318.472	125.461	69.649

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	3369.804	208.621	21.513
	Other Income	57.062	5.407	0.009
	TOTAL	3426.866	214.028	21.522
Less	EXPENSES
	Purchases of Stock-in-Trade	3349.179	232.586	71.841
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	13.993	(44.726)	(60.183)
	Employees benefits expense	6.810	5.782	3.538
	Other expenses	7.606	8.462	9.472
	TOTAL	3377.588	202.104	24.668
	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	49.278	11.924	(3.146)
Less	FINANCIAL EXPENSES	36.349	8.904	0.762
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	12.929	3.020	(3.908)
Less	DEPRECIATION/ AMORTISATION	0.071	0.053	0.423
	PROFIT/ (LOSS) BEFORE TAX	12.858	2.967	(4.331)
Less	TAX	4.661	0.250	(0.015)
	PROFIT/ (LOSS) AFTER TAX	8.197	2.717	(4.316)
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	1372.637	12.821	12.821
	TOTAL EARNINGS	1372.637	12.821	12.821
	IMPORTS
	Raw Materials	2988.249	0.000	0.000
	TOTAL IMPORTS	2988.249	0.000	0.000
	Earnings / (Loss) Per Share (INR)	163.93	54.34	(86.32)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Net cash flows from (used in) operations	97.593	2.164	NA
Net cash flows from (used in) operating activities	92.932	1.914	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365)	13.24	22.65	81.73
Account Receivables Turnover (Income / Sunday Debtors)	27.57	16.12	4.47
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	31.76	189.54	349.08
Inventory Turnover (Operating Income / Inventories)	0.54	0.11	(0.05)
Asset Turnover (Operating Income / Net Fixed Assets)	183.87	57.05	(17.98)

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.99	1.04	1.11
Debt Equity Ratio (Total Liability / Networth)	2.44	(1.87)	(1.09)
Current Liabilities to Networth (Current Liabilities / Net Worth)	88.82	(25.57)	(9.24)
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.08	(0.04)	(0.02)
Interest Coverage Ratio (PBIT / Financial Charges)	1.36	1.34	(4.13)

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin [(PAT / Sales) * 100]	%	0.24	1.30	(20.06)
Return on Total Assets ((PAT / Total Assets) * 100)	%	2.57	2.17	(6.20)
Return on Investment (ROI) ((PAT / Networth) * 100)	%	237.46	(57.26)	57.84

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.01	1.00	0.96
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.71	0.14	0.09
G-Score Ratio Financial (Networth / Total Assets)	0.01	(0.04)	(0.11)
G-Score Ratio Debt (Debts / Equity Capital)	16.86	17.72	16.27
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.01	1.00	0.96

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	0.500	0.500	0.500
Reserves & Surplus	(7.962)	(5.245)	2.952
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(7.462)	(4.745)	3.452
Long-term borrowings	8.137	8.862	8.429
Short term borrowings	0.000	0.000	0.000
Total borrowings	8.137	8.862	8.429
Debt/Equity ratio	(1.090)	(1.868)	2.442

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	21.513	208.621	3369.804
		869.744	1515.276

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	21.513	208.621	3369.804
Profit / (Loss)	(4.316)	2.717	8.197
	(20.06%)	1.30%	0.24%

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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
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	Yes
35	Negative Reporting by Auditors in the Annual Report	No

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

- Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

- The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

STATE OF COMPANY’S AFFAIRS AND FUTURE OUTLOOK:

The Company is engaged in the business of trading in Diamond and Precious Rough Emerald stones.

UNSECURED LOANS:

PARTICULAR	31.03.2017 INR In Million	31.03.2016 INR In Million
Long-term Borrowings
Term loans from others	8.429	8.862
Total	8.429	8.862

INDEX OF CHARGE: NO CHARGES EXISTS FOR COMPANY

FIXED ASSETS:

• Furniture and Fixture
• Office equipment
• Computer equipments

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	INR
US Dollar	1	INR 64.93
UK Pound	1	INR 91.50
Euro	1	INR 79.69

INFORMATION DETAILS

Information Gathered by :	PON
Analysis Done by :	DIV
Report Prepared by :	BHG

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.