MIRA INFORM REPORT

Report No. :	511331
Report Date :	25.05.2018

IDENTIFICATION DETAILS

Name :	DARTON COMMODITIES LTD.
Registered Office :	ST Thomas Court, 39 Epsom Road, Guildford GU1 3LA
Country :	United Kingdom
Financials (as on) :	31.12.2016
Date of Incorporation :	20.07.2000
Com. Reg. No.:	04037429
Legal Form :	Private Limited with Share Capital
Line of Business :	· Wholesale of metals and metal ores · A group engaged in buying, selling, marketing and distribution of metels and ores and ores. Accounts data converted from US dollar.
No. of Employees :	8 [2016]

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but correct
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.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	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

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; the UK has been a net importer of energy since 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 the UK’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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company Summary

Registered Address

ST Thomas Court
39 Epsom Road
Guildford
GU1 3LA

Trading Address

St. Thomas Court
39 Epsom Road
Guildford
Surrey
GU1 3LA

Website Address http://www.dartoncommodities.co.uk

Company Number 04037429

Telephone Number 01483579825

Fax Number -

TPS No

FPS Yes

Incorporation Date 20/07/2000

Previous Name -

Type Private Limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 22/09/2017

Currency GBP

Share Capital £100,000

SIC07 46720

Charity Number -

SIC07 Description Wholesale of metals and metal ores

Principal Activity A group engaged in buying, selling, marketing and distribution of metels and

ores. and ores. Accounts data converted from US dollar.

Additional Information

CCJ's

0 (£0)

No CCJ Information To Display

Ultimate Holding Company DARTON COMMODITIES LTD.

Accountant -

Mortgages 6

Group 3 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31.12.2016	£29,511,973	£118,287	£1,918,237	8
31.12.2015	£31,004,202	-£507,228	£1,821,816	8
31.12.2014	£46,165,220	£295,758	£2,393,686	8

Mortgage summary

Total Mortgage 6

Outstanding 1

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.

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

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 lower 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 -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Current Directors

Title	Mr	Function	Director
Name	Roy Maxwell Walton	Nationality	British
Date of Birth	07/1963	Present Appointments	6
Latest Address	St Thomas Court, 39 Epsom Road, Guildford, Surrey	Appointment Date	20/07/2000
Post Code	GU1 3LA
Title	Mr	Function	Director
Name	Guy Neville Richard Darby	Nationality	British
Date of Birth	12/1962	Present Appointments	4
Latest Address	St Thomas Court, 39 Epsom Road, Guildford, Surrey	Appointment Date	20/07/2000
Post Code	GU1 3LA

Title	Mrs	Function	Director
Name	Catherine Jane Walton	Nationality	British
Date of Birth	04/1967	Present Appointments	3
Latest Address	St Thomas Court, 39 Epsom Road, Guildford, Surrey	Appointment Date	03/01/2011
Post Code	GU1 3LA
Title	Mrs	Function	Director
Name	Jayne Elizabeth Darby	Nationality	Canadian
Date of Birth	04/1953	Present Appointments	3
Latest Address	St Thomas Court, 39 Epsom Road, Guildford, Surrey	Appointment Date	03/01/2011
Post Code	GU1 3LA

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Roy Maxwell Walton	Nationality	British
Date of Birth	07/1963	Present Appointments	7
Latest Address	St Thomas Court, 39 Epsom Road, Guildford, Surrey	Appointment Date	20/07/2000
Post Code	GU1 3LA

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
R.M. WALTON	USD	375,001	ORDINARY B	0.1	37.5
G.N.R. DARBY	USD	375,001	ORDINARY A	0.1	37.5
AG INTERNATIONAL BV	USD	100,000	ORDINARY E	0.1	10
C.J. WALTON	USD	74,999	ORDINARY C	0.1	7.5
J.E. DARBY	USD	74,999	ORDINARY D	0.1	7.5

