MIRA INFORM REPORT

 

 

Report Date :

05.12.2014

 

IDENTIFICATION DETAILS

 

Name :

HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD

 

 

Registered Office :

203 Nguyen Huy Tuong St Thanh Xuan Trung Ward, Thanh Xuan, Hanoi

 

 

Country :

Viet Nam

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

27.06.2012

 

 

Com. Reg. No.:

0100100495

 

 

Legal Form :

Private Company with Limited Liability

 

 

Line of Business :

Manufacturer of Textiles and Raw Material

 

 

No. of Employees :

800

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No complaints

Litigation :

Clear

 

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 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Viet Nam

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

VIET NAM - ECONOMIC OVERVIEW

 

Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 20% in 2013, while industry's share increased from 36% to more than 42% in the same period. State-owned enterprises account for about 40% of GDP. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession hurt Vietnam's export-oriented economy, with GDP in 2013 growing at 5%, the slowest rate of growth since 1999. In 2013, however, exports increased by more than 12%, year-on-year; several administrative actions brought the trade deficit back into balance. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value remained relatively stable in 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the government shifted from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing the restructuring of public investment, state-owned enterprises, and the banking sector, little perceptible progress has been made. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

 

Organization Name

:

HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD (1)

Address

:

203 Nguyen Huy Tuong St Thanh Xuan Trung Ward, Thanh Xuan, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-38584551

Facsimile

:

[+84] 4-38585392

Email

:

hatex_co@hn.vnn.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Textiles & Raw Material

 

Registered Legal Address

:

203 Nguyen Huy Tuong St Thanh Xuan Trung Ward, Thanh Xuan, Hanoi

Operational Address

:

203 Nguyen Huy Tuong St Thanh Xuan Trung Ward, Thanh Xuan, Hanoi

Trading Name

:

HATEX

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

0100100495

License Status

:

License exists - Normal.

Legal Form - Category

:

Private Company with Limited Liability

Legal Form

:

Company Limited

Legal Form - Abbreviation

:

CO LTD

Operational Status of Business

:

Normal

Date of Registration

:

27 Jun, 2012

Employees

:

800

Capital

:

US$ 11,871,973

Note

:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Do Van Minh

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Trinh Thi Hoa

Vietnamese

Chief Accountant

Finance

2

Ms. Truong Thi Phuong

Vietnamese

Deputy Managing Director

-

3

Mr. Tran Hong Tuy

Vietnamese

Deputy Managing Director

-

4

Ms. Bui Quang Vinh

Vietnamese

Deputy Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03801275

Name

:

Ms. Trinh Thi Hoa

 

Date of Birth

:

1976

 

Management Details - 2

Personal Unique Identifier

:

MI03801270

Name

:

Ms. Truong Thi Phuong

 

Date of Birth

:

1959

 

Management Details - 3

Personal Unique Identifier

:

MI03801274

Name

:

Mr. Tran Hong Tuy

 

Date of Birth

:

1961

 

Management Details - 4

Personal Unique Identifier

:

MI03801272

Name

:

Ms. Bui Quang Vinh

 

Date of Birth

:

1961

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03801269

Name

:

Mr. Do Van Minh

Date of Birth

:

1958

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD's reputation within the respective industry failed to reveal any adverse information.

 

NEGA-SCAN - ADVERSE DATA MONITORING

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 250,000,000,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

1

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

PEOPLE'S COMMITTEE OF HANOI , THE

Vietnam

n/a

n/a

100.00

Total

n/a

n/a

100.00

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

PAYMENT INFORMATION

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

70%

International Sales (Export)

30%

 

Annual Purchases Analysis

Percentage

Local Purchases

30%

Imports

70%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Export

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Received at time of transaction

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD - DUY TIEN, HA NAM

Branch Address

:

Dong Van Industrial Zone, Duy Tien, Ha Nam

 

Branch

:

HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD - NAM DINH, NAM DINH

Branch Address

:

371 Han Thuyen St Tran Te Xuong Ward, Nam Dinh, Nam Dinh

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

46,400,144

43,267,931

24,724

2012 Annual  

29,119,275

43,251,030

22,425

2013 Annual  

21,579,527

47,386,226

30,586

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

605,430,000,000

655,216,000,000

777,496,000,000

Non Current Assets(*)

295,841,000,000

245,472,000,000

221,789,000,000

Non Current Liabilities(*)

85,112,000,000

66,565,000,000

161,529,000,000

Other long term assets 

Total Assets(*)

901,271,000,000

900,688,000,000

999,285,000,000

Total Liabilities(*)

817,116,000,000

818,241,000,000

915,623,000,000

Current Liabilities(*)

732,004,000,000

751,676,000,000

754,094,000,000

Long term liabilities 

Shareholders Funds(*)

84,155,000,000

82,447,000,000

83,662,000,000

 

