MIRA INFORM REPORT
|
Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
JBL SAKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No H-12, Additional MIDC, Kudavali, Murbad, Thane-421401,
Maharashtra |
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|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
18.05.2001 |
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|
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|
Com. Reg. No.: |
11-132029 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21014MH2001PTC132029 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ04442E MUMJ06361F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Packaging Products. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 77000 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered normal 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 – 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 : |
Plot No H-12, Additional MIDC, Kudavali, Murbad, Thane-421401,
Maharashtra, India |
|
Tel. No.: |
91-25-24244425 |
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Fax No.: |
91-25-22254122 |
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E-Mail : |
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Factory : |
Plot No. H12, ADDL MIDC, |
|
Tel. No.: |
91-22-28771346/ 91-2524-224425 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Gorantla Ravichandran |
|
Designation : |
Director |
|
Address : |
1568, J-Block, 16th Main Road, Anna Nagar (West), Chennai-600040, Tamilnadu, India |
|
Date of Birth/Age : |
08.05.1971 |
|
Date of Appointment : |
30.08.2004 |
|
DIN No.: |
00075675 |
|
Other Directorship: |
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|
|
|
|
Name : |
Mr. Gorantla Venkatachalapathi Balaji |
|
Designation : |
Director |
|
Address : |
Plot No. 1888, I Block, 25th Street, Tiruvalluvar, Kudiyiruppu, Anna Nagar, Chennai-600040, Tamilnadu, India |
|
Date of Birth/Age : |
18.08.1973 |
|
Date of Appointment : |
30.08.2004 |
|
DIN No.: |
00075754 |
|
|
|
|
Name : |
Mr. Venkata Gorantla Chalapathi |
|
Designation : |
Director |
|
Address : |
New No. 36, Thiruvalluvar, Kudiyiruppu, Villivakkam, Chennai-600040, Tamil Nadu, India |
|
Date of Birth/Age : |
08.08.1948 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00088079 |
|
|
|
|
Name : |
Mr. Srinivas Gorantla Sudhakar |
|
Designation : |
Managing Director |
|
Date of Appointment : |
18.05.2001 |
|
DIN No.: |
01922225 |
|
|
|
|
Name : |
Mr. Antara Mhapankar Amol |
|
Designation : |
Director |
|
Date of Appointment : |
18.05.2001 |
|
DIN No.: |
02923377 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Swetha M Patil |
|
30000 |
|
G.S Jwala |
|
2000 |
|
G.A Nandhini |
|
2000 |
|
G.R Reena |
|
2000 |
|
G.S.Vijayalakshmi |
|
2000 |
|
G.R. Mahalakshmi |
|
6500 |
|
G.R. Pragathi |
|
4000 |
|
G.V. Jayalakshmi |
|
8340 |
|
G. Sangeetha |
|
2500 |
|
G.B. Rachitha |
|
2000 |
|
G.S. Ahalya |
|
2000 |
|
G.V. Balaji |
|
500 |
|
G.V. Sathish Kumar |
|
500 |
|
G.R. Latharani |
|
8000 |
|
G.S. Sarojini |
|
7840 |
|
G.R Ravichandran |
|
3840 |
|
Balaji Trading Enterprises Private Limited, India |
|
394480 |
|
M.V. Patil |
|
20000 |
|
Achyutha G.R |
|
750 |
|
Sadavatra Pravan |
|
750 |
|
Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
78.90 |
|
Directors or relatives of Directors |
21.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Packaging Products. |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
The Karnataka Bank Limited, No.12, Vihang Garden, Pokhran Road - 1,, varthak Nagar, Thane (West), Mumbai - 400606, Maharashtra, India Karnataka Bank Limited, Matru Ashish CHS, S.V. Road, Balbharti Stop, Kandivali, Mumbai - 400067, Maharashtra, India |
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Facilities : |
(Of the above,Entire amount is guaranteed by Directors) |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Vijay T Parmar and Company Chartered Accountants |
|
Address : |
101, Madhav Baug Apartment, Gaushala Road, Opposite Bank of
Maharashtra, Shivajipath, Kalyan-421301Maharashtra, India |
|
Tel. No.: |
91-251-2311009 |
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Fax No.: |
91-251-2317655 |
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E-Mail : |
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|
PAN No.: |
ABOPP2499R |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.346 |
6.895 |
5.132 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19.346 |
11.895 |
10.132 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
25.506 |
23.554 |
27.185 |
|
|
2] Unsecured Loans |
8.672 |
1.622 |
2.408 |
|
|
TOTAL BORROWING |
34.178 |
25.176 |
29.593 |
|
|
DEFERRED TAX LIABILITIES |
0.112 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
53.636 |
37.071 |
39.725 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.260 |
19.873 |
21.178 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
10.790 |
1.243 |
1.158 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.579