Profit & Loss

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	30/06/13	(%)	30/06/12
	Weeks	52	(%)	52	(%)	78	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	Y	(%)	Y	(%)	Y	(%)	Y	(%)	N
	Turnover	£29,511,973	-4.8%	£31,004,202	-32.8%	£46,165,220	115.5%	£21,417,855	-13.1%	£24,649,416
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£28,343,564	-6.5%	£30,325,378	-30.4%	£43,550,276	113.1%	£20,441,008	-15.2%	£24,110,046
	Gross Profit	£1,168,409	72.1%	£678,824	-74%	£2,614,944	167.7%	£976,847	81.1%	£539,370
	Wages & Salaries	£289,299	-13.2%	£333,450	-64.4%	£937,165	143.9%	£384,291	17.5%	£326,924
	Directors Emoluments	£77,092	26.9%	£60,755	-79.3%	£294,139	160.8%	£112,799	62.5%	£69,420
	Operating Profit	£585,606	999.9%	-£30,758	-102.8%	£1,088,500	228.6%	£331,301	999.9%	£2,502
	Depreciation	£17,042	-18%	£20,772	-26.1%	£28,119	165%	£10,613	-37%	£16,853
	Audit Fees	£10,847	-17.4%	£13,124	-1.5%	£13,331	45.2%	£9,183	1.7%	£9,029
	Interest Payments	£467,724	-1.9%	£476,745	-41.2%	£811,025	100.4%	£404,610	-1.5%	£410,756
	Pre Tax Profit	£118,287	123.3%	-£507,228	-271.5%	£295,758	999.9%	-£23,168	93.8%	-£375,796
	Taxation	-£29,590	-151.5%	£57,410	173.4%	-£78,220	-	-	-100%	£64,475
	Profit After Tax	£88,696	119.7%	-£449,818	-306.8%	£217,538	999.9%	-£23,168	92.6%	-£311,322
	Dividends Payable	£125,933	-37.6%	£201,765	-	-	-	-	-	-
	Retained Profit	-£37,237	94.3%	-£651,582	-399.5%	£217,538	999.9%	-£23,168	92.6%	-£311,322

Balance Sheet

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	30/06/13	(%)	30/06/12
	Tangible Assets	£56,971	-13.5%	£65,866	58.5%	£41,555	-16.1%	£49,558	517.6%	£8,024
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£56,971	-13.5%	£65,866	58.5%	£41,555	-16.1%	£49,558	517.7%	£8,024
	Stock	£9,365,442	11.3%	£8,417,790	-31.2%	£12,238,653	252.4%	£3,473,318	12.8%	£3,079,424
	Trade Debtors	£6,747,218	105.9%	£3,277,025	-31.3%	£4,771,205	-27.7%	£6,599,730	42.6%	£4,627,686
	Cash	£51,953	-46.5%	£97,143	-10.8%	£108,847	218.9%	£34,135	-32.1%	£50,301
	Other Debtors	£173,758	-4.9%	£182,694	-49.7%	£363,027	-62.9%	£979,403	-43.8%	£1,741,391
	Miscellaneous Current Assets	£1	-	£1	1.3%	£1	16.9%	£1	8.3%	£1
	Total Current Assets	£16,338,370	36.4%	£11,974,652	-31.5%	£17,481,733	57.7%	£11,086,587	16.7%	£9,498,803
	Trade Creditors	£4,147,187	8.4%	£3,827,106	94%	£1,973,228	21%	£1,630,990	-23.3%	£2,126,751
	Bank Loans & Overdrafts	£8,412,529	103.8%	£4,127,475	-63.3%	£11,247,457	88.8%	£5,957,952	48.1%	£4,022,976
	Other Short Term Finance	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£165,375	6%	£156,007	-50.9%	£317,633	82.9%	£173,705	4.5%	£166,256
	Total Current Liabilities	£12,725,091	56.9%	£8,110,588	-40.1%	£13,538,318	74.4%	£7,762,647	22.9%	£6,315,982
	Bank Loans & Overdrafts and LTL	£10,164,543	63%	£6,235,589	-51.4%	£12,838,741	71.7%	£7,478,036	36.5%	£5,476,524
	Other Long Term Finance	£1,752,014	-16.9%	£2,108,114	32.5%	£1,591,284	4.7%	£1,520,083	4.6%	£1,453,548
	Total Long Term Liabilities	£1,752,014	-16.9%	£2,108,114	32.5%	£1,591,284	4.7%	£1,520,083	4.6%	£1,453,548

