MIRA INFORM REPORT

Report Date :

16.11.2011

IDENTIFICATION DETAILS

Name :	E-PACK POLYMERS PRIVATE LIMITED
Registered Office :	2584, Rohtagi Mansion, 2^nd Floor, Hamilton Road, Kashmere Gate, Delhi – 110 006
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	12.02.1999
Com. Reg. No.:	55-98374
Capital Investment / Paid-up Capital :	Rs.38.754 millions
CIN No.: [Company Identification No.]	U74999DL1999PTC098374
IEC No.:	0599025425
TAN No.: [Tax Deduction & Collection Account No.]	DELE01935D/ DELE01934C
PAN No.: [Permanent Account No.]	AAACE5175D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of EPS Packaging, Telecom Shelters, Pre-Fabricated Structure, Cold Chain Solution, Rooting and Cladding Sheets, EPS Sheets, EPS Packaging, EPS Pallets.
No. of Employees :	350 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 830000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Financial position of the company appears to be sound. Trade relations are fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for business dealings at usual trade terms and conditions.

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

Name :	Mr. Umesh
Designation :	Account Executive
Contact No.:	91-120-2569078
Date :	10.11.2011

LOCATIONS

Registered Office :	2584, Rohtagi Mansion, 2^nd Floor, Hamilton Road, Kashmere Gate, Delhi – 110 006, India
Tel. No.:	91-11-23916862 / 23974876
Mobile No.:	91-9958593021 (Mr. Sanjay Singhania)
Fax No.:	91-11-23953687
E-Mail :	sanjay@epackpolymers.com ajay@epackpolymers.com info@epackpolymers.com
Website :	http://www.epackpolymers.com
Location :	Rented
Factory :	61 B and C, Udyog Vihar, Surajpur Kasna Road, Greater Noida – 201 306, Uttar Pradesh, India
Tel. No.:	91-120-2569078 / 2569079
Fax No.:	91-120-2569836 / 2569079 / 2569078
E-Mail :	info@epackpolymers.com
Area :	18000 sq. ft.
Location :	Owned

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Ajay Singhania

Designation :

Director

Address :

A – 122, Sector – 40, Noida, Uttar Pradesh, India

Date of Birth/Age :

07.08.1974

Date of Appointment :

27.12.1999

DIN No.:

00107555

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74999DL1999PTC098374	E-Pack Polymers Private Limited	Director	27-12-99	27-12-99	Active	NO
2	U51109AS2000PTC005999	S D Mercantiles Private Limited	Director	15-03-06	15-03-06	Active	NO
3	U29253DL2006PTC155466	Ennov Techno Tools Private Limited	Director	14-11-06	14-11-06	Active	NO
4	U32107DL2008PTC174054	Ennov Infra Solutions Private Limited	Director	14-02-08	14-02-08	Active	YES
5	U70200DL2010PTC202248	Madhav Building Solution Private Limited	Director	04-02-11	04-02-11	Active	NO

Name :

Mr. Laxmi Pat Bothra

Designation :

Director

Address :

B – 116, Golf Link, Sector – 40, Noida, Uttar Pradesh, India

Date of Birth/Age :

19.11.1961

Date of Appointment :

30.09.2008

DIN No.:

00130593

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74899DL1991PTC045850	Bothra Manufacturing Company Private Limited	Director	30-09-91	30-09-91	Active	NO
2	U25202DL1996PTC077568	East India Technologies Private Limited	Director	26-03-96	26-03-96	Active	NO
3	U32109DL2003PTC120952	E-Durables Electronics Private Limited	Director	17-06-03	17-06-03	Active	NO
4	U74999DL1999PTC098374	E-Pack Polymers Private Limited	Director	30-09-08	02-06-08	Active	NO

Name :

Mr. Rajat Bothra

Designation :

Director

Address :

B – 114, Golf Link, Sector – 40, Noida, Uttar Pradesh, India

Date of Birth/Age :

29.08.1982

Date of Appointment :

15.10.2004

DIN No.:

