MIRA
INFORM REPORT
|
Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL POWERSOURCE (INDIA) PRIVATE LIMITED (w.e.f.11.09.2008) |
|
|
|
|
Formerly Known
As : |
FIAMM GLOBAL (INDIA) PRIVATE LIMITED |
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Registered
Office : |
C-10, Satyam Shopping Centre, M. G. Road, Ghatkopar (East),
Mumbai-400077, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of Incorporation
: |
04.08.2006 |
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Com. Reg. No.: |
11-163562 |
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Capital
Investment / Paid-up Capital : |
Rs.50.000 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U74140MH2006PTC163562 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMF04740B |
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PAN No.: [Permanent Account No.] |
AAACF9963C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader,
Importer and Distributor of UPS and Batteries |
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|
No. of Employees
: |
240 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 544244 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject was established as a proprietory concern in the year 1989 with
the name “Vinit Impex” and got converted into private limited in the year
2006. It is an established company having moderate track. Profitability of
the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit (BBB-) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
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|
|
|
Rating |
Letter of Guarantee (A3) |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
04.01.2012 |
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 PARTED BY
|
Name : |
Mr. Sahil Kumar |
|
Designation : |
Business and Finance Head |
|
Contact No.: |
91-22-40460635 |
|
Date : |
30.03.2013 |
LOCATIONS
|
Registered Office : |
C-10, Satyam Shopping Centre, M. G. Road, Ghatkopar (East),
Mumbai-400077, Maharashtra, India |
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Tel. No.: |
91-22-25110646 / 40460646 |
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Fax No.: |
91-22-25111042 / 21021042 |
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E-Mail : |
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Website: |
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Area: |
3000sq.fts |
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Location: |
Owned |
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Warehouse: |
B S 67, Mitali Commercial Complex, Rehnal Village, Anjur Phata,
Bhiwandi, India |
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Area: |
10000sq.fts |
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Location: |
Owned |
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Branch Offices: |
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SPECIAL ECONOMIC ZONES : |
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DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Dipak Dhirajlal Gandhi |
|
Designation : |
Director |
|
Address : |
405, Sahyadri, Neelkanth Valley, Ghatkopar (East), Mumbai-400087,
Maharashtra, India |
|
Date of Birth/Age : |
07.08.1955 |
|
Date of Appointment : |
04.08.2006 |
|
DIN No.: |
00004313 |
|
|
|
|
Name : |
Mr. Gopinath Muthukrishnan |
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Designation : |
Director |
|
Address : |
Sanskruti, Block 3, TI 27, Santhnalakshmi Street, Rajeshwari Nagar, Selaiyur,
Chennai-600073, Tamilnadu, India |
|
Date of Birth/Age : |
15.12.1950 |
|
Date of Appointment : |
07.08.2006 |
|
DIN No.: |
01272977 |
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|
|
|
Name : |
Mr. Ashwin Kisandas Parekh |
|
Designation : |
Director |
|
Address : |
Wing A, Flat No.201, 2nd Floor, Nityanand Krupa, M G Raod,
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
|
Date of Birth/Age : |
18.07.1956 |
|
Date of Appointment : |
10.11.2011 |
KEY EXECUTIVES
|
Name : |
Mr. Fernandes |
|
Designation : |
Finance Executive |
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|
|
|
Name : |
Mr. Sahil Kumar |
|
Designation : |
Business and Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Dipak Dhirajlal Gandhi |
2550000 |
|
Dipak Dhirajlal Gandhi HUF |
2437500 |
|
Varsha Gandhi |
12500 |
|
Total |
5000000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader,
Importer and Distributor of UPS Batteries |
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Imports : |
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Products : |
Batteries |
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Countries : |
·
Malaysia
·
China ·
Korea
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
|
No. of Employees : |
240 (Approximately) |
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Bankers : |
Union Bank of India Limited, M. G. Road, Ghatkopar (East), Mumbai -
400077, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Nitin Pota and Associates Chartered Accountant |
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Address : |
D-204, Kailas Esplanade, L.B.S. Road, Ghatkopar (West), Mumbai-400086,
Maharashtra, India |
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Tel No.: |
91-22-25000590 |
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Fax No.: |
91-22-25005087 |
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Pan No.: |
AADPP2784R |
