MIRA INFORM REPORT

Report Date :

27.04.2012

IDENTIFICATION DETAILS

Name :	WNS GLOBAL SERVICES PRIVATE LIMITED
Registered Office :	PL 10, Godrej and Boyce Complex, Pirojshanagar, L. B. S. Marg, Vikhroli (West), Mumbai - 400079, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.06.1996
Com. Reg. No.:	11-100196
Capital Investment/ Paid-up Capital:	Rs.117.241 Millions
CIN No.: [Company Identification No.]	U72200MH1996PTC100196
TAN No.: [Tax Deduction & Collection Account No.]	MUMW01007G
PAN No.: [Permanent Account No.]	AAACW2598L
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in providing a variety of business process outsourcing services including back office administration, data management and contact center management service to customers, primarily in the travel, Banking, Financial Service and Insurance Industries.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 24000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. 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.

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

LOCATIONS

Registered Office :	PL 10, Godrej and Boyce Complex, Pirojshanagar, L. B. S. Marg, Vikhroli (West), Mumbai - 400079, Maharashtra, India
Tel. No.:	91- 22- 40952100
Fax No.:	91-22-25188307
E-Mail :	Jayshree.ghantnekar@wns.com Vinoy.krishna@wnsgs.com jayesh.jain@wnsgs.com
Website :	www.wnsgs.com

DIRECTORS

As on: 30.09.2011

Name :

Mr. Ambreesh Mahajan

Designation :

Director

Address :

A 1101, 11^th Floor, Lake Castle Hirnandani Gardens, Powai, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

02.09.1963

Qualification :

MBA, PGDMM

Date of Appointment :

30.04.2004

Din No :

01739157

Other Directorships :

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	U72200MH1996PTC100196	WNS GLOBAL SERVICES PRIVATE LIMITED	Director	30-04-04	30-04-04	-	Active	NO
2	U72900MH2004PTC144503	NTRANCE CUSTOMER SERVICES PRIVATE LIMITED	Additional director	04-08-08	04-08-08	01-12-08	Amalgamated	NO

Name :

Ms. Sulakshana Jayant Patankar

Designation :

Director

Address :

Nayantara 7^th Floor, S No.809, Bhandarkar Road, Erandwane, Pune – 411004, Maharshtra, India

Date of Birth/Age :

30.07.1971

Qualification :

MBA, ICWA

Date of Appointment :

21.10.2003

Din No :

01875918

Other Directorships :

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	U72200MH1996PTC100196	WNS GLOBAL SERVICES PRIVATE LIMITED	Director	21-10-03	21-10-03	-	Active	NO
2	U72900MH2004PTC144503	NTRANCE CUSTOMER SERVICES PRIVATE LIMITED	Director	29-11-05	29-11-05	16-10-06	Amalgamated	NO
3	U72900MH2003PTC189790	WNS CUSTOMER SOLUTIONS SHARED SERVICES PRIVATE LIMITED	Director	29-09-08	10-07-08	01-12-08	Amalgamated	NO

Name :

Mr. Ravi Chandrakant Kulkarni

Designation :

Director

Address :

FlNOJ 2/302, Hermes Heritage, Phase II, Shastri Nagar, Pune – 411006, Maharashtra, India

Date of Birth/Age :

06.07.1975

Qualification :

CA, ICWA

Date of Appointment :

22.02.2010

Din No :

02351301

Other Directorships :

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	U72200MH2003PTC188296	WNS WORKFLOW TECHNOLOGIES (INDIA) PRIVATE LIMITED	Additional director	26-09-08	26-09-08	-	Amalgamated	NO
2	U72300MH2008PTC178983	SERVICESOURCE OFFSHORE TECHNOLOGIES PRIVATE LIMITED	Additional director	11-02-10	11-02-10	-	Amalgamated	NO
3	U72200MH1996PTC100196	WNS GLOBAL SERVICES PRIVATE LIMITED	Director	24-09-10	22-02-10	-	Active	NO

