Business information report

1. Summary Information

		Country	India
Company Name	D’DECOR HOME FABRICS PRIVATE LIMITED	Principal Name 1	Mr. Virendra Kumar D. Arora
Status	Satisfactory	Principal Name 2	Mr. Ajay V. Arora
		Registration #	11-118945
Street Address	1071, Solitaire Corporate Park Building 10, 167, Guru Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400093, Maharashtra, India
Established Date	16.03.1999	SIC Code	--
Telephone#	91-22-66782000 / 2020	Business Style 1	Manufacturer
Fax #	91-22-66782001 / 2021	Business Style 2	Exporter
Homepage	http://www.ddecor.co.in	Product Name 1	Curtains and upholstery fabric
# of employees	1000 [In Office : 100; In Factory : 900] (Approximately)	Product Name 2	Opusti Fabrics
Paid up capital	Rs. 37500000/-	Product Name 3	Sofa Covers
Shareholders	Directors or relatives of directors – 100%	Banking	Union Bank of India
Public Limited Corp.	NO	Business Period	13 Years
IPO	NO	International Ins.	---
Public Enterprise	NO	Rating	Ba (49)
Related Company
Relation	Country	Company Name	CEO
Associates/Subsidiaries	India	D’Decor Exports	---
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	471,302,000	Current Liabilities	352,106,000
Inventories	392,307,000	Long-term Liabilities	1,363,713,000
Fixed Assets	2,013,870,000	Other Liabilities	--
Deferred Assets	0.000	Total Liabilities	1,715.819
Invest& other Assets	190,000	Retained Earnings	1,124,350,000
		Net Worth	1,161,850,000
Total Assets	2,877,699,000	Total Liab. & Equity	2,877,669,000
Total Assets (Previous Year)	2,703,751,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	2,603,170,000	Net Profit	140,530,000
Sales(Previous yr)	2,459,739,000	Net Profit(Prev.yr)	132,413,000

MIRA INFORM REPORT

Report Date :

06.12.2011

IDENTIFICATION DETAILS

Name :	D’DECOR HOME FABRICS PRIVATE LIMITED
Formerly Known As :	VIRENDER PROCESSORS PRIVATE LIMITED DICITEX DÉCOR PRIVATE LIMITED
Registered Office :	1071, Solitaire Corporate Park Building 10, 167, Guru Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400093, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	16.03.1999
Com. Reg. No.:	11-118945
Capital Investment / Paid-up Capital :	Rs. 37.500 Millions
CIN No.: [Company Identification No.]	U17120MH1999PTC118945
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of curtains and upholstery fabric
No. of Employees :	1000 [In Office : 100; In Factory : 900] (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 4600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. Latest Profit and Loss of the company is not available.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY [Partial Details]

Name :	Mr. Arvind
Designation :	Accounts Department
Contact No.:	91-22-66782020

LOCATIONS

Registered Office :	1071, Solitaire Corporate Park Building 10, 167, Guru Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-66782000 / 2020
Fax No.:	91-22-66782001 / 2021
E-Mail :	sales@ddecor.com goyal@dicitexdecor.com hrd@dicitexdecor.com
Website :	http://www.ddecor.co.in
Corporate Office :	1081/1082, Solitaire Corporate Park - 10 167, Guru Hargovindji Marg, Andheri-Ghatkopar Link Road, Chakala, Andheri East, Mumbai - 400 093, Maharashtra, INDIA
Factory :	Plot No: G-15 / G-7 / E-26 (1), MIDC Tarapur, Boisar – 401506, Dist.-Thane, Maharashtra, INDIA
Tel No.:	91-2525-279384
Fax No.:	91-2525-271991

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Virendra Kumar D. Arora

Designation :

Director

Address :

54 V. K. Cottage, JVPD Scheme, Juhu, Mumbai – 400049, Maharashtra, Indiad

Date of Birth/ Age:

05.04.1939

DIN No.:

