MIRA INFORM REPORT

Report Date :

04.10.2011

IDENTIFICATION DETAILS

Name :	MSS INDIA PRIVATE LIMITED
Registered Office :	H - 8, M.I.D.C. Area, Ambad, Nashik – 422 010, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.05.1998
Com. Reg. No.:	11-114831
Capital Investment / Paid-up Capital :	Rs.7.500 Millions
CIN No.: [Company Identification No.]	U27200MH1998PTC114831
TAN No.: [Tax Deduction & Collection Account No.]	NSKM02779A
PAN No.: [Permanent Account No.]	AAACI5887J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Electrical Components like pressure components used in switch gears, TC Busbar, Power Generation Products such as Transformers, Fusegear etc.
No. of Employees :	300 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 1502228
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of Brydon Properties Limited, UK. It is a well established company having fine track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. Payments are reported to be correct and as per commitments. The company can be considered normal 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.

INFORMATION PARTED BY

Name :	Mr. Parag Javeri
Designation :	Accounts Manger
Contact No.:	91-9922912043
Date :	03.10.2011

LOCATIONS

Registered Office/ Factory :	H - 8, M.I.D.C. Area, Ambad, Nashik – 422 010, Maharashtra, India
Tel. No.:	91-253-2380982
Mobile No.:	91-9922912043 (Mr. Parag Javeri)
Fax No.:	91-253-2383732
E-Mail :	mssindia_04@mssindia.co.in mssind_nsk@sancharnet.in mssind@sify.com mssajay@sify.com mangesh_natal@mssinida.co.in suranaaj@yahoo.co.in
Website :	http://www.mssindia.co.in
Area :	4500 sq. ft.
Location :	Owned

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Devel Haresh Patel

Designation :

Nominee Director

Address :

1, Ladhbhai Mansion, 1st Floor,1A, New Queens Road, Mumbai-400004, Maharashtra, India

Date of Birth/Age :

10.02.1970

Date of Appointment :

27.02.2009

Din No.:

00169891

Other Directorship:

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	U72900MH2001PTC132817	ASTRUM SOLUTIONS PRIVATE LIMITED	Director	20-07-01	20-07-01	19-01-09	Active	NO
2	U74110MH2006PTC162547	LEGAL QUOTIENT CONSULTANTS PRIVATE LIMITED	Director	08-06-06	08-06-06	-	Active	NO
3	U01403MH2007PTC171874	NEWSTAIRS AGRO CONSULTANTS AND DEVELOPERS PRIVATE LIMITED	Director	21-06-07	21-06-07	-	Active	NO
4	U31909MH2006PTC166365	G Corner Electrical Systems Private Limited	Director	30-09-08	30-09-08	02-08-10	Active	NO
5	U27200MH1998PTC114831	MSS INDIA PRIVATE LIMITED	Nominee director	27-02-09	27-02-09	09-08-10	Active	NO
6	U74900MH2010FTC207275	MINRAV INDIA ENGINEERING AND CONSTRUCTION PRIVATE LIMITED	Director	30-08-10	30-08-10	-	Active	NO
7	U29268MH2011FTC213746	BROCHOT India Private Limited	Director	18-02-11	18-02-11	-	Active	NO

Name :

Mr. Mangesh Dattatraya Natal

Designation :

Nominee Director

Address :

Flat No. 18, Patil Classic Apartments, Govind Nagar, Near Pimprikar Hospital, Nashik-422009, Maharashtra, India

Qualification :

M. Tech, BE

Date of Appointment :

1.11.2005

Din No.:

00910326

Other Directorship:

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	U27200MH1998PTC114831	MSS INDIA PRIVATE LIMITED	Nominee director	01-11-05	01-11-05	Active	NO
2	U31909MH2006PTC166365	G CORNER ELECTRICAL SYSTEMS PRIVATE LIMITED	Nominee director	01-01-07	01-01-07	Active	NO

Name :

Mr. Roy Philip Calvin

Designation :

Director

Address :

3, Rydal Drive Hale Barns, At Tincham WA 15 STE, Cheshire, 158l, United Kingdom

Date of Appointment :

27.05.1999

Name :

Mr. Braine Joseph Hall

Designation :

Director

Address :

White Paddock Farm, Harwooid Road, Tittington, BLS 3 PT, Tottington 83m Uinited Kingdom

Date of Appointment :

01.07.2004

Name :

Mrs. Rashmi Haresh Patel

Designation :

Nominee Director

Address :

1, Ladhbhai Mansion, 1^st Floor, 1A, New Queens Road, Mumbai-400004, Maharashtra, India

Date of Birth/Age :

19.02.1938

Date of Appointment :

27.02.2009

Name :

Mr. Anand Shivdas Daga

Designation :

Director

Address:

Suman Smruti, Goley Colony, Nashik – 422002, Maharashtra, India

Qualification :

CA

Date of Appointment :

01.08.2010

KEY EXECUTIVES

Name :	Mr. Parag Javeri
Designation :	Accounts Manager
Name :	Mr. Jitendra Mehta
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Bryden Properties Limited, UK	749999
Roy Calvin Jointly with Mangesh Natal	1
Total	750000

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage of Holding
Foreign holdings (Foreign institutional investor(S), Foreign comapnie(s), Foreign financial institutions(s), Non-resident Indian(s) or Overseas corporate bodies or others)	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electrical Components like pressure components used in switch gears, TC Busbar, Power Generation Products such as Transformers, Fusegear etc.

