MIRA INFORM REPORT

Report No. :	502487
Report Date :	11.04.2018

IDENTIFICATION DETAILS

Name :	CONCAST INFRASTRUCTURE PRIVATE LIMITED (w.e.f.07.08.2012)
Formerly Known As :	CONCAST INFRASTRACTURE PRIVATE LIMITED
Registered Office :	991, EM Bypass, Kolkata – 700046, West Bengal
Tel. No.:	91-33-40232323
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	11.02.2002
Com. Reg. No.:	21- 094216
Capital Investment / Paid-up Capital :	INR 61.440 Million
CIN No.: [Company Identification No.]	U70109WB2002PTC094216
IEC No.: [Import-Export Code No.]	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	19AACCC1875A1ZY
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCC1875A
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the business of Real Estates. [Registered Activity]
No. of Employees :	Information denied by the management

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

Maximum Credit Limit :	USD 880000
Status :	Yet to commence its business operation
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject was incorporated in the year 2002 and it is engaged in real estate activities. The subject has not started its commercial activities. Further management has denied to provide any information. As per available financials record of March 2017, the company has achieved some pre-operating income. The company’s general financial position is reflected by strong net worth base and average debt protection metrics. Payment seems to be unknown. In view of aforesaid, the company can be considered for business dealing 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 11.04.2018

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 DENIED

MANAGEMENT NON-COOPERATIVE (91-33-40232323)

LOCATIONS

Registered Office :	991, EM Bypass, Kolkata – 700046, West Bengal, India
Tel. No.:	91-33-40232323
Fax No.:	Not Available
E-Mail :	allcoroc1@gmail.com

DIRECTORS

AS ON 31.03.2017

Name :

Mr. Kumar Vardhan Patodia

Designation :

Director

Address :

5F/2, New Road , Alipore, Kolkata -700027, West Bengal, India

Date of Birth/Age :

14.02.1984

Qualification:

Graduate

Date of Appointment :

26.04.2012

DIN No.:

00363455

PAN No.:

AIAPP6108J

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U29220WB2018FTC225175	EMCUT EMCO MACHINES INDIA PRIVATE LIMITED	16/03/2018	-
U74900WB2015PTC207328	KPS BOOKALLADS PRIVATE LIMITED	04/08/2015	-
U34103WB1946PTC013096	REGENT MOTORS PVT LTD	30/09/2011	-
U70109WB2011PTC156473	STARLINK PROPERTIES PRIVATE LIMITED	01/01/2011	-
U70109WB2011PTC156478	SIGMA PLAZA PRIVATE LIMITED	01/01/2011	-
U17299WB1995PTC074086	AUTUMN TEXTILES PRIVATE LIMITED	30/09/2011	-
U70109WB2011PTC156480	MIRACLE DEVCON PRIVATE LIMITED	01/01/2011	-
U70109WB2011PTC156474	STARWIN PROPERTIES PRIVATE LIMITED	01/01/2011	-
U70109WB2011PTC156472	REALTIME ENCLAVE PRIVATE LIMITED	01/01/2011	-
U70109WB2011PTC156475	EXPRESS DEVCON PRIVATE LIMITED	30/09/2011	-
U70102WB2011PTC159031	UNIMARK REALTY PRIVATE LIMITED	14/02/2011	-
U70109WB2011PTC156471	IMAGINE PLAZA PRIVATE LIMITED	01/01/2011	-
U70109WB2011PTC156479	OUTLOOK PROMOTERS PRIVATE LIMITED	01/01/2011	-
U70102WB2010PTC151077	RIYA ENCLAVE PRIVATE LIMITED	24/09/2010	-
U45400WB2010PTC148263	AMBEY INFRA REALTY PRIVATE LIMITED	11/01/2012	-
U45400WB2007PTC115694	GOKUL DHAM NIRMAN PRIVATE LIMITED	30/09/2010	-
U52390WB2010PTC143161	DIVERSITY VINIMAY PRIVATE LIMITED	30/09/2013	-
U22222DL2008PTC179957	BATCHBUZZ MEDIA PRIVATE LIMITED	24/06/2008	-
U52390WB2010PTC142015	JAGDISH TIE-UP PRIVATE LIMITED	30/09/2013	-
U45208WB2009PLC137593	HPRP ENCLAVE LIMITED	07/08/2009	-
U51909WB2008PTC130452	DRISHTI AUTO PART ACCESSORIES SALES PRIVATE LIMITED	28/09/2013	-