Capital & Reserves

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	30/06/13	(%)	30/06/12
	Called Up Share Capital	£77,604	-	£77,604	1.7%	£76,342	17.2%	£65,130	8%	£60,295
	P & L Account Reserve	£1,840,633	5.5%	£1,744,212	-24.7%	£2,317,344	29.6%	£1,788,286	6.6%	£1,677,001
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£1,918,237	5.3%	£1,821,816	-23.9%	£2,393,686	29.1%	£1,853,415	6.7%	£1,737,296

Other Financial Items

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	30/06/13	(%)	30/06/12
	Net Worth	£1,918,237	5.3%	£1,821,816	-23.9%	£2,393,686	29.2%	£1,853,415	6.7%	£1,737,296
	Working Capital	£3,613,280	-6.5%	£3,864,064	-2%	£3,943,415	18.6%	£3,323,940	4.4%	£3,182,821
	Total Assets	£16,395,341	36.2%	£12,040,518	-31.3%	£17,523,288	57.4%	£11,136,146	17.1%	£9,506,827
	Total Liabilities	£14,477,105	41.7%	£10,218,702	-32.5%	£15,129,602	63%	£9,282,730	19.5%	£7,769,530
	Net Assets	£1,918,237	5.3%	£1,821,816	-23.9%	£2,393,686	29.2%	£1,853,415	6.7%	£1,737,296

Cash Flow

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	30/06/13	(%)	30/06/12
	Net Cashflow from Operations	-£3,437,907	-144.6%	£7,711,389	332.7%	-£3,313,807	-180.7%	-£1,180,464	-254.9%	£762,181
	Net Cashflow before Financing	-£3,986,157	-158%	£6,876,333	268.4%	-£4,083,253	-173.9%	-£1,490,860	-615.5%	£289,234
	Net Cashflow from Financing	-	-100%	£574,267	341%	-£238,309	-	-	100%	-£189,328
	Increase in Cash	-£3,986,158	-153.5%	£7,450,600	272.4%	-£4,321,563	-189.9%	-£1,490,860	-999.9%	£99,907

Miscellaneous

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	30/06/13	(%)	30/06/12
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£3,670,251	-6.6%	£3,929,930	-1.4%	£3,984,970	18.1%	£3,373,499	5.7%	£3,190,845
	Number of Employees	8	-	8	-	8	-	8	-	8
	Accountants
	Auditors	WILKINS KENNEDY LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	DEUTSCHE BANK AG
	Bank Branch Code

Ratios

	Date Of Accounts	31/12/16	31/12/15	31/12/14	30/06/13	30/06/12
	Pre-tax profit margin %	0.40	-1.64	0.64	-0.11	-1.52
	Current ratio	1.28	1.48	1.29	1.43	1.50
	Sales/Net Working Capital	8.17	8.02	11.71	6.44	7.74
	Gearing %	529.90	342.30	536.40	403.50	315.20
	Equity in %	11.70	15.10	13.70	16.60	18.30
	Creditor Days	51.15	44.93	23.33	27.71	31.40
	Debtor Days	83.22	38.47	56.42	112.16	68.33
	Liquidity/Acid Test	0.54	0.43	0.38	0.98	1.01
	Return On Capital Employed %	3.22	-12.90	7.42	-0.68	-11.77
	Return On Total Assets Employed %	0.72	-4.21	1.68	-0.20	-3.95
	Current Debt Ratio	6.63	4.45	5.65	4.18	3.63
	Total Debt Ratio	7.54	5.60	6.32	5	4.47
	Stock Turnover Ratio %	31.73	27.15	26.51	16.21	12.49
	Return on Net Assets Employed %	6.16	-27.84	12.35	-1.25	-21.63

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
17/04/2018	Payment Data Update Received
29/09/2017	New Accounts Filed
29/09/2017	New Accounts Filed
01/07/2017	Confirmation Statement
11/05/2017	Payment Data Update Received
19/09/2016	New Accounts Filed
19/09/2016	New Accounts Filed
09/07/2016	Annual Returns
22/09/2015	New Accounts Filed
22/09/2015	New Accounts Filed
10/07/2015	Annual Returns
09/08/2014	Annual Returns
15/03/2014	New Accounts Filed
15/03/2014	New Accounts Filed
09/08/2013	Annual Returns

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	3 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	DARTON COMMODITIES LTD.
Ownership Status	Ultimately Owned
Ultimate Holding Company	DARTON COMMODITIES LTD.

