|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
I.G. INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H.No.1294, Sector 19B, Chandigarh – 160 019 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.02.2010 |
|
|
|
|
Com. Reg. No.: |
53-032009 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15400CH2010PTC032009 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Importer of Fresh Fruits. |
|
|
|
|
No. of Employees
: |
Not Available |
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 141000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during February 2010, it has
commenced its business activities from 1st April 2012. Mr. Prakash, Senior Accountant has also confirmed that the company has
achieved sizeable turnover of Rs.2480.000 millions during 2013 and expects
better growth in coming years but these financials are not verified. The company has a sister concern which is a partnership firm by the
name ‘I.G. International’. The business of the partnership firm is
transferred into the company during 2012. However, the partnership firm is
still active and has achieved turnover of Rs.1409.900 millions and
Rs.1950.000 millions during 2011 and 2012 respectively. Trade relations are improving. Business is active. Payment terms are
unknown in absence of verified financials. The company can be considered for business dealings with great
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Prakash |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-22-66272000 |
|
Date : |
24.04.2013 |
LOCATIONS
|
Registered Office : |
H.No.1294, Sector 19B, Chandigarh – 160 019, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Unit No.802, Blue Chip Building, Plot No.D-263, TTC MIDC Area, Thane Belapur
(R) Turble Naka, Turbhe, Navi Mumbai, Maharashtra, India |
|
|
|
|
Sales Unit : |
F-85/86, A.P.M.C. Fruit Market, Sector-19, Vashi, Navi Mumbai – 400
705, Maharashtra, India |
|
Tel. No.: |
91-22-66272000 |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Gianchand Ramchand Arora |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.203, 2nd Floor, NRI Complex, B-26, Nerul, Navi
Mumbai, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.02.2010 |
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|
DIN No.: |
01934634 |
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Other Directorship :
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|
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Name : |
Mr. Sanjay Gianchand Arora |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.203, 2nd Floor, NRI Complex, B-26, Nerul, Navi
Mumbai, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
03.02.2010 |
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|
DIN No.: |
02061347 |
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Other Directorship :
|
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Tarun Arora |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No.203, 2nd Floor, NRI Complex, B-26, Nerul, Navi Mumbai,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.05.1986 |
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Date of Appointment : |
04.10.2011 |
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DIN No.: |
03314408 |
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Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Prakash |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Gianchand Ramchand Arora |
|
1000 |
|
Sanjay Gianchand Arora |
|
1000 |
|
Total |
|
2000 |
As on 12.012.2012
|
Names of Allottees |
|
No. of Shares |
|
Gianchand Ramchand Arora |
|
300000 |
|
Sanjay Gianchand Arora |
|
300000 |
|
Tarun Arora |
|
500 |
|
Total |
|
600500 |
As on 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Fresh Fruits. |
|
|
|
|
Exports : |
|
|
Countries : |
·
UK ·
Dubai |
|
|
|
|
Imports : |
|
|
Countries : |
·
USA ·
Australia ·
China ·
Iran ·
New Zealand |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Axis Bank Limited, Agri Business Centre, Office
No.204/203, Stellar Enclave, Second Floor, Pune – 411 007, Maharashtra, India ·
HDFC Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.K. Bassi and Associates Chartered Accountants |
|
Address : |
SCO 1130-31, Sector 22-B, Chandigarh – 160 022, India |
|
Mobile No.: |
91-9417027223 |
|
Income-tax
PAN of auditor or auditor's firm : |
AFPPB9636P |
|
|
|
|
Sister Concern : |
I.G. International |
|
|
|
|
Group Companies : |
·
I.G. Humi Fresh Cold ·
I.G. Humi Fresh Private Limited, Thane ·
Procons Solutions Private Limited |
CAPITAL STRUCTURE
After 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1200000 |
Equity Shares |
Rs.50/- each |
Rs.60.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
602500 |
Equity Shares |
Rs.50/- each |
Rs.30.125
millions |
|
|
|
|
|
As on 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1200000 |
Equity Shares |
Rs.50/- each |
Rs.60.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Shares |
Rs.50/- each |
Rs.0.100
million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money Pending Allotment |
35.150 |
8.617 |
0.150 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
35.250 |
8.717 |
0.250 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
35.250 |
8.717 |
0.250 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
21.306 |
2.397 |
0.000 |
|
|
Capital work-in-progress |
14.229 |
6.329 |
0.017 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.909
|
0.004 |
0.116 |
|
|
Other Current Assets |
0.015
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.739
|
0.000 |
0.000 |
|
Total
Current Assets |
2.663
|
0.004 |
0.116 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
2.917
|
0.013 |
0.013 |
|
|
Provisions |
0.031
|
0.000 |
0.000 |
|
Total
Current Liabilities |
2.948
|
0.013 |
0.013 |
|
|
Net Current Assets |
(0.285)
|
(0.009) |
0.103 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.130 |
|
|
|
|
|
|
|
|
TOTAL |
35.250 |
8.717 |
0.250 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.00 |
0.00 |
0.00 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
2480.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.3000.000 millions
The above information has been parted by Mr. Prakash (Senior
Accountant).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90
|
0.31 |
8.92 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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) |
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 |
-- |
|
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 office of the company has been shifted from SCF 22, Subzi
Mandi, Sector 26, Chandigarh – 160 026 to the present address w.e.f.
30.09.2010.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U15400CH2010PTC032009 |
|
Name of the company |
I.G. INTERNATIONAL PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
H.No.1294, Sector 19B, Chandigarh – 160 019, India E-Mail: dmslchd@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Any interest in immovable property Movable property (not being pledge) |
|
Particular of charge holder |
Axis Bank Limited,
Agri Business Centre, Office No.204/203, Stellar Enclave, Second Floor, Pune
– 411 007, Maharashtra, India E-Mail: mukund.keny@axisbank.com |
|
Nature of description of the instrument
creating or modifying the charge |
Composite hypothecation deed (Current
Assets, Movable and Plant and Machinery) |
|
Date of instrument Creating the charge |
09.10.2012 |
|
Amount secured by the charge |
Rs.6.750 millions |
|
Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of Interest: At 2.50% above Axis Bank's Base Rate Terms of Repayment: Term loan V: to be repaid in 18 monthly
principal installment, out of which first 17 principal installments are of
Rs.0.097 million each and last one of Rs.0.096 million plus interest thereon
will fall due on 30.06.2014 Term Loan VI: to be repaid in 50 monthly
installments will fall due on 30.06.2014 Margin: Term Loan V: 50.93% Extent and Operation of the charge: 100% |
|
Short particulars of the property charged |
Hypothecation of entire current assets and
movable fixed assets of the company of Patna unit both present and future
created out of bank finance. |
FIXED ASSETS:
·
Building
·
Land
·
Flat
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 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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
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 |
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.