01044231

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U74999DL1999PTC098374	E-Pack Polymers Private Limited	Director	15-10-04	15-10-04	Active	NO
2	U25202DL1996PTC077568	East India Technologies Private Limited	Director	01-04-10	01-06-07	Active	NO

Name :

Mr. Sanjay Sighania

Designation :

Director

Address :

A – 122, Sector – 40, Noida, Uttar Pradesh, India

Date of Birth/Age :

26.07.1973

Date of Appointment :

12.02.1999

DIN No.:

01291342

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U50300AS1995PTC004521	East India Auto Traders Private Limited	Director	27-07-95	27-07-95	Active	NO
2	U74999DL1999PTC098374	E-Pack Polymers Private Limited	Director	12-02-99	12-02-99	Active	NO
3	U32109DL2003PTC120952	E-Durables Electronics Private Limited	Director	17-06-03	17-06-03	Active	NO
4	U51109AS2000PTC005999	S D Mercantiles Private Limited	Director	15-03-06	15-03-06	Active	NO
5	U29253DL2006PTC155466	Ennov Techno Tools Private Limited	Director	14-11-06	14-11-06	Active	NO
6	U32107DL2008PTC174054	Ennov Infra Solutions Private Limited	Director	14-02-08	14-02-08	Active	YES
7	U25202DL2005PTC135762	Krish Packaging Private Limited	Director	20-08-10	20-08-10	Active	NO

KEY EXECUTIVES

Name :	Mr. Umesh
Designation :	Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Bajarang Lal Bothra	579750
Kankanwari Devi Bothra	186700
Punam Chand Bothra (HUF)	5000
Leela Devi Bothra	111700
Rajat Bothra	95000
Laxmi Pat Bothra	728400
Suman Devi Bothra	145900
Nitin Bothra	40000
Nikhil Bothra	45000
Sanjay Singhania	724850
Deen Dayal Sighania	150100
Ajay Sighania	742500
Pinki Sighania	150000
Preeti Sighania	105000
Divisha Sighania	50000
Lalita Devi Singhania	15000
Dinesh Bhuwalka	500
Total	3875400

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of EPS Packaging, Telecom Shelters, Pre-Fabricated Structure, Cold Chain Solution, Rooting and Cladding Sheets, EPS Sheets, EPS Packaging, EPS Pallets.
Products :	· Telecom Shelters · Pre-fabricated Structure · Cold Chain Solutions · Roofing and Cladding Sheets · EPS Sheets · EPS Packaging · EPS Pallets
Exports :
Products :	Prefabricated Structure
Countries :	· Srilanka · Kuwait
Imports :
Products :	Raw Material
Countries :	· China · Korea
Terms :
Selling :	L/C, Cash and Credit
Purchasing :	L/C, Cash and Credit

GENERAL INFORMATION

Customers :

End Users and OEM’s

· Tata

· Mother Diary

· LG

· Nutek

· Ashok Leyland

· Videocon

· Quippo

· Lanka Bell

No. of Employees :

350 (Approximately)

Bankers :

· Corporation Bank, SME Branch, G-28/ 29, Sector – 18, Noida – 201 301, Uttar Pradesh, India

· Corporation Bank, SSI Branch, Sector 18, Noida, Uttar Pradesh, India

· Bank of Baroda, SME Noida Branch, P-5, Ocean Plaza, Upper Ground Floor, Noida – 201 301, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Term Loan from Bank	123.430	79.801
Working Capital Limit	38.061	46.512
Vehicle Loan	2.269	2.116
Total	163.760	128.429

Notes:-

1. Cash credit limit is secured against hypothecation /first charge on raw material, stock in process, finished goods. Spare and book debts of the company.

2. lnland/Import letter of credit is secured against extension of charge on stock and book debts of the company.

3. Bank guarantee limit is secured against hypothecation I first charge on inventory cum book debts/current assets.

4.Working capital term loan is secured against emg/first charge on factory land and building and hypothecation of first charge on plant and machinery and other moveable assets.

