|
|
|
MIRA INFORM REPORT
|
Report No. : |
512385 |
|
Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
EUROPE TRACTOR PARTS S.R.L. |
|
|
|
|
Registered Office : |
Via
Trento, 115/117 Fenili Belasi 25020 - Capriano Del Colle (BS)-IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2017 |
|
|
|
|
Date of Incorporation : |
28.05.1996 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
·
Manufacture of machinery for mining,
quarrying and construction ·
Wholesale of agricultural machinery,
equipment and supplies |
|
|
|
|
No. of Employees : |
From 36 to 50 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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) |
|
Italy |
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 |
ITALY - ECONOMIC OVERVIEW
Italy’s economy compromises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors.
Italy is the third-largest economy in the euro zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 131% of GDP in 2017. Investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era records. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's longstanding structural economic problems, including labor market inefficiencies, a sluggish judicial system, and a weak banking sector. Italy’s economy returned to modest growth in late 2014 for the first time since 2011. In 2015-16, Italy’s economy grew at about 1% each year, and in 2017 growth accelerated to 1.5% of GDP. In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%.
|
Source
: CIA |
company name and address
Europe
Tractor Parts S.r.l.
Via Trento, 115/117 FENILI BELASI
25020 -
Capriano del Colle (BS) -IT-
Summary
|
Fiscal Code |
: |
01936200177 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
28/05/1996 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
from 36 to 50 |
Activity
Manufacture of machinery for mining,
quarrying and construction
Wholesale of agricultural machinery,
equipment and supplies
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 01936200177 |
|
Foreign Trade Reg. no. : BS059839 since
31/05/1996 |
|
Foreign Trade Reg. no. : 059839 of Brescia
since 31/05/1996 |
|
Chamber of Commerce no. : 278978 of Brescia
since 29/05/1984 |
|
Firms' Register : BS029-26709 of Brescia
since 19/02/1996 |
|
V.A.T. Code : 01936200177 |
|
Tribunal Co. Register : 26709 of |
|
Foundation date |
: 10/04/1984 |
|
|
Establishment date |
: 10/04/1984 |
|
|
Start of Activities |
: 28/05/1996 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.000.000 |
|
|
Subscribed Capital |
: 2.000.000 |
|
|
Paid up Capital |
: 2.000.000 |
|
Legal mail : |
INFO@PEC.ETPBONOMI.IT |
Members
|
|
Chiappini |
Domenica |
|
|
Born in Travagliato |
(BS) |
on 24/01/1952 |
- Fiscal Code : CHPDNC52A64L339J |
|
|
Residence: |
Corsica |
, 222 |
- 25100 |
Brescia |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
01/12/2006 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bonomi |
Andrea |
|
|
Born in Brescia |
(BS) |
on 29/01/1947 |
- Fiscal Code : BNMNDR47A29B157B |
|
|
Residence: |
Corsica |
, 222 |
- 25125 |
Brescia |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
04/03/1996 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bonomi |
Mauro |
|
|
Born in Brescia |
(BS) |
on 29/01/1975 |
- Fiscal Code : BNMMRA75A29B157Q |
|
|
Residence: |
Trento |
, 115/117 |
- 25020 |
Capriano del Colle |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
01/12/2006 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bonomi |
Alberto |
|
|
Born in Brescia |
(BS) |
on 30/03/1977 |
- Fiscal Code : BNMLRT77C30B157V |
|
|
Residence: |
Trento |
, 115/117 |
- 25020 |
Capriano del Colle |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
01/12/2006 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bonomi Mauro |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bonomi Alberto |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies
connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Bonomi |
Andrea |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
BONOMI ANDREA |
Castel Mella (BS) - IT - |
BNMNDR47A29B157B |
Proprietor |
Withdrawn |
Registered |
|
Industrie Bml S.r.l. |
Brescia (BS) - IT - |
01485330177 |
Sole Director |
Active |
Registered |
|
I.t.o. S.n.c. Di Sgorbati Giovanluigi EC. |
Brescia (BS) - IT - |
01668900176 |
Partner |
Withdrawn |
Ceased |
The indication "REGISTERED" as Firm
Status could refer to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise
to request further investigations.
Capital
Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Chiappini Domenica |
Brescia - IT - |
CHPDNC52A64L339J |
200.000 .Eur |
10,00 |
|
Bonomi Andrea |
Brescia - IT - |
BNMNDR47A29B157B |
400.000 .Eur |
20,00 |
|
Bonomi Mauro |
BNMMRA75A29B157Q |
700.000 .Eur |
35,00 |
|
|
Bonomi Alberto |
BNMLRT77C30B157V |
700.000 .Eur |
35,00 |
Direct
Participations
The Company under review has no
participations in other Companies.