00276052

Date of Appointment :

31.07.2000

Name :

Mr. Ajay V. Arora

Designation :

Director

Address :

54 V. K. Cottage, JVPD Scheme, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/ Age:

07.07.1968

DIN No.:

00276143

Date of Appointment :

28.07.1999

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1986PTC039325	D.C.POLYESTER PRIVATE LIMITED	Director	10/10/1988	10/10/1988	-	Active	NO
2	U17120MH1999PTC118945	D'DECOR HOME FABRICS PRIVATE LIMITED	Director	28/07/1999	28/07/1999	-	Active	NO
3	U51398MH2005PTC152046	F N Z JEWELS PRIVATE LIMITED	Director	17/03/2005	17/03/2005	1/9/2009	Active	NO
4	U85110KA1995PLC017694	WORLD RESORTS LIMITED	Director	24/07/2005	24/07/2005	24/01/2011	Active	NO
5	U51311MH2008PTC187390	HOME IDEA UPHOLSTERY PRIVATE LIMITED	Director	8/10/2008	8/10/2008	-	Active	NO

Name :

Mr. Sanjay V. Arora

Designation :

Director

Address :

54 V. K. Cottage, JVPD Scheme, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/ Age:

08.04.1965

DIN No.:

00276271

Date of Appointment :

31.07.2000

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1986PTC039325	D.C.POLYESTER PRIVATE LIMITED	Director	10/10/1988	10/10/1988	-	Active	NO
2	U17120MH1999PTC118945	D'DECOR HOME FABRICS PRIVATE LIMITED	Director	31/07/2000	31/07/2000	-	Active	NO
3	U51311MH2008PTC187390	HOME IDEA UPHOLSTERY PRIVATE LIMITED	Director	8/10/2008	8/10/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Shareholders	No. of Shares
Ajay V. Arora	1221000
Virendra Kumar D. Arora	620000
Sanjay V. Arora	1237500
Neena V. Arora	655000
Simone A. Arora	16500
Total	3750000

Equity Share Breakup (Percentage of Total Equity)

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and exporter of curtains and upholstery fabric
Exports :
Products :	Opusti Fabrics Like – Curtains, Sofa Covers etc
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :

1000 [In Office : 100; In Factory : 900] (Approximately)

Bankers :

• Union Bank of India, Branch Santacruz (West), LA Avante, JN of S. V Road and Main Avenue, Santacruz (West), Mumbai – 400054, Maharashtra, India
• Punjab and Sind Bank
• ICICI Bank

Facilities :

Secured Loan	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Union Bank of India – Term Loan	641.367	599.913
Union Bank of India- FCL	99.089	0.000
Union Bank of India – OD	65.681	117.976
Vehicle Loan	16.063	0.000
Total	822.200	717.889
Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors	226.370	205.458
From Shareholders	102.123	92.280
From Others	213.020	154.335
Total	541.513	452.073

Banking Relations :	--
Auditors :
Name :	Parikh Joshi and Kothare Chartered Accountants
Address :	49/2341, M. H. B. Colony, Gandhi Nagar, Bandra (East), Mumbai – 400051, Maharashtra, India
Tel No.:	91-22-26515396/ 26428494
Fax No.:	91-22-26455867
Email:	prvb@vsnl.com pjk@mtnl.net.in
Associates/Subsidiaries :	D’Decor Exports 1071/1072/1081/1082, Solitare Corporate Park, 10167, Guru Hargovindji Marg, Andheri (E), Mumbai

