|
Report Date : |
03.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SYSTEM PRODUCT ENTERPRISES ( |
|
|
|
|
Registered
Office : |
Unit No.303/304, 3rd Floor, Owners Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.07.2003 |
|
|
|
|
Com. Reg. No.: |
11-141171 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2003PTC141171 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS41026G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS3906P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Fire Protection Equipment. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 38000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
drastic fall in the profitability and sales turnovers. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in 2011
slowed because of persistently high inflation and interest rates and little
progress on economic reforms. High international crude prices have exacerbated
the government's fuel subsidy expenditures contributing to a higher fiscal
deficit, and a worsening current account deficit. Little economic reform took
place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Santosh Palande |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-43488488 |
|
Date : |
01.12.2012 |
LOCATIONS
|
Registered Office : |
Unit No.303/304, 3rd Floor, Owners Industrial Estate, Gabriel
Road, Mahim (West), Mumbai – 400016, Maharashtra, India |
|
Tel. No.: |
91-22-43488488 |
|
Fax No.: |
91-22-43488477 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Firdaus Homi Masani |
|
Designation : |
Director |
|
Address : |
Vakil Building, 683-A, Khareghat Road, Parsi Colony, Dadar, Mumbai –
400014 Maharashtra, India |
|
Date of Birth/Age : |
16.05.1957 |
|
Date of Appointment : |
04.07.2003 |
|
DIN No.: |
00151797 |
|
|
|
|
Name : |
Mr. Kashyap Kirtikumar Patwa |
|
Designation : |
Director |
|
Address : |
19, Tejpal Building, Pn Gully, Kemps Corner, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
22.11.1956 |
|
Date of Appointment : |
04.07.2003 |
|
DIN No.: |
00205276 |
|
|
|
|
Name : |
Mr. Dilip Chandulal Bania |
|
Designation : |
Director |
|
Address : |
Flat No.503, 5th Floor, Gyaneshwar Apartments, CHS Limited
186, V S Marg Next to Kismat Cinema, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
16.02.1938 |
|
Date of Appointment : |
04.07.2003 |
|
DIN No.: |
02331411 |
KEY EXECUTIVES
|
Name : |
Mr. Santosh Palande |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Firdaus Homi Masani |
|
25000 |
|
Dilip Chandulal Bania |
|
25000 |
|
Kashyap Kirtikumar Patwa |
|
25000 |
|
Chandrik Modi |
|
25000 |
|
|
|
|
|
Total |
|
100000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Fire Protection Equipment. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Corporation Bank Commercial
Banking Branch, Kalbadevi Road, Gold Mohur Buidling,180, Princess Street,
Mumbai – 400002, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Umesh K Shah Chartered Accountants |
|
Address : |
K-302, Gokul Garden, Thakur Complex, Kandivli (East), Mumbai – 400101,
Maharashtra, India |
|
PAN No.: |
AAEPS5363C |
|
|
|
|
Related Party : |
· SEW Engineering (India) Private Limited · SEW Electrical Private Limited · Telemetics Integrated Solutions Private Limited · BPT Home Automation (India) Private Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Millions |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period
|
Particulars |
Numbers |
Amount (Rs. In
Millions) |
|
|
|
|
|
Equity Shares at the beginning of the year |
100000 |
1.000 |
|
Issued during the year |
0 |
0 |
|
Outstanding at the end of the period |
100000 |
1.000 |
Name of the shareholders holding more than 5% shares
|
Particulars |
Numbers |
Percentage
(%) |
|
|
|
|
|
F H Masani |
25000 |
25 |
|
Dilip Bania
|
25000 |
25 |
|
Kashyap Patwa |
25000 |
25 |
|
Chandrik Modi |
25000 |
25 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.534 |
7.824 |
3.766 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.534 |
8.824 |
4.766 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.840 |
0.000 |
1.318 |
|
|
2] Unsecured Loans |
18.615 |
18.169 |
21.092 |
|
|
TOTAL BORROWING |
20.455 |
18.169 |
22.410 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
29.989 |
26.993 |
27.176 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.763 |
1.093 |
1.184 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.029 |
0.017 |
0.040 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.734
|
16.610 |
23.982 |
|
|
Sundry Debtors |
39.795
|
42.562 |
31.312 |
|
|
Cash & Bank Balances |
1.717
|
