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Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CRESCENT CHEMICALS |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1974 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000 millions |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business
: |
Trader, Exporter and Importer of Chemicals. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Dinesh Dutta |
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Designation : |
Accountant |
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Contact No.: |
91-22-67033555 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-22-67033555 |
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Fax No.: |
91-22-67033556 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Warehouse : |
Located At: ·
·
Bhiwandi, Mumbai, |
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Branch Office : |
Located At: ·
Mumbai ·
Ahmedabad ·
Chennai ·
Silvassa ·
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PARTNERS
|
Name : |
Mr. Ashish Shah |
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Designation : |
Partner |
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Name : |
Mr. Gunwantrai D Shah |
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Designation : |
Partner |
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Name : |
Mr. Ashit G Shah |
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Designation : |
Partner |
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Name : |
Mrs. Kokila G Shah |
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Designation : |
Partner |
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Name : |
Mr. Aditya A Shah |
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Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Dutta |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Chemicals. |
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|
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Products : |
·
ABS ·
Melamine ·
Acetic Acid Glacial ·
Methacrylic Acid ·
Acetone ·
Methanol ·
Acetonitrile ·
Methyl Acrylate ·
Acrylates (BUTYL / ETHYL / METHYL) ·
Methyl Ethyl Ketone ·
Acrylic Acid ·
Methyl Iso Butyl Ketone ·
Acrylonitrile ·
Methyl Methacrylate Monomer ·
Adipic Acid ·
Methylene Chloride ·
Benzene ·
Mix-Xylene (SOLVENT) ·
Bisphenol-A ·
Mono Ethylene Glycol ·
Butyl Acetate ·
MP Diol Glycol ·
Butyl Acrylate ·
Napthalene Crude ·
Butyl Glycol ·
N-Butanol ·
Butylated Hydroxy Toluene ·
N-Hexane ·
Caprolactum ·
N-Paraffin ·
Caustic Soda Flakes ·
N-Propanol ·
Caustic Soda Liquid ·
Ortho Xylene ·
Chloroform ·
Pentaerithritol ·
Cresols (META / ·
Pentylol ·
Cyclo Hexane ·
Phenol ·
Cyclohexanone ·
Phosphoric Acid ·
Di-Ethylene Glycol ·
Phthalic Anhydride ·
Di-Iso Propyl Ether ·
Poly Methyl Methacrylate (PMMA) ·
Di-Methyl Formam Ide ·
Polycarbonate ·
Di-Propylene Glycol ·
Polyethylenes (LDPE/HDPE/LLDPE) ·
2-Ethyl Hexyl Acrylate ·
Polypropylene ·
Epichlorohydrin ·
Polystyrene ·
Ethanol ·
Potassium Carbonate ·
Ethanol Amines (MONO / DI) ·
Propylene Glycol ·
Ethyl Acetate ·
PVC Resin ·
Ethyl Acrylate ·
Sabutol ·
Ethylene Di-Amine ·
Solvent C9 ·
Ethylene Dichloride ·
Styrene Monomer ·
Iso Butanol ·
Tetraethylene Pentamine (TEPA) ·
Iso Propyl Acetate ·
Toluene ·
Iso Propyl Alcohol ·
Tri-Ethylene Tetramine ·
LAB ·
Vinyl Acetate Monomer (VAM) ·
Maleic Anhydride |
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Exports : |
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Products : |
Chemicals |
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Countries : |
·
·
European Countries |
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Imports : |
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Products : |
Chemicals |
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Countries : |
·
·
·
·
·
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Terms : |
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Selling : |
L/C and Credit (30 days) |
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Purchasing : |
L/C and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
·
Union Bank of ·
HDFC Bank, Mumbai, ·
Bank of ·
Standard Chartered Bank, Mumbai, |
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Facilities : |
Cash Credit Rs.170.000 millions (Standard Chartered Bank) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chhajad and Doshi Associates Chartered Accountants |
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Sister Concerns : |
·
Crescent Organics Private Limited ·
Asian Solo Chem Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
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Capital Investment : |
|
|
Owned : |
Rs.100.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.100.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
920.000 |
760.000 |
Expected Sales (2011-2012) : Rs.750.000 millions (Due to Foreign
Fluctuations)
The above information has been parted by Mr. Dinesh Dutta
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
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1. |
Year of Establishment |
YES |
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2. |
Locality of the firm |
YES |
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3. |
Constitutions of the firm |
YES |
