|
Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLODYNE PRO MEDIA LIMITED (w.e.f. 06.10.2009) |
|
|
|
|
Formerly Known
As : |
GLODYNE PROMEDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
801, Balarama, Bandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.03.2008 |
|
|
|
|
Com. Reg. No.: |
11-180387 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.500 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22300MH2008PLC180387 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of Global Media and News
aggregators and providing services of Consultants and Advisors on information
systems |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
market condition of the company seems to be unfavourable Latest financials i.e. 2010-2011 and 2011-2012 are not available. From
the available financial of 2010, it seems that business activity was not
carried out. Payment terms are unknown. The company can be considerd for business dealings on a secured 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 – 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 |
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.
LOCATIONS
|
Registered Office : |
801, Balarama, Bandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra |
|
Tel. No.: |
91-22-66963333 |
|
Fax No.: |
91-22-66963344 |
|
E-Mail : |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Annand Madhavrao Sarnaaik |
|
Designation : |
Director |
|
Address : |
402, Jairaj CHS. Limited, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1968 |
|
Date of Appointment : |
24.03.2008 |
|
DIN No.: |
00041562 |
|
|
|
|
Name : |
Ms. Divvyani Annand Sarnaaik |
|
Designation : |
Director |
|
Address : |
402, Jairaj CHS. Limited, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1971 |
|
Date of Appointment : |
24.03.2008 |
|
DIN No.: |
00041482 |
|
|
|
|
Name : |
Mr. Amit Prakash Jaste |
|
Designation : |
Additional Director |
|
Address : |
B 404, Chamunda Apartments, Dahisar (East), Mumbai-400068,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1980 |
|
Date of Appointment : |
15.07.2009 |
|
DIN No.: |
02085698 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
Address |
No. of Shares |
|
Annand Madhavrao Sarnaaik |
402, Jairaj CHS. Limited, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India |
6400 |
|
Divvyani Annand Sarnaaik |
402, Jairaj CHS. Limited, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India |
3600 |
|
Glodyne Global Private Limited, India |
801, Balarama, Bandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra, India |
33000 |
|
Glodyne Ventures and Holding Private Limited |
801, Balarama, Bandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra, India |
6000 |
|
Sixdyne Wealthserve Private Limited, India |
801, Balarama, Bandra Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra, India |
600 |
|
Amit Prakash Jaste |
B 404, Chamunda Apartments, Dahisar (East), Mumbai-400068, Maharashtra,
India |
150 |
|
Amit Prabhakar Deshmukh |
A 602, Abhirup CHS Limited, Plot No.64, Sector-2A, Koparkhairne, Navi Mumbai, Thane,
Maharashtra, India |
250 |
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2010
|
Category |
Percentage |
|
Bodies corporate |
79.20 |
|
Directors or relatives of Directors |
20.00 |
|
Other top fifty shareholders |
0.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of Global Media and News
aggregators and providing services of Consultants and Advisors on information
systems |
|
|
|
|
Products / Services : |
Global Media and Consultants / Advisors
on information systems |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nilesh M Kapadia and Company Chartered Accountants |
|
Address : |
104, Amrapali, R.S. Maharaj Marg (Teli Gali), Andheri (East), Mumbai-
400069,
Maharashtra, India |
|
Tel. No.: |
91-22-26830883 / 85 |
|
Fax No.: |
91-22-26830877 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No.: |
AAEFN0307K |
|
|
|
|
Holding Company : |
Glodyne Global Private Limited |
|
|
|
|
A Company under
the same management : |
·
Paradyne Infoservices Private Limited ·
Glodyne Ventures and Holding Private Limited ·
Sixdyne Wealthserve Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.013 |
0.198 |
|
|
4] (Accumulated Losses) |
(0.470) |
0.000 |
0.000 |
|
|
NETWORTH |
0.030 |
0.113 |
0.298 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.226 |
1.206 |
0.000 |
|
|
TOTAL BORROWING |
1.226 |
1.206 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.022 |
0.022 |
0.010 |
|
|
|
|
|
|
|
|
TOTAL |
1.278 |
1.341 |
0.308 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.086 |
0.106 |
0.127 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
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 |
1.217
|
1.293 |
1.292 |
|
|
Cash & Bank Balances |
0.014
|
0.001 |
0.087 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.200
|
1.200 |
0.000 |
|
Total
Current Assets |
2.431
|
2.494 |
1.379 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.137
|
1.165 |
1.117 |
|
|
Other Current Liabilities |
0.021
|
0.013 |
0.000 |
|
|
Provisions |
0.081
|
0.081 |
0.081 |
|
Total
Current Liabilities |
1.239
|
1.259 |
1.198 |
|
|
Net Current Assets |
1.192
|
1.235 |
0.181 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.278 |
1.341 |
0.308 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
1.243 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
0.000 |
0.000 |
1.243 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating and other expenses |
0.376 |
0.152 |
0.953 |
|
|
|
TOTAL (B) |
0.376 |
0.152 |
0.953 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
(0.376) |
(0.152) |
0.290 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.087 |
0.002 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.463) |
(0.154) |
0.290 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.020 |
0.020 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(0.483) |
(0.174) |
0.290 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.012 |
0.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(0.483) |
(0.186) |
0.199 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.013 |
0.199 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.470) |
0.013 |
0.199 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(13.64) |
(18.60) |
19.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.00
|
0.00 |
16.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
23.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.19)
|
(6.69) |
19.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(16.10)
|
(1.54) |
0.97 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
40.87
|
10.67 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.96
|
1.98 |
1.15 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
Background:
Subject was
incorporated on 24th March, 2008. The Company is in the business of Global
Media and News aggregators and providing services of Consultants and Advisors on
information systems. The Company was originally formed as a Private Limited
Company named as “Glodyne Promedia Private Limited”. Subsequently the company
was converted into Public Limited Company on August 13, 2009 and as a result
its name was changed to ‘Glodyne Promedia Limited’. The Company is a subsidiary
of Glodyne Global Private Limited.
Review of Operations
During the current
financial year, the Company had nil income and expenditure stood at Rs. 0.483 million
for the year ended March 31, 2010. The total loss incurred after tax amounts to
Rs. 0.483 million
Change of Name of the Company on Conversion to
Public Limited Company
The name of the
Company has been changed to Glodyne Promedia Limited on its conversion to a
public limited company. The name has been effected through the approval issued
by the Registrar of Companies, Mumbai, Maharashtra vide its Certificate of
Incorporation Consequent upon Change of Name on Conversion to Public Limited
Company dated October 06, 2009.
Increase In Share Capital
During the year
ended allotted 40,000 equity shares of the face value of Rs. 10/- has been
allotted by the Company to the eligible Allottees to meet the minimum
requirement of capital on conversion to a public limited company.
As a result of the
above, as on March 31, 2010, the Company’s paid up capital stood increased to
Rs. 0.500 millions consisting to 50,000/- equity shares of Rs. 10 each/-
Consequently the
paid-up capital of the Company during the year has been increased from 10,000
equity shares of Rs. 10/- each equity shares to 50,000 equity shares of Rs.
10/- each as on the date of this Report.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2010 (Rs.
in Millions) |
31.03.2009 (Rs.
In Millions) |
|
from Companies under the same management |
0.676 |
0.600 |
|
-from Others |
0.550 |
0.606 |
|
Total |
1.226 |
1.206
|
FIXED ASSETS
·
Computer
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.53.87 |
|
|
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
11 |
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.