Firm's
location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
Trento |
, 115/117 |
- 25020 |
- Capriano del Colle |
(BS) |
- IT - |
|
PHONE |
: 0309971623 |
|
FAX |
: 0309971627 |
|
Legal mail |
: INFO@PEC.ETPBONOMI.IT |
|
Employees |
: 47 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
1.440.000 |
Eur |
|
Stocks for a value of 2.330.000 |
Eur |
The firm has a direct commercial organization
Sales area on a regional scale.
Transports are mainly done using own vehicles
and third parties ones
Subject generally proposes terms of sale
between 30 and 60 days.
Subject usually collects by cash order and
drafts.
Purchases are mainly paid with terms of 30/90
days.
Main used payment modalities are by cash
orders and bank transfers.
Historical
Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited partnership |
Limited liability company |
04/03/1996 |
|
Limited partnership |
Limited liability company |
10/05/1996 |
Protests
Protests checking on the subject firm has
given a negative result.
Data
Base Prejudicial Events Search
Search performed on a National Scale
|
|
Prejudicial Events Search
Result: NEGATIVE |
Search performed on a specialized data base.
Legal
Procedures
None reported, standing to the latest
received edition of the Official Publications.
National
Real Estates Survey
The firm under review, by the reported
percentages, owns the following real estates:
|
Town |
Cadastre |
No. Immovables |
Up to Date |
|
CAPRIANO DEL COLLE (BS) |
Buildings |
11 |
28/05/2018 |
|
CAPRIANO DEL COLLE (BS) |
Land |
1 |
28/05/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 109
Piano T |
NCT/1 |
146 |
10 |
cat. C/1 |
5 |
140 mq |
Euro:1.373,78 |
|
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 109
Piano T |
NCT/1 |
146 |
11 |
cat. D/1 |
Euro: 42,00 |
|||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 93
Piano T |
NCT/1 |
146 |
13 |
cat. D/8 |
Euro: 3.340,00 |
|||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 109
Piano T |
NCT/1 |
146 |
14 |
cat. D/8 |
Euro: 8.892,00 |
|||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 109
Piano T |
NCT/1 |
146 |
8 |
cat. F/1 |
||||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 109
Piano T-1 |
NCT/1 |
146 |
9 |
cat. D/8 |
Euro: 13.354,00 |
|||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 115
Piano T-S1 - 1-2 |
NCT/1 |
568 |
9 |
cat. D/7 |
Euro: 53.658,00 |
|||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 113
Piano T |
NCT/1 |
82 |
6 |
cat. F/1 |
1001315 |
|||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 113
Piano T-1 |
NCT/1 |
82 |
701 |
cat. D/7 |
Euro: 8.571,44 |
|||
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 113
Piano 1 |
NCT/1 |
82 |
702 |
cat. A/2 |
3 |
5 vani |
Euro:253,06 |
|
|
B |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) VIA TRENTO, 113
Piano 1 |
NCT/1 |
82 |
703 |
cat. A/2 |
3 |
7,5 vani |
Euro:379,60 |
Land
Details
|
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
|
L |
Proprieta' per 1/1 |
CAPRIANO DEL COLLE (BS) |
1 |
706 |
SEMIN IRRIG |
1 |
5 are 68 ca |
R.D.Euro:4,51 (*) R.A. Euro: 5,57 |
2147 |
All responsibilities are declined regarding any
possible omissions concerning the given results. Therefore, we advise to
request for "Hypothecating Survey Inspection" c/o the locally
competent RR.II. Immovables Registry, as this service doesn't fully guarantees
the actual title of the Real Estates of the requested Subject.
Financial
and Economical Analysis
Subject is active since 1996
Balance sheets for the years 2015, 2016 and
2017 were analyzed.
During the last years, it achieved profits (r.o.e.
14,39% on 2017) with a stable trend in the turnover.
The operating result in 2017 was positive
(13,51%) and in line with the sector's average.
The amount of the operating result for the
year 2017 is of Eur. 2.099.500 showing a fall as opposed to the previous year
(-21,35%).
The gross operating margin of the latest
financial year is of Eur. 2.611.228 on the same levels as the previous
financial year.
The company has an excellent net worth if
compared to its debts, with a low indebtedness (0,21) increasing compared to
last year (0,2)
With regard to equity capital, an amount of
Eur. 9.487.494 is registered. , unchanged as opposed to the preceding year.
In the year 2017 total debts amounted to Eur.
5.045.840 , decreasing if compared to 2016 (-22,49%).
Bank and suppliers credit recourse is
limited, 63,74 gg. is payment average period below the sector's average.
The liquidity level is positive (2,27).
On average trade credits are collected in
48,95 days. , lower than the sector's average.
Eur. 1.876.855 is the value of cash flow
during the year 2017
Subordinate employment cost is of Eur.
2.514.642, i.e. 19,7% on total production costs. , whereas the incidence of
such costs on sales revenues is equal to 18,36%.
The financial management is marked by a high
incidence of financial charges in relation to sales revenues (-1,53%).