Name :

Mr. Gautam Bhupat Barai

Designation :

Director

Address :

1001, B Wing, Quantum Park, Union Park, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

15.05.1974

Qualification :

BE

Date of Appointment :

23.09.2010

Din No :

03267869

Name :

Mr. Swaminathan Rajamani

Designation :

Director

Address :

B 919, Lake Primrose, Lake Home Complex,Adi Shankarracarya Marg, Powai, Mumbai – 400076, Maharashtra, India

Date of Birth/Age :

22.04.1976

Date of Appointment :

09.12.2010

Din No :

03432159

Name :

Mr. Gopal Kumar Agrawal

Designation :

Additional Director

Address :

A/A-1, Shamail Complex, Ground Floor, Balaji Nagar, Stations Road, Bhayander (West), Thane, Mumbai - 401101

Date of Birth/Age :

07/08/1971

Date of Appointment :

24.10.2011

Din No :

05104675

KEY EXECUTIVES

Name :	Ms. Swati Singh
Designation :	Secretary
Address :	B 103, Gopal Smruti, Gopal Nagar, Road No. 2, Dombivili (East), Thane – 421201, Maharasthra, India
Date of Birth/Age :	29.04.1984
Date of Appointment :	29.04.2011
Pan No :	AQJPP8574D
Name :	Mr. Praveen Shrikhande
Designation :	SeniorVicePresident
Name :	Mr. Sanjay Jain
Designation :	Head - GTP
Name :	Mr. Vikas Gupta
Designation :	SeniorVicePresiden
Name :	Mr. Arun Kharbanda
Designation :	BU Head
Name :	Mr. Ariyur Thyagarajan Raghunathan
Designation :	Senior Vice President
Name :	Ms. Subramanian S
Designation :	Senior Vice President
Name :	Mr. Deepak Gupta
Designation :	Center
Name :	Ms. Sunita Lakhanpal
Designation :	Senior Vice President
Name :	Mr. Alok Chandra Misra
Designation :	Group CFO
Name :	Mr. Keshav Murugesh
Designation :	Group CEO
Name :	Mr. Arvind Sood
Designation :	ChiefTechnologyOfficer
Name :	Mr. Govind Sandhu
Designation :	Senior Vice President
Name :	Mr. Deepesh Varma
Designation :	Associate Vice President
Name :	Mr. Rohit Suchanti
Designation :	Associate Vice President
Name :	Mr. Prashant Narayan Sahay
Designation :	Vice President
Name :	Mr. Manish Sinha
Designation :	Business Unit Leader
Name :	Mr. Jasjit Singh Kang
Designation :	Business Unit Leader
Name :	Mr. Parabhjot Singh Dhaliwal
Designation :	Associate Vice President
Name :	Mr. Alok Verma
Designation :	Senior Vice President
Name :	Mr. Karthikeya N.Sarma
Designation :	Chief People Officer
Name :	Mr. Manjula Mani
Designation :	Vice President
Name :	Mr. Aniruddha Ray
Designation :	Senior Vice President
Name :	Mr. Harsh Hemant Kumar
Designation :	Vice President
Name :	Mr. Ganesh Sadanand Shenoy
Designation :	Associate Vice President
Name :	Mr. Ganesh D Prabhu
Designation :	Senior Vice President
Name :	Mr. Amit Pishu Gurnani
Designation :	Associate Vice President
Name :	Mr. Mark John Sathiabalan
Designation :	Vice President
Name :	Mr. Nakul L Subramanyam
Designation :	Chief Administrative Officer
Name :	Mr. Arjun Singh Bedi
Designation :	Associate Vice President
Name :	Mr. Sumer Shankardass
Designation :	Executive Vice President
Name :	Mr. Biju Bhuvendran
Designation :	Senior Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2011