Name :

Mr. Pradeep Kumar Pugalia

Designation :

Director

Address :

6/1A, Moira Street, Flat-303 Kolkata -700017, West Bengal, India

Date of Birth/Age :

18.07.1975

Qualification:

Graduate

Date of Appointment :

30.09.2017

DIN No.:

00501351

PAN No.:

AIUPP4838M

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U99999WB1981PTC033249	ANKUR CONSTRUCTIONS PVT LTD	29/09/2014	-
U45201WB1988PTC044224	LOKA PROPERTIES PVT LTD	26/02/2018	-
U70200WB1993PTC057546	S J S NIRMAN PVT LTD	05/07/2006	-
U70109WB1993PTC057547	SUMANGAL NIRMAN PVT LTD	30/09/2015	-
U25209WB1998PTC088083	BHAGWATI PLASTOWORKS PRIVATE LIMITED	29/09/2012	-
U52190WB2012PTC176910	RITUDHAN SUPPLIERS PRIVATE LIMITED	30/09/2015	-
U52190WB2012PTC179367	SWAPNO VANIJYA PRIVATE LIMITED	30/09/2014	-
L16003WB2006PLC110039	RDB REALTY & INFRASTRUCTURE LIMITED	01/07/2010	-

MAJOR SHAREHOLDERS

AS ON 31.03.2017

Names of Shareholders	No. of Shares	% of Holding
HPVD Commotrade	6144000	100.00
Total	6144000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2017

Category	Percentage
Public/Other than promoters - Body corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of Real Estates. [Registered Activity]
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 :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

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

No. of Employees :

Information denied by the management

Bankers :

Banker Name :	Not Divulged
Branch :	Not Divulged
Person Name (With Designation) :	--
Contact Number :	--
Name of Account Holder :	--
Account Number :	--
Account Since (Date/Year of Account Opening) :	--
Average Balance Maintained :	--
Credit Facilities Enjoyed (CC/OD/Term Loan) :	--
Account Operation :	--
Remark :	--

Facilities :

(INR In Million)

SECURED LOAN	As on 31.03.2017	As on 31.03.2016
LONG TERM BORROWING
Rupee term loans from others	600.229	0.000
Total	600.229	0.000

Auditors :
Name :	D.N. Gupta and Associates Chartered Accountants
Address :	10, Ganesh Chandra Avenue, 5^th floor, Suite No. 32, Kolkata - 700013, West Bengal, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAGFD7545K
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	INR 10/- each	INR 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6,144,000	Equity Shares	INR 10/- each	INR 61.440 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	61.440	61.440	61.440
(b) Reserves and Surplus	245.365	245.361	245.360
(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)	306.805	306.801	306.800
(3) Non-Current Liabilities
(a) long-term borrowings	600.229	0.000	1581.467
(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)	600.229	0.000	1581.467
(4) Current Liabilities
(a) Short-term borrowings	376.635	120.168	0.000
(b) Trade payables	50.758	50.035	38.890
(c) Other current liabilities	638.225	1307.966	269.875
(d) Short-term provisions	0.002	0.001	0.000
Total Current Liabilities (4)	1065.620	1478.170	308.765
TOTAL	1972.654	1784.971	2197.032
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	27.123	27.234	27.190
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Tangible assets 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	33.421	33.421	33.421
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term loans and advances	0.000	0.000	61.886
(e) Other Non-current assets	0.000	0.169	0.169
Total Non-Current Assets	60.544	60.824	122.666
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1497.607	1387.647	1302.432
(c) Trade receivables	0.000	0.000	36.119
(d) Cash and bank balances	3.306	1.065	2.247
(e) Short-term loans and advances	358.251	288.915	731.359
(f) Other current assets	52.946	46.520	2.209
Total Current Assets	1912.110	1724.147	2074.366
TOTAL	1972.654	1784.971	2197.032