Current assets & short term investments

605,430,000,000

655,216,000,000

777,496,000,000

Cash & cash equivalents

3,935,000,000

8,089,000,000

13,615,000,000

Cash

3,935,000,000

8,089,000,000

13,615,000,000

Short term investments

1,010,000,000

1,510,000,000

-

Short term securities investments

1,010,000,000

1,510,000,000

-

Accounts receivable

195,373,000,000

150,865,000,000

247,905,000,000

Accounts receivable trade

170,396,000,000

82,297,000,000

178,065,000,000

Trade prepayment

18,837,000,000

10,319,000,000

11,449,000,000

Others receivables

6,140,000,000

58,249,000,000

58,391,000,000

I. Inventories

390,571,000,000

420,647,000,000

437,570,000,000

II. Inventories

390,571,000,000

420,647,000,000

437,570,000,000

I. Other short term asset

14,541,000,000

74,105,000,000

78,406,000,000

Prepaid expenses

1,143,000,000

70,133,000,000

73,773,000,000

VAT deductible

8,687,000,000

-

-

Other tax receivables

1,026,000,000

712,000,000

420,000,000

II. Other short term asset

3,685,000,000

3,260,000,000

4,213,000,000

Long term assets

295,841,000,000

245,472,000,000

221,789,000,000

Fixed assets

236,873,000,000

216,256,000,000

192,573,000,000

Tangible fixed assets

205,581,000,000

187,941,000,000

167,652,000,000

I. Cost

374,562,000,000

367,217,000,000

367,405,000,000

I. Accumulated depreciation

168,981,000,000

179,276,000,000

199,753,000,000

Finance lease assets

28,519,000,000

25,780,000,000

21,963,000,000

II. Cost

38,388,000,000

39,610,000,000

39,771,000,000

II. Accumulated depreciation

9,869,000,000

13,830,000,000

17,808,000,000

Construction in progress

2,773,000,000

2,535,000,000

2,958,000,000

Long term investments

58,968,000,000

29,216,000,000

29,216,000,000

Invest to subsidiary company

12,240,000,000

12,240,000,000

12,240,000,000

Invest to joint venture company

16,976,000,000

16,976,000,000

16,976,000,000

Other long term investments

29,752,000,000

-

-

Total assets

901,271,000,000

900,688,000,000

999,285,000,000

Liabilities

817,116,000,000

818,241,000,000

915,623,000,000

Current liabilities

732,004,000,000

751,676,000,000

754,094,000,000

Short term borrowings

560,571,000,000

581,935,000,000

522,181,000,000

Accounts payables-trade

154,372,000,000

96,359,000,000

155,166,000,000

Advances from customers

2,595,000,000

5,449,000,000

4,668,000,000

Taxes and payable to state budget

5,552,000,000

7,263,000,000

17,450,000,000

Payable to employees

3,519,000,000

7,290,000,000

5,216,000,000

Accrued expenses payable

-

1,219,000,000

212,000,000

Other payables

5,395,000,000

51,828,000,000

48,874,000,000

I. Bonus and welfare funds

-

333,000,000

327,000,000

Long term liabilities

85,112,000,000

66,565,000,000

161,529,000,000

Long term borrowings

85,112,000,000

66,565,000,000

161,529,000,000

I. Owner's equity

84,155,000,000

82,447,000,000

83,662,000,000

II. Owner's equity

82,448,000,000

82,447,000,000

83,662,000,000

Business capital

104,781,000,000

104,781,000,000

104,781,000,000

Foreign exchange differences

(1,014,000,000)

(1,163,000,000)

(1,151,000,000)

Business development funds

4,405,000,000

4,405,000,000

4,405,000,000

Financial reserved funds

655,000,000

655,000,000

655,000,000

Other funds from owner's equity

179,000,000

179,000,000

179,000,000

Retained earnings

(26,664,000,000)

(26,520,000,000)

(25,318,000,000)

Capital investment sources

106,000,000

110,000,000

111,000,000

Budget sources

1,707,000,000

-

-

II. Bonus and welfare funds

1,707,000,000

-

-

Total resources

901,271,000,000

900,688,000,000

999,285,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

966,515,000,000

606,399,000,000

455,071,000,000

Profit (Loss) Before Tax(*)

515,000,000

481,000,000

680,000,000

Profit After Tax attributable to Shareholders(*)

515,000,000

467,000,000

645,000,000

 

Gross sales

966,515,000,000

606,399,000,000

455,071,000,000

Net income

966,515,000,000

606,399,000,000

455,071,000,000

Cost of goods sold

837,985,000,000

557,236,000,000

409,972,000,000

Gross margin

128,530,000,000

49,163,000,000

45,099,000,000

Income from financial activities

3,476,000,000

1,963,000,000

2,014,000,000

Expenses from financial activities

97,341,000,000

40,541,000,000

36,390,000,000

In which: Interest expenses

97,341,000,000

40,541,000,000

36,390,000,000

Selling expenses

7,468,000,000

7,188,000,000

8,564,000,000

General & administration expenses

26,818,000,000

12,033,000,000

19,550,000,000

Net income from operating activities

379,000,000

(8,636,000,000)