Names of Shareholders	No. of Shares
WNS Global Services (UK) Limited, United Kingdom	1
WNS (Mauritius) Limited, Mauritius	921145
WNS Customer Solutions (Singapore) Private Limited, Singapore	202668
Total	1123814

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]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in providing a variety of business process outsourcing services including back office administration, data management and contact center management service to customers, primarily in the travel, Banking, Financial Service and Insurance Industries.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The HongKong and Shanghai Banking Corporation Limited, 52/60 M. G. Road, Fort, Mumbai, Maharashtra, India

Facilities :

Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Working capital loan banks secured (Repayable within one year Rs.223.463 Millions.)	223.463	0.000
Loans subsidiaries unsecured	5222.698	334.222
Total	5446.161	334.222

Banking Relations :	--
Auditors :
Name :	Walker Chandiok and Company Chartered Accountants
Address :	Mumbai, Maharashtra, India
Pan No:	AAAFW4298E
Holding company :	WNS (Mauritius) Limited, Mauritius WNS Customer Solutions (Singapore) Private Limited
Ultimate Holding Company :	WNS (Holdings) Limited ('WNS Holding')
Subsidiaries :	WNS Cares Foundation
Fellow Subsidiaries :	WNS Customer Solutions (Sri Lanka) Private Limited ('WNS CS') WNS North America Inc. ('WNS NA') WNS Business Consulting Services Private Limited (India) WNS Global Services (Sri Lanka) Private Limited ('WNS GS') WNS Capital Investment Limited ('WCIL') WNS Philippines Inc ('WNS Philippines') WNS Global Services (Romania) SRL (WNS Romania) WNS BPO Services Costa Rica, S.A. WNS Global Services (Australia) ) Private Limited WNS Global Services Netherlands Cooperative UA Business Applications Associates Inc NA WNS Global Services Philippines Inc. WNS Customer Solutions (Singapore) Private Limited Town and Country Assistance Limited WNS Business Consulting Services Private Limited WNS Global FZE WNS Workflow Technologies Limited Chang Limited Baizan International Software Technology (Beijing) Company Limited

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
7337000	Equity Shares	Rs.100/- each	Rs.733.700 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1172414	Equity Shares	Rs.100/- each	Rs.117.241 Millions

Of the above:

(i) Nil (Previous year: 275,914) shares have been issued as fully paid for consideration other than cash

(ii) During the year 46,500 (Previous year: 57,000) shares extinguished under buy back scheme

All the above shares are held by WNS (Holdings) Limited, the ultimate holding company, through WNS (Mauritius) Limited and WNS Customer Solutions (Singapore) Private Limited

As on: 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
6702000	Equity Shares	Rs.100/- each	Rs.670.200 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1123814	Equity Shares	Rs.100/- each	Rs.112.381 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		117.241	121.891	100.000
2] Share Capital (to be issued) account		0.000	0.000	27.591
3] Reserves & Surplus		6127.074	4618.559	4312.630
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		6244.315	4740.450	4440.221
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		5446.161	334.222	11.468
TOTAL BORROWING		5446.161	334.222	11.468
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
Cash payable for investments		0.000	0.000	647.323
TOTAL		11690.476	5074.672	5099.012
APPLICATION OF FUNDS
Goodwill		0.000	0.000	9.087
FIXED ASSETS [Net Block]		6209.516	1691.669	2110.314
Capital work-in-progress		144.574	48.195	107.017
INVESTMENT		0.100	0.000	457.682
DEFERREX TAX ASSETS		580.985	429.708	350.313
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	5304.545	3816.917	4077.844
	Cash & Bank Balances	655.416	515.182	747.873
	Other Current Assets	1711.229	1150.263	164.440
	Loans & Advances	1435.848	1359.727	2182.961
Total Current Assets		9107.038	6842.089	7173.118
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	39.292	68.032	150.557
	Other Current Liabilities	3994.999	3493.446	4662.936
	Provisions	317.446	375.511	295.026
Total Current Liabilities		4351.737	3936.989	5108.519
Net Current Assets		4755.301	2905.100	2064.559
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		11690.476	5074.672	5099.012