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Sister Concern : |
·
Global Tele Tower (India) Private Limited Address: C-8, M G Road,
Ghatkoper ·
Rocket Batteries India Private Limited |
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Group Company: |
Global Nishi Teleservices Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000
Millions |
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|
|
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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 |
50.000 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
86.061 |
69.979 |
39.784 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
136.061 |
119.979 |
89.784 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
373.890 |
194.400 |
34.495 |
|
|
2] Unsecured Loans |
53.085 |
54.364 |
16.124 |
|
|
TOTAL BORROWING |
426.975 |
248.764 |
50.619 |
|
|
DEFERRED TAX LIABILITIES |
1.456 |
1.057 |
0.636 |
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TOTAL |
564.492 |
369.800 |
141.039 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
18.752 |
14.797 |
10.185 |
|
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Capital work-in-progress |
30.838 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
1.691 |
1.691 |
1.691 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
91.109
|
110.555
|
170.533 |
|
|
Sundry Debtors |
480.205
|
529.815
|
394.169 |
|
|
Cash & Bank Balances |
177.866
|
125.157
|
149.392 |
|
|
Other Current Assets |
36.072
|
37.359
|
0.000 |
|
|
Loans & Advances |
8.117
|
5.586
|
48.408 |
|
Total
Current Assets |
793.369
|
808.472
|
762.502 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
254.360
|
418.750
|
597.709 |
|
|
Other Current Liabilities |
1.975
|
5.045
|
0.000 |
|
|
Provisions |
23.823
|
31.365
|
35.889 |
|
Total
Current Liabilities |
280.158
|
455.160
|
633.598 |
|
|
Net Current Assets |
513.211
|
353.312
|
128.904 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.259 |
|
|
|
|
|
|
|
|
TOTAL |
564.492 |
369.800 |
141.039 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2285.131 |
2437.878 |
|
|
|
|
Other Income |
13.699 |
7.059 |
|
|
|
|
TOTAL (A) |
2298.830 |
2444.937 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
2027.974 |
2173.525 |
|
|
|
|
Changes in Inventories of Finished Goods |
19.445 |
59.979 |
NA |
|
|
|
Employee Benefits Expenses |
39.188 |
27.002 |
|
|
|
|
Other Expenses |
101.811 |
96.698 |
|
|
|
|
TOTAL (B) |
2188.418 |
2357.204 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
110.412 |
87.733 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.094 |
40.758 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.318 |
46.975 |
45.178 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.847 |
1.357 |
0.922 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.471 |
45.618 |
44.256 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
10.389 |
15.423 |
14.131 |
|
|
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|
|
|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
16.082 |
30.195 |
30.125 |
|
%20PRIVATE%20LIMITED%20-%20216320%2003-Apr-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20216320%2003-Apr-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.70
|
1.23 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.16
|
1.87 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.26
|
5.54 |
5.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.38 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.14
|
2.07 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
1.77 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
Creditors for Goods |
239.358
|
405.239
|
|
|
Creditors for Expenses |
15.002
|
13.511
|
|
%20PRIVATE%20LIMITED%20-%20216320%2003-Apr-2013_files/image003.gif){kind=small}
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
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 |
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 |
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 |
No |
|
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 |
Yes |
FORM 8
|
Corporate
identity number of the company |
U74140MH2006PTC163562 |
|
Name of the
company |
GLOBAL
POWERSOURCE (INDIA) PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
C-10, Satyam Shopping Centre, M. G. Road, Ghatkopar (East), Mumbai-400077, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
UNION BANK OF INDIA |
|
Nature of
instrument creating charge |
Hypothecation of
Vehicle Agreement Dated 28.06.2012 |
|
Date of
instrument Creating the charge |
28/06/2012 |
|
Amount secured by
the charge |
RS. 0.800 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 12.5%. Terms of repayment Repayable in 36
Equated Monthly Installment of Rs. 26762.00 commencing from July 2012 month. Margin As stipulated by
the Bank from time to time. Extent and operation of the charge Term Loan of
Rs.0.800 Million is sanctioned fir the purpose of Purchase of New Skoda Rapid
Car under Union Miles Scheme. |
|
Short particulars
of the property charged (Including location of the property) |
New Skoda Rapid
Car |
FIXED ASSETS
·
Mobile
·
Computer
·
Air Conditioner
·
Battery Racks
·
Battery Testing Equipment
·
Weighting Scales
·
Projector
·
Fax Machine
·
Furniture
·
Camera
·
Cycle
·
Electrical Fittings
·
Office Equipments
·
Car
·
Scooter and Bike
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.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.