(17,391,000,000)

Extraordinary income

136,000,000

9,117,000,000

18,071,000,000

Extraordinary gains

136,000,000

9,117,000,000

18,071,000,000

Net profit before tax

515,000,000

481,000,000

680,000,000

Income tax

-

14,000,000

35,000,000

Net profit after tax

515,000,000

467,000,000

645,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

-

(37.26)

(24.96)

Profitability 

Profit Margin (%)

0.05

0.08

0.14

Return on Equity (%)

0.61

0.57

0.77

Return on Assets (%)

0.06

0.05

0.06

Leverage 

Total Debt Equity (Times)

9.71

9.92

10.94

Current Debt Equity (Times)

8.70

9.12

9.01

Long Term Debt to Equity

1.01

0.81

1.93

Total Asset To Total Equity

10.71

10.92

11.94

Asset Management 

Total Assets Turnover (Times)

1.07

0.67

0.46

Fixed Assets Turnover (Times)

3.27

2.47

2.05

Liquidity 

Current Ratio

0.83

0.87

1.03

Based on the corporate laws of Vietnam, legal entities which are Private Company with Limited Liability are not required to make public disclosure of their annual financials. Although basic financials were obtained for reference.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD

Primary Business Activity

:

Manufacturer

Primary Industry

:

Textiles & Raw Material

 

Office Contact Details

Operating Address

:

203 Nguyen Huy Tuong St Thanh Xuan Trung Ward, Thanh Xuan, Hanoi

Tel

:

[+84] 4-38584551

 

:

[+84] 4-38585379

Fax

:

[+84] 4-38585392

Email

:

hatex_co@hn.vnn.vn

 

Tax / VAT Details

Tax Issuing Authority

:

Ministry of Finance

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

0100100495

 

Primary Products

Products / Materials / Services Description

Activity

Clothing apparel

Manufacturing, Exporting

Fabrics

Manufacturing, Exporting

Yarns

Manufacturing, Exporting

 

International Trade - Statistics  (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2011

n/a

13,920,043

13,920,043

2012

n/a

8,735,782

8,735,782

2013

n/a

6,473,858

6,473,858

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Apparel and accessories, nspf

2389

Manufacturing, Exporting

Apparel/Other Textile Products

2300

Manufacturing, Exporting

Fabricated textile products, nspf

2399

Manufacturing, Exporting

Narrow woven fabrics

2241

Manufacturing, Exporting

Textile goods, nspf

2299

Manufacturing, Exporting

Yarn, spun, of cotton, man-made fibers, and silk

2281

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Articles of apparel

4203100090

Manufacturing, Exporting

Articles of apparel & clothing accessories-knitted or crocheted

6100

Manufacturing, Exporting

Articles of apparel & clothing accessories-not knitted or crocheted

6200

Manufacturing, Exporting

Cotton, inc. yarns & woven fabrics thereof

5200

Manufacturing, Exporting

Knitted or crocheted fabrics

6002

Manufacturing, Exporting

Silk, inc. yarns & woven fabrics thereof

5000

Manufacturing, Exporting

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD is Manufacturing - Finished products.

Key products include :

Fabrics

Yarns

Clothing apparel


An integral part of the core business includes:

Distribution

 

Supplementary Business

In addition to the core business, HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - HANOI

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

THE SOUTH BRANCH OF HANOI

SWIFT Code

:

VBAAVNVX

 

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

VIETNAM BANK FOR AGRICULTURE

SWIFT Code

:

VBAAVNVX

 

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

SONG NHUE

SWIFT Code

:

ICBVVNVX

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Africa

Medium

Importing

Asia / Pacific

Medium

Exporting

Europe

Medium

Exporting

North America

Medium

Importing

China

Medium

Exporting

India

Medium

Exporting

Japan

Medium

Exporting

Thailand

Medium

Exporting

USA

Medium

Importing

 

COMPANY HISTORY

Date

Details

1993 - Jul

Established as a government enterprise.

2005 - Sep

Changed formation to one member limted liablity company.

 

QUALITY ACCREDITATION

Quality Accreditation Listings

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2000

 

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

28 Jul, 1993

108747

12 Sep, 2005

0104000226

 

REAL ESTATE OWNERSHIP

The following property / ies are owned by HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD :

Property Name

:

HANOI MAY 19TH TEXTILE ONE MEMBER CO LTD - THANH XUAN, HANOI

Type of Property

:

Office & Administration

Address

:

203 Nguyen Huy Tuong St Thanh Xuan Trung Ward, Thanh Xuan, Hanoi

Office Size

:

3,000 Square meters

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.88

UK Pound

1

Rs.97.02

Euro

1

Rs.76.13

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SHG

 

               

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.