4.506 |
0.183 |
|
|
Other Current Assets |
0.024
|
0.031 |
0.000 |
|
|
Loans & Advances |
5.181
|
6.021 |
2.075 |
|
Total
Current Assets |
59.451
|
69.730 |
57.552 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
29.123
|
37.907 |
28.748 |
|
|
Other Current Liabilities |
1.131
|
2.361 |
1.088 |
|
|
Provisions |
0.000
|
3.579 |
1.764 |
|
Total
Current Liabilities |
30.254
|
43.847 |
31.600 |
|
|
Net Current Assets |
29.197
|
25.883 |
25.952 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
29.989 |
26.993 |
27.176 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
97.440 |
144.398 |
94.495 |
|
|
|
Other Income |
1.996 |
2.908 |
0.106 |
|
|
|
TOTAL |
99.436 |
147.306 |
94.601 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
99.237 |
140.626 |
92.131 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.199 |
6.680 |
2.470 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.051 |
2.622 |
0.915 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.148 |
4.058 |
1.555 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.824 |
3.766 |
2.211 |
|
|
|
|
|
|
|
|
|
|
Tax Adjustment
for n earlier year appropriations |
0.563 |
7.824 |
3.766 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.585 |
7.824 |
3.766 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.48 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.15
|
2.75 |
1.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.20
|
4.63 |
2.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.33
|
9.43 |
4.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.76 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.32
|
7.03 |
11.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
1.59 |
1.82 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Trade Payable |
29.123
|
37.907 |
|
|
|
|
|
Total |
29.123
|
37.907 |
|
Particulars |
31.03.2010 (Rs. In Millions) |
|
|
|
|
Sundry Creditors – Goods |
27.020 |
|
Sundry Creditors – Expenses |
1.253 |
|
Sundry Creditors – Others |
0.475 |
|
|
|
|
Total |
28.748 |
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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 |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The Registered of the company has been shifted
from, 9, Ground Floor, Owners Industrial Estate, Gabriel Road, Mahim (West),
Mumbai – 400016, Maharashtra, India to the present address w.e.f. 24.09.2010.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10221030 |
|
Corporate
identity number of the company |
U74999MH2003PTC141171 |
|
Name of the
company |
SYSTEM PRODUCT
ENTERPRISES (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No.303/304
3rd Floor, Owners Industrial Estate, Gabriel Road, Mahim (West), Mumbai –
400016, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Others: Current
Assets |
|
Particular of
charge holder |
Corporation Bank Commercial
Banking Branch, Kalbadevi Road, Gold Mohur Buidling,180, Princess Street,
Mumbai – 400002, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
COMMON DEED of hypothecation of movables/assets/debts |
|
Date of
instrument Creating the charge |
23.02.2012 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest BASE RATE+3.75
i.e.14.40% p.a. and/or As stipulated by bank from time to time Terms of
Repayment As stipulated by
Bank from time to time Margin Stock 25%, Book
Debts 40% and/or As stipulated by bank from time to time Extent and
Operation of the charge First
Charge(Present and Future)-Cash Credit =Rs.5.000 Millions and/or As
Stipulated by bank from time to time Others As Stipulated by bank
from time to time and As Per sanction letter of the Bank |
|
Short particulars
of the property charged |
First
Charge(Present and Future) on following assets:- (1) Hypothecation
of All Stock/ Goods/ Products/ inventories kept at borrower Place/ Premises/
Godown/ Sites/ Factories etc or whereeverelse or in transit (2) Hypothecation
of All Book Debts and Receivables (3) Hypothecation
of all current and movable assets of the company |
|
Particulars of
the present modification |
By this
modification limit increased from Rs.4.500 Millions to Rs.5.000 Millions,
Continued Security as given by original charge as well as by modifications,
Terms and conditions and as per sanction letter of the bank |
FIXED ASSETS:
· Printer
· EPBX Systems
· Air Conditioner
· Furniture and Fixture
· Computer
· Electric Installations
· Vehicles
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 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.54.53 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.