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2017 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.699.754 |
|
Profit (Loss) for the period |
1.365.127 |
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.222.521 |
|
Profit (Loss) for the period |
1.877.648 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.803.781 |
|
Profit (Loss) for the period |
1.186.526 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.691.268 |
|
Profit (Loss) for the period |
995.711 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.797.924 |
|
Profit (Loss) for the period |
603.673 |
Balance
Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet as at 31/12/2017 - 12 Mesi
- Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2016 - 12 Mesi
- Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2015 - 12 Mesi
- Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2017 |
as at 31/12/2016 |
as at 31/12/2015 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,43 |
0,40 |
0,44 |
0,18 |
|
Elasticity Ratio |
Units |
0,56 |
0,59 |
0,56 |
0,80 |
|
Availability of stock |
Units |
0,15 |
0,12 |
0,15 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,41 |
0,47 |
0,40 |
0,48 |
|
Quick Ratio |
Units |
0,20 |
0,29 |
0,22 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,21 |
0,20 |
0,47 |
3,25 |
|
Self Financing Ratio |
Units |
0,61 |
0,52 |
0,45 |
0,19 |
|
Capital protection Ratio |
Units |
0,65 |
0,52 |
0,49 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,54 |
0,72 |
0,72 |
0,19 |
|
Financing |
Units |
0,53 |
0,80 |
1,09 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,74 |
0,72 |
0,68 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,19 |
0,23 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,07 |
0,12 |
0,47 |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,71 |
1,80 |
1,55 |
1,75 |
|
Current ratio |
Units |
2,27 |
2,20 |
1,78 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,66 |
1,74 |
1,29 |
0,81 |
|
Structure's primary quotient |
Units |
1,41 |
1,31 |
1,03 |
1,03 |
|
Treasury's primary quotient |
Units |
0,83 |
1,08 |
0,69 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
163,78 |
191,39 |
222,38 |
516,42 |
|
Current Capital ( net ) |
Value |
4.820.883 |
5.043.841 |
3.398.364 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
13,70 |
17,07 |
11,95 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
14,39 |
23,12 |
19,00 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
19,92 |
33,57 |
28,37 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
13,51 |
17,17 |
12,62 |
4,16 |
|
Return/ Sales |
% |
15,33 |
18,77 |
11,84 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
65,02 |
70,33 |
67,68 |
28,57 |
|
Cash Flow |
Value |
1.876.855 |
2.428.214 |
1.768.317 |
122.482 |
|
Operating Profit |
Value |
2.099.500 |
2.669.640 |
1.753.071 |
144.752 |
|
Gross Operating Margin |
Value |
2.611.228 |
3.220.206 |
2.334.862 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
48,95 |
43,59 |
43,43 |
111,85 |
|
Debts to suppliers average term |
Days |
63,74 |
68,26 |
49,71 |
128,30 |
|
Average stock waiting period |
Days |
61,15 |
48,85 |
52,22 |
80,43 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,88 |
0,91 |
1,07 |
1,08 |
|
Rate of stock return |
Units |
5,89 |
7,37 |
6,89 |
4,45 |
|
Labour cost incidence |
% |
18,36 |
16,78 |
16,23 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-1,53 |
0,40 |
-0,03 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
19,70 |
20,22 |
17,62 |
19,02 |
|
Short-term financing charges |
% |
4,58 |
n.c. |
0,60 |
2,68 |
|
Capital on hand |
% |
113,42 |
109,30 |
93,81 |
91,91 |
|
Sales pro employee |
Value |
175.637 |
192.196 |
197.383 |
198.432 |
|
Labour cost pro employee |
Value |
32.239 |
32.258 |
32.030 |
35.779 |
Remarks
1) Protests checking (relative to the last
five years) performed by crossing and matching the members names and the Firm's
Style with the reported addresses, is supplied by the Informatic Registry
managed by the Italian Chamber of Commerce. If the fiscal code is not
indicated, the eventual homonymous cases are submitted to expert staff
evaluation in order to limit wrong matching risks.
2) The Legal Data, supplied and retrived from
the Firm's Registry of the Italian Chamber of Commerce, are in line with the
last registered modifications.
3) Risk evaluation and Credit Opinion have
been performed on the base of the actual data at the moment of their
availability.
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in the region
(in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a base of 1.206
significant companies.
The companies cash their credits on an
average of 112 dd.
The average duration of suppliers debts is
about 128 dd.
The sector's profitability is on an average
of 3,35%.
The labour cost affects the turnover in the measure
of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and
the resources used to realize it is about 1,08.
The employees costs represent the 19,02% of
the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods
of crisis.
The area is statistically considered
moderately risky.
In the region 50.886 protested subjects are
found; in the province they count to 5.551.
The insolvency index for the region is 0,55,
, while for the province it is 0,48.
Total Bankrupt companies in the province :
3.452.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.63 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.20 |
|
EURO |
1 |
INR 78.78 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
POJ |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.