5.Term loans are secured against emg/first charge on factory land and building and hypothecation first charge on plant and machinery and other moveable assets.

All the aforesaid facilities are guaranteed by Sri Sanjay Singhania, Sri Ajay Singhania, Sri Rajat Bothra and Sri L.P. Bothra.

These facilities are collaterally secured by :-

i. EMG of factory land and building at plot No.61 B and C, Udyog Vihar, Greater Noida owned by the company.

ii. Hypothecation of plant and machinery arid other fixed assets owned by the company except vehicles.

iii. Pledge of shares of the company standing in the individual name of the promoters.

6. Vehicle loans are secured by way of hypothecation of vehicles.

7. Out of the total term loans stated above, all are payable in Indian currency.

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Shareholder	5.160	19.863
From Corporate Bodies	27.621	10.021
Total	32.781	29.884

Banking Relations :	-
Auditors :
Name :	Samrath M. Surana and Company Chartered Accountants
Address :	R. No.307, Sai Chamber, 783/16 D B Gupta Road, Karol Bagh, New Delhi-110 005, Delhi, India
Tel. No.:	91-11-23550150
Associates/Subsidiaries :	· East India Technologies Private Limited, Greater Noida (Uttar Pradesh), Bangalore · Ennov Infra Solutions Private Limited, Noida (Uttar Pradesh) · E-Durables, Dehradun, Uttarakhand · E- Vision · Ennov Techno Tools Private Limited

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3875400	Equity Shares	Rs.10/- each	Rs.38.754 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		38.754	38.754	38.754
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		169.927	150.815	58.867
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		208.681	189.569	97.621
LOAN FUNDS
1] Secured Loans		163.760	128.429	125.797
2] Unsecured Loans		32.781	29.884	28.920
TOTAL BORROWING		196.541	158.313	154.717
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		405.222	347.882	252.338
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		344.761	291.367	201.973
Capital work-in-progress		9.576	0.000	0.000
INVESTMENT		0.263	1.030	1.031
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	26.512	32.823	29.159
	Sundry Debtors	142.180	80.064	51.303
	Cash & Bank Balances	6.152	6.710	4.528
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	50.192	30.921	25.444
Total Current Assets		225.036	150.518	110.434
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	138.157	84.759
	Other Current Liabilities	34.407	5.403	54.511
	Provisions	1.850	4.871	6.600
Total Current Liabilities		174.414	95.033	61.111
Net Current Assets		50.622	55.485	49.323
MISCELLANEOUS EXPENSES		0.000	0.000	0.011
TOTAL		405.222	347.882	252.338

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	852.725	532.233	564.501
		Other Income	4.299	5.100	5.944
		TOTAL (A)	857.024	537.333	570.445
Less	EXPENSES
		Raw Material Consumed			405.108
		Manufacturing Expenses			66.592
		Administrative Expenses			9.592
		Establishment Expenses	801.407	486.166	12.084
		Selling & Distribution Expenses			14.201
		Other Expenditure			17.331
		TOTAL (B)	801.407	486.166	524.908
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		55.617	51.167	45.537
Less	FINANCIAL EXPENSES (D)		17.280	17.710	11.854
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		38.337	33.457	33.683
Less/ Add	DEPRECIATION/ AMORTISATION (F)		16.731	16.502	15.477
	PROFIT BEFORE TAX (E-F) (G)		21.606	16.955	18.206
Less	TAX (H)		2.494	3.053	4.028
	PROFIT AFTER TAX (G-H) (I)		19.112	13.902	14.178
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		72.769	58.867	44.689
	BALANCE CARRIED TO THE B/S		91.881	72.769	58.867
	EARNINGS IN FOREIGN CURRENCY		9.211	9.753	NA
	IMPORTS
		Raw Materials	2.523	15.780	59.509
		Capital Goods	23.356	10.257	31.880
	TOTAL IMPORTS		25.879	26.037	91.389
	Earnings Per Share (Rs.)		4.93	3.59	3.66