|
8.043 |
10.651 |
|
|
Sundry Debtors |
13.937
|
11.081 |
11.289 |
|
|
Cash & Bank Balances |
0.289
|
0.099 |
0.071 |
|
|
Other Current Assets |
0.207
|
0.245 |
0.000 |
|
|
Loans & Advances |
4.109
|
3.665 |
2.783 |
|
Total
Current Assets |
30.121
|
23.133 |
24.794 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.289
|
3.060 |
2.334 |
|
|
Other Current Liabilities |
0.390
|
0.376 |
2.602 |
|
|
Provisions |
3.856
|
3.742 |
2.782 |
|
Total
Current Liabilities |
10.535
|
7.178 |
7.718 |
|
|
Net Current Assets |
19.586
|
15.955 |
17.076 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.313 |
|
|
|
|
|
|
|
|
TOTAL |
53.636 |
37.071 |
39.725 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
64.420 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
80.411 |
72.718 |
64.420 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
55.509 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
70.457 |
63.547 |
55.509 |
|
|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.954 |
9.171 |
8.911 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.590 |
2.336 |
2.446 |
|
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|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
4.114 |
3.579 |
2.779 |
|
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|
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|
|
|
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|
Less |
TAX |
1.333 |
1.116 |
0.880 |
|
|
|
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|
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|
PROFIT AFTER TAX |
2.781 |
2.463 |
1.899 |
|
|
|
|
|
|
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|
|
|
Earnings Per
Share (Rs.) |
5.56 |
4.93 |
3.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.46
|
3.39 |
2.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.71
|
8.32 |
6.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.30 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.77
|
2.12 |
2.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86
|
3.22 |
3.21 |
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 |
No |
|
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 office of the company has been shifted from 302/3, Marigold
Apartment, New Link Road, Opposite Shakti Motors Chincholi, Malad (West),
Mumbai – 400064, Maharashtra to the present address w.e.f. 19.03.2010
BUSINESS PERFORMANCE
The Company has made a considerable amount of progress. The Balance Sheet as at 31st March, 2012 and the Profit and Loss Account on that date are placed for approval and adoption. During the period under review the Company has earned a Profit of Rs. 2.781 millions
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
in Millions) |
|
Unsecured Loan |
8.372 |
1.322 |
|
Intercorporate Loan |
0.300 |
0.300 |
|
Total |
8.672 |
1.622 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U21014MH2001PTC132029 |
|
Name of the company |
JBL SAKS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Plot No H-12, Additional MIDC, Kudavali, Murbad, Thane-421401, Maharashtra, India Email: srinivas@blissgroup.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts |
|
Particular of charge holder |
Karnataka Bank Limited, B/13, Matru Ashish CHS, S.V. Road, Balbharti Stop, Kandivali, Mumbai - 400067, Maharashtra, India Email: plgdev@ktkbank.com |
|
Nature of instrument creating charge |
Hypothication Agreement |
|
Date of instrument Creating the charge |
19.01.2012 |
|
Amount secured by the charge |
Rs.4.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base rate + 4.75% (present base rate 11%) Terms of Repayment In 34 EMI of Rs.146601/- each Margin 25% Stock of Raw Material, Semi Finished Goods, Finalized goods and Book Debts |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Hypothecation of Stock of Raw Materials, Semi Finished and Finished Goods and Book Debts 2nd charge E.M. of Shop No.TA-2, Admg.832 sq.ft.carpet area on the 3rd floor in the commercial complex known as "Lake City Mall A", at Village and Talathi Saja Majiwada, Kapurbawdi, Taluka and Dist, Thane. 2nd charge on EM of Lease hold rights of Industrial Plot No.H-12, admsg 9731 sq.mtrs & factory building with built up area of 1625.76 sq.mtrs at additional Murbad Industrial Area. Thane Tq and Dist. Second Charge on Hypothecated Plant and machineries, Furniture and fixtures. Term deposits at Kandivali (West) Mumbai, Branch A/c Nos. (Includes cash margin) |
|
Whether any of the property or interest therein under reference is not registered in the name of the company |
Yes |
|
If yes, in whose name it is registered |
Shop TA 2 at Lake City Mall A in the name of Mr. G Sudhakar |
FIXED ASSETS
- Office Plant (A.C.)
- Building
- Vehicle
- Computer and Printer
- Fruniture and Fixture
- Land
- Office Equipment
- Plant and Machinery
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.54.28 |
|
|
1 |
Rs.82.06 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.