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Total Revenue from operations	0.000	0.000	0.000
	Other Income	0.005	0.002	0.000
	TOTAL	0.005	0.002	0.000
Less	EXPENSES
	Cost of Materials Consumed	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(137.082)	(62.150)	(121.161)
	Employee benefit expense	5.297	7.775	4.899
	Other expenses	88.307	48.514	114.879
	TOTAL	(43.478)	(5.861)	(1.383)
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	43.483	5.863	1.383
Less	FINANCIAL EXPENSES	43.368	5.700	1.342
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.115	0.163	0.041
Less/ Add	DEPRECIATION/ AMORTISATION	0.110	0.161	0.041
	PROFIT/ (LOSS) BEFORE TAX	0.005	0.002	0.000
Less	TAX	0.001	0.001	0.000
	PROFIT/ (LOSS) AFTER TAX	0.004	0.001	0.000
	Earnings / (Loss) Per Share (INR)	0.001	0.00	0.00

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
Cash generated from operations	NA	NA	NA
Net cash flows from (used in) operations	(854.454)	1430.484	(227.655)
Net cash flows from (used in) operating activities	(826.492)	1436.169	(226.330)

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00	0.00	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00	0.00	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.03	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	1.60	0.22	0.05

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.84	0.83	0.86
Debt Equity Ratio (Total Liability / Networth)	3.18	0.39	5.15
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.47	4.82	1.01
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.09	0.09	0.09
Interest Coverage Ratio (PBIT / Financial Charges)	1.00	1.03	1.03

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.00	0.00	0.00
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.00	0.00	0.00
Return on Investment (ROI) ((PAT / Networth) * 100)	%	0.00	0.00	0.00

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.79	1.17	6.72
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.39	0.23	2.50
G-Score Ratio Financial (Networth / Total Assets)	0.16	0.17	0.14
G-Score Ratio Debt (Debts / Equity Capital)	15.90	1.96	25.74
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.79	1.17	6.72

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	61.440	61.440	61.440
Reserves & Surplus	245.360	245.361	245.365
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	306.800	306.801	306.805
Long-term borrowings	1581.467	0.000	600.229
Short term borrowings	0.000	120.168	376.635
Total borrowings	1581.467	120.168	976.864
Debt/Equity ratio	5.155	0.392	3.184

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
Total Income	0.000	0.002	0.005
			150.000

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Total Income	0.000	0.002	0.005
Profit	0.000	0.001	0.004
		50.00%	80.00%

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	No
8	Designation of contact person	No
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	No
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
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

STATE OF COMPANY’S AFFAIRS AND FUTURE OUTLOOK

The Company is engaged in the business of Real Estates. There has been no change in the business of the company during the financial year ended 31st March 2017

UNSECURED LOANS:

(INR In Million)

Particulars	As on 31.03.2017	As on 31.03.2016
SHORT TERM BORROWING
Rupee term loans from others	373.960	120.168
Loans and advances from directors	2.675	0.000
Total	376.635	120.168

INDEX OF CHARGE:

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	G43772672	100093392	CATALYST TRUSTEESHIP LIMITED	31/03/2017	18/04/2017	-	1350000000.0	GDA HOUSE, FIRST FLOOR, PLOT NO. 85S. NO. 94 & 95, BHUSARI COLONY (RIGHT), KOTHRUDPUNEWB700046IN
2	G41174459	10448697	IFCI LIMITED	19/09/2013	-	10/04/2017	1000000000.0	IFCI TOWER61, NEHRU PLACENEW DELHIDL110019IN
3	G40049033	10579453	IFCI VENTURE CAPITAL FUNDS LIMITED	16/04/2015	-	29/03/2017	140000000.0	IFCI TOWER61 NEHRU PLACENEW DELHIDL110019IN
4	B94874005	90248524	STATE BANK OF INDIA	28/02/2004	-	03/01/2014	150000000.0	COMMERCIAL BRANCH24; PARK STREETKOLKATAWB700016IN

FIXED ASSETS:

Tangible assets

• Land
• Furniture and fixtures
• 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 64.94
UK Pound	1	INR 91.75
Euro	1	INR 79.90

INFORMATION DETAILS

Information Gathered by :	AKY
Analysis Done by :	NIS
Report Prepared by :	KVT

SCORE FACTORS

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	NO
--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.