Particulars	31.03.2011
Sales Turnover (Approximately)	950.000

Expected Sales (2011-2012) : Rs.1200.000 millions

The above information has been parted by Mr. Umesh

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.23	2.59	2.49
Net Profit Margin (PBT/Sales)	(%)	2.53	3.19	3.23
Return on Total Assets (PBT/Total Assets}	(%)	5.84	3.84	5.83
Return on Investment (ROI) (PBT/Networth)		0.10	0.09	0.19
Debt Equity Ratio (Total Liability/Networth)		1.78	1.34	2.21
Current Ratio (Current Asset/Current Liability)		1.29	1.58	1.81

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents
1.	Year of Establishment	YES
2.	Locality of the firm	YES
3.	Constitutions of the firm	YES
4.	Premises details	YES
5.	Type of Business	YES
6.	Line of Business	YES
7.	Promoter’s background	--
8.	No. of employees	YES
9.	Name of person contacted	YES
10.	Designation of contact person	YES
11.	Turnover of firm for last three years	YES
12.	Profitability for last three years	--
13.	Reasons for variations <> 20%	--
14.	Estimation for coming financial year	YES
15.	Capital in the business	NO
16.	Details of sister concerns	YES
17.	Major Suppliers	NO
18.	Major Customers	YES
19.	Payment terms	YES
20.	Export / Import details (is applicable)	YES
21.	Market information	--
22.	Litigation that the firm / promoter involved in	--
23.	Banking Details	YES
24.	Banking facility details	NO
25.	Conduct of the banking account	--
26.	Buyer visit details	--
27.	Financials, if provided	NO
28.	Incorporation details, if applicable	--
29.	Last accounts filed at ROC	--
30.	Major Shareholders, is available	--

FINANCIAL RESULTS AND OPERATIONS

During the year rose by 60.22%. Profit before tax was higher by 27.43%. Company hopes for performance better in current year.

Bankers Charges Report as per Registry

Corporate identity number of the company	U74999DL1999PTC098374
Name of the company	E-PACK POLYMERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2584, Rohtagi Mansion, 2^nd Floor, Hamilton Road, Kashmere Gate, Delhi – 110 006, India E-Mail: info@epackpolymers.com
This form is for	Modification of charge
Charge identification number of the modified	10207107
Type of charge	Others (Corporate Guarantee)
Particular of charge holder	Bank of Baroda, SME Noida Branch, P-5, Ocean Plaza, Upper Ground Floor, Noida – 201 301, Uttar Pradesh, India E-Mail: akandco@hotmail.com
Nature of description of the instrument creating or modifying the charge	Corporate Guarantee Agreement dated 15/02/2010
Date of instrument Creating the charge	22.10.2010
Amount secured by the charge	Rs.94.716 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As applicable to reduced aggregate credit facilities of Rs.94.716 millions granted to/enjoyed by M/s E Durables Terms of Repayment As applicable to reduced aggregate credit facilities of Rs.94.716 millions granted to/enjoyed by M/s E Durables Margin As applicable to reduced aggregate credit facilities of Rs.94.716 millions granted to/enjoyed by E Durables Extent and Operation of the charge 100% Others To guarantee payment of all sums due to the Bank under reduced aggregate credit facilities of Rs.94.716 millions granted to/enjoyed by M/s E Durables
Short particulars of the property charged	Corporate Guarantee of the Company
Particulars of the present modification	The Corporate Guarantee of the Company stands reduced from Rs.123.780 millions to Rs.94.716 millions to guarantee payment of all sums due to the Bank reduced aggregate credit facilities of Rs.94.716 millions granted to/enjoyed by E Durables together with all interests, costs, charges, expenses, commission etc. Other terms and conditions remained the same.

TRADE REFERNCES

· Tata

· Mother Diary

· LG

FIXED ASSETS

· Building

· Computer

· Dies and Moulds

· Furniture

· Land

· Office Equipment

· Plant and Machinery

· Light Com. Vehicle

· Vehicle

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.50.56
UK Pound	1	Rs.80.30
Euro	1	Rs.68.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.