Group StructureFull

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
DARTON COMMODITIES LTD.	04037429	31.12.2016	Y	£29,511,973
DARTON LTD.	04037432	31.12.2016	N
HEADLEY PROPERTIES LTD	07254885	31.12.2016	N

Mortgage Details

Mortgage Type:
Date Charge Created:	18/06/14
Date Charge Registered:	23/06/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BRITISH ARAB COMMERCIAL BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.
Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	24/06/08
Date Charge Registered:	04/07/08
Date Charge Satisfied:	30/06/14
Status:	SATISFIED
Person(s) Entitled:	DBS BANK LIMITED;
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

Mortgage Type:	SECURITY DEED
Date Charge Created:	24/06/08
Date Charge Registered:	04/07/08
Date Charge Satisfied:	30/06/14
Status:	SATISFIED
Person(s) Entitled:	DBS BANK LIMITED;
Amount Secured:
Details:	ASSIGNS AND CHARGES THE CHARGED ASSETS BEING ALL MONEYS AT ANY TIME PAID OR DUEUNDER OR IN RELATION TO ANY CONTRACT FOR THE SALE OF ANY GOODS COMPRISING THE PLEDGED ASSETS, ALL INSURANCE MONEYS AND ALL OR ANY AMOUNTS STANDING TO THE CREDIT OF ANY ACCOUNT OF THE CHARGOR WITH THEBANK SEE IMAGE FOR FULL DETAILS
Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	13/04/05
Date Charge Registered:	20/04/05
Date Charge Satisfied:	30/06/14
Status:	SATISFIED
Person(s) Entitled:	SINGER & FRIEDLANDER LIMITED;
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEED OF PLEDGING OF RECEIVABLES
Date Charge Created:	29/11/00
Date Charge Registered:	06/12/00
Date Charge Satisfied:	16/04/05
Status:	SATISFIED
Person(s) Entitled:	DEUTSCHE BANK AG
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL THE PRESENT AND FUTURE RECEIVABLES OF THE COMPANY FROM THIRD PARTIES WHETHER MADE OUR TO ORDER TO BEARER AS SOON ASTHESE RECEIVABLES BECOME AVAILABLE
Mortgage Type:	DEED OF PLEDGE ON STOCKS
Date Charge Created:	29/11/00
Date Charge Registered:	06/12/00
Date Charge Satisfied:	16/04/05
Status:	SATISFIED
Person(s) Entitled:	DEUTSCHE BANK AG
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL THE PRESENT AND FUTURE PRODUCTION AND TRADE STOCKS OF THE COMPANY INCLUDINGALL STOCKS OF RAW MATERIALS AND SEMI FINISHED PRODUCTS

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
L.C.I. DIRECTORS LIMITED	0			662	2142
L.C.I. SECRETARIES LIMITED	0			698	2312
Total Persons With Significant Control		2	Total Statements			0
Active		2	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Mr Guy Neville Richard Darby	Kind	Individual Person With Significant Control
Address	St Thomas Court, 39 Epsom Road, Guildford, Surrey	Country Of Residence	England
Post Code	GU1 3LA	Nationality	British
Date of Birth	12/1962	Notified On	30/06/2016
Nature Of Control	Ownership of shares - between 25% and 50%
Name	Mr Roy Maxwell Walton	Kind	Individual Person With Significant Control
Address	St Thomas Court, 39 Epsom Road, Guildford, Surrey	Country Of Residence	England
Post Code	GU1 3LA	Nationality	English
Date of Birth	07/1963	Notified On	30/06/2016
Nature Of Control	Ownership of shares - between 25% and 50%

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.39
UK Pound	1	INR 91.44
Euro	1	INR 80.14
GBP	1	INR 91.04

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TPT

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.