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2011	31.03.2010	31.03.2009
	REVENUE	12324.288	12195.426	12447.514
	PROFIT BEFORE TAX	2374.227	1759.235	1615.925
Less	TAX	(30.099)	(72.136)	(53.057)
	PROFIT AFTER TAX	2404.326	1831.371	1668.982
	EXPORT VALUE	11671.071	12157.562	1255.927
	Earnings Per Share (Rs.)	2050.75	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	15.50	20.61	17.41
Return on Investment (ROI) (PBT/Networth)		0.38	0.37	0.37
Debt Equity Ratio (Total Liability/Networth)		1.57	0.90	1.15
Current Ratio (Current Asset/Current Liability)		2.09	1.74	1.40

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	No
Name of Person Contacted	No
Designation of contact person	No
Turnover of firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

OPERATION:

The Company is engaged in providing a variety of business process outsourcing services comprising back-office administration, data management and contact center management services to customers, primarily in the travel, banking, financial services and insurance industries.

SCHEME OF AMALGAMATION

I. WNS (Holdings) Limited, a company listed on the New York Stock Exchange is the Company's ultimate holding company. In November 2009, under a restructuring plan of the WNS Group, the Company purchased all outstanding shares of the following WNS Group companies:

a. First Off shoring Technologies Private Limited ('FOTPL') acquired from WNS (Mauritius) Limited upon payment of an aggregate consideration of Rs.174.540 millions

b. Service source Offshore Technologies Private Limited ('SOTPL') acquired from WNS (Mauritius) Limited upon payment of an aggregate consideration of Rs.55.893 millions

c. Hi-Tech Off shoring Services Private Limited ('HOSPL') acquired from WNS (Mauritius) Limited upon payment of an aggregate consideration of Rs.100.

Consequent to the above, FOTPL, SOTPL and HOSPL (together 'transferor companies') became wholly owned subsidiaries of the Company. The transferor companies are engaged in providing a variety of business process outsourcing services.

Subsequently, a Scheme of Amalgamation of the erstwhile transferor companies with the Company ("New Scheme") under sections 391 to 394 of the Companies Act, 1956, as approved by the members of the Company on November 19, 2009 and sanctioned by the Hon'ble High Court of Bombay vide order dated March 31, 2010, has come in to effect on March 31, 2010, date of filing of the Scheme with the Registrar of Companies. The Scheme has helped in consolidating the business process outsourcing services of the transferor companies in to the Company for better focus, control and management. The accounting treatment of this scheme has been given in the financial statements for the year ended March 31, 2010.

PURSUANT TO THE SCHEME:

a. The transferor companies stand amalgamated with the Company and all assets and properties, both movable and immovable, and debts, liabilities including contingent liabilities, duties and obligations, of the transferor companies has been transferred to and vested in the Company retrospectively, with effect from the appointed dates, April 1, 2008 for FOTPL, SOTPL and April 08, 2008 for HOSPL.

b. The amalgamation has been accounted for under the 'pooling of interests method', in the manner specified in the Scheme and in accordance with the Accounting Standard ('AS') 14 'Accounting for Amalgamations' as notified under Companies Accounting Standards Rule, 2006. Accordingly, the following assets, liabilities and reserves of the transferor companies as at appointed dates have been taken over by the Company at their book values. There are no differences in the accounting policies between the respective transferor companies and the Company and hence no adjustment has been made in the book values.

FIXED ASSETS:

· Leasehold Improvement

· Computer

· Furniture and Fixtures

· Equipment and Fittings

· Generators

· Vehicles

· Building

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.52.57
UK Pound	1	Rs.85.02
Euro	1	Rs.69.56

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	No
--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		64

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.