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Share	Rs.10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Share	Rs.10/- each	Rs. 25.000 Millions
1250000	Equity Share	Rs.10/- each	Rs. 12.500 Millions
	Total		Rs. 37.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		37.500	37.500	37.500
2] Share Application Money		0.000	0.00	0.000
3] Reserves & Surplus		1124.350	983.786	470.548
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1161.850	1021.286	508.048
LOAN FUNDS
1] Secured Loans		822.200	717.889	308.098
2] Unsecured Loans		541.513	452.073	375.589
TOTAL BORROWING		1363.713	1169.962	683.687
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2525.563	2191.248	1191.735
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2013.870	2078.730	1157.557
Capital work-in-progress		0.005	0.000	4.607
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	392.307	299.179	286.981
	Sundry Debtors	264.665	157.219	269.817
	Cash & Bank Balances	1.542	16.782	2.102
	Other Current Assets	190.604	135.797	173.647
	Loans & Advances	14.491	15.822	53.319
Total Current Assets		863.609	624.799	785.866
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	211.505	413.588	583.042
	Other Current Liabilities	35.151	30.745	27.658
	Provisions	105.450	68.170	145.855
Total Current Liabilities		352.106	512.503	756.555
Net Current Assets		511.503	112.296	29.311
MISCELLANEOUS EXPENSES		0.185	0.222	0.260
TOTAL		2525.563	2191.248	1191.735

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	2603.170	2459.739	NA
		Other Income	17.799	109.315	NA
		TOTAL (A)	2620.969	2569.054	NA
Less	EXPENSES
		Raw Material Consumptions	1219.425	1353.259	NA
		Manufacturing/ Trading Expenses	673.765	596.932	NA
		Salaries ands Other Expenses	56.343	43.648	NA
		Administrative Expenses	100.659	62.929	NA
		Selling and Distribution Expenses	29.027	30.516	NA
		Preliminary Expenses	0.037	0.038	NA
		Increase/ Decrease in Stock	[38.043]	[23.182]	NA
		TOTAL (B)	2041.213	2064.140	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		579.756	504.914	NA
Less	FINANCIAL EXPENSES (D)		96.303	107.044	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		483.453	397.870	353.453
Less/ Add	DEPRECIATION/ AMORTISATION (F)		266.763	236.167	219.989
	PROFIT BEFORE TAX (E-F) (G)		216.690	161.703	133.464
Less	TAX (I)		76.160	29.290	38.880
	PROFIT AFTER TAX (G-I) (J)		140.530	132.413	94.584
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		952.355	439.117	344.533
Add/ Less	Short Provision of Tax of Previous years		0.034	[1.485]	--
Add/ less	Change in Depreciation Method (Prior Period)		0.000	382.309	--
	BALANCE CARRIED TO THE B/S		1092.919	952.354	439.117
	IMPORTS
		Raw Materials	NA	72.616	59.378
		Chemical	NA	9.515	6.009
		Consumable, Stores and Spares	NA	19.871	19.194
		Packing Materials	NA	7.703	5.784
		Furniture and Fixtures	NA	0.000	0.448
		Plant and Machinery	NA	372.542	487.300
		Other Expenses	NA	0.108	0.000
	TOTAL IMPORTS		NA	482.355	578.113
	Earnings Per Share (Rs.)		37.47	35.31	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	5.36	5.15	NA
Net Profit Margin (PBT/Sales)	(%)	8.32	6.57	NA
Return on Total Assets (PBT/Total Assets}	(%)	7.53	5.98	6.87
Return on Investment (ROI) (PBT/Networth)		0.19	0.16	0.26
Debt Equity Ratio (Total Liability/Networth)		1.48	1.65	2.83
Current Ratio (Current Asset/Current Liability)		2.45	1.22	1.04