Products :

Product Description	ITC Code
Small Fabricated Items	853810.09
Fabricated Bus Bars	853810.09
Press Work Items	853810.09
Braided Connectors	853810.09
Laminated Connectors	853810.09
Lead Cast Connector	853810.09

Exports :

Products :

Electrical Components

Countries :

• UK
• Ireland
• Singapore

Imports :

Products :

Raw Materials

Countries :

• Malaysia
• Germany

Terms :

Selling :

L/C / Cash and Credit (30 days , 60 days , 90 days)

Purchasing :

L/C / Cash and Credit (30 days , 60 days , 90 days)

GENERAL INFORMATION

Suppliers :

• Oriental Copper Company, Thailand
• Agrawal Metal Works

Customers :

OEM’s

• ABB India

No. of Employees :

300 [Approximately]

Bankers :

State Bank of India, Satpur Industrial Branch, Satpur and Nashik-422 007, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Bank
Cash Credit	94.082	116.275
Total	94.082	116.276

Banking Relations :	--
Auditors :
Name :	Edwin P. Augustine Chartered Accountant
Address :	Ravindra Annexe 194, Churchgate Reclamation, Dineshaw Vachha Road, Mumbai - 400 020, Maharashtra, India
Tel No.:	91-22-22047722/23
Fax No.:	91-22-66338352
Email:	sharp@bom3.vsnl.net.in
Holding Company:	Bryden Properties Limited
Associates:	· Power Components Limited · Logistics Distribution Services Private Limited · MSS Products Limited · MSS South Africa · MSS Industrial Battery Accessories Limited · MSS Global Sourcing Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions
750000	13% Redeemable Cumulative Preference Shares	Rs.10/- each	Rs.7.500 Millions
	Total		Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
750000	Equity Shares	Rs.10/- each	Rs.7.500 Millions

Note:

During the current year, entire share capital is held by Bryden Properties Limited, U.K, the holding company

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		7.500	7.500	7.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		368.057	338.252	291.854
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		375.557	345.752	299.354
LOAN FUNDS
1] Secured Loans		94.082	116.276	18.891
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		94.082	116.276	18.891
DEFERRED TAX LIABILITIES		7.538	6.756	4.545
TOTAL		477.177	468.784	322.790
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		162.630	160.086	142.084
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		100.013	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	59.249	146.502	86.248
	Sundry Debtors	195.191	199.716	167.696
	Cash & Bank Balances	60.623	33.474	25.690
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	10.456	51.430	44.522
Total Current Assets		325.519	431.122	324.156
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	95.446	66.512	99.460
	Other Current Liabilities	13.576	34.652	30.194
	Provisions	1.964	21.260	13.796
Total Current Liabilities		110.985	122.424	143.450
Net Current Assets		214.534	308.698	180.706
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		477.177	468.784	322.790

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	572.819	512.064	637.594
		Other Income		50.945	22.540
		TOTAL (A)	572.819	563.009	660.134
Less	EXPENSES
		Cost of Goods Sold		413.163	489.061
		Staff and Welfare	526.514	20.721	15.826
		Manufacturing, Selling and Administration		58.246	40.376
		TOTAL (B)	526.514	492.130	545.263
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[	70.879	114.871
			Including Financial Expenses and Depreciation]
Less	FINANCIAL EXPENSES (D)			9.442	8.740
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			61.437	106.132
Less/ Add	DEPRECIATION/ AMORTISATION (F)			7.765	6.564
	PROFIT BEFORE TAX (E-F) (G)		46.305	53.672	99.566
Less	TAX (H)		15.100	5.875	5.534
	PROFIT AFTER TAX (G-H) (I)		31.205	47.797	94.032
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	235.751	141.719
	BALANCE CARRIED TO THE B/S		NA	283.549	235.751
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	419.967	439.177	596.923
		Commission Earnings	0.000	0.000	0.478
	TOTAL EARNINGS		419.967	439.177	597.401
	IMPORTS
		Raw Materials	171.291	287.579	341.807
		Capital Goods	7.163	6.762	1.552
	TOTAL IMPORTS		178.454	294.341	343.359
	Earnings Per Share (Rs.)		41.61	63.73	--

Particulars	31.03.2011
Sales Turnover [Approximately]	760.000

Expected Sales (2011-12): Rs.1000.000 Millions

The above information has been parted by Mr. Parag Javeri.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	5.45	8.49	14.24
Net Profit Margin (PBT/Sales)	(%)	NA	10.48	15.62
Return on Total Assets (PBT/Total Assets}	(%)	9.48	9.09	21.36
Return on Investment (ROI) (PBT/Networth)		0.12	0.16	0.33
Debt Equity Ratio (Total Liability/Networth)		0.55	0.69	0.54
Current Ratio (Current Asset/Current Liability)		2.93	3.52	2.26

