|
Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ORIENTAL CONTAINERS LIMITED |
|
|
|
|
Formerly known as : |
Oricon Packaging Private Limited |
|
|
|
|
Registered Office : |
1076, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
13.02.2006 |
|
|
|
|
Com. Reg. No.: |
11-159687 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.108.208 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U28992MH2006PLC159687 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMO04068B / MUMO03131C / BLRO00968C / BLRO00686A / BLRO00969D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACO8122G |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Aluminium and Aluminium Products. |
|
|
|
|
No. of Employees : |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5000000 |
|
|
|
|
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. |
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 : |
Ms. Hemangini |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-24964656 |
|
Date : |
04.04.2012 |
LOCATIONS
|
Registered Office : |
Parijat House, 1076, |
|
Tel. No.: |
91-22-24964656 / 60 / 24925581 / 82 /
24954484 |
|
Fax No.: |
91-22-24963055 / 24950314 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 327 to 332, Kundiam Industrial Estate, Kundiam, Goa – 403
115, |
|
|
|
|
Factory 2 : |
A-1, MIDC, Industrial Area, Dist. Thane, Mumbai, |
DIRECTORS
AS ON 26.08.2011
|
Name : |
Mr. Rajendran Ayadurai |
|
Designation : |
Director |
|
Address : |
Apartment B -21-1 Villa, Angsana 56 Jalan Krian off JLN IOPH, |
|
Date of Birth/Age : |
23.09.1961 |
|
Date of Appointment : |
16.01.2008 |
|
DIN No. : |
02032283 |
|
|
|
|
Name : |
Mr. Balkishan Udairam Toshniwal |
|
Designation : |
Whole Time Director |
|
Address : |
G -5, Satyanaryan Bhavan, Dr. R G Thadani Marg, Worli, Mumbai – 400
018, |
|
Date of Appointment : |
13.02.2006 |
|
DIN No. : |
00048019 |
|
|
|
|
Name : |
Mr. Richard Foyston |
|
Designation : |
Director |
|
Address : |
1st Floor, Menare Prudential JalanSultan Ismail |
|
Date of Birth / Age : |
14.01.1958 |
|
Date of Appointment : |
27.09.2006 |
|
DIN No. : |
01089445 |
|
|
|
|
Name : |
Mr. Rajendra Somani |
|
Designation : |
Managing Director |
|
Address : |
Sreeninetan 5th Floor, 86-A, |
|
Date of Birth / Age : |
18.02.1948 |
|
Date of Appointment : |
13.02.2006 |
|
DIN No. : |
00332465 |
|
|
|
|
Name : |
Mr. Bruno Seghin |
|
Designation : |
Director |
|
Address : |
Apt A 1, |
|
Date of Birth / Age : |
07.05.1957 |
|
Date of Appointment : |
27.09.2006 |
|
DIN No. : |
00740866 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Oricon Enterprises Limited, India |
|
3246186 |
|
Rajendra Somani |
|
1 |
|
Surendra Somani |
|
1 |
|
V.N. Khanna |
|
1 |
|
B.K. Toshniwal |
|
1 |
|
Sanjay Jain |
|
1 |
|
B.M. Gaggar |
|
1 |
|
Navigate Mauritius Limited, Mauritius |
|
100 |
|
OC Holdings Limited, Mauritius |
|
7574544 |
|
|
|
|
|
Total |
|
10820836 |
Equity Share Capital
AS ON 30.09.2011
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
70.00 |
|
Bodies corporate |
|
29.99 |
|
Other top fifty shareholders |
|
0.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Packaging Products |
|
|
|
|
Products : |
· Hycrown
· Hycan
· Hytube
· Neeonseal
· Gloseal
· Topseal
· Aluseal
· Swageseal
· Bevseal
· Metal
Printing · Petrochemicals |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 days, 60 days, 90 days)
|
|
|
|
|
Purchasing : |
Cash, Credit
(30 days, 60 days, 90 days)
|
PRODUCTION STATUS AS ON 31.03.2011
(Quantity
units in thousands)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Closures |
14306000 |
7312920 |
|
Tubes |
120000 |
56304 |
Note:
Installed capacity is as certified by the management
and has not been verified by auditors, as it is a technical matter.
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End users |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
800 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· ABN Amro Bank N V,
Brady House, · Central Bank of
India, Corporate Finance Branch, First Floor, MMO Building, M.G. Road, Fort,
Mumbai – 400 023, Maharashtra, India · Punjab National
Bank, |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
in millions)
(Rs.
in millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
KPMG House, Kamala Mills, Compound 448 S B Marg, Lower Parel, Mumbai –
400 014, |
|
|
|
|
Holding Company : |
· Oricon Holdings Limited, Mauritius |
|
|
|
|
Parties over which directors exercise significant influence : |
·
Oricon Enterprises Limited (OEL) ·
Servamangal Mercantile Company Limited (SMCL) ·
SV Trading and Agencies Limited (SVTAL) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000
millions |
|
75000000 |
0.000001% Convertible or Redeemable, Non-cumulative Preference Shares |
Rs.10/- each |
Rs.750.000
millions |
|
|
|
|
|
|
|
|
Total
|
Rs.