LOCAL AGENCY FURTHER INFORMATION

TRADE REFERENCE

• Omaria Opustic Fabrics Private Limited

Bankers Charges Report as per Registry

Corporate identity number of the company	U17120MH1999PTC118945
Name of the company	D'DECOR Home Fabrics Private Limited
Address of the registered office or of the principal place of business in India of the company	1071, Solitaire Corporate Park, Building No.10, 167, Guru Hargovindji Marg, Chakala, Andheri (E), Mumbai – 400093, Maharashtra, India Goyal@Dicitexdecor.Com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10051860
Type of charge	Book debts Movable property
Particular of charge holder	Union Bank of India Santacruz Branch, “La-Avanti”, Junction fo S. V. Road and Main Avenue, Santacruz (West), Mumbai – 400054
Nature of instrument creating charge	1.Hypothecation (Goods) Agreement(Sd-03) 2.Supplementary Agreement To Sd-06 Hypothecation Agreement 3.Term Loan Agreement 4.Bank Letter For Overall Limits (All The Above Agreement Constitute A Single Charge)
Date of instrument Creating the charge	31.07.2010
Amount secured by the charge	Rs. 1563.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest For Term Loan ROI - Bplr+3.75 % P.A. With Monthly Rests And/Or As Stipulated By Bank From Time To Time. Terms of repayment As Stipulated By Bank From Time To Time. Margin As Stipulated By Bank From Time To Time. Extent of operation of the charge First Charge (Present And Future On All Securities )Total Limit Rs.1563 Millions Others As Stipulated By Bank From Time To Time And As Per Agreement Attached And As Per Sanction Letter Of The Bank
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First Charge (Present And Future On All Securities Mentioned Below)- (1)Hypothecation of Goods / Stock / Inventories / Products Etc Kept At Borrower Place / Premises / Factories / Godown's or Whereeverelse or in Transit Including Raw Material/Goods Imported Under LC and Document of Title of Goods/Raw Material Brought Under L.C. (2) Hypothecation of All Book Debts and Receivables (3)Hypothecation of All The Plant and Machinery Brought Under L.C./Bank Finance ,Installed or not Installed Kept at Borrower Place or in Transit or Whereeverelse (4)Hypothecation of all The Assets Purchased Out of Term Loan And Bank Finance (5)Hyp. of all Current, Movable And Fixed Assets of The Company
Particulars of the present modification	By this modification c.c. limit enhanced to rs.250 Millions and new term loan x of rs.174 Millions has been given and B.G. limit is enhanced to rs.80 Millions, now total limit rs.1563 Millions, security given by original charge as well as by past modification is continued and hypothecation of all the assets purchased out of term loan/bank finance. terms and conditions

FIXED ASSETS

• Lease Hold land
• Building
• Electrical Fittings
• Furniture and Fixture
• Office Equipments
• Computers
• Plant and Machinery
• Vehicles

OVERVIEW

The last eleven years bear testament to the strength of the commitment. From 1999 to 2010, D'Decor has attained exponential growth with the turnover having increased from $ 8 million to $ 130 million.

D'Decor exports home fabrics to 65 countries worldwide. The products are designed by top-class in-house and Italian designers, and are also being used by top designers and furniture-makers in both Europe and USA. The customers include some of the largest international brands such as Kravet, Jab, Romo, Designer’s Guild and Casamance. At D’Decor, they have copyright ownership over more than 10,000 designs. They participate in the 5 biggest international trade fairs annually - Moods, Heimtex, Intertex Shanghai Show, Proposte and Evteks.

D’Decor’s 4 state-of-the-art manufacturing plants are situated at Tarapur, near Mumbai. The output at the plants exceeds a 100, 000 metres a day, thus bringing innovation to more than 1,000 homes a day.

At any given point of time, D’Decor’s supply chain is capable of delivering more than 200,000 SKUs. These are chosen from a large spectrum of products comprising furnishing fabric, embroidered fabric, yarn, ready-mades, velvets and wallpapers.

As a company, D’Decor has accomplished many firsts in the Indian furnishing fabric business. They were the first to introduce water-repellent fabric, flame-retardant fabrics and also to have the first robotic warehouse in India.

D'Decor is a proud employer with a family of more than 3,800 committed employees. After proving the excellence in the international market, they are now focused on the Indian growth story.

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 records 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. 51.39
UK Pound	1	Rs. 80.20
Euro	1	Rs. 68.92

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		49

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
-	NB	New Business	-

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.