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4. |
Premises details |
YES |
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5. |
Type of Business |
YES |
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6. |
Line of Business |
YES |
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7. |
Promoter’s background |
-- |
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8. |
No. of employees |
YES |
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9. |
Name of person contacted |
YES |
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10. |
Designation of contact person |
YES |
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11. |
Turnover of firm for last two years |
YES |
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12. |
Profitability for last three years |
NO |
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13. |
Reasons for variations <> 20% |
-- |
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14. |
Estimation for coming financial year |
YES |
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15. |
Capital in the business |
YES |
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16. |
Details of sister concerns |
YES |
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17. |
Major Suppliers |
NO |
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18. |
Major Customers |
NO |
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19. |
Payment terms |
YES |
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20. |
Export / Import details (is applicable) |
YES |
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21. |
Market information |
-- |
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22. |
Litigation that the firm / promoter involved in |
-- |
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23. |
Banking Details |
YES |
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24. |
Banking facility details |
YES |
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25. |
Conduct of the banking account |
-- |
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26. |
Buyer visit details |
-- |
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27. |
Financials, if provided |
NO |
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28. |
Incorporation details, if applicable |
-- |
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29. |
Last accounts filed at ROC |
-- |
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30. |
Major Shareholders, is available |
-- |
WEB DETAILS
Subject, the flagship company of The Crescent Group was established in
1964 in Mumbai as a trader in Industrial Chemicals, Solvents and Polymer
Products.
With the expansion of business, in trading and related activities
keeping in view of the objective of concentrating on market development of
agency products, enlarging the range of trading items and strengthening the
import, export and indenting facility an associate company was incorporated in
Feb., 1991 in the name of Crescent
Organics Private Limited
Products marketed by Crescent
reach almost all the segments of the Indian Industry with the marketing network
in all major cities viz., Mumbai,
Apart from booking indents/orders on behalf of their customers, Crescent renders ancillary services
including storage in shore tanks at terminal ports, custom clearance, cargo
survey and arranging deliveries as per customers requirements. Transparency of Crescent business policy makes the
users feel secure and satisfied.
The extensive experience accumulated over the years has helped Crescent to maintain its outstanding
position in the field of chemical trade and distribution. Determination to move
forward in the face of odds, optimistic out-look and never sagging urge to
improve on the performance year to year, have been a combining factor in
achieving the status that Crescent
is currently enjoying.
Looking ahead they are confident enough in their ability to exploit new
market opportunities brought about by the changing global scenario. It will be
their constant endeavor to provide better and improved services to both their
customers and principals / suppliers, which is the key strength to their
success.
Human Resource is the most valuable asset of Crescent. Crescent's performance and resulting productivity
is an indicator of the high satisfaction level of its employees. For the
betterment of the Human Resources, Crescent
has laid down a vision and mission. Crescent
has projected vision to integrate management skills with future growth.
In order to benefit from fast growing globalisation of Indian Trade, the
Group has acquired in the year 2000 a major share holding in Kemsol
Limited, an UAE based multi-product trading company having state of
the art warehousing facility in Jebel Ali Free Trade Zone and caters to middle
eastern customers.
Recently Crescent has
also invested in a company based in Hamriyah Free Zone Sharjah, UAE responsible
for developing Tank Terminal for petroleum and chemical products. This is in
line with Crescent's long-term
plan to diversify in business of allied in nature and compliments its existing
business.
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.48.94 |
|
|
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.65.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
50 |
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.