MIRA
INFORM REPORT
|
Report Date : |
23.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
FAB-TECH WORKS AND CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
611-616, Swastik Disa Business Park, 6th Floor, LBS Marg,
Opposite Shreyas Cinema, Ghatkopar (West), Mumbai – 400086, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-195032 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29268MH2009PTC195032 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF05818B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF4137B |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Fabrication of Various Engineering Jobs/ Equipments
required for Petro Chemical Industries, Refineries etc. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 366000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. The management has seen a dip in its sales turnover as well as net profitability
during 2013. The company possesses an above average financial risk profile
driven by moderate net worth. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of promoters extensive experience in the industry, the company
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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
September 30, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
September 30, 2013 |
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 : |
Ms. Deepali |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-25001952 |
|
Date : |
22.11.2013 |
LOCATIONS
|
Registered/ Head Office/ Factory : |
611-616, Swastik Disa Business Park, 6th Floor, LBS Marg,
Opposite Shreyas Cinema, Ghatkopar (West), Mumbai – 400086, Maharashtra,
India |
|
Tel. No.: |
91-22-25001951/ 52/ 53 |
|
Fax No.: |
91-22-25007553 |
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E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.H-44/43/42/36, MIDC, Additional Murbad, Village – Kudavali, Murbad,
District Thane – 421401, |
|
Tel. No.: |
91-2524-222637/ 223384 |
|
Fax No.: |
91-2524-222638 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Jayprakash Narsingdas Lakhani |
|
Designation : |
Managing Director |
|
Address : |
Block-A 975/1950, Kailash Colony, |
|
Date of Birth/Age : |
10.10.1956 |
|
Date of Appointment : |
19.08.2009 |
|
DIN No.: |
02439745 |
|
|
|
|
Name : |
Mrs. Kusum Jayprakash Lakhani |
|
Designation : |
Director |
|
Address : |
Block-A 975/1950, Kailash Colony, |
|
Date of Birth/Age : |
07.12.1957 |
|
Date of Appointment : |
19.08.2009 |
|
DIN No.: |
02404501 |
|
|
|
|
Name : |
Mr. Aashish Jayprakash Lakhani |
|
Designation : |
Director |
|
Address : |
Block-A 975/1950, Kailash Colony, |
|
Date of Birth/Age : |
08.01.1985 |
|
Date of Appointment : |
19.08.2009 |
|
DIN No.: |
02379702 |
KEY EXECUTIVES
|
Name : |
Ms. Deepali |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Manoj U Patil |
|
Designation : |
Manager |
|
Address : |
Mohan Heights - II
Co-operative Housing Society, Building Royal D, Flat No. 102, Opposite
Golden Park, Khadakpada, Kalyan West,
Thane – 421301, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1980 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ATXPP5430H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Jayprakash Narsingdas Lakhani |
|
51300 |
|
Kusum Jayprakash Lakhani |
|
21850 |
|
Aashish Jayprakash Lakhani |
|
21850 |
|
|
|
|
|
Total |
|
95000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Fabrication of Various Engineering Jobs/ Equipments
required for Petro Chemical Industries, Refineries etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· Canara Bank, Nariandas Chambers, Dudh Naka, Near Old Bus Stop, Ulhasnagar (Head Office Bangalore) Ulhasnagar – 421005, Maharashtra, India · ICICI Bank Limited ·
State Bank of India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Auditors : |
|
|
Name : |
Hari Dudani and Company Chartered Accountant |
|
Address : |
C-5/10, |
|
Tel No.: |
91-251-2522374/ 2530165 |
|
PAN No.: |
ABDPD1707F |
|
Email : |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs.100/- each |
Rs.9.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs.100/- each |
Rs.9.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.500 |
9.500 |
9.500 |
|
(b) Reserves & Surplus |
82.020 |
70.992 |
27.887 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
91.520 |
80.492 |
37.387 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
64.933 |
49.633 |
18.262 |
|
(b) Deferred tax liabilities (Net) |
5.841 |
0.555 |
6.545 |
|
(c) Other long term liabilities |
0.000 |
0.535 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
70.774 |
50.723 |
24.807 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
92.226 |
98.976 |
49.480 |
|
(b) Trade payables |
70.713 |
117.643 |
58.971 |
|
(c) Other current liabilities |
32.779 |
57.749 |
46.192 |
|
(d) Short-term provisions |
0.000 |
0.466 |
0.439 |
|
Total Current
Liabilities (4) |
195.718 |
274.834 |
155.082 |
|
|
|
|
|
|
TOTAL |
358.012 |
406.049 |
217.276 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
91.996 |
89.599 |
78.692 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.400 |
0.400 |
0.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.036 |
0.048 |
0.072 |
|
Total Non-Current
Assets |
92.432 |
90.047 |
79.164 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
53.800 |
120.098 |
32.126 |
|
(c) Trade receivables |
150.457 |
152.792 |
73.065 |
|
(d) Cash and cash equivalents |
30.439 |
27.221 |
19.426 |
|
(e) Short-term loans and advances |
30.884 |
15.891 |
13.495 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
265.580 |
316.002 |
138.112 |
|
|
|
|
|
|
TOTAL |
358.012 |
406.049 |
217.276 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
628.833 |
671.052 |
406.428 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
21.905 |
52.116 |
38.070 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.887 |
9.011 |
17.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
11.028 |
43.103 |
20.846 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
116.08 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.13 |
12.85 |
17.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.65 |
1.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.72 |
1.85 |
1.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.15 |
0.89 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM BORROWINGS
(Rs.
In Millions)
|
Particular
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Canara Bank Term Loan 2940 |
1.110 |
1.600 |
1.600 |
|
Canara Bank Term Loan No.2941 |
2.160 |
2.160 |
2.160 |
|
Canara Bank Term Loan No.2942 |
1.500 |
1.500 |
0.000 |
|
|
|
|
|
|
Total |
4.770 |
5.260 |
3.760 |
|
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
From related parties |
62.011 |
42.487 |
|
|
|
|
|
Total |
62.011 |
42.487 |
CONTINGENT LIABILITIES
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
Guarantees |
41.352 |
75.870 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10285155 |
13/06/2012 * |
269,625,000.00 |
CANARA BANK |
NARIANDAS CHAMBERS, DUDH NAKA, NEAR OLD BUS STOP, ULHASNAGAR (HEAD OFFICE BANGLORE), ULHASNAGAR, MAHARASHTRA - 421005, INDIA |
B41250390 |
|
2 |
10266312 |
29/03/2012 * |
269,625,000.00 |
CANARA BANK |
NARIANDAS CHAMBERS, DUDH NAKA, NEAR OLD BUS STOP, ULHASNAGAR (HEAD OFFICE BANGLORE), ULHASNAGAR, MAHARASHTRA - 421005, INDIA |
B37411808 |
|
3 |
10225647 |
01/06/2010 |
6,400,000.00 |
CANARA BANK |
NARIANDAS CHAMBERS, DUDH NAKA, NEAR OLD BUS STOP, ULHASNAGAR (HEAD OFFICE BANGLORE), ULHASNAGAR, MAHARASHTRA - 421005, INDIA |
A88070552 |
* Date of charge modification
FIXED ASSETS:
· Computer
· Furniture and Fixture
· Land
· Office Equipment
· Plant and Machinery
· Vehicle
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.63.02 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
46 |
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.