MIRA INFORM REPORT

Report Date :

20.02.2014

IDENTIFICATION DETAILS

Name :	COAST TO COAST DESIGNS PRIVATE LIMITED
Registered Office :	203-208, Aditya Chamber - I, D Block, Central Market, Prashant Vihar, New Delhi - 110085
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.12.2007
Com. Reg. No.:	55-171042
Capital Investment / Paid-up Capital :	Rs. 14.955 Millions
CIN No.: [Company Identification No.]	U17121DL2007PTC171042
TAN No.: [Tax Deduction & Collection Account No.]	DELC09943D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Wooden Products.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 240000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Profit of the company dipped during financial year 2013. Borrowings of the company also seems to be increasing. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

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INDIAN ECONOMIC OVERVIEW

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

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. Naresh Sharma
Designation :	Accounts Head
Contact No.:	91-9873555497
Date :	19.02.2014

LOCATIONS

Registered Office :	203-208, Aditya Chamber - I, D Block, Central Market, Prashant Vihar, New Delhi – 110085, India
Tel. No.:	91-11-47079901 (10 lines)
Mobile No.:	91-9873555497 (Mr. Naresh Sharma)
Fax No.:	91-11-47079910
E-Mail :	office@coasttocoast.in rocddc@in.com gopalkgupta2003@yahoo.com naresh@coasttocoast.in
Website :	http://www.coasttocoast.in

DIRECTORS

AS ON 26.09.2013

Name :

Mr. Vinit Agarwal

Designation :

Director

Address :

157, Anand Vihar, Pitamoura, Delhi-110034, India

Date of Birth/Age :

08.01.1976

Date of Appointment :

04.12.2007

DIN No.:

00021366

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U20299DL1997PTC086001	DONYI POLO PROPERTIES PRIVATE LIMITED	Director	20/03/1997	20/03/1997	01/05/2007	Active	NO
2	U20221DL1998PTC091642	DONYI POLO TIMBERS PRIVATE LIMITED.	Director	13/01/1998	13/01/1998	-	Active	NO
3	U70109DL2006PTC152897	DONYI POLO INFRASTRUCTURE PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
4	U51109DL2007PTC160921	EXOTIC VENEERS PRIVATE LIMITED	Director	21/03/2007	21/03/2007	-	Active	NO
5	U17121DL2007PTC171042	COAST TO COAST DESIGNS PRIVATE LIMITED	Director	04/12/2007	04/12/2007	-	Active	NO

Name :

Mr. Gautam Baid

Designation :

Director

Address :

91, Sanik Vihar, Pitampura, Delhi-110034, India

Date of Birth/Age :

22.11.1975

Date of Appointment :

04.12.2007

DIN No.:

00021400

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U20221DL1998PTC091642	DONYI POLO TIMBERS PRIVATE LIMITED	Director	13/01/1998	13/01/1998	-	Active	NO
2	L40200WB1995PLC068251	EASTERN GASES LIMITED	Director	16/06/1998	16/06/1998	31/01/2008	Active	NO
3	U74899DL1994PTC062397	AROMA FINANCE AND PORTFOLIO PRIVATE LIMITED	Director	10/05/2004	10/05/2004	-	Active	NO
4	U70109DL2006PTC152897	DONYI POLO INFRASTRUCTURE PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
5	U51109DL2007PTC160921	EXOTIC VENEERS PRIVATE LIMITED	Director	21/03/2007	21/03/2007	-	Active	NO
6	U17121DL2007PTC171042	COAST TO COAST DESIGNS PRIVATE LIMITED	Director	04/12/2007	04/12/2007	-	Active	NO
7	U70109DL2011PTC221140	BAID BUILDCON PRIVATE LIMITED	Director	30/09/2013	01/12/2012	-	Active	NO

Name :

Mrs. Pooja Aggarwal

Designation :

Director

Address :

157, Anand Vihar, Pitamoura, Delhi-110034, India

Date of Birth/Age :

01.11.19718

Date of Appointment :

26.09.2013

DIN No.:

00021433

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U70100DL2011PTC223803	RIVYA PROPERTIES PRIVATE LIMITED	Director	17/08/2011	17/08/2011	Active	NO
2	U17121DL2007PTC171042	COAST TO COAST DESIGNS PRIVATE LIMITED	Director	26/09/2013	24/05/2013	Active	NO

Name :

Mr. Udit Sekhar Dass

Designation :

Director

Address :

AG-246, Shalimar Bagh, Near Happy Public School, Delhi-110088, India

Date of Birth/Age :

27.12.1959

Date of Appointment :

26.09.2013

DIN No.:

05260381

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U17121DL2007PTC171042	COAST TO COAST DESIGNS PRIVATE LIMITED	Director	26/09/2013	23/04/2012	Active	NO

Name :

Mrs. Ruchika Baid

Designation :

Director

Address :

91, Sanik Vihar, Pitampura, Delhi-110034, India

Date of Birth/Age :

20.05.1979

Date of Appointment :

26.09.2013

DIN No.:

06590911

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U17121DL2007PTC171042	COAST TO COAST DESIGNS PRIVATE LIMITED	Director	26/09/2013	24/05/2013	Active	NO

KEY EXECUTIVES

Name :	Mr. Naresh Sharma
Designation :	Accounts Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2013

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 26.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	38.45
Directors or relatives of directors	58.02
Other top fifty shareholders	3.53
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Wooden Products.
Exports :
Products :	Finished Goods
Countries :	· Sri Lanka
Imports :
Products :	Raw Material
Countries :	· Europe · China
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· HDFC Bank Limited