1000.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10820836 |
Equity Shares |
Rs.10/- each |
Rs.108.208 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
108.208 |
68.845 |
438.207 |
|
|
2] Share Application Money |
0.000 |
513.933 |
513.933 |
|
|
3] Reserves & Surplus |
1164.114 |
602.764 |
99.111 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(9.810) |
|
|
NETWORTH |
1272.322 |
1185.542 |
1041.441 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
325.123 |
300.070 |
160.343 |
|
|
2] Unsecured Loans |
178.124 |
177.190 |
162.576 |
|
|
TOTAL BORROWING |
503.247 |
477.260 |
322.919 |
|
|
DEFERRED TAX LIABILITIES |
101.525 |
64.832 |
12.381 |
|
|
|
|
|
|
|
|
TOTAL |
1877.094 |
1727.634 |
1376.741 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1473.336 |
1319.691 |
1089.790 |
|
|
Capital work-in-progress |
129.894 |
45.458 |
0.795 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
542.923
|
389.024
|
250.982
|
|
|
Sundry Debtors |
432.386
|
402.557
|
370.862
|
|
|
Cash & Bank Balances |
38.571
|
85.831
|
15.188
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
197.490
|
148.254
|
112.685
|
|
Total
Current Assets |
1211.370
|
1025.666
|
749.717
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
839.252
|
562.182 |
297.831 |
|
|
Other Current Liabilities |
40.524
|
39.633
|
138.185
|
|
|
Provisions |
57.730
|
61.366
|
27.545
|
|
Total
Current Liabilities |
937.506
|
663.181
|
463.561
|
|
|
Net Current Assets |
273.864
|
362.485
|
286.156
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1877.094 |
1727.634 |
1376.741 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2445.528 |
2094.476 |
1593.732 |
|
|
|
Other Income |
18.507 |
118.687 |
69.180 |
|
|
|
TOTAL (A) |
2464.035 |
2213.163 |
1662.912 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1575.492 |
1382.237 |
0.000 |
|
|
|
Manufacturing Service Costs |
322.790 |
255.452 |
1064.715 |
|
|
|
Employee related expenses |
170.680 |
142.598 |
110.859 |
|
|
|
Administrative selling other expenses |
84.502 |
80.549 |
306.686 |
|
|
|
TOTAL (B) |
2153.464 |
1860.836 |
1486.478 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
310.571 |
352.327 |
176.434 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.800 |
45.891 |
39.863 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
253.771 |
306.436 |
136.571 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
116.897 |
107.187 |
78.305 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
136.874 |
199.249 |
58.266 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
50.092 |
55.150 |
14.515 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
86.782 |
144.099 |
43.751 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
134.289 |
(9.810) |
(53.561) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
221.071 |
134.289 |
(9.810) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
8.36 |
26.04 |
12.97 |
|
Expected Sales (2011-2012) : Rs.3000.000 Millions
The above information has been parted by Ms. Hemangini (Accounts
Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.52
|
6.51 |
2.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.59
|
9.51 |
3.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.09
|
8.50 |
3.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.17 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.13
|
0.96 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
1.55 |
1.62 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
13.814 |
15.296 |
13.533 |
|
Creditors due others |
825.438 |
546.886 |
284.298 |
|
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% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
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 |
-- |
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
a)
Capital commitments Estimated amount of contracts,
net of capital advances of Rs.10.685 millions (previous year: Rs.27.594 millions)
remaining to be executed on capital account (previous year: Rs.50.519 millions)
b)
Contingent liabilities in respect In respect of
excise and Service tax matters Rs.3.288 (Previous Year: Rs.2.691 millions).
c)
Other commitments The Company has an unfulfilled
export commitments aggregating Rs.846.049 millions (Previous Year: Rs.649.087
millions) towards capital goods installed in the manufacturing facilities in
Murbad and Goa for which duty exemption was availed.
FORM 8:
|
Corporate
identity number of the company |
U28992MH2006PLC159687 |
|
Name of the
company |
ORIENTAL
CONTAINERS LIMITED |
|
Address of
the registered office or of the principal place of business in |
1076, Dr. E.
Moses Road, Worli, Mumbai-400018, Maharashtra, India E-Mail Id: sanjayjain@ocl-india.com |
|
This form
is for |
Creation of
charge |
|
Type of
charge |
Others-Vehicle
(Hypothecated Vehicle) |
|
Particular
of charge holder |
Punjab
National Bank, Shiv E Numb, Dr. Annie Besant Road, Worli, Mumbai-400018,
Maharashtra, India E-Mail Id: shreechandkhaturia@pnb.co.in |
|
Nature of
instrument creating charge |
Letter Of
Hypothecation (For Car Loan) |
|
Date of
instrument Creating the charge |
20.10.2011 |
|
Amount
secured by the charge |
Rs.0.700
millions |
|
Brief of
the principal terms an conditions and extent and operation of the charge |
a) Rate of Interest Base Rate +2.00% - 1.50 % presently 11.25%
per annum with monthly rests and as per sanctioned letter b) Terms of Repayment The amount of loan
together with interest will be paid in 35 EMI of Rs. 23555/- commencing from
november, 2011 c) Margin To the extent of
hypothecated vehicle i.e car maruti sx4 zxi automatic d) Extent and operation of the charge Rs.0.700 millions Letter
Of hypothecation for car loan i.e car maruti sx4 zxi automatic e) Other Nil |
|
Short
Particulars of the property charged |
i)
Hypothecated
vehicle i.e car maruti sx4 zxi automatic ii) The vehicle shall be used for personal use
and will not be sold, given on lease or on hire or otherwise parted with the
possession or encumbered in any way till the repayment of loan. |
FIXED ASSETS:
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.51.04 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.