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

Particulars	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions	31.03.2008 Rs. In Millions
Trade Creditors
- Due to Micro and Small Enterprises	0.187	0.091	0.416
- Due to Others	95.259	66.421	99.044
Total	95.446	66.512	99.460

Check List by Info Agents	Available in Report (Yes / No)
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	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
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, if available	--

NOTE:

The Registered Office of the company has been shifted from H-111, MIDC, Ambad, Nashik-422010, Maharashtra, India to present address w.e.f. 28.01.2008

Bankers Charges Report as per Registry

Name of the company

MSS INDIA PRIVATE LIMITED

Presented By

MSS INDIA PRIVATE LIMITED

1) Date and description of instrument creating the change

Confirmation Letter for Deposit of Title Deed for creation of Equitable Mortgage dated 06.11.2000

2) Amount secured by the charge/amount owing on the securities of charge

Demand Cash Credit Rs.4.000 Millions

Letter of Credit and Guarantees Rs.2.175 Millions

Total Rs. 6.179 Millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Equitable mortgage of Plot No. H-111, MIDC, Industrial Area, Ambad, Nashik admeasuring 1615 Sq.mtrs. by way of collateral security

4) Gist of the terms and conditions and extent and operation of the charge.

Mortgage as security for Demand Cash credit, Letter of Credit facilities and bank guarantee limit of total value Rs.6.175 Millions with intention of creating an Equitable Mortgage as collateral security

5) Name and Address and description of the person entitled to the charge.

State Bank of India, Satpur Industrial Branch, Satpur and Nashik-422007, Maharashtra, India

6) Date and brief description of instrument modifying the charge

Enhanced letter dated 16.12.2003 for deposit of title deed for creation of additional charge.

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Original charge of Rs.6.175 Millions created on 06.11.2000 was registered with ROC on 27.11.2000. This charge was further modified by Rs.3.150 Millions i.e. the charge in enhanced form Rs.6.175 Million to Rs.9.325 millions on 01.11.2001 and registered with ROC on 05.12.2001

Now by this present modification the credit limits are enhanced form Rs.9.325 Millions to Rs.15.600 Millions and the additional charge is created on Plot No. H-111l, MIDC Industrial area, Ambad, Nashik admeasuring 1615 sq.mtrs. The details of enhanced limits are as under-

Particulars	Existing Limit (Rs. in Millions)	Enhanced Limit (Rs. in Millions)
DCC (Stock and Book Debts)	6.000	8.000
SME Credit Plus	--	1.600
Export Packing Credit (Within DCC)	--	[5.000]
Export Bill Negotiation (Within DCC)	--	[5.000]
Letter of Credit	3.000	5.000
Bank Guarantee	0.325	1.000
Total	9.325	15.600

This form is for	Modification of charge
Charge identification number of the modified	90236041
Corporate identity number of the company	U27200MH1998PTC114831
Name of the company	MSS INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	H - 8, M.I.D.C. Area, Ambad, Nashik-422 010, Maharashtra, India
Type of charge	Book Debts Others
Particular of charge holder	State Bank of India, Satpur Industrial Branch, Satpur and Nashik-422 007, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement of Loan-cum-Hypothecation Letter of Arrangement
Date of instrument Creating the charge	06.03.2009
Amount secured by the charge	Rs.222.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at 0.25% above / below State Bank Advance Rate (SBAR) (SBAR = 12.25% w.e.f. 01.01.2009) with minimum of 12.50% p.a. rising or falling therewith, on daily products with monthly rests and as notified by the bank to the borrower form time to time Terms of Repayment On demand Margin Raw Materials: Imported, Raw Materials: Indigenous, Semi-Finished Goods, Finished Goods 25% Letter of Credit and Bank Guarantee 15% Extent and Operation of the charge As per the bank norms
Short particulars of the property charged	Hypothecation of all stock of raw materials, stock in process, finished goods, consumables, book debts, bills and other current assets, receivables present and future of the company and more particularly described in attached agreement.
Date of latest modification prior to the present modification	01.09.2007
Particulars of the present modification	The total overall credit limit is enhanced form Rs.107.500 Millions to Rs.222.500 Millions, the details of credit limits are as under:- Working Capital : Rs.100.000 Millions SMECC: Rs.2.500 Millions LC : Rs.100.000 Millions BG: Rs.20.000 Millions

TRADE REFERENCES:

· Oriental Copper Company, Thailand

· Agrawal Metal Works

· ABB India Limited

FIXED ASSETS:

· Factory Building

· Plant and Machinery

· Office Furniture and Fixture

· Leasehold Land

· Software

· Vehicles

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.49.23
UK Pound	1	Rs.76.07
Euro	1	Rs.65.06

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--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		52

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.