· Corporation Bank

28-E, Sundar Bhawan, Kamla Nagar, Delhi - 110007, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Car Loan from Volkswagen Finance Private Limited (Against hypothecation of Audi Car, repayable in 48 installment of Rs. 0.081 Million including interest @ 10.57% starting from 29.02.2012 and ending as on 20.01.2016) and personal guarantee of directors.	1.685	2.370
Car Loan from HDFC Bank Limited (Against hypothecation of I 20 Car, repayable in 48 installment of Rs. 0.014 Million including interest @ 15.55% starting from 05.02.2012 and ending as on 05.01.2016) and personal guarantee of directors	0.263	0.379
SHORT TERM BORROWINGS
BELC (Corporation Bank LC Discounting Limit) (Secured against hypothecation of plant and machinery, other fixed assets, stock and book debts, present and future and equitable mortgage of Factory land and building)	0.000	2.528
Cash Credit Limit from Corporation Bank (Secured against hypothecation of plant and machinery, other fixed assets, stock and book debts, present and future and equitable mortgage of Factory land and building)	0.000	17.853
Buyers credit from Corporation Bank (Secured against hypothecation of plant and machinery, other fixed assets, stock and book debts, present and future and equitable mortgage of Factory land and building)	48.752	13.242
Total	50.700	36.372

Banking Relations :	--
Auditors :
Name :	B.D. Gupta And Associates Chartered Accountants
Address :	217, Dhruv Apartment, 4 I.P. Extension, Patparganj, Delhi – 110092, India
Tel. No.:	91-11-22724123/ 22720236
Income-tax PAN of auditor or auditor's firm :	AADFB7892G
Related Parties :	· Baid Buildcon Private Limited · Donyi Polo Infrastructure Private Limited · Donyi Polo Timbers Private Limited · Unique Plywood Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs. 10/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,495,527	Equity Shares	Rs. 10/- each	Rs. 14.955 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	14.955	14.955	14.278
(b) Reserves & Surplus	45.488	42.882	32.503
(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)	60.443	57.837	46.781
(3) Non-Current Liabilities
(a) long-term borrowings	120.199	67.668	13.759
(b) Deferred tax liabilities (Net)	0.492	0.604	0.552
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.981	0.000	0.000
Total Non-current Liabilities (3)	122.672	68.272	14.311
(4) Current Liabilities
(a) Short term borrowings	48.752	33.623	22.007
(b) Trade payables	119.095	113.907	85.407
(c) Other current liabilities	8.508	10.319	6.059
(d) Short-term provisions	3.650	2.066	1.131
Total Current Liabilities (4)	180.005	159.915	114.604
TOTAL	363.120	286.024	175.696
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	30.078	20.580	14.273
(ii) Intangible Assets	0.052	0.034	0.031
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.103	0.798	0.098
(e) Other Non-current assets	0.000	0.000	0.215
Total Non-Current Assets	30.233	21.412	14.617
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	122.343	101.103	83.969
(c) Trade receivables	202.422	148.836	71.520
(d) Cash and cash equivalents	2.908	9.179	1.349
(e) Short-term loans and advances	3.943	4.528	3.966
(f) Other current assets	1.271	0.966	0.275
Total Current Assets	332.887	264.612	161.079
TOTAL	363.120	286.024	175.696

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		TOTAL	400.000 (Approx.)	NA	251.186
Less	EXPENSES
		TOTAL	NA	NA	247.185
	PROFIT BEFORE TAX		4.716	5.713	4.001
Less	TAX		2.110	2.107	1.398
	PROFIT AFTER TAX		2.606	3.606	2.603
	Earnings Per Share (Rs.)		1.74	2.41	1.82

Expected Sales (2013-2014): Rs. 500.000 Millions

The above information has been parted by Mr. Naresh Sharma (Accounts Head)

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	NA	1.04
Return on Total Assets (PBT/Total Assets}	(%)	1.30	2.00	2.28
Return on Investment (ROI) (PBT/Networth)		0.08	0.10	0.09
Debt Equity Ratio (Total Debt/Networth)		2.80	1.75	0.76
Current Ratio (Current Asset/Current Liability)		1.85	1.65	1.41

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. in Millions)	(Rs. in Millions)	(Rs. in Millions)
Share Capital	14.278	14.955	14.955
Reserves & Surplus	32.503	42.882	45.488
Net worth	46.781	57.837	60.443
long-term borrowings	13.759	67.668	120.199
Short term borrowings	22.007	33.623	48.752
Total borrowings	35.766	101.291	168.951
Debt/Equity ratio	0.765	1.751	2.795

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	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last two 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	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10375001	06/08/2012	85,000,000.00	CORPORATION BANK	28-E, SUNDAR BHAWAN, KAMLA NAGAR, DELHI - 110007, INDIA	B57476608
2	10259207	24/12/2010	55,000,000.00	CORPORATION BANK	KAMLA NAGAR, NEW DELHI - 110007, INDIA	B02513489

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Loan from Directors, Member and their Relatives	30.647	13.056
Inter Corporate Loans	87.604	51.863
Total	118.251	64.919

FIXED ASSETS:

Tangible Assets

· Land

· Computer and Peripherals

· Buildings

· Plant and Machinery

· Furniture and Fixture

· Vehicles

Intangible Assets

· Goodwill

· Trade Marks

· Technical Knowhow

· Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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

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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. 62.12
UK Pound	1	Rs. 103.93
Euro	1	Rs. 85.17

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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	--

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.